Seoul, July 7 (IANS) South Korea-based Samsung Electronics Co. on Tuesday estimated its second-quarter operating profit at nearly 90 trillion won (US$58.8 billion), marking another quarterly record as strong demand for artificial intelligence (AI)-related semiconductors boosted earnings.The South Korean technology giant said operating profit for the April-June period is expected to total 89.4 trillion won, up 1,181 percent from a year earlier, according to its earnings guidance, reports Yonhap N…
Latest SK hynix Inc. News & Updates
Seoul, July 6 (IANS) President Lee Jae Myung on Monday called for the prompt execution of the government-led large-scale chip cluster and AI investment projects by expediting administrative procedures, including streamlining environmental impact reviews.The president made the call at a meeting with senior government officials and top executives of leading chipmakers — Samsung Electronics Co. and SK hynix Inc. — to discuss follow-up measures for the investment projects, reports Yonhap news agen…
Seoul, July 4 (IANS) In 2013, when Dunamu — now the operator of South Korea’s largest crypto exchange, Upbit — was a fledgling startup with just three employees, Kakao Ventures saw a diamond in the rough.After making the first 200 million-won (US$129,575) seed investment that year, Kim Ki-jun, the chief executive officer (CEO) of the venture capital (VC) firm, spearheaded two follow-up rounds of investments, in 2015 and 2017, totaling 3.3 billion won.Thirteen years later, Kakao Ventures and it…
Seoul, June 29 (IANS) South Korea plans to develop a new semiconductor production base in the country’s southwestern region through 800 trillion won ($517.9 billion) in corporate investments that will create four memory chip fabrication plants, Industry Minister Kim Jung-kwan said on Monday.Kim unveiled the investment plan to transform the Gwangju and Jeolla regions into the nation’s second major semiconductor cluster, alongside the existing hub in the Seoul metropolitan area, during a national …
Seoul, June 24 (IANS) The presidential policy chief said on Wednesday that the advent of a new artificial intelligence (AI) era requires new state infrastructure, calling for aggressive investment to bolster the country’s potential growth trajectory in AI.Kim Yong-beom, presidential chief of staff for policy, made the point at a discussion hosted by the Kwanhun Club, a senior journalists’ association, amid a stock market boom in South Korea driven by record profits and stock gains by AI-related …
Seoul, June 10 (IANS) Two people have been caught cheating on the TOEIC English-language proficiency test using artificial intelligence (AI) glasses in first such case in South Korea, the test administrator said on Wednesday.The two people were caught while sitting the exam on May 10 and 31, respectively, after proctors reported suspicions they were wearing AI glasses, according to the Korea TOEIC Committee, reports Yonhap news agency.Under committee regulations, the test results of both individ…
Seoul, June 7 (IANS) More stocks listed on the benchmark Korea Composite Stock Price Index (KOSPI) have declined than advanced in recent weeks despite the market rally, the bourse operator said on Sunday, suggesting that investment is increasingly concentrated in a handful of heavyweight semiconductor stocks.According to the Korea Exchange (KRX), an average of 210 KOSPI-listed stocks advanced, while 586 declined and the remainder were unchanged during the two-week period from May 26 through Frid…
Seoul, May 31 (IANS) Foreign selling of South Korean stocks listed on the benchmark Korea Composite Stock Price Index (KOSPI) reached a record high in May, while foreign investors poured a record amount into the tech-heavy KOSDAQ market, data showed on Sunday.Offshore investors sold a net 44.71 trillion won (US$29.66 billion) worth of local stocks in May, surpassing the previous record of 35.74 trillion won in net selling set in March, according to data from the Korea Exchange (KRX), reports Yon…
Seoul, May 26 (IANS) South Korea’s benchmark Korea Composite Stock Price Index (KOSPI) wrapped up Tuesday’s trading session above 8,000 points, as foreign investors returned to net buyers of local stocks on expectations that the United States and Iran may be nearing a deal to end the war in the Middle East.The KOSPI jumped more than 2.8 percent to open at 8,070.91 points, breaking above an intraday high of 8,046.78 points that was reached May 15, reports Yonhap news agency.The index rose as high…
Seoul, May 25 (IANS) Average daily transactions in South Korea’s benchmark index surpassed 40 trillion won ($26.4 billion) for the first time this month amid a record-breaking market rally, bourse data showed on Monday.The daily turnover of the Korea Composite Stock Price Index (KOSPI) averaged 48.05 trillion won during the first 22 days of May, according to the data from the Korea Exchange (KRX).The figure marked the highest monthly average on record, surpassing the previous high of 32.23 trill…