Samsung vows to boost AI chip sales after earnings miss

Samsung Electronics said Thursday it will focus on producing high-value chips and is ready to supply the cutting-edge AI chips high in demand after announcing disappointing quarterly earnings. The company also hinted it is making strides to supply its cutting-edge HBM3E chips to Nvidia, which controls some 80 percent of the world's AI chips, and said it aims to mass produce the next HBM4 in the second half of next year. “There was a delay in commercializing HBM3E chips, but we have ma

Oct. 31, 2024

Mobile carriers raise severance pay to slim down workforce

Mobile carriers are strengthening their severance packages to encourage early retirement amid efforts to renew their business portfolio and restructure stagnant workforce. Kicking off voluntary redundancy, KT Corp., the country's second-largest telecommunication company, recently raised the maximum severance pay for voluntary redundancy, from 330 million won ($238,000) to 430 million won. Earlier this month, the mobile carrier decided to establish two new affiliates, KT OSP and KT P&M,

Oct. 30, 2024

Leadership reshuffle looms as Samsung struggles to remain atop

Samsung Electronics, facing challenges from its smaller rivals, is expected to carry out a major personnel reshuffle later this year, according to industry sources Monday. The world’s largest maker of memory chips and smartphones has been battling growing competition at home and abroad. When it comes to artificial intelligence chips, for instance, it has been outpaced by its crosstown rival SK hynix, as it failed to secure an earlier edge. “Samsung’s losses in HBM and foundry a

Oct. 28, 2024

SK chief assumes leadership of APEC CEO Summit

SK Group Chairman Chey Tae-won, who doubles as chair of the Korea Chamber of Commerce and Industry, will preside over the Asia-Pacific Economic Cooperation Summit, the largest gathering of business leaders in the region which is to be held next year in Korea, the business lobby said Sunday, upon the launch of the preparatory committee of the upcoming event. The APEC CEO Summit will be held on the sidelines of the annual APEC Summit, where 21 heads of state and some 1,000 businesspeople join. Gye

Oct. 27, 2024

Samsung mobile chief upbeat on Galaxy S24 sales

Samsung Electronics's mobile business chief Roh Tae-moon has pinned high hopes on the latest flagship Galaxy S24 series to drive up the company's smartphone business this year overall. Speaking to the employees in a regular town hall meeting on Wednesday, Roh reiterated the company's goal of creating an "ecosystem of Galaxy AI" to introduce the artificial intelligence model to all of its mobile devices, according to industry sources. "Galaxy has led the way into the

Oct. 24, 2024

LG Electronics unveils 2030 vision to boost corporate value

LG Electronics on Tuesday announced a mid-to-long-term plan to boost the company’s corporate value, with a goal to achieve sales of 100 trillion won ($72.6 billion) by 2030. The new announcement comes about two months after it said it would participate in the government’s Value-up Program, being the first to do so among the country’s top 10 conglomerates. In a regulatory filing, the home appliance giant reiterated its Triple 7 goal, under which the company aims to see a 7 perce

Oct. 22, 2024

SKT launches web version of AI assistant A.

SK Telecom, South Korea’s largest wireless carrier by membership, launched the web version of its multi-agent large language model service A. on Tuesday. A. was first introduced as a mobile application, as a personal AI assistant supporting users in managing their daily routines with essential functions including calendar, tasks and routine checkers. Now the AI service is accessible on various PC browsers, such as Chrome and Safari on PCs and tablet PCS, allowing users to use the service o

Oct. 22, 2024

SK hynix CEO visits Europe to explore chip partnerships

SK hynix CEO Kwak Noh-jung recently traveled to Europe to explore future chip technologies, meeting with key officials of the Interuniversity Micro Electronics Center, according to industry sources Monday. During his visit to the IMEC, headquartered in Leuven, Belgium, Kwak met with his counterpart Luc Van den Hove and Max Mirgoli, executive vice president in charge of worldwide strategic partnerships, at IMEC, among others. “It is fantastic when partnerships are based on friendship and tr

Oct. 21, 2024

[Herald Interview] Fairfax County seeks to attract Korea’s emerging tech firms

Aiming to reinforce its reputation as the “Silicon Valley of the East,” Fairfax County, located near Washington, DC in the US state of Virginia, is seeking to bring in more Korean tech firms specializing in emerging technologies such as quantum computing, artificial intelligence and aerospace, David Kelley, the vice president of the Fairfax County Economic Development Authority, said. "Fairfax County likes to pride itself on innovation, and especially innovation around emerging

Oct. 21, 2024

Samsung Display showcases latest OLED at Ferrari Finali Mondiali

Samsung Display has joined the Ferrari Finali Mondiali, the iconic closing event of the Ferrari Challenge Trofeo Pirelli to showcase its high-quality organic light-emitting diode panels including the foldable models, the company said Friday. During the event held Oct. 17-20 in Enzo and Dino Ferrari International Circuit in Imola, Italy, Samsung is displaying its latest OLED products in a 120-square-meter showroom designed to resemble a modern museum. Among the products are a 34-inch display with

Oct. 18, 2024