SEOUL, Oct. 18 (Korea Bizwire) — U.S. tech manufacturer Whirlpool Corp. has demanded a punitive tariff of 50 percent on South Korean firms’ washers, government sources said Wednesday. According to South Korea’s trade ministry, Whirlpool submitted the demand to the U.S. International Trade Commission (ITC), which earlier determined that Samsung Electronics Co. and LG Electronics [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korean tech giant SamsungElectronics Co. said Friday that its third-quarter operating profit is expected to have nearly tripled on-year, apparently on the sound returns from its computer chip business. Operating profit was estimated at 14.5 trillion won (US$12.8 billion), compared with 5.2 trillion won tallied a year earlier, the company [...]
SEOUL, Oct. 11 (Korea Bizwire) – South Korea’s main stock index hit a record high on Wednesday, buoyed by strong buying by foreign investors, while Samsung Electronics rallied ahead of its earnings release. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.35 points, or 1 percent, [...]
SEOUL, Oct. 11 (Korea Bizwire) — The South Korean government vowed Wednesday to work with Samsung Electronics Co. and LG Electronics Inc. to defend washers made by the two companies in the U.S. market, where they could be subject to tough safeguard measures. The trade and foreign ministries held a meeting with the tech giants [...]
SEOUL, Oct. 10 (Korea Bizwire) – Prices of mobile handsets sold in South Korea are some 2.6 times the global average, a lawmaker claimed Tuesday, apparently as tech giants are reluctant to release more budget models locally. Citing the data compiled by industry tracker Gartner, Rep. Byun Jae-il of the ruling Democratic Party said the [...]
SEOUL, Oct. 9 (Korea Bizwire) — Samsung Electronics Co. will launch an Internet of Things (IoT) system that can incorporate artificial intelligence into the management of buildings, industry sources said Monday. Business insiders said the South Korean tech giant will unveil its smart building the system at its headquarters in southern Seoul on Oct. 18. [...]
SEOUL, Sept. 29 (Korea Bizwire) – A U.S.-based semiconductor technology company filed a lawsuit against Samsung Electronics Co. claiming patent infringement, industry sources said Friday. According to the sources, Tessera Technologies Inc. and its affiliates claimed Samsung Electronics made use of some 24 patented items, covering a wide range of semiconductor processing, bonding and packaging technologies. The Samsung products involved in the alleged infringements include the Galaxy S6, S7 and [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Electronics climbed to 6th while Hyundai Motor Company stayed in 35th place for the second straight year in global brand consultancy Interbrand’s “Best Global Brands 2017” list. Kia also held steady by staying at 69th place, the same position it was in last year. Interbrand estimated Samsung Electronics’ [...]
SEOUL, Sept. 18 (Korea Bizwire) — Major South Korean manufacturers of semiconductors and displays plan to invest a combined 51.9 trillion won (US$45.8 billion) in the domestic market by 2024 to help stimulate the local economy and create jobs, the government said Monday. Senior executives from major manufacturers announced their investment plans during a meeting [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s top two chipmakers — Samsung Electronics Co. and SK hynix Inc. — are set to see their combined annual sales exceed 100 trillion won (US$88.3 billion) this year on the back of an industry boom, industry sources said Monday. The outlook came as Samsung and SK hynix, [...]