Samsung chairman to receive Samsung Electronics shares worth $1.94 bil. from mother

The Korea Times - Oct 13, 2026

Samsung Electronics Executive Chairman Lee Jae-yong will receive the company’s shares worth 2.6 trillion won ($1.94 billion) from his mother, former Leeum Museum of Art Director Hong Ra-hee. According to the company’s regulatory filing Tuesday, Hong will gift approximately 11.16 million shares of Samsung Electronics to Lee. The shares represent a 0.17 percent stake in the company and are worth approximately 2.6 trillion won based on Tuesday’s closing price. The gift agreement was signed Oct. 12, and the transfer is scheduled to be completed Nov. 12. Lee currently holds a 1.58 percent stake in the stake, and his holdings will increase to 1.75 percent when the transfer is completed. Hong's stake will decline from 0.99 percent to 0.82 percent. Samsung Life Insurance is Samsung Electronics' largest shareholder, with an 8.51 percent stake. Together with other Samsung affiliates, Hong, Lee, other family members and executives classified as related parties, the largest shareholder group holds 19.7 percent of the company's voting shares. The amount of gift tax is expected to be determined

Read full article

MORE NEWS

Oct 13, 2026

Apple adds No Man’s Sky, other indie games to App Store

This week, Apple kicks off Indie Games Week by adding seven familiar titles into the App Store including Sifu, Vampire Crawlers, and No Man’s Sky. It’s a great retrospect to see how far technology has taken us. With games like No Man’s Sky hard-launching roughly a decade ago on PC, it’s amazing to see how

Oct 13, 2026

Delivery fee cap risks shifting costs to riders, consumers

Pending bills at the National Assembly proposing a cap on delivery platform fees charged to food businesses to reduce their financial burdens, particularly small businesses with limited customer bases, are raising questions about the effectiveness of the proposed changes. Industry experts have examined the current ecosystem, which consists of food-ordering platforms, participating businesses, customers who place orders and riders who deliver them. They found that the cap could reduce the burden on businesses using the platforms but shift that cost to other groups in the ecosystem, such as riders and consumers. Three bills proposing different versions of the cap are pending at the National Assembly. One was proposed by Rep. Lee Kang-ill of the ruling Democratic Party of Korea, a member of the National Policy Committee. He proposed capping the combined brokerage fee, payment processing fee and advertising expenses at 15 percent of an order's value, while imposing a separate cap and a minimum floor on delivery fees. Rep. Park Jeong-hun of the main opposition People Power Party (PPP) propo

Oct 13, 2026

CJ OliveNetworks teaches elementary students self-driving car coding

CJ OliveNetworks, the information technology services affiliate of CJ Group, is running a hands-on coding camp for elementary school students in Bucheon, Gyeonggi Province, to teach them how artificial intelligence (AI) and self-driving cars work, the company said Tuesday. The AX Creative Camp is part of the Gyeonggi Provincial Office of Education’s Sinnaneun Gongyu Hakgyo, or “Exciting Sharing School,” program. AX refers to “AI transformation,” the use of AI across business operations. This is the second year the company has held the camp, in which employees use their AI expertise to teach coding classes as part of its corporate social responsibility work. The education office’s program is an after-school learning platform built with local community groups to help students find their interests and learn on their own. Some 130,000 students took part in about 7,200 programs last year, covering arts, sports and AI. This year’s camp is open to elementary students in the area covered by the Bucheon office of education. Lessons move step by step from the basic principles of sel

Oct 13, 2026

AI supply chain exposure splits Q3 outlook for Samsung, LG parts units

Exposure to the artificial intelligence (AI) supply chain is splitting the third-quarter earnings outlooks for LG Innotek and Samsung Electro-Mechanics. The former faces weaker earnings prospects because of its optics-heavy sales mix and sensitivity to foreign exchange fluctuations, while the latter is offsetting currency-related pressure with a growing contribution from multilayer ceramic capacitors (MLCCs) and semiconductor substrates. According to market tracker FnGuide on Tuesday, brokerages’ consensus estimate for LG Innotek’s third-quarter operating profit stood at 202.9 billion won ($152 million), down 32.8 percent from 302 billion won a month earlier. The revenue forecast was also lowered to 6.1 trillion won from 6.32 trillion won over the same period. The worsening earnings outlook weighed on LG Innotek shares, which plunged 15.47 percent on Monday. The biggest factor appears to be foreign exchange fluctuations, as raw materials and inventories purchased or produced when the won was weaker are being reflected in sales at a stronger won, hurting profit margins. “The sharp de

Oct 13, 2026

LG Uplus app AI moves beyond Q&A to handle payments, roaming

LG Uplus is upgrading the artificial intelligence (AI) search engine in its customer app into an active agent that completes tasks rather than just answering questions, the company said Tuesday. Korea’s third-largest mobile carrier is gradually converting the AI search in U+one, its all-in-one customer app, into what it calls an “actionable AI agent.” Through U+one, subscribers can check their plans and bills, make payments and sign up for services such as roaming and add-ons. The company launched a bill payment agent in August and a roaming agent in September. The previous AI search answered queries and then sent users to the relevant app screen. The new agents analyze customers’ actual usage data, recommend services and complete payments or sign-ups once the user confirms, all within a single conversation. The bill payment agent answers questions such as “How much is my bill this month?” When a bill has changed from the previous month, it explains why by breaking down items such as roaming, add-on services, small mobile payments and device installments. Users can pay without

Oct 13, 2026

KAIST's HBM pioneer honored with S&T Innovation Award

As artificial intelligence (AI) drives demand for ever-faster computing, Kim Joung-ho, a professor from Korea Advanced Institute of Science & Technology (KAIST), credited with helping lay the foundations for high-bandwidth memory (HBM), will receive a science and technology innovation award recognizing his contributions to Korea’s semiconductor industry. The Daejeon Development Committee will present the Science and Technology Innovation Award to Kim at 11 a.m. on Thursday at Lotte City Hotel Daejeon, honoring the professor for his research and role in advancing the development and commercialization of HBM. Kim, a professor in KAIST’s School of Electrical Engineering, has spent three decades researching next-generation memory technologies, including HBM, high-bandwidth flash and high-bandwidth SRAM, according to the committee. He proposed core concepts and the basic architecture of HBM and participated in key design and technology validation work during its development in 2009, contributing to SK hynix’s commercialization of the technology in December 2013, which the committee des

Oct 13, 2026

Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Samsung Electronics showcased next-generation memory and storage technologies at the 2026 OCP Global Summit in the United States on Monday (local time), highlighting its efforts to improve artificial intelligence (AI) infrastructure and expand cooperation with global technology companies. The Korean tech giant jointly demonstrated a memory expansion solution with AMD and displayed products related to AI chipmakers Groq and Nvidia at the event, where Samsung participated as a Diamond Sponsor. As AI models grow larger and AI agents handle increasingly complex tasks, demand is rising for memory capacity, faster data processing and more efficient storage. Samsung presented technologies designed to address these challenges across three areas: computing speed, memory expansion and data storage. A key highlight was the joint demonstration with AMD of a Compute Express Link (CXL)-based memory expansion solution. CXL allows processors and other computing components to share memory resources, helping AI systems access additional capacity without relying solely on memory installed directly in indi

Oct 13, 2026

Bond, CD issuance climbs 11.1% in Q3

Sales of bonds and certificates of deposits (CDs) in Korea rose more than 11 percent in the third quarter of this year from a year earlier, data showed Tuesday. The value of debt instruments issued during the third quarter came to 178.3 trillion won ($134 billion), up 11.1 percent from a year earlier, according to the data from the Korea Securities Depository. Bond sales jumped 13.8 percent on-year to 166.4 trillion won, while CD issuance sank 16.8 percent to 11.9 trillion won. Compared with a quarter ago, however, sales of bonds and CDs fell 1.9 percent. The Bank of Korea lifted its key rate to 3 percent over two straight meetings in July and August, marking the first back-to-back rate hikes since January 2023.

Oct 13, 2026

SK earthon begins oil production at offshore field in Vietnam

SK earthon, a Korean oil exploration and production (E&P) company, said Tuesday oil production has recently begun at an offshore field in Vietnam where it holds a stake. U.S.-based Murphy Oil Corp., the operator of Block 15-1/05, began production at the Lac Da Vang field in the Cuu Long Basin late last month, SK earthon said in a press release. SK earthon holds a 25 percent stake in the block, having invested in the project in 2007. Murphy Oil and Vietnam's state-run PetroVietnam Exploration Production Corp. (PVEP) hold 40 percent and 35 percent stakes, respectively. The block is estimated to contain total oil reserves of 60 million barrels, with production expected to reach up to 25,000 barrels per day when the project is fully developed, the company said. "We will continue to expand its oil exploration and development activities in Vietnam to secure a stable energy supply amid rising geopolitical tensions and supply chain disruptions," a company official said. SK earthon has been expanding its E&P operations in China and Southeast Asia to help improve the profitability of its parent com

Oct 13, 2026

LS Electric secures $138.7 mil. transformer deal in US

LS Electric said Tuesday it has signed a 185.3 billion-won ($138.7 million) contract with global power solutions provider Bloom Energy to supply switchgear and distribution transformers. With the latest deal, the Korean electrical equipment maker's cumulative orders from Bloom Energy have exceeded $500 million since April last year. Under the contract, LS Electric will supply power equipment for a fuel cell-based on-site power generation project at a major U.S. technology company's data center in Pennsylvania. The Korean company plans to deliver 38-kilovolt (kV) high-voltage switchgear and distribution transformers between April and July 2027.

Oct 13, 2026

HD Hyundai, Siemens launch joint center for digital shipbuilding

HD Hyundai and Siemens Digital Industries Software opened a joint center in Busan on Tuesday as part of their efforts to accelerate digital transformation in the shipbuilding industry. HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s shipbuilding intermediate holding company, held an opening ceremony for the Global Marine Center, attended by key officials from both companies, including CEO Kim Hyung-kwan and Siemens Digital Industries Software Chief Revenue Officer Robert Jones. The center will house about 50 professionals from both companies specializing in ship design, production, artificial intelligence (AI) platforms and product lifecycle management. It will serve as a key hub for combining HD Hyundai’s shipbuilding expertise with Siemens’ digital engineering technology. The two companies signed an agreement in July to work together on establishing a next-generation marine platform, a project that aims to connect all aspects of shipbuilding, from design, production and supply chain management to quality control and maintenance with AI and digital technology. The cente

Oct 13, 2026

Seoul AI startup secures prized gateway to US market via New York program

A Seoul-based AI startup has joined a prestigious New York City commercialization program, opening a rare doorway to test its products with American companies and court global investors. NextPayments was the only Korean company among 14 startups selected for NYC AI Nexus, a program organized by the New York City Economic Development Corp., from more than 200 applicants worldwide, the Seoul Metropolitan Government said Tuesday. Beginning in November, NextPayments plans to conduct pilot projects with local companies, focusing on retail and food service, to test its technology and assess demand in the U.S. market. The company develops AI platforms that integrate data from offline businesses, including orders, payments, products, staffing, logistics and customer behavior, into a unified system. Through the yearlong program, selected startups receive local office space, strategic advice, introductions to potential business partners, help with proof-of-concept projects, expert consultations and assistance in attracting investment. The New York City Economic Development Corp. plans to select as

Samsung chairman to receive Samsung Electronics shares worth $1.94 bil. from mother

MORE NEWS

Apple adds No Man’s Sky, other indie games to App Store

Delivery fee cap risks shifting costs to riders, consumers

CJ OliveNetworks teaches elementary students self-driving car coding

AI supply chain exposure splits Q3 outlook for Samsung, LG parts units

LG Uplus app AI moves beyond Q&A to handle payments, roaming

KAIST's HBM pioneer honored with S&T Innovation Award

Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Bond, CD issuance climbs 11.1% in Q3

SK earthon begins oil production at offshore field in Vietnam

LS Electric secures $138.7 mil. transformer deal in US

HD Hyundai, Siemens launch joint center for digital shipbuilding

Seoul AI startup secures prized gateway to US market via New York program

RECOMMENDED

Visa gets go-ahead to prepare for business in China