The talks, which began in October, were a first for the company and the unions. The trade unions’ appeal for a wage hike, COVID-19 compensation and a special leave, however, fell on deaf ears. In the draft agreement suggested in March, Samsung’s in-house independent council confirmed a wage hike of up to 7.5 percent, including a 4.5 percent basic pay raise. The company has 114,000 employees. Th...

South Korean communication technology firm KT said Thursday it would join hands with Russia’s Medsi Group to establish health checkup centers in the country, which has been experiencing a lack of access to medical infrastructure for clinical diagnostics. The two companies look to complete a feasibility review of the medical centers in Moscow and Vladivostok within this year, according to KT. The...

Samsung Electronics will collaborate with US-based software solutions firm Amdocs to deliver fourth- and fifth-generation private wireless network solutions to boost the connectivity of firms in the United States, according to the company Thursday. The partnership will allow the companies to advance wireless communications such as increasing download speed, and to simplify the deployment of 5G-r...

With Samsung Electronics’ Galaxy Unpacked event just a week to go, all eyes are on whether the launch of flagship Galaxy S22 smartphones would be affected by the supply chain bottlenecks. Recent rumors suggested that the smartphones succeeding the S21 lineups -- Galaxy S22, S22 Plus and S22 Ultra -- might be subject to supply side issues, which could delay shipments following the Unpacked event....

LG Electronics saw its home appliance business set a new record in 2021 with revenues jumping 21.7 percent to 27.11 trillion won ($22.92 billion), outstripping the performance of its US rival Whirlpool that showed net sales of $22 billion, its earnings release showed Thursday. The performance of the business -- dedicated to refrigerators, washing machines, air conditioners and hygiene-related pr...

Samsung Electronics saw revenue of 94.16 trillion won ($78.36 billion) in its semiconductor chip business alone for 2021, up 29 percent from the previous year, its earnings call showed Thursday, beating its US chipmaking rival Intel‘s full-year $74.7 billion in revenue, released a day prior. It was an all-time high sales record from the chipmaking operation by the Suwon, Gyeonggi Province-based ...

LG Display turned around to profit in 2021 for the first time in three years, buttressed by strong sales of OLED panels for large TV sets, officials said in a conference call Wednesday. The company logged a 2.23 trillion won ($1.86 billion) operating profit for 2021, turning around from 36.47 billion won losses. The figure was slightly lower than the consensus estimate provided by market intelli...

This is the second installment of a two-part series on Korea‘s Chips Act and controversies surrounding a law meant to support the local chip industry amid heated competition around the world. -- Ed. To tackle a chronic workforce shortage in the domestic chips industry, Korean semiconductor giants Samsung Electronics and SK hynix have been ramping up efforts to acquire talents even before they be...

The Korean government has so far unveiled plans to spend 880 billion won ($737.5 million) this year for financial aid, in the country where tech titans Samsung and SK hynix is poised to spend a combined 55 trillion won in 2022. It is unclear how much government spending would entail for future tax breaks starting next year. Lee of Seoul National University said the law “will allow the experts to...

The escalating geopolitical tension between Russia and Ukraine is drawing attention to whether Washington will pose restrictions on exports to Russia, and the headache that could pose to South Korean electronics giants. The White House National Security Council has informally asked the Semiconductor Industry Association, a chip lobbying group in the United States, to brace for possible actions a...

Samsung Electronics said Thursday that the Korean tech giant and UK’s telecom carrier Vodafone have launched the first fifth-generation open radio access network site in the UK. Supported by Samsung‘s virtualized RAN solutions, Europe’s first scaled commercial open RAN project built on Vodafone‘s architecture enabled the first virtual call on the open RAN infrastructure between Vodafone and UK g...

In the face of the Saudi Arabian government’s pledge to attract foreign companies to relocate their regional headquarters to its capital city of Riyadh, LG Electronics is being pressured to move on par with other multinational companies. According to LG Electronics and news reports, the tech company, dedicated to manufacturing TVs, monitors, laptops and home appliances, is considering establishi...

South Korean telecom carrier KT looks to launch autonomous delivery vehicles in Korea before the end of 2022 by partnering with Russian autonomous rover maker Yandex Self-Driving Group, KT said Tuesday. The two companies have signed a memorandum of understanding at a Yandex office in Moscow, and are at an early stage of cooperation to integrate KT‘s artificial intelligence and digital capability...

Samsung Electronics said Tuesday it has teamed up with California-based chip maker Advanced Micro Devices to unveil its flagship Exynos 2200 processor chips for mobile phones, in a delayed announcement by a week. The partnership with AMD in Samsung’s processor business has boosted energy efficiency and graphic processing performance compared to predecessors like Exynos 2100, the company said. M...