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Samsung Electronics Vice Chairman Lee Jae-yong steps up to the podium on May 20 after he accompanied President Yoon Suk-yeol and U.S. President Joe Biden on a tour of the company's chip manufacturing complex in Pyeongtaek. [YONHAP] Samsung Electronics and related companies will invest 450 trillion won ($356 billion) over the course of the next five years on chips, biopharmaceuticals, advanced networks and artificial intelligence. The investment total is up 30 percent from the previous five years, while 80 percent of the total will be committed to investments within Korea. Suwon, Gyeonggi-based Samsung Electronics, which is Korea's largest company, did not break down where exactly the funds would be going, though based on the announcement and statements by the company, much of it will be going to Samsung Electronics itself. The company is related by various levels of shareholding to dozens of other companies active in a wide range of businesses. Samsung Electronics did say that … [Read more...] about Samsung commits to $356 billion of investment over 5 years

Hyundai Motor Group Chairman Euisun Chung delivers a congratulatory speech during a ceremony to launch the Entrepreneurship Round Table at the Korea Chamber of Commerce and Industry in central Seoul on Tuesday. [YONHAP] Hyundai Motor, Kia and Hyundai Mobis will jointly invest 63 trillion won ($50 billion) through 2025 in Korea in an effort to make the country the hub for future mobility. The commitment will be focused on three main categories: Electric and eco-friendly vehicles, new mobility technologies and internal combustion engine vehicles. A 21-trillion-won investment plan that was declared last week by Hyundai Motor and Kia, the two largest automakers in Korea, is included in the total. About 16.2 trillion won will be used in the eco-friendly vehicle business. The companies will seek to acquire technologies that are essential in making a wide range of environmental-friendly cars, including hybrids and fuel cell vehicles. They also vowed to install 5,000 200-kilowatt … [Read more...] about Hyundai companies promise $50 billion of investment through 2025

London (CNN Business) One of the many buzzwords percolating around Davos this week is "fragmentation," the force economists there warned could have "devastating human consequences." By "fragmentation," they are referring to a breakdown of the kind of free-wheeling, border-crossing trade and investment that's defined the global economic order over the past three decades. It is a form of deglobalization — rebuilding fences around national or regional fiefdoms. "Fragmentation is the sense that we may be having economies protect themselves a little more domestically, and that could slow things down," Josh Lipsky, director of the Atlantic Council's GeoEconomics Center, told me. "And then it may make things more expensive in return." It's not a new issue, of course — supply-chain upheaval was turbocharged by the start of the pandemic more than two years ago — but the war in Ukraine, growing political divides and lingering trade disputes are renewing concerns … [Read more...] about Here’s another troubling reason inflation will be hard to fight

On May 25, 2020, George Floyd died before our eyes as a police officer knelt on his neck for approximately 9 minutes on a street in Minneapolis. Had Darnella Frazier, then 17, not captured the murder on her cell phone and posted it to Facebook, Floyd would have been yet another Black man to die in police custody – a statistic. Instead, George Floyd became a powerful symbol of persistent inequality and systemic injustice against Black Americans and a wake-up call for all. The response was historic – from the scores of leaders making forceful statements every day about racial justice to the $50 billion that U.S. companies pledged (but not necessarily paid) to support Black communities. To understand the complexities of where we stand as a nation, though, look no further than the racially motivated mass murder at a Buffalo grocery store on May 14. In an effort to capture the reality of being Black in America, we decided that we wanted to hear from leaders in the community. Here are … [Read more...] about Two Years After George Floyd, Black Leaders Reflect On Change

GoFirst, the budget airline previously known as GoAir, is looking to expand overseas operations after its Rs 3,600 crore initial public offering is completed, people close to the company told Moneycontrol. The airline plans to start flying to Nepal, Sri Lanka, Malaysia, Cambodia and Vietnam and also increase flights to countries in West Asia, they said. The budget airline plans to launch its delayed IPO in the second quarter of this financial year. Morgan Stanley, Citibank and ICICI Securities are the merchant bankers for the IPO. The company plans to raise 75 percent of the funds through qualified institutional placement, the people said. GoFirst plans to use Rs 2,200 crore raised from the IPO to reduce debt and repay lessors. The remaining Rs 1,600 crore will be deployed to increase operations in India and internationally. “GoFirst has trained its pilots to fly to Kathmandu and will first look at launching flights to Kathmandu and Colombo,” one person said. The airline … [Read more...] about GoFirst to expand international operations with IPO proceeds: Sources

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Hem Securities IPO report on Aether Industries Aether Industries Limited is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. Valuation and Outlook Company with its experienced promoters and senior management with extensive domain knowledge is looking decent avenue to deploy the funds in. Hence we recommend “Subscribe” on issue. For all IPO stories, click here Close Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified … [Read more...] about Subscribe to Aether Industries: Hem Securities

Ritesh Agarwal, founder and chief executive officer of OYO Hotels & Homes, speaks at the SoftBank World 2019 event in Tokyo, Japan, on Thursday, July 18, 2019. (Bloomberg filepix) - A + A (May 24): Oyo Hotels, the once high-flying Indian startup, is shelving plans for an initial public offering in 2022 after a market downturn that would hurt its valuation, according to people familiar with the matter. The board of Oyo, formally known as Oravel Stays Ltd, talked through a change in the offering’s timing during multiple meetings last week and earlier this week after consulting with its bankers and investors, said the people, asking not to be identified because the decisions aren’t yet public. If the company picks up the process again by year end, the earliest possibility for an IPO would be in 2023, they said. The Gurgaon-headquartered company, which filed preliminary IPO documents last year, is seeking regulatory permission to update its draft prospectus with … [Read more...] about SoftBank-backed Oyo to shelve plans for IPO in 2022, sources say

Share to Twitter Share to Linkedin The metaverse has taken 2022 by storm. This futuristic world is the latest buzzword in business. But is it living up to the hype? Why the metaverse keeps making headlines Everyone relied on video calls and the online channel during COVID-19. Brands moved to digital platforms to connect with consumers. This period led to a boost in AR and VR usage to virtually try out products, according to Euromonitor’s Voice of the Consumer: Digital Survey. In some ways, the metaverse is an extension of the virtual, augmented and mixed reality technologies in use today. The metaverse, though, is more complex. It combines the aforementioned technologies with social media, livestreaming, cryptocurrencies and gaming platforms to create a more advanced virtual world where consumers outfit their avatars and explore. The promise of this better connected, shared, holistic 3D space could further transform brand experiences and … [Read more...] about How Brands Need To Approach The Metaverse

[JOONGANG PHOTO] AI chips are the key to future semiconductor market dominance for Korean companies, academics and others argue. Despite the country's strong position in memory chips and its growing presence in custom non-memory chips, they say that tomorrow belongs to companies that are best at designing and manufacturing high-performance processors, commonly called AI chips. "Global chip companies are going full throttle on developing AI semiconductors," said Kim Hyung-jun, head of the Post-Silicon Semiconductor Institute under the Korea Institute of Science and Technology. "AI chips will play a crucial role in chip competitiveness in future." AI chips are purposely built to perform very specific calculations as fast as possible. They are distinct from general-purpose processors, which are designed for a wider variety of functions, and are better suited for very specific, predetermined tasks that require impressive calculation capabilities and low energy consumption, such as … [Read more...] about Korea bets tomorrow belongs to AI chip leaders

KT Studio Genie CEO Kim Chul-yeon, right, and Jumbo Film Director Han Dong-hwa stand for photos after the KT subsidiary agreed to buy a 30 percent stake in the drama production company on Monday. [KT] KT Studio Genie bought a 30 percent stake in local drama production company Jumbo Film for an unspecified amount, the KT subsidiary said Tuesday. Founded in April 2020, Jumbo Film has produced popular drama series including SBS’s “One The Woman” (2021), tvN’s “Navillera” (2021) and OCN’s “Voice Season 4: Time of Judgment” (2021). The two companies will co-produce new works using the best of each party’s capabilities and have them distributed through KT’s media platforms. This comes as a part of KT’s goal to grow the revenue of its content and media units by 30 percent to 5 trillion won ($4 billion) by 2025, which the company announced last month. KT said it will invest 500 billion won over the next three years to achieve the goal. “KT Studio Genie will keep expanding KT’s media … [Read more...] about Korea’s KT Studio Genie buys 30 percent of drama production company Jumbo Film