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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.

Parliamentary committee passes bill on expanding tax incentives for chipmakers

Lawmakers attend a plenary meeting of the parliamentary strategy and finance committee at the National Assembly, March 22. YonhapThe parliamentary strategy and finance committee Wednesday passed a bill aimed at supporting the semiconductor industry by giving bigger tax incentives to chipmakers.The revision to the Act on Restriction of Special Taxation, nicknamed the K-Chips Act, centers on expanding the tax credit rate for companies that make facility investments in national strategic industries, including semiconductors, secondary batteries and future cars.Under the bill, the tax credit rate for conglomerates will rise to 15 percent from the current 8 percent, while the rate for small and medium-sized businesses will increase to 25 percent from 16 percent.The revision bill is set to be put to a vote at a parliamentary plenary session scheduled for March 30. (Yonhap)

Mar 22, 2023
Parliamentary committee passes bill on expanding tax incentives for chipmakers

Chips Act incentives limit expansion of semiconductor manufacturing capacity in China by 5%

U.S. Secretary of Commerce Gina Raimondo listens as U.S. President Joe Biden speaks virtually during a meeting with CEOs and labor leaders regarding the Chips Act, in the South Court Auditorium of the Eisenhower Executive Office Building, next to the House, in Washington, D.C. in this July 25, 2022 file photo. AFP-YonhapThe U.S. CHIPS and Science Act will limit to 5 percent the expansion of semiconductor manufacturing capacity in foreign countries of concern for companies that receive funds under the new act, the U.S. Department of Commerce has announced.The proposed regulations provide some relief to South Korean manufacturers, namely Samsung Electronics and SK hynix that currently have manufacturing facilities in China."The statute prohibits significant transactions involving the material expansion of semiconductor manufacturing capacity for leading-edge and advanced facilities in foreign countries of concern for 10 years from the date of award to stop recipients from constructing new or expanding existing leading-edge and advanced technology facilities in those countries," said a

Mar 22, 2023
Chips Act incentives limit expansion of semiconductor manufacturing capacity in China by 5%

Korea, Israel to jointly invest $10 mln in smart car tech development

gettyimagesbankSouth Korea and Israel agreed Tuesday to jointly invest $10 million in the development of key technologies for the smart mobility sector over the next three years, Seoul's industry ministry said.The two nations signed a memorandum of understanding (MOU) that calls for the joint push for research and development programs in the smart mobility field, including autonomous driving, electric vehicles and shipbuilding, with the $10 million fund over the next three years, according to the Ministry of Trade, Industry and Energy.The signing ceremony took place during the bilateral "innovation day" forum held in Tel Aviv on the day, which was organized by the ministry and the Israeli Innovation Authority meant to discuss cooperation on advanced technologies and explore joint business chances, it added."The two nations can become global leaders in the sector together, as South Korea is the world's mobility powerhouse and Israel has more than 500 research centers and startup firms in the future vehicles field," ministry official Lee Min-woo said.South Korea and Israel signed an ag

Mar 21, 2023
Korea, Israel to jointly invest $10 mln in smart car tech development

Kakao criticized for half-baked AI chatbot

Kakao's artificial intelligence based chatbot service, ddmm / Courtesy of KakaoBy Park Jae-hyukKakao users expressed their disappointment with ddmm, Kakao's new artificial intelligence (AI)-based chatbot service, which became unavailable Monday, just a day after the launch of its beta service.Although the Korean IT firm promised to resume the service soon, incorrect answers made by the chatbot caused concerns that the company may lose its ground amid the intensifying global competition to dominate the generative AI market.When Kakao decided abruptly on Monday afternoon to suspend its chatbot service similar to OpenAI's ChatGPT, it cited the unexpectedly high number of ddmm users, which surpassed 12,000.“There will be a further announcement on our plan to resume the service,” Kakao said.Its decision, however, has been attributed mainly to growing complaints from users, who compared ddmm negatively with ChatGPT.“As I heard that ddmm can draw pictures, I asked it to draw some pictures,” one ddmm user said. “However, it just shared the URLs of websites relat

Mar 21, 2023By Park Jae-hyuk
Kakao criticized for half-baked AI chatbot

Samsung seeks to overcome downturn with energy-efficient home appliances

Samsung Electronics Vice Chairman Han Jong-hee speaks during a press conference at Community House Masil in Seoul, Tuesday. Courtesy of Samsung ElectronicsRobotics business mentioned as tech giant's new growth engineBy Park Jae-hyukSamsung Electronics on Tuesday unveiled the lineup of its new range of energy efficient Bespoke home appliances, in a move to attract Korean consumers and satisfy strict environmental regulations in Europe and elsewhere. The tech giant said it will improve its profitability this year with upgraded products equipped with artificial intelligence (AI) technology.“What consumers are most interested in recently are energy-related functions. So we will overcome the difficulties this year, through our eco-friendly products,” Samsung Electronics Vice Chairman Han Jong-hee said at a press conference.Samsung Electronics Executive Vice President Choi Ick-soo also said that the company's energy-efficient products have helped generate growth in sales, especially in the European market.In the aftermath of the global economic recession, Samsung Electronics su

Mar 21, 2023By Park Jae-hyuk
Samsung seeks to overcome downturn with energy-efficient home appliances

Auto exports hit record high in Feb. on high demand for eco-friendly cars

This Nov. 30, 2022 file photo shows cars waiting to be shipped at Hyundai Motor's factory in the city of Ulsan, 307 km southeast of Seoul. YonhapKorea's car exports jumped nearly 50 percent in February on-year to reach an all-time high on the back of solid demand for eco-friendly cars, data showed Monday.The value of outbound shipments of automobiles came to US$5.59 billion last month, up 47.1 percent from a year earlier, according to the data from the Ministry of Trade, Industry and Energy.It is the highest monthly figure, with the previous record being set in December last year when exports stood at $5.42 billion.In terms of volume, exports surged 34.8 percent on-year to 222,934 vehicles, the data showed.By region, car exports to North America surged 65.7 percent to $2.74 billion, and those to the European Union rose 35.3 percent to $855 million. Shipments to Middle Eastern nations also reported a 47.8 percent growth to $502 million, and those to Asia spiked 81.2 percent to $455 million.Strong demand for eco-friendly vehicles led the overall brisk car sales.The export value of eco-

Mar 20, 2023
Auto exports hit record high in Feb. on high demand for eco-friendly cars

Korean startup Innospace launches test launch vehicle HANBIT-TLV

This undated photo provided by Innospace shows HANBIT-TLV, its suborbital test launch vehicle, erected on the launch pad at the Alcantara Space Center in northern Brazil. YonhapInnospace, a Korean space startup, said Monday its suborbital test launch vehicle, HANBIT-TLV, has been launched.The 8.4-ton thrust single stage hybrid rocket was fired from the Alcantara Space Center in northern Brazil at 2:52 p.m. Sunday (local time), or 2:52 a.m. Monday (Korean time), according to the company."We are now verifying the flight performance of the engine and its payloads," Innospace said in a statement. "We will announce the final result of the launch later."Innospace had attempted to launch HANBIT-TLV since December last year but had postponed it several times due to weather conditions and mechanical errors.The HANBIT-TLV, the first civilian small satellite launcher in Korea, is a test project to validate the first stage engine of HANBIT-Nano, a commercial rocket for small satellites capable of carrying a 50-kilogram payload.Last year, Innospace signed an agreement with the Brazilian Departmen

Mar 20, 2023
Korean startup Innospace launches test launch vehicle HANBIT-TLV

Korea sees EU's new acts on critical raw materials, net-zero goals as 'not discriminatory'

European Commissioner for Internal Market Thierry Breton holds up raw materials during a media conference after the weekly College of Commissioners meeting at EU headquarters in Brussels, March 16. AP-YonhapThe latest acts announced by the European Union on critical raw materials and net-zero goals do not contain discriminatory clauses against foreign companies, unlike the United States' Inflation Reduction Act (IRA), Korea's industry ministry said Friday. On Thursday, the EU proposed the European Critical Raw Materials Act and the Net-Zero Industry Act with the goal to ensure stable supply chains of key industry materials, which are essential for renewable energy development and other major industry sectors, by reducing dependence on China and to boost its manufacturing of clean technologies for green growth."Unlike the U.S. IRA, the Critical Raw Materials Act does not include discriminatory clauses against foreign companies or requirements regarding the usage of minerals from certain regions. The net-zero act is also expected to apply to both EU and non-European firms," the ministr

Mar 17, 2023
Korea sees EU's new acts on critical raw materials, net-zero goals as 'not discriminatory'

Samsung Display launches service to identify its OLED screens on phones

Samsung Display introduces its OLED Finder service during the Mobile World Congress event in Barcelona from Feb. 27 to March 2. The display maker said Thursday that it launched the service to help customers check whether they are using a device equipped with the company's quality OLED display. Courtesy of Samsung DisplayBy Baek Byung-yeulSamsung Display launched a service that helps users to find out whether their smartphones are equipped with the company's organic light-emitting display (OLED) screens. Called OLED Finder, the service is part of the display maker's efforts to confirm that consumers are using its products, the company said on Thursday.The company said it launched the service at a time when more smartphones are increasingly adopting OLED displays. Through the website: oledera.samsungdisplay.com, users can find out whether their smartphones are equipped with Samsung's OLED displays when choosing their devices' brand and model names.Currently, the service can verify whether Samsung Display's OLED is installed in around 700 smartphone models from eight brands, such as Sam

Mar 16, 2023By Baek Byung-yeul
Samsung Display launches service to identify its OLED screens on phones

KAIST develops ultra-fast PIM chip for AI service

A demonstration using DynaPlasia PIM semiconductor, developed by a research team at Korea Advanced Institute of Science and Technology (KAIST), is shown in this photo, Tuesday. Courtesy of KAISTBy Baek Byung-yeulA research team at Korea Advanced Institute of Science and Technology (KAIST) developed a processing-in-memory (PIM) chip that added an arithmetic unit for the first time in the industry, which could be utilized as a memory chip for artificial intelligence (AI) services that require high-performance data processing, the Ministry of Science and ICT said Tuesday.The research team, led by Yoo Hoi-jun, ICT endowed chair professor at KAIST, said its PIM chip called DynaPlasia, equipped with processors that perform calculations, has a data processing speed 15 times faster than existing PIM chips and consumes less power.PIM is the latest memory chip that combines processors with memory functions. DRAM-based PIMs have already been introduced by companies such as Samsung Electronics and SK Hynix, but their products are digital DRAM-PIM that place software-implemented processors outsid

Mar 14, 2023By Baek Byung-yeul
KAIST develops ultra-fast PIM chip for AI service
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