Samsung Electronics Vice Chairman and de facto leader Lee Jae-yong met Intel CEO Pat Gelsinger, the company said Monday, raising expectations over a possible collaboration amid an intensifying race for next-generation chip technology. The heads of the world’s No. 1 and No. 2 companies in the chip industry by revenue held a meeting during Gelsinger‘s visit to Seoul. He flew to Korea after attending the 2022 World Economic Forum in Davos, Switzerland. Samsung’s $82.3 billion rev

Samsung Display, the display making arm of Samsung Electronics, is poised to fully shut down its unprofitable liquid crystal display panel business for televisions in June, after over 30 years of operation. “(Samsung Display) will terminate its supply of LCD panels in June,” an industry source said Monday. The company has been manufacturing its lower-end panels in Asan, South Chungcheong Province. The long-awaited move came as LCD TV panel prices have been on a constant decl

Posco Chemical said Friday it has signed a deal to create a joint venture with US auto maker General Motors to launch a $327 million cathode materials plant for batteries that can power 220,000 electric vehicles annually in Quebec, Canada. The material firm, based in Pohang, North Gyeongsang Province, will invest $278 million in an 85:15 joint venture between Posco Chemical and GM, called Ultium CAM. The deal is preceded by Posco Chemical‘s plan to launch an operation there under Posco Ch

LG Group said Thursday it has confirmed a spending package of 106 trillion won ($83.7 billion) through 2026 to consolidate its manufacturing and research base in South Korea. The five-year plan is intended to add momentum to LG‘s domestic business regarding next-generation electric vehicle batteries, artificial intelligence, biopharmaceutical technology and clean technology. The expenditures are aimed at ramping up research capabilities, boosting production and securing infrastructure

Samsung Electronics said Wednesday it has partnered with US software company Red Hat to develop software technologies for next-generation memory solutions, as the industry is anticipating the birth of software to be integrated in memory chip hardware. Red Hat, an IBM subsidiary, is known for Red Hat Enterprise Linux, a commercial open-source Linux operating system distribution developed by the company. Under the partnership, Samsung and Red Hat will jointly develop and validate a software tha

South Korean information technology solutions firm LG CNS has come up with 52 real-life applications for artificial intelligence, in line with its move to expand AI-related consulting services, the company said Wednesday. The use cases will allow its clients to better identify what kind of AI solutions they would need, and help LG CNS recommend the most optimal solution to the clients, LG CNS said in a statement. For example, if a company is looking to avoid worksite disasters, LG CNS will r

South Korean telecommunication firm SK Telecom unveiled Wednesday plans to explore more use cases of quantum-protected chips used in Samsung Galaxy Quantum series smartphone, in hopes of entering mass market by the first quarter of 2024. The world‘s first-ever crypto chip solutions have so far been applied to the Galaxy Quantum series smartphone -- available for purchase only in Korea -- based on the quantum random number generator chip solutions SK Telecom developed jointly with Switzerl

South Korean battery maker Samsung SDI said Wednesday it is building its first US plant in the state of Indiana along with its joint venture partner Stellantis, joining its crosstown rivals to secure its footing in the burgeoning electric vehicle market. The $2.5 billion plant, located in Kokomo, Indiana, is expected to break ground later this year and start operations in the first quarter of 2025. The companies said they aim to elevate its production capacity from the current 23 gigawatt-ho

South Korea’s largest conglomerate Samsung announced Tuesday plans to invest a combined 450 trillion won ($355.8 billion) and create some 1 million jobs in Korea over the course of five years -- the largest ever in the group’s history -- in order to maintain its competitive edge and navigate uncertainties. Samsung also chose chip design, foundry and biotechnology as the major three pillars of its future growth in its investment guidance. The groupwide plan is expected to set the

SK Group, South Korea‘s second-largest conglomerate by assets, disclosed Monday actions to create social value and tools to measure how much impact it has generated through 2021 in numbers. The group with its subsidiaries contributed 18.4 trillion won ($14.5 billion) to issues such as unemployment, climate change, phone scams, blood shortages, car accidents due to drowsy driving, among others. The figure rose 60 percent from that of 2020, its estimate showed. SK had nearly 190 affiliates

US President Joe Biden’s trip to Asia and his choice of South Korea as his first stop underscore Washington’s willingness to address global supply chain uncertainties largely posed by Russia’s invasion of Ukraine, along with efforts to counter dependence on China. This can be achieved by strengthening collaboration with technology powerhouses in Asia’s fourth-largest economy, the summit between President Yoon Suk-yeol and Biden showed. To this end, Yoon and Biden called

GEUMSAN, South Chungcheong Province -- As the world shifts toward the next generation of connectivity for more immersive experiences and real-time communications, more sophisticated satellite connections will be needed, as simple single-orbit approaches are likely to struggle with the data processing in the future. KT SAT, a South Korean satellite communication services provider, was the latest to express a bid to implement a multiorbit strategy -- combining geostationary and lower-Earth orbit

SK Group said Tuesday it has signed a nonbinding agreement with the US small-sized nuclear power reactor design company TerraPower to solidify the groupwide push to reduce carbon emission. But the second-largest conglomerate in South Korea did not disclose a plan for an investment in the company. Under the plan, SK Inc., SK Innovation and TerraPower will jointly develop “next-generational technologies” needed for small modular reactors which operate at a capacity of 500 megawatts

Two former employees of Semes, a Samsung Electronics subsidiary and key semiconductor chip-related equipment supplier, have been indicted for their alleged involvement in technology theft. The two former Semes staffers were allegedly involved in selling crucial wafer cleaning machines -- believed to be identical to ones by Semes -- to an undisclosed Chinese entity, according to Suwon District Public Prosecutors’ Office on Tuesday. The pair and another two employees of a Semes’ suppl

South Korea’s largest mobile carrier, SK Telecom, unveiled Monday an open beta version of a virtual assistant the company said is aimed at providing an “intimate” and “emotional” experience for Android mobile phone users. Named A., pronounced as “ay-dot,” the Korean-language virtual assistant takes on the appearance of a toddler in a raincoat. Powered by a natural language processing model, users will be able to initiate a conversation with the virtual

While 5G penetration is still largely underway worldwide, it does not mean progress to build a faster wireless network globally has peaked. In order to offer users a full-fledged immersive experience, 6G will inevitably replace 5G networks, experts said in the first Samsung 6G Forum hosted virtually by tech giant Samsung Electronics Friday. Given that it takes about a decade to enable the next generation wireless network, and the world is seeing more applications that require massive data pro

South Korea’s homegrown mobile app store operator One Store has dropped its plan to go public amid poor stock market conditions, the company said Wednesday. One Store’s decision comes a day after a book building of institutional investors wrapped up, in which the offering price of a common share was below its suggested price band, at between 34,300 won ($26.9) and 41,700 won apiece. The figures have estimated One Store’s equity value at between 910 billion won and 1.1 trilli

Samsung Electronics has reclaimed the No.1 spot by monthly sales in India, buoyed by the return of its Galaxy Note successor Galaxy S22 Ultra, a phablet with built-in stylus S Pen support, data showed Tuesday. Samsung emerged as the leader in overall smartphone sales and shipments for the first time in six months in the world’s second-largest smartphone market, showed data by market intelligence Counterpoint Research. In March, Samsung accounted for 22 percent by volume market share and

Samsung Electronics said Tuesday that it has developed the industry’s first 512-gigabyte Compute Express Link (CXL) DRAM module for servers that enables a higher memory capacity and lower latency suitable for artificial intelligence and cloud computing. The CXL-standard DRAM memory expander will allow a server platform in data centers and enterprise servers to add new layers of short-term memory capacity compatible with a processor chip without unnecessary costs and complexities, as oppo

South Korea’s homegrown app marketplace One Store aims to challenge Google and Apple, two US tech giants that enjoy a near-monopoly in the whopping 300 trillion won ($235 billion) app store market globally, with its forthcoming stock market debut here. One Store, the nation’s sole operator of an app store of the same name, is a merged entity of the nation’s four app stores that was previously operated separately by SK Telecom, KT, LG Uplus and Naver. Now it is an affiliate of