Seoul, May 14 (IANS) Samsung Electronics and the government on Thursday urged labour unions at the world’s largest memory chipmaker to resume wage negotiations after government-mediated talks collapsed earlier this week.The South Korean tech giant sent an official document to its two major labour unions in what is widely viewed as a last-ditch effort to avert a strike scheduled for next Thursday.Two days of government-led mediation talks ended without an agreement Wednesday, as labour and manage…
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Seoul, May 12 (IANS) The South Korean economy is showing signs of recovery, thanks to robust semiconductor exports and improving consumption demand, but downside risks persist due to uncertainties surrounding the Middle East, a state-run think tank said on Tuesday.”Exports are growing at a high rate, led by semiconductors, while domestic demand continues to improve,” the Korea Development Institute (KDI) said in its monthly economic assessment, reports Yonhap news agency.But the KDI said downsid…
Seoul, May 11 (IANS) The largest labour union at Samsung Electronics on Monday reiterated its demand that the company allocate 15 per cent of operating profit to employee performance-based bonuses and remove the payout cap, warning that mediation efforts could collapse if no progress is made.Choi Seung-ho, head of the union, reaffirmed the labor group’s position ahead of follow-up mediation talks aimed at averting the union’s planned 18-day strike beginning May 21, reports Yonhap news agency.”We…
Seoul, May 11 (IANS) South Korean stocks were trading at a fresh record high of above 7,800 points on late Monday morning, boosted by an extended rally of blue chip semiconductor shares, despite woes over the U.S.-Iran peace deal falling apart.The benchmark Korea Composite Stock Price Index (KOSPI) had surged 324.22 points, or 4.32 percent, to 7,822.22 as of 11:20 a.m. after rising as high as 7876.60, reports Yonhap news agency.The index has been on a record-breaking run for the fifth consecutiv…
Washington, May 9 (IANS) India is pushing for the “democratisation of AI” while expanding technology cooperation with the United States, Ambassador Vinay Kwatra said at the US-India AI and Emerging Technology Forum.Speaking at an event here, Kwatra said the recent AI summit in India brought together global leaders, scientists and industry to shape a shared vision.“One of the driving thrust…was eventually the democratisation of AI,” he said.He explained the idea as wider access to AI ou…
New Delhi, May 6 (IANS) Suchi Semicon on Wednesday said it is truly honoured and humbled by the Cabinet’s approval of its semiconductor project in Gujarat, with an outlay of around Rs 868 crore, and remains fully committed to this national mission.The Cabinet, under the leadership of Prime Minister Narendra Modi, has approval two new semiconductor projects — Crystal Matrix Limited and Suchi Semicon — with a combined investment of around Rs 3,936 crore, which are expected to generate employme…
Seoul, May 6 (IANS) South Korean stocks traded 6 per cent higher to stay above the unprecedented 7,300-point mark on Wednesday led by strong gains in semiconductor shares and rising optimism for a peace deal between the United States and Iran.Opening 2.25 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, adding 418.82 points, or 6.04 percent, to an all-time intraday high of 7,355.81 as of 11:20 a.m, reports Yonhap news agency.With the surge, the bourse opera…
Bhopal, May 5 (IANS) The Madhya Pradesh Cabinet on Tuesday cleared a major investment of Rs 1,295 crore to establish an Electronic (Semi-Conductor) Manufacturing Cluster near Bhopal, marking a significant stride in the state’s industrial expansion, officials said. The project is being developed jointly by the Central and state governments and is expected to become a hub for semiconductor-related activities and allied operations.Spread across more than 200 acres, the cluster is envisioned as a co…
Seoul, May 4 (IANS) South Korean stocks shot up by more than 5 per cent to close at a fresh high on Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in US-Iran peace talks. The Korean won rose sharply against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99.Trade volume was heavy at 864.3 million shares worth 41.3 trillion won (US$28.2 bi…
Seoul, April 29 (IANS) Trade ministers of South Korea and Qatar agreed on Wednesday to expand the two countries’ cooperation in advanced industries, including artificial intelligence (AI) transformation of the manufacturing sector, semiconductor and biohealth, a Seoul ministry said.Trade Minister Yeo Han-koo met with his Qatar counterpart, Ahmed bin Mohammed Al-Sayed, in Seoul to discuss ways to expand economic and investment cooperation between the two nations, according to the Ministry of Trad…