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Korea's top three battery firms — Samsung SDI, LG Energy Solution, and SK On — have been significantly impacted by slowing electric vehicle (EV) sales growth both domestically and internationally, as demand for EV batteries has decreased following a critical stage in the industry's development, according to data and industry officials, Wednesday.
Direct purchases from China by South Korean customers surged more than 50 percent in the first quarter of 2024 to account for the largest-ever share ever, data showed Wednesday.
Korea will focus on fostering its console game sector over the next five years as part of efforts revive the country's game industry, the culture ministry said Wednesday.
Samsung Electronics said Tuesday its chip business shifted to the black for the first time in five quarters on rebounding prices of DRAMs and rising demand for high-performance memory chips for artificial intelligence.
Samsung Electronics said Tuesday its operating profit shot up more than tenfold in the first quarter, with its chip business shifting to the black for the first time in five quarters.
LG Chem, Korea's leading chemical company, said Tuesday its first-quarter net profit plunged 49 percent from a year earlier due to higher raw material costs and lower demand amid an economic slowdown.
The top three tire manufacturers here - Kumho Tire, Hankook Tire and Nexen Tire - are on a path for profitable growth on increasing sales for bigger and premium tires, as consumers display unwavering preference for SUVs and luxury sedans, according to data and analysts, Tuesday.
Samsung Electronics will increase the supply of high bandwidth memory (HBM) semiconductors, known simply as AI memory chips, by more than three times this year compared to 2023 to respond to soaring demand for generative AI services, the company said, Tuesday.
Buoyed by signs of an economic recovery, Finance and Economy Minister Choi Sang-mok said, Thursday, he sees 'rare signals of green light for the national economy.' He was referring to Korea's economy growing 1.3 percent during the first three months of this year, the highest in 27 months. However, Choi might end up regretting his overly optimistic outlook in light of the formidable economic challenges facing the nation.
President Yoon Suk Yeol's approval rating fell for a third consecutive week to 30.2 percent, marking its lowest point since August 2022, a poll showed Monday, following his party's crushing defeat in the recent general elections.