Articles by Jie Ye-eun
Jie Ye-eun
yeeun@heraldcorp.com-
LG chairman files suit over 'excessive' inheritance tax
LG Group Chairman Koo Kwang-mo is belatedly found to have filed a complaint against the South Korean tax administrative agency, claiming that the inheritance taxes imposed on him were excessively hefty, according to the business circles on Sunday. Koo took legal action against the head of the National Tax Service’s regional office in Yongsan-gu, central Seoul, in the latter half of last year to request the cancellation of inheritance tax overpayment. The chairman jointly filed a suit with
Industry April 16, 2023
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Samsung’s Neo QLED TVs receive carbon footprint certification
Samsung Electronics, the world's largest TV maker by shipments, said Sunday that six of its Neo quantum-dot light-emitting diode TVs have been globally certified for carbon footprint by Carbon Trust, a UK-based carbon management and reduction organization. The models -- three of its 75-inch Neo QLED 8K and three of its 75-inch Neo QLED 4K screens -- obtained the certification in recognition of Samsung’s efforts to reduce the products’ weight and power consumption compared to pr
Technology April 16, 2023
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Top court finalizes W1tr fine for Qualcomm
The Supreme Court on Thursday finalized a ruling in favor of the South Korean antitrust regulator’s record fine of 1.03 trillion won ($784 million) imposed on US chip giant Qualcomm Inc. for unfair business practices. The top court turned down the appeal by the San Diego-based firm and its two affiliates. Back in December 2016, the Fair Trade Commission slapped a fine on Qualcomm for abusing its dominant market position against smartphone makers. “Under the Fair Trade Act, we reaffir
Industry April 13, 2023
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Google fined W42b for abusing market dominance
South Korea’s antitrust regulator said Tuesday it is imposing a fine of 42.1 billion won ($32 million) on Google LLC, Google Korea and Google Asia Pacific, along with a corrective order, for abusing their market dominance to solidify the No. 1 position in the local mobile gaming app market. The move came as the US platform giant pressured South Korean mobile game publishers to launch their new games through Google Play exclusively, prohibiting them from releasing their content on the One S
Industry April 11, 2023
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[KH Explains] Apple ups ante in Samsung's home ground
US tech behemoth Apple has long maintained a low profile in South Korea, the home of its archrival Samsung Electronics, where the iPhone maker takes up a “modest” share of the market at about 20 percent. More recently, the US company seems to be upping the ante here, possibly pinning its hopes on Generation Z -- those born between 1997 and 2012 -- almost half of whom are believed to be iPhone users. According to a recent survey conducted by Gallup Korea, about 52 percent of people
Technology April 10, 2023
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LG Electronics estimates to log second-highest Q1 profit of W1.5tr
LG Electronics said Friday it predicted its first-quarter operating earnings at 1.5 trillion won ($1.14 billion), which will likely be the company’s second-highest profit for the January-March period, outpacing Samsung Electronics' financial result for the first time in more than a decade. In its earnings guidance, the consumer electronics giant estimated its January-March operating profit will likely fall 23 percent from a year ago. The operating income exceeded the local analyst con
Technology April 7, 2023
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Samsung Electronics cuts chip production as Q1 profit likely to hit 14-year low
Samsung Electronics said Friday it was cutting its chip production to a “meaningful level” after reporting a worse-than-expected 96 percent plunge in its quarterly operating profit estimate amid the global chip downturn. “We’re adjusting to a lower memory production at a meaningful level centering on products that have secured enough inventory to respond to future demand, in addition to optimizing line operations that are already underway,” the company said in a sta
Technology April 7, 2023
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LG greets BIE delegation with futuristic technologies
Upon arrival in Korea last week, an on-site inspection delegation from the Bureau International des Expositions (BIE), the regulating body of World Expos, paid a visit to Gwanghwamun, central Seoul, to look around a slew of exhibition booths set up by the nation’s top conglomerates. LG Group operated a huge booth, titled "Better Future for All with LG," where diverse technological innovations were showcased to impress the BIE delegation and express Korea’s strong will to ho
Industry April 6, 2023
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Ho-Am Foundation picks prize winners
The Ho-Am Foundation on Wednesday announced the winners of its annual Samsung Ho-Am Prize award for this year in the fields of science, engineering, medicine, arts and community service. This year’s prizes went to Ihm Ji-soon, a distinguished professor at Pohang University of Science and Technology, for physics and mathematics; Choi Kyoung-shin, a professor at University of Wisconsin-Madison, for chemistry and life sciences; Sun Yang-kook, chair professor at Hanyang University, in engineer
Industry April 5, 2023
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[KH Explains] Why a small non-profit gets funding from Netflix, Google
A South Korean civic group that has advocated for net neutrality for years has recently found itself at the center of controversy, as it is suspected of getting funds from global tech giants like Netflix and Google, according to industry sources on Monday. In February, the non-profit organization, called Open Net, released the results of a survey asking people their opinions about a pending bill that aims to impose fees for network use on streaming service companies -- a thorny issue in the glob
Industry April 3, 2023
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OpenAI CEO to visit Seoul as early as next month
The CEO behind the company that created the humanlike chatbot ChatGPT is planning to visit Korea as part of his world tour to meet with users, developers and people interested in artificial intelligence. Sam Altman, co-founder and CEO of California-based startup OpenAI, announced via Twitter Thursday that he has planned to visit 17 major cities around the world in May and June. Altman’s planned stops include Seoul, Toronto, Washington, Rio de Janeiro, Lagos, Madrid, Brussels, Munich, Londo
Industry April 3, 2023
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[KH Explains] Political meddling prolongs KT leadership vacuum
South Korea’s telecommunications giant KT Corp. is in turmoil after a series of CEO candidates stepped down, apparently under pressure from the presidential office and the ruling party. More than two decades after its privatization, the government's political clout still seems to permeate the company, and investors are outraged by a recent plunge in share prices. “If this situation happens overseas, it would be called a scandal,” said Park Sang-in, a professor at Seoul Nat
Industry March 30, 2023
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[Herald Interview] Rebellions aims to be 'next Samsung' in AI chips
Park Sung-hyun, co-founder and CEO of South Korean chip designer Rebellions, compared the latest buzz over artificial intelligence-powered chatbot ChatGPT to that of the first iPhone decades ago. “This is a kind of industrial revolution. There may be no drastic change immediately, but we don’t know how far AI will go in replacing humans in the future,” Park told The Korea Herald in a recent interview, adding that it was the iPhone 3 that started bringing drastic changes across
Technology March 27, 2023
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KT's CEO pick resigns under political pressure
South Korea's telecom giant, KT Corp., said Monday that its CEO nominee has decided to resign, four days ahead of the company’s shareholders’ meeting that was set to take a vote on the new chief. KT's group transformation division head, Yun Kyung-lim, indicated his intention to give up the company leadership to the board of directors. The decision came as he believed it would be best for a new CEO to be elected through the firm’s government improvements, which excee
Industry March 27, 2023
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Samsung chairman arrives in Beijing to attend China business summit
Samsung Electronics Executive Chairman Lee Jae-yong on Thursday arrived in Beijing to attend a high-profile corporate summit this weekend, according to industry sources Friday. It is the first time in three years for the de facto leader of Samsung Group to visit China, where the tech giant operates major production facilities. Lee is scheduled to attend the three-day China Development Forum set to run at the Diaoyutai State Guesthouse until Monday. Attending by invitation, he is expected to be j
Technology March 24, 2023
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