Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
[KH Biz Forum] SoftBank-backed Qraft highlights AI's role in stock investing
SoftBank-backed South Korean financial technology startup Qraft Technologies highlighted the role of artificial intelligence in equity asset allocation, as AI plays a complementary role to boost productivity and efficiency of human's tasks. An AI engine can pursue above-average returns with the capability to analyze massive amounts of financial data and discover relationships that humans hardly find, according to Qraft Technologies Chief Product Officer Alan Jo at The Korea Herald Biz Forum
Market Oct. 19, 2022
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Is US export ban forcing Korean chipmakers to exit from China?
The long-term business prospects of South Korean memory chip giants like Samsung Electronics and SK hynix are at their lowest points in China, despite being granted a one-year waiver to temporarily steer clear of chipmaking tool import restrictions to their Chinese fab plants. Experts say the uncertainties will inevitably force Korean chipmakers to relocate their chipmaking facilities, especially the most advanced fabs. "It’s possible that Korean memory chip manufacturers may try to u
Technology Oct. 18, 2022
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Samsung opens remote offices to boost hybrid working
South Korean tech giant Samsung Electronics announced Monday it has opened six shared working spaces to nurture a hybrid work environment and flexible work culture. Two of the six spaces are located outside Samsung offices, in Seoul and Daegu, and the other four in Suwon, Gyeonggi Province; Gumi, North Gyeongsang Province; Gwangju; and Seoul are within Samsung office buildings. These co-working spaces, dubbed "d'light," feature open seats, partitioned desks, adjustable standing desks,
Technology Oct. 17, 2022
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Samsung digital wallet service to arrive at 13 more countries
Samsung Wallet, a digital wallet and digital certificate platform known as Samsung Pay in South Korea, will become available in 13 more countries by the end of this year, tech giant Samsung Electronics announced Friday. The service will be expanded to Bahrain, Denmark, Finland, Kazakhstan, Kuwait, Norway, Oman, Qatar, South Africa, Sweden, Switzerland, Vietnam and the United Arab Emirates. With Samsung Wallet, Galaxy users can organize digital keys, payment cards, boarding passes, as well as ide
Technology Oct. 14, 2022
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LG Energy Solution to complete commitment for 1st Ultium Cells factory
South Korean lithium-ion battery manufacturer LG Energy Solution is set to complete a $916 million capital commitment for a factory in Ohio under Ultium Cells, LG’s joint venture with General Motors, as the factory prepares for mass production in the near future, a filing showed Thursday. LG Energy Solution's US subsidiary will have its committed capital to Ultium Cells fully earmarked by Friday, as LG's payments first began in January 2020, according to the filing with the Finan
Technology Oct. 13, 2022
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SK On to acquire 10% stake in Lake Resources
South Korean lithium-ion battery maker SK On has signed a conditional framework agreement to buy a 10 percent stake in Australian lithium developer Lake Resources in its new rights offering, a filing showed Wednesday. SK On will buy the stake in June 2023 on the condition that the high-purity lithium extraction from brine water in Lake Resources' flagship projects, including Kachi Project in Argentina, yields a "positive result," according to the filing with the Financial Supervisory S
Technology Oct. 12, 2022
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Korean chipmakers given 1-year grace period on US chip export curb on China
South Korean chipmakers will be given a one-year grace period that would allow for their China-based chip plants to continue to import critical chipmaking tools from the United States, without the licensing requirements announced the previous week by the Joe Biden administration. Memory chip maker SK hynix revealed that the US Department of Commerce’s Bureau of Industry and Security has assured SK hynix that the company, its suppliers and business partners are still authorized to engage in
Technology Oct. 12, 2022
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LG Energy Solution, Honda to build $4.4b battery plant in Ohio
South Korean lithium-ion battery maker LG Energy Solution and Japanese automaker Honda have selected Fayette County, Ohio as the location to commit to a combined $4.4 billion to build an electric vehicle battery plant beginning 2023, the companies said Wednesday. The construction was initially estimated to cost $3.5 billion. Once the construction is complete by the end of 2024, the new plant will start to mass produce pouch-type lithium-ion batteries beginning 2025 with the annual production cap
Technology Oct. 12, 2022
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SK Siltron, UK-based IQE to develop semiconductor wafers for 5G, auto chips
South Korean semiconductor wafer maker SK Siltron and Britain-based chip material firm IQE has inked a strategic collaboration agreement to develop next-generation compound semiconductor products targeting the Asian market, SK Siltron said Tuesday. Under the agreement signed Thursday, the two companies will work to develop epitaxial wafers based on gallium nitride using IQE's technology, with wafer substrates made of silicon and silicon carbide supplied by SK Siltron. Gallium nitride can he
Technology Oct. 11, 2022
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Lotte signs W2.7tr deal to acquire Iljin Materials
South Korean business conglomerate Lotte Group has signed a deal to acquire a controlling stake in Iljin Materials, a copper foil supplier to electric vehicle battery makers for 2.7 trillion won ($1.9 billion), in Lotte's move to enhance the EV component portfolio, filings showed Tuesday. Lotte Battery Materials USA, a subsidiary of Lotte's petrochemical arm Lotte Chemical, will buy a 53.3 percent stake, or 24.6 million ordinary shares, in the world's fourth-largest copper foil ma
Technology Oct. 11, 2022
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[From the Scene] SK to build W1.7tr plastic recycling complex by 2025
ULSAN -- SK Innovation, petrochemical arm of South Korea's second-largest business conglomerate, is poised to open a 1.7 trillion-won ($1.19 billion) plastic recycling complex by the second half of 2025, a move to accelerate its transformation to becoming a provider of ecofriendly products for a sustainable future. The 215,000-square-meter space in Korea's heavy industry powerhouse Ulsan will house facilities that would collect 250,000 tons of waste plastic each year and recycle about 80-90 per
Industry Oct. 11, 2022
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[From the scene] Ulsan vows green transition in 60th year
ULSAN -- A green transition of Ulsan Industrial District, home to oil refineries, petrochemical plants, auto manufacturing facilities and shipbuilding sites, is crucial to alleviating the cost of carbon emissions and keeping the products' competitive edge in the global market, an Ulsan high-ranking official told reporters on Thursday. "Ulsan is now focusing on how it can diversify energy sources for the industrial complex," said Noh Dong-wan, director-general of innovative industry bu
Industry Oct. 10, 2022
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Posco, LG sign comprehensive agreement for EV battery material supply
Steel-to-chemical material firm Posco Holdings and lithium-ion battery cell manufacturer LG Energy Solution signed a more comprehensive agreement for electric vehicle battery material supply, the companies announced Monday. Based on the nonbinding agreement signed on Friday, Posco Holding is to ink a long-term deal to supply cathode materials and anode materials to LG Energy Solution before the end of 2022, according to South Korea's largest battery cell maker by batteries supplied to cars.
Technology Oct. 10, 2022
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US chip export curbs won't likely hurt Samsung, SK hynix: lawmaker
Amid a chaotic mood building among Korean chipmakers operating fabrication plants in China over Washington's chip export curbs on Beijing, a South Korean lawmaker said Sunday the companies are unlikely to be hurt, as the US would take some time to see to how the repercussions of its actions play out through the global supply chain. "(US authorities) are unlikely to be harsh in export controls on semiconductor equipment going to Korea-owned facilities, because the extent of (repercussions fr
Technology Oct. 9, 2022
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LG Electronics supplies autonomous robots to malls in Japan
LG Electronics said Sunday it has supplied autonomous robots to two locations of shopping mall chain Aeon in Japan. The multipurpose customer service robots, branded as the LG CLOi GuideBot, have recently begun operating in Aeon malls in Toki, a suburb of Nagoya, and Narita, 60 kilometers east of Tokyo, according to the South Korean tech giant, without specifying dates. The robots feature two 27-inch flat-panel displays with touch-screen functions at the front and the rear side. They can also co
Technology Oct. 9, 2022
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