Samsung Electronics said Thursday it will focus on producing high-value chips and is ready to supply the cutting-edge AI chips high in demand after announcing disappointing quarterly earnings. The company also hinted it is making strides to supply its cutting-edge HBM3E chips to Nvidia, which controls some 80 percent of the world's AI chips, and said it aims to mass produce the next HBM4 in the second half of next year. “There was a delay in commercializing HBM3E chips, but we have ma

South Korean stocks closed almost 1.5 percent lower Thursday as tech and financial shares sharply lost ground. The local currency was rising against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 37.64 points, or 1.45 percent, to close at 2,556.15. Trading volume was a little slim at 396.7 million shares worth 10.7 trillion won ($7.75 billion), with winners slightly outnumbering losers 473 to 401. Overnight, Wall Street finished lower on the losses of chip companies,

South Korean stocks kicked off sharply lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite S tock Price Index (Kospi) lost 33.62 points, or 1.3 percent, to 2,560.17 in the first 15 minutes of trading. Overnight, Wall Street finished lower, with the Dow Jones Industrial Average down 0.22 percent, the tech-heavy Nasdaq composite down 0.56 percent and the S&P 500 down 0.33 percent, as chip companies, including Advanced Micro Devices and Nvidia, lost ground. I

The government forecasts tax revenue to be 29.6 trillion won ($21.4 billion) short this year. The Ministry of Economy and Finance said Monday that it will use 14 to 16 trillion won in three funds to make up for the shortage. The three are: the foreign exchange stabilization fund, the national housing and urban fund and the public capital management fund. It will not issue government bonds. The government plans to cover the rest of the shortfall by withholding some 6.5 trillion won in national ta

Seoul shares ended lower Monday, snapping a three-day rally as tech and battery stocks slumped due to foreign selling. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 24.01 points, or 0.92 percent, to close at 2,593.79, marking its first drop in four trading sessions. Trade volume was moderate, with 476.4 million shares worth 8.76 trillion won ($6.3 billion) changing hands, as decliners outnumbered gainers 514 to 350. Foreign investors sold a net 3

South Korean stocks started lower Wednesday due to losses from large-cap shares in tech and auto firms. The benchmark Korea Composite Stock Price Index lost 15.27 points, or 0.58 percent, to 2,602.53 in the first 15 minutes of trading. Overnight, Wall Street finished mixed. The Dow Jones Industrial Average fell 0.4 percent, while the Nasdaq composite rose 0.8 percent to a record high on better-than-expected earnings from Alphabet, the parent company of Google. In Seoul, most market heavyweights

South Korean stocks rose for three straight sessions Tuesday as the robust performance of top-cap Samsung Electronics offset losses from battery and auto shares. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) gained 5.37 points, or 0.21 percent, to 2,617.8, extending its winning streak for the third consecutive session. Trade volume was slim at 335.2 million shares worth 9.1 trillion won ($6.56 billion), with decliners beating gainers 441 t

South Korean stocks started lower Tuesday despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) lost 12.01 points, or 0.46 percent, to 2,600.42 in the first 15 minutes of trading. U.S. stocks finished higher ahead of earnings reports of major tech firms. The Dow Jones Industrial Average rose 0.65 percent, and the Nasdaq Composite added 0.26 percent. In Seoul, market bellwether Samsung Electronics fell 0.69 percent and its chipmaking rival SK hynix went d

SINGAPORE, Oct. 28, 2024 /PRNewswire/ -- EDUtech Asia 2024, will be back for its 9th edition from 6 to 7 November. Organised by Terrapinn, EDUtech Asia 2024 will offer a distinguished lineup of education leaders, decision-makers, policy makers, educators, innovators and disruptors to collaborate and reimagine the future of education with the power of tech. 2.  EDUtech Asia will have the honour of having Madam Halimah Yacob, Chancellor of the Singapore University of Social Sciences and for

Samsung Electronics, facing challenges from its smaller rivals, is expected to carry out a major personnel reshuffle later this year, according to industry sources Monday. The world’s largest maker of memory chips and smartphones has been battling growing competition at home and abroad. When it comes to artificial intelligence chips, for instance, it has been outpaced by its crosstown rival SK hynix, as it failed to secure an earlier edge. “Samsung’s losses in HBM and foundry a

South Korean stocks rose more than 1 percent to hit a two-week high Monday led by a sharp rebound in top-cap Samsung Electronics shares. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.16 points, or 1.13 percent, to 2,612.43, marking the highest closing price since Oct. 15 when the bourse finished at 2,633.45. Trade volume was slim at 327.6 million shares worth 9 trillion won ($6.5 billion), with winners outnumbering losers 615 to 271. Institu

South Korean stocks started higher Monday on gains from semiconductor and battery shares. The benchmark Korea Composite Stock Price Index rose 14.75 points, or 0.57 percent, to 2,598.02 in the first 15 minutes of trading. Market bellwether Samsung Electronics added 1.61 percent, and its chipmaking rival SK hynix gained 0.75 percent. Leading EV battery maker LG Energy Solution increased 0.86 percent, while Posco Future M surged 3.74 percent. Top carmaker Hyundai Motor went up 0.67 percent, and it

Upon receiving an affogato order, the three-jointed arm of barista robot Porty readies the portafilter and locks it into the coffee grinder. After extracting a fresh shot from the espresso machine, Porty pours it over a cup of ice cream, prepared by fellow robot, Mixie. When there are no visitors, the duo reportedly spend their time dancing to the cafe's background music. Mixie and Porty are the only servers at Better Than Yours, a fully automated cafe in Seongsu, eastern Seoul. Together,

Seoul shares closed slightly higher Friday on retail buying amid waning bets on the Federal Reserve's rate cuts. The Korean won fell to the lowest point in almost four months against the US dollar. The benchmark Korea Composite Stock Price Index rose 2.24 points, or 0.09 percent, to 2,583.27. The main index has fallen 0.4 percent this week. Trade volume was moderate at 454.58 million shares worth 10.14 trillion won ($7.3 billion), with losers outpacing gainers 617 to 258. Institutions and i

Seoul shares opened higher Friday following tech gains on Wall Street, although investors remained concerned about a potential slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 25.4 points, or 0.98 percent, to 2,606.43 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average fell 0.33 percent to 42,374.36, while the tech-heavy Nasdaq Composite rose 0.76 percent to 18,415.49. In Seoul, tech stock