SK chief, Samsung exec. to accompany Moon for US summit
Posted : 2021-05-12 16:22
By Kim Yoo-chul
SK Group Chairman Chey Tae-won, also head of the Korea Chamber of Commerce and Industry (KCCI), plans to accompany President Moon Jae-in next week for the South Korean leader s first summit with U.S. President Joe Biden in Washington, D.C.
Samsung Electronics Vice Chairman Kim Ki-nam, who is in charge of managing Samsung s semiconductor business, is considering visiting the U.S., while SK Bioscience chief Ahn Jae-yong is scheduled to join the trip. LG Energy Solution (LGES) CEO Kim Jong-hyun will also fly to Washington. But Hyundai Motor Group Chairman Chung Euisun will not join the business delegation, according to officials and sources, Wednesday.
Moon leaves door open for pardon of imprisoned Samsung chief
Posted : 2021-05-10 16:27
Updated : 2021-05-10 23:03
President Moon Jae-in shakes hands with Samsung Electronics Vice Chairman Lee Jae-yong during a meeting with business leader in this undated photo. Korea Times file
By Yi Whan-woo
President Moon Jae-in left the door open, Monday, to the possibility of granting a pardon to imprisoned Samsung Electronics Vice Chairman Lee Jae-yong amid growing calls to release him to cope with the global battle over semiconductor leadership.
The President said he will sufficiently take into account people s opinions before making a decision, adding that a pardon is not something a president can decide easily according to his own thoughts.
Moon urges North Korea to return to negotiation table
Posted : 2021-05-10 16:25
Updated : 2021-05-11 10:26
President Moon Jae-in points at a journalist to take a question during a press conference at Cheong Wa Dae after a speech to mark his fourth anniversary of inauguration, Monday. Yonhap
President confident of November herd immunity goal
By Nam Hyun-woo
President Moon Jae-in said Monday that the new North Korea policy developed by President Joe Biden s administration was another chance for Pyongyang to begin dialogue, pledging he will do his utmost to facilitate talks between the two Koreas and the U.S. The U.S. consulted with the South Korean government on the policy from the beginning, in the belief that the prolonged breakdown in talks with the North is inappropriate, Moon said during a press conference marking his fourth anniversary in office.
How Samsung Fell Behind TSMC in the Race for Cutting-Edge Chips
(Nikkei Asia) Samsung Electronics Vice Chairman Lee Jae-yong flew to the Netherlands in fall 2020 despite the Covid-19 pandemic, seeking crucial semiconductor production equipment supplied exclusively by Dutch manufacturer ASML.
This equipment is indispensable for the South Korean company’s cutting-edge products. ASML says it has shipped about 100 units worldwide but more than 70% have gone to Samsung rival Taiwan Semiconductor Manufacturing Co.
The trip by Lee, Samsung’s de facto leader, signals the sense of crisis for the company, which has lost ground to TSMC in advanced semiconductors. Samsung is struggling in the mass production of advanced products such as the central processing unit which serves as the brain of smartphones and losing market share in contract manufacturing. Inferiority in cutting-edge products could weaken the competitiveness of other core items such as semiconductor memory and smart
Samsung heirs top Korea s stock-rich list
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After Samsung Group Chairman Lee Kun-hee (C) died in October, his son Lee Jae-yong (L, second row) became the richest South Korean businessman in terms of stock wealth, followed by Lee Kun-hee’s wife, second from left in the second row, and his two daughters on his flank. Photo courtesy of Samsung Group
SEOUL, May 6 (UPI) Heirs of Samsung Chairman Lee Kun-hee topped South Korea s most stock-rich people list thanks to the massive wealth they inherited after Lee died last year, according to the Korea CXO Institute.
The Seoul-based business tracker said Samsung Electronics Vice Chairman Lee Jae-yong became South Korea s richest business person in terms of stock wealth, with values reaching $8.5 billion as of the end of April.