Naver Global Investment Officer and founder Lee Hae-jin and Chief Executive Officer Choi Soo-yeon met with Jensen Huang, the co-founder and CEO of Nvidia, to discuss strengthening their partnership in the rising artificial intelligence technology, according to the Korean internet giant Thursday. Naver’s key executives, including Lee, Choi and Naver Cloud CEO Kim Yoo-won met with Huang at Nvidia’s headquarters in Santa Clara, California on Tuesday. During their meeting, the executives

Industry June 28, 2024

SK Group Chairman Chey Tae-won is in the US to meet with leaders of big tech firms, including OpenAI and Microsoft, and discuss collaboration opportunities in artificial intelligence. Via social media on Thursday, Chey posted photos of himself shaking hands with Sam Altman, the chief executive officer of OpenAI, and Microsoft CEO Satya Nadella, taken in separate meetings in the US. "I am traveling in San Francisco and Seattle and meeting with IT leaders every day. They are so welcoming to d

Industry June 27, 2024

South Korea’s rival parties are introducing stronger chipmaking support bills to boost the domestic semiconductors industry, sharing the consensus that existing policies are not sufficient for Korean chipmakers to compete against global rivals backed by massive financial grants. On Tuesday, Rep. Kim Tae-nyeon of the main opposition Democratic Party of Korea introduced a bill that involves a whopping 100 trillion won ($72 billion) subsidy program. Kim's proposal seeks to extend an exis

Industry June 26, 2024

Samsung Electronics, the world’s largest maker of memory chips, announced Tuesday it built the industry’s first certified Compute Express Link infrastructure, a crucial step not just for its product verification, but also for creating an open-source ecosystem. Samsung Memory Research Center, located in Hwaseong, Gyeonggi Province, received the certification from Red Hat, the world’s leading open-source solutions provider, which allows the tech giant to directly verify CXL-relat

Industry June 25, 2024

LG Innotek on Monday set an ambitious goal of achieving 2 trillion won ($1.44 billion) in automotive sensor sales by 2030. The company said it will speed up efforts to adopt its cutting-edge optical technology to diverse future mobility and automotive sensing solutions. Its strategic focus will be lidar, the light detection and ranging sensors that are crucial for self-driving vehicles. Earlier this month, the company launched a new team solely dedicated to lidar development immediately under th

Industry June 24, 2024

LG Group Chairman Koo Kwang-mo traveled to the US last week to check on the operations of the group’s major affiliates and examine future growth engines, including artificial intelligence, robots, biotechnology and cleantech -- technology that reduces negative impacts on the environment -- the company said on Sunday. During the four-day trip from June 17, travelling across the country from Tennessee to the California's Silicon Valley, Koo also met with Jim Keller, the chief executive

Industry June 23, 2024

SK Group, the country's second-largest conglomerate by asset, is speeding up efforts to carry out a comprehensive overhaul of some 200 affiliates and business portfolios, starting with selling its affiliates and pushing for mergers. SK Networks announced Thursday that it is selling 100 percent of its share of SK Rent-a-Car, its rental car service, to Affinity Equity Partners, a Hong Kong-based private equity fund, for 820 billion won ($600 million). The move comes as the company intends to

Industry June 20, 2024

SK Group Chairman Chey Tae-won’s high-profile divorce from his estranged wife Roh Soh-young took an unexpected twist after the Seoul high court made a rare rectification of a mistake in its ruling that ordered the chaebol chief to pay $1 billion in property division to the wife. On Monday, the appellate court corrected numerical errors in its written judgment for the divorce settlement of Chey and Roh, but upheld its overall ruling involving the record-high divorce settlement. Earlier in t

Industry June 19, 2024

As the Paris 2024 Olympics is set to hold its opening ceremony outside the confines of a stadium for the very first time, Samsung Electronics will install its flagship Galaxy S24 Ultra smartphones inside the city to broadcast the iconic event, the tech giant said Tuesday. Samsung, an official partner for the Worldwide Olympic and Paralympic events, announced that it will install more than 200 units of its most up-to-date smartphone at the bow and sides of each of the 85 vessels that will be carr

Industry June 18, 2024

SK Group Chairman Chey Tae-won issued an apology Monday for raising public concerns with his high-profile divorce settlement but made it clear that he will appeal to the Supreme Court because a “flagrant error” was found in the court ruling that now threatens his grip on the telecom-to-chips conglomerate. Last month, the Seoul High Court ruled in favor of Chey's estranged wife Roh Soh-young in their divorce settlement and ordered the SK chief to pay 1.38 trillion won ($1 billion

Industry June 17, 2024

Top conglomerates in Korea are set to hold their strategic meetings this month to navigate the ongoing economic slowdown and geopolitical uncertainties according to industry sources on Sunday. Samsung Electronics, the country's No. 1 conglomerate in terms of assets, will kick off its series of strategic meetings from Tuesday to Thursday. Top executives are expected to convene to discuss the company’s global strategies in key technology sectors, including artificial intelligence, which touc

Industry June 16, 2024

Samsung Electronics Chairman Lee Jae-yong held consecutive meetings with the chiefs of global tech giants including Meta, Amazon and Qualcomm, in an effort to strengthen ties and boost collaboration during his two-week trip to the US, the company said on Thursday. Lee shared insights and prospects over advanced technology markets with the tech leaders and also checked on the company's business operations, the company said. In his meeting with Qualcomm CEO Cristiano Amon on Monday, Lee discu

Industry June 13, 2024

SK Group, the country’s second-largest conglomerate in terms of assets, will hold its biannual business management strategy meeting June 28-29 to comprehensively review the group’s plans and renew commitment to "go back to basics," according to industry sources Wednesday. SK Group Chairman Chey Tae-won and other members of the founding family, including SK Innovation Vice Chairman Chey Jae-won and SK Supex Council Chairman Chey Chang-won are expected to join the meeting, al

Industry June 12, 2024

Months after Samsung Electronics launched the world's first artificial intelligence smartphone equipped with its original Galaxy AI, its archrival Apple debuted its own Apple Intelligence, only to show it lacks any kind of overwhelming advantage to differentiate itself. At the Worldwide Developers Conference on Monday, Apple presented Apple Intelligence, its AI system that will be incorporated across products from iPhones to Macbooks. “Our unique approach combines generative AI with a

Industry June 11, 2024

The existence of oil and gas reserve in the East Sea is "highly prospective" as seismic data show the examined wells contain all four key elements of a petroleum system, Vitor Abreu, the owner and adviser of the US geoscience research firm Act-Geo said Friday. Act-Geo is the company that suggested substantial oil and natural gas deposits may be buried in the deep sea near Pohang's Yeongil Bay. "So to summarize ... the basin is highly prospective," Abreu said during a pre

Industry June 7, 2024