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April 09, 2023
Samsung Electronics cuts chip production as Q1 profit likely to hit 14-year low
Samsung Electronics said Friday it was cutting its chip production to a “meaningful level” after reporting a worse-than-expected 96 percent plunge in its quarterly operating profit estimate amid the global chip downturn. “We’re adjusting to lower memory production to a mean...
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April 09, 2023
LG’s top brass joins forces to garner support for Busan’s Expo bid
...isiting the country where sales and production operations of LG’s key affiliates, including LG Electronics, LG Energy Solution and LG Chem, are located, Koo expressed gratitude for the Polish governme...po Bidding Committee, a business-led civilian organization consisting of 11 compani...
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April 05, 2023
BIE members feel Seoul's fever for Busan Expo
... about the company's ESG initiatives. They then took a practice ride on the Office Omnipod by LG Electonics and listened to explanations about the company's state-of-art display technologies. In Samsung Electronics' booth, Specht wrote a short message regarding Busan's bid t...
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April 05, 2023
Biz leaders circle the Earth more than 64 times to drum up Expo support
... Expo Bidding Committee, a business-led civilian organization made of 11 companies including SK, Samsung and Hyundai, have visited 84 countries for negotiations related to the final vote regarding the... as co-chair of the Busan Expo bidding committee and is also the chairman of the KCC...
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April 04, 2023
Biz leaders welcome BIE delegation, reaffirm support for Busan's Expo bid
...the KCCI. Heads from large conglomerates attended the luncheon meeting held in Seoul, including Samsung Electronics President Park Seung-hee; SK SUPEX Council Social Value Committee President Lee Hyu...yo Bridge, Dongbaek Island, White Yeoul Culture Village and Haeundae Blue ...
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April 03, 2023
Samsung SDI opens R&D center in Shanghai
Samsung SDI said Sunday that it opened a new research and development center in Shanghai on Saturday, completing its global network of research facilities around the world. The new center, called SD...talent pools, we will further bolster our pursuit of outstanding technological competit...
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March 31, 2023
Korean chips act aims to extend tax cuts for local chipmakers
...e Restriction of Special Taxation Act, which raises the corporate tax break for facility investment in the semiconductor and other strategic industries to 15 percent for large corporations such as Samsung Electronics and SK hynix, from the previous 8 percent. The tax deductio...
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March 30, 2023
[History through The Korea Herald] From $10b to $680b: S. Korea’s glory road to export-driven prosperity
“Textile exports declined in relative terms in the 1980s, replaced by consumer electronics, computers and semi-conductors as lead exports. In 1983, the first Hyundai cars were exported,” the report b...20 percent of total exports by South Korea last year. The industry is spearheaded by ...
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March 27, 2023
Samsung chief travels to China first time in 3 years, meets with key officials
Samsung Electronics Chairman Lee Jae-yong is making the most out of his first trip to China in three years, inspecting the affiliates’ production facilities, meeting with key Chinese officials and at...gional corporate heads of Samsung affiliates in Tianjin -- Sa...
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March 26, 2023
Samsung chairman arrives in Beijing to attend China business summit
Samsung Electronics Executive Chairman Lee Jae-yong on Thursday arrived in Beijing to attend a high-profile corporate summit this weekend, according to industry sources Friday. It is the first time in three years for the de facto leader of Samsung Group to visit China...
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March 23, 2023
Korea, Japan to expedite trade talks after summit
...ation between high-tech manufacturing companies in Korea, such as semiconductors, and Japanese materials, parts and equipment companies. “For Japanese companies that supply parts and equipment to Samsung Electronics and SK hynix, the advantages of geographical proximity in t...
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March 23, 2023
Samsung, SK breathe tentative sigh of relief over US chip subsidy rules
...bsidy and have production facilities in China, "loosening" the restriction by allowing the limited expansion of production capacity in China. Home to two of the world's largest memory chipmakers, Samsung Electronics and SK hynix, Korea's chip industry is somewhat relieved tha...
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March 23, 2023
Samsung Group celebrates low-key 85th anniversary
South Korea's largest conglomerate, Samsung Group, on Wednesday marked the 85th anniversary of its founding in a low-key manner. It is the first year that the big day has been celebrated following de facto leader Lee Jae-yong’s promotion to executive chairman of Samsung El...
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March 22, 2023
Apple Pay makes Korean debut after 10-year wait
...is also the main reason why rival Korean credit card issuers are still hesitant to adopt the service, the sources said. What's more, at present, almost 80 percent of smartphone users in Korea use Samsung or Android phones and iPhone users make up less than 20 percent. Apple Pay made i...
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March 22, 2023
Samsung CEO hints at buyout of Rainbow Robotics
Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said Tuesday that the tech giant was in talks to secure a greater stake in Rainbow Robotics, a local humanoid robotics company, in an apparent move to ramp up its presence in the burgeoning robotics market. At a press ev...
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March 20, 2023
Samsung, SK hynix likely to suffer deficit in Q1 chip business
South Korea's leading semiconductor makers, Samsung Electronics and SK hynix, are likely to post deficits of billions of won in the first quarter of this year amid weakening memory chip prices and higher inventories. Posing great challenges for the firms are accumulated substan...
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March 17, 2023
Samsung ups stake in Rainbow Robotics
Samsung Electronics has purchased more shares in Rainbow Robotics, a local humanoid robotics company, in an apparent move to ramp up its presence in the burgeoning robotics market. In a regulatory f...eung-yoon, a senior analyst at Eugene Investment and Securities said. “Deta...
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March 17, 2023
Korea, Japan biz groups to create future partnership fund
...as Korean business tycoons are visiting Japan for a roundtable with Japanese business moguls. The FKI and Keidanren organized the Korea-Japan business roundtable for Friday. According to the FKI, Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-...
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March 16, 2023
Samsung to spend W60tr for balanced growth in rural areas
Since Lee Jae-yong was crowned Samsung Electronics’ new executive chairman in October last year, the de facto leader has visited the group’s manufacturing facilities across regions, starting with Gwangju, to inspect production sites and emphasize “win-win cooperation” and re...
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March 15, 2023
S. Korea, Dutch trade ministers pledge to bolster ties on chips
...ast year between Dutch Prime Minister Mark Rutte and South Korean President Yoon Suk Yeol. Advocating for the country’s semiconductor industry -- led by the world’s two largest memory chip makers Samsung Electronics and SK hynix -- Ahn asked for close consultation to minimi...
November 26, 2024
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