Japanese Prime Minister Fumio Kishida has invited the heads of global chipmakers, including Samsung Electronics, to meet, in an apparent move to boost his nation’s chip industry, according to Japan’s Yomiuri Shimbun newspaper on Wednesday. The media outlet said a total of seven companies -- Samsung, TSMC, Intel, IBM, Micron, Applied Materials and Interuniversity Microelectronics Center -- will j...

CJ Logistics Corp., a major South Korean logistics company, said it has signed an initial agreement with Saudi Arabian firm Beez Logistics as part of its efforts to expand its business in the Middle East. With the memorandum of understanding, CJ Logistics will share its logistics experience, technology and network with its Saudi Arabian partner to provide delivery service that suits the country'...

TGS Group’s art investment business unit ArtFin signed a memorandum of understanding with The Korea Herald on Monday in a pledge to share Korean art with the world. Through the non-binding agreement, the two companies will cooperate to create a new wave of art investment, nurture a better environment and a bigger market for artists and investors. They will also support Korean artists to enter th...

By Lee Young SMEs and startups minister President Yoon Suk Yeol’s recent state visit to the US, the first such visit by a South Korean president in 12 years, has proven successful. Along with a joint statement, Korea and the US announced six agreements including the Washington Declaration, while securing $5.9 billion worth investments and 50 business deals. The two countries have confirmed the...

South Korean food giant Nongshim saw its profits nearly double in the first quarter, primarily led by its booming business in the US, the company's earnings report said Tuesday. According to Nongshim's regulatory filing, the company's sales and operating profits during the January to March period were tallied at 860.4 billion won ($643 million) and 63.8 billion won, respectively, on a consolidat...

Major companies in South Korea witnessed their operating profit nearly halve on-year in the first quarter this year, as the country’s key semiconductor industry struggles from its worst downturn, a corporate tracker said Tuesday. According to corporate data research institute CEO Score, the combined operating profits of 309 of the top 500 Korean companies by sales marked 25.8 trillion won ($19.3...

Ukraine’s top governmental officials called for Korea to take part in the reconstruction of the war-torn country following Russia's invasion at a meeting held by the Korea Chamber of Commerce and Industry in Seoul on Tuesday. The KCCI held a meeting under the title of “Korea-Ukraine Partnership for the Future,” in cooperation with the Embassy of Ukraine in Korea as high-ranking Ukrainian governm...

Thailand's largest conglomerate as well as a state-owned oil and energy company PTT called for investments from South Korean companies, in a bid to forge potential partnerships and scale up its businesses ranging from EVs to semiconductors, during a session organized by the Thai Embassy held in Seoul on Monday. During the session, the chief officer of PTT Buranin Rattanasombat said that PTT will...

Solidigm, an SK hynix subsidiary and NAND flash memory solutions provider, appointed a data center expert along with a mergers and acquisitions strategist as its new co-chief executive officers, the company said Tuesday. The two new CEOs are David Dixon, senior vice president and general manager of Solidigm's data center group, and Noh Jong-won, chief business officer of Solidigm and a president...

Hotel Lotte Co., a major hotel and duty-free shop operator in South Korea, has said its net profit sank 61 percent on-year in the first quarter, though it made a turnaround to an operating profit. Net profit came to 18.6 billion won ($13.9 million) in the January-March period, down from 48.6 billion won over the same period last year, according to the company's regulatory filing Monday. Hotel L...

World’s top memory chip maker revamping Japanese operations, taking advantage of chip materials, advanced packaging tech

The American Chamber of Commerce in Korea held a digital innovation forum on Monday, aiming to foster dialogue and exchange ideas about the rapidly expanding generative artificial intelligence industry with its stakeholders. The AmCham Digital Innovation Forum 2023, which was held for the second time this year at the Grand InterContinental Parnas, focused on the theme “The Industry Application a...

S. Korean chemical materials maker to double annual production of pure monomer resin

Kakao Pay aims to triple its annual number of transactions to 10 billion by 2026 with personalized services and perks

The government and the ruling People Power Party will hold a consultative meeting this week to decide on a hike in electricity and gas rates for the second quarter, officials said Sunday. The meeting will be held Monday to decide on the extent of an increase in electricity rates, which has been postponed for more than a month, according to officials from the ruling party. The government and the...