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

Industry Nov. 29, 2024

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,

Industry Nov. 28, 2024

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

Industry Nov. 27, 2024

As Samsung Electronics is grappling with multiple challenges including poor earnings and technological setbacks, the conglomerate's chaebol chief has publicly acknowledged the struggles for the first time. With chairman Lee Jae-yong pledging to tackle the difficulties, the tech giant is expected to introduce some drastic changes, including a major personnel reshuffle anticipated this week. In the final hearing of a retrial on allegations including stock manipulation related to a controversi

Industry Nov. 26, 2024

Prosecutors requested five years in prison and a fine of 500 million won ($356,000) for Samsung Electronics Chairman Lee Jae-yong on Monday, in the final hearing of a retrial over suspected stock manipulation related to a high-profile 2015 merger case. The prosecution had appealed in February immediately after a lower court acquitted Lee of all 19 charges it had filed. In the appellate court on Monday, the prosecution kept to their original claims, insisting the chief of the country's large

Industry Nov. 25, 2024

Samsung Electronics, the world's largest memory chip maker, is expected to supply its cutting-edge chips to the top graphics processing unit maker Nvidia soon, stepping closer to securing a footing in the lucrative AI chip market. Speaking on the sidelines of a convocation ceremony at Hong Kong University of Science and Technology on Saturday, Nvidia CEO and founder Jensen Huang told Bloomberg Television that the company is "working as fast as it can to certify Samsung's AI memory

Industry Nov. 24, 2024

Amid intensifying competition for chip supremacy, Korean lawmakers are pushing to lift the national cap on working hours to give chipmakers more flexibility. The ruling party's proposal, however, has sparked mixed reactions, with critics labeling it "regressive." In South Korea, home to the world's top memory chip makers Samsung Electronics and SK hynix, employees are prohibited from working more than 52 hours per week -- consisting of 40 regular hours and up to 12 hours of o

Industry Nov. 19, 2024

Korean tech giants Samsung Electronics and LG Electronics were recognized with a slew of prizes at the CES 2025 Innovation Awards for their newest products, ahead of the world’s largest tech trade show set to be held in Las Vegas in January. In this year’s program, Samsung won 29 awards, including four best of innovation products, while LG received 24 awards with three top innovation winners. The Consumer Technology Association organizes the annual competition honoring outstanding de

Industry Nov. 15, 2024

South Korean chipmakers Samsung Electronics and SK hynix will showcase their latest chips for artificial intelligence applications and supercomputing at Supercomputing 24, the largest international conference on high-performance computing, next week. The annual event which first kicked off in 1988 and is organized by Association for Computing Machinery and the IEEE Computer Society, will take place at the Georgia World Congress Center in Atlanta, from Sunday to Nov. 22. The Korean chipmakers wil

Industry Nov. 14, 2024

Solidigm, an SK hynix-affiliated NAND flash memory solutions provider, said Wednesday it is launching a new enterprise solid-state drive boasting the industry's largest capacity of 122 terabytes for AI data centers. According to the memory chip maker, the new eSSD solution D5-P5336 has been developed based on its quadruple-level cell technology, storing four times more data than conventional eSSDs. "We were the first chip firm to commercialize the QLC-based high-capacity SSDs, supplyin

Industry Nov. 13, 2024

Samsung Electronics, the tech giant known for its independence as a manufacturer, made a surprise announcement last month hinting it may outsource a key component of its cutting-edge artificial intelligence chips to its Taiwanese rival TSMC. Experts say this comes as the world's largest memory chip maker faces mounting pressure from its global competitors in the increasingly crucial AI chip sector, a headwind that has directly contributed to Samsung's earnings slowdown. “We are c

Industry Nov. 13, 2024

Japan’s JSR Corporation, the world's top photoresist manufacturer, kicked off construction of its first semiconductor photoresist factory in Cheongju, North Chungcheong Province, on Tuesday. The new plant, being built under its Korean unit JSR Micro Korea, is set to become operational in 2026 and start supplying its advanced photoresist metal oxide resist (MOR) to Korean chipmakers, including Samsung Electronics and SK hynix. MOR has been rising as a cutting-edge alternative to low-qu

Industry Nov. 12, 2024

Korean specialty chemicals and materials maker Hansol Chemical said Monday it has filed a complaint with the local antitrust authorities against Chinese TV maker TCL for the misleading advertising of its latest TV sets. The Korean firm accused TCL, China’s largest TV manufacturer, of falsely branding its liquid crystal display TVs as “QD TVs” even though they actually contain no QD or quantum-dot materials that help enhance image quality. Higher-priced QD-incorporated LCD TVs,

Industry Nov. 11, 2024

South Korea’s second-largest conglomerate SK Group announced Monday its commitment to further enhance its governance structure by expanding the board's role beyond decision-making to setting directions and evaluating performance, intent to better navigate the era of artificial intelligence. At SK Directors’ Summit 2024 in Seoul on Thursday, SK Group Chairman Chey Tae-won and chief executives of the group’s affiliates, including Choi Chang-won, the head of the group’s

Industry Nov. 11, 2024

South Korean display maker LG Display announced Sunday it succeeded in developing the world’s first stretchable display capable of expanding up to 50 percent, the highest elongation rate within the industry. The latest breakthrough, the outcome of five years of research, was unveiled during an industrial gathering at LG Science Park in Seoul on Friday. LG's new prototype features a 12-inch screen that stretches up to 18 inches while delivering a high resolution of 100 pixels per inch

Industry Nov. 10, 2024