South Korea

Science & Technology

Samsung Reports Jump in Profit

Samsung Electronics on Tuesday, April 30, released information on its financial results for the first quarter of the current year, which showed significant growth, largely due to an increase in prices for memory chips amid increased optimism about the prospects for the development and scaling of the artificial intelligence industry.

Finance & Economics

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.

Science & Technology

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.

News

South Korea to Host Second AI Safety Summit

South Korea to host the second global AI Safety Summit.

Science & Technology

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.

News

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.

News

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.

News

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.

Science & Technology

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.

Science & Technology

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.

News

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.

News

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.

News

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.

News

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.

Science & Technology

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.

News

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).