SEOUL, Aug. 9 (Korea Bizwire) — Lee Jae-yong, Vice Chairman of Samsung Electronics, attended only two public functions in the six months following his release from prison when his sentence was suspended on appeal in February. Lee’s reason for keeping a low profile is said to be due to his urge to focus on discovering [...]
SEOUL, Jul. 31 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will donate 50 billion won (US$44.7 million) to an industrial foundation to help small firms set up smart-factory infrastructure in their production centers. The South Korean tech giant said through a regulatory filing that its board has decided to provide 10 billion won [...]
SEOUL, Jul. 27 (Korea Bizwire) — Samsung Electronics Co. on Friday showcased teaser videos for the upcoming Galaxy Note 9 smartphone, highlighting improved performances in terms of battery, storage capacity, and speed. Under the title “A lot can change in a day,” Samsung advertised the showcase event slated for Aug. 9 through three different video [...]
SEOUL, Jul. 26 (Korea Bizwire) — The financial regulator on Thursday ordered Samsung Securities Co. to suspend part of its operations for six months as punishment for the brokerage’s “fat-finger” error that sparked a massive public uproar. Samsung Securities will be banned from offering its services to new investors for six months from Friday, the [...]
SEOUL, Jul. 13 (Korea Bizwire) — U.S. activist fund Elliott Associates has filed an investor-state dispute (ISD) suit against the South Korean government seeking compensation for its losses from a 2015 merger of two Samsung units, Seoul’s justice ministry said Friday. The notice of arbitration lodged by the American firm comes three months after Elliot [...]
SEOUL, Jul. 10 (Korea Bizwire) — South Korean President Moon Jae-in, during a state visit to India, surprised reporters yesterday by taking the subway with Indian Prime Minister Narendra Modi on their journey to inaugurate the world’s largest mobile phone manufacturing facility, which was developed by Samsung Electronics in Noida, India. Earlier in the day, [...]
SEOUL, Jul. 5 (Korea Bizwire) — Members of Banollim, a civic group that advocates for the welfare of semiconductor factory workers, held a demonstration outside the Samsung Electronics head office in Seoul to commemorate the 1,000th day of protest following the death of a Samsung employee. Banollim is composed of individuals whose family members died [...]
SEOUL, Jul. 5 (Korea Bizwire) — A local court banned a former worker of Samsung Display Co. from relocating to a Chinese firm on Thursday, claiming the restriction is needed to protect sensitive technologies. The Suwon District Court upheld the request made by Samsung Display to ban a former researcher from getting a new position [...]
SEOUL, Jul. 3 (Korea Bizwire) — South Korea’s government is facing another investor-state dispute (ISD) lawsuit from a U.S. fund over a controversial merger of two Samsung Group companies in 2015. The Ministry of Justice said in a release on Tuesday that it has received a notice of intent from Mason Capital Management, seeking US$175 [...]
SEOUL, Jun. 28 (Korea Bizwire) — Samsung Electronics Co. said Thursday it has reached an agreement with Apple Inc. to settle the latest legal dispute surrounding alleged smartphone design infringement “We cannot provide any details other than that we reached an agreement with Apple,” a source from Samsung Electronics said. Samsung refrained from disclosing other [...]