Yeo Min-soo and Joh Su-yong, who stepped down from top seats of mobile internet giant Kakao Corp. earlier this year, were highest paid executives in South Korea in the first half of this year, filings showed Wednesday. Joh was disclosed to have been compensated 36.15 billion won ($27.59 million), while Yeo was paid 33.22 billion won, by the company dedicated to mobile messengers, gaming and ente...

Samsung is envisioning a change in governance structure as a presidential pardon has virtually normalized de facto leader Lee Jae-yong’s control over the nation’s largest conglomerate. Lee Chan-hee, chief of Samsung’s independent compliance oversight committee, told the press before the committee’s regular meeting Tuesday that it is “working to address the corporate governance issue” of Samsung,...

The cutting-edge monitor, first unveiled at the Consumer Electronics Show 2022 in January, will be launched worldwide in September, with preorders being accepted in the United Kingdom on Monday. In Korea, sales of Odyssey Ark will begin on Sept. 7 at the retail price of 3.4 million won ($2,600), with preorders available beginning on Aug. 24. Odyssey Ark is the latest addition of Samsung‘s signa...

President Yoon Suk-yeol’s decision to grant a special pardon on Samsung heir Lee Jae-yong on Friday is expected to speed up his return to leadership of Korea’s largest family-controlled chaebol and the world’s largest memory chipmaker. Set to be granted on Aug. 15 Liberation Day, the clemency will lift the employment restriction placed on him that was effective until 2027. This would open the do...

Samsung Electronics mobile head, Roh Tae-moon, said the South Korean tech giant looks to target wider audiences with its Galaxy foldable phones in a bid to address the sluggish growth of its premium smartphones and macroeconomic headwinds, in a press conference held Wednesday, in New York. As the clamshell-type Galaxy Z Flip and book-type Galaxy Z Fold evolve, the combined shipments of two model...

The specifications of both phones indicate that neither fold completely flat without a gap, unlike its Chinese rival Oppo‘s Find N unveiled last year. The new features mean a slightly more expensive price tag for Samsung‘s latest smartphones. The Galaxy Z Flip 4 retail price will start at 1.35 million won ($1,030), up by roughly 100,000 won from its predecessors. The price of Galaxy Z Fold 4 wi...

The heavier burden of corporate taxes and cost per hire are weighing on South Korean chipmaking giants like Samsung Electronics, indicating the unfavorable conditions leave them behind competitors like Taiwan-based TSMC amid intensifying semiconductor competition worldwide, according to a local think tank Wednesday. Korea sets the maximum rate of the corporate tax at 25 percent -- imposed on tax...

South Korea’s trade deficit with China is likely to persist for the time being, unless Korea strives to achieve supply chain independence from China, according to a report by lobby group Korea Chamber of Commerce and Industry on Tuesday. The growing reliance on China over key materials used for Korean semiconductor or battery manufacturing signals Seoul‘s need to upgrade its free trade agreement...

South Korean lithium-ion battery cell makers are expected to be beneficiaries once the Inflation Reduction Act comes into force in the United States, as the bill is likely to induce US electric vehicle makers to cut their reliance on Chinese battery components. But at the same time, Korean battery makers are now pressured to preemptively diversify their import sources of key materials out of Chi...

Hanwha Group Chairman Kim Seung-youn’s wife, Suh Yung-min, died at 61 at a hospital in the United States on Sunday, as she was suffering from cancer, the group said Tuesday. Suh is survived by Kim, who leads South Korea‘s seventh-largest conglomerate dedicated to chemicals, renewable energy and finance, and their three sons, Dong-kwan, Dong-won and Dong-sun. Suh, who studied pharmaceuticals at ...

South Korea is poised to join a working-level meeting of government officials involving major chipmaking nations along with the United States, Taiwan and Japan, amid mounting concerns over China’s retaliation. Seoul has had to tread carefully around Beijing, as memory chip giants such as Samsung Electronics and SK hynix fear that its chipmaking base in China might be affected by Seoul‘s decision...

This comes after high-ranking officials of the Industry Ministry and Yeoju Mayor Lee held talks Tuesday aimed at resolving the water conflict. Lee proposed removing red tape for development plans involving a new industrial complex and houses nearby. Stretching across Yeoju is Namhan River, one of the two branches of freshwater that forms the Han River in Seoul. The river has been considered a ma...

South Korean telecommunications firm KT and its Turkish counterpart Turk Telekom have signed a strategic partnership to foster collaboration in the field of media content to private fifth-generation network setup and joint investment in startups, KT announced Sunday. This is a follow-up to the nonbinding memorandum of understanding for cooperation between the two companies at the Mobile World Co...

Memory chip giant Samsung Electronics said Wednesday it unveiled a set of next-generation memory and storage technologies to better address various client demands for handling big data. Choi Jin-hyeok, executive vice president of memory solution and product development at Samsung Electronics, told an audience at the Flash Memory Summit 2022 that the array of technologies, including “perabyte sto...

SK hynix said Tuesday that it had unveiled plans to mass-produce the industry‘s first 238-layer four-dimensional NAND flash memory in the first half of 2023. At the Flash Memory Summit of 2022 held in Santa Clara, California, Choi Jung-dal, head of NAND development at SK hynix, said the newest NAND flash, which boasts the highest layer count and highest triple-level cell density in the industry,...