South Korea - page 3

News

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.

Science & Technology

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.

Finance & Economics

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.

Fintech & Ecommerce

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

Science & Technology

Samsung Competes With SK Hynix for Leadership in AI Sphere

The dynamic of changes in the value of shares of Samsung Electronics Co. currently demonstrates a movement in the direction of giving way to similar indicators of a smaller competitor of this company in the sphere of memory chip production SK Hynix, which is currently actively developing against the background of the bet of many […]

Finance & Economics

South Korea’s Nand Flash Memory Chip Exports Show Growth

According to the results of last month, an increase in South Korean exports of Nand flash memory chips was recorded.

News

Samsung Reports Slowing Fall in Profits

Samsung Electronics reported on the preliminary results of operations for the third quarter of 2023, which showed a less intense decline in profit compared to the expected figure.

News

South Korean Bank to Launch a Joint Crypto Custody Project With BitGo

KEB Hana Bank and BitGo are preparing to offer joint digital asset custody services

News

SK Telecom Invests Additional $100M in Anthropic AI

In addition to the investment, South Korea’s telecom operator has entered into a partnership agreement with AI provider Anthropic to build a large language model (LLM) customized for telcos

News

Samsung Cuts in Memory Chip Production

Samsung Electronics continues to implement a strategy to reduce the production of memory chips, including NAND flash memory, which is used in smartphones and computers.

Fintech & Ecommerce

Levit Raises $46 Million

Seoul-based e-commerce company Levit, the operator of the Alwayz shopping app, announced the raising of investment funds for $46 million following the results of the Series B financing round.

Science & Technology

OpenAI CEO Calls For Global Cooperation to Regulate AI

Sam Altman, CEO of OpenAI, during a visit to South Korea on Friday, June 9, called for coordinated international regulation of the process of development and dissemination of generative artificial intelligence.

Blockchain & Crypto

Korean Prosecutors Seek Crypto Millions Tied to Do Kwon and TerraUSD

The South Korean prosecutor’s office said that Do Kwon, after his arrest at the end of March, was able to withdraw tens of millions of dollars from an organization that is associated with his blockchain project, which suffered a crushing failure.