South Korean IT solutions provider Samsung SDS logged a record sales of 17.2 trillion won ($14 billion) in 2022 that was driven by an expansion in its cloud business, the firm said Thursday. In a regulatory filing, the company said its annual sales in 2022 saw a growth of 26 percent when compared to the previous year. It also posted an operating profit of 916.1 billion won. In the fourth quarter of 2022, the company garnered 4.25 trillion won in sales and an operating profit of 187.5 billion won

Industry Jan. 26, 2023

South Korean chipmaker SK hynix said Wednesday it has developed the world’s fastest mobile DRAM chips that have already been delivered to customers. The new product, named Lower Power Data Rate 5 Turbo, or LPDDR5T, operates at a data rate of 9.6 gigabits per second, 13 percent faster than the previous generation the company rolled out last November. According to the world's second-largest memory chipmaker, the low-power memory chip for mobile devices such as smartphones and tablet

Industry Jan. 25, 2023

South Korean builder Daewoo E&C said Friday it opened an education school to train experts in welding and scaffolding, as part of its social outreach project. The center launched training programs for welding and scaffolding, the two skills that are large in demand in Nigeria, Daewoo E&C said. The welding program began on Jan. 11, and it aims to foster 100 welders in six seasons, with each season lasting for three months. The scaffolding program also began on Monday. Those who complete t

Industry Jan. 20, 2023

DAVOS, Switzerland -- Vestas announced plans to invest $300 million in Korea at a ceremony held Wednesday at a hotel in Davos, Switzerland, with President Yoon Suk Yeol attending, according to the presidential office Thursday. Yoon attended the investment declaration ceremony of wind turbine manufacturer Vestas in Switzerland. Vestas is a Danish company that ranks first in the world in terms of wind power installation. Vestas plans to establish a large-scale turbine parts production plant in K

Foreign Affairs Jan. 19, 2023

Micro light-emitting diode, or microLED, has become a buzzword in tech, as Apple -- the world’s largest consumer electronics company by revenue -- is reportedly working to use the sophisticated display technology in upcoming Apple Watches while reducing the use of organic light-emitting diode displays, whose key suppliers are South Korea’s Samsung and LG. In recent years, OLED has been increasingly used in high-end TVs, smartphones and wearable devices to offer better picture quality

Industry Jan. 18, 2023

Samsung Electronics unveiled Tuesday its latest 200-megapixel image sensor, the Isocell HP2, with significantly improved resolution and upgraded picture quality for premium smartphones. The new image sensor packs 200 million 0.6-micrometer pixels in a 1/1.3-inch optical format, a sensor size that is widely used in 108MP main smartphone cameras, according to Samsung. This enables the latest high-end smartphones to create higher resolutions, while minimizing the camera bumps on the devices. &ldquo

Industry Jan. 17, 2023

Top executives of Samsung, SK and Hyundai are accompanying South Korean President Yoon Suk Yeol on his state visit to the United Arab Emirates as well as to the World Economic Forum, as part of an official business delegation aimed at boosting economic cooperation. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and Hyundai Motor Group Chairman Chung Euisun are among the chiefs of 100 South Korean companies making up the business delegation, according to industry source

Industry Jan. 15, 2023

Having announced its plans to make more chips on its own, Apple, the world’s largest consumer electronics company by revenue, is now reportedly seeking to use its own displays whose supplies are heavily reliant on South Korea’s Samsung Display and LG Display. Bloomberg reported Wednesday that Apple is planning to start using its own micro light-emitting diode displays on its smartwatches as early as the end of 2024, possibly with the aim to reduce its reliance on Korea-made displays.

Industry Jan. 12, 2023

SAN JOSE, California -- At the heart of Silicon Valley, home to world's largest tech giants, stands a landmark 10-story building in the shape of a three-layer stack of NAND flash memory chips. The symbolic building is the headquarters of Samsung Electronics Device Solutions America, which oversees the production of semiconductors in the United States -- a market that takes up more than half of the global chip demand. Opening the US headquarters to Korean media on Saturday, Sue Kim, the he

Industry Jan. 11, 2023

LAS VEGAS – The prolonged economic recession and inflation is drawing a grim outlook for semiconductor and display industries, even for top players such as South Korea’s Samsung and LG. But Merck Electronics CEO Kai Beckmann says that companies will persist, as demand for chips and displays will continue to grow, in the long run. “The electronics industry, ever since it developed, has had ups and downs. It is kind of a normal phenomenon in our industry. The good thing is that,

Industry Jan. 9, 2023

LAS VEGAS -- LG Electronics CEO Cho Joo-wan pinned high hopes on the South Korean tech giant’s burgeoning automotive solutions business, pledging to diversify its business portfolio to tackle challenges this year. “Our automotive solutions business has made a turnaround 10 years since the launch. Now that the business is on the highway, what is left to do is to step on the accelerator,” Cho said during a press conference held Friday on the sidelines of the CES trade show in Las

Industry Jan. 8, 2023

LAS VEGAS – Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said the South Korean tech giant was bracing for a rough year ahead, renewing his commitment to seeking new growth drivers in futuristic technologies such as robots and the metaverse. “Overlapping crises, including the prolonged economic recession, geopolitical tension, supply chain risks and climate change, have drastically increased uncertainty in the market,” Han said at a press conference Friday held on

Industry Jan. 8, 2023

LAS VEGAS -- SK hynix Vice Chairman Park Jung-ho said Thursday the merger of two memory competitors -- US’ Western Digital Corp. and Japan’s Kioxia Holdings Corp. -- "will not be easy," shrugging off the possibility of the two chipmakers' tie-up that could transform the business landscape. Earlier in the day, Bloomberg reported that Western Digital and Kioxia are considering merging into one publicly traded company, citing unnamed sources. The structure of the potent

Industry Jan. 6, 2023

LAS VEGAS -- LG Electronics Chief Executive Officer Cho Joo-wan underscored the company’s commitment to its “customer-centric vision” at the world's largest home appliance convention Wednesday, highlighting that the key to the tech giant’s successes lies in the customers. During the LG World Premiere press conference held on the sidelines of CES in Las Vegas, the CEO shared the company’s continuous efforts to pursue innovation to improve people's lives o

Technology Jan. 5, 2023

LAS VEGAS -- Samsung Electronics Vice Chairman Han Jong-hee shared a detailed vision to create "calmer" connected world to heighten connectivity among devices, and reiterated the company's pursuit of net-zero emissions at the world's largest home appliance convention, Wednesday. In a press conference held on the sidelines of the CES in Las Vegas, Han, who is also the chief executive officer and the head of the Device eXperience overseeing home appliances and mobile devices

Industry Jan. 5, 2023