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July 11, 2024
Samsung invests W72b in US fund for AI-driven biotech
Samsung C&T and its biotech subsidiaries Samsung Biologics and Samsung Bioepis, announced Thursday they would invest 72 billion won ($52 million) in a US fund focused on startups using AI-based new power drug development platform technologies. The investment will be m...
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July 11, 2024
Samsung unveils slimmer AI-powered foldable phones
Samsung Electronics unveiled its new slimmer and lighter foldable phones -- the Galaxy Z Flip6 and Z Fold6 -- in Paris on Wednesday, betting big on the Olympics fever brewing in the French capital. ... be available for customers who purchase the new phones at the company’s online shoppi...
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July 10, 2024
Texas governor vows full support for Samsung’s expansion in US
Texas Gov. Greg Abbott on Tuesday reiterated his full support for Samsung Electronics to secure a bigger footing in the US, upon his visit to the chip giant’s semiconductor manufacturing plant in Kor...eadquarters across the entire globe and have found none better,” Abbott said of his v...
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July 10, 2024
Samsung wins first order for cutting-edge 2 nm turnkey chip solution
Samsung Electronics announced Tuesday it has bagged the first order for its new turnkey semiconductor solutions using the cutting-edge 2-nanometer foundry process from a leading artificial intelligen...p Rebellion set up booths to present their solutions for Samsung's foundry cl...
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July 09, 2024
Samsung wins order for cutting-edge 2 nm turnkey chip solution
Samsung Electronics announced Tuesday it has bagged an order for its new turnkey semiconductor solutions using the cutting-edge 2-nanometer foundry process from a leading artificial intelligence comp...p Rebellion set up booths to present their solutions for Samsung's foundry cl...
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July 09, 2024
Samsung denies report on Olympic edition phone with LVMH
Samsung Electronics denied a report Tuesday that it is launching a special edition phone in collaboration with French luxury giant LVMH during the Galaxy Unpacked event for its new foldable phones held in Paris on Wednesday. A Samsung official said the tech giant is not teaming...
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July 08, 2024
Samsung, SK bet big on glass substrates for AI chips
South Korea’s top chip makers Samsung Electronics and SK hynix are betting big on glass substrates, a “game changer” in chip making that could drastically boost the data capacity and speed of semicon...airman Chey Tae-won inspected the headquarters of Absolics last week during his trip...
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July 08, 2024
[Business Diplomacy] Importance of tracking money in politics
... the same period, the Korea Trade-Investment Promotion Agency, or KOTRA, has spared $121 million to become the 10th biggest foreign principal to lobby in the US. Korea’s top conglomerates such as Samsung, Hyundai Motor, SK and LG have spent millions of dollars as they expand their bus...
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July 08, 2024
Samsung workers' union kicks off first-ever strike
Unionized workers of Samsung Electronics launched their first-ever strike Monday, demanding higher pay and warning of potential further action if the country's largest conglomerate does not meet their demands. The National Samsung Electronics Union, the nation's biggest labor u...
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July 05, 2024
Samsung projects 15-fold surge in Q2 profit
Samsung Electronics predicted Friday that its operating profit in the April-June period would rebound to exceed 10 trillion won ($7.3 billion), driven by a recovery in demand for memory chips and rising prices on the back of the expansion of the artificial intelligence market. Samsu...
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July 05, 2024
Samsung SDI clinches W1tr energy storage deal with top US electric utility
Samsung SDI is set to supply energy storage solution batteries worth 1 trillion won ($724 million) to NextEra Energy, the largest electric utility in the United States. Industry sources report that Samsung SDI is finalizing a contract to provide batteries with a total capacity ...
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July 05, 2024
Value-up Program optimism brings Kospi to two-year high
...ack, other financial group stocks including Shinhan, Hana, BNK and JB also notched strong gains. Samsung Life Insurance gained over 3 percent to become the stock with the 19th-highest value in terms o...ck, will be cut by 5 percent points, starting from the second half of this year. Ma...
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July 03, 2024
Samsung to boost display investments in Vietnam
Samsung Electronics Chairman Lee Jae-yong on Tuesday renewed his commitment to boosting investment in Vietnam, where the company remains the biggest foreign investor, during a meeting with Vietnamese...of about 90,000 people. In 2023, Samsung Vietnam exported $55.7 billion, acco...
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July 02, 2024
[Business Diplomacy] Time matters more than money in engineering lobbying prowess
...intensifying competition between the US and China, Korean conglomerates have been seen significantly ramping up their spending in lobbying, renewing their Washington offices and increasing staff. Samsung Electronics, with its key items being smartphones and advanced chips, spent the mo...
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July 02, 2024
Unionized Samsung workers to stage 3-day walkout
Unionized workers of Samsung Electronics have said they will stage a three-day walkout beginning July 8, as their negotiations with management over wages and working conditions have so far failed. The National Samsung Electronics Union, the largest among multiple Samsung
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July 02, 2024
LG Energy Solution lands major LFP battery deal with Renault
...ies, which are now being adopted by premium brands such as Tesla, Volkswagen, and Mercedes-Benz. In response to this market shift, LG Energy Solution, along with other South Korean battery makers Samsung SDI and SK On, have expanded their LFP battery development efforts. “This contra...
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July 01, 2024
Global memory chip market picks up amid AI boom
... due to the capacity squeeze from HBM production," TrendForce said in its analysis, referring to Samsung Electronics, SK hynix and Micron Technology for the major suppliers. HBM products use about th...I sector is expected to drive orders for high-capacity SSDs. In the first quarter o...
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June 30, 2024
Foreign buying of Korean shares soars to new record in H1
...vestors turned to net buying again in June, racking up 5.23 trillion won. The market bellwether Samsung Electronics was the most bought stock for offshore investors as they racked up shares worth 7.9...llion won, followed by SK hynix at 3.8 trillion won, Hyundai Motor Company at 3.45 t...
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June 27, 2024
Korea-US-Japan trilateral economic consultative group launched
... and confirmed our willingness to cooperate on developing trilateral industrial cooperation and joint responses to global risks." The meeting was attended by eight companies from Korea, including Samsung Electronics, SK, Hyundai Motor Company, Hanwha, Posco, Hyosung and LS; 10 companie...
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June 27, 2024
SK chief meets with big tech CEOs in US
...telligence, including (SK hynix') High Bandwidth Memory to gear up for the coming AI in the next 2-3 years. SK Group, the country's second-largest conglomerate in terms of assets, has been speeding up efforts to overhaul its 213 affiliates, which is about triple the number of affiliates other co...