With the advances in artificial intelligence, there is a growing demand for cutting-edge memory chips. As the technology environment has evolved, SK hynix vice president expressed his ambition to contribute to the development of the highest-performance memory products through advanced packaging technologies. “Package and test (P&T) technology is turning into a crucial factor in the battle for semiconductor leadership,” Choi Woo-jin, vice president in charge of SK hynix’s pa

Technology April 11, 2024

Samsung Electronics retained its No. 1 spot in the US home appliance market for an eighth consecutive year, dating to 2016, thanks to strong sales of key household products including refrigerators and washers, industry data showed Wednesday. According to market tracker TraQline, Samsung notched a 20.9 percent market share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percen

Technology April 10, 2024

The Samsung Innovation Museum, Korea's largest electronics industry museum, located at Samsung Electronics' headquarters in Suwon, Gyeonggi Province, marks its 10th on April 21. Since its grand opening in 2014, the museum has attracted some 500,000 visitors from 180 countries, including state guests from 23 countries. The 10,950-square-meter museum houses some 150 historical products such as light bulbs invented by Thomas Edison, transistor radios and TVs, as well as a multi-purpose Sa

Industry April 10, 2024

LG Electronics said Friday it expected its first-quarter operating earnings to decline more than 10 percent on-year despite the company strong overall sales of its home appliances. LG estimated that its operating profit for the January-March period came in at 1.33 trillion won ($983.2 million), down 11 percent from a year ago, according to the company’s earnings guidance. But this was still above the consensus of 1.28 trillion won predicted by local analysts, as provided by the market inte

Technology April 5, 2024

Samsung Electronics predicted a more than tenfold increase in its operating profit for the the January-March period, signaling a dramatic resurgence in its semiconductor business on rebounding demand for memory chips. Samsung’s first-quarter operating profit is estimated to hit 6.6 trillion won ($4.89 billion), up 931.3 percent from a year ago, according to its earnings guidance. The amount surpassed the consensus of 5.26 trillion won predicted by local analysts, as provided by the market

Technology April 5, 2024

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