Articles by Lee Ji-yoon
Lee Ji-yoon
jylee@heraldcorp.com-
Proxy battle looms at Samsung as Lee Jae-yong tightens grip
Lee Jae-yong’s formal ascension to the top seat at Samsung Electronics, the crown jewel of the nation’s largest conglomerate, is fueling speculation about potential changes in the founding family’s governance structure across Samsung companies. His promotion to chairman has long been considered a crucial step for Lee to wield more power at Samsung. With the new title, Lee’s vision for a “New Samsung” will take a clearer shape, while stalled talks on mega deals
Technology Nov. 2, 2022
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Samsung Electronics marks 53rd anniversary in low-key
Samsung Electronics on Tuesday marked the 53rd anniversary of its foundation in a toned-down event, out of respect for the victims of the recent deadly Itaewon crowd crush. The annual event, held at a convention center in Suwon, Gyeonggi Province, is typically one of the Korean tech giant’s biggest celebrations. This year in particular, speculation was running high that recently promoted Chairman Lee Jae-yong would unveil concrete plans for his “New Samsung” vision. But the moo
Technology Nov. 1, 2022
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SK C&C denies ignoring fire alerts at Kakao data center
SK C&C, the operator of the fire-hit Kakao Corp.’s data center, on Thursday denied a report that it had ignored two fire alerts made hours before the servers went down last week due to a fire in batteries. The company said its battery management system worked properly until the fire broke out at the SK facility in Pangyo, Gyeonggi Province, on Saturday, revealing the actual graph showing a stable movement both in electricity and voltage. A BMS monitors the temperatures across the batte
Technology Oct. 20, 2022
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[Newsmaker] Why SK chief calls K-food the next big thing
In a surprising move, SK Group Chairman Chey Tae-won has recently stepped up as an evangelist for hansik, or Korean food, even though his sprawling energy-to-chip business has no food subsidiary. Last month, he hosted a banquet at a fancy hansik restaurant in New York to invite a dozen UN ambassadors and introduced them Korean cuisine and its unique ingredients. He even appeared in a TV show as a main host to discuss ways to nurture K-food as a potent industry that appeals to the global audience
Industry Oct. 6, 2022
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Samsung has no plan to cut chip production
Samsung Electronics, the world’s largest memory chip maker, has denied any plans to reduce production of memory chips, amid widespread fear of an economic slowdown and falling chip prices. “We have no plan to do so for now,” Han Jin-man, senior vice president of Samsung’s memory chip business division, told reporters at a tech forum on Wednesday in San Jose, California, in response to a question about potential production reduction plans. Han’s remarks come as Sam
Technology Oct. 6, 2022
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LG Energy Solution launches two in-house ventures
LG Energy Solution said Wednesday it has launched two in-house ventures, called KooRoo and AVEL, allowing its employees more independence and flexibility to spur innovation in its battery business ecosystem. KooRoo is a battery as a service (BaaS) company that offers services based on data generated throughout the whole life cycle of batteries. Their first project is a battery pack replacement service for two-wheeled vehicles like an electric bicycle. AVEL is an energy as a service (EaaS) compan
Technology Oct. 5, 2022
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Samsung aims to produce 1.4nm chips from 2027
Samsung Electronics unveiled a five-year road map for its contract chipmaking business Monday, saying it would start producing chips using the 2-nanometer technology in 2025 and the 1.4-nanometer technology in 2027. The new plan came after the South Korean tech giant became the first chipmaker to produce chips on the 3nm production process, the most sophisticated chipmaking technology in the market, in June. Chips with smaller nanometer ratings are more powerful, as they can fit in more transist
Technology Oct. 4, 2022
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All eyes on SoftBank chief’s Seoul visit on Arm deal
SoftBank Group Corp. CEO Masayoshi Son arrived in Seoul on Saturday to meet business leaders, including Samsung Electronics Vice Chairman Lee Jae-yong, on a possible deal involving UK chip designer Arm. His visit comes after the Samsung chief hinted at their planned meeting late last month upon arrival from a business trip to the UK, where Arm is based. In the next day, Son also confirmed the meeting, saying he planned to discuss a strategic alliance with Samsung on Arm. Their possible meet-up r
Technology Oct. 3, 2022
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KEF holds annual meeting with Chinese ambassador
The Korea Enterprises Federation held a meeting with Chinese Ambassador to Korea Xing Haiming at a Seoul hotel on Thursday to discuss ways to further bolster economic ties between the two countries. KEF Chairman Sohn Kyung-shik and other business leaders representing major companies, including Hanwha, Doosan and Hyundai Motor, took part in the annual meeting that was launched in 2020. “Celebrating the 30th anniversary of their bilateral ties this year, South Korea and China are crucial par
Industry Sept. 29, 2022
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Samsung’s SmartThings devices exceed 10 million units
Samsung Electronics’ smart home platform SmartThings has hit the 10 million mark in connecting devices and home appliances around the world as of Sept. 12, the South Korean tech giant said Wednesday. Launched in 2018, the app aims to connect small and larger appliances from refrigerators and washing machines to air purifier and dishwashers via smartphones. More recently, Samsung is increasingly teaming up with other brands to bolster connectivity. The number of connected devices has double
Technology Sept. 28, 2022
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SK chief renews commitment to shared growth with local community
SK Group on Monday launched the Ulsan Forum, a regional communication channel where SK companies, experts, academics and the local community talk about the future growth direction of the city and the provincial economy. The launch comes as SK Innovation marked the 60th anniversary of its Ulsan CLX, the nation’s first oil refinery built in the industrial city, some 300 kilometers southeast of Seoul, back in 1962. Succeeding the annual Icheon Forum launched in 2017 in Icheon, Gyeonggi Provin
Industry Sept. 27, 2022
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SK chairman says corporate survival is key amid US-China tensions
Noting growing uncertainties surrounding the escalating US-China rivalry, SK Group Chairman Chey Tae-won said Wednesday that his priority at the moment is bracing for business survival itself, not seeking profits or efficiency. “The most urgent task is finding the way of survival under any circumstances,” the tycoon said at a press conference in Washington, where he was visiting to inspect local operations. “Rather than focusing on maximizing profits or efficiency like in the p
Industry Sept. 22, 2022
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[Photo News] Companion for the blind
A guide dog walks with a trainer during a press event at Samsung Guide Dog School in Yongin, Gyeonggi Province, Tuesday. Samsung Fire & Marine Insurance held the event to celebrate the 29th anniversary of the program, a pet project of the late Samsung Group Chairman Lee Kun-hee. Dogs for eight people were assigned to people after being trained for years. (Samsung Electronics)
Technology Sept. 20, 2022
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SK to invest W67tr to spur provincial economy
SK Group on Wednesday announced new plans to invest 67 trillion won ($48 billion) in provincial areas, including a cutting-edge semiconductor plant, for the next five years as part of efforts to expand production facilities at home and facilitate local economies. Earlier this year, the nation’s second-largest conglomerate had pledged to invest a combined 247 trillion won by 2026, with 179 trillion won of them being poured at home. The new announcement is part of the domestic investment pla
Industry Sept. 14, 2022
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[From the Scene] China’s TCL no longer an underdog
BERLIN -- At this year’s IFA trade show in Berlin, the world’s top two TV makers -- Samsung Electronics and LG Electronics -- both stressed that they will focus on upgrading the user experience and not the hardware itself. The South Korean tech rivals said they aimed to meet different consumer demands, especially those of younger generations, by offering more diverse products like a rotating TV for horizontal viewing or a bendable TV for gamers. Their emphasis on user experience is a
Technology Sept. 10, 2022
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