Seoul, April 29 (IANS) South Korea’s antitrust regulator on Wednesday newly designated Kim Bom, founder of US-listed e-commerce giant Coupang, as the company’s de facto controlling entity, placing him under stricter regulatory oversight.Kim, a U.S. citizen who also serves as chairman of the board, was designated as the “same person” of the group, a legal term referring to the individual who effectively controls a conglomerate, the Fair Trade Commission (FTC) said.The FTC’s decision comes as Coup…
Latest Lee Jae-yong News & Updates
New Delhi, April 20 (IANS) Lee Jae-yong, Executive Chairman of Samsung Electronics, on Monday took a selfie with Prime Minister Narendra Modi and South Korean President Lee Jae Myung, during a state luncheon at the company’s Noida facility.The gesture highlighted Samsung’s local manufacturing capabilities in India and came after the bilateral summit between the two leaders.Lee and Modi also interacted with business leaders from both countries, according to a statement from the South Korean p…
Seoul, April 5 (IANS) The owner family of Samsung Group is set to complete the payment of roughly 12 trillion won ($8 billion) in inheritance taxes on assets left by the late Chairman Lee Kun-hee later this month, industry sources said on Sunday.The payments, scheduled over five years since 2021, mark the end of one of the largest inheritance tax obligations in South Korean history and are expected to ease financial pressures on the family, potentially accelerating Chairman Lee Jae-yong’s push f…
Seoul, March 24 (IANS) Unionised workers at Samsung said on Tuesday they have agreed to resume talks with management ahead of a planned strike in May over bonuses.”We had a labour-management meeting at 2 p.m., and management expressed its willingness to discuss removing the cap on performance-based bonuses and other issues,” a joint board of three labour unions, including the National Samsung Electronics Union (NSEU), said in a statement.”Accordingly, we have decided to resume negotiations,” it …
Seoul, March 19 (IANS) Samsung Electronics said on Thursday it plans to invest more than 110 trillion won (US$73.3 billion) this year in research and development and facilities for artificial intelligence (AI) semiconductors as it seeks to strengthen its leadership in the competitive industry.The world’s largest memory chip maker disclosed the plan in a regulatory filing, saying it aims to secure a leading position amid the AI boom, reports Yonhap news agency.The investment marks a 21.7 per cent…
Seoul, Jan 26 (IANS) Samsung Electronics said on Monday it plans to provide treasury shares worth 175.2 billion won ($120 million) to its executives under its excess profit incentive (OPI) system.The South Korean tech giant said in a regulatory filing that it will distribute a total of 1.15 million treasury shares to 1,051 executives under the incentive program, without selling the shares on the market.Under Samsung Electronics’ OPI system, employees can receive up to 50 percent of their annual …
Seoul, Jan 25 (IANS) Lee Jae-yong, chairman of Samsung Electronics Co, has urged the company’s executives not to become complacent despite a sharp rebound in earnings, stressing that the company faces a “last chance” to restore its competitiveness, industry sources said on Sunday.Lee delivered the message during a recent seminar for Samsung Group executives, following the company’s announcement of a record operating profit of 20 trillion won (US$13.8 billion) for the fourth quarter amid a semico…
Seoul, Jan 9 (IANS) Hyundai Motor Group said on Friday it has started mass production of an on-device artificial intelligence (AI) chip that enables robots to operate autonomously without external network connectivity.The announcement of the chip, named Edge Brain, was made at CES 2026 in Las Vegas on Thursday (local time), where the group showcased the results of a three-year strategic partnership between Hyundai’s Robotics Lab and DeepX, a South Korea-based AI chip firm, reports Yonhap news ag…
Las Vegas, Jan 7 (IANS) Samsung Display said on Wednesday it has developed a new technology with US-based Intel that significantly reduces the power consumption of organic light-emitting diode (OLED) displays, enabling longer battery life for laptops.The wholly owned subsidiary of Samsung Electronics Co. said the SmartPower HDR technology allows laptop users to enable high dynamic range (HDR) mode, which can reduce power consumption by up to 22 percent compared with previous OLED displays.The HD…