Samsung Creates M&A Team Focused on AI and Mobility
Samsung Electronics Chairman Lee Jae-yong is finalizing major management moves. The company has established a new M&A team within the Business Support Office, led by President Ahn Jung-hyun, who is known for the 2017 Harman acquisition, valued at approximately 9 trillion won. Following several large Mergers and Acquisitions this year,
Samsung Boosts AI Chip Investment as Demand Outpaces Supply
Samsung Electronics forecasts that demand for memory chips in the global AI infrastructure build-out will significantly surpass its supply, prompting the company to focus on mass-producing its most advanced chips to capitalise on the AI boom. The company reported a record quarterly revenue from its memory chip division, marking a
Samsung Q3 Profit Soars as AI Drives Chip Price Surge
Samsung Electronics is anticipated to record its highest third-quarter profit since 2022, driven by increased memory chip prices amid rising server demand as inventories are replenished. Analysts estimate an operating profit of around $7.11 billion for July-September, reflecting a 10% increase year-over-year. This recovery is largely attributed to improved pricing
South Korea and Vietnam Commit to Stronger Ties Despite Trade Issues
South Korea and Vietnam pledged to enhance economic and strategic ties during a summit to increase trade amidst global challenges and uncertainties. South Korean President Lee Jae Myung hosted Vietnamese leader To Lam, the first state guest since his inauguration on June 4. They discussed promoting trade and investment, with
South Korea’s Court Exonerates Samsung Chairman Lee in the 2015 Fraud Case.
South Korea’s Supreme Court cleared Samsung Chairman Jay Y. Lee of accounting fraud and stock manipulation charges related to the 2015 $8 billion merger, dismissing all charges. This enables Lee to focus on Samsung’s strategic objectives, including the development of advanced AI chips. The case, linked to a deal between
Samsung May Exit Vietnam, Eyes India for Production
The big tech giant, Samsung, is considering India as its next production hub due to increased tariffs imposed on Vietnamese imports by the U.S. Samsung, which nearly produces half of its smartphones and tablets in Vietnam, may look to India as a more effective and strategic alternative. India has emerged
Samsung & LG Challenge India’s E-Waste Recycling Policy in Court
Two of South Korea’s tech titans — Samsung and LG — have taken India’s government to court, challenging a newly implemented e-waste recycling policy they say could severely impact their bottom lines. The companies have filed lawsuits in the Delhi High Court, aiming to overturn new rules that mandate higher
Google’s Android Search Tactics Declared Illegal in Japan
Japan’s competition watchdog is turning up the heat on Big Tech. On Tuesday, the Japan Fair Trade Commission (JFTC) issued a cease-and-desist order to Google, accusing the tech giant of unfair business practices related to search services on Android devices. This decisive move echoes antitrust actions already underway in the
South Korea Pumped $24B in Semiconductor Amid the Global Race
On Tuesday, South Korea revealed a major boost in its support for the semiconductor industry, increasing the aid package to 33 trillion won ($23.25 billion) — a 25% jump from the 26 trillion won package announced last year. This strategic move comes amid increasing pressure on the government to enhance
Han Jong-hee, Samsung’s Co-CEO, Dies of Cardiac Arrest
South Korean tech giant Samsung is grappling with the sudden loss of its CEO, Han Jong-hee, who passed away at the age of 60 due to cardiac arrest. Han, who had been a pivotal figure in the company’s leadership team, died unexpectedly, leaving a void in Samsung that will be
