The number of venture companies with annual revenue exceeding 100 billion won (US$76.8 million) last year reached the record high of 869, the highest figure in history. The growth rate also set a new record, achieving an unprecedented 17.6 percent increase, or 130 companies, compared to the previous
SK hynix has narrowed its gap to within 5 percentage points of global number one in the DRAM market Samsung Electronics, buoyed by the surge in demand for artificial intelligence (AI) and its strong performance in high bandwidth memory (HBM) and other premium memory semiconductor products. The indus
Hanwha Aerospace has announced a groundbreaking 175.9 billion won (US$143.4 million) contract with the U.K.’s BAE Systems for the supply of modular charge systems (MCS) for 155 mm artillery shells used by NATO member countries. The contract was revealed on Nov. 23.The MCS, a cylindrical modular prop
Samsung Electronics recently presented a number of memory strategies to prepare for the “AI Big Bang” era at the Investors Forum 2023 in Hong Kong.The company aims to dominate the automotive memory market by 2025, with plans to roll out AI-related products starting next year. The AI market is expand
Samsung Electronics has been ranked among the top five global brands for the fourth consecutive year.The Korean tech giant took fifth place in the world with a brand value of US$91.4 billion. This is a 4 percent jump from 2022, according to the Global 100 Brands released by Interbrand, a global bran
The Hyundai Motor Group Innovation Center in Singapore (HMGICS) is an urban micro-factory. Urban micro-factories are characterized by a multi-vehicle, low-volume production system rather than mass production of a traditional automobile factory. Although Singapore has a small automobile market, it is
SK hynix is poised to commercialize its newly developed bio image sensor, aiming to secure a stronger position in the global market by not only focusing on mainstream smartphone and automotive image sensors but also pioneering unique product lines.On Nov. 21, it was reported that SK hynix unveiled i
Korea’s real gross domestic product (GDP) is expected to rise by 2.0 percent next year from this year, according to the state-run Korea Institute for Industrial Economics and Trade (KIET) in its 2024 Economic and Industrial Outlook report released on Nov. 20. The relatively conservative forecast is
The value of the Japanese yen is nearing its lowest point in 33 years, emerging as a hidden challenge for South Korea’s industrial sector. Key industries such as steel, automotive, and electronic components, which directly compete with Japanese counterparts, are facing weakened price competitiveness
Samsung Electronics has set a goal to increase the sales proportion of artificial intelligence (AI) chips in its foundry (semiconductor contract manufacturing) business to 50% by 2028.According to sources in the semiconductor industry on Nov. 20, the current revenue breakdown by application for Sams
On Nov. 16, POSCO Group held POSCO Group Tech Day at Renault’s R&D Center in France and introduced its key eco-friendly future material technologies and main products, as announced on Nov. 19.The event was attended by over 600 people, including Kim Ji-yong, CTO of POSCO Holdings and head of the Futu
South Korean conglomerates, including Samsung and LG, are set to unveil new home appliances, mobile technologies, and mobility (automotive) solutions at CES 2024, the world’s largest electronics trade show held in the United States, embarking on extensive promotional activities.According to industry
As a result of President Yoon Suk-yeol’s visit to the United States for the Asia-Pacific Economic Cooperation (APEC) summit, four American companies, including General Motors (GM) and DuPont, have decided to invest a total of US$1.16 billion in South Korea.The Ministry of Trade, Industry, and Energy
Thomas Ingenlath, CEO of Polestar and a designer by profession, made a surprise announcement at the Polestar Day event held in Los Angeles, California, on Nov. 9 (local time). He revealed plans to produce the Polestar 4, a coupe-style Sports Utility Vehicle (SUV), in South Korea.On Nov. 16, the auto
Waycen (CEO Kim Kyung-nam), a company specializing in AI MEDTECH, proved to be the next-generation global innovation company by winning three CES innovation awards ahead of the world's largest IT exhibition "CES 2024" in Las Vegas in January next year.According to the results of the CES 2024 Innovat
Koreans spent more than 104.4 billion minutes on YouTube in October, according to a survey.WiseApp-Retail Goods, a company that analyzes mobile applications and retail, announced on Nov. 15 that it surveyed Korean smartphone users on their YouTube usage time. The survey was conducted among 51.2 mill
The Ministry of Trade, Industry and Energy announced on Nov. 14 that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$17.06 billion, while imports recorded US$12.61 billion, resulting in a provisional trade surplus of US$4.44 billion.Notably, the incre
Following the rise of generative AI led by ChatGPT, the On-Device AI market is now opening up, drawing attention to a new type of memory semiconductor. On-Device AI refers to technology that implements AI functions within information technology (IT) devices like smartphones without relying on server
According to industry sources on Nov. 13, South Korean memory semiconductor manufacturers are focusing on the preemptive development of memory to support the advancement of Artificial Intelligence (AI). This is expected to lead to the creation of AI semiconductors that are not only capable of data s
SK hynix announced today that it has started supplying its customers with 16 gigabyte (GB) packages of Low Power Double Data Rate 5 Turbo (LPDDR5T), the fastest mobile DRAM available today that can transfer 9.6 gigabits per second (Gbps).Since the successful development of its LPDDR5T in January, SK