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

Industry Dec. 20, 2024

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

Industry Dec. 19, 2024

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

Industry Dec. 18, 2024

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

Industry Dec. 17, 2024

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

Industry Dec. 17, 2024

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

Industry Dec. 16, 2024

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

Industry Dec. 15, 2024

The National Assembly on Tuesday approved next year's national budget of 673.3 trillion won ($470.5 billion), reduced from the government's original proposal under pressure from the majority-held main opposition bloc. The final package is a 2.5 percent gain from that of this year's but about 4.1 trillion won less than the government’s proposal. The bill passed 183-94 with 1 abstention in an assembly where the main opposition Democratic Party of Korea holds a majority of 170

Industry Dec. 10, 2024

Chinese chipmakers are posing challenges for South Korean memory chip giants, flooding the global market with legacy chips at half the market price amid slowing demand. With the price of the older DRAM chips plunging more than 30 percent, market analysts lowered the earnings prospects for Samsung Electronics and SK hynix, the world's top two memory chip makers. According to DRAMeXchange on Monday, the spot price of 8 gigabyte DDR4 chips for computers fell to $1.35 in November, marking a 35.

Industry Dec. 9, 2024

South Korean home appliances giant LG Electronics is aiming to cement its presence in India, going for an initial public offering in the country, where the firm is a leader in the premium TV and air conditioner market. On Friday, the company’s Indian arm filed for an IPO with the Securities and Exchange Board of India, a draft red herring prospectus from the company showed. LG Electronics, the parent company that fully owns the Indian entity, will sell 101.8 million shares, accounting for

Industry Dec. 8, 2024

Network failures and service disruptions occurred in key areas of Yeouido and Gwanghwamun in Seoul on Saturday, as thousands of citizens filled the streets ahead of the impeachment vote for the embattled President Yoon Suk Yeol. “I could not send any messages on KakaoTalk or Telegram when I reached the front of the National Assembly. My connection was restored when I moved farther away from the Assembly,” a protester said. Media outlets seeking to livestream the rally in front of the

Industry Dec. 7, 2024

Conservative groups of professors and former diplomats separately issued statements on Saturday to oppose the impeachment of the embattled President Yoon Suk Yeol, who came under fire after declaring martial law this week. A right-leaning group of former diplomats, comprising some 230 members, claimed the impeachment motion was illegitimate, having been written without much consideration in only half a day. “Impeachment is not a political decision but a constitutional mechanism that requir

Politics Dec. 7, 2024

SK Group, the country's second-largest conglomerate, carried out a relatively modest year-end reshuffle Thursday, focusing largely on organizational restructuring to boost core competence under the three key themes, technology, field expertise and global presence. With the goal to enhance its US presence, the conglomerate appointed a former chief of the US Trade Representative to oversee government relations at SK Americas. The group also sought for restructuring of SK hynix, its lucrative

Industry Dec. 5, 2024

Although South Korean President Yoon Suk Yeol's surprise declaration of martial law did not make it even through the night, such political unrest in a country home to leading tech giants could result in long-term market fallout, potentially weakening Korea's role in the global supply chain of critical technologies such as chips, experts said Wednesday. In the hours after martial law was declared, the Korean won fell to its lowest level against the US dollar in three years, while Korea-

Industry Dec. 4, 2024

The latest US export controls banning shipments of high-bandwidth memory chips to China are expected to have a limited impact on Korean chipmakers, mainly Samsung Electronics. But the restrictions could result in lost opportunities to acquire new customers, experts said Tuesday. The US Bureau of Industry and Security announced Monday a new set of measures banning the export of critical chips and chip equipment, including HBM, advanced chip packages of stacked DRAM chips. The cutting-edge chips a

Industry Dec. 3, 2024