Articles by Jie Ye-eun
Jie Ye-eun
yeeun@heraldcorp.com-
Samsung Electronics' Q4 operating profit set to plunge nearly 70%
Samsung Electronics predicted Friday that its 2022 fourth-quarter operating profit would plummet 69 percent from a year earlier, as its main semiconductors business faced major headwinds from weakening demand for chips and home appliances amid recession woes. In its earnings guidance, the South Korean tech giant estimated its October-December operating profit to be 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year prior. The figure was lower than the consensus 6.93 trillion wo
Technology Jan. 6, 2023
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[CES 2023] LG's OLED tech marks 10th anniversary
LAS VEGAS -- In celebration of the 10th year of launching LG’s first organic light emitting diode (OLED) TVs, LG Electronics and LG Display jointly celebrated the big day in Las Vegas, Wednesday. With some 150 people of the companies’ executives and staff members, industry officials and experts joining the event, the LG subsidiaries looked back on the past decade of their OLED history and shared their visions for the future directions of display technology developments. After overcom
Technology Jan. 5, 2023
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[CES 2023] LG Innotek to show off self-driving tech at CES
LAS VEGAS -- LG Innotek said Thursday it will showcase a series of its latest innovative technologies and products related to autonomous driving and the metaverse at the Consumer Electronics Show 2023 set to be held from Thursday to Monday in Las Vegas. It will mark the first time the electronics component manufacturer opens a booth to the public at the annual event, the world’s largest tech convention. Previously, the company had only invited clients to introduce new products. In line w
Technology Jan. 5, 2023
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[KH Explains] Will hefty tax breaks be Korean chipmakers’ savior?
The South Korean Finance Ministry on Tuesday proposed a plan to further expand tax breaks for the semiconductor industry to the world’s highest level amid escalating competition among chip powerhouses globally. The local industry hailed the decision as indicating the government’s renewed commitment to boosting the crucial chip industry, but uncertainties remain about its effectiveness, and whether it will be approved in parliament. “It is true that the revision comes belatedly,
Industry Jan. 4, 2023
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Tesla slapped with W2.85b in fines for misleading ads
South Korea’s antitrust regulator said Tuesday it is imposing a fine of over 2.85 billion won ($2.23 million) on US electric vehicle maker Tesla and Tesla Korea for deceiving local consumers with false and exaggerated advertisements. The penalty on Tesla is assessed for advertising its battery performance on its official website here dating to August 2019 for exaggerating that its electric vehicles can drive more than its driving range on a single charge, the Fair Trade Commission said. Ci
Industry Jan. 3, 2023
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‘Seize chances to thrive in times of crisis’
By Business Desk New opportunities can arise from out of crises. Chiefs of Korea's top conglomerates are banking on words of wisdom for the year ahead as businesses face an age of relentless changes stemming from geopolitical conflicts, inflationary pressures and a recessionary environment. To overcome factors dragging on business activities, uncovering their own path to thrive for growth has become more important than ever as traditional approaches and paradigms have been challenged. In
Industry Jan. 2, 2023
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[Newsmaker] Chip supremacy gives South Korea more geopolitical freedom: lawmaker
Rep. Yang Hyang-ja, a former executive at Samsung Electronics’ semiconductor business division, called securing a competitive edge in chips a “matter of life and death” amid the ever-evolving geopolitical landscape and an escalating US-China rivalry. “The winner of the global chip battle will control the economic security order, while the loser will end up becoming a technological colony,” Yang, who heads the ruling People Power Party’s special panel on chips,
Economy Jan. 2, 2023
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Yoon orders finance ministry to consider bigger tax break for chip sector
President Yoon Suk-yeol on Friday ordered ministries to actively consider measures further expanding tax incentives for the semiconductor sector and other national strategic industries. Yoon requested the Ministry of Economy and Finance to come up with ways to further expand tax benefits for national strategic technologies such as semiconductors as they are "our security assets and core technologies," a president office’s deputy spokesperson said. His remark came after the ruling
Economy Dec. 30, 2022
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Samsung to offer hefty bonuses to workers at chip business division
Samsung Electronics will provide a maximum of 50 percent of their annual salaries as bonuses to the employees of its chip business unit at the end of January, industry sources said Thursday. The world's biggest memory chipmaker has reportedly informed its executives and employees about the detailed plan for annual incentives, dubbed the overall performance incentive (OPI), a day earlier. Samsung rewards its executives and employees every January with up to 50 percent of their salaries withi
Industry Dec. 29, 2022
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KT CEO seeks second term on upbeat sales
South Korean telecom giant KT Corp. said Wednesday it has appointed its incumbent CEO, Ku Hyeon-mo, as the final candidate to take the helm at the company. The company’s CEO candidate review committee on the same day assessed whether Ku was eligible for a second three-year term. After conducting preferential reviews for seven times, the committee informed the company’s board of directors that Ku is qualified. The KT CEO will be elected at the regular general meeting of shareholders
Industry Dec. 28, 2022
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[Photo News] Convertible Laptop
Samsung Electronics on Wednesday unveiled its Galaxy Book2 Pro 360, a 2-in-1 laptop with a 360-degree hinge that flips from PC to tablet in a snap, while offering a touch screen and S Pen. The product is equipped with the Qualcomm Snapdragon 8cx Gen 3 processor. It rolls out on Jan. 16.
Technology Dec. 28, 2022
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Samsung CEOs hold rare meeting amid recession woes next year
South Korea’s largest conglomerate Samsung Group recently held a rare gathering of CEOs of all affiliates in an apparent move to ramp up preparedness for a global economic downturn next year coupled with falling chip prices, unfavorable currency rates and further rate hikes, according to industry sources on Wednesday. The high-level meeting was convened at the Samsung Electronics Leadership Center in Yongin, Gyeonggi Province on Monday, according to industry sources who wished to remain
Technology Dec. 28, 2022
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Samsung drives 63% surge in foldable phone sales in Q3
Global shipments of foldable smartphones shot up more than 60 percent in the third quarter this year, despite the stagnant smartphone market, owing to high sales of Samsung Electronics’ foldable devices, according to industry tracker Counterpoint Research on Tuesday. From July to September, foldable smartphone shipments worldwide surged about 63 percent on-year to 6.08 million units. Although the global smartphone market posted stagnant sales, foldable items accounted for 2 percent of th
Technology Dec. 27, 2022
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Public utility charges to rise to cover snowballing debts
The South Korean government will consider increasing public utility fees for the following year to offset widening deficits in the electricity, gas and subway sectors. While the government is set to announce its plan on raising utility prices on electricity and gas within this week, Seoul subway fares are also expected to go up after a yearslong freeze. According to the Ministry of Trade, Industry and Energy and the Ministry of Economy and Finance on Monday, the two government bodies are at the
Industry Dec. 26, 2022
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[Feature] Korean streaming services overhaul strategies as growth slows
Faced with faltering subscriber counts and deteriorating profitability, South Korea's over-the-top (OTT) media, or video streaming services, are making seismic changes as they seek strategies to achieve sustainable business growth. Despite the growing popularity of streaming services worldwide, local firms’ profits have worsened due to their heavy investment in content. The three major domestic streaming services -- Tving, Watcha and Wavve -- have logged an accumulated deficit of 157
Industry Dec. 19, 2022
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