Samsung Electronics Co. regained the No.1 spot in chip sales in the second quarter of the year, surpassing its archrival Intel Corp. for the first time in almost three years, on the back of robust sales of memory semiconductors, a report showed Friday. The South Korean tech giant logged $20.29 billion in chip sales in the April-June period, up 19 percent from a quarter earlier, according to the latest McClean Report released by market researcher IC Insights. Samsung, the world's largest memory

South Korean big companies' investments expanded nearly 5 percent in the first half of the year thanks mainly to a semiconductor boom, a corporate tracker said Friday. Global tech giant Samsung Electronics Co. and 331 other large firms in Asia's fourth-largest economy invested a combined 82.8 trillion won (US$70.3 billion) in the January-June period, up 4.6 percent from a year earlier, according to CEO Score. Compared with the pre-pandemic first half of 2019, the figure was up 12.6 percent. T

Coupang on Thursday has been slapped with fines totaling 3.29 billion won ($2.8 million) for unfair business practices, losing a case which pitted decades-old consumer goods brands against the e-commerce platform operator. The Fair Trade Commission, in announcing the decision, said Coupang has abused its position as a major online marketplace to coerce vendors, including LG Household and Healthcare, to slash the prices of products sold on its platform. Coupang violated several terms of the

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Credit card company Samsung Card will divest all of its 19.9 percent stake in automaker Renault Samsung Motors, in a sale that would pull the plug on its parent Samsung Group’s old, botched auto dream. The company said the decision was made recently and has tapped Samsung Securities, Samsung Group’s financial investment arm, to lead the exit. “Though we are pursuing the stake sale, details such as the method of sale, the buyer and the process have yet to be decided,” t

Unionized land-based workers of South Korea's largest shipper HMM Co. have voiced opposition to a company wage increase proposal, raising the possibility of its first strike, industry sources said Thursday. After talks with its creditors, the company has put forward a wage negotiation proposal, including an 8 percent increase in wages, plus bonuses of 500 percent. According to the sources, some 95 percent of unionized HMM longshore workers voted against the wage proposal. Union members demand

South Korea's antitrust regulator said Thursday it has decided to fine e-commerce giant Coupang Inc. 3.3 billion won ($2.8 million) for alleged unfair business practice. Between 2017 and 2020, Coupang demanded its suppliers raise sales prices of products trading at its rival online malls if one-off sales promotion events drove down such prices, according to the Korea Fair Trade Commission (KFTC). The company also pressed contractors to buy ads on its site and passed on the costs of sales promo

SK Telecom Co., South Korea's largest wireless carrier, said Thursday it will launch its virtual meeting platform ifland in around 80 overseas markets by the end of this year in a move to join the global metaverse rush. The carrier launched the platform last month that allows users to interact with others using personalized avatars in a range of online settings from stadiums to cafes. The metaverse platforms have grown in popularity over the past year, especially from tech-savvy teenagers, as

LG Chem Ltd., South Korea's leading chemical firm, said Thursday it will invest 2.6 trillion won ($2.2 billion) by 2028 to step up its domestic manufacturing capacity for eco-friendly materials. LG Chem said it will build 10 new chemical factories in Seosan, about 140 kilometers southwest of Seoul, to produce biodegradable materials and other materials used in renewable energy. Among them are poly butylene adipate-co-terephthalate (PBAT), a biodegradable plastic used in decomposable packaging,

Major South Korean credit card issuer Samsung Card Co. said Thursday it has decided to sell its entire 19.9 percent stake in Renault Samsung Motors Corp. Samsung Card said it recently made the decision and selected Samsung Securities Co. as the lead manager of the stake sale. The card issuer purchased the stake for 87.6 billion won ($74.8 million) in April 2000 in line with an agreement between Samsung Group and French automaker Renault S.A. on the sale of Samsung's car unit. In a semiannual

Samsung Electronics Co. was the top smartphone vendor in Latin America in the second quarter, a report showed Thursday, although its market share dropped from a year earlier. Samsung represented 37.3 percent of smartphone shipments in Latin America in the April-June period, defending its leading status, according to market tracker Counterpoint Research. However, its second-quarter market share was down from 42.5 percent a year ago. "Samsung was the most affected due to the constraints rel

Samsung Heavy Industries Co. said Thursday that it has won approval in principle (AIP) for its basic design for LNG or diesel-powered oil tankers that can be revamped into ammonia-fueled ones from DNV, a Norwegian ship quality assurance and risk management company. The shipbuilder's basic design will be helpful for shippers that want to transform their LNG or diesel-powered oil tankers into ammonia-fueled ones, Samsung Heavy said. AIP for the VLCCs means a certification agency has reviewed its

LG Electronics Inc. on Thursday said it has successfully demonstrated 6G data transmission using the terahertz spectrum as the South Korean tech giant tries to move ahead in the next-generation communication technology. LG succeeded in sending 6G terahertz wireless communication signals 100 meters in an outdoor environment in collaboration with Fraunhofer-Gesellschaft, Europe's leading application-oriented research organization, in Berlin last week. LG said it developed a new power amplifier w