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Samsung Electronics has announced record spending for 2024, allocating approximately 35 trillion won (US$24.1 billion) for research and development, a 23.5% increase from the previous year. Facility investments also reached a high of 53.6 trillion won (US$36.9 billion), despite a challenging global market. The company reported annual revenue of 300.87 trillion won (US$207.3 billion), with net profit soaring 122.5% to 34.45 trillion won (US$23.7 billion).
Samsung Electronics has announced record spending for 2024, allocating approximately 35 trillion won (US$24.1 billion) for research and development, a 23.5% increase from the previous year. Facility investments also reached a high of 53.6 trillion won (US$36.9 billion), despite a challenging global market. The company's annual revenue rose to 300.87 trillion won (US$207.3 billion), with net profit increasing by 122.5% to 34.45 trillion won (US$23.7 billion).
Samsung Electronics led South Korea in average salaries for outside directors in 2024, offering 183.3 million won (US$126,308) per director, despite a 9.8% decrease from 2023. Among 247 analyzed firms, 29 paid over 100 million won, primarily from major conglomerates like Samsung, SK, Hyundai Motor, and LG.
Samsung Electronics led South Korea in average salaries for outside directors in 2024, offering 183.3 million won (US$126,308) per director, despite a 9.8% decrease from 2023. Among 247 analyzed firms, 29 companies paid over 100 million won, primarily from major conglomerates like Samsung, SK, Hyundai Motor, and LG.
Thailand's payment landscape remains cash-dependent, hindered by the dominance of six major banks controlling 82% of the market. Despite significant investments in digitalization, these banks may stifle fintech innovation, making it challenging for startups to compete. Analysts express skepticism about the impact of upcoming virtual bank licenses on the entrenched system.
UBS has upgraded Sumitomo Chemical's rating from "Sell" to "Neutral" and increased the target price to KRW 385, citing ongoing restructuring efforts and expected management changes as key factors. The company's shares have underperformed recently, but its long history of uninterrupted dividends and potential growth in agrochemicals, semiconductors, and displays suggest a more positive outlook. Year-to-date, the stock has shown resilience with a 6.57% return.
UBS has upgraded Sumitomo Chemical's stock rating from Sell to Neutral, raising the price target to KRW385 from KRW360. This change follows a 15% underperformance over six months and is attributed to the company's restructuring efforts and leadership changes under CEO Keiichi Iwata. The firm has maintained dividend payments for 34 years, indicating financial stability, while potential growth in agrochemicals, semiconductors, and display businesses could further enhance its market position.
KG Mobility has launched South Korea's first electric pickup truck, the Musso EV, at an event in Pyeongtaek. Equipped with an 80.6-kWh lithium iron phosphate battery, it offers a 400-kilometer range and a 500-kilogram payload capacity. The vehicle is available in two trims, priced at 50.5 million won and 48 million won, both eligible for government subsidies.
The National Samsung Electronics Union (NSEU) has approved a 5.1% wage increase for its members in 2025, following a recent agreement with Samsung Electronics. Representing about 36,000 employees, or 30% of the company's South Korean workforce, the union will also receive points for purchasing company products and 30 shares of stock.
Dcamp, a South Korean startup foundation, is expanding its influence in Japan's tech ecosystem by collaborating with TBS Innovation Partners to support South Korean media and content startups. This initiative aligns with Japan's Startup Development Policy, which aims to boost the local startup scene through significant investments and partnerships, particularly in sectors like mobility and digitalization. Dcamp is also looking to establish connections in the U.S. to further enhance global opportunities for South Korean startups.
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samsung sets record spending on research and development and facilities
07:30 12.03.2025
samsung sets record spending on research and development and facilities
07:30 12.03.2025
Samsung leads in outside director salaries among South Korean firms
06:40 12.03.2025
Samsung leads in outside director salaries among South Korean firms
06:40 12.03.2025
big banks hinder fintech growth in thailand's payment landscape
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