Samsung Electronics Co. said Tuesday it has launched a new memory chip suited to high-performance computing (HPC) systems and artificial intelligence-powered data analytics. Samsung said the Flashbolt is the industry‘s first third-generation High Bandwidth Memory (HBM) 2E memory chip and will deliver twice the capacity of its previous-generation Aquabolt. “The new 16-gigabyte HBM2E is uniquely suited to maximize high-performance computing systems and help system manufacturers to

Korean game giant is first in industry to openly announce wage hike rate

As the power struggle between two siblings of Hanjin Group’s controlling family continues ahead of the upcoming shareholders meeting, their mother and sister, who are major stakeholders, said they backed the brother of the two. In a statement Tuesday, Lee Myung-hee, the mother of the siblings and their youngest sister Hyun-min expressed support for Hanjin Group Chairman Cho Won-tae over his sister Cho Hyun-ah, the former vice president of the airline. “Lee Myung-hee and Cho Hyun-m

Customers visit Food Dream, a food store launched by convenience store chain 7-Eleven in July 2019.  Compared with conventional stores, Food Dream has recorded double the sales in the food category since its launch, 7-Eleven said Tuesday. (khnews@heraldcorp.com)

Household debt in South Korea equaled 95.1 percent of the country’s gross domestic product as of the third quarter last year, up 3.9 percentage points from a year earlier, data from the Institute of International Finance showed earlier this week. The debt-to-GDP ratio was growing at the second fastest pace among the surveyed 33 countries and eurozone, the data also showed. Corporate debt totaled 101.6 percent of the GDP, rising by 6.3 percentage points from the previous year. It was the

Samsung set to release four new devices at Galaxy Unpacked next week

Prolonged coronavirus outbreak hampers production capacity of Korean firms

Tata Daewoo Commercial Vehicle Company Ltd., the South Korean unit of Indian carmaker Tata Motors Ltd., said Tuesday it will strengthen its truck lineup to revive sales in Korea. Tata Daewoo will launch at least three light truck models weighing 2.5 tons to 3.5 tons per vehicle to achieve a market share of 30 percent in the domestic light truck market in the next five years, Tata Daewoo President and Chief Executive Kim Bang-shin said in a press conference. "We are planning to launch o

South Korean movie theaters saw their total monthly admissions for January drop to an eight-year low, data showed Tuesday, amid fears of the rapid spread of the new coronavirus. According to data compiled by the Korean Film Council, a total of 16.8 million people went to theaters over the one-month period. It is the lowest January score since 2012, when the local box office posted 16.6 million in admissions in the month. The decrease came as people have refrained from going to cinemas in the

Multinational pharma firms in South Korea are scaling up the telecommuting options for their employees -- work from home or remote places -- to prevent the spread of the new coronavirus, industry sources said Tuesday. Pharma employees, by the nature of their work, often visit hospitals where they can be exposed to various pathogens. The Korean offices of MSD, Pfizer, Amgen, Novartis, Astrazeneca, BMS, Sanofi-aventis, AbbVie and UCB as of Tuesday have decided to allow their employees to teleco

Google Inc. could greatly improve weather predictions by using machine learning, a type of artificial intelligence technology, a scientist from the company claimed Tuesday. Accurately predicting weather can be particularly challenging for localized events that evolve on hourly timescales, such as thunderstorms. Google, however, said it is currently conducting research into the development of a machine learning model that addresses this challenge by making predictions that are applied to the

South Korea's tourism industry is expected to take the hardest hit among local businesses here from the outbreak of a new coronavirus as more citizens cancel their overseas trips out of infection concerns, industry data showed Tuesday. According to the country's largest travel agency HanaTour, a total of 187,000 reservations for overseas trips were made in January, down 49.7 percent from a year earlier. Cancellations for trip programs to China increased by a whopping 62.2 percent compared wi

South Korea said Tuesday it will exempt local producers of masks and sanitary products from the 52-hour workweek restriction, as such companies are experiencing an unexpected surge in their workloads amid the fast-spreading new coronavirus. In July 2018, South Korea launched a reduction of the maximum number of weekly working hours to 52, from the previous 68 hours, as part of efforts to help people spend more leisure time with family and friends. Under the system, companies can still request

CJ Logistics, a major South Korean logistics firm, said Tuesday it had launched CJ Logistics America -- a joint operating company of its subsidiaries in the United States and Canada -- and DSC Logistics, to expand the company’s presence in North America. Under the new corporate body, CJ Logistics will operate warehouses of a combined 280,000 square meters in size in the US and Canada, to extend its operating network across North America, the company said. CJ Logistics USA, a subsidiar

SK Innovation, an energy solution affiliate of SK Group, said Tuesday it has joined the Responsible Minerals Initiative to facilitate ethical sourcing of minerals for its battery production. RMI is a global association established in 2008 that monitors the ethical sourcing of minerals mined in conflict regions including cobalt, a key ingredient for lithium-ion batteries, which are parts for mobile devices and electric vehicles. Other members include Samsung Electronics, Apple and Tesla. T