In an unprecedented move, the U.S. government has decided to grant a massive US$19.5 billion subsidy to its domestic semiconductor company, Intel. This amount is nearly double the combined expected subsidies for Samsung Electronics, which is anticipated to receive $6 billion, and Taiwan’s TSMC, expe
This March, Four Seasons Hotel Seoul takes centre stage as an official partner of the prestigious Asia’s 50 Best Restaurants 2024, which comes to the Korean capital for the first time. Securing its place as a gastronomic hotspot in the city’s thriving culinary scene, the contemporary Gwanghwamun hot
On March 21, the KOSPI index closed at 2,754.86, marking a significant increase of 64.72 points, or 2.41 percent, compared to the previous day’s closing.The KOSPI started at 2,731.18, up 41.04 points, or 1.53 percent, from the previous day’s closing, and it rose to 2,755.45 at one point during the t
Samsung SDI, a leader in the all-solid-state battery (ASB) sector, has reconfirmed its goal to start mass production of all-solid-state batteries in 2027.During the annual general meeting held on March 20 at The K Hotel Seoul in Seocho District, Seoul, Choi Yoon-ho, CEO of Samsung SDI, announced, “W
It is forecast that both the economically active population and the employed population will enter a declining trend starting from 2028. To sustain economic growth, it is analyzed that an additional workforce of up to 900,000 people will be needed by 2032.On March 19, the Korea Employment Informatio
Samsung Biologics held its 13th regular general shareholders’ meeting at the Songdo Convensia in Incheon on March 15. The shareholders’ meeting, attended by approximately 1,500 shareholders both on-site and online, lasted for about 30 minutes starting at 9 a.m.During the meeting, a total of four age
Sebastian Seung, former President in charge of global research & development cooperation at Samsung Research, has left Samsung Electronics.Seung, a world-renowned AI scholar who has been leading the AI strategy formulation at Samsung Electronics, has been listed as resigned in the company’s business
Samsung Display CEO Choi Joo-sun has expressed confidence that Korea will reclaim the top spot in the global display market by 2027. Speaking to reporters before the Korean Display Industry Association’s general meeting at Lotte Hotel World on March 7, Choi emphasized the need for focus and speciali
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
The Hyundai Research Institute (HRI) has forecasted that the South Korean economy will enter a recovery phase after passing its lowest point this year.According to a report titled “Now is an Important Time to Form an Early Economic Cycle Bottom” released by the HRI on March 3, there is a high possib
By the end of 2023, more than 300 5G commercial networks had been launched worldwide, serving more than 1.6 billion users. 5G development is now well underway, with the growth rate of global 5G users reaching seven times higher than that of 4G users in the same period. Operators using Huawei solutio
Samsung Electronics, SK hynix, and other major semiconductor firms have called for government attention and support in relation to the U.S. government’s impending subsidy payments.During a “Public-Private Semiconductor Strategy Meeting” held on the morning of Feb. 26 at the Korea Chamber of Commerce
Amid growing concerns about expanding trade risks in big election years in 76 countries around the world holding elections, the Korean government has decided to actively manage risk factors through a strategy meeting among industry, academia, and research centers.The Ministry of Trade, Industry and
The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Feb. 23 that they held an online briefing on the 2024 Secondary Battery U.S. Investment Strategy to help Korean companies break into the U.S. secondary battery market.The event was
Gaudio Lab, a leading AI audio technology company, is set to participate in MWC 2024 to showcase innovative AI audio technologies that will be essential for the new era of spatial computing.Gaudio Lab will host its booth in the KOTRA Korea Pavilion at MWC Barcelona, where attendees can have a sneak
On Feb. 14, President Yoon Suk-yeol stated, “We will strive to position South Korea as the most favorable destination for businesses worldwide.”President Yoon hosted a luncheon meeting with foreign investment company representatives at the Korea Chamber of Commerce and Industry building in the Jung
Civic groups in Pohang, North Gyeongsang Province, collectively known as the “POSCO Citizens’ Response Committee,” held an urgent executive committee meeting on Feb. 12 to formally oppose the nomination of former POSCO President Jang In-hwa as the CEO candidate for POSCO Holdings.The Citizens’ Commi
Hyosung Group Chairman Cho Hyun-joon has been named as the chairman of the Korea-Japan Exchange Committee.The Korea International Trade Association (KITA) held the Inauguration Ceremony and First Meeting of the Korea-Japan Exchange Committee at the Grand Intercontinental Hotel in the Samseong neighb
The voices of labor unions within Samsung Group are growing louder. This is because not only are affiliate unions demanding the same wage increase through solidarity but the launch of a unified union, beyond affiliate unions, is on the horizon.On Feb. 6, the Samsung Group Trade Union Solidarity, a f
Pernod Ricard Korea, a Korean affiliate of Pernod Ricard Group, a global liquor maker, has launched a range of elegant whisky gift sets to celebrate the Lunar New Year in 2024, the Year of the Dragon. The sets feature various product lines ranging from high-quality blended whiskies to unrivaled sing