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Top court upholds antitrust watchdog's $13.8 mil. fine on Broadcom

Korea's top court has upheld the country's antitrust watchdog's decision to impose an 18.6 billion won ($13.8 million) fine on U.S. chipmaker Broadcom Inc. for unfair business practices against Samsung Electronics, sources said Monday. According to the sources, the Supreme Court on Tuesday upheld a lower court ruling against Broadcom in a lawsuit the U.S. company filed against the Fair Trade Commission (FTC). In 2023, the FTC fined Broadcom for using its superior position to force Samsung to sign a long-term agreement in 2020. According to the watchdog, Broadcom compelled Samsung to purchase at least $760 million worth of its smartphone parts annually from 2021 to 2023 and required the South Korean tech giant to compensate for any shortfall if its purchases fell below that amount. Broadcom filed a lawsuit challenging the FTC's decision in November 2023. In May, however, the Seoul High Court ruled against Broadcom, finding the fine justified. An FTC decision, when challenged, is reviewed by the Seoul High Court, whose ruling can be appealed to the Supreme Court.

5h agoBy Yonhap
Top court upholds antitrust watchdog's $13.8 mil. fine on Broadcom

Finance minister, Hyundai Motor chief discuss EV policies: sources

Korea's finance minister met with the head of Hyundai Motor Group to discuss ways to develop the country's electric vehicle (EV) industry, along with government tax incentives for the sector, sources said Monday. Finance Minister Lee Hyoung-il met with Hyundai Motor Group Executive Chair Euisun Chung for around 20 minutes ahead of a roundtable held on the day at the company's research center in Hwaseong, south of Seoul, according to the sources. During the meeting, the two also exchanged views on applying tax cuts for EVs produced in the country, the sources said. The finance ministry said Lee was also briefed by Hyundai Motor Group on its plans to develop next-generation EVs and autonomous vehicles. The roundtable, attended by representatives from other automakers, was part of the government's efforts to gather industry views on EVs and autonomous driving technology. "EVs are the next battleground for the country to revive its growth potential," Lee said during the roundtable, stressing that the country needs to secure technologies in line with those of advanced nations within two or thr

5h agoBy Yonhap
Finance minister, Hyundai Motor chief discuss EV policies: sources

LS Cable, LS Marine Solution sign deal on Taean offshore wind cable project

LS Cable & System and its affiliate LS Marine Solution have signed a deal with the developer of a 504-megawatt offshore wind farm off Korea’s west coast to supply and install its subsea cables, the companies said Monday. The two companies signed a capacity reservation agreement (CRA) with Taean Wind Power. A CRA reserves cable production capacity and installation vessel schedules before a final contract is signed. The agreement follows the developer’s selection of the two companies as preferred bidders in 2024. They are now reviewing cable specifications and the scope of installation work through engineering and site surveys. They plan to agree on the contract value and other details and sign a final contract within the year. The Taean offshore wind project is being jointly developed by state-run Korea Western Power, Singapore-based renewable energy company Vena Energy and Danish renewable energy investor Copenhagen Infrastructure Partners. The wind farm will be built off Taean County in South Chungcheong Province, about 150 kilometers southwest of Seoul, and is scheduled for comple

11h agoBy Jhoo Dong-chan
LS Cable, LS Marine Solution sign deal on Taean offshore wind cable project

Kia's Oct. sales rise 10% on strong SUV demand

Kia said Monday its vehicle sales rose 10.3 percent from a year earlier in October, driven by strong overseas demand for its sport utility vehicle (SUV) models. Kia sold a total of 291,219 vehicles last month, up from 264,017 units a year earlier, the company said in a press release. The figure includes sales of military vehicles. Robust demand for the Sportage, Sorento and Seltos SUVs boosted the monthly sales, the carmaker said. Domestic sales rose 27.5 percent on-year to 51,007 units, while overseas sales climbed 7.2 percent to 239,308 units, it said. Military vehicle sales gained 12.9 percent on-year to 904 units. Looking ahead, Kia said it will seek to maintain sales growth in the fourth quarter by launching gasoline-hybrid models in the United States and electrified cars in Europe.

11h agoBy Yonhap
Kia's Oct. sales rise 10% on strong SUV demand

DL E&C to build 727-unit apartment complex in Naepo New Town

DL E&C is set to build a 727-unit apartment complex in Naepo New Town, a planned administrative city in South Chungcheong Province, amid ongoing development of the area's residential, educational and industrial infrastructure. The project, named e-Pyeonhansesang Naepo Edu Platz, will comprise nine buildings, rising up to 25 floors above two basement levels, with units ranging from 84 to 119 square meters. Of the total units, 605 will be 84-square-meter apartments offered through a public-private housing program, while the remaining 122 will be privately sold 119-square-meter units. The complex, scheduled for occupancy in August 2028, is located near the center of Naepo New Town, with elementary, middle and high schools within walking distance. Nearby amenities include the town's central commercial district, medical facilities, banks and government offices, including the South Chungcheong provincial government, police station and education office. The town's largest green space, Hongye Park, is also accessible on foot. Several local bus routes run through the area, with an intercity bus te

11h agoBy Lee Gyu-lee
DL E&C to build 727-unit apartment complex in Naepo New Town

Samsung Electro-Mechanics eyes growth opportunities amid AI boom

The chief of Samsung Electro-Mechanics on Monday highlighted business opportunities in the artificial intelligence (AI) era, saying the market has significant room for growth as the industry expands. "The current AI industry is just January 1," Chief Executive Officer (CEO) Chang Duck-hyun said at a ceremony marking the 53rd anniversary of the company's founding, suggesting that the industry remains in its earliest stages despite concerns over its long-term profitability. The electronic components unit of Samsung Electronics has been among the beneficiaries of the AI boom, signing a series of long-term supply agreements this year alone to provide multilayer ceramic capacitors (MLCCs) and package substrates for AI servers. "With the expansion of AI servers and data centers driving a sharp increase in demand for key components and technological sophistication, unprecedented growth opportunities are emerging across our core businesses, including MLCCs and package substrates," he said. The company has signed a total of eight long-term supply agreements announced this year worth a combined ov

11h agoBy Yonhap
Samsung Electro-Mechanics eyes growth opportunities amid AI boom

Doubts on AI investment to test Korean economy

Growing concerns over the sustainability of the global artificial intelligence (AI) investment boom are translating into mounting financing pressures on major tech companies, raising fears that a slowdown in AI spending could deal an outsized blow to Korea's semiconductor-dependent economy. Tech giants such as Google, Meta and Amazon are heavily relying on debt to finance their massive capital expenditures, as borrowing costs continue to rise. This also adds pressure to the fundraising plans of AI developers such as OpenAI and Anthropic. This could eventually slow the pace of AI investment and weigh on memory chip prices, potentially sending shock waves through Korea's broader economy, which heavily relies on corporate tax revenue from Samsung Electronics and SK hynix. Google's parent company Alphabet disclosed on Wednesday that its capital expenditures amounted to 121.4 percent of the cash generated from operating activities, meaning the company spent more on investments, mostly in AI infrastructure, than it generated from its operations. Its free cash flow (FCF) remained negative for t

11h agoBy Nam Hyun-woo
Doubts on AI investment to test Korean economy

Samsung SDS breaks ground on AI data center in Gumi

Samsung SDS has begun construction of an artificial intelligence (AI) data center in Gumi, North Gyeongsang Province, marking the first step in Samsung Group's 60 trillion won ($44.6 billion) investment plan for the Yeongnam region. The company said Monday that the facility will be built on a 46,000-square-meter site in Gongdan-dong, with an initial power capacity of 60 megawatts, which can be expanded to 120 MW to meet growing demand for AI computing infrastructure. Construction began after Gumi City approved the project in late August, with completion targeted for the end of 2028. The project is part of Samsung's plan, announced in July, to turn the Yeongnam region into a global hub for physical AI innovation. The investment roadmap covers humanoid robots and AI data centers in Gumi, all-solid-state batteries in Ulsan, advanced packaging substrates and multilayer ceramic capacitors (MLCCs) for AI servers in Busan and high-value-added vessels in Geoje, South Gyeongsang Province. Samsung SDS said the facility will provide critical infrastructure for AI-driven manufacturing and robotics a

11h agoBy Nam Hyun-woo
Samsung SDS breaks ground on AI data center in Gumi

LG Electronics CEO eyes 'caregiving' as next frontier for AI-powered homes

The chief of LG Electronics said on Monday that "caregiving" could become the next frontier for artificial intelligence (AI)-powered services. In a post on his LinkedIn account, Chief Executive Officer (CEO) Lyu Jae-cheol outlined the company's vision for AI-powered homes, saying they should go beyond simply adding AI features to connected devices. "This is the direction envisioned by LG Electronics' 'Zero-Labor Home' vision, which aims to free people from household chores," Lyu said. The Korean home appliance maker has been spearheading efforts to transform the way people manage their homes through its AI-powered appliance lineup, ranging from refrigerators to air purifiers. Rather than simply adding AI functions to connected devices, the goal should be to fundamentally change the way homes operate, he said. Lyu emphasized, however, that AI-powered homes should reduce the burden of repetitive household chores while leaving important decisions in the hands of users.

12h agoBy Yonhap
LG Electronics CEO eyes 'caregiving' as next frontier for AI-powered homes

Incheon airport's network fiasco raises questions over crisis readiness

Incheon International Airport’s latest check-in disruption has exposed its vulnerability to failures at external network providers, prompting calls for stronger contingency systems. The outage began around 4:30 a.m. Friday, when connectivity problems hit the global network of U.S.-based aviation communications provider ARINC, disrupting check-in operations at 13 airlines across both terminals. It delayed 38 flights and left around 1,200 passengers waiting at the airport, according to Incheon International Airport Corp. (IIAC). By the afternoon, ticketing operations at China Southern Airlines, China Eastern Airlines and Air China had nearly ground to a halt, forcing them to switch to manual procedures. The latest network fiasco clearly shows a structural vulnerability in airport operations. International airports and airlines rely on global IT providers to exchange passenger and reservation information, coordinate check-in procedures and issue boarding passes. Such platforms allow carriers to operate across multiple airports without building entirely separate systems at each location. Ho

12h agoBy Lee Min-hyung
Incheon airport's network fiasco raises questions over crisis readiness
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