Economy
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Samsung to produce AI chips for California-based AI semiconductor startup Groq
SEOUL -- Samsung Electronics has partnered with Groq, an artificial intelligence-based chip designer based in California, to manufacture the American company's next-generation AI semiconductors. The South Korean conglomerate will produce four-nanometer chips for Groq at a chip plant in Texas' central region, which is set to begin commercial operation in the second half of 2024. AI semiconductors with neural processing units are chips that specialize in processing AI-related
16 August 2023
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AI developer Upstage launches alliance to establish world's top Korean-based LLM
SEOUL -- South Korean artificial intelligence technology developer Upstage has launched an alliance of companies and organizations in the private and public sectors including media companies, academics, and corporates in a bid to establish an ecosystem for large language models that would incorporate Korean language-based AI models capable of understanding and generating natural conversations in Korean. A large language model (LLM) is basically a smart computer program that understan
14 August 2023
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LS Cable invests $117 mln to expand submarine cable plant in coastal city
SEOUL -- LS Cable & System, a major cable maker in South Korea, has invested about 155.5 billion won ($117 million) to expand its submarine cable infrastructure. The company, which operates an underwater cable factory in South Korea's coastal city near the East Sea, is also considering an investment in the Southeast Asian market to gain a competitive edge in the global subsea cable market. Submarine cables play a crucial role in facilitating communication between countries and
11 August 2023
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Samsung releases foldable smartphones Z Flip5 and Z Fold5 worldwide
SEOUL -- Samsung Electronics released globally its new foldable smartphones -- Z Flip 5 and Z Fold 5 -- along with the smart watch Galaxy Watch 6 series and tablet PC Galaxy Tab S9 series. The new devices were launched in some 50 countries including the United States, Britain, France, and China. The new devices will be released to other countries by the end of September. According to the South Korean tech giant, consumers' reaction is wild. The number of pre-orders made for Z Flip
11 August 2023
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HMM's operating profit for 2Q 2023 drops 94.54% on-year due to post-pandemic normalization
SEOUL -- HMM, the world's eighth-largest marine shipping company controlled by creditors in South Korea, saw its operating profit drop by 94.54 percent year-on-year in the second quarter of 2023 due to the normalization of shipping rates that soared during the last three years of the COVID-19 pandemic. Helped by a rise in international freight rates and improved competitiveness, South Korea's shipping industry has recorded high operating profits during the last three years. HMM
11 August 2023
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Samsung leads investment project to create new semiconductor wastewater solution
SEOUL -- In a bid to create a new solution for semiconductor wastewater, Samsung Electronic's venture capital wing invested in Membrion, a wastewater treatment startup based in Seattle. Through the investment project led by the South Korean company and British venture capital Lam Capital, Membrion attracted $12.5 million. Wastewater generated during the semiconductor manufacturing process contains various harmful heavy metals. It can cause critical damage to body organs such as the
11 August 2023
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Hybe acquires boy band Enhypen's agency Belift Lab
SEOUL -- BTS' agency Hybe has acquired all shares in Belift Lab, a content media joint venture established by South Korea's entertainment giant CJ ENM and Hybe. The joint venture was launched in 2019 to nurture K-pop prodigies who could shake the global music scene. Belift formed boy band Enhypen through a TV reality show program called "I-LAND." In a bid to discover and foster global idols, Belift launched the audition program I-LAND in 17 cities in South Korea and
10 August 2023
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Coupang records surplus for fourth consecutive month
SEOUL -- Coupang, the South Korean counterpart of Amazon, announced its operating profit in the second quarter of 2023 was 194 billion won ($147.4 million). This is the company's highest quarterly profit. Since the third quarter of 2022, the online shopping giant has recorded a surplus for the fourth consecutive quarter. According to Coupang's report, the company recorded 194 billion won in 2Q 2023, up 42 percent from the previous quarter. Coupang reported an operating income o
9 August 2023
