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July 09, 2023
Samsung Electronics predicts Q2 profit to plunge 96%, hitting 14-year low
Samsung Electronics has predicted an operating profit of 600 billion won ($458.5 million) for the April-June period, a 96 percent plunge to what would be the lowest quarterly earnings in 14 years, am... local analysts provided by market intelligence Yonhap Infomax. In the first quarter t...
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July 07, 2023
Samsung’s new foldable phones to be unveiled on July 26 in Seoul
Samsung Electronics on Thursday sent out invitations to the “Join the Flip Side” unpacking event for its new foldable smartphone series later this month in Seoul, marking the tech giant’s first Galax...laxy as we showcase our latest technologies designed to open possibilities and trans...
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July 07, 2023
[Herald Interview] Kakao Pay-Siebert mashup picks up speed
...board of directors," Shin said in an email interview with The Korea Herald. Prior to joining Kakao as head of corporate strategy in 2020, Shin took on strategist roles at global companies such as Samsung Electronics and McKinsey. Currently, he leads both the payment and corporate devel...
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July 06, 2023
[KH explains] More card issuers jump on Apple Pay bandwagon
...llion members. Shinhan Card remains the industry leader with 14.29 million members, followed by Samsung Card with 12.72 million. Also, according to Hyundai Card’s most recent data, over 25.8 million...ile payment service Samsung Pay. Under the previously signed contract wi...
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July 06, 2023
Samsung may face tighter scrutiny under new EU rules
Samsung Electronics may be subject to the European Union’s new platform service regulations targeting big tech companies, as the Korean tech giant notified the European Commission it meets the EU’s c...Alphabet, Amazon, Apple, TikTok developer ByteDance, Facebook parent company Meta, Mi...
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July 06, 2023
[Herald Interview] Snowflake seeks to expand presence in Korea
...ake launched its Korean unit in 2021 with the aim of attracting big-name local companies such as Samsung and LG as lucrative corporate clients. In Korea, many large conglomerates operate their own IT...perations in Korea, it was also able to secure about 64 system integration partners ...
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July 05, 2023
[Herald Interview] EU seeks cooperation with South Korea to de-risk from China amid supply chain woes
...operation and explain the necessity of "de-risking" supply chains. Breton said he also met with Samsung Electronics Chairman Lee Jae-yong to discuss the world’s largest memory chipmaker’s further inv...nvestment from Korean companies," the commissioner said. "I discussed this with t...
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July 05, 2023
New public-private alliance formed to boost Korea’s SMR competitiveness
...t bodies and public institutions, including the Ministry of Trade, Industry and Energy, Korea Hydro & Nuclear Power and Korea Energy Economics Institute, and 31 local companies, including SK Inc., Samsung C&T and Daewoo E&C. “We’ll promote the quantitative and qualitative growth of t...
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July 05, 2023
Samsung Biologics hits winning streak with record-high Pfizer deals
Samsung Biologics, a South Korean contract development and manufacturing organization, announced Tuesday that the company has finalized two record deals worth $897 million with Pfizer. The deals com...g demand in the pharmaceutical industry,” an official from Samsung Biologics...
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July 04, 2023
[Herald Interview] Chip wars: No end in sight
...s vast subsidy campaign to build up domestic competitors to foreign chipmakers. For example, generous subsidies have helped its chipmaker YMTC become a world-class NAND memory firm, competing with Samsung Electronics, SK hynix, Micron Technology and other firms. I think China is likely ...
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July 04, 2023
Hyundai, Kia to outpace chaebol rivals in Q2 profits
... would be the largest quarterly numbers in the history of the automaker. Hyundai Motor outpaced Samsung Electronics to take the top spot as the highest earner in the first quarter of this year for th...r as the second-highest earner in the country in the second quarter with semiconduct...
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July 02, 2023
Toss selected as preferred bidder for Shinsegae's payment services
...services' dim outlooks for generating profits in the future, with large firms such as Kakao Pay, Samsung Pay, and Naver Pay dominating the market share for domestic payment services. "A company's own...f of 2022. Transactions made through Kakao Pay took up 42.4 percent of total transa...
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June 29, 2023
Hyundai invests W2b in auto chip startup
... an official from Hyundai Motor Group. “We could also prevent the chip shortage that had been prevalent during the COVID-19 pandemic.” Following the recent business tie-up with its chaebol rival Samsung Electronics, industry insiders say the world’s third-largest automaker is going...
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June 29, 2023
Samsung unveils foundry road map to take on TSMC
Samsung Electronics, the world’s largest memory chipmaker, on Tuesday unveiled a new foundry business road map, saying it will expand the adoption of the 2-nanometer manufacturing technology in phase...ment under Samsung's foundry business. “We will continue to strive for con...
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June 29, 2023
MWC Shanghai returns as in-person event after pandemic hiatus
...bitors during the MWC in Barcelona, however, had little presence at the Shanghai show this year. Samsung also did not participate in the event this year, while its global rivals such as Qualcomm, Eric... organizations and partners who are making the world a better place across the digit...
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June 28, 2023
Nongshim, Samyang succumb to pressure, cut prices of products
...makers are also following suit. Samyang Food, another ramen giant here, said it will reduce the prices of 12 major products by an average of 4.7 percent in phases starting in July. A pack of five Samsung Ramen, its top seller, will be sold at 3,680 won at large discount chain stores, d...
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June 27, 2023
[Contribution] Strategies to secure Korea's chip supremacy
...d the “Electronic Industry Promotion Plan”, followed by the “Comprehensive Semiconductor Industry Promotion Plan” in 1985 through which it invested in the localization of semiconductor technology. Samsung, which acquired Hankook Semiconductor, developed 64K DRAM in 1983 and switched...
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June 27, 2023
Korean firms fight talent exodus as chip tech war intensifies
A former Samsung employee was banned from moving to US rival Micron Technology after the Korean tech giant took the issue to court amid growing concerns over illicit tech transfer. Seoul Central Dis... employee joined Micron Technology, a US-based memory chipmaker ranking No. 3 in the wo...
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June 26, 2023
Samsung chief touts ‘meaningful trip’ to France, Vietnam
Samsung Electronics Executive Chairman Lee Jae-yong returned home Saturday after a seven-day business trip to France and Vietnam. He accompanied President Yoon Suk Yeol on his latest state visits to ...amsung Electronics producing nearly half of its flagship Galaxy smartphones in factorie...
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June 23, 2023
Emro seeks global expansion with supply chain management solutions
...global market by developing an integrated supply chain management platform in collaboration with Samsung SDS and US-based planning platform provider o9 Solutions. Amid the escalating trade rivalry be...rket. As part of its global expansion, the company recently struck a strategic part...
December 23, 2024
