The Renault Samsung Motors labor union canceled its all-out strike in seven days on June 12 with the majority of its members refusing to participate in the strike. The management of the company, which is planning to file a damage suit against the union, canceled its partial lockout in one day in res
The number of 5G subscribers exceeded one million as of June 10, the Ministry of Science and ICT said on June 12. 5G mobile phones sold about 230,000 units during the first month of 5G services, exceeding the initial adoption pace of 4G services.The surge in 5G subscribers in the initial period is a
Samsung Electronics will launch the Galaxy M40, the fourth model of the Galaxy M series, in order to penetrate the Indian market. It remains to be seen whether the Galaxy M40 will record sold-outs as did the Galaxy M10, M20 and M30 and help Samsung Electronics regain the top spot in the Indian smart
Renault Samsung Motors will file a damage suit against the labor union leadership, claiming that its daily losses from an illegal strike amount to more than 10 billion won.Renault Samsung recently took action to hold labor union leaders responsible for causing astronomical losses to the company thro
With the United States-China battle for technology hegemony intensifying, a global ICT fair in Shanghai, China took a bitter blow.Although the CES Asia 2019 opened in Shanghai on June 11, the presence of Korean companies decreased noticeably, with major domestic companies including Samsung Electroni
Although the global display panel market remains stagnant, Chinese companies continue to grow rapidly, increasing their market share significantly. They have already taken first place in terms of shipments and are chasing Korean producers closely in terms of sales.According to global market research
Korea Gas Corp. (KOOGAS) announced on June 11 that it has completed its first LNG production and shipment at Prelude FLNG, the world's largest floating liquefied natural gas platform established in Australia.KOGAS has a 10 percent stake in the Prelude project. Operators of the platform began to
Samsung Electronics will hold a series of global strategy meetings, starting with one on smartphones this week. Vice chairman Lee Jae-yong will start to draw up a strategy to overcome unfavorable external factors such as the U.S.-China trade disputes.Samsung would start a global strategy meeting on
The Seoul Central District Prosecutors' Office is questioning Chung Hyun-ho, president of Samsung Electronics' business support team who is known to be the closest aide to the company’s vice chairman Lee Jae-yong, over his role in the alleged accounting fraud at Samsung BioLogics.Chung’s sum
Hanwha Group will acquire a U.S. aircraft engine parts maker for about US$300 million.Hanwha Aerospace announced on June 10 that it would acquire a 100 percent stake in EDAC, a U.S. aircraft engine parts manufacturer. Hanwha Aerospace is Korea's only aviation engine parts maker.EDAC supplies maj
Samsung Electronics is maintaining a high dividend payout policy despite a sharp drop in its profits.Samsung Electronics has decided to pay quarterly dividends of 2.404 trillion won in the first quarter of this year, according to the electronic disclosure system of the Financial Supervisory Service
Lee Jae-yong, vice chairman of Samsung Electronics, is unlikely to attend this year's "Sun Valley Media Conference," a closed-door annual gathering of global economic movers and shakers to be held in the United States next month. Lee is facing knotty issues such as the prosecution’s investigatio
The next move of Samsung Electronics is drawing much attention as M&As in the global semiconductor market are showing signs of acceleration. The company, which has more than 104 trillion won in cash, is concentrating on automotive components as one of its future growth drivers, which means it is lik
The National Development & Reform Commission of China told Samsung Electronics and SK Hynix on June 4 and 5 to continue to supply their components to Chinese companies. Earlier, the Ministry of Foreign Affairs of China put the same pressure on South Korea as well. Likewise, U.S. Ambassador to the Re
Nvidia, the world's second-largest semiconductor design company, will produce its next-generation graphics processing units (GPUs) using Samsung Electronics’ 7 nanometer (NM) extreme ultra-violet (EUV) processes. Industry experts say that it is very symbolic that Nvidia joins hands with Samsung
Korea’s major industries are beleaguered. Externally, exports of semiconductors, displays, and petrochemicals, which are the backbones of the Korean economy, have been on the decline due to a drop in demand stemming from the U.S.-China trade dispute. Internally, labor unions’ hard lines and excessiv
As memory semiconductor prices decline and the uncertainty of the semiconductor industry grows due to the U.S.-China trade dispute, 3D memory attracts attention as a future technology. At the same time, the number of related patent applications shows a sharp upturn.According to the Korean Intellectu
LG Electronics' first 5G smartphone, the V50 ThinQ is gradually filling up the vacuum in the phone market left by the delayed launch of the foldable phones by other companies. LG Electronics started to launch the new phone in Australia and Europe, going beyond Korea and the United States, its ma
The global semiconductor material market is expected to continue to grow based on advanced technology unlike the global semiconductor market. At present, it is Japanese companies that are leading the global semiconductor material market. Yet South Korean companies are sharpening their competitive ed
Korean smartphone manufacturers have been sandwiched between Apple and Chinese producers in recent years. Samsung Electronics has maintained the number one spot in the global smartphone market until the first quarter of this year, but it is behind Apple in terms of profitability and Huawei in terms