Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said its home appliance division, backed by enhanced connectivity with mobile devices, will enjoy its heyday in the second half of this year, showing confidence in the competition with its powerful rival Apple. “We may not yet be the No. 1 player in the home appliance sector. But if we can offer more enhanced connectivity, based on our leadership in TVs and smartphones, consumers will respond positively,” Han said at a press c

LG Electronics unveiled the ambitious target of 1 trillion won ($722 million) in sales solely from built-in appliances by 2027 at this year’s Milan Design Week, one of the largest international design and furniture exhibitions. “Within three years, we will be able to make our built-in (appliance) business worth trillions and turn it into another growth engine,” Lyu Jae-cheol, head of LG Electronics' home appliance and air solutions division, told a group of local reporters

South Korea’s total market cap increased by nearly 100 trillion won ($72 billion) during the first quarter of this year, backed by jumps in stock prices in key industries, including semiconductors, data showed Tuesday. According to a report from local corporate tracker Korea CXO Institute, the combined market cap of 2,692 local firms jumped 96 trillion won during the January-March period to reach 2,599 trillion won. The figures exclude the value of preferred shares. The number of stocks wi

The US government announced Monday that it will award up to $6.4 billion to Samsung Electronics for its chip fabrication facilities in Taylor, Texas. "The return of leading-edge chip manufacturing to America is a major new chapter in our semiconductor industry," said White House National Economic Adviser Lael Brainard in a press briefing. US Secretary of Commerce Gina Raimondo also revealed that the subsidy plan, coming under the US Chips Act, will support Samsung's two chip produ

Samsung Electronics and LG Electronics, the leading home appliance giants in Korea, are participating in this year’s Milan Design Week this week to showcase their new built-in appliances incorporating artificial intelligence and connectivity. Milan Design Week is one of the largest international design and furniture exhibitions, held in the city in northern Italy with the participation of some 2,300 companies. This year the event runs from Tuesday to Sunday. The tech giants have also set u

LG Uplus CEO Hwang Hyeon-sik traveled to Silicon Valley and hosted a special event to lure young talents in the field of artificial intelligence, the telecom carrier said Monday. Hwang hosted the “2024 LG Uplus AI Visionaries Summit" at the Four Seasons Hotel Silicon Valley in San Francisco on Saturday. Invited were some 10 doctoral candidates and master's students in key AI fields such as natural language processing, large language model and vision from major US universities, in

Korean IT giant Kakao joined AI Alliance, the global open-source community dedicated to the responsible development of artificial intelligence, becoming the first Korean firm to do so, the company said Friday. “We will work together with the AI Alliance to establish an open AI ecosystem meeting the global standard for the open, responsible and safe development of AI technology,” Kakao AI Safety Leader Kim Kyung-hoon said. “We will take on the social responsibility as a digital

With the advances in artificial intelligence, there is a growing demand for cutting-edge memory chips. As the technology environment has evolved, SK hynix vice president expressed his ambition to contribute to the development of the highest-performance memory products through advanced packaging technologies. “Package and test (P&T) technology is turning into a crucial factor in the battle for semiconductor leadership,” Choi Woo-jin, vice president in charge of SK hynix’s pa

South Korea is largely aligned with the US government’s export curbs on chips to China, but it is also making efforts to maintain trade ties with Beijing, Korea’s trade minister said in the US on Wednesday. Minister of Trade, Industry and Energy Ahn Duk-geun, who is visiting the US for the first time after he was inaugurated in January this year, added that the government is working to ensure the US trade curbs do not hurt the interests of Korean chipmakers. "Our basic stance is

Joint lab aims to nurture software ecosystem based on Intel’s chips

Samsung Electronics retained its No. 1 spot in the US home appliance market for an eighth consecutive year, dating to 2016, thanks to strong sales of key household products including refrigerators and washers, industry data showed Wednesday. According to market tracker TraQline, Samsung notched a 20.9 percent market share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percen

Tech giant looks to win hearts of younger iPhone fans

South Korean chipmakers Samsung Electronics and SK hynix have been boosting investment in the US to secure federal subsidies and get ahead in the intensifying competition in the advanced chip packaging and artificial intelligence chip sectors. Samsung Electronics, the world's top memory chipmaker that also runs chip design and foundry businesses, is reportedly planning to increase its investment in its semiconductor fabrication plant currently under construction in Taylor, Texas. According

SK Group said Monday that it was opening the birthplace of its founder Choi Jong-gun and the second-generation Chairman Chey Jong-hyun to the public in celebration of its 71st anniversary. The "Ancient Residence of SK," located on a 1,111 square-meter site in Suwon, Gyeonggi Province, has been refurbished as a memorial hall exploring the history of South Korea’s economic growth and entrepreneurship. The current Chairman Chey Tae-won is the third-generation leader of the nation&rs

The powerful earthquake that hit semiconductor powerhouse Taiwan last week may push up memory chip prices temporarily, as chipmakers there face operational disruptions, according to market watchers on Sunday. The earthquake, which struck off the east coast of island with a magnitude of 7.4 on Wednesday, put the tech industry on edge, as Taiwan is home to 18 percent of global chip manufacturing capacity and approximately 92 percent of the world's advanced semiconductors are produced there. M