Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
LG Electronics estimates highest Q2 revenue of W19.9tr
LG Electronics reported Friday it expects its second-quarter revenue to increase 2.7 percent to 19.9 trillion won ($15.2 billion) year-on-year, the highest figure for the April-June period in the company’s history. Its operating profit is expected to jump 12.7 percent on-year to 892.7 billion won, which would be the second highest Q2 record for the firm. Releasing its preliminary earnings results for the April-June period, LG attributed its record earnings to its efforts to improve the fun
Industry July 7, 2023
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LG sets up R&D unit for TV business in Indonesia
LG Electronics said Thursday its home entertainment business division had set up its first research and development unit in Indonesia, completing a comprehensive business operation from product development to manufacturing and sales. The new facility spanning 40,000 square meters is located 3.5 kilometers from LG’s TV production plant in the Cibitung area,and some 40 kilometers from Jakarta where the tech giant operates a sales unit. LG said the new R&D unit will help not just improve
Industry July 6, 2023
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Samsung may face tighter scrutiny under new EU rules
Samsung Electronics may be subject to the European Union’s new platform service regulations targeting big tech companies, as the Korean tech giant notified the European Commission it meets the EU’s criteria as a “gatekeeper.” On Tuesday, the EU revealed the names of seven companies that have reported they meet the criteria set by the Digital Markets Act, which came into force in November last year. The seven companies are Google parent company Alphabet, Amazon, Apple, Tik
Industry July 5, 2023
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[Herald Interview] EU seeks cooperation with South Korea to de-risk from China amid supply chain woes
The European Union is keen on cooperating with South Korea in chips, digital trade and clean technology, the European Commissioner for Internal Market Thierry Breton said Friday, amid mounting geopolitical uncertainties. "It is important that like-minded partners cooperate by coordinating policies, align on issues related to economic security and discuss trade-distorting practices, not only to ensure a level global playing field, but also to guarantee that supply chains are resilient to ext
Industry July 4, 2023
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[Herald Interview] Chip wars: No end in sight
For those who may believe in the ideal of "free trade," it might seem "protectionist" for governments to intervene in international trade and provide subsidies to nurture their own industries. But these days, semiconductor powerhouses such as the US, South Korea, Taiwan and Japan, are all racing to present hefty subsidy programs to boost their own industries based on the fear that the lack of governmental support will decide the fate of their key strategic sectors. The world&
Industry July 3, 2023
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SKT invests $100m in Joby Aviation to ramp up UAM business
South Korean telecom giant SK Telecom announced late Thursday it will invest $100 million to acquire a 2 percent stake in US urban air mobility firm Joby Aviation. The two forged the investment agreement on Tuesday, and vowed to strengthen their partnership in the UAM business further. The Korean mobile carrier first signed a strategic collaboration agreement with Joby Aviation in February 2022, which was expanded to include TMAP, South Korea’s largest mobility platform, in May 2022. Joby
Industry June 30, 2023
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South Korea, Japan hold in-depth talks to strengthen bilateral trade
South Korean Trade Minister Ahn Duk-geun discussed measures to strengthen bilateral trade with his Japanese counterpart Hirohide Hirai during his visit to Seoul on Friday. The bilateral talk comes as Japan has announced to reinstate South Korea as a "Group A" country earlier this week, returning to Seoul the preferential export treatment it had enjoyed until 2019. The latest decision marked the end to a trade dispute that had dragged on for four years stemming from the issue ofKoreans
Industry June 30, 2023
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South Korea, US agree to work closely to address IRA, trade concerns
South Korea and the United States agreed to work closely to resolve concerns over the US' Inflation Reduction Act, discussing ways to strengthen battery supply chains, Thursday. South Korean Deputy Minister Joo Young-joon in charge of industrial policy at the Ministry Trade, Industry and Energy met with Deputy US Trade Representative Sarah Bianchi visiting Seoul. During the bilateral talks, Joo assessed that the two sides overall have smoothly managed the IRA issue, closely communicating vi
Industry June 29, 2023
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LG’s market cap triples under Koo's leadership
LG Group, South Korea’s fourth largest conglomerate, has seen its market capitalization triple and sales jump about 30 percent under the leadership of Koo Kwang-mo, who marks his fifth anniversary as the group's chairman on Thursday. With bold decisions to restructure the business portfolio and concentrate investment in key areas of automotive solutions and energy, and future technologies, Koo appears to be solidifying his leadership after he took office on June 29, 2018, following th
Industry June 28, 2023
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Samsung unveils foundry road map to take on TSMC
Samsung Electronics, the world’s largest memory chipmaker, on Tuesday unveiled a new foundry business road map, saying it will expand the adoption of the 2-nanometer manufacturing technology in phases to mobile applications by 2025, high-performance computing by 2026 and automotive chips by 2027. The bold plan comes as Samsung, a distant No. 2 in terms of foundry sales after Taiwan Semiconductor Manufacturing Co., is investing heavily to boost its burgeoning foundry business and narrow the
Industry June 28, 2023
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Japan restores South Korea to export 'whitelist' after 4 years
Japan is putting South Korea back on its “whitelist” of trusted trading partners, marking the end to a trade dispute that had dragged on for four years, as the two sides have renewed a commitment to improve bilateral economic ties. Japan’s Ministry of Economy, Trade and Industry announced Tuesday it has decided to redesignate Korea as a "Group A" country, returning to Seoul the preferential export treatment it had enjoyed until 2019. “The Republic of Korea will
Industry June 27, 2023
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Korean firms fight talent exodus as chip tech war intensifies
A former Samsung employee was banned from moving to US rival Micron Technology after the Korean tech giant took the issue to court amid growing concerns over illicit tech transfer. Seoul Central District Court on Sunday accepted Samsung Electronics’ petition for an injunction to ban a key employee from moving to US chip rival Micron Technology just three months after quitting the Korean chipmaker. "DRAM technology is designated as national strategic technology and protection of the te
Industry June 26, 2023
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Korean companies eye new business opportunities in Vietnam
Accompanying South Korean President Yoon Suk Yeol on his state visit to Vietnam as part of the presidential delegation, South Korean companies were seen ramping up their business ties in the Southeast Asian country. In a banquet inviting his largest economic delegation on Thursday, Yoon urged the business leaders to take the lead to explore new business opportunities with Vietnam, which is South Korea's third-largest trading partner. "New opportunities are being created for South Korea
Industry June 23, 2023
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Apple R&D accelerator discuss smart manufacturing with Korean SMEs
Apple's first manufacturing research and development accelerator discussed the impacts of artificial intelligence and machine learning in smart manufacturing with small and medium-sized businesses in South Korea, the iPhone maker said Friday. Apple Manufacturing R&D Accelerator held its first Smart Manufacturing Forum in Pohang, North Gyeongsang Province, for two days from Wednesday, inviting hundreds of guests from SMEs, industry experts and academia to exchange insights on smart manuf
Industry June 23, 2023
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SK hynix introduces data center memory solutions at HPE conference
SK hynix, the world’s third-largest memory chipmaker, said Friday it introduced its next-generation memory technologies and products at an IT conference in the US. The Korean tech giant said it joined the HPE Discover 2023 event held by Hewlett Packard as an exhibitor, showcasing its industry-leading memory solutions for data centers. The annual conference was held in Las Vegas for three days starting Tuesday. SK said it showcased PS1010 E3.S, a high-performance Peripheral Component Inte
Technology June 23, 2023
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