SEOUL, Jul. 27 (Korea Bizwire) — LG Display Co. said Thursday it will suspend making investments in liquid-crystal display (LCD) panels for TVs, and instead focus its efforts on developing the next-generation organic light-emitting diode (OLED) panels. “There will be no additional investment on LCD TVs,” said Han Sang-beom, the head of LG Display. “There [...]
SEOUL, Jul. 26 (Korea Bizwire) — SK hyinx Inc. said Wednesday it plans to allocate some 9.6 trillion won (US$8.5 billion) this year to expand its production facilities for dynamic random-access memory (DRAM) and NAND chips. Through a regulatory filing, the South Korean chipmaker said it expanded the amount of investment originally estimated at 7 [...]
SEOUL, Jul. 26 (Korea Bizwire) — Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Wednesday that it has taken over a U.S. gas turbine service provider in a bid to boost its presence in the U.S. market. In June, Doosan Heavy said it signed a preliminary deal to buy ACT [...]
SEOUL, Jul. 21 (Korea Bizwire) — Global smartphone giants are expected to compete fiercely in the second half of 2017, industry watchers said Friday, as South Korea’s top two players are fixing the release dates of their latest flagship smartphones next month. Samsung Electronics Co. said it will showcase the presumed Galaxy Note 8 in [...]
SEOUL, Jul. 20 (Korea Bizwire) — SK Group will take steps to boost domestic consumption, including encouraging its employees to take long vacations and facilitate growth of subcontractors, corporate sources said Thursday. CEOs of the group’s key subsidiaries met in Seoul on Tuesday where they discussed enhancing work effectiveness and contributing to spurring local demand, [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it expanded production of new high-performance dynamic random-access memory (DRAM) chips that can be utilized for artificial intelligence (AI) systems. The South Korean tech giant said it kicked off full-fledged mass production of the industry’s first high-performance 8GB High Bandwidth Memory 2 (HBM) DRAM [...]
SEOUL, Jul. 18 (Korea Bizwire) — Shinsegae Group, a retail giant in South Korea, said Tuesday it will open its third shopping mall in the northern outskirts of Seoul next month, offering a variety of options for shopping, leisure and culinary experiences. Starfield Goyang, a two-story building with four underground floors covering an area spanning [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Heavy Industries Co. is seeking to cut its workforce and have employees return part of their salaries in order to cut costs, industry sources said Tuesday. Last year, the major South Korean shipyard unveiled a self-restructuring program that centers on cutting the workforce and having executives return part [...]
SEOUL, Jul. 17 (Korea Bizwire) — South Korea’s top mobile carrier SK Telecom Co. and major entertainment agency SM Entertainment said Monday they will join forces through a series of stock sales among their affiliates, in order to beef up their content business and search for new opportunities. Under the deal, SK Telecom will buy [...]
SEOUL, Jul. 14 (Korea Bizwire) — BGF Retail Co., the operator of South Korea’s largest convenience store chain CU, said Friday it signed a franchise deal with an Iranian company marking the first overseas expansion for a convenience store operator. Under the agreement, home appliances firm Entekhab Investment Development Group will take charge of investment [...]