Samsung unveils plans to enhance AI chip capability, local ecosystem

SEOUL, July 9 (AJU PRESS) - Samsung Electronics on Tuesday unveiled strategies to enhance its capabilities for manufacturing artificial intelligence chips and support the local semiconductor industry ecosystem. The world’s largest producer of memory chips held its annual Samsung Foundry Forum and Samsung Advanced Foundry Ecosystem (SAFE) Forum at COEX in Seoul. The events focused on its foundry process technology, manufacturing competitiveness and ecosystem enhancement measure

July 9, 2024

Prosecution questions Kakao founder over alleged stock manipulation

SEOUL, July 9 (AJU PRESS) - The prosecution questioned Kim Beom-su, the founder of Kakao Corp., on Tuesday as part of their investigation into his alleged stock manipulation linked to Kakao's takeover of SM Entertainment last year. Kim appeared before the Seoul Southern District Prosecutors Office in the morning to face a probe on charges of violating the Financial Investment Services and Capital Markets Act. Kim is accused of rigging the stock price of the K-pop agency in Fe

July 9, 2024

JobKorea launches job-posting service for foreigners

SEOUL, July 9 (AJU PRESS) - Online recruiting company JobKorea has launched a job-listing service for foreigners seeking job opportunities in Korea. The service, called KLiK (Kickstart Life in Korea), offers job information for foreign nationals in 28 languages, including English, Chinese, French, German and Dutch, the company said Monday. Users can quickly view job listings and company details, set criteria like location, language skills, and visa type, and efficiently browse j

July 9, 2024

Hyosung Heavy Industries wins transformer order from Norway's Statnett

SEOUL, July 8 (AJU PRESS) - Hyosung Heavy Industries secured a 330 billion won ($238.5 million) order to supply transformers to Statnett, a state-run company managing transmission systems in Norway, the Korean power equipment manufacturer said Monday. Hyosung will supply 420 kilovolt transformers to Statnett, marking the largest project the company has undertaken since venturing into the Norwegian market in 2020. The contract is aimed at expanding Norway's renewable energy po

July 8, 2024

Mixed expectations as Q2 corporate earnings season kicks off

SEOUL, July 8 (AJU PRESS) - Korea's second-quarter earnings report season is kicking off with a mixed outlook across sectors. The semiconductor industry shows signs of recovery amid the artificial intelligence boom, while battery makers appear to still be saddled with the lackluster electric vehicle market. Samsung Electronics issued its preliminary earnings guidance on Friday, significantly surpassing expectations. The tech giant estimated a remarkable 1,452.24 percent year-ove

July 8, 2024

Passenger numbers for Korean airlines jump 29% to record high in first half

SEOUL, July 8 (AJU PRESS) - Korean airlines carried a record 47.56 million passengers in the first half of 2024, marking a 29.1 percent growth year-on-year, driven by low-cost carriers (LCCs), government data showed Monday. The passenger number surpassed the previous record of 47.04 million set in the first half of 2019, before the COVID-19 pandemic, according to the data released by the Ministry of Land, Infrastructure and Transport. Domestic flights saw 18.15 million passenge

July 8, 2024

Samsung Electronics workers begin three-day strike

SEOUL, July 8 (AJU PRESS) - The largest labor union at Samsung Electronics began a three-day strike on Monday, demanding higher pay and improved bonus systems. The walkout is led by the National Samsung Electronics Labor Union (NSELU), which represents about 24 percent of Samsung's 125,000 employees. About 5,000 members are expected to join the walkout, the group said, citing a survey of over 8,000 members. The union launched the strike with a rally at 11 a.m. in

July 8, 2024

Samsung expects over 15-fold increase in second-quarter operating profit amid AI boom

SEOUL, July 5 (AJU PRESS) - Samsung Electronics expects its operating profit to have jumped more than 15-fold in the second quarter, driven by surging demand for memory chips amid the artificial intelligence boom. In its preliminary earnings guidance issued on Friday, the Korean tech giant estimated its operating profit increased by 1452.24 percent year-on-year to 10.4 trillion won during the April-June period, while revenue swelled by 23.31 percent to 74 trillion won, both far exce

July 5, 2024

SK geo centric produces sustainable synthetic fiber

SEOUL, July 5 (AJU PRESS) - SK geo centric Co. has produced polyester from renewable sources in collaboration with six global petrochemical and textile companies, including Finland's Neste and Thailand's Indorama Ventures, the company said Friday. SK geo centric produced renewable para-xylene (PX), a key component in polyester production, using renewable naphtha supplied by Neste. This marks the company's first venture into creating renewable para-xylene, with enough mat

July 5, 2024

Samsung SDI close to $1 billion battery deal with NextEra Energy

SEOUL, July 05 (AJU PRESS) - Samsung SDI is reportedly close to securing a 1 trillion won ($725.32 million) contract to provide energy storage system (ESS) batteries to NextEra Energy, America's largest power company. The deal, said to involve 6.3 GWh of batteries, represents 11.5 percent of North America's total ESS capacity last year. The main product for this supply is the Samsung Battery Box (SBB), recently unveiled at InterBattery Europe 2024 in Germany. The SBB is

July 5, 2024