SK hynix secures $458m subsidy for US advanced chip packaging facility

SK hynix, the world’s second-largest memory chip maker, has finalized a deal with the US government to secure direct funding of up to $458 million for building its advanced chip packaging plant in the US, safeguarding the grant ahead of President-elect Donald Trump's second term. As the US Commerce Department finalizes chip grants for all four major chip manufacturers, including SK hynix, attention now shifts to when the crosstown rival Samsung Electronics will also complete the deal

Dec. 20, 2024

US govt. grants combined $958m subsidy to SK hynix

The US Commerce Department said Thursday it has decided to grant up to $458 million in direct funding to SK hynix Inc.'s project to build a new plant in Indiana. The US government will also provide up to $500 million in loans, both under the CHIPS and Science Act, according to the US Department of Commerce. In April, the company announced a plan to invest $3.87 billion to build a memory packaging plant for artificial intelligence products, and an advanced packaging research and development

Dec. 19, 2024

Korean chipmakers weigh options as Kioxia goes public

Kioxia Holdings, the world’s third-largest NAND flash memory chip-maker, made its market debut this week, drawing much attention from Korean rivals amid the evolving competition in the chip market driven by the era of artificial intelligence. Kioxia debuted on the Tokyo Stock Exchange's Prime Market on Wednesday, closing its first trading day 10 percent higher than the offering price. Its market cap stood at 863 billion yen ($5.62 billion). The initial public offering is expected to p

Dec. 19, 2024

LG chief envisions 'future unimaginable without LG' in New Year's address

LG Group Chair Koo Kwang-mo emphasized the conglomerate’s ongoing commitment to challenge and change, envisioning a "future unimaginable without LG" in a New Year’s address delivered to around 270,000 employees worldwide Thursday. Koo was one of the first major conglomerate chiefs here to deliver a New Year’s address. LG has been issuing New Year messages at the end of December since 2022 to help employees reflect on the past year and prepare for the next, according t

Dec. 19, 2024

[Photo News] World’s first wireless, transparent TV

LG Electronics announced Thursday the global launch of the LG Signature OLED T, the world’s first wireless and transparent TV. The 77-inch TV features a 4K resolution transparent screen with LG’s wireless transmission technology and the ability to switch between opaque and transparent modes at the push of a button. The opaque mode delivers stunning 4K picture quality, while the transparent mode offers an open view of the space behind the screen. Preorders are now open in North Americ

Dec. 19, 2024

LG Electronics CEO says working on strategic 'playbook' to navigate uncertainties in 2025

LG Electronics CEO Cho Joo-wan urged employees on Wednesday to embrace a mindset of "preparing for the worst and hoping for the best" to navigate a new year marked by uncertainties. During the year-end talk with employees, dubbed "CEO Fun Talk," Cho shared detailed insights into anticipated changes in the global business environment for 2025, amid intensifying global competition and supply chain issues. "A crisis is a combination of risk and opportunity. In times of cris

Dec. 18, 2024

Samsung to present AI-driven appliances at CES 2025

Samsung Electronics announced Wednesday that it will unveil a new lineup of home appliances powered by artificial intelligence at CES, the world’s largest tech trade show taking place in Las Vegas from Jan. 7-10, 2025. The lineup includes AI-driven refrigerators, washing machines and dryers designed to streamline household tasks and enhance connectivity. Central to these devices is Samsung’s “AI Home” solution, which allows users to remotely monitor and control all compat

Dec. 18, 2024

Looking for Korean friends? Check out Karrot

Karrot, the go-to app for buying and selling secondhand items, is increasingly becoming a hub for forging friendships, particularly among foreigners seeking language exchange opportunities in South Korea. In Seoul's Yongsan-gu on Tuesday, a search for “Korean friends” revealed several postings reflecting a growing trend of cross-cultural connections on the app, which is South Korea's largest community marketplace platform. One user, identified as "chamhug," wrot

Dec. 17, 2024

Hanmi Semiconductor heir promoted to chairman

Hanmi Semiconductor Vice Chair Kwak Dong-shin has been promoted to take the helm of the chip packaging equipment maker, after leading the development and launch of a flagship product used in producing next-generation artificial intelligence DRAM chips. Kwak joined the company in 1998, eight years after his late father Kwak Noh-kwon founded the company in 1980. Kwak Dong-shin has been the effective leader of the chip equipment firm since 2007, when his father stepped back from front-line manageme

Dec. 17, 2024

LG hires Capitol Counsel to strengthen Washington ties

South Korean electronics giant LG Electronics's Washington office has hired a new lobbying firm in the US to bolster its negotiating leverage with Washington, amid rising concerns over US President-elect Donald Trump’s tariff threats. According to a US disclosure report Tuesday, LG Electronics USA, the company’s US arm, has recently hired Capitol Counsel, a government relations firm in Washington, to lobby on trade and supply chain issues. Lisa Whisler, a lobbyist at the Capitol

Dec. 17, 2024

Economy's biggest fear is uncertainty, says SK chief

SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, on Tuesday urged policymakers to ensure consistent economic policies to support businesses amid growing uncertainty following the National Assembly’s impeachment of President Yoon Suk Yeol over his botched martial law decree. During a meeting with National Assembly Speaker Woo Won-shik, Chey relayed the business community’s concerns regarding stalled economic bills and the challenge of navigati

Dec. 17, 2024

AI near-aces college entry-level Korean exam

An artificial intelligence program has gotten a near-perfect score on the Korean language test of the state-run college entrance exam, according to the company behind the software. Korean startup company Markr AI said the o1-Preview model, developed by OpenAI, got all but one question right in the Korean language section of this year's Suneung, held in Nov. 14 and was used for 2025 college admissions. This gave the AI a score of 97 out of possible 100 points, which corresponds to a "

Dec. 17, 2024

LG unveils high-performance in-cabin camera module

LG Innotek said Tuesday it has developed a high-performance in-cabin camera module equipped with a 5-megapixel RGB-infrared dual sensor for automotive use. The new technology enables real-time monitoring of vehicle occupants, detecting driver conditions while checking seatbelt usage for front and rear passengers. With the rise of autonomous driving, demand for in-cabin monitoring systems has surged to ensure passenger safety. The key feature of LG’s solution is its versatility, offering mu

Dec. 17, 2024

Get ready for aggressive US trade policy: ex-Trump adviser

A former top trade adviser to US President-elect Donald Trump during his first administration warned that Trump's second term would likely adopt a more “aggressive” stance on trade, urging South Korean businesses to engage proactively with US officials to navigate potential challenges. Stephen Vaughn, a lawyer and former acting US Trade Representative, spoke at a seminar, titled "Trade Regulations Under Trump's Second Term: Risk Management and Strategies for Korean Com

Dec. 16, 2024

Calls grow for swift passage of stalled chips, AI bills

Business leaders are calling on lawmakers to expedite the approval of bipartisan, noncontentious bills on semiconductors and artificial intelligence, amid rising concerns that political uncertainty following President Yoon Suk Yeol’s impeachment could delay enactment of critical legislation, jeopardizing industry competitiveness. Finance Minister Choi Sang-mok on Sunday stressed the importance of passing legislation such as the Semiconductor Special Act, the AI Basic Act and the Expansion

Dec. 16, 2024

Micron reaches out to Korean talent in chip race against Samsung, SK

Amid intensifying competition to secure top talent in the critical semiconductor market, US-based Micron Technology is reaching out to Korean universities, offering students on-the-spot hiring opportunities and attractive benefits packages. In response, Korean chipmakers Samsung Electronics and SK hynix are also ramping up their efforts, forging partnerships with overseas universities and having their CEOs deliver speeches to appeal to young talent. Micron, the world’s third-largest DRAM m

Dec. 16, 2024

'Bigger concern lies in Korea’s ties with US, China'

From the shocking declaration of martial law to Saturday's impeachment of President Yoon Suk Yeol, foreign companies doing business in Korea have been cautiously monitoring the unfolding political crisis over the past two weeks. Their primary concern, however, is not the domestic turmoil itself, but Korea's tricky positioning amid the ongoing US-China trade war, which is expected to intensify under Donald Trump’s second presidency. “We have not really discussed the impact o

Dec. 15, 2024

Zyx Technology donates W1b in CAD licenses to Hanbat National University

South Korean design software developer Zyx Technology announced Friday that it will donate ZyxCAD licenses worth 1 billion won ($700,000) to Hanbat National University through a memorandum of understanding. The donation will allow more than 500 students and faculty members to use the firm's computer-aided design software for free over the next three years, the company said. ZYX Technology added that the partnership aims to foster innovation in design education, strengthen collaboration on a

Dec. 13, 2024

Samsung teams up with Google, Qualcomm for XR comeback

Samsung Electronics plans to launch its extended reality headset next year, developed in collaboration with US tech giants Google and Qualcomm Technologies. The launch is expected to intensify competition with Apple's Vision Pro and Meta's Quest. At the "XR Unlocked" developer event on Thursday at Google's New York campus, Google introduced Android XR, a new operating system designed for extended reality devices. Samsung also unveiled its first device powered by Androi

Dec. 13, 2024

Samsung to deploy first Open RAN in Latin America

Samsung Electronics is set to participate in the first-ever project to deploy an Open Radio Access Network in Latin America by teaming up with US-based telecom giant Liberty Latin America. The Korean tech giant’s network division will supply its virtualized radio access network solutions for the commercial Open RAN network in Puerto Rico, according to industry sources on Friday. Samsung has partnered with Liberty Puerto Rico, the US firm's local subsidiary with 870,000 subscribers, to

Dec. 13, 2024