Samsung's tri-fold phone sells out again despite hefty price tag SEOUL, December 17 (AJP) - Samsung Electronics’ ultra-premium Galaxy Z Tri-Fold smartphone has sold out again within minutes, reflecting strong demand for the company’s latest foldable innovation despite its price exceeding 3.59 million won ($2,450). Samsung said a second batch of the Galaxy Z Tri-Fold sold out in about two minutes after going on sale at 10 a.m. on its official website and at major retail outlets nationwide. The first batch, released on Dec. 12, sold out in roughly five minutes. The second sale allowed online orders with in-store pickup or home delivery within two to three days. Samsung has not disclosed official sales volumes. However, industry sources said supply could rise to between 2,500 and 5,000 units by early next year, potentially expanding to around 10,000 units over the longer term. The Galaxy Z Tri-Fold ranks among the most expensive smartphones currently on the market. Limited availability has pushed resale prices sharply higher on online platforms, with listings ranging from about 4 million to 5.5 million won, and some asking prices reaching as high as 10 million won. The Galaxy Z Tri-Fold is Samsung’s first tri-foldable smartphone, featuring a display that folds twice. When fully unfolded, it offers a screen measuring about 253 millimeters, or roughly 10 inches, while folding down to a bar-type smartphone with a 164.8-millimeter display. 2025-12-17 15:35:50

Samsung's Lee Jae-yong holds AI chip talks with Tesla, AMD in US SEOUL, December 16 (AJP) - Samsung Electronics Chairman Lee Jae-yong met Tesla Chief Executive Elon Musk and Advanced Micro Devices Chief Executive Lisa Su during a visit to the United States, as the company moves to strengthen partnerships in next-generation artificial intelligence semiconductors. Lee returned to South Korea on Sunday after the trip, which focused on expanding Samsung’s foundry and memory businesses with leading global technology firms. “I worked hard,” Lee told reporters upon his arrival in Seoul. According to industry sources, discussions with Musk covered cooperation on AI chip development, U.S.-based production infrastructure and long-term supply stability. Samsung and Tesla in July signed a 23 billion dollar foundry supply contract — the largest in Samsung’s history — under which Samsung will manufacture Tesla’s AI6 chips at its Texas plant. Samsung is already producing Tesla’s AI4 chips and has secured part of the production for AI5 chips, which had initially been expected to be awarded to Taiwan Semiconductor Manufacturing Company. Musk recently said on social media that Samsung had agreed to help improve Tesla’s manufacturing efficiency, highlighting the deepening relationship between the two companies. Lee also met AMD Chief Executive Lisa Su to discuss expanding cooperation in advanced chips. Samsung currently supplies high-bandwidth memory HBM3E to AMD and is in talks to manufacture AMD’s next-generation central processing units using Samsung’s 2-nanometer process, industry officials said. Such cooperation would help Samsung diversify its foundry business beyond memory chips and strengthen its position in the market for high-performance system semiconductors. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-16 09:00:11

LG Electronics names home appliance chief as new CEO SEOUL, November 27 (AJP) - LG Electronics has appointed Ryu Jae-cheol, head of its Home Appliance & Air Solution (H&A) division, as chief executive officer, replacing Cho Joo-wan. The board approved the leadership change on Thursday as part of its executive appointments and organizational restructuring. Ryu, known for his technical background and operational experience within LG’s flagship appliance unit, will be tasked with sharpening the company’s competitiveness across all business lines. The reshuffle includes 34 executive promotions with two new presidents, two vice presidents, nine senior executives and 21 executives. Cho Joo-wan, who stepped down as CEO, is credited with laying the groundwork for a more service-oriented business model and improving LG’s global competitiveness. The leadership handover marks the company’s first CEO change in four years. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 16:14:59

Samsung heiress' recent move to Yongsan reflects South Korean parents' obsession with education SEOUL, October 30 (AJP) - Samsung heiress and Hotel Shilla president Lee Boo-jin has reportedly moved back to her home in Seoul's tony district of Yongsan just north of the Han River. Her recent relocation from Daechi-dong in the capital's upscale district of Gangnam clustered with crammers, to the quieter neighborhood appears to be related with her son's graduation from high school. According to industry sources, Lee lived in Daechi-dong throughout her son's middle and high school years to support his studies and has now returned to the neighborhood traditionally known as an enclave for the conglomerate's family members. The move is seen to reflect South Korean parents' obsessive zeal for their children's education, as another familiar case, since most of them are often willing to make huge sacrifices to give their children an advantage in life. In particular, it has become the norm for wealthy parents including those from family-owned conglomerates known as chaebol, to send their children to private elite schools in the country and to prestigious universities overseas. This looks to be part of a strategy not only for enhancing their academic achievements but also for building networks and preparing them for future opportunities. This trend is evident in many previous cases. For example, Hanwha Group chairman Kim Seung-youn's sons graduated from prestigious schools in the U.S., while SK Group chairman Chey Tae-won's daughters studied in China and the U.S. Scions of LG families also attended certain universities in the U.S., where they built networks and formed special connections among themselves. One business insider said, "Major conglomerates like Samsung view education not only as a course to groom successors but also as an essential part of building business leadership." * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-30 13:35:06

Business leaders to gather for dinner with Xi SEOUL, October 30 (AJP) - Chinese President Xi Jinping is making his first visit to South Korea in 11 years to attend the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. According to industry sources, he is scheduled to meet with top business leaders and executives at a dinner to strengthen bilateral economic ties. The meeting is scheduled for Saturday, when the multilateral gathering wraps up. Attendees are expected to include leaders from top conglomerates such as Lee Jae-yong of Samsung Electronics, Chung Eui-sun of Hyundai Motor, Chey Tae-won of SK Group, and Koo Kwang-mo of LG Group. Among notable figures from the Chinese side, battery manufacturer CATL's chairman Zeng Yuqun and Chinese entrepreneur and former CEO of JD.com Liu Qiangdong, are expected to attend. "The dinner could be a chance to foster mutual understanding and improve relations between business leaders from both countries," one industry watcher said. Meanwhile, Xi arrives in South Korea on Thursday for a three-day stay, which includes a meeting with U.S. President Donald Trump. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-30 09:54:05

Seoul confirms summits with Trump and Xi, Japan's under discussion SEOUL, October 24 (AJP) - South Korean President Lee Jae-myung, host of this year’s Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, will hold bilateral talks with U.S. President Donald Trump on Oct. 29 and Chinese President Xi Jinping on Nov. 1, both attending as state guests, the presidential office confirmed Friday. National Security Adviser Wi Sung-lac said a separate meeting with Japan’s new Prime Minister Sanae Takaichi is being discussed. “President Trump will participate in various state guest activities following the summit, and the meeting with President Xi will take place on the final day of APEC, Nov. 1, after President Lee chairs the second session and transfers the chairmanship to President Xi,” Wi told reporters. Venues for the bilateral meetings are still under review. Running from Oct. 29 to Nov. 1 under the theme “Creating a Sustainable Tomorrow: Connectivity, Innovation, Prosperity,” this year’s APEC forum will address trade, artificial intelligence, and demographic challenges. President Lee will open the APEC CEO Summit on the morning of Oct. 29 as a special speaker before meeting with President Trump. He is also scheduled to meet Canadian Prime Minister Justin Trudeau on Oct. 30 to discuss bilateral cooperation, Wi said. The main APEC session will begin on Oct. 31 under the sub-theme “Towards a More Connected and Resilient World,” focusing on trade and investment. Attendees will include UAE Crown Prince Khalid and IMF Managing Director Kristalina Georgieva. The second session on Nov. 1 will center on “Asia-Pacific Vision for Future Changes,” covering AI and demographic shifts. “As the host nation, President Lee aims to restore APEC’s cooperative momentum and lead future-oriented discussions on artificial intelligence and aging populations,” Wi said. “He seeks meaningful outcomes that reinforce South Korea’s role as a hub for regional cooperation.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 13:27:54