Samsung Electronics said Friday it was cutting its chip production to a “meaningful level” after reporting a worse-than-expected 96 percent plunge in its quarterly operating profit estimate amid the global chip downturn. “We’re adjusting to a lower memory production at a meaningful level centering on products that have secured enough inventory to respond to future demand, in addition to optimizing line operations that are already underway,” the company said in a sta

Technology April 7, 2023

Upon arrival in Korea last week, an on-site inspection delegation from the Bureau International des Expositions (BIE), the regulating body of World Expos, paid a visit to Gwanghwamun, central Seoul, to look around a slew of exhibition booths set up by the nation’s top conglomerates. LG Group operated a huge booth, titled "Better Future for All with LG," where diverse technological innovations were showcased to impress the BIE delegation and express Korea’s strong will to ho

Industry April 6, 2023

The Ho-Am Foundation on Wednesday announced the winners of its annual Samsung Ho-Am Prize award for this year in the fields of science, engineering, medicine, arts and community service. This year’s prizes went to Ihm Ji-soon, a distinguished professor at Pohang University of Science and Technology, for physics and mathematics; Choi Kyoung-shin, a professor at University of Wisconsin-Madison, for chemistry and life sciences; Sun Yang-kook, chair professor at Hanyang University, in engineer

Industry April 5, 2023

A South Korean civic group that has advocated for net neutrality for years has recently found itself at the center of controversy, as it is suspected of getting funds from global tech giants like Netflix and Google, according to industry sources on Monday. In February, the non-profit organization, called Open Net, released the results of a survey asking people their opinions about a pending bill that aims to impose fees for network use on streaming service companies -- a thorny issue in the glob

Industry April 3, 2023

The CEO behind the company that created the humanlike chatbot ChatGPT is planning to visit Korea as part of his world tour to meet with users, developers and people interested in artificial intelligence. Sam Altman, co-founder and CEO of California-based startup OpenAI, announced via Twitter Thursday that he has planned to visit 17 major cities around the world in May and June. Altman’s planned stops include Seoul, Toronto, Washington, Rio de Janeiro, Lagos, Madrid, Brussels, Munich, Londo

Industry April 3, 2023

South Korea’s telecommunications giant KT Corp. is in turmoil after a series of CEO candidates stepped down, apparently under pressure from the presidential office and the ruling party. More than two decades after its privatization, the government's political clout still seems to permeate the company, and investors are outraged by a recent plunge in share prices. “If this situation happens overseas, it would be called a scandal,” said Park Sang-in, a professor at Seoul Nat

Industry March 30, 2023

Park Sung-hyun, co-founder and CEO of South Korean chip designer Rebellions, compared the latest buzz over artificial intelligence-powered chatbot ChatGPT to that of the first iPhone decades ago. “This is a kind of industrial revolution. There may be no drastic change immediately, but we don’t know how far AI will go in replacing humans in the future,” Park told The Korea Herald in a recent interview, adding that it was the iPhone 3 that started bringing drastic changes across

Technology March 27, 2023

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 CEO to be elected through the firm’s government improvements, which excee

Industry March 27, 2023

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 to run at the Diaoyutai State Guesthouse until Monday. Attending by invitation, he is expected to be j

Technology March 24, 2023

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 official events as in other years. There was no special message delivered to employ

Technology March 22, 2023

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.

Technology March 21, 2023

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 and SK Innovation, have nominated final candidates for outside directors. Of the 12 new c

Industry March 21, 2023

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 company has a strong appetite to acquire Rainbow Robotics and related talks are on the way “l

Technology March 21, 2023

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 service, some 13,000 users had added the service to their mobile messenger, KakaoTalk. The exact date for

Technology March 20, 2023

Samsung Electronics said Monday it has opened a branch campus for its startup support program in Gwangju to incubate promising small businesses to spur innovation and build a business ecosystem without relocating themselves to bustling Seoul and metropolitan areas. Located in Samsung Fire & Marine Insurance’s office in the Sangmu region, C-Lab Outside Gwangju will be run to nurture innovative startups, revitalize the local economy and boost high-quality jobs in the rural area. The new ca

Industry March 20, 2023