The financial regulator and Naver, the top online portal operator, signed an agreement Wednesday on cooperation for the digitalization of the financial sector. Under the memorandum of understanding, the Financial Supervisory Service (FSS) will seek to utilize Naver's latest information technology, such as artificial intelligence (AI), to boost its monitoring and inspection capabilities. "The Fi...

As governments around the world fiercely compete to boost their semiconductor industries by distributing large subsidies, South Korea is pointed out as falling behind other chip powerhouses, raising concerns about the gap widening in the future. On Tuesday, the Japanese Ministry of Economy, Trade and Industry approved subsidies of up to 590 billion yen ($3.9 billion) for chip foundry venture Rap...

Tech giant sets up HBM-only research team in AI push

Starting with Singapore, Samsung plans to make a sales push on AI TVs in the Southeast Asia and Oceania markets, the company said. “Based on our technologies that have led the global TV market for 18 years in a row, we aim to provide the best TV viewing and connection experience to more consumers in those regions,” said Jo Sang-ho, president and CEO at Samsung Electronics Southeast Asia and Ocea...

Korean IT giant Kakao on Thursday appointed Chung Shin-a as its first female, chief while it is facing urgent challenges in revamping its corporate culture and management. The announcement was made as she gained a nod from shareholders during the annual meeting and a separate approval from the board of directors earlier in the day at the company’s headquarters in Jeju Island. After being named ...

Marking the 40th anniversary of its founding, SK Telecom, South Korea's largest wireless carrier by the number of accounts, promised to transform into a global artificial intelligence company, Thursday. The mobile carrier, first established in March 1984 under the name, Korea Mobile Telecommunication Services Corp., celebrates its 40th anniversary on Friday. "SKT's 40 years of achievements were...

CEO says nothing decided on chip packaging facility in US

LG Group said Wednesday it will invest 100 trillion won ($74.4 billion) in South Korea by 2028 to sharpen future technologies and seek new growth drivers. Unveiled at the group's annual shareholders meeting in Seoul, the long- and mid-term investment plan places an emphasis on advancing future technologies, including artificial intelligence, bio and clean tech, and pivotal business sectors, such...

Cho Joo-wan hints at M&A with platform, B2B businesses

South Korea's major appliances company LG Electronics said Tuesday it will pay out more dividends to its shareholders in a move to increase shareholder value. At an annual shareholders' meeting in Seoul, CEO Cho Joo-wan announced a new shareholder return policy for the next three years, improving the company's dividend payout ratio by 5 percentage points to 25 percent starting next year. He als...

Top two TV makers turn to content amid declining hardware sales

In order to secure an edge, Samsung announced it has developed 12-stack HBM3E, with the industry’s largest capacity of 36 gigabytes, and said it plans to start volume production in the first half of this year. The chip giant also confirmed it is in preparation of mass producing the eight-stack HBM3E by around June and July. Micron Technology also said it will start mass production of HBM3E and d...

The White House announced a plan Wednesday to award Intel nearly $20 billion in grants and loans, marking the Joe Biden administration's largest funding scheme under its initiative to strengthen domestic semiconductor production. The Department of Commerce has reached a preliminary agreement with Intel to provide up to $8.5 billion in grants and $11 billion in loans under the CHIPS and Science A...

Top executives hold first open talk session with shareholders

Samsung Electronics, the world's largest maker of memory chips, said Wednesday that macroeconomic uncertainties are expected to be high this year but vowed to embrace a new opportunity in the rise of artificial intelligence (AI). "Although uncertainties in the macroeconomic environment are expected to be high this year, new opportunities will also be increased through next-generation technologic...