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Gov’t Pledges Continued Support for Chip Sector, Aims Export of US$120 Bln

Gov’t Pledges Continued Support for Chip Sector, Aims Export of US$120 Bln

SEOUL, Mar. 21 (Korea Bizwire) — Industry Minister Ahn Duk-geun said Thursday the government will proactively support the semiconductor industry, and accelerate the development of high-bandwidth memory and artificial intelligence chips to achieve the annual export target of US$120 billion. “The government will support the timely establishment of related infrastructure, secure competitive technologies, promote exports, [...]

Corporate Boards in South Korea Employ Over 1,200 Outside Directors

Corporate Boards in South Korea Employ Over 1,200 Outside Directors

SEOUL, Mar. 21 (Korea Bizwire) – The number of outside directors working for South Korea’s 50 largest corporate groups surpassed 1,000 last year, with nearly 90 individuals serving on the boards of two separate companies, according to a report released on Monday.  The Korea CXO Institute, a corporate analysis firm, found that among the top 50 [...]

S. Korea Logs Trade Surplus in Intellectual Property Rights in 2023

S. Korea Logs Trade Surplus in Intellectual Property Rights in 2023

SEOUL, Mar. 20 (Korea Bizwire) — South Korea posted a trade surplus in intellectual property rights (IPRs) in 2023, partly due to trade surplus in copyrights, central bank data showed Wednesday. The country’s cross-border IPR trade surplus stood at US$180 million last year, compared with a shortfall of $1.11 billion a year earlier, according to [...]

Samsung Electronics Sees High Economic Uncertainty, New Opportunity in AI

Samsung Electronics Sees High Economic Uncertainty, New Opportunity in AI

SEOUL, Mar. 20 (Korea Bizwire) — Samsung Electronics Co., the world’s largest maker of memory chips, said Wednesday that macroeconomic uncertainties are expected to be high this year but vowed to embrace a new opportunity in the rise of artificial intelligence (AI). “Although uncertainties in the macroeconomic environment are expected to be high this year, [...]

Foreign Investors Flee POSCO Holdings Amid Climate Concerns

Foreign Investors Flee POSCO Holdings Amid Climate Concerns

SEOUL, Mar. 20 (Korea Bizwire) – POSCO Holdings, a major South Korean steelmaker listed on the KOSPI index, has seen a precipitous drop in foreign shareholdings over the past year, as global investors grow increasingly wary of the company’s climate impact and carbon footprint.  According to data from the Korea Exchange, foreign ownership of POSCO Holdings [...]

Samsung Ramps Up Production to Meet Demand for AI-Powered Laundry Combo

Samsung Ramps Up Production to Meet Demand for AI-Powered Laundry Combo

SEOUL, Mar. 20 (Korea Bizwire) – Samsung Electronics is running its domestic production lines for the Bespoke AI Combo at full capacity to keep up with robust consumer demand, aiming to ensure smooth delivery of the innovative laundry solution. Samsung announced on March 19 that the Bespoke AI Combo had an impressive start, selling 1,000 units [...]

As Fresh Produce Prices Soar in South Korea, Retailers Race to Preserve Freshness

As Fresh Produce Prices Soar in South Korea, Retailers Race to Preserve Freshness

SEOUL, Mar. 19 (Korea Bizwire) – With apple prices hitting record highs and fresh food costs skyrocketing, retail chains in South Korea are deploying innovative techniques to extend the shelf life of fruits and vegetables, seeking to minimize wastage of these increasingly precious and perishable commodities. At Lotte Mart, the company has been installing “Pure Space” [...]

SK Hynix Begins Mass Production of Latest HBM3E Chips

SK Hynix Begins Mass Production of Latest HBM3E Chips

SEOUL, Mar. 19 (Korea Bizwire) — South Korean chipmaker SK hynix Inc. said Tuesday it has started mass production of the latest high band width memory (HBM) chips, solidifying its leadership position in the high-performance artificial intelligence (AI) memory semiconductor sector. It came seven months after the company announced the development of the fifth-generation HBM3E [...]

IKEA to Invest US$327 Mln for Expansion in S. Korea

IKEA to Invest US$327 Mln for Expansion in S. Korea

SEOUL, Mar. 19 (Korea Bizwire) — Swedish furniture giant IKEA will invest 300 million euros (US$327 million) in South Korea over the next three years to gain a bigger share in Asia’s fourth-biggest economy, the company’s retail manager has said. IKEA, which will celebrate 10 years in business here in December, currently operates four stores [...]