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Industry
240 trillion won to flow into Chungcheong as Samsung and SK roll out investment plans
Samsung Electronics and SK Hynix on Wednesday announced large investment plans for South Korea’s Chungcheong region, totalling 240 trillion won. Samsung said it will invest about 140 trillion won in areas including advanced displays, high-bandwidth memory fabs, next-generation batteries and AI server package substrates, aiming to create 250,000 jobs. SK Hynix said it will invest 100 trillion won in Cheongju, citing a need to expand NAND supply and strengthen advanced packaging.
Industry
Samsung Electro-Mechanics to set up glass substrate JV with Japan's Sumitomo
Samsung Electro-Mechanics is moving to secure an early foothold in the glass substrate market for next-generation semiconductor packaging materials. The company said it signed a definitive agreement on July 2 to establish a joint venture with Dongwoo Fine-Chem, a wholly owned unit of Japan's Sumitomo Chemical Group, to produce the core glass substrate material known as glass core. The new venture, named GlaSSEM, will be based in Pyeongtaek, South Korea.
Fintech
Morgan Stanley, Merrill Lynch join Nextrade as members
Morgan Stanley Securities and Merrill Lynch Securities have joined alternative trading venue Nextrade as members, Nextrade said. Nextrade approved membership for the firms' Seoul branches on July 1. Morgan Stanley plans to complete its smart order routing system by November, while Merrill Lynch aims to finish system development this year and pursue participation across all markets after testing. Nextrade’s member brokerages have risen to 36.
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Industry
SK to invest 1.4 trillion won to strengthen mutual growth with partners
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AI & Enterprise
AI power shift begins, from models to semiconductors, from GPU buying to chip design
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AI & Enterprise
PIPC discusses ways to expand use of regional AI data
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AI & Enterprise
Amazon hardware chief says app and screen era will fade, outlines on-device AI chip strategy
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Telecommunications & Media
Nokia says AI-RAN is reality as it speeds network-AI integration
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Telecommunications & Media
Unification TV restores PP status as Broadcast Media Telecommunications Commission drops appeal
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AI & Enterprise
Anthropic co-founder Tom Brown helped ease export curbs on latest AI models
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Finance
KOSPI slumps more than 7 percent as Samsung Electronics, SK Hynix tumble
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Crypto
FSS chief urges digital asset CEOs to strengthen firmwide internal controls
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Finance
FSS launches on-site inspections of Shinhan Investment, Kiwoom over JTBC corporate bond mis-selling
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AI & Enterprise
Dan Ives to leave Wedbush after 8 years to set up new financial firm
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Mobility
BYD beats Tesla again, delivers 557,090 EVs in Q2 to regain global top spot
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Games & Commerce
SOOP to expand production and live broadcasts of swimming events, schedule more than 20 this year
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Finance
Youth Future Savings Plan applications top 2 million
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People & Appointments
Shinhan Bank tops KS-SQI bank sector for 13th straight year