A former Samsung employee was banned from moving to US rival Micron Technology after the Korean tech giant took the issue to court amid growing concerns over illicit tech transfer. Seoul Central District Court on Sunday accepted Samsung Electronics’ petition for an injunction to ban a key employee from moving to US chip rival Micron Technology just three months after quitting the Korean chipmaker. "DRAM technology is designated as national strategic technology and protection of the te

Industry June 26, 2023

Accompanying South Korean President Yoon Suk Yeol on his state visit to Vietnam as part of the presidential delegation, South Korean companies were seen ramping up their business ties in the Southeast Asian country. In a banquet inviting his largest economic delegation on Thursday, Yoon urged the business leaders to take the lead to explore new business opportunities with Vietnam, which is South Korea's third-largest trading partner. "New opportunities are being created for South Korea

Industry June 23, 2023

Apple's first manufacturing research and development accelerator discussed the impacts of artificial intelligence and machine learning in smart manufacturing with small and medium-sized businesses in South Korea, the iPhone maker said Friday. Apple Manufacturing R&D Accelerator held its first Smart Manufacturing Forum in Pohang, North Gyeongsang Province, for two days from Wednesday, inviting hundreds of guests from SMEs, industry experts and academia to exchange insights on smart manuf

Industry June 23, 2023

SK hynix, the world’s third-largest memory chipmaker, said Friday it introduced its next-generation memory technologies and products at an IT conference in the US. The Korean tech giant said it joined the HPE Discover 2023 event held by Hewlett Packard as an exhibitor, showcasing its industry-leading memory solutions for data centers. The annual conference was held in Las Vegas for three days starting Tuesday. SK said it showcased PS1010 E3.S, a high-performance Peripheral Component Inte

Technology June 23, 2023

With South Korean President Yoon Suk Yeol taking his largest economic delegation involving top conglomerate chiefs on a state visit to Vietnam on Thursday, anticipation is growing on new joint business opportunities their trip will create for the two countries. For the three-day state visit, Yoon has formed his largest-ever delegation to accompany him, consisting of 205 entities -- 24 conglomerates, 28 mid- and small-sized companies, six economic lobbying groups, six economic associations and th

Industry June 22, 2023

South Korea’s top conglomerate chiefs were to meet with French President Emmanuel Macron in Paris on Wednesday, as they are in Paris to promote Busan's bid to host the 2030 World Expo. According to industry sources on Wednesday, the four chiefs of Korea’s top conglomerates -- Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo -- arrived in Paris Monday to kick off their Paris tri

Industry June 21, 2023

LG Electronics said Tuesday that one of its senior researchers has been reappointed to lead a working group in an American mobile technology alliance for 6G technology development. Lee Ki-dong, senior researcher in LG Electronics' Chief Technology Officer division, has been reappointed as the chairperson of the Applications Working Group in the Next G Alliance until May 2025. He was first appointed to the position in 2021. The Next G Alliance is an industry initiative launched by the US-b

Industry June 20, 2023

South Korean telecommunications giant KT and Samsung Seoul Medical Center are teaming up to export Korea's medical services and digital technology for hospitals, KT said Saturday. The two sides signed an agreement on Friday, under which they will work together to come up with a monitoring system that uses digital health care devices to check up on patients, and to conduct joint research on ways to use artificial intelligence in hospitals using big data. KT is currently preparing to open a m

Industry June 18, 2023

Samsung Electronics has joined hands with Pixar Animation Studios to run animated movies on its Onyx Cinema LED screens, offering significantly enhanced picture quality, the company said Sunday. Under their partnership, Pixar made its latest movie, “Elemental,” available for 4K HDR resolution. HDR produces a brighter, clearer image when compared to the conventional SDR resolution. Samsung’s Onyx Cinema LED screen is the world’s first LED cinema screen. The extraordinary d

Technology June 18, 2023

Major conglomerates are holding management meetings to review their performance in the first half of the year and to discuss strategies to avoid crisis in the remaining half of 2023. SK Group, South Korea's second largest conglomerate group by revenue, held the 2023 Extended Management Meeting on Thursday, gathering top executives of its affiliates to discuss the group's action plans for the second half of the year, and to share their long-term visions. SK Chairman Chey Tae-won attende

Industry June 15, 2023

South Korean chipmakers would be able to continue operating and upgrading their chip manufacturing plants in China, as the US is reportedly considering to extend the exemption on export controls against China. US Undersecretary of Commerce for Industry and Security Alan Estevez told an audience at an industry gathering last week that the government aims to extend exemptions for South Korean and Taiwanese chip suppliers with their facilities in China, according to a report by the Wall Street Jour

Industry June 14, 2023

Samsung Electronics said Tuesday it is introducing more flexible working hours by allowing employees to take one Friday off per month. Keen attention is being paid to the brand new working hour scheme launched by the nation’s largest company by sales, renewing discussions about the idea of a four-day workweek, two decades after a five-day workweek was introduced back in 2002. Samsung’s new policy will be applied to all employees who fulfill the required work hours of 160 to 168 hours

Industry June 13, 2023

A former executive of Samsung Electronics has been taken into custody for leaking the tech giant’s confidential business information to build a copycat semiconductor manufacturing plant in China, a local prosecutor’s office said Monday. In a press conference, the Suwon District Prosecutors’ Office revealed it has arrested the 65-year-old former executive of Samsung for violating the Prevention of Divulgence and Protection of Industrial Technology Act and the Unfair Competition

Industry June 12, 2023

South Korea’s largest private equity firm, Hahn & Company, announced Friday it has signed a definitive agreement with Lutronics jointly to launch a tender offer for all remaining shares of the Korean medical device maker, worth 957 billion won ($735.9 million). Lutronic, established in 1997, has been expanding its global presence supplying aesthetic medical devices in overseas markets, according to Hahn & Co. In 2022, Lutronic reported sales of over 264 billion won in 2022, with 40

Industry June 9, 2023

South Korea has become the fourth country to join the world’s first multilateral digital trade agreement, the Digital Economic Partnership Agreement, to boost its digital content and service exchange, the Trade Ministry said Friday. Trade Minister Ahn Duk-geun met with his counterparts from the three DEPA member states -- Singapore, New Zealand and Chile -- on the sidelines of their Organization for Economic Cooperation and Development ministerial council meeting in Paris, to finalize the

Industry June 9, 2023