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Employees complain SK hynix 'scapegoat' in SK Group's cost-cutting measures SK hynix, the world’s second-largest memory chip-maker, is under fire despite announcing hefty incentives for staff following record-high profits in 2024, driven by the global artificial intelligence boom. While the company paid out its largest-ever bonus -- about 75 percent of annual salary -- many employees are expressing dissatisfaction, saying it is not enough. Last week, the memory chip giant announced it had achiev
Shinsegae Group’s e-commerce unit Gmarket announced Friday that it has partnered with Malltail, a global logistics and e-commerce provider, to strengthen overseas shopping services and competitiveness in the growing cross-border market. The two companies signed a strategic joint business plan Thursday, with Gmarket Sales Division head Lee Min-gyu and Malltail CEO Kim Hae-dong discussing plans to expand Malltail’s product offerings on Gmarket and boost marketing efforts throughout the year. Under
Samsung Electro-Mechanics, the electronic parts subsidiary of Samsung Electronics, said its annual revenue hit a record high last year, exceeding 10 trillion won ($6.99 billion) for the first time in the company’s history. The company said its revenue was 10.29 trillion won in 2024, up 15.8 percent from 2023. Its operating profit rose 11.3 percent from a year earlier to 735 billion won, driven by an expansion in the supply of high-value products. The company said booming demand for premium compo
New 'One UI 7' operating system delivers more personalized AI experience Samsung Electronics on Wednesday unveiled its flagship Galaxy S25 smartphone lineup, equipped with upgraded artificial intelligence features, camera functions and faster processors. The company says the device has opened “the advanced mobile artificial intelligence era.” The South Korean tech giant held its Galaxy Unpacked 2024 event at the SAP Center in San Jose, California, with thousands of journalists and industry profe
Samsung Electronics’ mobile head Roh Tae-moon said the South Korean tech titan’s latest flagship smartphone lineup has initiated the “true beginning of the artificial intelligence phone era.” “The Galaxy S25 series, powered by multimodal AI capabilities, offers the most natural and seamless mobile experience ever, enabling users to interact with their devices as if conversing with a friend,” Roh said during a press conference held in San Jose, California, on Wednesday, following the Samsung Gala
LG Electronics said Thursday it logged its highest-ever annual revenue in 2024, driven by sustained growth in its flagship home appliances and automotive electronics businesses. Sales reached a record 87.73 trillion won ($61 billion) last year, up 6.6 percent from a year earlier and surpassing the 82.52 trillion won reported in 2022. Operating profits for the year, however, declined by 6.4 percent on-year to 3.42 trillion won. Net income also saw a sharp decrease of 48.6 percent on-year to 591.4
Buoyed by record sales and profits, chipmaker offers rosy outlook as HBM leader SK hynix, the world's second-largest memory chip maker, logged its best-ever yearly earnings in 2024, successfully capitalizing on the global AI chip boom with its cutting-edge high bandwidth memory products. The company reported Thursday it achieved 66.1 trillion won ($46.1 billion) in sales in 2024, increasing by a whopping 102 percent on-year. The operating profit stood at 23.4 trillion won with an operating margi
South Korean stem cell research company Miracell announced Thursday that it recently hosted a session showcasing advanced hair loss treatments using stem cell technology, addressing the growing number of Koreans affected by the condition. The event, part of Miracell’s Cellpia Global Platform Academy, provided medical professionals with insights into cutting-edge stem cell therapies. Since its launch in 2019, the academy has served as a hub for sharing breakthroughs in regenerative medicine throu
Parental supervision features strengthened to protect from explicit content Instagram launched Teen Accounts in South Korea on Wednesday, a feature designed to protect teen users from explicit content and inappropriate contact. Since introducing the initiative last September, the social media app rolled out the protective account settings in the US and Australia before expanding to other locations. “(The Teen Account) aims to help keep teens safe on Instagram by limiting unwanted contact, showin
The South Korean government’s plan to introduce antimonopoly regulations targeting major domestic and global online platforms faces growing uncertainty following Donald Trump’s inauguration on Monday for his second term as US president. Concerns are mounting that Seoul’s proposed measures could lead to trade conflicts with Washington. Korea's antitrust watchdog and the National Assembly are pushing for a new act, the "Platform Competition Promotion Act," aimed at curbing monopolistic practices b
Despite strong 2024, Shinhan Financial’s profit dips in Q4
Use of facial recognition grows in Korean finance, with Toss in lead
Top hotel chains eye Hilton Seoul redevelopment
LG CNS posts record profit in 2024
LG CNS becomes Korea’s first SAP Asia-Pacific strategic services partner
KB Financial logs industry's first W5tr annual earnings