Samsung Display has joined the Ferrari Finali Mondiali, the iconic closing event of the Ferrari Challenge Trofeo Pirelli to showcase its high-quality organic light-emitting diode panels including the foldable models, the company said Friday. During the event held Oct. 17-20 in Enzo and Dino Ferrari International Circuit in Imola, Italy, Samsung is displaying its latest OLED products in a 120-square-meter showroom designed to resemble a modern museum. Among the products are a 34-inch display with

Top smartphone maker seeks to diversify foldable lineup to outpace Chinese runner-ups

Hanwha Investment & Securities, under the wings of South Korea's defense-to-energy conglomerate Hanwha Group, announced Thursday, that it has completed the acquisition of Indonesia’s Ciptadana Securities. Completion of the deal comes over a year after the brokerage house signed an underwriting agreement to acquire an 80 percent stake in Ciptadana Securities for around 49 billion won ($35.7 million) in June 2023. It won final approval from the Indonesian financial authorities last

Shares of Doosan Enerbility, DL E&C surge on possible SMR deals

LG Uplus CEO Hwang Hyeon-sik on Wednesday stressed service quality as the top priority in the telecom carrier’s ongoing efforts for artificial intelligence-based corporate transformation or AX. “The most fundamental aspect of growing into an AX company should be service quality,” the CEO said during a town hall meeting with employees on Wednesday. “No matter how innovative AI technology may be, it cannot create true customer satisfaction if not backed by quality.” &

Shinhan Financial Group announced Thursday it has signed a memorandum of understanding with China's Bank of Communications to enable its SOL Travel Card users to make payments using QR codes in China. The Bank of Communications, one of China’s five state-owned commercial banks, ranked ninth in The Banker’s 2023 Top 1000 World Banks. Its Seoul branch serves as the only designated renminbi clearing bank in Korea, managing settlements in yuan on behalf of other institutions. As par

Hyundai Card announced Thursday that it has secured a global deal to sell its self-developed artificial intelligence software. The Korean card issuer signed an agreement to sell its AI software, known as Universe, to Japan's Sumitomo Mitsui Card Co., marking the first AI software export deal by a Korean financial company. While the exact financial details were not disclosed, Hyundai Card stated the deal is valued at several tens of billions of won. Universe is a hyperpersonalized platform b

The CEOs of major foreign insurance firms in Korea have been reappointed as they navigate challenges posed by a slowing market and local competition. Lina Life Insurance, the Korean unit of American insurance group Chubb, recently nominated current CEO and President Cho Jee-eun as the sole candidate for reappointment. Barring any unexpected issues, she is expected to secure her next term at the extraordinary shareholders meeting on Oct. 29. Fubon Hyundai Life’s Lee Jae-won and MetLife Kore

Shares of Korean chipmakers fell on Wednesday in a bearish market as major chip-related stocks worldwide declined following a gloomy 2025 forecast from semiconductor bellwether ASML. ASML, a Dutch company that makes the world’s most advanced chip-making equipment, reported its booking was half the orders the market expected in its quarterly earnings, and saw its shares plunge 16 percent to close at 668.10 euros ($727) in Amsterdam. Other chip stocks also declined, with Nvidia falling 4.5 p

South Korean IT solutions provider LG CNS has emerged as a major initial public offering contender for next year as it began the listing process on the country’s main bourse Kospi earlier this month. Market watchers estimate the firm’s corporate value to reach around 7 trillion won ($5.14 billion), making it Korea's largest IPO since LG Energy Solution in January 2022. For a successful market debut, it will be crucial for the company to add more corporate clients and improve pro

South Korean steel giant Posco Group announced Wednesday that Chairman Chang In-hwa has joined the executive committee of the World Steel Association. The World Steel Association, consisting of 155 members ranging from global steelmakers to research institutes, aims to enhance profitability in the steel industry. Over the next three years, Chang will work on key issues such as low-carbon technology, the environment and safety. At the WSA executive committee meeting Sunday, leaders of the global

Revision pending to offer heftier tax breaks for semiconductor industry

London-based activist investor Palliser Capital is on its way to challenge South Korean chip-to-energy conglomerate SK Group, having secured a stake of over 1 percent in its investment arm SK Square. Having built a stake in SK Square over the past two years, the British activist fund is pushing for changes in the company to improve its market valuation, according to a report from the Wall Street Journal. Though SK Square is the holding company of the group’s key chip-making affiliate SK hy

South Korea's state-run oil developer said Tuesday it has picked an adviser for the exploration of potential oil and gas reserves off the nation's East Sea. The Korea National Oil Corp has named S&P Global as the adviser for a project in the East Sea that could potentially uncover between 3.5 billion and 14 billion barrels of gas and oil. If confirmed, the quantity would be sufficient to meet the country's gas demand for up to 29 years and its oil demand for four years. The KN

South Korean display maker Samsung Display showcased its latest organic light-emitting diode panels for monitors and laptops optimized for artificial intelligence applications at the Samsung OLED IT Summit in Taipei, Taiwan, Tuesday. To address growing demand for OLED panels in the IT device market, Samsung Display reorganized its original Samsung OLED Forum as the Samsung OLED IT Summit to emphasize its focus on OLED panels for IT devices, the company said. Some 300 officials from 20 companies,