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Samsung to Invest $1 Million in Texas A&M University to Foster Talent for the Chip Industry

Samsung to Invest $1 Million in Texas A&M University to Foster Talent for the Chip Industry

SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will invest US$1 million in Texas A&M University’s education and recruiting programs meant to nurture talent in the semiconductor sector. The South Korean chip giant signed the partnership with the engineering school last week in an effort to secure talent for its semiconductor [...]

Game Developers Embrace ‘Soft Launch’ Strategy for Game Improvement

Game Developers Embrace ‘Soft Launch’ Strategy for Game Improvement

SEOUL, Aug. 7 (Korea Bizwire) — An increasing number of game developers are embracing the strategy of “soft launches,” wherein they release games in a limited number of countries prior to the official launch. In contrast to beta testing, soft launches incorporate revenue-related elements like paid subscriptions, and the data remains intact post the official [...]

Korean Battery Makers See Market Share Fall in H1 Despite Solid Growth

Korean Battery Makers See Market Share Fall in H1 Despite Solid Growth

SEOUL, Aug. 3 (Korea Bizwire) — Three major South Korean battery makers saw their market share fall in the first half of the year from a year earlier despite solid growth, as bigger Chinese rivals further expanded their overseas foothold, a report said Thursday. The combined market share of the three — LG Energy Solution [...]

Foreign Carmakers Release a String of EVs Eligible for Subsidies

Foreign Carmakers Release a String of EVs Eligible for Subsidies

SEOUL, Aug. 1 (Korea Bizwire) — Unlike in the past, when foreign carmakers mainly released high-priced electric vehicles (EVs) in the Korean market, they are now launching a string of new models with lower prices and improved performance to increase the potential for subsidies. The competition was ignited by U.S. electric vehicle maker Tesla Inc.’s [...]

GM Korea Reports Profitable 2022 Financial Results and Outlines Priorities for 2023

GM Korea Reports Profitable 2022 Financial Results and Outlines Priorities for 2023

SEOUL, April 7 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., achieved a surplus in the previous year, thanks to a combination of factors such as high exchange rates, increased exports, cost-cutting measures, strong pricing, and expanded semiconductor availability. At a recent management briefing session held by GM Korea, [...]

Samsung Electronics to Borrow More than US$15 bln from Display Unit for Investment

Samsung Electronics to Borrow More than US$15 bln from Display Unit for Investment

SEOUL, Feb. 15 (Korea Bizwire) — Samsung Electronics plans to borrow more than US$15 billion from its display-making subsidiary to secure operational costs, the company has said. The South Korean tech giant said in a regulatory filing on Tuesday that it will borrow 20 trillion won (US$15.78 billion) from Samsung Display at an interest rate [...]

Hybe CEO Says Company Will Ensure Independence of SM After Acquisition

Hybe CEO Says Company Will Ensure Independence of SM After Acquisition

SEOUL, Feb. 14 (Korea Bizwire) — Park Ji-won, CEO of local K-pop powerhouse Hybe, has said his company will ensure the independence of its rival SM Entertainment even after becoming its top shareholder and that SM founder Lee Soo-man will stay away from management, according to sources in the music industry. Park made the remarks [...]

Food Company Dongwon Pushes to Acquire McDonald’s Korea

Food Company Dongwon Pushes to Acquire McDonald’s Korea

SEOUL, Feb. 6 (Korea Bizwire) — Dongwon Group, a major South Korean food company, is pushing to acquire McDonald’s Korea, industry sources said Monday, in the food maker’s push to strengthen its restaurant business. Dongwon Industries Co., the holding company of the group, has been the preliminary sole bidder in the acquisition of McDonald’s Korea, [...]