SK Hynix Inc., the second largest DRAM producer in the world, announced on July 25 that it would cut back DRAM production starting from the fourth quarter of this year, following Samsung Electronics Co.The company also said it is planning to increase its NAND flash wafer input cut from 10 percent in
SK Telecom announced on July 24 that it has started operating STONledger, an enterprise blockchain platform that it has developed together with its consortium members. The announcement is taken as a declaration that the company will focus on the blockchain business.SK Telecom plans to introduce a va
Doosan Corp., the holding company of Doosan Group, announced on July 24 that it held a groundbreaking ceremony for an electric vehicle (EV) copper foil plant in the Tatabanya Industrial Park in northwestern Hungary on July 24.A company official said, “The new plant is the only battery copper foil pl
The total amount of principal invested in domestic bond-type funds has topped 120 trillion won (US$101.82 billion) for the first time as a large amount of investors' money keeps flowing into bond funds, which are considered risk free assets, amid concerns about the slowdown of the Korean economy
Deutsche Securities Korea Co. is closing down its stock brokerage business in South Korea.The company's board of directors decided on July 18 to wind up its stock sales and trading, exchange-traded derivatives trading and research businesses, according to investment banking industry sources on J
An increasing number of South Korean manufacturers are considering relocating their production facilities to the United States with regard to high U.S. tariffs and Japan’s export restrictions targeting South Korea. A shortened workweek, a rapid increase in minimum wage and militant labor unions in t
Japan’s economic retaliation against South Korea is expected to expand to cover semiconductor manufacturing equipment as well as semiconductor materials. The semiconductor industry of South Korea will take a direct hit in that case with both Samsung Electronics and SK Hynix making new investments in
SK Hynix CEO Lee Seok-hee left for Japan on July 21 to secure raw materials for semiconductor production.Lee is expected to meet with executives of Japanese partner companies to discuss raw materials supply. He is also expected to explore countermeasures for the Japanese government’s expected exclus
The World Trade Organization (WTO) announced on July 21 that only China and the United States among the world’s top 10 exporting countries showed a year-on-year increase in goods exports for the first four months of this year. The largest and second-largest exporters’ exports totaled US$744.511 bill
National Security Advisor of the United States John Bolton departed on July 20 (local time) to visit South Korea and Japan after U.S. President Donald Trump said that he might go between them concerning their disputes.South Korean President Moon Jae-in recently asked the president of the United Stat
SK Telecom announced on July 18 that it would turn the nation's top 10 commercial districts, vacation areas and parks with heavy foot traffic into 5G clusters and concentrate network infrastructure and membership benefit programs on them.This plan is intended to attract new subscribers to its 5G
SMEs and Startups Minister Park Young-sun pointed out that South Korean small firms can produce and supply hydrogen fluoride and yet their larger counterparts are refusing to purchase their hydrogen fluoride. SK Group chairman Chey Tae-won said in response that their hydrogen fluoride is inadequate
Chinese news outlets reported on July 16 that Befar Group, a chemical company located in Shandong Province, signed a hydrogen fluoride (etching gas) supply contract with a South Korean semiconductor manufacturer. The Nihon Keizai Shimbun also reported that Samsung Electronics recently began to test
Samsung Electronics secured high-purity hydrogen fluoride equivalent to a two-month inventory after the Japanese government restricted the export of semiconductor and display materials to South Korea on July 4. The company is planning to keep improving the efficiency of its semiconductor manufacturi
The aggregate annual operating profit of 229 companies listed on the KOSPI and KOSDAQ markets this year is estimated at 134.51 trillion won (US$113.76 billion), down 24.6 percent from last year, according to Seoul-based market tracker FnGuide on July 17. The net profit is also forecast to drop 20.8
The Financial Supervisory Service (FSS) has belatedly warned consumers of the risks of foreign currency insurance products, including dollar insurance, which have been sold by foreign insurance companies such as MetLife, AIA and Prudential Life Insurance. Foreign insurers sold more than 50,000 cases
Samsung Display is in talks with SKC over the supply of colorless polyimide (CPI) used for foldable smartphones. This represents the first time that Korean corporations collaborate to substitute local products for items that are under the Japanese government’s export control.CPI is a key component o
The ruling Democratic Party of South Korea renamed its Special Committee on Japan’s Economic Retaliation as Special Committee on Japan’s Economic Invasion. On the other hand, main opposition Liberty Korea Party is extremely wary of opposing the Japanese government.The ruling party is becoming more a
Samsung Electronics said on July 17 that it is testing etching gases supplied by multiple South Korean and non-South Korean companies in order to find out whether they can provide a satisfactory production yield. Likewise, SK Hynix is currently testing etching gases procured from South Korea, Taiwan
SK Telecom has launched the world's first 5G roaming service in cooperation with Swisscom, Switzerland's No. 1 mobile carrier.Swisscom with about six million subscribers launched its LTE roaming service with SK Telecom for the first time in Europe in July 2013.Swisscom launched its 5G servic