South Korean semiconductor powerhouse SK hynix said Thursday it will invest about $3.87 billion to build an advanced chip packing fabrication and research and development facility in West Lafayette, Indiana, amid intensifying global competition in the burgeoning artificial intelligence memory semiconductor industry. The announcement was made at an investment agreement ceremony attended by officials from SK hynix, the state government of Indiana and Purdue University at the school on Wednesday. S

Technology April 4, 2024

Hyundai Motor Group has become the largest shareholder of the nation's telecom giant, KT Corp. -- a rare move that is driving speculation about the carmaker's investment strategy and the possible impacts on KT's business direction. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on March 20, lowering its stake to 7.51 percent from 8.53 percent, the regulatory filing showed Tuesday. This is the first time that

Industry April 3, 2024

LG Group’s symbolic LG Twin Towers, a landmark in Yeouido, where its major affiliates including LG Electronics are headquartered, has been transformed into modern office spaces incorporated with nature-inspired elements to create a harmonious work and life integration. When The Korea Herald reporter visited the LG Twin Towers on Monday morning, the first day of the building's completed renovation, employees seemed to have beaten the Monday blues and were filled with excitement and lau

Industry April 2, 2024

Hyosung Group Honorary Chair Cho Suck-rai, the father of incumbent Chair Cho Hyun-joon, died of a chronic disease at the age of 89, according to industry sources Friday. It has been seven years since he stepped down from his top management post in 2017 due to his advanced age and health. Born as the eldest son of Hyosung founder Cho Hong-jai in 1935, Cho Suck-rai pursued his academic interests in chemistry at Japan's Waseda University and earned a master's degree in chemical engineerin

Industry March 29, 2024

Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction and energy arm of Samsung Group that acts as a holding company for major affiliates of the group, said Friday that it named Lee as the president, who is in charge of the company’s strategy planning. “She is expected to con

Industry March 29, 2024

Samsung Electronics said Friday it has opened a new TV experience zone in Singapore's Jewel Changi Airport -- the lush entertainment and retail complex connecting Changi Airport's terminals 1, 2 and 3 -- to introduce its latest products. The tech giant will display there its newest products, including the 2024 Neo QLED 8K TV, equipped with a third-generation artificial intelligence 8K processor, and OLED TVs that preserve color accuracy and reduce reflections while maintaining image sh

Industry March 29, 2024

Korean IT giant Kakao on Thursday appointed Chung Shin-a as its first female, chief while it is facing urgent challenges in revamping its corporate culture and management. The announcement was made as she gained a nod from shareholders during the annual meeting and a separate approval from the board of directors earlier in the day at the company’s headquarters in Jeju Island. After being named as the CEO nominee in December, Chung has served as the head of the company’s innovation ta

Technology March 28, 2024

South Korean IT solutions provider LG CNS said Thursday it has agreed to establish a joint venture with one of the largest conglomerates in Indonesia to strengthen digital transformation innovation in the 16th largest economy in the world. Under the agreement, LG CNS and Sinar Mas Group will set up a 50-50 joint venture in the latter half of this year to promote consulting, construction and operation for data center services and cloud conversion services, targeting Indonesian companies and publi

Technology March 28, 2024

LG Group unveiled a plan Wednesday to invest 100 trillion won ($74.3 billion) in South Korea by 2028 as it seeks to secure technological competitiveness and expand new growth engines. The announcement was made during the regular shareholders meeting of its holding company LG Corp., held at the Seoul headquarters earlier in the day. The company said the planned investment accounts for 65 percent of LG’s overall global investment by 2028, which reflects its commitment to driving innovation a

Technology March 27, 2024

Amid the escalating US-China rivalry, global supply chains are being reshaped and India, the world’s fifth-largest economy, is getting fresh attention from South Korean tech giants. India boasts the world’s largest population, at over 1.4 billion people, and a robust economy that has experienced substantial growth over the last three decades. Korea’s major conglomerates, which have already secured a sizeable footing in the burgeoning market, are more recently pouring resources

Technology March 27, 2024

South Korean IT solutions provider LG CNS said Tuesday it has teamed up with Vietnam’s largest IT firm to carry out the group’s digital transformation project there. LG CNS recently signed a memorandum of understanding with Hanoi-based FPT Corp. at the Korean IT solutions provider’s headquarters in Seoul. The recent deal is the outcome of the two firms’ years of cooperation as IT partners since 2019, LG CNS officials said. FPT Corp. is a global IT company leading Vietnam&

Technology March 26, 2024

LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul. Koo’s comments come as LX Group spun off from LG Group in 2021

Industry March 25, 2024

While forecasting high uncertainties in the macroeconomic environment this year, Samsung Electronics Vice Chairman Han Jong-hee vowed to make efforts to expand technological innovation in burgeoning artificial intelligence and new businesses for sustainable growth. “Along with the high economic uncertainties, we expect new opportunities to increase through next-generation technological innovations such as the full-fledged launch of the AI ​​era,” Han said during this year's annu

Industry March 20, 2024

SK hynix, the world’s second-largest memory chip maker, said Tuesday it has begun mass production of its latest HBM3E chips, the next-generation top-performing DRAM for artificial intelligence applications, solidifying its leadership position in the High Bandwidth Memory market. The chip maker said it will deliver the new chips to its clients at the end of this month after finishing the verification process. SK hynix is a major supplier to the US AI chip leader Nvidia but declined to revea

Technology March 19, 2024

Korean internet giant Naver said Friday it would introduce a set of news service policies to enhance transparency and impartiality, with the intention of preventing defamatory media reports and strengthening measures againsts users who leave comments that violate election laws. To protect users who have suffered defamation or infringement of their rights due to media reports, Naver will provide easier access to request corrections and respond to articles online. The company will create a separat

Industry March 15, 2024