New Analysis South Korea-U.S. economic ties are changing amid supply chain worries, high-tech competition, and concerns over national security. Having China as its largest trading partner, South Korea had, for over a decade, managed to mostly maintain balanced economic ties between the two powerhouses. However, recently, Seoul has made a clear shift in cementing a…
US, South Korea Strengthen Economic Ties Through ‘Semiconductor Alliance’
May 28, 2022
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Asia & PacificBusiness & Economyeconomic policieseconomyExecutive BranchHyundaiPoliticsSamsungsemiconductorSouth KoreaUSWorld
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Samsung Electronics Co. Investing $360 Billion to Build Chips, Boost Biotech Business
May 24, 2022
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Asia & PacificBusiness & Economychip manufacturingCompaniesSamsungSemiconductor Shortagesouth korea companiesTechTech NewsWorld
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Samsung Electronics Co. will spend 450 trillion won (about $360 billion) over the next several years until 2026 to boost its businesses, from semiconductor chips to pharmaceutical drugs. The investment is expected to drive long-term growth in strategic sectors like the chip industry. Samsung expects investments in the biopharmaceutical sector will help make it as…
First Biden-Yoon Summit Discusses North Korea, Supply Chains, and Security
May 21, 2022
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Asia & PacificChinaEDSCGIndo-PacificIPEFJoe BidenNorth KoreaSamsungsemiconductorsummitUSWorldYoon Suk-yeol
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President Joe Biden, on Friday, landed in South Korea on his first trip to Asia since taking office. The five-day itinerary, which will also take him to Japan, aims to strengthen Indo-Pacific alliances to counter Chinese influence. After touching down in Seoul, Biden first toured Samsung’s chip complex in Pyeongtaek, accompanied by the new South…
Lionhead Farm Gives New Meaning to ‘Down Home’ Dreams
This charming property in Batavia, Illinois, truly delivers “country living.” Lionhead Farm is a 20-acre paddock with a magnificent 8,600-square-foot farmhouse. This one-of-a-kind sanctuary is located just a half-hour drive from the outskirts of Chicago. At the heart of the spacious manor home, a fantastic gourmet kitchen has every convenience, and a design to match…
Major South Korean Industries Face Production Cuts and Shutdowns Amid China’s Lockdowns
May 3, 2022
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Asia & PacificBusiness & EconomyBusinesses in COVID-19ChinaChina Business & Economychinese importsHyundaiKiaLGlockdownsSamsungSouth Koreasupply chainWorld
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South Korea’s major industries are experiencing supply disruptions in core components as the pandemic lockdowns in China show no end in sight. With the country’s high dependence on Chinese imports, any disruption in the supply chain would threaten the South Korean economy, according to a recent study. Under the severe disruptions to the Chinese supply…
South Korea’s Semiconductor Market Share Weakens, Samsung’s Leadership Called Into Question
April 30, 2022
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Asia & PacificBusiness & EconomyCompaniesHuaweilee Jae-yongmemory chipSamsungsemiconductorSouth KoreaTSMCU.S. sanctionsWorld
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A recent South Korean study shows the country’s semiconductor market share in China shrunk 5.5 percent compared to 2018, citing the effect of U.S. sanctions on China. According to the Yonhap News Agency, the study was conducted by the Federation of Korean Industries (FKI), an economic association for domestic industries in South Korea. It analyzed…
Tech Under Pressure? Samsung Warns of Macro Risks Persisting Through the Year
The tech space has spearheaded the market sell-off seen since the start of the year, as evident from the more than 20 percent drop for The Invesco QQQ Trust in the year-to-date period. A host of negative catalysts have worked in unison to plot the downfall of this market-leading sector. It now appears that the negative…
South Korean Conglomerates Diversify Production Bases and Cut Reliance on China
April 26, 2022
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Asia & PacificChinadecouple from Chinaglobal supply chainHyundaiInternational RelationsLGPoscoSamsungSK HynixSouth KoreaWorld
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New Analysis Faced with rising raw material costs and poor logistics, major South Korean firms have accelerated their expansion of production bases worldwide to reduce over-reliance on China. Korean conglomerates such as Samsung, SK Group, Hyundai Motor, Posco, and Lotte have put forward their measures to address the pressures facing the global supply chain. The…
Samsung Overtook Intel as Top Chip Seller in 2021 Thanks to Automotive, Smartphones
The global semiconductor revenue reached $595 billion in 2021, up 26.3 percent year-on-year, Gartner reports. Samsung Electronics Co. Ltd.’s chip business grew 28 percent Y/Y, while Intel Corp. lost 0.3 percent Y/Y. Now, Samsung tops the list with $73.2 billion in revenue and a 12.3 percent market share, while Intel with $72.5 billion in revenue and a 12.2…
Samsung Electronics Q1 Profit Tops Market Expectations on Solid Chip Demand
SEOUL—Samsung Electronics Co. Ltd. reported on Thursday an estimated 50 percent jump in quarterly operating earnings to post its highest first-quarter profit since 2018, beating expectations as solid demand underpinned prices for memory chips. Earnings at the world’s largest memory chip and smartphone maker were also supported by brisk smartphone sales in the quarter, along…
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