Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
Korea Inc. heads to Vietnam to strike deals
With South Korean President Yoon Suk Yeol taking his largest economic delegation involving top conglomerate chiefs on a state visit to Vietnam on Thursday, anticipation is growing on new joint business opportunities their trip will create for the two countries. For the three-day state visit, Yoon has formed his largest-ever delegation to accompany him, consisting of 205 entities -- 24 conglomerates, 28 mid- and small-sized companies, six economic lobbying groups, six economic associations and th
Industry June 22, 2023
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Big 4 chaebol chiefs back Busan’s Expo bid in Paris
South Korea’s top conglomerate chiefs were to meet with French President Emmanuel Macron in Paris on Wednesday, as they are in Paris to promote Busan's bid to host the 2030 World Expo. According to industry sources on Wednesday, the four chiefs of Korea’s top conglomerates -- Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo -- arrived in Paris Monday to kick off their Paris tri
Industry June 21, 2023
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LG researcher reappointed to lead Next G Alliance for 6G tech
LG Electronics said Tuesday that one of its senior researchers has been reappointed to lead a working group in an American mobile technology alliance for 6G technology development. Lee Ki-dong, senior researcher in LG Electronics' Chief Technology Officer division, has been reappointed as the chairperson of the Applications Working Group in the Next G Alliance until May 2025. He was first appointed to the position in 2021. The Next G Alliance is an industry initiative launched by the US-b
Industry June 20, 2023
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KT, Samsung Medical Center join hands to export medical tech
South Korean telecommunications giant KT and Samsung Seoul Medical Center are teaming up to export Korea's medical services and digital technology for hospitals, KT said Saturday. The two sides signed an agreement on Friday, under which they will work together to come up with a monitoring system that uses digital health care devices to check up on patients, and to conduct joint research on ways to use artificial intelligence in hospitals using big data. KT is currently preparing to open a m
Industry June 18, 2023
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Pixar movies to run on Samsung’s Onyx Cinema LED screens
Samsung Electronics has joined hands with Pixar Animation Studios to run animated movies on its Onyx Cinema LED screens, offering significantly enhanced picture quality, the company said Sunday. Under their partnership, Pixar made its latest movie, “Elemental,” available for 4K HDR resolution. HDR produces a brighter, clearer image when compared to the conventional SDR resolution. Samsung’s Onyx Cinema LED screen is the world’s first LED cinema screen. The extraordinary d
Technology June 18, 2023
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Top chaebol groups search for breakthrough strategies
Major conglomerates are holding management meetings to review their performance in the first half of the year and to discuss strategies to avoid crisis in the remaining half of 2023. SK Group, South Korea's second largest conglomerate group by revenue, held the 2023 Extended Management Meeting on Thursday, gathering top executives of its affiliates to discuss the group's action plans for the second half of the year, and to share their long-term visions. SK Chairman Chey Tae-won attende
Industry June 15, 2023
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US likely to extend exemptions for Korean chip production in China
South Korean chipmakers would be able to continue operating and upgrading their chip manufacturing plants in China, as the US is reportedly considering to extend the exemption on export controls against China. US Undersecretary of Commerce for Industry and Security Alan Estevez told an audience at an industry gathering last week that the government aims to extend exemptions for South Korean and Taiwanese chip suppliers with their facilities in China, according to a report by the Wall Street Jour
Industry June 14, 2023
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More flexible workweeks at Samsung, large firms
Samsung Electronics said Tuesday it is introducing more flexible working hours by allowing employees to take one Friday off per month. Keen attention is being paid to the brand new working hour scheme launched by the nation’s largest company by sales, renewing discussions about the idea of a four-day workweek, two decades after a five-day workweek was introduced back in 2002. Samsung’s new policy will be applied to all employees who fulfill the required work hours of 160 to 168 hours
Industry June 13, 2023
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Ex-Samsung exec arrested for leaking chip tech to China
A former executive of Samsung Electronics has been taken into custody for leaking the tech giant’s confidential business information to build a copycat semiconductor manufacturing plant in China, a local prosecutor’s office said Monday. In a press conference, the Suwon District Prosecutors’ Office revealed it has arrested the 65-year-old former executive of Samsung for violating the Prevention of Divulgence and Protection of Industrial Technology Act and the Unfair Competition
Industry June 12, 2023
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Hahn & Co. to acquire medical device maker Lutronic
South Korea’s largest private equity firm, Hahn & Company, announced Friday it has signed a definitive agreement with Lutronics jointly to launch a tender offer for all remaining shares of the Korean medical device maker, worth 957 billion won ($735.9 million). Lutronic, established in 1997, has been expanding its global presence supplying aesthetic medical devices in overseas markets, according to Hahn & Co. In 2022, Lutronic reported sales of over 264 billion won in 2022, with 40
Industry June 9, 2023
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South Korea joins world's 1st digital trade pact to boost exchange
South Korea has become the fourth country to join the world’s first multilateral digital trade agreement, the Digital Economic Partnership Agreement, to boost its digital content and service exchange, the Trade Ministry said Friday. Trade Minister Ahn Duk-geun met with his counterparts from the three DEPA member states -- Singapore, New Zealand and Chile -- on the sidelines of their Organization for Economic Cooperation and Development ministerial council meeting in Paris, to finalize the
Industry June 9, 2023
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SK hynix begins mass production of industry's highest-layer-count NAND chips
SK hynix, the world’s second-largest memory chip maker, said Thursday it has begun mass production of its 238-layer 4D NAND Flash memory, boasting the industry's highest layer count and widening the technological gap with its rivals. The chipmaker said it has also begun product compatibility tests with a global smartphone manufacturer. When completed, it will begin supplying the 238-layer NAND product for smartphones, and expand usage across its product portfolio, such as Peripheral C
Industry June 8, 2023
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Samsung picks Seoul to unveil new foldable phones for 1st time
Samsung Electronics, the world’s No. 1 smartphone maker by shipment, said Wednesday it will unveil its new foldable smartphone series in Seoul for the first time, in the “beating heart” of the company’s dynamic growth worldwide. The upcoming Galaxy Unpacked event will be held at Coex convention center in Samseong-dong, Gangnam, on July 26. Samsung has advanced the launch schedule from the usual August to July, a move which would likely affect the company’s third-qua
Industry June 7, 2023
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Samsung’s Exynos processor to power Hyundai’s in-car infotainment systems
Samsung Electronics said Wednesday that its latest automotive processor, the Exynos Auto V920, will be supplied to Hyundai Motor’s next-generation in-vehicle infotainment systems, a first chip collaboration between the nation’s top two companies. “We are thrilled to be collaborating with Hyundai Motor, a prominent global mobility manufacturer, and we anticipate that this partnership will further solidify our position in the automotive infotainment space,” said Jae Geol Py
Industry June 7, 2023
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Samsung’s iconic Frankfurt declaration marks 30th anniversary
Samsung Electronics, the world’s leading smartphone and chip maker, on Wednesday marks the 30th anniversary of the late former chairman’s iconic New Management Initiative, which is widely considered to have led the then consumer appliance firm towards becoming a global tech powerhouse. Three decades ago, Samsung late former Chairman Lee Kun-hee convened an executive meeting in Frankfurt, Germany for three days, during which he urged a drastic change in management. "If you are to
Industry June 6, 2023
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