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Why Apple’s foldable iPhone creates dilemma for Samsung
As Apple's foldable iPhone development gains momentum, Samsung Electronics finds itself facing more complex strategic situations. For Samsung, which has led the foldable smartphone market so far, the US archrival's entry represents both an opportunity to expand the market and the prospect of fierce competition over market share. For its sister firm Samsung Display, expectations are rising as it is set to exclusively supply foldable panels to Apple. According to industry sources on Wednesday, App
April 30, 2025 -
LG Energy Solution’s Q1 profit surges on cost cuts, ESS pivot
LG Energy Solution said Wednesday it turned a profit in the first quarter, with aggressive measures to improve cost efficiency amid rising uncertainty in the US tariff policies. According to the company’s earnings release, its sales revenue and operating profit rose 2.2 percent and 138.2 percent to 6.26 trillion won ($4.38 billion) and 374.7 billion won, respectively, in the first quarter of this year. Its operating profit margin improved by 9.5 percentage points from the previous quarter, reach
April 30, 2025 -
Soop teams up with LoL legend Faker for ad campaign
Soop has partnered with esports organization T1 to launch a brand advertising campaign featuring League of Legends world champion Lee "Faker" Sang-hyeok, the Korean streaming platform announced Wednesday. Soop, formerly AfreecaTV, has been strengthening its platform competitiveness by launching global services and exploring new business areas such as artificial intelligence. T1 players have for years showcased their gameplay and communicated with viewers by livestreaming on Soop. In particular,
April 30, 2025 -
Miracell enters Dubai to boost biotech presence in Middle East
Miracell, a Korean biotech company, unveiled its plans to expand into the stem cell biohealth market in Dubai of the United Arab Emirates on Wednesday, as part of efforts to strengthen its presence in the Gulf Cooperation Council region. Dubai has become a key center for the medical and biohealth industries in the Middle East, driven by both rising demand for healthcare services and interest in technological innovation. Miracell aims to develop stem cell therapies for various diseases, providing
April 30, 2025 -
Korea’s intelligence agency urges SKT USIM card replacements across all ministries
South Korea’s top intelligence agency has ordered all government ministries and public agencies to replace SK Telecom USIM cards used in official devices, following a cyberattack that compromised the core systems the company uses to verify mobile users on its network. The National Intelligence Service confirmed to The Korea Herald that it issued the directive on Tuesday, requiring USIM replacements in all SKT-connected work phones, tablets, and even mobile routers that support essential services
April 30, 2025 -
Lee Jae-myung's pro-business pivot: Tactic or real shift?
In his third bid for the nation's top job, Lee Jae-myung, the liberal candidate considered the front-runner in the June 3 presidential election, appears to have had a change of heart. During his 2017 presidential run, when he lost the party's nomination to eventual President Moon Jae-in, Lee campaigned on chaebol reforms, targeting major conglomerates like Samsung, to the extent of pledging that he would “stake his political career on dismantling the chaebol system.” Eight years later, the "chae
April 30, 2025 -
S. Korea's tax revenue increases W5.5tr in March on higher corporate tax collection
South Korea's tax revenue increased by 5.5 trillion won ($3.8 billion) in March compared to a year earlier, driven largely by higher corporate tax collection, the finance ministry said Wednesday. The government collected 32.3 trillion won in taxes last month, compared with 26.9 trillion won in the same month last year, according to the Ministry of Economy and Finance. The rise was mainly attributed to improved business performance among corporations whose fiscal year ended in December. As a resu
April 30, 2025 -
Card spending climbs over 3% in Q1
Credit card spending in South Korea rose by more than 3 percent in the first three months of the year from a year earlier, data showed Wednesday. Spending made with credit, debit and prepaid cards came to 300.6 trillion won ($210 billion) in the January-March period, up 3.3 percent from the same period last year, according to the data compiled by the Credit Finance Association. During the cited period, the number of approved card settlements climbed 1.2 percent on-year to 6.85 billion cases. The
April 30, 2025 -
Seoul shares open tad higher on US gains
Seoul shares opened slightly higher Wednesday as investors tracked overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 1.92 points, or 0.07 percent, to 2,567.34 in the first 15 minutes of trading. Overnight, Wall Street closed higher amid investor optimism over tariff negotiations between Washington and its trading partners, as US President Donald Trump marked the 100th day of his second term in office on Tuesday. The Dow Jones Industrial Average rose 0.75 percen
April 30, 2025 -
S. Korea to spend W113.4b on developing next-generation defense technologies
South Korea will invest 113.4 billion won ($79.1 million) this year to develop next-generation defense technologies, including artificial intelligence, semiconductors and robots, the industry ministry said Wednesday. The figure marks a 32.3 percent increase from the corresponding tally for 2024, according to the Ministry of Trade, Industry and Energy. The investment will be funneled into 132 projects, including the development of an amphibious mobile reconnaissance robot and a micro-suicide dron
April 30, 2025 -
Industrial output edges up in March on robust chip production
South Korea's industrial output edged up in March from the previous month, supported by strong semiconductor production, despite lingering weakness across other sectors, data showed Wednesday. Industrial production rose 0.9 percent last month, marking the second straight month of growth following a downturn that began in September, except for a brief uptick in December, according to the data compiled by Statistics Korea. In contrast, retail sales, a key gauge of private spending, inched down 0.3
April 30, 2025 -
Seoul says is not seeking hasty trade deal with US before June election
South Korea is not rushing to conclude its trade talks with the United States ahead of its upcoming presidential election in early June, the finance ministry said Wednesday. "Our position remains unchanged that we will proceed in accordance with due process without rushing the talks," the ministry emphasized. The remarks come after US Treasury Secretary Scott Bessent suggested that Seoul wants to have the "framework of a deal" before its June 3 presidential election. Responding to a question Tue
April 30, 2025 -
280,000 SKT users replace USIM chips through hacking-prompted replacement service
SK Telecom Co. said Tuesday around 280,000 users have received new universal subscriber identity module (USIM) chips through its free replacement program, launched in response to a recent hacking incident. As of 9 a.m., some 4.32 million users had also booked USIM replacements online, according to the company. The service began at 10 a.m. on Monday, with about 2,600 retail stores nationwide also participating in the replacement effort. Some 25 million SK Telecom subscribers, including nearly 2 m
April 29, 2025 -
AmCham seminar explores ways to improve Korea’s regulatory landscape
The American Chamber of Commerce in Korea announced that it held a seminar focused on Korea’s business regulatory landscape, seeking ways to strengthen business partnerships between Korea and the US and foster closer ties between the two countries. The seminar, titled Shaping the Regulatory Environment for Sustainable Trade, was held at the Conrad Seoul Hotel in Seoul on Tuesday. It aimed to explore strategies to enhance Korea’s appeal as an investment destination, according to AmCham. AmCham st
April 29, 2025 -
Seoul shares rise for 3rd day on auto, bio gains; tariff concerns linger
Seoul shares extended their winning streak to a third day Tuesday, led by auto and bio gains, though investors remain cautious about US President Donald Trump's tariff policies. The Korean won also rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 16.56 points, or 0.65 percent, to close at 2,565.42. Trade volume was moderate at 526.42 million shares worth 8.03 trillion won ($5.58 billion), with gainers outnumbering losers 659 to 236. Institutions bought a net 356
April 29, 2025