Journalist

Jin-young Park
  • LG Electronics posts record first-quarter revenue; home appliances and auto parts top 10 trillion won
    LG Electronics posts record first-quarter revenue; home appliances and auto parts top 10 trillion won LG Electronics said improving results in its core home appliance and vehicle components businesses pushed combined quarterly revenue from the two units above 10 trillion won for the first time. The company said it plans to sustain growth by focusing on future businesses such as data center cooling and commercialization of home robots. In a final earnings release on Tuesday, LG Electronics reported first-quarter operating profit of 1.6737 trillion won, up 32.9% from a year earlier. Revenue rose 4.3% to 23.7272 trillion won. It was the company’s highest first-quarter revenue on record and its third-highest first-quarter operating profit. Despite economic uncertainty, key businesses including home appliances and TVs supported the results, the company said. Its vehicle components business, a key driver of business-to-business growth, also continued to expand steadily. On an earnings conference call Tuesday afternoon, an LG Electronics official said operating profit faced headwinds from higher prices for some raw materials and tariff effects that have intensified since the second half of last year, but the company maintained solid profitability by expanding higher-margin businesses. Growth also continued in B2B, platform and direct-to-consumer experience businesses that the company said are driving quality growth based on profitability. First-quarter B2B revenue was 6.5 trillion won, up 19% from the previous quarter and up 1% from a year earlier, accounting for 36% of companywide revenue. Subscription business revenue, including product and service sales, rose 8% from the previous quarter and 15% from a year earlier to 640 billion won. The Home Appliance Solution (HS) division, which makes products such as washing machines and refrigerators, posted revenue of 6.9431 trillion won and operating profit of 569.7 billion won. Revenue was the highest across all quarters, and the division posted an operating margin of 8.2% despite higher raw material costs and the impact of U.S. tariffs. The company said its strategy of targeting both premium and midrange segments while expanding online sales and appliance subscriptions helped results. The Media Entertainment Solution (MS) division, which includes TVs, reported revenue of 5.1694 trillion won and operating profit of 371.8 billion won. Operating profit rose sharply from a year earlier and returned to the black from the previous quarter. The Vehicle Solution (VS) division posted revenue of 3.0644 trillion won and operating profit of 211.6 billion won, setting quarterly records for both. The company said sales increased, led by European automakers, as in-vehicle infotainment solutions moved upmarket and were adopted in more models. The Eco Solution (ES) division reported revenue of 2.8223 trillion won and operating profit of 248.5 billion won. Both fell from a year earlier due to weaker consumer sentiment tied to the Middle East war and higher labor costs from staffing increases in key businesses, the company said. LG Electronics said it will prioritize securing opportunities in data center cooling. The company said its chiller business, part of its data center cooling push, is expected to reach its 2027 revenue target of 1 trillion won ahead of schedule. It also said data center-related revenue, though still at an early stage, grew to about three times the prior year’s level last year. The company said certification processes for key products are progressing smoothly with major customers, including global big tech firms, and it expects to share visible results soon. The company also said it is accelerating commercialization of home robots, which it described as a future core business. An LG Electronics official said proof-of-concept demonstrations for its CLOi humanoid business are being carried out systematically this year, and that mass production of initial volumes of actuators, a key robot component, is set to begin in the first half of the year. The official said demonstrations will start in the first half and expand gradually into industrial and home uses, adding that the company will use its home-related expertise from its appliance business to lay the groundwork for commercialization of home robots in 2028.* This article has been translated by AI. 2026-04-29 17:53:04
  • LG Electronics warns of further PC price hikes if memory prices keep surging
    LG Electronics warns of further PC price hikes if memory prices keep surging Park Sang-ho, an executive director in charge of management planning at LG Electronics’ MS division, said on April 29 during an earnings conference call that a shortage of memory semiconductors and rising prices are pushing up costs across the PC industry. “For PC products, which have a high share of memory components, the entire industry is facing a heavy burden from sharply higher costs,” Park said. “We have already applied price increases of about 15% to 20%, but if memory prices continue to surge, additional increases appear unavoidable.” He said the impact remains limited for other product lines such as TVs and monitors. “Compared with PCs, TVs have a relatively lower share of memory, so the effects of supply shortages and price increases are limited,” Park said, adding that “aside from some smart monitor products, the impact of memory-driven price increases is minimal.” Park said the company is also pursuing a supply-chain stabilization strategy, citing what he described as an unexpected “super cycle” in the semiconductor market and the likelihood that supply constraints will persist for an extended period. He said LG Electronics is working closely with major memory makers to secure needed volumes and is taking steps including supply MOUs with key partners, diversifying suppliers, dual-sourcing parts and building advance inventory through close coordination with vendors. * This article has been translated by AI. 2026-04-29 17:26:41
  • LG Electronics posts record first-quarter revenue; home appliances and vehicle parts top 10 trillion won
    LG Electronics posts record first-quarter revenue; home appliances and vehicle parts top 10 trillion won LG Electronics said improved performance in its core home appliance and vehicle components businesses pushed their combined quarterly revenue above 10 trillion won for the first time. In its finalized earnings released Tuesday, LG Electronics reported first-quarter operating profit of 1.6737 trillion won, up 32.9% from a year earlier. Revenue rose 4.3% to 23.7272 trillion won. It was the company’s highest first-quarter revenue on record and its third-highest first-quarter operating profit. Despite economic uncertainty, major businesses including home appliances and TVs supported the results, the company said. It added that steady growth continued in its vehicle components business, a key driver of business-to-business growth. LG Electronics said growth also continued in B2B, platform and direct-to-consumer experience (D2X) businesses aimed at improving profitability and the quality of growth. First-quarter B2B revenue was 6.5 trillion won, up 19% from the previous quarter and up 1% from a year earlier, accounting for 36% of total company revenue. First-quarter subscription revenue, including product and service sales, was 640 billion won, up 8% from the previous quarter and up 15% from a year earlier. The HS division, which handles home appliances such as washers and refrigerators, posted revenue of 6.9431 trillion won and operating profit of 569.7 billion won. Revenue was the division’s highest for any quarter. It posted an operating margin of 8.2% despite higher raw material prices and the impact of U.S. tariffs, the company said. LG Electronics said its strategy of targeting both premium and volume segments, while expanding online sales and appliance subscriptions, helped performance. For the second quarter, the company said it plans to sustain revenue growth by strengthening product lineups and expanding efforts in the Global South, while focusing on profitability through supply chain optimization and stronger cost competitiveness. It also said it will continue developing future growth engines including home robots and robot components. The MS division, which includes TVs, reported revenue of 5.1694 trillion won and operating profit of 371.8 billion won. Operating profit rose sharply from a year earlier and returned to the black from the previous quarter, the company said. LG Electronics cited strong premium sales and growth in its webOS platform business, along with more efficient marketing spending and reduced fixed costs. For the second quarter, it said it will prioritize responding to sports events and securing profitability, while expanding partnerships and continuing content investment for the webOS platform business. The Vehicle component Solutions (VS) division posted revenue of 3.0644 trillion won and operating profit of 211.6 billion won. Both were quarterly records for the division. The company said sales increased, led by European automakers, as premium in-vehicle infotainment solutions expanded to more vehicle models. LG Electronics said the division’s quarterly operating margin exceeded 6% for the first time since the unit was launched, calling it significant as the vehicle components business continues stable, order-based growth and becomes a steady cash-generating B2B business alongside home appliances. The Eco Solution (ES) division reported revenue of 2.8223 trillion won and operating profit of 248.5 billion won. The company said both fell from a year earlier due to weaker consumer sentiment tied to the Middle East war and higher labor costs from hiring for key businesses. LG Electronics said it plans to keep expanding region-tailored product sales, including unitary systems in North America and heat pumps in Europe, and to broaden non-hardware businesses such as installation, operation and maintenance. It also said it will expand its lineup of integrated solutions, including liquid cooling as a next-generation technology alongside air cooling, to improve energy efficiency and pursue opportunities in cooling solutions for AI data centers (AIDC). 2026-04-29 14:30:16
  • LX International Q1 Operating Profit Falls 6.8% to 108.9 Billion Won
    LX International Q1 Operating Profit Falls 6.8% to 108.9 Billion Won LX International said in a regulatory filing Tuesday that its first-quarter operating profit on a consolidated basis totaled 108.9 billion won, down 6.8% from a year earlier. The company cited factors including a decline in the Shanghai Containerized Freight Index (SCFI). First-quarter revenue rose 4% from a year earlier to 4.2113 trillion won, helped by higher output and sales at key assets including the AKP nickel mine in Indonesia and palm plantations. Operating profit, however, jumped 96.2% from the previous quarter, nearly doubling as profitability rebounded. The company pointed to stronger resource-market conditions, supported by supply-control policies in major resource-producing countries including Indonesia and by the closure of the Strait of Hormuz. It said improved results in its resources and trading businesses led the companywide gain in profitability. With selling prices rising on stronger commodity markets, it expanded production and sales at major assets such as the AKP nickel mine and palm plantations. Sales volumes also increased for key trading items, including methanol, contributing to quarter-on-quarter improvement. In logistics, the company said it continued to generate steady profit, led by its contract logistics (CL) business that manages overall logistics operations for corporate clients. A company official said, "On the back of a recovery in global resource markets and improved profitability in the trading division, we saw a sharp improvement in profitability from the previous quarter," adding, "Even in an uncertain business environment marked by greater volatility in resource and logistics markets, we are focusing on improving operating efficiency at core assets and generating stable cash flow." The official said the company will accelerate diversification and a shift in its business portfolio by investing in future-oriented minerals such as nickel, bauxite and copper; developing new markets and expanding new businesses; and entering new growth areas including energy infrastructure and power solutions, with a focus on producing visible results. * This article has been translated by AI. 2026-04-29 13:30:09
  • Samsung Electronics Targets Heat Pumps as Key Growth Engine in Home Appliances Revamp
    Samsung Electronics Targets Heat Pumps as Key Growth Engine in Home Appliances Revamp As Samsung Electronics overhauls its underperforming home appliance business, it is putting heat pumps at the center of its next growth push. The company said it will move more aggressively into electrified heating in South Korea, building on proprietary heat pump technology it says has been recognized in Europe and other global markets. Song Byeong-ha, a group leader in Samsung Electronics’ DA (home appliances) business, said at a media briefing on April 29 for the company’s newly launched Korea-specific “EHS heat pump boiler” that heat pumps are “a key solution” for switching to electric heating and achieving carbon neutrality. “Based on proven technology and global R&D infrastructure, we will continue to innovate so domestic consumers can enjoy both stable heating performance and energy efficiency,” Song said. A heat pump absorbs heat energy from outside and uses it as an indoor heat source. It operates on a vapor-compression cycle in which a refrigerant repeatedly changes between liquid and gas, absorbing and releasing heat. The principle is similar to an air conditioner: refrigerant that has absorbed outside heat is compressed into a high-temperature, high-pressure gas, and the heat is transferred through a heat exchanger to indoor air or water. After releasing heat, the refrigerant expands, cools and returns to a liquid state that can absorb heat again. Samsung said its heat pump uses a large-capacity heat exchanger and a more efficient valve structure inside the compressor to reduce energy loss during compression. The company said the system can supply about five times as much heat energy as the electrical power it consumes. Samsung also said the system is designed to provide stable heating in severe cold. It said high-efficiency refrigerant compression and anti-icing technology allow operation at temperatures as low as minus 25 degrees Celsius, and that it can reliably supply hot water up to 70 degrees Celsius even at minus 15 degrees Celsius. Song cited a user case in Yangpyeong, saying temperatures there fell to minus 15 degrees Celsius in January and the home maintained an indoor temperature of 15 degrees Celsius for about 20 days, leaving the customer “very satisfied.” He said oil boiler users often turn systems on and off to manage fuel costs, while a heat pump can be left running, offering a convenience advantage. Samsung said heating costs can be reduced by up to 53% compared with typical city gas. Song said results vary depending on the relative prices of gas, oil and electricity, but the Yangpyeong customer cut heating costs by 53% after switching to a heat pump. He added that after about 2.5 to 3 years, a heat pump becomes clearly more cost-effective than city gas. Samsung said carbon dioxide emissions are about 60% lower. It also said the product uses R32 refrigerant, which it said has a global warming potential 68% lower than R410A, a refrigerant commonly used in residential air conditioners and other heating and cooling equipment. Song acknowledged limits, including difficulty installing the system in high-rise buildings such as apartments and higher upfront installation costs. He said heat pumps are currently optimized for typical houses, and that Samsung is working with Samsung C&T, a Samsung Group affiliate, to study what technology best fits high-rise apartments of 20 floors or more. He said the company expects to disclose results soon. Separately, the government began a heat pump boiler support program this month for households using briquette or kerosene boilers and for areas without city gas supply in major local governments including Jeju, South Jeolla and South Gyeongsang. Applicants can check eligibility through local government notices and apply in person. Eligible households can receive subsidies after installation is completed and verified through an on-site inspection by the local government. The subsidy can cover up to 70% per household, including purchase and installation costs. * This article has been translated by AI. 2026-04-29 11:25:13
  • South Korea to Launch $1 Billion On-Device AI Chip Program in May
    South Korea to Launch $1 Billion On-Device AI Chip Program in May The South Korean government will begin a large-scale program in May to develop on-device artificial intelligence semiconductors, committing a total budget of 1 trillion won through 2030. The initiative aims to have major companies including Hyundai Motor and LG Electronics work with domestic fabless chip designers to build customized AI chips.  Lim Ki-taek, a project director at the Korea Institute for Advancement of Technology (KEIT), said April 28 that the “K-On-Device AI Semiconductor Technology Development Program” will launch new projects in May and then continue for five years.  “We held a final review meeting yesterday with the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy, and we expect to post the request for proposals as early as late May,” Lim said. He added that a draft RFP is complete and will be adjusted slightly to fit the budget before it is announced.  Under the program, domestic fabless companies will design AI chips requested by corporate users, and domestic foundries will manufacture them. The government plans to link demand companies with fabless designers and foundries. As an example, Lim said a fabless firm could design an AI chip needed for Hyundai Motor’s autonomous vehicles, and a foundry such as Samsung Electronics could produce it.  The program targets four areas: automobiles; Internet of Things and home appliances; machinery and robots; and defense. The goal is to develop on-device AI semiconductors domestically and build advanced products using them, with mass production targeted for 2030.  Lim said the government’s R&D planning reflects the need for industry-specific customization in system semiconductors. “The biggest change in R&D policy under the current administration is connecting fabless companies with leading firms in each industry,” he said. “Because system semiconductors must be tailored to each industry, fabless companies need to know what demand companies want. We built matching opportunities into the R&D plan so they can meet more often.” This year, based on feasibility reviews and demand surveys, the government plans to newly support seven areas. In autos, it will back development of an advanced driver assistance and autonomous driving (ADAS/AD) domain controller for next-generation software-defined vehicles. In IoT and home appliances, it will support development of human-empathy smart space systems and on-device AI semiconductor technology. It will also support development of an on-device AI computing unit for collaborative robots at a commercially viable level, and product development of next-generation AI collaborative robots based on neural processing units (NPUs).  Demand-side participants include Hyundai Motor, LG Electronics, Doosan Robotics, Daedong and Korea Aerospace Industries (KAI). Selected fabless companies include Nextchip, Telechips, DeepX, Mobilint, Boss Semiconductor, Aim Future and DeeperAI. Lim said the program is designed primarily to help domestic fabless companies expand globally. “We are placing more weight on the fabless sector,” he said, adding that working with major domestic demand companies through chip development and commercialization will strengthen technical capabilities and create “a win-win” for both chip designers and end users. * This article has been translated by AI. 2026-04-28 18:09:12
  • DeepMind CEO Demis Hassabis Visits South Korea, Meets Samsung, SK hynix and Hyundai on AI
    DeepMind CEO Demis Hassabis Visits South Korea, Meets Samsung, SK hynix and Hyundai on AI Demis Hassabis, CEO of Google DeepMind and a key architect of Google’s artificial intelligence strategy, has visited South Korea for the first time in 10 years. During the trip, he is set to meet executives from major South Korean companies including Samsung Electronics, SK hynix and Hyundai Motor, drawing industry attention a decade after the 2016 match between AlphaGo and Lee Sedol. Industry officials said Hassabis will hold closed-door meetings on the 28th with senior figures from Samsung Electronics, SK hynix and Hyundai. The talks are expected to focus on cooperation to strengthen a “global AI ecosystem” that links hardware and software, and to reinforce existing partnerships. Hassabis met at 3 p.m. with President Lee Jae-myung and Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon at Cheong Wa Dae to discuss cooperation between the South Korean government and companies. On the 29th, he is scheduled to attend the “Google for Korea 2026” event and hold a dialogue with Lee Sedol on the future of AI. The most closely watched stop is his meeting with Samsung. Samsung and Google have long been allied through Android. After formalizing an AI partnership in 2024, Samsung began adding Google’s Gemini AI starting with the Galaxy S24 series. Hassabis is expected to discuss next-generation on-device AI and development of dedicated semiconductors with Samsung executives. Samsung and Google have also been pushing AI-driven form-factor innovation in areas such as mobile devices and smart glasses. In a video message for last year’s Galaxy S25 series launch, Hassabis said Google’s AI agent “Gemini Live” would be applied to the Galaxy S25 and integrated with Samsung apps to deliver new functions across Calendar, Notes, Reminder and Clock. He said the companies would expand to platforms better suited to AI assistants, including smart glasses and headsets. Cooperation with SK hynix is another focal point. SK hynix, a leading supplier of high-bandwidth memory, is viewed as one of the few indispensable partners in HBM, a key component for AI computing. Google’s in-house Tensor Processing Unit requires HBM, and the company is reported to be considering HBM4E for a next-generation TPU slated for release next year. The companies are expected to discuss issues including customized memory supplies optimized for Google TPUs. A meeting with Hyundai is also drawing interest as the companies look to future mobility. Google has been deepening cooperation by supplying about 50,000 Hyundai Ioniq 5 vehicles to its robotaxi unit Waymo. Hassabis is expected to discuss ways to apply AI to accelerate Hyundai’s shift to software-defined vehicles and to advance autonomous-driving algorithms. “His visit, as the ‘father of AlphaGo,’ shows that Korean companies’ AI hardware capabilities hold a key position in the global market,” an industry official said. The official added that the trip could further solidify a broad AI alliance between Google and South Korean companies spanning both hardware and software.* This article has been translated by AI. 2026-04-27 17:12:20
  • Fadu posts 7.7 billion won Q1 operating profit, returns to profitability
    Fadu posts 7.7 billion won Q1 operating profit, returns to profitability Data center semiconductor company Fadu said Monday it returned to profitability in the first quarter, posting 59.5 billion won ($59.5 billion won) in revenue and 7.7 billion won in operating profit in a preliminary earnings filing. The company swung from an operating loss of 12.0 billion won a year earlier to an operating profit of 7.7 billion won. Net profit also turned positive, reaching 10.2 billion won after a 12.1 billion won loss in the same period last year. Revenue jumped about 210% from 19.2 billion won a year earlier, the company said, citing accelerating demand tied to growth in AI data centers and a surge in enterprise solid-state drive, or eSSD, demand. Fadu said orders have risen as mass production of its core controller business ramps up for global hyperscalers, and it expects growth to steepen into the second half of the year. The company said controllers accounted for about 80% of first-quarter revenue, reflecting a shift it has pursued since last year and a sharper improvement in profitability. Fadu said it plans to make this year a turning point for a “quantum jump” in both revenue and profit. It said it will cultivate new growth engines such as power management integrated circuits, or PMICs, while broadening its customer base by targeting markets in Asia as well as the United States. The company is also strengthening research and development. In March, it hired Kim Jin-su, a professor in Seoul National University’s Department of Computer Science and Engineering who has researched computer architecture and system software, as chief research officer to pursue next-generation storage system development. Fadu said its goal is to move beyond supplying SSD controllers and become a comprehensive storage solutions company that designs and provides full storage architectures optimized for AI workloads. Chief Executive Nam Yi-hyeon said, “This return to profitability is the result of customers recognizing the technology and sincerity Fadu has worked hard to build over a long time.” She added, “Now that we have fully established ourselves in the global hyperscaler ecosystem, revenue and profit will begin to grow in earnest.” * This article has been translated by AI. 2026-04-27 11:42:42
  • Samsung Electronics Launches Samsung Wallet Trips to Manage Travel Details in One App
    Samsung Electronics Launches Samsung Wallet Trips to Manage Travel Details in One App Samsung Electronics said Sunday it will launch “Samsung Wallet Trips,” a service aimed at improving travel planning and management for Galaxy users. The feature lets users manage travel items — including airline boarding passes, hotel reservations, and tickets for theme parks and sporting events — in a single Samsung Wallet app. Samsung said the service brings together travel information that had been spread across multiple apps and platforms, improving convenience. After creating a travel entry in Samsung Wallet, users can use the “Trip Timeline” to manage itineraries organized by time and location. Users can also add detailed schedule items and use a memo function to save related links or information for more structured planning. Samsung said it is working with global partners so users can add hotel and flight booking confirmations and activity tour tickets directly to Samsung Wallet, and it plans to expand those partnerships to offer broader travel information. The company said it protects user data through its Samsung Knox security platform, using encryption and biometric authentication so only the device owner can access travel information. Chae Won-cheol, vice president and head of the Digital Wallet Team in Samsung’s MX Business, said the service will help Galaxy users manage travel information more smartly and focus on enjoying their trips.* This article has been translated by AI. 2026-04-27 08:21:37
  • Samsung Electronics, SK hynix Seen Posting Record 2026 Operating Profit on Memory Price Surge
    Samsung Electronics, SK hynix Seen Posting Record 2026 Operating Profit on Memory Price Surge South Korea’s two biggest chipmakers, Samsung Electronics and SK hynix, posted earnings surprises in the first quarter despite the usual seasonal slowdown. With results expected to accelerate into the second half, investor expectations are rising that their combined operating profit could reach 500 trillion won this year. According to brokerage estimates cited on April 24, SK hynix is forecast to post 65.1 trillion won in operating profit in the second quarter, nearly double its first-quarter operating profit of 37.6 trillion won. Samsung’s second-quarter operating profit is projected at 89.9 trillion won. Together, that would total about 155 trillion won for the quarter. The outlook reflects expectations that prices for DRAM and NAND flash — key drivers of the first-quarter improvement — will climb even more in the second quarter. Kim Hyeong-tae, an analyst at Shinhan Investment Corp., said average selling prices are expected to rise 41% for DRAM and 67% for NAND from the previous quarter, adding that the NAND market “is somewhat undervalued” and that expectations for a “surprise” NAND performance remain in place. Even in the seasonal off-peak period, the two companies’ combined operating profit from their semiconductor businesses reached 90 trillion won in the first quarter. Of Samsung’s preliminary operating profit of 57.2 trillion won, operating profit from its semiconductor (DS) division is estimated at around 50 trillion won. Profitability also hit record levels. SK hynix said in its earnings release on April 23 that it posted a 72% operating margin, well above the 58% reported by Taiwan’s TSMC, the top foundry company often seen as a benchmark for chip profitability. Samsung’s first-quarter operating margin was 43%, and its memory business alone is estimated to be in the 60% range. Brokerages are increasingly projecting that combined operating profit this year will exceed 500 trillion won. They forecast annual operating profit of 320 trillion won for Samsung (Meritz Securities) and 230 trillion won for SK hynix (Hana Securities), for a combined 550 trillion won. Analysts also say memory chips are becoming core infrastructure in the AI transition, pointing to structural growth rather than a temporary boom. Choi Bo-young, an analyst at Kyobo Securities, said demand for DRAM and NAND is expanding broadly as agentic AI spreads, while a structural supply shortage persists, setting up steep price increases in the second half. Choi said SK hynix is seeing clearer gains in high-value products based on its HBM3E exclusivity and a 60% share in HBM4, and that long-term supply agreements (LTAs) have helped reduce earnings volatility and improve visibility for a longer cycle.* This article has been translated by AI. 2026-04-24 17:05:01