SK hynix, the world’s second-largest memory provider, achieved a 175 percent on-year growth in its operating profit in the third quarter of this year, despite adverse market conditions including declines in prices and the COVID-19 pandemic. According to its earnings results announced Wednesday, the chipmaker posted 8.13 trillion won ($7.2 billion) in revenue, while obtaining 1.3 trillion won in operating profit during the period between July and September. Revenue and operating profi

Samsung Electronics announced human-centered artificial intelligence as the direction of its research and development on AI and introduced ongoing projects at its annual AI forum on Tuesday. Sebastian Seung, president and head of Samsung Research, said, “Today’s theme, human-centered AI, is in line with Samsung’s vision to make products and services that further enrich people’s life.” The research chief introduced the institution’s projects in the fields o

Samsung Electronics on Sunday marked the 51st anniversary of its foundation in silence, in the first memorial day under scion Lee Jae-yong just one week after Chairman Lee Kun-hee’s death. There was no official remark from Samsung regarding the anniversary, but the conglomerate was set to hold a ceremony Monday. Whether Vice Chairman Lee Jae-yong would release a message was not confirmed. Industry watchers are paying attention to what a new Samsung with heir Lee officially at the he

A send-off ceremony for the late Samsung Group Chairman Lee Kun-hee was held Wednesday, attended by bereaved family, friends and some Korean business tycoons as they bid a final farewell to the chairman who turned Samsung into Korea’s first world-class business empire. Lee died Sunday at age 78, more than six years after being hospitalized for a heart attack. The ceremony for Lee was held privately at a funeral hall at Samsung Medical Center in southern Seoul around 7:30 a.m. for about

What will consumers want in the future, and how can companies lure them? Samsung Electronics’ innovation and startup investment arm, Samsung NEXT, is delving into the behavior of future consumers and preparing to establish new business models to attract them, said Jamie Choi, vice president at Samsung Electronics.  “In comparison with consumers in the past, today’s consumers seek diversity, empowerment and expression of one’s value,” Choi said during her lec

Renowned figures from the business, political and diplomatic communities made visits to Samsung Medical Center on Monday to pay tribute to the late Samsung Group Chairman Lee Kun-hee. Starting with former and current executives of Samsung, hundreds of officials across industries, politicians, government officials and foreign ambassadors to South Korea mourned the loss of the Samsung chairman and recalled their memories of Lee.  Former Samsung Electronics President Chang Choong-ki, one o

Lee Jae-yong, only son of the late Samsung Chairman Lee Kun-hee, has played a central role in leading the conglomerate since late 2013. The vice chairman had been preparing to take on formal leadership of the group even before his father collapsed in May 2014, representing Samsung on major political occasions. Lee greeted former President Park Geun-hye in June 2013, when Park visited Samsung’s semiconductor plant in Xian, China. The greeting was interpreted as confirmation that Lee w

Lee Kun-hee, chairman of South Korea’s top conglomerate, Samsung Electronics, died Sunday after being hospitalized for six years. He was 78. Born in 1942, Lee had led Samsung Group since 1987, following in the footsteps of his father, Samsung founder Lee Byung-chull. Lee Kun-hee collapsed due to a heart attack in May 2014 and remained hospitalized since then. He is survived by a son, Lee Jae-yong, and by daughters Lee Bu-jin and Lee Seo-hyun.  Samsung Electronics' press offic

Samsung Electronics Vice Chairman Lee Jae-yong will likely soon visit Japan to meet with major business partners, according to the conglomerate heir on Friday. Lee had just returned to Seoul after meeting with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi on Tuesday and visiting Samsung’s manufacturing facilities in Ho Chi Minh City on Thursday. He didn’t comment on reporters’ questions at Gimpo Airport upon arrival on his response to the Vietnamese prime minister&rsq

Samsung Electronics has collaborated with K-pop stars BTS on the opening of a pop-up store for fans at Garosugil in southern Seoul, the company said Friday. The Serif, Samsung’s flagship lifestyle TV model, is installed at the three-floor store, “BTS Pop-Up: Map of Soul,” to display music videos of the idol group. Four Serif TVs could be spotted on each floor. On the second floor of the store, Samsung has installed a 1,200-nit HDR LED display to better support the offl

LG Electronics on Thursday announced a new lineup of tailorable home appliances under the brand Objet, joining the growing market for customizable consumer electronics. The company unveiled 11 new products, including a convertible refrigerator, dishwasher, lightwave oven, water purifier, washing machine and clothes care machine. Those products under LG Objet Collection offer a number of customizable options, letting consumers choose colors, materials and arrangements of functions to make

Vietnam’s leader has asked Lee Jae-yong, the de facto leader of South Korea’s top conglomerate Samsung Electronics, to make an investment in building a semiconductor plant in the country, according to news reports by Vietnamese media on Wednesday. During a meeting held in Hanoi on Tuesday, Vietnamese Prime Minister Nguyen Xuan Phuc expressed his hope that Samsung makes an investment in Vietnam by building a chip manufacturing plant there. While visiting Seoul in November 2019

SK hynix announced Tuesday that it would acquire Intel’s NAND business for $9 billion, in a deal that will make it the world’s second-largest NAND flash memory provider. SK hynix said it has signed an agreement with Intel under which the Korean chipmaker will acquire the US tech giant’s NAND memory and storage business. The $9 billion deal includes transaction of the NAND solid-state drive business, the NAND component and wafer business and the Dalian NAND memory manufactur

Samsung Electronics Vice Chairman Lee Jae-yong on Monday flew to Hanoi to hold a meeting with Vietnamese Prime Minister to discuss possible additional investment plans in the country. The South Korean tech giant’s heir apparent is visiting the country for the first time since October in 2018. Samsung’s smartphone business chief Roh Tae-moon and display unit head Lee Dong-hoon joined Lee on the trip. Lee will meet with Prime Minister Nguyen Xuan Phuc on Tuesday. Whether the two

HMM said Sunday the company will dispatch two more container ships to support South Korean exporters that are struggling to ship out their products to foreign countries amid the protracting COVID-19 pandemic. A 5,000-twenty-foot-equivalent-unit container vessel dubbed HMM Prestige and the 4,600-TEU BMM Integral will depart from Busan on Oct. 31 for Los Angeles with a schedule to arrive on Nov. 11. The company said demand for container ships has become tighter recently as the export volume to

LG Innotek, the high-tech parts making unit of LG Group, said Wednesday the company has developed a “highly efficient” ferrite material to be used for ultra slim TVs and vehicles. Ferrite, made of iron oxide power, is used to change voltage in power modules for TVs and on board chargers in vehicles. As home appliances including TVs and electric vehicles go slimmer and lighter, the ferrite has become a viable material. LG’s ferrite can make power modules for TVs as thin as

Samsung Electronic Vice Chairman Lee Jae-yong met top executives of Dutch semiconductor equipment provider ASML, the company said Wednesday. Lee held a meeting with Peter Wennink, ASML’s chief executive officer, and Martin van den Brink, chief technology officer, in which they discussed supply and operation plans for extreme ultraviolet equipment that is needed for production of chips on 7-nanometer processes and below. They also talked about increasing cooperation on next-generation

Kim Ran-do, renowned scholar on fast-emerging trends in South Korea, has defined the year 2021 as “Cowboy Hero” as he announced 10 key words for next year that would continue to be affected by the COVID-19 pandemic. Through an online lecture live-streamed on YouTube to mark publication of his latest publication Trend Korea 2021 late Tuesday, the professor from Seoul National University created the term “Cowboy Hero” from the initial letters of 10 key phrases. “W

Samsung Electronics on Thursday announced an earnings surprise for the third quarter of this year, posting the largest operating profit in two years. The South Korean tech giant said in its preliminary earnings report that it would register 66 trillion won ($57.01 billion) in revenue and 12.3 trillion won in operating profit for the July to September period. It was a surprise, since the financial market’s profit forecasts hovered around 10 trillion won. If confirmed, the Q3 revenue

Samsung Electronics on Thursday announced an earnings surprise for the third quarter of this year, posting the largest operating profit in two years. The South Korean tech giant said in its preliminary earnings report that it would register 66 trillion won ($57.01 billion) in revenue and 12.3 trillion won in operating profit for the July to September period. It was a surprise, since the financial market’s forecasts hovered around 10 trillion won. If confirmed, the Q3 revenue will hav