Articles by Lee Ji-yoon
Lee Ji-yoon
jylee@heraldcorp.com-
After GOS scandal, Samsung touts Galaxy S22 sales, calls it ‘smooth ride’
Samsung Electronics said Wednesday its latest smartphone Galaxy S22 is highly likely to see 1 million unit sales at home this week, calling its sales performance a “smooth ride” despite unfavorable market conditions such as supply chain constraints and slowing domestic smartphone sales. According to the company’s preliminary estimates, the phone’s sales exceeded 900,000 units early this month, and the figure is expected to hit the 1 million mark on Friday, six weeks afte
Technology April 6, 2022
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From anti-aging to chip materials: Samsung unveils futuristic projects to fund
Samsung Electronics and its tech foundation said Tuesday they are spending a combined 48.65 billion won ($40 million) this year to fund 27 new research projects on futuristic technologies from anti-aging to new materials for chips. The tech giant has supported local researchers and their work through the Samsung Science & Technology Foundation since 2013. About 1.5 trillion won has been poured into supporting 735 projects involving 14,000 researchers at some 50 schools over the past decade
Technology April 5, 2022
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Rare Samsung-LG alliance imminent on OLED TVs: sources
A rare partnership between crosstown rivals Samsung and LG seems imminent, as they are finalizing talks on LG’s panel supply for Samsung’s upcoming OLED TVs, industry sources said Thursday. “Until early this year, the outlook for their partnership was dimming at least for this year. But the talks have recently been speeding up,” said an industry source on condition of anonymity. The source predicted the first panel shipments could start as early as September, considerin
Technology March 31, 2022
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SK Inc. pledges more shareholder benefits
SK Inc., the strategic investment arm of SK Group, on Tuesday pledged to enhance shareholder benefits while consolidating its investment portfolio centering on advanced materials, biopharmaceuticals and carbon neutrality. The holding firm of the nation’s third-largest conglomerate held a general meeting of shareholders at its Seoul headquarters earlier in the day, during which all agenda items, including financial statements for the fiscal year of 2021 and the reelection of SK Group Chai
Industry March 29, 2022
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First-quarter outlook upbeat for Samsung, SK hynix
Samsung Electronics and SK hynix, the world’s top two memory chip makers, are projected to post record first-quarter earnings this year over rising chip prices and robust demand, Yonhap Infomax, a local financial data tracker, said Monday. According to earnings consensus among securities firms here, Samsung, the No. 1 producer of memory chips, is forecast to record 75.21 trillion won ($61.34 billion) in sales and 13.89 trillion won in operating profits in the three months of this year, u
Industry March 28, 2022
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KCCI chief willing to join Yoon’s corporate agenda setting
SK Group Chairman Chey Tae-won, who doubles as head of the Korea Chamber of Commerce and Industry, on Wednesday showed high expectations about the private sector playing a bigger role in the agenda-setting process of the incoming Yoon Suk-yeol government. “I think it may be the time to rethink the role of the private sector,” Chey told reporters in an interview marking his first anniversary as the chief of the nation’s largest business lobby. “In the past, the governm
Industry March 24, 2022
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Samsung chief’s mother sells stakes to pay taxes
Hong Ra-hee, Samsung Electronics Vice Chairman Lee Jae-yong’s mother, reportedly sold her shares in the company worth 1.3 trillion won ($1.06 billion) in a block trade Wednesday, the latest stake sale by the Samsung family being carried out apparently to pay inheritance taxes. According to industry sources on Thursday, Hong entrusted the sale of her 0.33 percent stake in Samsung Electronics to KB Bank in September last year and the stake was sold in a block deal through Morgan Stanley an
Industry March 24, 2022
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LG Energy Solution, SK On win hefty incentives in US, Hungary
LG Energy Solution and SK On, two Korean battery makers that are increasingly expanding their production base in key markets for electric vehicles, have recently won hefty incentives in the US and Europe, respectively. On Tuesday, the state of Michigan approved a package of incentives worth about $600 million for LG Energy Solution, including $565 million in government subsidies and $132.6 million in tax cuts. The incentives come after the battery maker announced a new investment of $1.7 bil
Industry March 23, 2022
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Samsung heiresses to raise W400b in big share sales
Samsung Group’s two heiresses are reportedly seeking to raise about 400 billion won ($327 million) by selling their shares in Samsung SDS, the IT solutions unit, possibly in a move to secure funds to pay inheritance taxes. According to industry sources Tuesday, a combined 3.9 percent stake in Samsung SDS was sold in a block trade after Monday’s closing through KB Securities and Morgan Stanley. The price ranged between 127,400 won and 129,500 won apiece, about a 7 to 9 percent disco
Industry March 22, 2022
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Apple supplier in talks to acquire LG’s in-car wireless charging business
BH, a local display parts supplier for Apple and Samsung Electronics, said Monday it is in talks with LG Electronics to acquire the tech giant’s in-car wireless smartphone charging business. “Discussions are underway to acquire the in-car wireless smartphone charging business as part of efforts to diversity business portfolio and bolster competiveness,” the firm said in a regulatory filing in response to a news report earlier in the day. According to the report, BH is seeki
Technology March 21, 2022
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Samsung SDI hints at new EV battery plant in US
Samsung SDI CEO Choi Yoon-ho on Thursday hinted at the possibility of building the battery maker’s own plant in the US, a burgeoning market for electric vehicles where the company is setting up a joint venture with Stellantis, the maker of Jeep, Fiat and Peugeot vehicles. “Adding to the joint venture with Stellantis, we think there needs to be our own production base in the US,” Choi told reporters after a general meeting of shareholders in Seoul. “We are conside
Industry March 17, 2022
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Samsung CEO apologizes for stifling phone performance
Samsung Electronics Vice Chairman and co-CEO Han Jong-hee on Wednesday apologized over the escalating disputes surrounding performance issues of the tech giant’s latest flagship Galaxy S22. “We were unable to properly consider our consumer’s needs,” Han said as he bowed deep in apology in front of some 1,600 shareholders attending an annual general meeting both in-person and online. It was the first time that a top Samsung executive has offered an apology to the publi
Technology March 16, 2022
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Generational shift speeds up in chaebol leadership
Chaebol scions in their 40s and 50s are increasingly taking over their fathers’ sprawling business empires recently, speeding up a generational shift at South Korea’s family-run conglomerates. According to a report by chaebol tracker Korea CXO Institute on Tuesday, there were a total of 270 executives at the nation’s 200 largest companies who are scions of the ownership families born in 1970 or later. Of them, the number of those with the chairman title was 21, including tw
Industry March 15, 2022
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What to expect from Samsung’s shareholder meeting
Samsung Electronics will hold an annual meeting of shareholders on Wednesday, amid complaints growing over performance issues of its latest Galaxy phones and falling stock prices that failed to reflect the world’s top smartphone and chip maker’s robust earnings. The key agenda of the upcoming meeting is the appointment of four presidents, including Kyung Kye-hyun, co-CEO and head of chip business, and Roh Tae-moon, head of mobile business, as new internal board members. Industry w
Technology March 14, 2022
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A win-win: Korea-US FTA marks 10th year
South Korea and the US have seen their trade volume surge almost 70 percent since a free trade pact was signed in 2011, with their economic ties being enhanced as a key partnership to resolve the current supply chain disruptions. According to a report released Friday by the Korea International Trade Association that marks the 10th anniversary of the Korea-US Free Trade Agreement, trade volume between the two countries soared 67.8 percent to $169.1 billion last year from $100.8 billion in 2011.
Industry March 11, 2022
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