LG Innotek to spend $270 million to boost production lines in Viet Nam

SEOUL, November 22 (AJP) - South Korea's LG Innotek, the supplier of camera modules to Apple iPhones, announced on Thursday it will make 375.9 billion won (US$270 million) additional investment in Viet Nam. This is part of a plan the company unveiled last year to invest 1.3 trillion won to expand its production subsidiary in Hai Phong. The Hai Phong production subsidiary mainly manufactures camera modules, and the additional production lines are scheduled for completion in

November 22, 2024

SK Hynix begins mass production of world's first 321-layer NAND memory

SEOUL, November 21 (AJP) - SK Hynix announced on Thursday it has started mass production of the industry's first 321-layer 1-terabit Triple Level Cell (TLC) 4D NAND flash memory, with plans to supply the product to customers in the first half of 2025. The development is expected to consolidate the firm's position as a key player in the AI memory market. It is well-positioned to capitalize on the growing demand for AI memory solutions with its strong focus on HBM, coupled w

November 21, 2024

Samsung Electronics, SK Hynix in talks with Biden administration to finalize semiconductor subsidies

SEOUL, November 21 (AJP) - The Biden administration is speeding up the disbursement of subsidies under the CHIPS Act to finish them within his term, with attention on the upcoming approval of subsidies for Samsung Electronics and SK Hynix, Korean conglomerates that committed to invest in the U.S. Concerns that President-elect Donald Trump, who has criticized the CHIPS Act several times, may attempt to neutralize the law after his inauguration in January have prompted these expedi

November 21, 2024

Hyundai Motor's first foreign CEO is strategic choice in bracing for Trump presidency

SEOUL, November 21 (AJP) - Hyundai Motor Company has named Jose Munoz as its new CEO, a move widely interpreted as a strategic response to the potential implications of a second Trump presidency in the United States. Munoz, who joined Hyundai in 2019 as President and Global COO, has a proven track record of success in North America. Under his leadership, Hyundai's market share in the region rose from 3.9% to 5.6% between 2018 and 2023. The company credits him with strengthenin

November 21, 2024

KCCI to work with Singaporean institute to fight carbon emissions

SEOUL, November 20 (AJP) - South Korea’s Korea Chamber of Commerce and Industry (KCCI) has joined forces with Singapore’s non-profit Asia Carbon Institute (ACI) to strengthen the voluntary carbon market (VCM) in Asia, a region responsible for approximately 60% of global carbon emissions. The VCM is a market where entities not subject to mandatory emissions reduction targets, such as companies, local governments, and individuals, can voluntarily participate in carbon re

November 20, 2024

SK Hynix VP stresses adaptability to market shifts in HBM development

SEOUL, November 20 (AJP) - SK Hynix Executive Vice President Choi Woo-jin, head of the company’s Package & Test (P&T) division, emphasized the importance of technological preparedness and adaptability to market shifts. “Understanding market conditions and customer needs quickly is fundamental, and it’s important to consistently prepare technology that can support this,” Choi said in an interview published on the company’s newsroom on Tuesday.

November 20, 2024

Kumho Tire to invest more in Viet Nam

SEOUL, November 20 (AJP) - South Korea's Kumho Tire is reviewing the possibility of expanding its factory in southern Vietnam next year, nearly three years after initiating the second phase of expansion in 2021. With this new expansion, the Korean tire manufacturer aims to increase the factory's annual production capacity to 17 million units or more by the first half of 2026, a 36 percent increase from the current capacity. According to authorities in Binh Duong Provinc

November 20, 2024

BYD's success in Korean market depends on localization

SEOUL, November 20 (AJP) - China's largest automaker BYD is set to enter the Korean electric vehicle (EV) market in early 2025. While the Shenzhen-based company has been operating in South Korea's commercial vehicle sector since 2016, its foray into the passenger car market is anticipated to be more challenging. BYD plans to introduce its mid-sized Seal sedan and Atto 3 SUV as its flagship models in Korea. The Seal model, currently priced between 149,800 yuan (US$20,700

November 20, 2024

Samsung to unveil extended reality platform by year-end

SEOUL, November 19 (AJP) - Samsung Electronics plans to unveil its Extended Reality (XR) platform by the end of this year, with a potential device launch in the third quarter of 2024, industry sources said on Tuesday. TM Roh, head of Samsung's Mobile Experience (MX) division, announced at the Galaxy Z Fold6 and Flip6 Unpacked event in Paris last July that the company would "create the ecosystem first before launching the device," suggesting the platform will focus on

November 19, 2024

CJ CheilJedang will work with Morgan Stanley to sell bio division: reports

SEOUL, November 19 (AJP) - South Korea's leading food manufacturer CJ CheilJedang has selected Morgan Stanley as the lead manager to sell its bio business division, according to media reports. The sale, reported by the Investment Bank on Monday, could fetch several trillion won with the proceeds expected to be used for future mergers and acquisitions to strengthen the company's global food business operations. The move comes as part of CJ CheilJedang's broader strat

November 19, 2024