Samsung Electronics on Wednesday sent out invites to its annual unpacking event for its new flagship Galaxy devices that will take place in San Francisco at 10 a.m. on Feb. 1. Entitled “Galaxy Unpacked 2023: Share the Epic,” the event will be held in person for the first time in three years since the pandemic. It will also be livestreamed from Seoul through Samsung’s newsroom and homepage, as well as its official YouTube channel, the officials said. “A new era of Galaxy i

SK Inc., the investment arm of SK Group, said Tuesday it will co-host a networking event with the group’s biopharmaceutical affiliates including SK biopharmaceuticals and SK pharmteco to expand its global partnerships in the US, the world’s largest bio and pharmaceutical market. The event, titled “SK Bio Night,” will take place at the Four Seasons Hotel in San Francisco on Wednesday. About 100 executives from some 50 companies -- including SK’s biopharma firms, the

US chipmaker Broadcom has voluntarily come up with corrective measures, including a fund of 20 billion won ($16.1 million), to support the local chip industry amid an ongoing antitrust probe into the company's alleged abuse of power against Korean clients, including Samsung Electronics. On Monday, South Korea's Fair Trade Commission unveiled the measures tentatively agreed upon with Broadcom. In August last year, the FTC accepted the US company’s request to submit corrective me

LG Electronics said Friday it expected its 2022 fourth-quarter operating earnings tumbled more than 91 percent from a year prior, amid its home appliance unit’s sluggish performance coupled with global recession woes. LG estimated operating profit for the October-December period came in at 65.5 billion won ($51.6 million), down 91.2 percent from the same period a year before, according to the company’s earnings guidance. It would be the first time in four years for South Korea’

Samsung Electronics predicted Friday that its 2022 fourth-quarter operating profit would plummet 69 percent from a year earlier, as its main semiconductors business faced major headwinds from weakening demand for chips and home appliances amid recession woes. In its earnings guidance, the South Korean tech giant estimated its October-December operating profit to be 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year prior. The figure was lower than the consensus 6.93 trillion wo

LAS VEGAS -- In celebration of the 10th year of launching LG’s first organic light emitting diode (OLED) TVs, LG Electronics and LG Display jointly celebrated the big day in Las Vegas, Wednesday. With some 150 people of the companies’ executives and staff members, industry officials and experts joining the event, the LG subsidiaries looked back on the past decade of their OLED history and shared their visions for the future directions of display technology developments. After overcom

LAS VEGAS -- LG Innotek said Thursday it will showcase a series of its latest innovative technologies and products related to autonomous driving and the metaverse at the Consumer Electronics Show 2023 set to be held from Thursday to Monday in Las Vegas. It will mark the first time the electronics component manufacturer opens a booth to the public at the annual event, the world’s largest tech convention. Previously, the company had only invited clients to introduce new products. In line w

The South Korean Finance Ministry on Tuesday proposed a plan to further expand tax breaks for the semiconductor industry to the world’s highest level amid escalating competition among chip powerhouses globally. The local industry hailed the decision as indicating the government’s renewed commitment to boosting the crucial chip industry, but uncertainties remain about its effectiveness, and whether it will be approved in parliament. “It is true that the revision comes belatedly,

South Korea’s antitrust regulator said Tuesday it is imposing a fine of over 2.85 billion won ($2.23 million) on US electric vehicle maker Tesla and Tesla Korea for deceiving local consumers with false and exaggerated advertisements. The penalty on Tesla is assessed for advertising its battery performance on its official website here dating to August 2019 for exaggerating that its electric vehicles can drive more than its driving range on a single charge, the Fair Trade Commission said. Ci

By Business Desk New opportunities can arise from out of crises. Chiefs of Korea's top conglomerates are banking on words of wisdom for the year ahead as businesses face an age of relentless changes stemming from geopolitical conflicts, inflationary pressures and a recessionary environment. To overcome factors dragging on business activities, uncovering their own path to thrive for growth has become more important than ever as traditional approaches and paradigms have been challenged. In

Rep. Yang Hyang-ja, a former executive at Samsung Electronics’ semiconductor business division, called securing a competitive edge in chips a “matter of life and death” amid the ever-evolving geopolitical landscape and an escalating US-China rivalry. “The winner of the global chip battle will control the economic security order, while the loser will end up becoming a technological colony,” Yang, who heads the ruling People Power Party’s special panel on chips,

President Yoon Suk-yeol on Friday ordered ministries to actively consider measures further expanding tax incentives for the semiconductor sector and other national strategic industries. Yoon requested the Ministry of Economy and Finance to come up with ways to further expand tax benefits for national strategic technologies such as semiconductors as they are "our security assets and core technologies," a president office’s deputy spokesperson said. His remark came after the ruling

Samsung Electronics will provide a maximum of 50 percent of their annual salaries as bonuses to the employees of its chip business unit at the end of January, industry sources said Thursday. The world's biggest memory chipmaker has reportedly informed its executives and employees about the detailed plan for annual incentives, dubbed the overall performance incentive (OPI), a day earlier. Samsung rewards its executives and employees every January with up to 50 percent of their salaries withi

South Korean telecom giant KT Corp. said Wednesday it has appointed its incumbent CEO, Ku Hyeon-mo, as the final candidate to take the helm at the company. The company’s CEO candidate review committee on the same day assessed whether Ku was eligible for a second three-year term. After conducting preferential reviews for seven times, the committee informed the company’s board of directors that Ku is qualified. The KT CEO will be elected at the regular general meeting of shareholders

Samsung Electronics on Wednesday unveiled its Galaxy Book2 Pro 360, a 2-in-1 laptop with a 360-degree hinge that flips from PC to tablet in a snap, while offering a touch screen and S Pen. The product is equipped with the Qualcomm Snapdragon 8cx Gen 3 processor. It rolls out on Jan. 16.