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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Korea to invest $10.23 bil. by 2030 in chips, batteries, other key sectors

Finance Minister Choo Kyung-ho, right in front row, visits Samsung Electronics' production line in Pyeongtaek, Gyeonggi Province in this photo provided by the finance ministry, April 7. YonhapKorea will invest 13.5 trillion won ($10.23 billion) in key industry sectors, including semiconductors, secondary batteries and nuclear power generation, by 2030 to achieve innovative technologies and spur economic growth, the industry ministry said Monday.The government plans to conduct 40 research and development projects in 11 major industry fields, for which it will invest 6.2 trillion won by 2027 and an additional 7.3 trillion won by 2030, according to the Ministry of Trade, Industry and Energy.The 11 sectors are semiconductors, displays, secondary batteries, future mobility, key materials, advanced manufacturing, intelligent robots, aviation and defense, bio, next-generation nuclear power generation and new energy.The projects will be pushed for mainly by private companies and experts in a move to meet market demand and ensure expertise, the ministry said.For the plan, the ministry signed

Apr 10, 2023
Korea to invest $10.23 bil. by 2030 in chips, batteries, other key sectors

ANALYSIS China's Micron probe unlikely to affect Samsung, SK

U.S. President Joe Biden, right, meets with Chinese President Xi Jinping on the sidelines of the G20 leaders' summit in Bali, Indonesia, Nov. 14, 2022. Reuters-YonhapSeoul asked to serve as mediator in US-China chip contest By Kim Yoo-chulAngered by Washington's moves to limit China's access to technology to manufacture highly-advanced semiconductors, key Chinese leaders are still struggling to figure out how to apply various retaliatory measures without curbing their ambitions in the chip industry.Chinese President Xi Jinping views semiconductors, a vital material used in everything from consumer products, artificial intelligence (AI), high-performance computers to destroyers and stealth jets, as strategic assets in its continued high-profile contest with the United States, and even efforts to level up its global influence. Both the U.S. and China have no questions that semiconductors are the core center of a “technology war.”China has some ability to manage its semiconductor industry, which is home to indigenous chip manufacturers. However, a point of concern is that th

Apr 10, 2023By Kim Yoo-chul
[ANALYSIS] China's Micron probe unlikely to affect Samsung, SK

LG Energy Solution posts earnings surprise in Q1

LG Energy Solution's (LGES) factory in Cheongju, North Chungcheong Province / Courtesy of LGESBy Park Jae-hyukKorea's electric vehicle (EV) battery makers have begun to enjoy increased earnings due to the U.S. Inflation Reduction Act (IRA), which offers tax incentives for their production and sales in North America.While announcing on Friday that its first-quarter operating profit is estimated to have soared 144.6 percent year-on-year to 633.2 billion won ($480 million), LG Energy Solution (LGES) partially attributed the better-than-expected earnings to an envisioned 100.3 billion won tax credit in the U.S.“Following the implementation of the Advanced Manufacturing Production Credit rules this year, we decided to start including the anticipated tax credits in our earnings,” Korea's leading EV battery maker said in its press release.The size of its first-quarter operating profit is virtually the largest ever in the company's history.Although LGES posted 724.3 billion won in operating profit during the second quarter of 2021, this resulted from a 2 trillion won compensation

Apr 7, 2023By Park Jae-hyuk
LG Energy Solution posts earnings surprise in Q1

Samsung's chip production cut expected to hasten earnings recovery

Samsung Electronics' office building in Seoul / YonhapAnalysts express optimism for tech giant to make early turnaroundBy Park Jae-hyukSamsung Electronics is expected to enjoy a steady recovery in its earnings during the second half of this year at the latest, according to domestic securities analysts, Friday. This optimistic outlook has been attributed mainly to the tech giant's latest decision to reduce the manufacturing volume of memory chips to a “meaningful level.”While announcing on Friday that its first-quarter operating profit is estimated to have plunged 95.8 percent year-on-year to 600 billion won ($454.9 million), the semiconductor and electronics manufacturer virtually retracted its previous promise that there would be no “artificial” production cut this year.“We are lowering the production of memory chips … especially that of products with supply secured,” the conglomerate said in its explanatory notes attached to its earnings guidance.This is the first time since the global financial crisis that Samsung Electronics' operating p

Apr 7, 2023By Park Jae-hyuk
Samsung's chip production cut expected to hasten earnings recovery

Display expert wins ETRI Researcher of the Year award

Kang Chan-mo, right, a researcher of ETRI, poses with ETRI President Bang Seung-chan during an award ceremony at the research institute in Seoul, Wednesday. Kang won this year's ETRI Researcher of the Year award for his contribution to OLED research. Courtesy of ETRI By Baek Byung-yeulKang Chan-mo, a display researcher at the Electronics and Telecommunications Research Institute (ETRI), has won this year's ETRI Research of the Year award for his contribution to OLED research, the state-run IT research institute said Wednesday. ETRI said Kang, who has developed the key technology for OLED microdisplays, critical components for virtual reality and augmented reality devices, was honored with the award.To achieve a realistic metaverse system, it is essential to develop small displays that can be used for glasses and head-mounted display devices. Moreover, to achieve high-resolution screen quality in small displays, microdisplay technology with a resolution much higher t

Apr 7, 2023By Baek Byung-yeul
Display expert wins ETRI Researcher of the Year award

Maum AI vows to expand business with language model

Yoo Tae-joon, left, CEO of Maum AI, speaks during a company event at the AT Center in Seoul, Wednesday. Korea Times photo by Baek Byung-yeul By Baek Byung-yeulMaum AI, which recently changed its company name from Minds Lab, aims to expand its artificial intelligence (AI) business in Korea utilizing its large language model similar to that of ChatGPT, Yoo Tae-joon, CEO of Maum AI said during a conference in Seoul, Wednesday.The event was to introduce its vision and service platform to investors, researchers, the press and the public. “This move aims for the company to leap forward as an AI platform company,” Yoo said.The company said it provides three AI services: an AI engine-based learning service, inference services through AI models and what the company calls “AI humans,” a chatbot service that can communicate smoothly with customers.By providing AI services that have learned about specialized fields, customers in various sectors can create new AI services by com

Apr 5, 2023By Baek Byung-yeul
Maum AI vows to expand business with language model

SK hynix issues $1.7 bil. exchangeable bond to fund operations

SK hynix's plant in Icheon, Gyeonggi Province / Courtesy of SK hynixBy Baek Byung-yeulSK hynix, the world's second-largest memory chip producer, has issued exchangeable bonds to secure $1.7 billion in liquidity for the operation of its semiconductor-manufacturing business which has experienced difficulties due to sluggish chip demand, the memory chip maker said Tuesday.In a regulatory filing to the Financial Supervisory Service, SK hynix said it will issue $1.7 billion in overseas exchangeable bonds to secure operating funds. Exchangeable bonds are bonds that include the right for investors to exchange them for shares of another company held by the issuing company after a certain period of time.The bonds will be exchangeable for 20,126,911 shares held by SK hynix, which accounts for 2.8 percent of the total issued shares. The maturity date for the bonds is April 2030.The industry view was that SK hynix would secure liquidity through capital increases by issuing new shares to smoothen the operation of its business that has faced a steep downturn. But the company opted for the issuance

Apr 4, 2023By Baek Byung-yeul
SK hynix issues $1.7 bil. exchangeable bond to fund operations

Apple's expansion in Korea puts Samsung on alert

Pedestrians pass Apple Gangnam, one of the company's retail stores in southern Seoul, March 29. Apple officially opened its fifth store in the capital on March 31. YonhapBy Baek Byung-yeulApple opened its Apple Gangnam retail store near Sinnonhyeon Station in the southern Seoul on March 31, only a 15-minute walk from Samsung Electronics' Seocho headquarters. This may be seen as Apple's attempt to strengthen its presence in the country's capital, which has a high demand for premium products, according to industry officials Tuesday.“The bustling Gangnam Station area, popular with business people and young people, lacked an Apple Store, but now one has finally opened. This move can be interpreted as an attempt to appeal more to customers who prefer high-priced gadgets,” an official in the country's IT industry said on condition of anonymity. “It could be a noteworthy signal to Samsung which also aims to appeal more to the younger generation.”Apple Gangnam is Apple's fifth retail store in Seoul. The company is forecast to open its sixth retail store near Hongik Un

Apr 4, 2023By Baek Byung-yeul
Apple's expansion in Korea puts Samsung on alert

Korean companies scramble to issue guidelines for ChatGPT over data leak fears

People try the ChatGPT generative AI service during an open discussion session held at Government Complex Sejong, Feb. 13. YonhapBy Baek Byung-yeulSamsung, SK, LG, POSCO and other companies here are scrambling to make their own guidelines for using ChatGPT and other chatbot artificial intelligence (AI) services in order to prevent problems caused by the misuse of these programs, such as information leaks, according to companies and experts, Monday.Citing examples of overseas companies that are blocking the use of ChatGPT in their workplaces due to concerns about mishandling confidential information, companies here are also conducting campaign activities, informing their employees of the risks that may occur when they misuse these programs.ChatGPT is a generative AI service of the U.S. company OpenAI. After its 3.5 version was unveiled in November, many people have been using the innovative technology just for fun or to ask for help in various fields including computer software programming, translation and web searches.Samsung Electronics recently announced a message on its in-company

Apr 3, 2023By Baek Byung-yeul
Korean companies scramble to issue guidelines for ChatGPT over data leak fears

Innospace requests more gov't support for space business

Science and ICT Minister Lee Jong-ho, left, speaks with Innospace CEO Kim Soo-jong at the ministry's office in Sejong, Monday. Courtesy of Ministry of Science and ICTBy Baek Byung-yeulInnospace, a local space startup, asked the government to offer more support for the country's space industry, such as fostering experts and strengthening support for private companies, the science minister said Monday. Kim Soo-jong, CEO of Innospace had a meeting with Lee Jong-ho, minister of Science and ICT, at the ministry's office in Sejong.The science ministry said the meeting was intended to celebrate Innospace's successful test launch of its HANBIT-TLV hybrid rocket in Brazil last month, which led it to become the first private firm in Korea to succeed in a test-launch of its space launch vehicle. “Established in 2017, Innospace is a company specializing in space launch vehicles. The meeting was organized to encourage the success of Korea's first commercial small-sized space launch vehicle test in Brazil on March 1,” the ministry said.Its HANBIT-TLV is a single-stage test launch vehic

Apr 3, 2023By Baek Byung-yeul
Innospace requests more gov't support for space business
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