Samsung set for record W100tr quarterly profit on memory boom

Samsung Electronics is poised to break the 100 trillion won mark in quarterly operating profit for the first time, as booming memory chip sales drive another record quarter. The company is expected to report third-quarter operating profit of 108.1 trillion won ($80.2 billion), up nearly ninefold from a year earlier, on revenue of 201.7 trillion won, according to brokerage estimates compiled by FnGuide as of Monday. Samsung releases preliminary earnings guidance Thursday. The forecasts imply reve

2026-10-05 13:45:12:00

Korea kicks off US investment plan with $22.3b Texas power project

South Korea and the US on Thursday unveiled the first initiatives under Seoul’s $200 billion investment commitment, led by a confirmed Texas gas-fired power project. A proposed eight-reactor nuclear program still requires approval, while participation in an Alaska liquefied natural gas project remains under review. The distinction emerged after US President Donald Trump presented all three as firm commitments. South Korean Industry Minister Kim Jung-kwan stressed that the nuclear and Alaska prop

2026-10-01 06:07:56:00

AI agents will rewrite rules of work: Samsung CEO

Samsung Electronics co-CEO Jun Young-hyun said Wednesday that AI agents will fundamentally reshape work and corporate culture, setting the agenda for the company’s annual artificial intelligence forum in Seoul. “Agentic AI will bring fundamental changes to the way we work and to corporate culture, beyond technological innovation,” Jun said, adding in opening remarks that Samsung will work with global AI leaders to identify the direction of the technology and pursue practical innovation. Samsung

2026-09-30 17:26:57:00

Naver offers Papago, Naver Works to support UNGC network

Naver CEO Choi Soo-yeon has proposed using the company’s artificial intelligence-powered services, including Naver Works and Papago Plus, to improve communication and collaboration across the UN Global Compact’s global network, the company said Wednesday. Choi presented the idea at a UNGC board meeting held at UN Headquarters in New York on Sept. 19. UN Secretary-General Antonio Guterres and Assistant Secretary-General of the United Nations Global Compact Sanda Ojiambo were among participants di

2026-09-30 17:26:18:00

Samsung commits $1b to KKR-led AI infrastructure push

Samsung is committing $1 billion to a KKR-led AI infrastructure venture, joining Nvidia and other major investors in a push to build data centers and the power systems needed to run them. Six affiliates will invest in Helix Digital Infrastructure, the conglomerate said Tuesday. Samsung Electronics will provide $500 million, with Samsung C&T, Samsung SDS, Samsung SDI, Samsung Life Insurance and Samsung Fire & Marine Insurance contributing the rest. The deal expands Samsung’s role from supplying A

2026-09-29 13:28:02:00

Seoul awaits US go-ahead for $22.3 billion Texas power project

The first project under South Korea’s $200 billion US investment program is awaiting Washington’s final approval, despite Seoul completing its domestic procedures, the industry ministry said Monday. Seoul briefed parliament on Sept. 22 on three projects discussed with US officials, paving the way for an expected US announcement. Washington has yet to make one. “Our procedures are all complete, and it is now in the hands of the US,” a ministry official said, adding that no new disagreement had em

2026-09-28 16:47:26:00

Hanwha Aerospace, KAI team up on long-range missile for KF-21

Hanwha Aerospace and Korea Aerospace Industries have agreed to cooperate on a domestically developed long-range air-to-air missile and its integration with South Korea’s KF-21 fighter jet, the companies said Wednesday. Under the agreement, the companies will work together on the missile’s development and support its integration with the KF-21 once development is complete. The effort is intended to enable the South Korean fighter to operate with a domestically produced weapon. The agreement build

2026-09-23 12:33:25:00

Kakao ramps up won-based stablecoin push with new partnerships

Kakao Group is expanding partnerships with companies including Southeast Asian superapp Grab, leading Thai financial technology group SCBX and South Korea’s Kyobo Life Insurance as it prepares to build a won-based stablecoin ecosystem. The South Korean technology group, which includes Kakao, KakaoBank and Kakao Pay, said on Wednesday it aimed to establish a value chain covering the issuance, distribution, payment and transfer of won-denominated stablecoins once the country introduces a regulator

2026-09-23 11:03:30:00

LG Electronics, SK Enmove team up on AI data center cooling

LG Electronics and SK Enmove have agreed to jointly develop next-generation cooling materials and technologies for artificial intelligence data centers and other high-heat applications, the companies said Wednesday. Under the agreement, the two will collaborate on low-emission refrigerants, compressor lubricants and immersion cooling systems for residential, commercial and industrial equipment. The partnership combines LG’s heating, ventilation and air-conditioning systems expertise with SK Enmo

2026-09-23 10:04:37:00

China's grip on LCD supply tests Samsung, LG in holiday TV push

China's biggest display makers are flexing their pricing power, seeking higher payments for large LCD panels just as Samsung Electronics and LG Electronics are set to ramp up production for the year-end shopping season. BOE Technology recently told customers it would apply revised prices from the fourth quarter, according to industry sources Tuesday. In a notice, the Chinese display giant cited higher procurement and supply costs caused by fluctuations in raw-material prices and shifts in global

2026-09-22 12:58:07:00