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  • Tech & Science

    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm

    Samsung Electro-Mechanics will supply multilayer ceramic capacitors (MLCCs) for artificial intelligence (AI) servers to a U.S. Big Tech firm, signing a $294 million (454 billion won) contract. The company said in a regulatory filing Tuesday that it has signed a one-year supply deal that will begin on Jan. 1 next year. The company did not identify the customer, but sources said it is a U.S. cloud service provider. The deal accounts for approximately 9 percent of the component division's 2025 revenue of 5.2 trillion won. MLCC is a component that stabilizes power for semiconductors and other electronic devices. As power fluctuations in servers can directly affect performance, MLCCs have become increasingly important in AI server environments. AI server applications require high-performance MLCCs that can withstand the harsh operating conditions created by intensive computing workloads, such as high heat and greater stress for warpage. AI servers contain more than 10 times as many MLCCs as conventional servers. A typical AI graphics processing unit is equipped with more than 20,000 MLCCs, mea

    2 MIN READBy Nam Hyun-woo
    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm
  • Companies

    Samsung, SK chip investment timelines leave room for adjustment

    4 MIN READBy Nam Hyun-woo
    Samsung, SK chip investment timelines leave room for adjustment
  • Banking & Finance

    KakaoBank lands 4 papers at leading AI conferences

    2 MIN READBy Lee Hyo-jin
    KakaoBank lands 4 papers at leading AI conferences
  • Companies

    LG Electronics to establish control tower for robotics business

    2 MIN READBy Nam Hyun-woo
    LG Electronics to establish control tower for robotics business
  • Companies

    Incheon airport operator to halve employee parking permits

    3 MIN READBy Lee Min-hyung
    Incheon airport operator to halve employee parking permits
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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.

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Companies

LG Energy Solution's Arizona plant to meet demand for US-made batteries

LG Energy Solution (LGES) has shared the latest updates on the ongoing construction of its cylindrical battery plant in Arizona, highlighting its readiness to meet the growing demand for American-made batteries stemming from U.S. President Donald Trump's tariff policies. The Korean battery maker said Sunday that its Arizona subsidiary informed major local stakeholders that the facility's construction has reached the halfway point. During the opening ceremony of the company's new workforce training center, LGES Arizona President Richard Ra told attendees that the upcoming factory aims to begin sample production by mid-2026, with full commercial production slated for the end of the year. The company also stressed that the facility is well-positioned to meet increasing demand from U.S. carmakers for batteries made in the U.S. According to LGES, global carmakers have already signed a series of contracts to source the Korean firm's 46-series cylindrical batteries from its first cylindrical battery plant in the United States. "Our Arizona facility is now preparing for a successful completion, s

Apr 6, 2025By Park Jae-hyuk
LG Energy Solution's Arizona plant to meet demand for US-made batteries
Business

LG Electronics sets up large-scale scoreboards at Boston Red Sox's Fenway Park

LG Electronics said Sunday it has installed a massive light-emitting diode (LED) scoreboard at Fenway Park, home of Major League Baseball's Boston Red Sox, as part of its push to expand its global sports entertainment business. The main scoreboard, 30.5 meters wide and 11.5 meters tall, was completed at the end of March before the Red Sox's 2025 season home opener on Friday, according to LG Electronics. In addition to the centerpiece display, LG Electronics also installed 11 digital signboards, including an LED ribbon display spanning over 21.6 meters. Built for outdoor sports environments, the displays incorporate LG's high dynamic range (HDR) technology, peak brightness levels of over 700 nits and water and dust resistance. LG Electronics said it has partnered with ANC, the agency responsible for stadium operations, advertising and content for the Boston Red Sox and Fenway Sports Group, the owner of the baseball club. The company said the project with the Boston Red Sox is part of LG Electronics' broader strategy to expand its media-driven entertainment platform business for global spor

Apr 6, 2025By Yonhap
LG Electronics sets up large-scale scoreboards at Boston Red Sox's Fenway Park
Banking & Finance

IMM PE urges Kyobo Life chairman to honor put option as ordered by Korean court, ICC

IMM Private Equity (IMM PE) is urging Kyobo Life Insurance Chairman and CEO Shin Chang-jae to fulfill his obligations to repurchase the insurer’s shares under a put option, citing the Korean court’s recent recognition of the International Chamber of Commerce's (ICC) arbitration ruling. A put option lets investors sell assets such as company shares at a fixed price by a certain date if they choose to. In the context of the Kyobo Life dispute, financial investors including IMM PE secured a put option that gave them the right to sell their shares back to Shin if Kyobo Life failed to go public by an agreed deadline. A yearslong legal dispute between IMM PE and Shin began in October 2018, when a consortium led by Hong Kong-based Affinity Equity Partners — and including IMM PE, EQT Partners and Singaporean sovereign wealth fund GIC — exercised its put option, demanding that the chairman repurchase their shares at 410,000 won ($280) per share after the insurer failed to go public. “The ICC International Court of Arbitration clearly acknowledged that Shin is obligated under the shareh

Apr 6, 2025By Jun Ji-hye
IMM PE urges Kyobo Life chairman to honor put option as ordered by Korean court, ICC
Companies

Samsung Bioepis' bone loss biosimilar gains domestic approval

Samsung Bioepis said Sunday its biosimilar treatment for osteoporosis and bone loss has won approval from Korea's Ministry of Food and Drug Safety. Obodence is a biosimilar for Prolia, the blockbuster osteoporosis drug developed by U.S. biopharmaceutical firm Amgen, commonly used to treat bone loss in patients with prostate cancer or breast cancer. Prolia posted approximately 6.5 trillion won ($4.374 billion) of revenue globally last year, and the Korean market for the drug is valued at 174.9 billion won, according to market tracker IQVIA. In February, Samsung Bioepis acquired approvals for its Prolia biosimilar in the U.S. and Europe, under the names Ospomyv and Obodence, respectively. With the latest approval, the company can expand treatment options for patients with bone diseases in Korea, Samsung Bioepis said. "With the approval of Obodence, we have expanded opportunities to treat local bone disease patients at reasonable costs,” said Jung Byoung-in, head of Samsung Bioepis' regulatory affairs. “And we will continue to strive to create social value, such as improving patient ben

Apr 6, 2025By Lee Gyu-lee
Samsung Bioepis' bone loss biosimilar gains domestic approval
Business

Samsung Electronics seeks ways to cushion blow from US tariffs

Tech giant Samsung Electronics Co. may need to overhaul its global production strategy as new U.S. reciprocal tariffs could significantly affect its smartphone business, industry sources said Sunday. Last week, U.S. President Donald Trump announced plans to impose a minimum 10 percent "baseline" tariff on all imports to the United States and country-specific "reciprocal" tariffs that include 25 percent duties for Korea. The reciprocal tariffs, covering most product categories except some products like vehicles, semiconductors and pharmaceuticals, are set to take effect Wednesday (U.S. time). Experts and industry analysts noted that Samsung Electronics needs to cope with the U.S. tariff policy by utilizing its policy of diversifying production bases. Samsung Electronics, the world's largest smartphone maker, produces some half of its smartphones in Vietnam, facing a 46 percent reciprocal tariff on goods entering the U.S. The rest of its smartphone production is spread across India, Brazil, Indonesia and Korea. India faces a 26 percent tariff, Korea 25 percent and Brazil just 10 percent, ma

Apr 6, 2025By Yonhap
Samsung Electronics seeks ways to cushion blow from US tariffs
Companies

Korea set to inject $2 bil. in emergency aid for tariff-hit car industry

The Korean government plans to inject 3 trillion won ($2 billion) in emergency aid into the local car industry to cushion the blow from new 25 percent U.S. tariffs, officials said Sunday. The new tariffs, enacted last week by U.S. President Donald Trump, are part of a broader protectionist push to reduce trade deficits and strengthen domestic manufacturing. Korea is among the countries hit hardest, with its car exports to the United States accounting for nearly half of its total car sales overseas. At a ministerial meeting scheduled for this week, the government will approve the emergency financing plan, which will be carried out through state-run lenders, such as the Korea Development Bank (KDB). "The financial support will likely amount to around 3 trillion won, though the exact figure hasn't been finalized," said an official from the Ministry of Economy and Finance. "It will be disbursed through KDB's existing loan programs." In addition, the KDB and other policy lenders will provide up to 248 trillion won this year in broader financial support to help businesses navigate worsening glo

Apr 6, 2025By Yonhap
Korea set to inject $2 bil. in emergency aid for tariff-hit car industry
Banking & Finance

Banks outline contingency plan to bolster foreign liquidity

Local commercial lenders are rushing to outline emergency plans contingent upon volatile foreign exchange (FX) movements, in a collective move to fortify financial soundness and capital liquidity, market watchers said Friday. Central to the concerns are the weakening of the Korean won relative to the U.S. dollar amid soaring demand for the world's reserve currency due to tariff uncertainties caused by the Trump administration. Many lenders are closely monitoring capital soundness and FX liquidity, mindful of a weaker won translating into a lower Common Equity Tier 1 (CET1) ratio and liquidity coverage ratio (LCR). The lower the figures, the worse their financial soundness. The financial regulators say the CET1 ratio should be maintained at over 12 percent, and the LCR at over 80 percent. The Koran currency weakening by 10 won leads to a CET1 ratio falling by 2 or 3 basis points. According to the financial industry, Woori Bank has set up a new emergency committee to better counter FX volatilities and to formulate plans to factor in fluctuations in FX levels. Tighter credit limits will be i

Apr 4, 2025By Lee Kyung-min
Banks outline contingency plan to bolster foreign liquidity
Business

Business lobby groups express hopes for stability after impeachment ruling

The country's business lobby groups have called on the nation to focus on economic recovery, with the Constitutional Court's decision on Friday to impeach former President Yoon Suk Yeol alleviating much of the political uncertainty. The groups expressed respect for the ruling and emphasized that the country should swiftly mobilize efforts to strengthen the national economy and overcome global trade challenges. They also hoped that the national concerns and deep public division sparked by Yoon’s martial law declaration on Dec. 3 would be resolved soon. The Korea Chamber of Commerce and Industry (KCCI) stressed the urgency of focusing on the economy. It said that the country is currently facing "slumping domestic consumption, declining global competitiveness in key industries, tariff measures imposed by the Donald Trump administration and rising trade protectionism worldwide." “Considering these, it’s now time to overcome the internal dispute, start normalizing the government’s administration, recover [the] economy and stabilize the nation,” the KCCI said. “We’ll not spare e

Apr 4, 2025By Ko Dong-hwan
Business lobby groups express hopes for stability after impeachment ruling
Companies

Korea faces challenges to navigate Trump’s tariff risk without president

Korea is likely to continue to grapple with mounting trade challenges, as the removal of President Yoon Suk Yeol from his office makes it harder for the country to swiftly navigate lingering tariff pressure from the United States, experts and industry officials said Friday. The embattled president was ousted from his post after the Constitutional Court upheld his impeachment, nearly four months after he was suspended from his duties on Dec. 14 last year for his martial law declaration. The power vacuum has stoked concerns across the business circle here, as evidenced by what is widely seen as the government's "disappointing" countermeasures against the U.S. tariffs. The government has failed to defend major export-reliant conglomerates here from U.S. President Donald Trump’s imposition of a 25-percent "reciprocal" tariff on Korea. Korea must hold a presidential election within 60 days of the Constitutional Court's verdict, leaving the country vulnerable to additional trade threats from the U.S. in the absence of a state leader, even though Prime Minister Han Duck-soo remains in the act

Apr 4, 2025By Lee Min-hyung
Korea faces challenges to navigate Trump’s tariff risk without president
Companies

Trump's tariffs feared to hit Samyang’s Buldak noodle exports to US

Samyang Foods’ popular Buldak instant noodles may become a casualty of U.S. President Donald Trump’s 25 percent tariff on Korean imports, with the move causing concerns that the globally popular product could see retail price increases in the U.S. market. With no manufacturing plant in the U.S., Samyang Foods faces a tough challenge. The tariff could erode the product’s price competitiveness, leading to a decline in sales in one of its largest overseas markets. Along with Samyang, other Korean companies in the food, beauty and fashion industries are navigating the new trade landscape differently, depending on the strength of their manufacturing bases outside Korea. Samyang Foods last year accrued 77 percent of its entire sales from outside Korea. The North American market last year accounted for 28 percent of the company’s overall sales overseas, up eight percent from the previous year. The company’s U.S. subsidiary last year posted $280 million, up 127 percent from the previous year. The company’s products, manufactured in Korea and shipped to the U.S., were sold at all Walm

Apr 4, 2025By Ko Dong-hwan
Trump's tariffs feared to hit Samyang’s Buldak noodle exports to US
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