The Korea Times

Samsung still in talks with Texas over US chip plant

Samsung Electronics' chip plant in Austin, Texas / Courtesy of Samsung ElectronicsBy Kim Bo-eunTalks are still ongoing between Samsung Electronics and the government of Texas over a $17 billion (19 trillion won) investment to expand its semiconductor manufacturing plant in Austin, the company said Tuesday. Company officials added that the tech giant was also having discussions with local governments over two possible sites in Arizona and one in New York.Austin appears the most likely site for Samsung's additional facility in the U.S., given recent requests by the company to the local government for a tax break amounting to $800 million over a 20-year period. Samsung is pitching that the plant will create 1,800 jobs there.The request was confirmed in documents Samsung submitted to the local authority. These said construction of the facility, adding 1 square kilometer to the existing site, would begin in the latter half of the year, with production beginning in 2023. However, one of the Samsung officials said, "We are reviewing all sites with the same level of possibility. Texas is not

Mar 9, 2021By Kim Bo-eun

Samsung still in talks with Texas over US chip plant

Tech & Science

Expectations rise over LG's growth via split-off

LG Group's headquarters on Yeouido in Seoul / YonhapBy Kim Bo-eunMarket expectations have been rising over the future growth trajectory of LG Corp. as the holding company prepares for a split. The decision to separate LG affiliates by setting up a new holding entity under the leadership of LG Chairman Koo Kwang-mo's uncle Koo Bon-joon was unveiled last November. The new holding group, set to be named LX, will have under its arm: trading affiliate LG International, materials manufacturer LG Hausys, fabless chipmaker Siliconworks, chemical manufacturer MMA and logistics unit Pantos. LG said the decision to reorganize its corporate governance structure was made to strengthen its global competitiveness by beefing up the expertise of its respective businesses. Koo Bon-joonFollowing LG's announcement, LG Corp.'s share price has spiked, reaching an all-time high of 115,500 won on Jan. 21. This compares with its 74,500 won share price on Nov. 13, before the announcement. LG's stock closed at 90,400 won per share, Monday. LG attributes the rise to the restructuring of its businesses to focus

Mar 8, 2021By Kim Bo-eun

Expectations rise over LG's growth via split-off

Tech & Science

INTERVIEW 'Employee-centered management drives success'

Nepes Chairman Lee Byung-koo speaks during an interview with The Korea Times at the company's headquarters in southern Seoul, March 2. / Korea Times photo by Choi Won-sukBy Kim Bo-eunNepes, a leading firm in packaging and test services for semiconductors, have racked up a series a firsts in the parts and materials industry.It became the first local company to commercialize fan-out wafer level packaging and also became the world's first company to commercialize panel-level packaging. In addition, it is the first in the industry to mass produce neuromorphic chips used to model the human brain.Behind these achievements is Chairman Lee Byung-koo who founded the company in 1990. He attributes the results to a way of management that focuses on the hearts and minds of employees.His management philosophy is outlined in his latest book, "An Attitude of Success," which was published in English on Amazon in December.Lee says people are ultimately the drivers of a business and that businesses need to enable them to fulfill their potential by creating a culture that respects and encourages them.H

Mar 7, 2021By Kim Bo-eun

[INTERVIEW] 'Employee-centered management drives success'

Tech & Science

Is Kakao seeking to acquire eBay Korea?

By Kim Bo-eunThe looming sale of eBay Korea is drawing keen attention as a number of potential suitors, including conglomerates, private equity firms, as well as a tech firm, are known to have expressed interest.According to reports, investment banks managing eBay's sale sent out teaser letters to potential buyers last month after the company was put up for sale in January. Possible buyers being mentioned are Shinsegae and Lotte groups which operate major retail businesses, private equity firm MBK Partners and tech company Kakao. Preliminary bidding will begin March 16.The e-commerce giant's local unit is reported to have a price tag of 5 trillion won ($4.5 billion).eBay Korea currently operates the localized platforms Gmarket, Auction and G9. According to Statistics Korea, eBay accounted for 12 percent of a total 161 trillion won in e-commerce transactions in Korea last year, while generating sales of 1.3 trillion won and an operating profit of 85 billion won from commissions collected from items sold on its open market platform.The Korean unit's sales account for 11 percent of eBay

Mar 6, 2021By Kim Bo-eun

Tech & Science

Samsung, SK account for 72 percent of global DRAM sales in 4Q

Samsung Electronics' Pyeongtaek campus / Courtesy of Samsung ElectronicsBy Kim Bo-eunSamsung Electronics secured its lead in the global DRAM (dynamic random-access ram) market by accounting for 42.1 percent of total sales in the fourth quarter of 2020, according to data from market tracker Trendforce. SK hynix accounted for 29.5 percent of global DRAM sales to rank second.The top two Korean chip makers accounted for 71.6 percent of global DRAM sales.Samsung achieved 8.4 trillion won ($7.44 billion) in DRAM sales, up 3.1 percent quarter-on-quarter. SK hynix's sales reached 5.87 trillion won, up 5.6 percent from the previous quarter."Although Korean suppliers experienced a quarter-on-quarter decline in the DRAM average selling price (ASP), they were able to increase their bit shipment, indicating a recovery in client demand during this period," the report said."Samsung and SK hynix both increased their bit shipment by a wider margin than previously expected."No. 3 player Micron's revenue fell 7.2 percent quarter-on-quarter to 5.57 trillion won, due to a decline in its quarterly bit shi

Mar 5, 2021By Kim Bo-eun

Samsung, SK account for 72 percent of global DRAM sales in 4Q

Tech & Science

SK hynix vows to continue supports for workers

By Kim Bo-eunSK hynix' logo / Korea Times fileSK hynix said Wednesday it will continue supporting its employees, saying its performance assessment system strictly follows labor regulations.“All divisions came up with the changed system and assessment criteria after sufficient communication with members,” an SK hynix official said Wednesday, adding that the assessment system does not go against any labor regulations.The official added that the semiconductor affiliate of SK Group is seeking to resolve performance assessment systems with employees.The remarks came after SK hynix was placed in a challenging position with employees over performance-based pay last month. Some workers are calling for management to improve its assessment system.Some office workers affiliated with SK's union pledged to file a suit against SK hynix over the assessment system they claim works against their interests. The company has three unions ― one representing office workers and two representing manufacturing-site employees. The office workers' union, however, only represents 1,000 of a total 28

Mar 3, 2021By Kim Bo-eun

SK hynix vows to continue supports for workers

Tech & Science

Samsung unveils premium 'QLED' TV

Models present Samsung Electronics' Neo QLED 8K TV model. Courtesy of Samsung ElectronicsBy Kim Bo-eunSamsung Electronics on Wednesday showcased this year's lineup of new TVs, including the Neo QLED, MICRO LED and lifestyle TV models."These days, the home has become the main hub of our activities where various aspects of daily life interact and are layered within a multifunctioning space," Samsung Electronics Virtual Display Business President Han Jong-hee said in a virtual presentation aired Wednesday. "In these homes, TVs play a more important role than ever before."In a separate media event the same day, Samsung showcased the Neo QLED, which has a New Quantum Processor and new Quantum Mini LEDs. The New Quantum Processor uses artificial intelligence technology that optimizes picture quality. Quantum Mini LEDs, which are 1/40 the size of conventional LEDs, enable ultra-fine light control. This image technology delivers both brighter white tones and darker pitch black tones unseen on other models for astounding contrast.A guide points to a Neo QLED screen showing a person exercising

Mar 3, 2021By Kim Bo-eun

Tech & Science

Naver takes on Japan market via partnership with Yahoo

Naver founder and Global Investment Officer Lee Hae-jin / Courtesy of Naver By Kim Bo-eun While it is not Naver's first time to launch portal services in Japan, the situation appears different this time due to it having partnered with Yahoo, which had previously been its competitor there.Naver is now equipped with a solid market share in both search engine and mobile messenger services via its Japanese subsidiary Line and is seeking to enhance competency with artificial intelligence capabilities.Naver and Yahoo Japan's parent company SoftBank launched the new entity A Holdings, Monday. Naver founder and Global Investment Officer Lee Hae-jin has assumed the position as co-head of A Holdings, alongside SoftBank CEO Ken Miyauchi. A Holdings is the holding company of Z Holdings (ZHD) Group, which wholly owns Naver's subsidiary Line and Yahoo Japan.ZHD Group said it will focus on businesses covering search engine, ads, mobile messenger-based commerce as well as reservati

Mar 2, 2021By Kim Bo-eun

Naver takes on Japan market via partnership with Yahoo

Tech & Science

SKT, Uber unveil joint venture 'UT'

A mobile phone user logs into Uber's app with an Uber Taxi in the background. Courtesy of UberBy Kim Bo-eunA joint venture between SK Telecom's mobility subsidiary and Uber has come under the spotlight after the name of the entity was unveiled as "UT" as it nears its launch on April 1.The new corporate body completed its registration last week. This comes after the antitrust watchdog approved the launch of the joint entity on Feb. 10.Uber's taxi service here will be transferred to UT, as will the same service of T Map Mobility, SK Telecom's new mobility unit.According to filings, UT's business will cover mobile-based ride-hailing services for taxis and chauffeur services. The new firm is also expected to make advances into the drone taxi business, given its stated plans to provide urban air mobility vehicles and a platform for related services.The filings also show T Map Mobility CEO Lee Jong-ho as the only board member of UT. Lee formerly headed SK Telecom's mobility business before it was spun off as a separate subsidiary in December. Uber, which invested $100 million into the new

Mar 2, 2021By Kim Bo-eun

Companies

Conglomerates rushing to appoint female outside directors

gettyimagesbankBy Kim Bo-eunMajor conglomerates are scrambling to appoint female board members, before a revised capital market act goes into effect next year requiring large companies to have at least one woman on their boards.Given the lack of female senior executives at most companies, they are seeking to comply with the law by appointing outside board members.“We have had calls asking for data on female professionals,” said Kim Sang-kyung, who heads the Korea Network of Women in Finance (KNWF). The organization seeks to foster female leaders in the finance sector and Kim has spearheaded movements for better female representation in the private sector.“Professors have served in outside director positions in many cases, but these days there is a high preference for professionals who have worked for corporations and also in the finance sector,” she said.The revisions to the capital market act state that companies with assets exceeding 2 trillion won cannot have their boards comprised of a single gender.According to corporate tracker CEOScore, at 147 companies

Mar 1, 2021By Kim Bo-eun

Kim Bo-eun

Read more

Samsung still in talks with Texas over US chip plant

Expectations rise over LG's growth via split-off

INTERVIEW 'Employee-centered management drives success'

Is Kakao seeking to acquire eBay Korea?

Samsung, SK account for 72 percent of global DRAM sales in 4Q

SK hynix vows to continue supports for workers

Samsung unveils premium 'QLED' TV

Naver takes on Japan market via partnership with Yahoo

SKT, Uber unveil joint venture 'UT'

Conglomerates rushing to appoint female outside directors

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