Samsung Electronics has entered a new round of competition with LG Electronics in the home appliance subscription services market by launching its own service centered on artificial intelligence products. Samsung announced Sunday the introduction of its AI subscription club service, which is available at the tech giant’s offline store nationwide and official online store. This service allows consumers to pay a monthly subscription fee to use home appliances for a certain period. By subsc

Samsung Electronics on Friday promoted a total of 137 executives in a year-end reshuffle, including tech-savvy executives with strong achievements in their respective areas, with a goal of reviving stagnant business performance. The total number of promotions is slightly down from last year’s 143, and includes 35 new vice presidents and 92 new managing directors. “Samsung Electronics carried out a major personnel reshuffle strictly based on the principle of meritocracy, with an aim t

Samsung Electronics Co. conducted a regular executive reshuffle Friday, promoting a new wave of younger employees to senior positions in a bid to place more focus on high-end technologies and overcome ongoing business challenges. "In response to the current business crisis, Samsung Electronics has adopted a meritocratic approach to human resource renewal, elevating proven talent to leadership roles," the tech giant said in a statement. "Young leaders with exceptional management pe

South Korean stocks opened lower Friday, led by declines in big-cap tech shares amid concerns about an economic slowdown. The benchmark Korea Composite Stock Price Index (Kospi) shed 32.29 points, or 1.29 percent, to 2,472.38 in the first 15 minutes of trading. The country's industrial output, retail sales and facility investment all fell on-month in October, deepening concerns about a lack of growth momentum, government data showed. Presenting a bleak growth outlook for 2025, the Bank of K

Samsung Electronics and SK hynix, the nation’s top two chipmakers, are apparently in a rush to secure subsidies for their massive facility spending in recent years in the US, following a fresh threat from President-elect Donald Trump that he could cancel the promised Chips Act federal funding. On Monday, Vivek Ramaswamy, one of the leaders selected by Trump to head the proposed Department of Government Efficiency alongside Tesla founder Elon Musk, hinted at the possibility of subsidy cuts,

South Korean stocks ended slightly higher Thursday, despite big-cap tech losses, as investors assessed the Bank of Korea's surprise back-to-back policy rate cut to spur growth. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 1.61 points, or 0.06 percent, to close at 2,504.67, ending a two-day losing streak. Trade volume was a bit slim at 333.44 million shares worth 7.37 trillion won (US$5.28 billion), with winners outnumbering los

Samsung Display CEO Choi Joo-sun will be relocating as the new chief of Samsung SDI, the battery-making unit said Thursday. Choi has a Ph.D in electrical engineering from the Korea Advanced Institute of Science and Technology. He has served in key positions at Samsung Electronics, including head of DRAM development in the memory division, head of strategic marketing and head of the America for the device solutions division. He later became head of the large display business unit and CEO of Samsu

Samsung SDS, the South Korean IT solutions affiliate of Samsung Group, said Thursday that it has appointed Lee June-hee, corporate executive vice president of the Network Business Division at Samsung Electronics, as its new CEO. Lee is recognized as an expert in information technology. He has played a key role in leading the commercialization of Samsung’s flagship smartphone Galaxy series and 5G networks at the tech giant. After graduating in electrical and computer engineering at Seoul Na

Samsung Display announced Thursday that it has appointed Yi Chung, head of mobile display business at the display maker, as its new chief executive officer. Yi has a Ph.D. in chemical engineering from Pohang University of Science and Technology. He is a seasoned expert in display technology, having accumulated extensive experience in liquid crystal display and organic light-emitting diode development and process technologies during his tenure at Samsung Electronics’ LCD Division and Samsun

South Korean stocks opened a tad lower Thursday, tracking overnight losses on Wall Street led by declines in big-cap tech shares. The benchmark Korea Composite Stock Price Index (Kospi) shed 3.05 points, or 0.12 percent, to 2,500.01 in the first 15 minutes of trading. Foreigners were on a selling mode, which offset buying by institutions and retail investors. Overnight, the Dow Jones Industrial Average fell 0.31 percent and the tech-heavy Nasdaq composite slid 0.6 percent as major tech shares lo

US President-elect Donald Trump posted on his Truth Social platform Monday that on Jan. 20, as one of his first executive orders, he will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on all products coming into the US. He also said that China will face 10 percent tariffs above any existing tariffs. This shows his will to implement strong protectionist trade policies right from his inauguration day. International trade rules are expected to be jolted. Trump said th

SK hynix on Wednesday announced plans to increase dividend payouts by 25 percent per share by 2027 as part of a broader strategy to boost corporate value amid the chipmaker's rapid growth in the artificial intelligence chip market. As part of its new shareholder return program, the company will raise annual dividends to 1,500 won ($1.08) per share over the next three years, up from the current 1,200 won. This will result in a total annual dividend payout of approximately 1 trillion won, SK

South Korean stocks closed lower Wednesday as investors offloaded semiconductor shares amid concerns that the incoming US administration may scrap subsidies for chipmakers. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 17.3 points, or 0.69 percent, to close at 2,503.06. Trade volume was moderate at 406.3 million shares worth 8.4 trillion won (US$6 billion), with losers outnumbering winners 516 to 372. Major tech shares lost ground after a sen

Samsung Electronics, the world's leading smartphone and memory chip maker, announced a management reshuffle on Wednesday, replacing the top brass at its sluggish chipmaking business division. While retaining the company's three vice chairs for management stability, the company replaced the foundry business chief and created two new positions to enhance operational efficiency. "The company sought to overcome uncertain internal and external business challenges and aim for a new brea

Samsung Electronics on Wednesday replaced its foundry business head in its year-end leadership reshuffle and created the new president-level position of chief technology officer in an apparent move to breathe fresh air into its sluggish foundry business. The tech giant promoted Han Jin-man, executive vice president and head of Device Solutions America, to president and head of its foundry business. After joining Samsung in January 1989, Han has held various roles, including leading DRAM and flas