South Korea Q1 GDP Growth Exceeds Estimates
South Korea’s economy showed growth in the first quarter of 2024, which turned out to be the fastest in more than two years.
South Korea
SK Hynix Plans Chip Production Expansion
SK Hynix Inc. intends to spend about $14.6 billion on the construction of a complex for the production of memory chips in South Korea.
South Korea to Host Second AI Safety Summit
South Korea to host the second global AI Safety Summit.
South Korea to Invest in AI
South Korean President Yoon Suk Yeol said on Tuesday, April 9 that this country is investing 9.4 trillion won ($6.94 billion) in artificial intelligence.
Samsung Forecasts Jump in Profit
On Friday, April 5, Samsung Electronics released a forecast according to which the company’s operating profit for the first quarter of the current year will show growth in the form of a multiple increase in the corresponding indicator compared to the result for the same period in 2023.
US Reportedly Urges South Korea to Tough Export Controls on Chinese Chips
The media reported that the United States appealed to South Korea to decide on restrictions on the export of semiconductor technologies to China.
Alibaba Reportedly Plans to Invest $1.1 Billion in South Korea
The media reports that Alibaba Group intends to invest $1.1 billion in South Korea.
Samsung Electronics Posts Drop in Operating Profit
Samsung Electronics on Wednesday, January 31, published data according to which the company’s operating profit for the fourth quarter of last year showed a decline of 34.57% compared to the result for the same period in 2022.
AI Chip Startup Rebellions Secures $124 Million
The South Korean startup Rebellions Inc. announced that it managed to raise $124 million in financing from investors, including KT Corp., to accelerate work on the development of a new generation artificial intelligence chip, which is a kind of example of the growing interest in hardware that drives AI.
Amazon Portfolio Reaches Over 500 Solar and Wind Projects Globally
Amazon invested in more than 100 new solar and wind energy projects in 2023, expanding its portfolio to a size big enough to power 7.2 million U.S. homes annually.
US Overtakes China as South Korea’s Top Export Market
In December, shipments of goods produced by South Korean companies to the United States exceeded exports to China.
South Korea Chip Output Grows Rapidly
The semiconductor industry in South Korea is currently recording the best state of affairs in recent years, the material form of expression of which is associated with a rapid increase in production volumes.
South Korea Fines Global Banks for Illegal Naked Short Selling
South Korea has decided to impose a total fine of 26.5 billion won ($20.4 million) on two global investment banks and a local unit of an international company for involvement in naked short selling.
Samsung and ASML to Invest in Chip Plant in South Korea
The Dutch company ASML, which specializes in the production of equipment necessary for making chips, together with the South Korean firm Samsung Electronics, engaged in manufacturing microcircuits, is investing $760 million in the building of a plant for the development of cutting-edge semiconductor processing technologies.
Bank of Korea Plans to Launch Retail CBDC Pilot Program
The Bank of Korea intends to launch a pilot program for its retail central bank digital currency (CBDC).
Ant Group Partners PayNet for Cross-Border Digital Payments
Travellers with Ant Group’s Alipay+ partner e-wallets from China, Hong Kong, Philippines, Mongolia, Macau, Japan, South Korea and Thailand can now make QR payments at over 1.8 million PayNet’s DuitNow touchpoints across Malaysia
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