Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
Kepco to raise electricity prices as total debt soars past W200tr
Despite self-rescue efforts, a hike in electricity prices is inevitable, the Korea Electric Power Corp. Chief Executive Officer Kim Dong-cheol said Thursday. Explaining how the company was able to reduce its snowballing debt through all-out efforts, including a massive personnel restructuring, Kim noted that Korea's electricity prices are far lower than other countries. "The cost of purchasing electricity surged from 2021, but we could not shift the burden into electricity prices, and
Industry May 16, 2024
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LG Electronics strengthens medical robot services
LG Electronics joined hands Hanllym University Sacred Heart Hospital as part of its effort to strengthen medical robot services with its “affectionate intelligence” robot, Cloi, the company said on Wednesday. In an agreement, LG and the hospital agreed to collaborate to discover various scenarios of when robots can be used in medical institutes, and establish demonstration cases within domestic and international medical institutions. "With LG's Cloi robot taking charge of r
Industry May 15, 2024
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Korean display makers show off next-gen OLED technologies at SID event
Samsung Display and LG Display presented the next-generation organic light-emitting diodes and Quantum dot panel technologies at this year’s Display Week 2024 in the US. Samsung introduced the industry's first quantum dot light-emitting diode display, the next-generation self-luminous technology, at SID Display Week 2024. The event, hosted by the Society for Information Display, kicked off Tuesday in San Jose, California, and runs until Thursday. The new technology implements RGB pixe
Industry May 15, 2024
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Dyson debuts first wet floor cleaner WashG1
UK home appliance giant Dyson on Tuesday released WashG1, its first wet floor cleaner designed to pick up wet and dry debris in one go without a vacuum motor. The wet floor cleaner, equipped with a 1-liter clean-water tank, uses a combination of hydration, absorption and extraction technologies to remove wet and dry debris -- automatically separating them -- according to Dyson. "Cleaning floors can be very unhygienic, leaving smears and dirty marks and you usually have to vacuum first, so i
Industry May 14, 2024
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Samsung doubles down on Vietnam
Samsung Electronics has pledged to increase its annual spending in Vietnam to $1 billion as the Southeast Asian country emerges as a strategic base for manufacturing in the region. According to industry sources on Monday, Samsung Electronics Chief Financial Officer Park Hark-kyu on Thursday met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi to discuss business collaborations. During the meeting, the Samsung CFO noted how the company has invested $22.4 billion in Vietnam so far and share
Industry May 13, 2024
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LG Electronics CEO offers to pay $1m salary to top AI talents
LG Electronics Chief Executive Officer Cho Joo-wan traveled to the US to meet with big tech counterparts and discuss collaboration in artificial intelligence, as well as to secure AI talents, the company said Sunday. Hosting a tech conference in Cupertino, California on Saturday, Cho underscored the importance of talents in AI development and said the company is willing to offer large salaries to secure top talents. "Changes such as electrification, servitization and digitalization are occu
Industry May 12, 2024
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Battery makers ramp up efforts to diversify graphite supply chain
Korean battery makers are speeding up efforts to diversify their supply chains to source key materials, including graphite, as the US pushes back the deadline for the ban on the use of Chinese minerals by two years. Earlier this month, the US Treasury Department announced an extension to its $7,500 tax credit scheme for electric vehicles containing components from Foreign Entities of Concern, which includes China, until the end of 2026. "There have been concerns that if Korean batteries fai
Industry May 12, 2024
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LG Display starts sell-off talks for China plant
LG Display has started talks to sell off its last liquid crystal display manufacturing plant in China in an apparent move to focus on consolidating its leadership in the more advanced organic light-emitting diode display market. According to industry sources on Thursday, LG Display is discussing the issue with Korea’s Ministry of Trade, Industry and Energy as a pricey display plant is considered the nation’s strategic asset whose sales should be approved by the government. In a regul
Industry May 9, 2024
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Minister says chip subsidy a ‘tall order’
Countries have been rolling out competitive subsidy programs to boost their edge in the critical semiconductor industry. For South Korea, it is difficult to come up with such direct support programs, but the government is working to create an environment to benefit long-term investment in the sector, Industry Minister Ahn Duk-geun said in a press briefing Tuesday. Ahn also explained that the ministry, along with other government entities will set up a public fund to support strategic industries,
Industry May 8, 2024
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Will China's self-sufficient dream in HBM come true?
With the US imposing strict trade restrictions on China's advanced semiconductors and chipmaking equipment, Beijing has been ramping up efforts to develop home-grown artificial intelligence chips to keep up with the global AI boom. Recently, the Chinese government and chipmakers have been working together to produce high-bandwidth memory chips, a crucial component in graphic processing units. With the backing of the government, the consortium led by Huawei aims to produce HBM2 by 2026. Indu
Industry May 7, 2024
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Naver will consider company benefits in deciding on selling Line shares: CEO
While the Japanese government is pressuring Naver to shed ownership in Line, the dominating messaging app in Japan, the Korean internet giant said it will make a decision based on the benefit of the company's business, the chief executive officer said Friday. During an earnings call, Naver CEO Choi Soo-yeon said the administrative guidance issued by Japan's Ministry of Internal Affairs and Communications last month, demanding Tokyo-based LY Corp., the operator of Line, to lower its dep
Industry May 3, 2024
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Samsung chief returns from Europe after meeting with Pope, business leaders
Samsung Electronics Chairman Lee Jae-yong returned to Seoul on Friday after his trip to Europe, where he made a surprise visit to Vatican City to meet with Pope Francis, and met with business counterparts for cooperation. During the 10-day trip, Lee traveled to Germany, France and Italy, and checked on the company's business operations there. “The spring has come,” he told reporters without further explanation, upon his arrival at the Seoul Gimpo Business Aviation Center. He did
Industry May 3, 2024
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'Our HBM chips are sold out until 2025': SK hynix CEO
SK hynix on Thursday said that its high-bandwidth memory chips have already sold out until 2025, boasting its leadership in the advanced memory chip market for artificial intelligence. "Demand for ultra-fast, high-capacity and low-power memory products for AI applications is expected to see explosive growth,” said SK hynix CEO Kwak Noh-jung during a press conference held at the company’s headquarters in Icheon, Gyeonggi Province. “Our HBM chips from the 2024 output have al
Industry May 2, 2024
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
After logging losses for five consecutive quarters, Samsung Electronics' chip business returned to the black in the first quarter this year, thanks to rising demand for high-end chips and a surge in chip prices. In its earnings report for the January-March period on Tuesday, Samsung said its chip division reported 23.1 trillion won ($16.7 billion) in sales and 1.91 trillion won in operating profits. The profit comes after the company suffered operating losses for five consecutive quarters.
Industry April 30, 2024
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China outpaces Korea in smaller OLED shipments for 1st time
China outpaced Korea in the shipment of organic light-emitting display panels for IT gadgets for the first time in the first quarter of this year, stirring concerns that Korean manufacturers could eventually be pushed out of the market by Chinese rivals. According to Chinese market tracker Cinno Research on Monday, China's OLED shipments for IT gadgets including smartphones and tablet PCs accounted for 53.4 percent of the total in the January-March period, ahead of Korea’s 46.6 percen
Industry April 29, 2024
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