Samsung Electronics leads hiring in Korea with 4,716 new jobs in 2024

SEOUL, February 05 (AJP) - Samsung Electronics remained as South Korea’s top employer in 2024, hiring 4,716 new workers despite ongoing challenges in its semiconductor business, according to data released on Wednesday by CEO Score. The firm's national pension subscriber count rose to 125,593 employees as of the end of 2024, marking a 3.9 percent increase from 120,877 in 2023. Hyundai Motor followed as the second-largest employer, with 69,285 pension subscribers, while LG

February 5, 2025

OpenAI beefs up AI, semiconductor ties with Korean firms

SEOUL, February 4 (AJP) - OpenAI CEO Sam Altman signaled plans to expand the company's presence in South Korea during his visit to Seoul on Tuesday, emphasizing the nation's advanced semiconductor industry and AI infrastructure. "South Korea possesses powerful industries related to AI, including semiconductors and energy, and stands as one of the nations actively embracing AI technology," Altman said at OpenAI's "Builder Lab" workshop, the company'

February 4, 2025

Samsung, LG unveil latest display technologies at ISE 2025

SEOUL, February 04 (AJP) - Samsung Electronics and LG Electronics will showcase their latest advancements in commercial display technology at Integrated Systems Europe (ISE) 2025, with both South Korean tech giants emphasizing energy efficiency and AI-driven solutions. Samsung introduced four models of its Color e-Paper display, ranging in size from 13 inches to 75 inches, designed for outdoor use with near-zero power consumption when displaying static content. The company also

February 4, 2025

Samsung Display to supply OLED displays for Qualcomm's platform

SEOUL, February 04 (AJP) - Samsung Display has signed a memorandum of understanding with Qualcomm Technologies to supply OLED displays for Qualcomm's Snapdragon Cockpit Experience Development Platform, the companies said Tuesday. The collaboration will incorporate Samsung's 34-inch 6K (6,008 x 934) wide OLED display into Qualcomm's cockpit demonstration kits, showcasing features including AI graphics, infotainment systems, and autonomous driving information visualizati

February 4, 2025

Gold prices soar as tariff tensions drive investors to seek safe assets

SEOUL, February 4 (AJP) - Gold prices in South Korea soared to an all-time high on Tuesday as investors sought safe-haven assets amid rising trade tensions and global economic uncertainty. The price of gold on the Korea Exchange (KRX) hit 139,980 won ($95.87) per gram as of 10:40 a.m., marking a 1.43 percent increase from the previous day and extending a 3.6 percent surge from Monday. The rally represents a 60.8 percent jump from a year ago, setting the highest level since the marke

February 4, 2025

Korea's two leading shipbuilders to compete for $5.4 billion destroyer program

SEOUL, February 4 (AJP) - The Korean government has cleared Hanwha Ocean and HD Hyundai Heavy Industries to compete for a contract to build the country’s next-generation destroyers, intensifying a high-stakes battle between the nation’s leading shipbuilders. The decision by the Ministry of Trade, Industry and Energy on Monday effectively doubles the pool of qualified bidders for the Korean Destroyer Next Generation (KDDX) program, an 8 trillion won ($5.4 billion) project

February 4, 2025

Samsung E&A wins $1.7 billion UAE methanol plant contract

SEOUL, February 04 (AJP) - Samsung Engineering & Construction Americas (E&A) has secured a $1.7 billion contract to build a methanol plant in the United Arab Emirates, the company said Tuesday. The project, awarded by UAE's state oil company ADNOC, involves constructing a facility capable of producing 5,000 tons of methanol per day at the Taziz Industrial Complex in Ruwais. The engineering, procurement, and construction (EPC) contract covers a construction period of 44

February 4, 2025

Foreign ownership of Samsung Electronics falls below 50 percent

SEOUL, February 03 (AJP) - Foreign ownership of Samsung Electronics slipped below 50 percent for the first time in more than a year, reflecting mounting investor concerns over semiconductor demand and the company’s position in the rapidly evolving artificial intelligence market. As of Friday, foreign investors held a 49.99 percent stake in South Korea’s largest company, down from 56.55 percent in July 2024, according to data from the Korea Exchange. Over the past six m

February 3, 2025

OpenAI CEO to announce Kakao partnership during Korea visit

SEOUL, February 03 (AJP) - OpenAI CEO Sam Altman will visit South Korea on Tuesday for a private workshop with local developers and to announce a strategic partnership with the country’s tech company, Kakao, according to sources. The event, dubbed "Builder Lab," will take place at Seoul’s Plaza Hotel, reflecting the intensifying global race in artificial intelligence. Altman’s visit marks his third trip to South Korea, following previous stops in June 2

February 3, 2025

Hyundai Motor Group may restructure US operations amid tariff fallout

SEOUL, February 3 (AJP) - Hyundai Motor Group is considering reorganizing its North American operations after the Trump administration imposed a 25 percent tariff on imports from Canada and Mexico, throwing a wrench into the automaker’s supply chain. The South Korean firm is now exploring ways to shift portions of its Mexican production to the United States in response to new trade barriers that also include a 10 percent tariff on Chinese imports and the possibility of duties

February 3, 2025