[Herald Interview] Veteran trade lawyer urges readiness for heightened geopolitical uncertainty

Growing geopolitical risks are having profound impacts on the global economy, affecting policies, trade and competition in markets. In the business world, legal disputes across borders are likely to increase against this backdrop, and geopolitical factors may also affect how these cases play out, John Quinn, a veteran trial lawyer who specializes in patent and corporate law, said in a recent interview with The Korea Herald. Quinn founded Quinn Emanuel Urquhart & Sullivan, one of the top liti

Jan. 16, 2024

How will Taiwan election affect Korean chips?

The victory of the US-friendly Democratic Progressive Party candidate Lai Ching-te in Taiwan's presidential election has raised concerns about its potential impact on the Korean semiconductor industry and the global supply chain. South Korea's two leading semiconductor makers -- Samsung Electronics and SK hynix -- are reviewing the impact of the election results on the global foundry market, but the outlook appears mixed, experts said Monday. Experts pointed to the geopolitical risks f

Jan. 15, 2024

[CES 2024] LG Innotek’s CES booth attracts more than 60,000 visitors this year

LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Innotek has positioned itself as a leading company in the field of future mobility as well as accelerating the acquisition of potential customers with highly scalable basic technologies,” said Moon Hyuk-soo, CEO of LG In

Jan. 15, 2024

Tesla puts German factory production on hold as Red Sea attacks disrupt supply chains

BERLIN (AP) — Tesla says it's temporarily halting most production at its German factory because of attacks in the Red Sea, a vital global shipping corridor. The electric vehicle maker said in a statement Thursday night that its factory near Berlin, which makes Model Y vehicles and batteries, will pause from Jan. 29 to Feb. 11. It’s a fresh sign of how the hostilities in the Mideast are disrupting global manufacturing supply chains, with shipping companies reporting that th

Jan. 12, 2024

[CES 2024] [Herald Interview] SK Telecom to bolster AI ties with big tech firms

LAS VEGAS -- South Korea's largest telecom carrier SK Telecom is seeking to expand cooperation with big tech firms to fulfill its vision of becoming a "global AI company," according to its AI assistant service chief on Wednesday. "SK Telecom’s AI services are anticipated to achieve effective results based on various possibilities and capabilities both here and abroad. To accelerate our global business expansion, we’ve formed a global tech alliance and cooperated w

Jan. 12, 2024

Water debuts EV-charging station at Burger King

Water, a Korean electric vehicle charging network operated by Brite Energy Partners, said Friday that it has installed fast chargers for EVs at a Burger King in Cheongju, North Chungcheong Province, as part of its collaborative efforts with retail brands. Established in 2017, BEP finances, acquires and develops clean energy projects such as those in solar and renewable energy, while running clean energy producers and selling electricity. BEP has drawn about 330 billion won ($251 million) in in

Jan. 12, 2024

[CES 2024] SK attracts over 60,000 visitors to 'theme-park' showroom of AI, net-zero future

SK Group showcased its artificial intelligence and carbon-neutrality visions at its "theme-park" concept exhibition at CES 2024, attracting over 60,000 visitors in the four-day tech show. Wrapping up the exhibition on Friday, SK Group said it received more than double the number of visitors at its pavilion set up at Las Vegas Convention Center compared to last year. SK's seven affiliates, including SK Inc., SK Innovation, SK hynix, SK Telecom, and SK E&S, participated in setti

Jan. 12, 2024

SK Networks invests W25b in Upstage

SK Networks on Friday announced that it will invest 25 billion won ($19 million) in Upstage, a Korean startup specializing in generative AI solutions, as it seeks to expand its business in the emerging technology. The company, a general trading affiliate of SK Group, said it forged the deal to support Upstage, which is leading in the private large language model market, becoming the lead investor in the startup's Series B funding. “We are looking to back Upstage's market expa

Jan. 12, 2024

[CES 2024] [From the Scene] Thrill rides at SK’s tech-savvy theme park

LAS VEGAS -- A Disney-like amusement park came to life at the Las Vegas Convention Center for the CES 2024, the world's largest annual tech show, which kicked off in Las Vegas on Tuesday. “SK Wonderland,” the name of SK Group’s pavilion, resembled a fairy-tale theme park, greeting visitors with a series of unique and colorful attractions operated by the energy-to-telecom conglomerate’s advanced technologies. In collaboration with SK’s seven affiliates, includin

Jan. 11, 2024

[CES 2024] Samsung Electro-Mechanics CEO pins high hopes on AI

LAS VEGAS -- Samsung Electro-Mechanics CEO Chang Duck-hyun unveiled the company's new vision centering on four key technology developments -- the mobility industry, robots, artificial intelligence and servers, as well as energy -- to respond to the development of future industries in advance. "The electronics industry is expected to quickly enter an era where humanoids incorporating AI are applied to daily life and industry beyond mobile and mobility platforms," Chang said at a

Jan. 11, 2024

[CES 2024] LG to double spending for growth

LAS VEGAS -- LG Electronics CEO Cho Joo-wan said Wednesday that the tech giant will spend about 10 trillion won ($7.6 billion) in annual investment, more than double 2023's spending, to maximize its future growth engines despite lingering uncertainties in the macroeconomic circumstances. “We’re committed to maximizing future growth by expanding investment, mainly focusing on key businesses with high-growth and high-profit such as electronics, heating, ventilation and air conditi

Jan. 11, 2024

[Photo News] S. Korean business moguls visit CES 2024

Leaders of major corporations in South Korea toured exhibition booths on the opening day of the CES 2024 at the Las Vegas Convention Center, in Las Vegas, Tuesday. Among those who made an appearance at the annual global tech show were SK Group Chairman Chey Tae-won, SK Executive Vice Chairman and SK On CEO Chey Jae-won, Hyundai Motor Group Executive Chair Chung Euisun, HD Hyundai Vice Chairman Chung Ki-sun, GS Group Chairman Huh Tae-soo, and Samsung Electronics Vice Chairman Han Jong-hee.

Jan. 10, 2024

[CES 2024] Samsung CEO hints at plans for ‘megadeals’

LAS VEGAS – Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said the South Korean tech giant may set out a plan for megasized mergers and acquisitions this year as a way to solidify its leadership in the global market. “To strengthen our existing businesses and discover future growth engines, we’ve been steadily on M&A deals. We are hopeful that a new (M&A) plan will come up within this year,” Han said at a press conference Tuesday on the sidelines of CE

Jan. 10, 2024

[CES 2024] AI success hinges on steady, strategic investments: Chey

LAS VEGAS/SEOUL -- The era of artificial intelligence is opening, and its success will depend on how the market is created to measure up to high expectations and investment, SK Group Chairman Chey Tae-won said, taking part in the CES 2024 technology show in Las Vegas on Tuesday. After touring the showrooms of Samsung Electronics and LG Electronics on the opening day of the world's largest tech show, Chey pointed to transparent TV screens as novel items that may open an entirely new product

Jan. 10, 2024

[CES 2024] G-Dragon spotted at CES

K-pop artist G-Dragon was spotted visiting the CES 2024, the world’s largest tech show which kicked off in Las Vegas on Tuesday. G-Dragon popped into the showrooms of Korean tech firms, including Samsung Electronics, LG Electronics, and SK Group, where he explored their cutting-edge technologies. When asked about his surprise visit to the tech show, he replied, “I’m interested in all technologies, and came to learn more about AI.” Stopping by SK Group’s exhibition b

Jan. 10, 2024

[Photo News] Coming soon

A teaser video for Samsung Electronics’ Unpacked event touting its flagship Galaxy lineup is screened on the Sphere, a new landmark in Las Vegas, Tuesday. The tech giant is scheduled to unveil its Galaxy S24 smartphones with enhanced artificial intelligence features next week in San Jose, California. (Samsung Electronics)

Jan. 10, 2024

[Photo News] OLED tunnel

Visitors pass through tunnel-like display screens at LG Electronics’ exhibition booth during the CES tech show in Las Vegas on Tuesday. Some 140 OLED screens are used to feature diverse video content running on the tech giant’s smart TV platform, webOS. (LG Electronics)

Jan. 10, 2024

Samsung warns of worse than expected earnings in Q4

Samsung Electronics is estimated to have recorded its lowest operating profit in 15 years in 2023, with its chip business only slightly recovering at the end of the year after hitting rock bottom in the wake of sluggish demand and high inventory. In its earnings guidance released Tuesday, the tech giant projected its annual sales for the year at 258.1 trillion won ($196 billion), which is down by 14.5 percent on-year. Operating profit is estimated at 6.54 trillion won, plunging 84.9 percent when

Jan. 9, 2024

[CES 2024] LG Innotek presents tech for mobility, 5G

LG Innotek, an electronic component manufacturing unit under LG Group, said Tuesday it unveiled cutting-edge technologies for autonomous driving cars and 5G telecommunications at the CES 2024 in Las Vegas on Monday. The company carried out a pre-booth tour and introduced three zones in the exhibition booth -- mobility, artificial intelligence and future pathway -- prior to the official unveiling. In the main mobility zone, the company displayed a mock-up of a self-driving car installed with 18 c

Jan. 9, 2024

[CES 2024] SK hynix seeks memory chip leadership in AI era

LAS VEGAS -- SK hynix, the world's second-largest memory chip maker, on Monday unveiled its ambitious goal of hitting 200 trillion won ($150 billion) in market cap in the next three years, consolidating its leadership in the burgeoning era of artificial intelligence. “Currently, our market cap stands at about 100 trillion won. In the next three years, we aim to reach 200 trillion won,” SK hynix CEO Kwak Noh-jung said during the company’s first-ever press conference held at

Jan. 9, 2024