Business - The Korea Times

Samsung unveils new Galaxy S23 smartphone

Roh Tae-moon, president and head of MX Business at Samsung Electronics, poses with the company's Galaxy S23 smartphones during a press conference at Masonic Auditorium in San Francisco, Thursday. Courtesy of Samsung ElectronicsS23 offers improved camera, gaming experiencesBy Baek Byung-yeulSamsung Electronics unveiled the Galaxy S23 smartphone, Thursday, which offers enhanced camera functions and game playing experiences, reflecting the tech giant's intention to boost its presence in the premium smartphone market.The company held the Galaxy Unpacked event in San Francisco to introduce this year's flagship smartphones. It said the Galaxy S23 is available in three different variants ― a 6.1-inch screen Galaxy S23, a 6.6-inch Galaxy S23 Plus and the 6.8-inch Galaxy S23 Ultra. The largest model comes with the S Pen stylus.“I can say that the Galaxy S23 series redefines the standard of premium smartphone performance and gives consumers confidence that it is the best Galaxy S series in both performance and quality,” Roh Tae-moon, president and head of MX Business at Samsung, sa

Feb 2, 2023By Baek Byung-yeul

Samsung unveils new Galaxy S23 smartphone

President pledges support for Korean chipmakers to overcome crisis

President Yoon Suk Yeol and SK Group Chairman Chey Tae-won, right, inspect SK Siltron's silicon wafer facility in Gumi, North Gyeongsang Province, Wednesday. Yoon's visit came as the country's major chipmakers suffered disappointing earnings in the fourth quarter of last year amid a global downturn in the semiconductor industry. YonhapYoon visits' ex-President Park's birthplace to appeal conservativesBy Nam Hyun-wooPresident Yoon Suk Yeol said Wednesday the government will make all-out efforts to help Korean chipmakers overcome the current down cycle, citing semiconductors as a “national security asset that underpins the economy.”“Semiconductors are the backbone of our economy and a national security asset,” Yoon said during his visit to an SK Siltron plant in Gumi, North Gyeongsang Province. “Although there are concerns over the semiconductor market, the government and companies should overcome this crisis together.”Yoon attended a signing ceremony of a memorandum of understanding (MOU) between SK Siltron and North Gyeongsang Province. SK Siltron

Feb 1, 2023By Nam Hyun-woo

President pledges support for Korean chipmakers to overcome crisis

SK hynix reaffirms 50% cut in investments after $1.4 billion loss in Q4 2022

SK hynix reaffirms 50% cut in investments after $1.4 billion loss in Q4 2022

Chipmaker suffers quarterly loss for first time in 10 yearsBy Park Jae-hyukSK hynix suffered its first quarterly operating loss in 10 years, reiterating that the size of its annual investment will be halved this year compared to last year. During Wednesday's conference call on its fourth-quarter earnings, the chipmaker attributed its performance to falling global memory chip demand and declining product prices leading to its quarterly operating loss of 1.7 trillion won ($1.4 billion).This is the first time that the company operated at a loss since it posted a 24 billion won operating loss during the third quarter of 2012.Citing growing uncertainties in its business environment, SK hynix reaffirmed its plan to cut investments this year by more than 50 percent from last year's 19 trillion won, as it had said during a conference call last October on its third-quarter earnings. Its conservative stance contrasts with Samsung Electronics which ruled out the possibility of reducing its chip output this year, despite

Feb 1, 2023By Park Jae-hyuk

SK hynix reaffirms 50% cut in investments after $1.4 billion loss in Q4 2022

President pledges support for Korean chipmakers to overcome crisis

Space industry takes off in South Jeolla Province

KSLV-2, also known as Nuri, takes off from Naru Space Center in Goheung County in South Jeolla Province, June 21, 2022. Courtesy of Korea Aerospace Research Institute Gov't eyes Korea's southern region as new 'space belt'By Ko Dong-hwan June 21, 2022, marks the turning point for Korea's space industry. The KSLV-2, better known as the Nuri, is a Korean-made three-stage launch vehicle that shot through the sky of Goheung County in South Jeolla Province and successfully released a test satellite into a 700-kilometer orbit. Following the failed first attempt in October the previous year, the accomplishment made Korea the world's seventh country to possess functioning space launch vehicle technology capable of carrying a 1 kilogram or heavier satellite ― following the U.S., Russia, the European Union, India, Japan and China. With the historic episode complete, South Jeolla Province on Jan. 22 launched another mission. The provincial government declared it will become the

Feb 1, 2023By Ko Dong-hwan

Space industry takes off in South Jeolla Province

POSCO Chemical signs $33 bil. deal to supply cathode materials to Samsung SDI

Choi Yoon-ho, left, CEO of Samsung SDI, poses with Kim Joon-hyeong, CEO of POSCO Chemical, during the signing ceremony for cathodes supply, Monday. Courtesy of POSCO ChemicalPOSCO Chemical said Monday it has signed a largest-ever long-term contract to supply a key component used in electric vehicle (EV) battery cells to Samsung SDI. POSCO Chemical will supply high-nickel cathodes, consisting of lithium, nickel, cobalt and aluminum, to Samsung SDI, for a 10-year period starting this year for 40 trillion won ($32.5 billion), the chemical unit of steel giant POSCO Holdings said.Cathodes are a core component that determine the power of EV battery cells. They account for more than 40 percent of a battery's production cost. POSCO Chemical has been expanding its battery materials business since its advance into the sector in 2012. It touts itself as one of a few companies capable of producing both cathodes and anodes for EV batteries. The latest agreement follows the 13.7 trillion-won cathodes supply deal POSCO Chemical clinched in July last year with Ultium Cells, a joint venture between L

Jan 30, 2023

POSCO Chemical signs $33 bil. deal to supply cathode materials to Samsung SDI

Hyundai Motor unveils mobility's future as mobile living space

A concept image, released by Hyundai Motor Group, Monday shows the automotive group's vehicle attached to an entrance of a building with the vehicle serving as an integral part of the living space. Courtesy of Hyundai Motor GroupBy Lee Kyung-minHyundai Motor Group unveiled an animated video called “Mobile Living Space,” which it says will redefine future mobility as an organic connection mechanism between vehicles and buildings.The four-minute clip shows a mobility vehicle that is attached to a residential building as an extension of the home space. An animated character Logan goes into what initially seemed like a small room that has a desk and a chair. It then detaches from a building and self-drives to an office. The attached or “docked” vehicle serves as an integral part of the living space, Hyundai said, enhancing the living environment.The space can function as an air conditioner, or an entertainment room where audio and video functions of users' cell phones or home smart devices can be mirrored on a larger screen and speakers. It can even provide power

Jan 30, 2023By Lee Kyung-min

Hyundai Motor unveils mobility's future as mobile living space

LG Innotek CEO vows to become leader in FC-BGA substrates

LG Innotek CEO and President Jeong Cheol-dong, fourth from right, poses with company officials during an equipment bring-in ceremony at its factory in Gumi, North Gyeongsang Province, in this photo released by the company, Monday. Courtesy of LG InnotekBy Baek Byung-yeulJeong Cheol-dong, CEO and president of LG Innotek, vowed that his company will become a global leader in a next-generation semiconductor packaging substrate known as flip chip ball grid array (FC-BGA), according to the IT parts arm of LG Group, Monday.LG Innotek said it held a ceremony recently at its FC-BGA factory in Gumi, North Gyeongsang Province, to commemorate bringing in equipment. Last June, the company acquired the Gumi 4 factory and has been building a manufacturing line to produce FC-BGA substrates.The new factory will be able to start mass-producing FC-BGA substrates in the second half of this year, the company added.“The FC-BGA substrate is a business that LG Innotek can become a top supplier in as we have led the substrate materials market with the industry's top technology and productivity,”

Jan 30, 2023By Baek Byung-yeul

LG Innotek CEO vows to become leader in FC-BGA substrates

ANALYSIS Pandemic awakens demand for data-driven automation

China-made Tesla Model 3s are seen during a delivery event at its factory in Shanghai, Jan. 7, 2020. Reuters-YonhapSupply chain disruptions from COVID-19 drive Samsung, LGES, Hyundai Motor toward 'lighthouse manufacturing'By Kim Yoo-chulThe COVID-19 pandemic presented an opportunity for manufacturers in global supply chain systems to embrace significant challenges. Korean conglomerates like Samsung, LG and SK also had to adjust to the crisis by revamping their supply chains and embracing more innovative manufacturing processes.Steps taken by advanced and emerging economies to control their coronavirus infection spikes resulted in national lockdowns and temporary halts in the flow of raw materials and subsidiary products, disrupting manufacturing processes.The pandemic itself didn't necessarily bring about any new challenges in supply chains; in some business areas it merely shone a light on earlier unseen vulnerabilities, including increased inventory levels due to closures and resultant profit losses. Executives at Korea's leading exporters noted that the pandemic accelerated the id

Jan 30, 2023By Kim Yoo-chul

[ANALYSIS] Pandemic awakens demand for data-driven automation

Samsung Display ups patent management to contain Chinese rivals

Samsung Display showcases OLEDs for smartphones that have peak brightness greater than 2,000 nits at this year's Consumer Electronics Show in Las Vegas, Jan. 5. Courtesy of Samsung DisplayBy Baek Byung-yeulSamsung Display is increasing its efforts to protect its patented organic light-emitting diode (OLED) technologies, aiming to contain its Chinese rivals at a time when OLEDs are increasingly used not only in smartphones but also in other devices such as tablet PCs and laptops, according to industry sources, Thursday.The display arm of Samsung Electronics recently filed lawsuits with the U.S. International Trade Commission (USITC) against smartphone parts wholesale suppliers in the United States such as Apt-Ability, MobileSentrix, Captain Mobile Parts and DFW Imports, claiming that they have supplied phone repair shops with replacement displays for Samsung's Galaxy phones and Apple's iPhones.Samsung Display requested the U.S. agency to investigate these suppliers and ban the wholesalers from importing displays that allegedly infringe its patented technologies, such as Diamond Pixel

Jan 26, 2023By Baek Byung-yeul

Samsung Display ups patent management to contain Chinese rivals

Samsung unveils energy-efficient air conditioners, purifiers

Samsung Electronics' Bespoke air conditioners and air purifiers are displayed at the company's R&D center in Seocho-gu, Seoul, Thursday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulSamsung Electronics unveiled new air conditioners and air purifiers of its 2023 Bespoke lineup that consume less energy and provide more customized features using artificial intelligence (AI) technology, the company said Thursday. Ranging from the highest-priced Bespoke WindFree Air Conditioner Gallery to the standard model Bespoke Slim, Samsung emphasized that every floor-standing air conditioner supports a wind-free feature, a trademarked cooling system that provides a comfortable indoor climate without direct air flow.Also, the air conditioners have improved energy consumption to meet the growing demand for energy-efficient home appliances. When using the AI-based energy-saving mode, the latest air conditioners consume 30 percent less energy compared to previous models.The Bespoke WindFree Air Conditioner Galley models earned grades of one or two for energy consumption efficiency, the comp