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April 03, 2024
Samsung, GS win record gas plant deals in Saudi Arabia
South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the...g gas plant located some 350 kilometers northeast of Riyadh, Saudi's capital, by Novemb...
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April 03, 2024
Renault Korea overhauls brand strategy to overcome sluggish performance
...nged sluggish sales. The company announced a change of its official corporate name from Renault Samsung Motors to the more simplified Renault Korea. It also announced that it will begin using the gro...e typhoon-shaped one that it has used since 2000, when it was sold to Renault from S...
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April 03, 2024
Samsung Electronics to release new products globally at same time
Samsung Electronics on Wednesday unveiled its latest lineup of home appliance innovations with the global launch of its artificial intelligence (AI)-powered products in a bid to offer synchronizing c...ances for each distinct market. "We hold these media events in Paris and New York late...
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April 03, 2024
S. Korean firms win $7.2b gas plant deal in Saudi Arabia
Samsung E&A and GS Engineering & Construction (GS E&C) have won a combined $7.2 billion deal to expand a gas plant in Saudi Arabia, the biggest order for South Korean companies in the Middle Eastern ...ct in the United Arab Emirates and the $7.7 billion Bismayah New City project in Iraq, ...
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April 02, 2024
Korea urged to step up incentives for chipmakers
...through 2030. On the other hand, South Korea, home to the world's two largest memory chipmakers Samsung Electronics and SK hynix, has been pointed out as lacking such direct support programs. The bi...akers is a corporate tax break for facility investment of 15 percent for large corpo...
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April 02, 2024
Biz community bids final farewell to late Chairman Cho Suck-rai
...an, China and other major economies, Cho played a prominent role in regional business associations, such as the Pacific Basin Economic Council and the Korea-U.S. Business Council. During his five-day mourning period, a number of South Korean political and business leaders, including Prime Minist...
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April 01, 2024
Samsung Bioepis launches half-priced Soliris biosimilar
Samsung Bioepis, a biosimilar developer under Samsung Group, announced Monday that the company decided to launch its Soliris biosimilar Epysqli in Korea at a price nearly 50 percent cheaper than the original drug. Epysqli is a biosimilar referencing Soliris, a high-cost drug fo...
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April 01, 2024
More women break glass ceiling on financial group boards
...Korean Academic Society of Taxation. Including Yoon, three board seats out of nine went to women at Shinhan Financial Group. Hana Financial Group added Yoon Shim, former senior vice president of Samsung SDS, to the board, increasing the female director number from one to two. The pus...
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April 01, 2024
Samsung CEO vows High Bandwidth Memory leadership
Memory chip aside, Samsung also runs foundry and logic chip design businesses and aims to become the world's top memory chipmaker by 2027. "Clients’ interest is also growing in the Mach-1, which is ... faster than we expected." Naver, South Korea's IT giant, is expected to be the first...
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April 01, 2024
Family, business leaders mourn Hyosung honorary chairman
...ited the funeral to pay respect for two days in a row. At the time, Cho recalled the late former Samsung chief as a "warm-hearted" man, telling the story of Lee giving him two dogs as a gift. Hong st... husband Kim Jae-youl, president of Samsung Economic Research Institute. ...
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March 29, 2024
Daughter of late Samsung chairman becomes Samsung C&T president
Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction ...
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March 29, 2024
Samsung opens AI TV experience zone in Singapore Changi Airport
Starting with Singapore, Samsung plans to make a sales push on AI TVs in the Southeast Asia and Oceania markets, the company said. “Based on our technologies that have led the global TV market for 1...connection experience to more consumers in those regions,” said Jo Sang-ho, president...
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March 28, 2024
Korea’s CMO ramp-up lures biotech investors
...al said. Songdo has successfully created an ecosystem for the bio-industry over the past few years, and it is now home to numerous international bio companies, with Korean biopharmaceutical giant Samsung Biologics being the key driving factor. Samsung Biologics, one of the b...
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March 28, 2024
Trade ministry, US bio firm Thermo Fisher discuss investment
... manufacturing hub of bio and pharmaceutical goods," Cheong said. "South Korean firms, including Samsung, Lotte and Celltrion, are rolling out aggressive investment to bolster their production capacit...io sector but also in areas that include batteries and chips. Thermo Fisher supplie...
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March 27, 2024
SK hynix aims to boost profits with advanced HBM chips
... elections, so we will be watching closely for changes in the external environment." Kwak said. SK hynix is the current leader in the HBM market, securing about 53 percent of market volume, while Samsung takes about 38 percent, according to TrendForce, a market tracker. US-based Micron...
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March 25, 2024
How TV remote button shortcuts for streamers have led to major profit for Samsung, LG
... blue shortcut buttons with Netflix and Disney+ logos to fancier features and operating systems, Samsung Electronics and LG Electronics, the world’s top two TV makers, are pouring resources into conte...ng subscription fees have turned to avenues that offer TV content for the cost of w...
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March 25, 2024
L&F signs W13.19tr deal to supply cathodes to SK On
...company said in a regulatory filing. The 300,000 tons of cathode materials will be installed in 3 million electric vehicles, it said. The two companies plan to jointly develop next-generation battery products and strengthen partnership in diversifying SK On's product portfolios. SK On is one o...
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March 25, 2024
Competition heats up in HBM market as Nvidia endorses Samsung chip
In order to secure an edge, Samsung announced it has developed 12-stack HBM3E, with the industry’s largest capacity of 36 gigabytes, and said it plans to start volume production in the first half of ...e generative AI, DDR RAMs in all data centers will be replaced by HBMs, and the upgrad...
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March 25, 2024
Bithumb set to spin off non-exchange biz in IPO push
... been pushing to become the first cryptocurrency exchange operator to go public in Korea. Primarily considering a listing on Korea's secondary tech-laden bourse Kosdaq, it selected local brokerage Samsung Securities as its lead underwriter in November. The IPO plan is considered to be ...
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March 25, 2024
Executives get paid 11 times more than average employees: report
...ves compared to the average 54.4 million-won salary for other employees. Executives working for Samsung Group, South Korea's biggest conglomerate, make 2.21 billion won in salary which is 18.9 times ...oyees were working at ship-manufacturer HMM at 123.3 million won, SK Group at 117.5 ...