The Korea-based startup drew immediate attention from the nation’s fabless industry when it released its first chip for AI-based stock trading, called ION, in November 2021. The chip is now widely adopted by several Wall Street investment firms, including Soft Bank-backed Qraft Technologies. Another breakthrough came last month as it launched another AI chip for data centers, named ATOM, to comp...

South Korea's telecom giant, KT Corp., said Monday that its CEO nominee has decided to resign, four days ahead of the company’s shareholders’ meeting that was set to take a vote on the new chief. KT's group transformation division head, Yun Kyung-lim, indicated his intention to give up the company leadership to the board of directors. The decision came as he believed it would be best for a new C...

Samsung Electronics Executive Chairman Lee Jae-yong on Thursday arrived in Beijing to attend a high-profile corporate summit this weekend, according to industry sources Friday. It is the first time in three years for the de facto leader of Samsung Group to visit China, where the tech giant operates major production facilities. Lee is scheduled to attend the three-day China Development Forum set...

South Korea's largest conglomerate, Samsung Group, on Wednesday marked the 85th anniversary of its founding in a low-key manner. It is the first year that the big day has been celebrated following de facto leader Lee Jae-yong’s promotion to executive chairman of Samsung Electronics. Industry sources and Samsung officials said the group commemorated this year’s anniversary without organizing any ...

Samsung Electronics on Tuesday unveiled this year’s new Bespoke home appliances lineup at a press event in Seoul. Twenty-seven new products are expected to be launched in the first half of the year, coming equipped with artificial intelligence-based energy-saving features.

South Korea’s SK Group is bolstering the expertise and inclusivity of board directors across its affiliates by adding more females and current and former top executives to the boardroom as part of its ongoing efforts to enhance more responsible management. Ahead of their shareholders’ meetings later this month, the group said Tuesday its 12 key affiliates, including SK Inc., SK hynix, SK Telecom...

Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said Tuesday that the tech giant was in talks to secure a greater stake in Rainbow Robotics, a local humanoid robotics company, in an apparent move to ramp up its presence in the burgeoning robotics market. At a press event held to introduce Samsung’s new Bespoke home appliances lineup in Seoul earlier in the day, Han noted that the compa...

Kakao Brain, an artificial intelligence technology research and development subsidiary of Kakao, said Monday it has temporarily suspended its generative AI-based chatbot service, within a day after its open beta release, due to technical glitches. At around 4 p.m. on Monday, Ddmm was unexpectedly closed after too many users flocked to try out the service. By the time Kakao had suspended the serv...

With the South Korean government’s goal to develop Gwangju into a global artificial intelligence-centered city, Samsung has chosen five local startups centering on related business for the first year of its new campus program. Other non-AI related firms were evaluated highly based on their technologies related to health care and materials and parts, Samsung officials said. “We believe that new i...

South Korea's leading semiconductor makers, Samsung Electronics and SK hynix, are likely to post deficits of billions of won in the first quarter of this year amid weakening memory chip prices and higher inventories. Posing great challenges for the firms are accumulated substantial amounts of inventory and slowing consumer spending. According to Samsung’s regulatory filing to DART, the Financia...

The luncheon event kicked off with the Tokyo Korean Junior and Senior High School choir singing South Korea's national anthem. Thursday's meeting was attended by 77 compatriots.

“With the lifting of export restrictions, when exporting three items from Japan to South Korea from now on, the required documents will be streamlined and the approval period will be shortened, thereby significantly alleviating the procedural burden and eliminating uncertainty for companies,” Industry Minister Lee Chang-yang said. “It will serve as a cornerstone for cooperation to stabilize the ...

SK Inc., the investment arm of SK Group, said Thursday it will divest all of its 2.98 percent stake in Turo, the San Francisco-based car-sharing company, as it is looking to cement its leadership in the fast-growing mobility market in Southeast Asia. SK will sell its stake in Turo to Swiss-based venture capital firm G Squared, an existing shareholder, for $67.5 million. The transaction is expect...

LG Innotek CEO Jeong Cheol-dong received the Gold Tower Order of Industrial Service Merit, the highest honor in the field awarded by the South Korean government, at the annual Trade Day ceremony Wednesday for his notable contribution to the national economy. Jeong was honored for his part in strengthening the competitiveness of the national industry by securing proprietary technologies in materi...

Since Lee Jae-yong was crowned Samsung Electronics’ new executive chairman in October last year, the de facto leader has visited the group’s manufacturing facilities across regions, starting with Gwangju, to inspect production sites and emphasize “win-win cooperation” and revitalization of the local economy. He urged executives and staff members to create a “virtuous cycle of coexistence” by crea...