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☆ Samsung’s Consumer-Products CEO Expects Tech Slump to Persist
▼ + stars: | 2023-01-05 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

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☆ Samsung’s Consumer-Products CEO Expects Tech Slump to Persist Through 2023
▼ + stars: | 2023-01-05 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Han Jong-hee, vice chairman and co-CEO of Samsung, speaking at the CES annual trade show in Las Vegas last year. SUWON, South Korea— Samsung Electronics Co.’s consumer gadgets chief expects demand for tech gadgets to remain sluggish through this year as high inflation, rising interest rates and a strong dollar weigh on sales. Han Jong-hee, vice chairman and co-CEO of the South Korean technology company, said he hoped the current industry downturn, which has pulled Samsung back from a run of record profits, will begin to improve in the second half of the year.

☆ South Korean Crowd Crush Probe Widens
▼ + stars: | 2022-11-08 | by ( Jiyoung Sohn | Timothy W. Martin | ) www.wsj.com time to read: 1 min

SEOUL—South Korea deepened its scrutiny of the police response to a lethal crowd crush during Halloween festivities in Seoul, with newly released transcripts showing delays in treating the injured as emergency responders and bystanders on the scene repeatedly called the police asking for more back up. The transcripts, released by two South Korean lawmakers, show dozens of panicked emergency calls made as people got crushed in a pile on Oct. 29, as well as hundreds of radio-communication exchanges between first responders and dispatchers throughout the night.

SEOUL—In the wake of a tragedy that killed more than 150 Halloween revelers last weekend, South Koreans are reaching a consensus that the accident could have ben avoided. Officials didn’t have an adequate crowd-control plan for the partying-packed evening, and emergency calls warning of the dangerous overcrowding went unheeded. But the overcrowding was far from an aberration. As Covid-19 restrictions have been lifted throughout much of the world, partygoers and spectators have returned to large events en masse, fueled by the euphoria that has come at the end of a pandemic that kept people cooped up and apart from one another.

☆ In South Korea, Week of Mourning Follows Halloween Crowd Crush
▼ + stars: | 2022-11-03 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Over the course of three days, hundreds of friends flocked to the funeral of Shin Ae-jin, who was among those killed in an overcrowded Seoul alleyway on Saturday. At 24, she had just started her first job out of college. She loved to travel and had last taken a trip in July with her father to Edinburgh and London. “We’ve traveled together a lot. I’d hoped to be able to visit many more places around the world together with my daughter,” said her father, Shin Jung-seob.

☆ Pressure Mounts on South Korean Government and Police Over Deadly Halloween Tragedy
▼ + stars: | 2022-11-02 | by ( Timothy W. Martin | Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—South Korea’s main opposition Democratic Party called for the country’s national police chief and interior minister to be fired as pressure mounts over who shoulders responsibility for the deaths and injuries involving hundreds of people in a crowded Seoul alleyway. The blame game hit a new octave after police released transcripts from a series of emergency calls placed on Saturday, which warned of dangerous overcrowding on a sloping side street in Itaewon, a popular nightclub district. Some of the callers said they were afraid they could be crushed. The crowd eventually collapsed on top of itself, leading to the deaths of at least 156 people and injuries to 172 others.

SEOUL—At 4 a.m. on Sunday, Jung Hyeon-ji woke up to grab some water and scrolled through news about the deadly night in Seoul’s club district of Itaewon. What she saw still terrorizes her. The 21-year-old university student had taken to Twitter, where she encountered a barrage of raw footage from the cramped alleyway where hundreds of Halloween revelers were fatally crushed and severely injured. She saw police yanking people from a mound of tangled bodies. Ms. Jung said she could even make out faces—with some having turned pale or blue.

SEOUL—South Korean police are investigating the circumstances that led to a crowd crush in Seoul on Saturday night, including the possibility that some individuals intentionally pushed the crowd forward, as the public seeks answers in the wake of a tragedy that left more than 150 dead. Some 44 witnesses and injured survivors are being questioned about the accident in the Itaewon district, an official for South Korea’s National Police Agency said on Monday. Police are also combing through footage from dozens of security cameras and on social media to help determine how the incident may have occurred, the official said Monday.

SEOUL—In a narrow alleyway in Seoul’s lively club district, Halloween revelers were packed together so tightly that no one could move. People shouted to go forward. Others screamed to push back. Within moments late Saturday night, they began to fall like dominoes, as the crowd began collapsing on itself down the sloped side street. Hundreds of people got crushed, creating a human pile that stacked higher and higher.

☆ At Least 151 Killed in Stampede at Seoul Halloween Celebration
▼ + stars: | 2022-10-29 | by ( Timothy W. Martin | Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—More than 150 people have died from a stampede in one of Seoul’s popular nightlife districts, following a massive turnout there for the Halloween weekend. At least 151 people were killed, while 82 others suffered injuries in the city’s Itaewon neighborhood, according to the fire department for Yongsan, the district in which Itaewon is located. More than 140 emergency vehicles had been dispatched to Itaewon, home to many nightclubs and bars that were throwing late-night Halloween parties.

☆ At Least 149 Killed in Stampede at Seoul Halloween Celebration
▼ + stars: | 2022-10-29 | by ( Timothy W. Martin | Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—Nearly 150 people have died from a stampede in one of Seoul’s popular nightlife districts, following a massive turnout there for the Halloween weekend. At least 149 people were killed, while 76 others suffered injuries in the city’s Itaewon neighborhood, according to the fire department for Yongsan, the district in which Itaewon is located. More than 140 emergency vehicles had been dispatched to Itaewon, home to many nightclubs and bars that were throwing late-night Halloween parties.

☆ Jay Y. Lee Formally Becomes Samsung’s Leader
▼ + stars: | 2022-10-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Jay Y. Lee had been serving as the de facto head of Samsung. SEOUL— Samsung Electronics Co. has officially appointed Lee Jae-yong as executive chairman, an elevation in title that formalizes the all-encompassing role he has played for years at South Korea’s largest business conglomerate. The 54-year-old Mr. Lee—who goes by Jay Y. Lee in the West—had previously held the title of Samsung Electronics vice chairman. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago and had been incapacitated after a 2014 heart attack.

☆ Samsung’s De Facto Leader, Jay Y. Lee, Formally Takes the Top Job
▼ + stars: | 2022-10-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Jay Y. Lee had been serving as the de facto head of Samsung. SEOUL— Samsung Electronics Co. officially appointed Lee Jae-yong as its executive chairman, formalizing the all-encompassing leadership role he has long played at South Korea’s largest business conglomerate. The 54-year-old Mr. Lee—who goes by Jay Y. Lee in the West—had previously held the title of Samsung Electronics vice chairman. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago after being incapacitated by a 2014 heart attack.

☆ Samsung Electronics Feels Sting of Memory-Chip Decline, as Net Profit Falls 24%
▼ + stars: | 2022-10-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL— Samsung Electronics saw profits slump as prices of memory chips, its main source of income, have plunged as the semiconductor industry goes through a downturn. The South Korean tech giant on Thursday posted a 23.6% decline in net profit in the third quarter compared with the prior year, owing to weak demand for tech products including PCs and smartphones. The weakness echoes sour results seen elsewhere this week with other tech giants like Google’s Alphabet Inc., Microsoft and Facebook parent Meta Platforms Inc.

☆ Chip Maker SK Hynix Slashes Capital Spending
▼ + stars: | 2022-10-26 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—SK Hynix Inc., one of the world’s biggest chip makers by revenue, halved its planned investments for next year due to deteriorating market conditions, as the semiconductor industry’s downturn continues. Predicting a prolonged oversupply of memory chips, the South Korea-based SK Hynix said it would cut capital expenditure by more than 50% from the current year. The company said its 2022 spending would be between 10 trillion and 20 trillion won, equivalent to between $7 billion and $14 billion.

☆ BTS’s Oldest Member, Jin, Will Start His South Korean Military Service This Year
▼ + stars: | 2022-10-17 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Kim Seok-jin already had his start date for 18 months of military service pushed back, following an amendment to South Korea’s conscription law in 2020 designed with the BTS group in mind. SEOUL—The eldest member of the South Korean boy band BTS will be conscripted for the country’s mandatory military service later this year, ending a debate over whether the singers’ cultural achievements should merit an exemption. The 29-year-old Kim Seok-jin —who goes by the stage name “Jin” to fans—had until his December birthday to begin his mandatory military service of 18 months. His start date had already been pushed back two years, following an amendment to South Korea’s conscription law in 2020 designed with the BTS group in mind.

☆ Ubiquitous South Korea App Goes Offline, Raising Fresh Concerns Over Tech Giants
▼ + stars: | 2022-10-17 | by ( Jiyoung Sohn | Timothy W. Martin | ) www.wsj.com time to read: 1 min

SEOUL— Kakao South Korea’s so-called everything app, dropped out of service over the weekend, spurring widespread disruption in life and business that exposed the vulnerabilities created should an ubiquitous tech giant be forced offline. Kakao’s main services—messaging to ride hailing to mobile payments—suffered outages on Saturday, following a fire at a facility housing a large proportion of the company’s data servers. Not all of the company’s offerings had been restored as of Monday.

☆ BTS Members to Undertake Military Service in South Korea, With Jin Set to Be First
▼ + stars: | 2022-10-17 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEONGNAM, SOUTH KOREA—At the new headquarters of South Korea’s largest internet company, a fleet of self-driving robots whirl around delivering coffee, lunchboxes and mailed packages. More than 100 of these autonomous robots, which look a bit like the droid R2-D2 from the “Star Wars” films and go by the name “Rookie,” are operational at Naver high-rise office building. The tower is specifically designed with bump-free flooring and handle-free doors that open via sensors to help the robots move around more easily.

☆ Samsung, TSMC Win Exemption From New U.S. Chip Restrictions on China
▼ + stars: | 2022-10-13 | by ( Jiyoung Sohn | Asa Fitch | ) www.wsj.com time to read: 1 min

The groundbreaking ceremony for a Samsung chip production line in Xi’an, China, in 2018. The company operates two chip facilities in the country. Samsung Electronics has been granted a one-year exemption from new U.S. curbs on China’s chip industry, according to people familiar with the matter, joining a list of semiconductor companies that have received dispensation. The U.S. Department of Commerce granted Samsung authorization to continue receiving chip-making equipment and other items needed to maintain its memory-chip production in China, the people said. The South Korean company operates chip facilities in two Chinese cities.

☆ Samsung Gets One-Year Exemption From New U.S. Chip Restrictions on China
▼ + stars: | 2022-10-13 | by ( Jiyoung Sohn | Asa Fitch | ) www.wsj.com time to read: 1 min

SEOUL— Samsung Electronics has been granted a one-year exemption from new U.S. restrictions that block exports of advanced chips and related equipment to China, according to people familiar with the matter, joining a list of American-allied semiconductor giants that have received dispensation. The U.S. Department of Commerce granted Samsung authorization to continue receiving chip-making equipment and other items needed to maintain its memory-chip production in China, the people said. The South Korean firm operates chip facilities in two Chinese cities.

☆ SK Hynix Gets One-Year Reprieve From U.S. Chip Restrictions on China
▼ + stars: | 2022-10-12 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—South Korean memory-chip maker SK Hynix received a one-year exemption from new U.S. restrictions blocking exports of advanced chips and related equipment to China, a sign of Washington’s willingness to offer reprieves that help minimize potential disruption to global semiconductor production. The new rules, unveiled Friday by the Commerce Department, add new license requirements for advanced semiconductors and chip-making equipment destined to a facility in China. Licenses for facilities owned by companies from the U.S. and its allies would be decided on a case-by-case basis, while Chinese-owned facilities would face a presumption of denial.

Shares of Asia’s largest semiconductor makers and suppliers declined Tuesday as investors expressed fear about broad ramifications on the sector from new U.S. restrictions on exporting chips and related equipment to China. Taiwan Semiconductor Manufacturing Co., the world’s biggest contract chip maker, dropped 8.3% to its lowest closing in more than two years. TSMC has chip fabrication facilities—or fabs—in China, including in the eastern city of Nanjing.

☆ Biden Faces South Korea Backlash Over New EV Tax-Credit Rules
▼ + stars: | 2022-09-28 | by ( Timothy W. Martin | Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—During a visit to Seoul in May, President Biden stood at a courtyard podium flanked by the head of Hyundai Motor Group. The South Korean auto maker had just pledged more than $10 billion in U.S. investments, creating thousands of new American jobs. Mr. Biden thanked Hyundai’s Euisun Chung for helping the two countries work toward an electric-vehicle future. “We will not let you down,” Mr. Biden said.

☆ Samsung, SoftBank Chiefs Set to Discuss Potential Partnership Involving Chip Designer Arm
▼ + stars: | 2022-09-22 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL— Samsung de facto chief Lee Jae-yong and SoftBank Group Chief Executive Masayoshi Son are set to meet in Seoul next month to discuss a potential partnership involving chip designer Arm Ltd., in what could become a powerhouse union between two of the world’s semiconductor giants. Son said Thursday that he would visit South Korea to meet with Samsung Electronics Co. about a strategic alliance with Arm, which is owned by SoftBank, the Japanese conglomerate. That confirmed similar remarks of a visit by Mr. Son from the prior day by Mr. Lee, whose signoff is required for any major move made by the South Korean conglomerate.

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