Samsung Electronics has forecasted a return to profit for its memory business in the first quarter. The company is confident in the continuous recovery of the memory industry, driven by the growth of the artificial intelligence (AI) market. Consequently, Samsung Electronics plans to significantly in
South Korean trading firm SK Networks is joining hands with the Bow Capital, the U.S.-based venture capital firm, to pursue a transformation into an investment company focused on the artificial intelligence (AI) sector.SK Networks announced the signing of a memorandum of understanding (MOU) for the
CJ Logistics announced on Jan. 31 that it has entered into a strategic partnership for logistics cooperation with Saigon Co.op, a Vietnamese state-owned retail chain giant.Through this partnership, both companies plan to establish a joint task force to collaboratively operate a new logistics center
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.4Q23 OP falls short due to inventory adjustments at distributorsAmorepacific posted consolidated operating profit of KRW20.7bn (-64% YoY) on sales of KRW926bn (-15% YoY) for 4Q23, missing our estimate (KRW
Alibaba’s international service, AliExpress, has been attracting Korean brands with a ‘zero commission’ policy, potentially disrupting the domestic e-commerce market dominated by Coupang and Naver Shopping.According to the retail industry on Jan. 30, AliExpress is waiving commission fees for Korean
LG Electronics has maintained its position as the world’s number one home appliance manufacturer for the second consecutive year, surpassing American competitor Whirlpool. On Jan. 30, Whirlpool reported annual revenues of US$19.455 billion and an operating profit of US$1.015 billion for the past yea
Samsung SDI has commenced the full-scale shipment of its “dream battery.” the solid-state battery.At the performance report meeting held on Jan. 30, Park Jong-sun, vice president of Samsung SDI’s Large Business Division, announced, “During the fourth quarter of last year, we started shipping samples
Samsung Electronics and SK hynix are planning to mass-produce GDDR7 DRAM, a next-generation DRAM for graphics cards, within the first half of this year. GDDR7 DRAM, which is mainly used in Graphics Processing Units (GPUs) -- a core of the Artificial Intelligence (AI) era -- is expected to continue S
The market capitalization gap between South Korea’s Samsung Electronics and Taiwan’s TSMC, leading semiconductor companies, has widened over the past year. While TSMC has benefited from rising expectations in AI, South Korean firms are considered undervalued.Data from the global market capitalizatio
Samsung Display has relinquished its leading position in the foldable Organic Light-Emitting Diode (OLED) market to Chinese display manufacturer BOE in the last quarter of the previous year.According to the market research firm Display Supply Chain Consultants (DSCC) on Jan. 30, Samsung Display’s ma
China’s e-commerce giant AliExpress continues to face ongoing controversies in the domestic market, with persistent debates surrounding the sale of counterfeit products and product quality.According to industry sources on Jan. 23, the Chinese cross-border e-commerce platform AliExpress has recently
Incheon will host this year’s APAC Wind Energy Summit on 26-28 November 2024.The thriving port city in South Korea has abundant potential for offshore wind development and provides the perfect setting for local, national and international groups to come together and drive the region’s offshore wind
Hanwha Ocean and Hanwha Aerospace presented their state-of-the-art defense technologies to Dr. David Perry, President of the Canadian Global Affairs Institute (CGAI). The CGAI is recognized as Canada’s leading source of expertise on global affairs and Dr. Perry’s visit is timely as Hanwha is laying
비지니스코리아 Jung Min-hee (pr@businesskorea.co.kr)Lotte Group Chairman Shin Dong-bin has expressed his commitment to focusing on nurturing new business ventures while also considering the possibility of selling underperforming businesses. Regarding the management dispute, he stated, “It has been resolved
Japan’s Sony Group has surpassed Samsung Electronics in operating profit for the first time in 24 years. Just 14 years ago, the combined operating profit of nine major Japanese electronics companies did not even reach half of Samsung Electronics’. With Sony’s strong performance last year, however, i
The race to dominate the 2-nanometer (nm) semiconductor technology is heating up at the beginning of the year, a key battleground among global foundry (semiconductor contract manufacturing) companies.According to industry sources on Jan. 29, major foundry enterprises like Samsung Electronics, TSMC,
Despite halting operations at their Russian appliance factories for over a year due to the Ukraine war, Samsung Electronics and LG Electronics have not yet decided to sell. Instead, they are considering minimizing losses by leasing these facilities to local businesses.According to industry sources o
Samsung Electronics is set to launch its new Galaxy S24 series in China, featuring “Erniebot,” an artificial intelligence (AI) chatbot developed by Baidu as a response to OpenAI’s ChatGPT.According to foreign media reports on Jan. 29 (local time), Baidu announced that Samsung Electronics will utiliz
Hugel announced on Jan. 29 that it has launched HA fillers in Thailand. The company successfully launched the products after obtaining a product license from the Thai Food and Drug Administration (TFDA) in August last year, becoming the first company to enter the Thai HA filler, botulinum toxin, and
Korea-based automakers exported 2.76 million vehicles to 196 countries in 2023, according to the Korea Automotive and Mobility Industry Association (KAMA). This was the highest in eight years since 2015. Exports to the U.S. smashed the 1-million-unit milestone.Six Korea-based carmakers -- Hyundai Mo