Despite worsening chip environment, chipmaker plans to invest W21tr on facilities in Q4

The Ministry of Science and ICT said Thursday that it is mulling writing a guideline on how tech giant Kakao should compensate its free-service users who suffered damages during its service outage earlier this month. The government hopes that the guideline, which would be the first of its kind, would help expedite the compensation process under a "first compensate" principle, a ministry official told Yonhap. This comes after Kakao Chief Executive Officer Hong Eun-taek said the company

NFT platform leaves pricing of art to collective intelligence

Blockchain company X-widget said Thursday it is developing a virtual asset information-providing solution called Artificial Intelligence Index (AIIN) by combining artificial intelligence and big data technologies. The service is set to launch in early 2023. The new service will use X-widget’s independent blockchain platform to provide virtual asset-related indexes, a prediction on virtual asset prices, a collective virtual asset management service, and an investment community network servi

Samsung Electronics Vice Chairman Lee Jae-yong has been promoted to chairman of the world's largest chipmaker and smartphone maker, ending a high-profile succession process that took more than three decades to complete, with a vow to invest in transcending technology that could reboot the tech giant's growth engine. Lee, 54, was crowned Samsung Electronics' new executive chairman with the board of directors' approval Thursday morning, 10 years after he held the vice chairman

South Korean drug maker Boryung has acquired the selling rights of Alimta, a non-small cell lung cancer treatment developed by US pharmaceutical company Eli Lilly, for the local market. According to Boryung on Tuesday, the acquisition agreement also included the copyright and licensing rights of Alimta in the country. First introduced in Korea in 2006, Alimta was the first drug to significantly reduce the anti-cancer drug’s adverse effects and toxicity while improving the survival rate of

SK hynix operating profit plummets 60% in Q3 earnings shock, instantly scaling back facility investment

President Yoon underlines solidarity beyond borders to cope with pandemic at event co-hosted with WHO

South Korean memory chip supplier SK hynix said Tuesday it has shipped the world's fastest DRAM module under the double data rate 5 standard, considered a next-generation memory technology. SK hynix shipped memory module samples that boast up to a 6,400-megabit-per-second data transfer speed and 32-gigabyte memory density earlier this month, according to the company, without specifying the date. It added the integration of the clock driver in the new samples has improved the signal integrit

A memorial service honoring the late Samsung Electronics Chairman Lee Kun-hee was held Tuesday, without a major announcement made by the electronics giant in regards to a succession plan for his son to ascend to the top leadership. Speculation has been building recently that Samsung Electronics Vice Chairman Lee Jae-yong might be promoted to the chairman post, using the memorial service for momentum. Lee has held the "vice chairman" position for the past decade. Lee's eventual ass

SK Group leader, Naver co-founder apologize over data center shutdown, service failure

New technology likely to contribute to commercializing robotic hands for amputees, disabled

  South Korean chipmaking giants have suffered a decline in their market capitalization and profitability due to heated competition from Chinese rivals and a heavy tax burden, data showed Monday. Of the world's top 100 chipmakers in the world by average market cap from January to September period, only three local players -- Samsung Electronics, SK hynix and SK Square -- were listed, according to the Federation of Korean Industries, a lobby group based in Seoul, citing data from S&P Cap

The South Korean government will set up a digital crisis management headquarters to launch an all-year-round system that inspects and supervises the country’s digital infrastructure and services, the Ministry of Science and ICT said Friday. The government’s plan came in the wake of Kakao’s server outage caused by a fire at SK C&C’s data center building, which led to a breakdown of the country’s most popular messaging app KakaoTalk for over 10 hours on Oct. 15. M

  SK Group Chairman Chey Tae-won called on chiefs of the group’s affiliates to navigate business uncertainties by setting up case-by-case scenarios in order to turn misfortunes into gains, South Korea's second-largest business conglomerate said Sunday. The implementation of a data-driven action plan and internalization of sustainability factors, under the mantra of "SK Management System 2.0" unveiled in June, will allow the energy-to-biotechnology group to take a leap forwar