LG chief to hold monthlong meetings with key affiliates

LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a

Oct. 21, 2024

TSMC likely to reclaim lead in sales over Samsung

Samsung Electronics’ chip division is likely to be dethroned by TSMC, the world's largest foundry company that manufactures Nvidia chips, in terms of the latest quarterly sales, according to industry sources on Sunday. Samsung’s third-quarter sales are estimated to reach a record high of 79 trillion won ($57.7 billion), up 17.2 percent from a year ago. Although the Korean tech giant has not released detailed reports on the performance of its key business units for the quarter ea

Oct. 20, 2024

LG Uplus chief stresses quality in AI innovations

LG Uplus CEO Hwang Hyeon-sik on Wednesday stressed service quality as the top priority in the telecom carrier’s ongoing efforts for artificial intelligence-based corporate transformation or AX. “The most fundamental aspect of growing into an AX company should be service quality,” the CEO said during a town hall meeting with employees on Wednesday. “No matter how innovative AI technology may be, it cannot create true customer satisfaction if not backed by quality.” &

Oct. 17, 2024

Samsung to debut advanced DRAM chip for AI next year

Samsung Electronics, the world's largest memory chip maker, said Thursday it has developed the industry’s first 24-gigabit GDDR7 DRAM, set for a market debut early next year. Compared to the previous 16Gb GDDR7 DRAM, the new chip has improved capacity, performance and power efficiency, the company said. Samsung applied 12 nanometer-class processing technology to increase cell density within the same package size, achieving a 50 percent increase in capacity compared to the predecessor.

Oct. 17, 2024

Investors upbeat on LG CNS’ W7tr IPO

South Korean IT solutions provider LG CNS has emerged as a major initial public offering contender for next year as it began the listing process on the country’s main bourse Kospi earlier this month. Market watchers estimate the firm’s corporate value to reach around 7 trillion won ($5.14 billion), making it Korea's largest IPO since LG Energy Solution in January 2022. For a successful market debut, it will be crucial for the company to add more corporate clients and improve pro

Oct. 16, 2024

Herald Business Forum envisions future with AI

Herald Media Group hosted the Herald Business Forum on Tuesday, offering insights to help businesses make decisions that enable them to lead the global industrial ecosystem. The theme was “Surviving Technology’s Metamorphosis.” "AI has become a key technology for national economy and security. The government will fully support companies so that they can boldly challenge the global market and achieve success,” said Park Chun-sup, senior presidential secretary for econ

Oct. 15, 2024

KT to make AI push with staff shakeup

South Korean telecom carrier KT is reportedly set to carry out an organizational revamp focused on artificial intelligence while elevating profitability and efficiency, according to industry sources Monday. KT plans to hold a board meeting on Tuesday, with organizational restructuring and personnel relocation likely topping the agenda. The board is expected to approve the establishment of two subsidiaries dedicated to network operation and maintenance, KT OSP and KT P&M, to start operation f

Oct. 14, 2024

[Herald Interview] JM.Wave 'repowers' pollutant vehicles into emissions-free EVs

As global carmakers rush to make the costly transition to carbon-free electric vehicles, Park Jeong-min, CEO of the Seoul-based startup JM.Wave, asks, “What about the remaining internal combustion engine cars?” The 7-year-old company holds the "repowering technology" that converts vehicles with internal combustion engines into EVs. It is also the first to get regulatory sandbox approval from the Ministry of Land, Infrastructure and Transport after passing a safety verificat

Oct. 13, 2024

Merck opens new chip materials R&D center in Korea

German technology firm Merck said Thursday it has opened its latest spin-on-dielectric (SOD) application center in Anseong, Gyeonggi Province in a bid to respond quickly to its customer needs here. The company held the opening ceremony of the latest facility at the production site that same day. Attendees include senior executives of Merck and its key clients, Samsung Electronics and SK hynix. The new facility, the second of its kind in Asia, is equipped with advanced technology for measuring an

Oct. 11, 2024

KT, Microsoft to debut Hangeul AI language model next year

South Korean mobile carrier KT Corp. said Thursday it will team up with US tech giant Microsoft to develop a new artificial intelligence model tailored to the Korean language and culture within the first half of next year. KT CEO Kim Young-shub presented its vision at the event and announced the goal of jointly developing a Korea-specific AI and cloud model aligned with Microsoft’s objectives. “Microsoft is well aware of Korea's significance in the global information and communi

Oct. 10, 2024