Pardon for imprisoned Samsung chief proposed
Posted : 2021-04-16 16:42
Updated : 2021-04-16 17:18
Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, third from right, Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, second from right, and Korea Enterprises Federation Chairman Sohn Kyung-shik, fourth from right, pose with other heads of business associations during a meeting hosted by the KCCI at its headquarters in central Seoul, Friday. Sohn proposed granting a pardon for imprisoned Samsung Electronics Vice Chairman Lee Jae-yong, after raising concerns over a looming global battle over semiconductor supplies and the absence of leadership at Samsung Electronics that leads the global chip industry. Courtesy of KCCI
Samsung heir Lee to return to prison after surgery
Posted : 2021-04-15 10:03
Samsung Electronics Vice Chairman Lee Jae-yong / Korea Times file
Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of Samsung Group convicted of bribery, will return to prison later in the day, legal and industry sources said Thursday, nearly a month after an appendicitis surgery.
Lee was transferred to Samsung Medical Center in southern Seoul on March 19 to receive an emergency surgery after suffering a ruptured appendix.
The 52-year-old tycoon was supposed to return to Seoul Detention Center in Uiwang, Gyeonggi Province, last Friday but was advised to stay a few more days at the hospital to recover, the sources said.
Hyundai Motor, Samsung SDI forming battery partnership
Posted : 2021-04-13 16:32
Updated : 2021-04-13 16:44
Samsung SDI s booth at the International Electric Vehicle Expo, held on Jeju Island in 2016 / Courtesy of Samsung SDI
By Kim Bo-eun
Hyundai Motor is seeking to build a partnership with Samsung, at this time when the carmaker is pushing forward with its shift to eco-friendly future vehicles. The partnership is focused on developing each company s strategic interests: Hyundai Motor is in need of EV batteries and automotive components, while Samsung is able to provide them.
Samsung s battery-making unit is developing a cylindrical battery to be used in Hyundai s new hybrid vehicle models. Samsung SDI has not yet supplied EV batteries to Hyundai Motor. SK Innovation, LG Energy Solution and China s CATL have supplied the batteries for Hyundai s E-GMP EV platform.
Top conglomerate chiefs hold 1st get-together after Chey s KCCI chairmanship koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Leadership vacuum troubles Samsung amid global chip shortage
Posted : 2021-04-08 17:02
Updated : 2021-04-08 17:33
Samsung Electronics Vice Chairman Lee Jae-yong enters the Seoul High Court to attend a retrial of his bribery case held Jan. 18. Korea Times photo by Bae Woo-han
By Kim Bo-eun
A prolonged leadership vacuum at Samsung Electronics has placed the semiconductor giant in a tough spot with strategic decisions over new investments in the U.S. being delayed. Meanwhile, amid the global shortage of semiconductors, rival TSMC of Taiwan is building a large plant there.
Samsung chief Lee Jae-yong was jailed in January after receiving a two-and-a-half-year prison sentence for bribing former President Park Geun-hye and her confidante Choi Soon-sil. Lee is currently hospitalized after receiving emergency surgery for appendicitis, March 19.