Korean firms revamp US lobbying strategies as Trump's tariff threats grow

Samsung in search of lobbying experts with strong ties to Trump With US President Donald Trump escalating threats of tariffs and trade restrictions, South Korean conglomerates are rushing to revamp their Washington offices to establish direct connections with the new administration. Samsung Electronics, the world's leading smartphone and semiconductor maker, is considering appointing a new head for its US office and is actively seeking experts with strong ties to Trump. "We are actively looking

March 12, 2025

Billions at stake: Trump’s CHIPS Act repeal plan worries Korean chipmakers

Prolonged political turmoil leaves Korean firms without US negotiating power South Korean chipmakers are in a tough spot as US President Donald Trump threatens to revoke the federal subsidies pledged to them for building advanced semiconductor production facilities in the US, escalating his attacks on his predecessor’s chip support program. Although some view Trump’s remarks as political posturing aimed at pressuring chipmakers to invest more, companies that have already committed tens of billio

March 9, 2025

Misleading QLED claims land Chinese TV-makers in legal trouble

Hisense, TCL accused of deceptive marketing in US, as they challenge market leader Samsung Chinese TV-makers are facing legal challenges in the US for misleading consumers by claiming that their QLED screens incorporate highly advanced quantum-dot technology for better image quality when they do not. Industry experts warn that these "deceptive" attempts by Chinese companies to outpace their Korean rivals who lead the premium QLED TV market are only undermining their own positions in the high-end

March 6, 2025

Trump bemoans Korean tariffs, calls for repeal of CHIPS Act

• Korea stresses ‘effectively 0% tariff’ on US goods under FTA • Trump lures Korean investments into Alaska LNG project US President Donald Trump said that South Korea’s tariffs are on average four times higher than those of the US, despite American military support, indicating reciprocal tariffs could take effect from April 2 as he made the case for his tariff policy. Delivering his remarks at his first address to a joint session of the US Congress on Tuesday, Trump also called for an end to th

March 5, 2025

SK hynix's US revenue more than doubles on AI chip boom

SK hynix Inc. saw its US revenue more than double in 2024, accounting for nearly half of its total annual sales, fueled by strong demand for its cutting-edge high bandwidth memory chips. In a regulatory filing on Tuesday, the world’s second-largest memory chip maker reported that SK hynix America generated sales of 33.19 trillion won ($22.7 billion) in 2024, marking a 2.6-fold increase from the previous year. These sales accounted for about half of SK hynix’s total annual revenue of 66.19 trilli

March 4, 2025

LG Electronics readies for $1.8b Indian IPO

South Korean home appliances giant LG Electronics is aiming to cement its presence in India, going for an initial public offering in the country, where the firm is a leader in the premium TV and air conditioner market. On Friday, the company’s Indian arm filed for an IPO with the Securities and Exchange Board of India, a draft red herring prospectus from the company showed. LG Electronics, the parent company that fully owns the Indian entity, will sell 101.8 million shares, accounting for

Dec. 8, 2024

Network failures occur amid impeachment rallies in Seoul

Network failures and service disruptions occurred in key areas of Yeouido and Gwanghwamun in Seoul on Saturday, as thousands of citizens filled the streets ahead of the impeachment vote for the embattled President Yoon Suk Yeol. “I could not send any messages on KakaoTalk or Telegram when I reached the front of the National Assembly. My connection was restored when I moved farther away from the Assembly,” a protester said. Media outlets seeking to livestream the rally in front of the

Dec. 7, 2024

Conservative professors, ex-diplomats oppose President Yoon Suk Yeol's impeachment

Conservative groups of professors and former diplomats separately issued statements on Saturday to oppose the impeachment of the embattled President Yoon Suk Yeol, who came under fire after declaring martial law this week. A right-leaning group of former diplomats, comprising some 230 members, claimed the impeachment motion was illegitimate, having been written without much consideration in only half a day. “Impeachment is not a political decision but a constitutional mechanism that requir

Dec. 7, 2024

SK enhances leadership for chip, US teams

SK Group, the country's second-largest conglomerate, carried out a relatively modest year-end reshuffle Thursday, focusing largely on organizational restructuring to boost core competence under the three key themes, technology, field expertise and global presence. With the goal to enhance its US presence, the conglomerate appointed a former chief of the US Trade Representative to oversee government relations at SK Americas. The group also sought for restructuring of SK hynix, its lucrative

Dec. 5, 2024

Korea faces new test of credibility in global supply chain

Although South Korean President Yoon Suk Yeol's surprise declaration of martial law did not make it even through the night, such political unrest in a country home to leading tech giants could result in long-term market fallout, potentially weakening Korea's role in the global supply chain of critical technologies such as chips, experts said Wednesday. In the hours after martial law was declared, the Korean won fell to its lowest level against the US dollar in three years, while Korea-

Dec. 4, 2024