South Korean home appliance giant LG Electronics said Friday it would further develop strategies tailored to each country's consumption patterns and demand to deal with the aggressive global market penetration of Chinese rivals. "Chinese firms have deviated from a low-cost strategy and are actively investing in each production region, while strengthening their products and brand power," Kim I-kueon, vice president and head of home appliance and air solution business division at LG

Friday is the first anniversary of Samsung Electronics Executive Chairman Lee Jae-yong's official ascension to the top post at Korea's largest conglomerate. Over the past year, the Samsung chief conducted various management activities to explore new opportunities, laying the foundation for his own “New Samsung” vision, while succeeding the legacy of his father, the late Chairman Lee Kun-hee, who died three years ago. Experts agree that his push for “supergap technology” i

SK hynix, the world’s second-largest memory chip maker, said Thursday that it plans to boost its investment in high-value DRAM chips such as High Bandwidth Memory and DDR5, in line with the growth of the artificial intelligence market. “The capital expenditure for next year will increase compared to this year. … We’ll minimize the expansion by considering investment efficiency and financial stability,” Kim Woo-hyun, vice president and chief financial officer at SK

Competition is heating up between South Korean chip rivals Samsung Electronics and SK hynix to take the lead in the Compute Express Link, or CXL, technology amid its ongoing High Bandwidth Memory chip supremacy war. Although the market is still at the nascent stage, the two global DRAM leaders are seeing CXL as a potential game changer. CXL is an open, industry-supported interconnect between processors and devices such as accelerators, memory buffers and smart devices. It is considered a key tec

KT Corp. said Sunday it is teaming up with Thailand’s telecom giant Jasmine Group to co-develop an artificial intelligence language model specialized in Thai and to launch related services together in Southeast Asia. Following the signing of a memorandum of understanding in September last year, top executives, including KT CEO Kim Young-shub and Jasmine Group Chairman Pete Bodharamik, gathered in Seoul on Thursday to discuss more details of the partnership. Under the extensive partnership,

Samsung Electronics unveiled its newest chip technologies and products at its annual global event in San Jose, California, Friday, eyeing a key role in providing hyperscale artificial intelligence models. Under the theme of “Memory Reimagined,” about 600 people, including technicians, analysts and industry officials, attended this year’s Memory Tech Day to look into Samsung’s technologies in areas such as cloud, edge devices and automobiles. The tech giant unveiled its la

SK Group Chairman Chey Tae-won urged top executives of the group's affiliates to respond with agility to survive in a fast-changing market environment and deepening geopolitical crisis, according to the group on Thursday. In the closing ceremony of the group's annual CEO seminar held in Paris on Wednesday (local time), Chey spoke about his awareness to executives of the group’s key affiliates and announced he would start implementing measures to counter risk factors in the macro

A week ahead of the third anniversary of the late Samsung Group Chairman Lee Kun-hee’s death, scholars gathered at a global academic conference in Seoul on Wednesday, looking back on his management initiatives introduced three decades ago. About 300 scholars from Korea and abroad attended the event hosted by the Korean Academic Society of Business Administration, reminiscing about the late Samsung patriarch’s business philosophy, leadership and contributions to Korean society. &ldquo

South Korea’s Trade Minister Ahn Duk-geun said Tuesday that the US government’s recent decision to allow exports of its chip equipment to Samsung Electronics and SK hynix plants in China has greatly relieved uncertainties surrounding the top memory chip makers’ operation and investment there. “The latest achievement came after mobilizing all consultation channels centering on the presidential office and the Ministry of Trade, Industry and Energy, while closely communicati

SK Group will hold its annual CEO meeting – one of the biggest gatherings of its top executives – in Paris this week to discuss its management strategies amid the backdrop of rising global uncertainties, according to industry sources on Monday. About 30 CEOs, together with Chairman Chey Tae-won, Executive Vice Chairman Chey Jae-won and SK Discovery Vice Chairman Chey Chang-won, will participate in this year’s three-day seminar starting later Monday. It marks the first time in 1

Not satisfied with its dominant position in the Korean market, Amazon Web Services, the cloud business arm of US tech giant Amazon, appears to be attempting to occupy an even greater presence here with an aggressive investment strategy, putting domestic companies under growing pressure. According to a recent announcement made by AWS in Seoul, it plans to invest 7.85 trillion won ($5.88 billion) in Korea’s cloud computing infrastructure by 2027. The amount is about triple its previous 2.73

SK Group Chairman Chey Tae-won (left) attends a memorial stone unveiling event for two US veterans – the late Colonel William E. Weber and late Major General John Kirk Singlaub – held in Paju, Gyeonggi Province, Thursday, with their bereaved family members also in attendance. Lauding the veterans who fought in the 1950-53 Korean War, the SK chief said that they "gave us the seed of liberal democracy." The event was held in in commemoration of the 70th anniversary of the Sou

The space economy is expanding and becoming increasingly global, and South Korea is leaping forward as a space powerhouse, a high-ranking official at the Korea Aerospace Research Institute said at the 2023 Korea Herald Humanity In Tech, or HIT Forum, held at The Shilla Seoul on Wednesday. With innovative technologies and massive investment, both governments and companies around the globe have secured space assets because they can directly impact the state’s survival in terms of security, a

Samsung Electronics predicted Wednesday that its operating profits in the July-September period would recover to exceed 2 trillion won ($1.5 billion) after months of efforts to elevate profitability amid memory chip slump. Samsung's third-quarter operating profits is estimated to hit 2.4 trillion won, a 77.9 percent plunge from a year ago, according to the company’s earnings guidance. The figure exceeded the 2.2 trillion won consensus by local analysts provided by market intelligence

LG Electronics said Tuesday it expected its third quarter operating earnings for 2023 to climb 33.5 percent from a year before, amid the strong performance of its home appliance and vehicle component solutions units. LG estimated that its operating profit for the July-September period came in at 996.7 billion won ($738 million), compared with 746.6 billion won a year ago, according to the company’s earnings guidance. The home appliance maker’s earnings guidance for the July-September