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Archive by category Management

Samsung Electronics to Join Alliance to Lead AI-powered 6G Network Tech

SEOUL, Feb. 26 (Korea Bizwire) – Samsung Electronics Co. said Monday it participated in the U.S. chip giant Nvidia-led alliance in a bid to lead the next-generation 6G network technologies powered by artificial intelligence (AI). The South Korean tech giant said it is a founding member of the AI-RAN Alliance, launched during this year’s Mobile World Congress, along with semiconductor, telecommunications and software big names including Nvidia, Arm, [...]

SK Telecom Joins Forces with Global Telcos to Establish Language-model Joint Venture

SEOUL, Feb. 26 (Korea Bizwire) – SK Telecom Co., South Korea’s top mobile carrier, said Monday it will create a joint venture with four global mobile carriers aimed at developing large language models (LLMs) tailored to the needs of telecommunications companies. The joint venture will be established by SK Telecom, Germany’s Deutsche Telekom, the United Arab Emirates’ e& Group, Singapore’s Singtel and Japan’s Softbank later [...]

Samsung and Arm Forge Deeper Ties in AI Chip Race

SEOUL, Feb. 22 (Korea Bizwire) – Semiconductor firms worldwide are engaged in fierce competition to secure a leading position in cutting-edge foundry process technology, particularly driven by the surging demand in the artificial intelligence (AI) chip market. Companies are forming strategic alliances with strong partners to enhance their competitiveness in this rapidly growing sector. Samsung Electronics [...]

Hyundai Motor and U.S. Museum Forge 10-Year Partnership for Exhibition Projects

SEOUL, Feb. 10 (Korea Bizwire) – Hyundai Motor Co. has signed a 10-year partnership with the New York-based Whitney Museum of American Art to support its exhibition projects and the Whitney Biennial, according to the company Saturday. The long-term sponsorship will offer an innovative platform for artists to experiment and showcase their works to the [...]

Samsung Launches ‘Galaxy Studio Pet’ Pop-Up with Starbucks for Pet-Friendly Experience with Galaxy S24 Series

SEOUL, Feb. 6 (Korea Bizwire) –Samsung Electronics has partnered with Starbucks to offer a unique experience for pet owners at the ‘Galaxy Studio Pet’ pop-up at the Starbucks Bukhan River R in Namyangju, Gyeonggi Province, until March 10. This collaboration marks a special opportunity for visitors to explore the features of the Galaxy S24 series [...]

GM Korea’s January Sales Surge Over Twice as Much Due to Robust Demand

SEOUL, Feb. 1 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Thursday its vehicle sales more than doubled in January from a year earlier thanks to strong demand from both home and abroad. GM Korea sold 43,194 vehicles in January, up 165.8 percent from a year ago on [...]

Hyundai Motor’s January Sales Rise by 1.8% Driven by Strong Overseas Demand

SEOUL, Feb. 1 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker, said Thursday its January sales rose 1.8 percent from a year earlier helped by strong overseas demand. Hyundai Motor sold 315,555 vehicles in January, up from 310,123 units a year earlier, the company said in a statement. Overseas sales rose 2.8 percent [...]

High Taxes and Social Perceptions Challenge Family Business Succession Among Export Companies

SEOUL, Jan. 29 (Korea Bizwire) – Executives of export companies believe that family business succession is crucial for the sustainability and responsible management of their enterprises. However, a recent study reveals that due to heavy tax burdens and negative social perceptions, many are contemplating selling or shutting down their businesses. A report from the Korea International [...]

Jin Air Achieves Record Profits in 2023 Amidst Strong Demand for Budget Travel

SEOUL, Jan. 17 (Korea Bizwire) – South Korean budget airline Jin Air Co. said Wednesday it posted record earnings in 2023 on strong demand, shaking off the fallout of the coronavirus outbreak. Net income came to an all-time high of 135.8 billion won (US$101 million) on a separate basis last year, the first black ink [...]

Samsung Flags 35 Pct Slip in Q4 Profit, Misses Forecast

SEOUL, Jan. 9 (Korea Bizwire) – Samsung Electronics Co. on Tuesday predicted that its operating profit for the fourth quarter of last year would tumble 35 percent on year, hurt by persistently weak demand for its mainstay semiconductor division. Samsung, the world’s biggest maker of memory chips and smartphones, estimated its fourth-quarter operating profit at [...]