The chief executive officers of SK Group affiliates have agreed to ramp up efforts to bolster the conglomerate’s corporate value by swiftly carrying out rebalancing work to inspect and optimize businesses amid prolonged global management uncertainty. SK Group said Tuesday the latest decision came as top management agreed to bolster the corporate value-up drive at the April SK Supex Pursuit Council meeting held under the chairmanship of Chey Jae-won earlier in the day. Established in 2013,

Industry April 23, 2024

Samsung Electronics, the world’s largest memory chip maker, said Tuesday it kicked off the mass production of its one-terabit triple-level cell vertical NAND, or V-NAND, which is about 50 percent denser and 10 percent more energy efficient than its predecessor that launched in 2022. “We are excited to deliver the industry’s first 9th-gen V-NAND which will take future applications leaps forward. To address the evolving needs for NAND flash solutions, Samsung has pushed the bou

Technology April 23, 2024

South Korean IT solutions provider LG CNS said Tuesday it has been named as the services partner of the year for the second consecutive year at the 2024 Google Cloud Partner Awards. The annual awards recognize the standout performance of both global and regional companies across 14 categories, including services, sales, technology and industry solutions. The service partner award is given to a company that provides differentiated services and supports the success of the customer's busines

Industry April 23, 2024

Investors of the two Korean chip makers – Samsung Electronics and SK hynix -- dumped their shares Monday after Nvidia, the US chip giant, lost almost 10 percent Friday -- its worst day since March 2020. Market heavyweight Samsung Electronics and its chip rival SK hynix opened weaker in the day compared to Friday’s closing. Samsung and SK hynix fell 1.93 percent and 0.98 percent, respectively, to end trading at 76,100 won ($55.14) and 171,600 won on the country’s benchmark Kospi

Industry April 22, 2024

Doubts have been raised over Samsung Group’s latest decision to make the executives of its key tech affiliates -- Samsung Electronics, Samsung SDI, Samsung SDS and Samsung Display -- work an extra day per week as part of the group's emergency measures to tackle ongoing business uncertainties. Critics pointed out that the six-day workweek for executives is "outdated and inefficient," and that it lies in contrast to other local Big Tech firms who are following the global trend

Industry April 21, 2024

Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said its home appliance division, backed by enhanced connectivity with mobile devices, will enjoy its heyday in the second half of this year, showing confidence in the competition with its powerful rival Apple. “We may not yet be the No. 1 player in the home appliance sector. But if we can offer more enhanced connectivity, based on our leadership in TVs and smartphones, consumers will respond positively,” Han said at a press c

Technology April 17, 2024

LG Electronics unveiled the ambitious target of 1 trillion won ($722 million) in sales solely from built-in appliances by 2027 at this year’s Milan Design Week, one of the largest international design and furniture exhibitions. “Within three years, we will be able to make our built-in (appliance) business worth trillions and turn it into another growth engine,” Lyu Jae-cheol, head of LG Electronics' home appliance and air solutions division, told a group of local reporters

Technology April 17, 2024

Line Next, the Web3 unit of Japanese-based LY Corp., has redefined the digital market with its mobile service Dosi, which made its official debut in January this year. Line Next says it has transformed Dosi from an NFT platform into a dynamic digital service that integrates Web3 technology with existing web features. Seeking to expand the non-fungible token ecosystem, Line Next is paving the way to lead the Web3 market by offering differentiated services and exclusive digital perks users want. T

Industry April 16, 2024

LG Uplus CEO Hwang Hyeon-sik traveled to Silicon Valley and hosted a special event to lure young talents in the field of artificial intelligence, the telecom carrier said Monday. Hwang hosted the “2024 LG Uplus AI Visionaries Summit" at the Four Seasons Hotel Silicon Valley in San Francisco on Saturday. Invited were some 10 doctoral candidates and master's students in key AI fields such as natural language processing, large language model and vision from major US universities, in

Technology April 15, 2024

The South Korean government faced another compensation claim for its alleged role in the 2015 merger of two Samsung companies. The Hague-based Permanent Court of Arbitration ruled Thursday that the Korean government should compensate some $32.03 million to Mason Capital, a New York-based hedge fund, for its investment losses from the high-profile merger deal. Mason had originally demanded to be compensated with $200 million. The latest arbitrative ruling is the second of its kind made against

Industry April 12, 2024

With the advances in artificial intelligence, there is a growing demand for cutting-edge memory chips. As the technology environment has evolved, SK hynix vice president expressed his ambition to contribute to the development of the highest-performance memory products through advanced packaging technologies. “Package and test (P&T) technology is turning into a crucial factor in the battle for semiconductor leadership,” Choi Woo-jin, vice president in charge of SK hynix’s pa

Technology April 11, 2024

Samsung Electronics retained its No. 1 spot in the US home appliance market for an eighth consecutive year, dating to 2016, thanks to strong sales of key household products including refrigerators and washers, industry data showed Wednesday. According to market tracker TraQline, Samsung notched a 20.9 percent market share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percen

Technology April 10, 2024

The Samsung Innovation Museum, Korea's largest electronics industry museum, located at Samsung Electronics' headquarters in Suwon, Gyeonggi Province, marks its 10th on April 21. Since its grand opening in 2014, the museum has attracted some 500,000 visitors from 180 countries, including state guests from 23 countries. The 10,950-square-meter museum houses some 150 historical products such as light bulbs invented by Thomas Edison, transistor radios and TVs, as well as a multi-purpose Sa

Industry April 10, 2024

LG Electronics said Friday it expected its first-quarter operating earnings to decline more than 10 percent on-year despite the company strong overall sales of its home appliances. LG estimated that its operating profit for the January-March period came in at 1.33 trillion won ($983.2 million), down 11 percent from a year ago, according to the company’s earnings guidance. But this was still above the consensus of 1.28 trillion won predicted by local analysts, as provided by the market inte

Technology April 5, 2024

Samsung Electronics predicted a more than tenfold increase in its operating profit for the the January-March period, signaling a dramatic resurgence in its semiconductor business on rebounding demand for memory chips. Samsung’s first-quarter operating profit is estimated to hit 6.6 trillion won ($4.89 billion), up 931.3 percent from a year ago, according to its earnings guidance. The amount surpassed the consensus of 5.26 trillion won predicted by local analysts, as provided by the market

Technology April 5, 2024