Upstage, a pioneering AI company specializing in large language models (LLMs) and Document AI, today announced that it has raised $72 million in a Series B. With this latest investment, Upstage has now raised over $100 million since its founding in October 2020, making it the most-funded South Korea
In the global competitive race for artificial intelligence (AI) technology, South Korea is losing its core competitive edge as top talent is turning away from the country. Foreign companies, with their overwhelming financial power, are successfully attracting these skilled individuals.According to t
South Korean cosmetics companies such as LG Household & Health Care and AmorePacific are reducing their reliance on the Chinese market and aggressively increasing their market share in the United States.According to statistics from the Korea Customs Service on April 15, the export amount of Korean c
With Coupang significantly increasing the subscription fee for its paid membership service, “Wow Membership,” last week, a “membership showdown” has commenced in the retail industry. This move comes amid continued aggression from Chinese e-commerce giants such as AliExpress and Temu, expanding the f
SK hynix has announced it will begin mass production of its 6th generation (1c) 10nm (nanometer) class DRAM within the third quarter of this year, positioning itself ahead of Samsung Electronics, which has plans for mass production by the end of the year.Industry insiders revealed on April 8 that SK
Attacks on Samsung Electronics by patent trolls are becoming increasingly cunning. These entities are focusing on purchasing patents with broad scopes that can be applied to various products and then targeting companies that release related products. Among global information technology (IT) companie
Seoul Semiconductor announced on March 5 that it has filed a patent lawsuit against global retailer Amazon in the Unified Patent Court in Europe seeking a ban on the sale of infringing products.Seoul Semiconductor and its affiliates have obtained 15 injunctions against infringing manufacturers and s
KT announced its vision to transform into an AICT company, combining its telecommunications capabilities with IT and AI, at MWC 2024, marking the start of its full-fledged leap into becoming a leading enterprise in global AI and ICT.At the recently concluded MWC 2024, KT received high praise for sho
LG Uplus announced an agreement to strengthen collaboration with Amazon Web Services (AWS) to maximize the utilization of AI. Hwang Hyeon-sik, the CEO of LG Uplus, and Kathrin Renz, AWS Vice President of Industry, met in Barcelona, Spain, during MWC2024 on Feb. 27 to sign an agreement. This collabor
It has been revealed that the National Pension Service (NPS) achieved a return on investment of over 40 percent through its investments in U.S. stocks last year. This is attributed to the historical bull market recorded in the U.S. stock market.According to the stockholding report (13F) submitted by
The author is an analyst for Shinhan Securities. He can be reached at sokang@shinhan.com -- Ed.4Q23 review: New game and profitability disappointNCsoft registered operating profit of KRW3.9bn (-91.9% YoY, -76.7% QoQ, operating margin of 0.9%) on sales of KRW437.7bn (-20.1% YoY, +3.5% QoQ) for 4Q23,
Sam Altman, CEO of OpenAI, who visited Korea to expand the artificial intelligence semiconductor ecosystem and met with top executives of Samsung Electronics and SK hynix, is now set to visit American semiconductor firm Intel.According to industry sources on Feb. 1, Intel CEO Pat Gelsinger announced
Artificial Intelligence (AI) stands at the forefront of the technology supremacy battle between the U.S. and China this year.On Jan. 26, U.S. Commerce Secretary Gina Raimondo stated in an interview with Reuters that regulations mandating U.S. cloud companies to report foreign customer information fo
Global beauty tech company APR (CEO Kim Byung-hoon) announced on Jan. 25 that it has achieved record-breaking year-end performance in its promotion in the United States, the largest beauty market in the world.APR explained that it achieved US$24.2 billion in sales in the United States from November
Hak Cheol Shin, CEO of LG Chem, has been selected as one of the top 100 economic leaders representing the World Economic Forum (WEF). At this year’s forum, CEO Shin will meet with global clients and partners to discuss collaboration strategies for managing the global supply chain and overcoming the
The Korean beauty care industry is turning its eyes to the Japanese market. It is a strategy to try to rebound by targeting Japan as an alternative market as its performance weakened due to a decline in the market share of Korean cosmetics in China.LG Household and Health Care’s cumulative sales thr
HL Group, a leading electric vehicle and autonomous driving solutions company, announced a mobility software agreement with Amazon Web Services (AWS) at CES 2024 in Las Vegas in the U.S.The agreement ceremony, held on Jan. 9 at the CES 2024 HL Mando booth, was attended by HL Mando’s Vice Chairman Ch
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Although sales of NCSOFT’s TL have arrived sluggish, initial payment for the title should be reflected alongside its global release. Moving ahead, we expect NCSOFT to display a change in strategy
After facing performance setbacks last year, Amorepacific is aiming for a rebound in the U.S. market this year.A report released by Kiwoom Securities on Jan. 5 forecasts that Amorepacific’s revenue for this year will be 4.2177 trillion won, with operating profits expected to be 406.1 billion won.In
In 2024, Hyundai Motor Group is focusing its business on transitioning to Purpose-Built Vehicles (PBVs) and Software-Defined Vehicles (SDVs).Hyundai Motor Group’s PBV strategy takes its first step with Kia unveiling its PBV lineup at the Consumer Electronics Show (CES) 2024, after a five-year hiatus