Samsung Electronics said Tuesday it reduced its deficit in the memory chip business in the July-September period while posting better-than-expected profits in mobile and display businesses. Samsung's device solutions division in charge of the company’s semiconductor business marked losses of 3.75 trillion won ($2.78 billion) for the division's third consecutive quarter of losses. So far this year, its chip losses have amounted to 12.7 trillion won, the company said in its third-q

Technology Oct. 31, 2023

Apple’s latest flagship smartphone series -- the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max -- debuted in Korea earlier this month with higher price tags than elsewhere. The new phones are priced from 1.25 million won to 1.90 million ($926.20-$1,407.80) here. Compared to their prices sold in the US, Japan and China, the Korean prices are almost 10 to 20 percent higher. But Apple’s pricing policy seems to have little impact on Koreans’ love for iPhones. Accor

Technology Oct. 31, 2023

LG Electronics said Monday it held the Global IT Challenge, a five-day IT skills competition for youth with disabilities, in Abu Dhabi, UAE, last week. Since its launch in 2011, more than 5,000 students from 40 countries have participated in the competition, which aims to enhance their accessibility to IT services and help them advance into society. (LG Electronics)

Technology Oct. 30, 2023

South Korean home appliance giant LG Electronics said Friday it would further develop strategies tailored to each country's consumption patterns and demand to deal with the aggressive global market penetration of Chinese rivals. "Chinese firms have deviated from a low-cost strategy and are actively investing in each production region, while strengthening their products and brand power," Kim I-kueon, vice president and head of home appliance and air solution business division at LG

Technology Oct. 27, 2023

Friday is the first anniversary of Samsung Electronics Executive Chairman Lee Jae-yong's official ascension to the top post at Korea's largest conglomerate. Over the past year, the Samsung chief conducted various management activities to explore new opportunities, laying the foundation for his own “New Samsung” vision, while succeeding the legacy of his father, the late Chairman Lee Kun-hee, who died three years ago. Experts agree that his push for “supergap technology” i

Technology Oct. 26, 2023

SK hynix, the world’s second-largest memory chip maker, said Thursday that it plans to boost its investment in high-value DRAM chips such as High Bandwidth Memory and DDR5, in line with the growth of the artificial intelligence market. “The capital expenditure for next year will increase compared to this year. … We’ll minimize the expansion by considering investment efficiency and financial stability,” Kim Woo-hyun, vice president and chief financial officer at SK

Technology Oct. 26, 2023

Competition is heating up between South Korean chip rivals Samsung Electronics and SK hynix to take the lead in the Compute Express Link, or CXL, technology amid its ongoing High Bandwidth Memory chip supremacy war. Although the market is still at the nascent stage, the two global DRAM leaders are seeing CXL as a potential game changer. CXL is an open, industry-supported interconnect between processors and devices such as accelerators, memory buffers and smart devices. It is considered a key tec

Technology Oct. 24, 2023

KT Corp. said Sunday it is teaming up with Thailand’s telecom giant Jasmine Group to co-develop an artificial intelligence language model specialized in Thai and to launch related services together in Southeast Asia. Following the signing of a memorandum of understanding in September last year, top executives, including KT CEO Kim Young-shub and Jasmine Group Chairman Pete Bodharamik, gathered in Seoul on Thursday to discuss more details of the partnership. Under the extensive partnership,

Industry Oct. 22, 2023

Samsung Electronics unveiled its newest chip technologies and products at its annual global event in San Jose, California, Friday, eyeing a key role in providing hyperscale artificial intelligence models. Under the theme of “Memory Reimagined,” about 600 people, including technicians, analysts and industry officials, attended this year’s Memory Tech Day to look into Samsung’s technologies in areas such as cloud, edge devices and automobiles. The tech giant unveiled its la

Technology Oct. 21, 2023

SK Group Chairman Chey Tae-won urged top executives of the group's affiliates to respond with agility to survive in a fast-changing market environment and deepening geopolitical crisis, according to the group on Thursday. In the closing ceremony of the group's annual CEO seminar held in Paris on Wednesday (local time), Chey spoke about his awareness to executives of the group’s key affiliates and announced he would start implementing measures to counter risk factors in the macro

Industry Oct. 19, 2023

A week ahead of the third anniversary of the late Samsung Group Chairman Lee Kun-hee’s death, scholars gathered at a global academic conference in Seoul on Wednesday, looking back on his management initiatives introduced three decades ago. About 300 scholars from Korea and abroad attended the event hosted by the Korean Academic Society of Business Administration, reminiscing about the late Samsung patriarch’s business philosophy, leadership and contributions to Korean society. &ldquo

Technology Oct. 18, 2023

South Korea’s Trade Minister Ahn Duk-geun said Tuesday that the US government’s recent decision to allow exports of its chip equipment to Samsung Electronics and SK hynix plants in China has greatly relieved uncertainties surrounding the top memory chip makers’ operation and investment there. “The latest achievement came after mobilizing all consultation channels centering on the presidential office and the Ministry of Trade, Industry and Energy, while closely communicati

Technology Oct. 17, 2023

SK Group will hold its annual CEO meeting – one of the biggest gatherings of its top executives – in Paris this week to discuss its management strategies amid the backdrop of rising global uncertainties, according to industry sources on Monday. About 30 CEOs, together with Chairman Chey Tae-won, Executive Vice Chairman Chey Jae-won and SK Discovery Vice Chairman Chey Chang-won, will participate in this year’s three-day seminar starting later Monday. It marks the first time in 1

Industry Oct. 16, 2023

Not satisfied with its dominant position in the Korean market, Amazon Web Services, the cloud business arm of US tech giant Amazon, appears to be attempting to occupy an even greater presence here with an aggressive investment strategy, putting domestic companies under growing pressure. According to a recent announcement made by AWS in Seoul, it plans to invest 7.85 trillion won ($5.88 billion) in Korea’s cloud computing infrastructure by 2027. The amount is about triple its previous 2.73

Technology Oct. 15, 2023

SK Group Chairman Chey Tae-won (left) attends a memorial stone unveiling event for two US veterans – the late Colonel William E. Weber and late Major General John Kirk Singlaub – held in Paju, Gyeonggi Province, Thursday, with their bereaved family members also in attendance. Lauding the veterans who fought in the 1950-53 Korean War, the SK chief said that they "gave us the seed of liberal democracy." The event was held in in commemoration of the 70th anniversary of the Sou

Industry Oct. 12, 2023