The South Korean government and major carmakers will jointly invest more than 14.3 trillion won ($10.9 billion) to promote the transition of the conventional auto parts industry to gear up for a "speedy" and "flexible" transformation for future mobility, the Industry Ministry said Tuesday. In a roundtable meeting of private auto and automotive parts companies, the Ministry of Trade, Industry and Energy announced a support measure under which the government and automakers will

Industry May 23, 2023

ASM, a global supplier of semiconductor wafer processing equipment, will break ground on its second headquarters in South Korea Wednesday, under expansion plans to boost research and production capacity of an advanced chip processing equipment solution it produces only in the country. Underscoring how South Korea already has the company’s third-biggest R&D and manufacturing facilities after the United States and Singapore, ASM President and CEO Benjamin Loh vowed to further invest to e

Industry May 23, 2023

China is banning its key infrastructure firms from buying products made by US memory chipmaker Micron Technology for failing its security probe. The first such critical ban from the Chinese government comes amid its intensifying rivalry with Washington, and has prompted concerns for Korean chipmakers operating their key manufacturing facilities there. The Cyberspace Administration of China said Sunday the US chip manufacturer has failed its network security probe, that company's products po

Industry May 22, 2023

As the world's No. 2 and No. 4 NAND flash suppliers of Japan and the United States are discussing a potential merger to achieve market prowess, eyes are on how the move will impact the current market leader Samsung Electronics. In a report last week, Reuters said Japan's Kioxia Holdings and the US' Western Digital -- ranked the world's second- and fourth- biggest memory chip makers, respectively -- are reportedly in talks for a merger, renewing their previous discussion from

Industry May 21, 2023

Samsung Electronics, the world’s largest memory chip maker, said Thursday it kicked off the mass production of its 16-gigabit DDR5 DRAM, which utilizes the industry’s most advanced 12 nanometer-class process technology. Boasting a maximum speed of 7.2 gigabits per second, which translates into speeds that can process two 30 gigabyte UHD movies in about a second, Samsung’s newest DRAM lineup will support a growing list of applications including data centers, artificial intellige

Industry May 18, 2023

Samsung SDS announced Thursday the company’s plan to upgrade Cello Square, its digital forwarding platform offering one-stop freight shipping solutions, and tap deeper into the global market, through further digitalization. The IT solution provider affiliated with Samsung Group also explained that it has added new service functions to Cello Square -- data analysis, automation and a carbon emission tracker -- to make it more convenient for clients. “Cello Square will lead Samsung SDS&

Industry May 18, 2023

LG Display, which has been suffering operating losses in recent months, could turn a profit next year if it starts supplying OLED panels to Samsung Electronics as early as this quarter, an analyst report said Wednesday. “LG Display is expected to supply 77-inch, 83-inch OLED panels to Samsung Electronics from the second half of this year, and add 55-inch and 65-inch panels to the deal,” Kim Dong-won, an analyst at KB Investment and Securities, said in the report. “The deal woul

Industry May 17, 2023

Japanese Prime Minister Fumio Kishida has invited the heads of global chipmakers, including Samsung Electronics, to meet, in an apparent move to boost his nation’s chip industry, according to Japan’s Yomiuri Shimbun newspaper on Wednesday. The media outlet said a total of seven companies -- Samsung, TSMC, Intel, IBM, Micron, Applied Materials and Interuniversity Microelectronics Center -- will join the rare meeting to be held at Kishida’s official residence in Tokyo on Thursday

Industry May 17, 2023

Major companies in South Korea witnessed their operating profit nearly halve on-year in the first quarter this year, as the country’s key semiconductor industry struggles from its worst downturn, a corporate tracker said Tuesday. According to corporate data research institute CEO Score, the combined operating profits of 309 of the top 500 Korean companies by sales marked 25.8 trillion won ($19.3 billion) in the January-March period this year – a plunge by 48.8 percent from 50.5 trill

Industry May 16, 2023

Solidigm, an SK hynix subsidiary and NAND flash memory solutions provider, appointed a data center expert along with a mergers and acquisitions strategist as its new co-chief executive officers, the company said Tuesday. The two new CEOs are David Dixon, senior vice president and general manager of Solidigm's data center group, and Noh Jong-won, chief business officer of Solidigm and a president of SK hynix. The company said it selected the two people based on their "proven leadership&

Industry May 16, 2023

Samsung Electronics, the world’s top chipmaker by revenue, is reportedly considering building an additional research and development facility in Japan amid a thaw in Seoul-Tokyo relations. Japanese media outlet Nikkei reported on Sunday that the Korean chipmaker will build a chip development facility estimated to cost some 30 billion yen ($220 million) in Yokohama, where it already has Samsung R&D Institution Japan. There, Samsung will build a prototype chip production line with the fa

Industry May 15, 2023

Korea Electric Power Corp. President and CEO Cheong Seung-il offered to resign Friday, as the state-operated power utility firm announced a 25 trillion won ($18.7 billion) self-rescue measure to overcome swelling deficit. Cheong's resignation came after Kepco announced its self-rehabilitation plan, which includes selling off of property assets and wage freeze to improve financial stability. The CEO was appointed to the post in June 2021, and was set to serve for another year in his term. &q

Industry May 12, 2023

As display panel makers of South Korea and China are vying to win greater global market share, the rivalry appears to be expanding into a patent war. Chinese top display panel manufacturer BOE Technology and two of its subsidiaries recently filed six lawsuits against Samsung Display and its five Chinese entities concerning patent infringement at Chongqing No. 1 Intermediate People’s Court in southwestern China, according to the court. The Beijing-based firm also took two legal proceedings

Industry May 11, 2023

South Korea will expand financial support measures and invest 180 billion won ($135.9 million) in technological development for autonomous vessels and eco-friendly ships to cement local shipbuilders' top position in the global market, the Trade Ministry said Wednesday. Marking the first anniversary of the Yoon Suk Yeol administration, Trade Minister Lee Chang-yang traveled to Ulsan to inspect the shipyards there and go over past achievements. In addition to announcing financial support plan

Industry May 10, 2023

South Korea on Tuesday introduced its first blueprint on research and development of the chip industry, aimed at fostering next-generation memory and logic chips amid rising global competition. Under the 10-year R&D road map, the Ministry of Science and ICT outlined its pursuit of technological advancement in three areas of next-generation memory and logic chips, and advanced packaging. The ministry vowed to support the semiconductor industry to produce faster, more energy efficient and higher c

Industry May 9, 2023