North Korea fired two unidentified projectiles, South Korea’s military says

North Korea fired unidentified projectiles on Thursday, according to the South Korean military, less than a week after leader Kim Jong Un oversaw the test-firing of multiple rockets and missiles. “We confirmed that North Korea fired two rounds of missiles towards (an) eastern direction from Northern Pyongan Province at 16:29 p.m. and 16:49 p.m. (local time). Estimated travel distances were 420 km, 270 km, respectively,” a South Korean military official told NBC News. “(The) South Korea military


North Korea fired unidentified projectiles on Thursday, according to the South Korean military, less than a week after leader Kim Jong Un oversaw the test-firing of multiple rockets and missiles. “We confirmed that North Korea fired two rounds of missiles towards (an) eastern direction from Northern Pyongan Province at 16:29 p.m. and 16:49 p.m. (local time). Estimated travel distances were 420 km, 270 km, respectively,” a South Korean military official told NBC News. “(The) South Korea military
North Korea fired two unidentified projectiles, South Korea’s military says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: matt clinch, kham pool, bloomberg, getty images
Keywords: news, cnbc, companies, nbc, pyongan, unidentified, province, projectiles, korean, military, north, korea, koreas, south, official, fired, northern


North Korea fired two unidentified projectiles, South Korea's military says

North Korea fired unidentified projectiles on Thursday, according to the South Korean military, less than a week after leader Kim Jong Un oversaw the test-firing of multiple rockets and missiles.

“We confirmed that North Korea fired two rounds of missiles towards (an) eastern direction from Northern Pyongan Province at 16:29 p.m. and 16:49 p.m. (local time). Estimated travel distances were 420 km, 270 km, respectively,” a South Korean military official told NBC News. The Northern Pyongan Province is an area located to the west of the country.

The South Korean and U.S. authorities are conducting analysis for more detailed information and NBC News also said that the chief national security advisor in South Korea is monitoring the situation.

“(The) South Korea military has reinforced surveillance and vigilance for any more North Korean missile launches, and is maintaining fully preparedness by cooperating with the U.S.,” the official added.

The suspected short-range missiles appear to have been launched from a location near a missile base in Sino-Ri, according to the Dow Jones news agency. This is about 130 miles north of the demilitarized zone.

The new launches come as the U.S. Special Representative for North Korea, Stephen Biegun, travels to Seoul to meet with officials and discuss denuclearization efforts.


Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: matt clinch, kham pool, bloomberg, getty images
Keywords: news, cnbc, companies, nbc, pyongan, unidentified, province, projectiles, korean, military, north, korea, koreas, south, official, fired, northern


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South Korea’s SK Telecom to develop a 5G-based map for self-driving cars

South Korean telecoms giant SK Telecom has signed an agreement with the Incheon Free Economic Zone (IFEZ) to develop 5G-based self-driving infrastructure. In a statement Monday, SK Telecom said it would produce a high definition map covering the whole IFEZ area. It added that the map would have “centimeter-level accuracy” and provide information relating to road conditions, lanes, road slopes and speed limits. The hope is that the map will help the IFEZ area become ready for Level 4 autonomous v


South Korean telecoms giant SK Telecom has signed an agreement with the Incheon Free Economic Zone (IFEZ) to develop 5G-based self-driving infrastructure. In a statement Monday, SK Telecom said it would produce a high definition map covering the whole IFEZ area. It added that the map would have “centimeter-level accuracy” and provide information relating to road conditions, lanes, road slopes and speed limits. The hope is that the map will help the IFEZ area become ready for Level 4 autonomous v
South Korea’s SK Telecom to develop a 5G-based map for self-driving cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: anmar frangoul
Keywords: news, cnbc, companies, south, vehicles, koreas, cars, road, driver, information, zone, selfdriving, 5gbased, systems, map, sk, ifez, develop, level, telecom


South Korea's SK Telecom to develop a 5G-based map for self-driving cars

South Korean telecoms giant SK Telecom has signed an agreement with the Incheon Free Economic Zone (IFEZ) to develop 5G-based self-driving infrastructure.

The memorandum of understanding (MOU) will also focus on the development of information and communications technology start-ups in the IFEZ, a specially-designated economic zone located in the city of Incheon in the northwest of the country. The IFEZ was set up in 2003 and is made up of the areas of Songdo, Yeongjong and Cheongna.

5G refers to the fifth generation of mobile networks. While it promises cell phone users incredibly fast browsing experiences, it will also benefit the autonomous vehicle sector through its ability to process reams of information and data simultaneously and quickly.

In a statement Monday, SK Telecom said it would produce a high definition map covering the whole IFEZ area. It added that the map would have “centimeter-level accuracy” and provide information relating to road conditions, lanes, road slopes and speed limits.

The hope is that the map will help the IFEZ area become ready for Level 4 autonomous vehicles, as defined by SAE International. A global association of over 127,000 engineers, SAE International has defined five “levels” of driving automation. An example of Level 4 automation could be a driverless taxi, while at Level 5 a vehicle’s automated features can drive it under all conditions.

The map will be built using a 5G-based platform that will automatically update when it gets road observation data from advanced driver assistance systems over the 5G network.

Advanced driver assistance systems, or ADAS, are becoming increasingly important tools in modern vehicles. They use a range of technologies, including sensors and cameras, to detect potential hazards, and can undertake action – be it automatically or by warning a driver – to prevent accidents from happening.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: anmar frangoul
Keywords: news, cnbc, companies, south, vehicles, koreas, cars, road, driver, information, zone, selfdriving, 5gbased, systems, map, sk, ifez, develop, level, telecom


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South Korea’s Asiana Airlines to receive $1.4 billion from creditors

South Korean creditors plan to provide 1.6 trillion won ($1.4 billion) in financial support to debt-laden Asiana Airlines, the country’s finance minister said on Tuesday, alleviating liquidity problems after a bruising month. Asiana Airlines’ biggest shareholder earlier this month said it would sell its entire stake worth 564 billion won as of Monday’s closing share price, in response to creditors’ rejection of an earlier request for support of 500 billion won. Creditors have now offered to buy


South Korean creditors plan to provide 1.6 trillion won ($1.4 billion) in financial support to debt-laden Asiana Airlines, the country’s finance minister said on Tuesday, alleviating liquidity problems after a bruising month. Asiana Airlines’ biggest shareholder earlier this month said it would sell its entire stake worth 564 billion won as of Monday’s closing share price, in response to creditors’ rejection of an earlier request for support of 500 billion won. Creditors have now offered to buy
South Korea’s Asiana Airlines to receive $1.4 billion from creditors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, receive, industrial, airlines, asiana, 14, koreas, sell, worth, south, won, creditors, billion, kumho, air


South Korea's Asiana Airlines to receive $1.4 billion from creditors

South Korean creditors plan to provide 1.6 trillion won ($1.4 billion) in financial support to debt-laden Asiana Airlines, the country’s finance minister said on Tuesday, alleviating liquidity problems after a bruising month.

Asiana Airlines’ biggest shareholder earlier this month said it would sell its entire stake worth 564 billion won as of Monday’s closing share price, in response to creditors’ rejection of an earlier request for support of 500 billion won.

Creditors have now offered to buy Asiana Airlines’ perpetual bonds worth 500 billion won and set a credit limit of 800 billion won, among other conditions, said Minister of Economy and Finance Hong Nam-ki.

Speaking at a meeting, Hong also said creditors wanted top shareholder Kumho Industrial Co Ltd to sell its stake within this year.

State-funded Korea Development Bank, the lead creditor of Asiana Airlines — the country’s second-biggest carrier after Korean Air Lines — declined to comment.

A spokesman for the parent group of both Asiana and Kumho Industrial said it will “do its utmost” to sell Asiana Airlines, adding that it expects to sign a preliminary deal with creditors later on Tuesday.

Shares of Asiana Airlines and budget affiliate Air Busan, like those of across the industry, have been falling since crude oil prices reached six-month highs.

On Tuesday, Asiana Airlines fell 4.6 percent, whereas Air Busan lost 5.8 percent. Kumho Industrial fell 3.6 percent.

In March, auditors raised doubts about Asiana’s financial statements, after which the airline reported steeper losses and bigger debts, triggering warnings of credit-rating downgrades. Co-Chief Executive Park Sam-koo resigned to take responsibility.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, receive, industrial, airlines, asiana, 14, koreas, sell, worth, south, won, creditors, billion, kumho, air


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Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e


Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e
Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


Golden Gate Ventures and South Korea's Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia.

The firms are looking to raise around $200 million in funds and already have about $80 million worth of commitments from investors, according to a source familiar with the matter.

Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far.

In a press release, however, the companies said investments will focus on start-ups that are raising funds in the so-called Series B round — at that stage, start-ups have moved past the early development phase, achieved a few important initial milestones, and are looking for financing to grow their businesses to meet user demands.

Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an early-stage venture capital fund in the region.

“Just like there was a Seed-stage gap in 2013 that closed by 2015, then a Series A gap in 2015 that closed by 2017, now there’s a Series B gap that started in 2018,” Vinnie Lauria, a founding partner at Golden Gate Ventures, told CNBC by email.

Seed and Series A refer to early-stage fundraising efforts from new start-ups.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


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Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e


Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e
Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


Golden Gate Ventures and South Korea's Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia.

The firms are looking to raise around $200 million in funds and already have about $80 million worth of commitments from investors, according to a source familiar with the matter.

Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far.

In a press release, however, the companies said investments will focus on start-ups that are raising funds in the so-called Series B round — at that stage, start-ups have moved past the early development phase, achieved a few important initial milestones, and are looking for financing to grow their businesses to meet user demands.

Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an early-stage venture capital fund in the region.

“Just like there was a Seed-stage gap in 2013 that closed by 2015, then a Series A gap in 2015 that closed by 2017, now there’s a Series B gap that started in 2018,” Vinnie Lauria, a founding partner at Golden Gate Ventures, told CNBC by email.

Seed and Series A refer to early-stage fundraising efforts from new start-ups.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


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South Korea’s Moon replaces unification minister to improve ties with Pyongyang

South Korean President Moon Jae-in has replaced his unification minister who played a major role in last year’s detente with the North, his office said on Friday, and named a longtime confidant to lead Moon’s drive for “a new Korean peninsula.” Kim Yeon-chul, a pro-engagement scholar who heads the state-run Korea Institute for National Unification, will replace Cho Myoung-gyon pending a confirmation hearing. The appointment of Kim Yeon-chul, a staunch backer of Korean reconciliation, may further


South Korean President Moon Jae-in has replaced his unification minister who played a major role in last year’s detente with the North, his office said on Friday, and named a longtime confidant to lead Moon’s drive for “a new Korean peninsula.” Kim Yeon-chul, a pro-engagement scholar who heads the state-run Korea Institute for National Unification, will replace Cho Myoung-gyon pending a confirmation hearing. The appointment of Kim Yeon-chul, a staunch backer of Korean reconciliation, may further
South Korea’s Moon replaces unification minister to improve ties with Pyongyang Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: pyeongyang press corps pool, getty images
Keywords: news, cnbc, companies, minister, sanctions, korean, improve, ties, moons, moon, pyongyang, unification, replaces, north, summit, factory, koreas, south, office


South Korea's Moon replaces unification minister to improve ties with Pyongyang

South Korean President Moon Jae-in has replaced his unification minister who played a major role in last year’s detente with the North, his office said on Friday, and named a longtime confidant to lead Moon’s drive for “a new Korean peninsula.”

Kim Yeon-chul, a pro-engagement scholar who heads the state-run Korea Institute for National Unification, will replace Cho Myoung-gyon pending a confirmation hearing.

“He’s the right man who can actively embody the president’s vision for a new Korean peninsula, a new peace and cooperation community, by carrying out the Unification Ministry’s main policy tasks without a hitch and implementing inter-Korean agreements in a speedy manner,” Moon’s spokesman told a news briefing.

The change was part of Moon’s largest cabinet reshuffle since taking office in 2017, with new ministers for the interior, land and transportation, culture and sport, oceans and fisheries, science and technology, and small and medium enterprises.

The shake-up allows incumbent aides to run in parliamentary elections next year, analysts said, and turns a page for an administration facing a sluggish economy and sagging popularity.

The removal of Cho, who has yet to say if he will enter politics, comes a week after the second summit between U.S. President Donald Trump and North Korean leader Kim Jong Un failed to narrow their differences on dismantling the North’s nuclear programme and U.S. willingness to ease sanctions.

The failed summit was a blow for Moon, who had hoped U.S. sanctions relief would boost South-North projects including a factory park, tourism zone and railway network.

Ahead of the Hanoi summit, a rift opened within Moon’s administration over how to advance Korean ties without undercutting international sanctions and the alliance with the United States.

Some top aides, including national security adviser Chung Eui-yong, had pushed for the economic projects to go ahead. Cho and other aides favoured sticking to Trump’s “maximum pressure” campaign to force the North’s denuclearisation.

Cho’s advocacy of strict sanctions enforcement surprised — and drew complaints from — many officials.

The appointment of Kim Yeon-chul, a staunch backer of Korean reconciliation, may further improve ties with the North, officials said.

It could also signal deeper divisions within Moon’s government, some analysts said, and fuel U.S. concerns that the South may be moving too quickly with the North.

Kim, 55, is a North Korea studies professor and adviser to a previous administration in which Moon also served.

More recently, he advised Moon’s office on Korean summits before moving to head the think tank affiliated with the Unification Ministry.

Kim was a vocal critic of the 2016 decision to close the Kaesong factory after Seoul’s then-conservative government said the North had diverted wages paid to its workers by South Korean firms to bankroll its weapons programmes.

A private panel appointed by the Unification Ministry under Moon said there was no evidence to back up that charge, and Kim has since called for the factory to reopen.

The factory, alongside a railway and tourism project, are important parts of Moon’s initiative to build a pan-peninsula economic community which he has said will also benefit South Korea’s economy.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: pyeongyang press corps pool, getty images
Keywords: news, cnbc, companies, minister, sanctions, korean, improve, ties, moons, moon, pyongyang, unification, replaces, north, summit, factory, koreas, south, office


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Trump tries to convince Kim that the summit is North Korea’s chance for an economic boom

When reclusive North Korean leader Kim Jong Un meets with U.S. President Donald Trump this week, he’ll be aiming for a much-needed economic boom for his country. Trump, who says his top priority is for Pyongyang not to conduct any more testing of ballistic missiles or nuclear weapons, may opt to use the lifting of economic sanctions as a negotiating tool with the pariah state, experts said. In fact, Trump has dangled the prospect of a stronger North Korean economy ahead of the talks in Hanoi, Vi


When reclusive North Korean leader Kim Jong Un meets with U.S. President Donald Trump this week, he’ll be aiming for a much-needed economic boom for his country. Trump, who says his top priority is for Pyongyang not to conduct any more testing of ballistic missiles or nuclear weapons, may opt to use the lifting of economic sanctions as a negotiating tool with the pariah state, experts said. In fact, Trump has dangled the prospect of a stronger North Korean economy ahead of the talks in Hanoi, Vi
Trump tries to convince Kim that the summit is North Korea’s chance for an economic boom Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: weizhen tan, wang di, xinhua news agency, getty images, -miha hribernik, head of asia at verisk maplecroft
Keywords: news, cnbc, companies, chance, nuclear, korean, weapons, great, trump, north, president, vietnam, economic, boom, kim, summit, tries, convince, koreas


Trump tries to convince Kim that the summit is North Korea's chance for an economic boom

When reclusive North Korean leader Kim Jong Un meets with U.S. President Donald Trump this week, he’ll be aiming for a much-needed economic boom for his country.

Trump, who says his top priority is for Pyongyang not to conduct any more testing of ballistic missiles or nuclear weapons, may opt to use the lifting of economic sanctions as a negotiating tool with the pariah state, experts said.

In fact, Trump has dangled the prospect of a stronger North Korean economy ahead of the talks in Hanoi, Vietnam. He tweeted hours before meeting Kim: “Vietnam is thriving like few places on earth. North Korea would be the same, and very quickly, if it would denuclearize. The potential is AWESOME, a great opportunity… ”

The U.S. president said in a separate Twitter post on Sunday: “Chairman Kim realizes, perhaps better than anyone else, that without nuclear weapons, his country could fast become one of the great economic powers anywhere in the World.”


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: weizhen tan, wang di, xinhua news agency, getty images, -miha hribernik, head of asia at verisk maplecroft
Keywords: news, cnbc, companies, chance, nuclear, korean, weapons, great, trump, north, president, vietnam, economic, boom, kim, summit, tries, convince, koreas


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South Korea’s SK Hynix plans to spend $107 billion building four memory chip plants

South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation. The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade. “Though there is not enough


South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation. The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade. “Though there is not enough
South Korea’s SK Hynix plans to spend $107 billion building four memory chip plants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, plants, demand, koreas, kim, sk, spend, memory, hynix, plans, building, networks, chip, south, factories, billion


South Korea's SK Hynix plans to spend $107 billion building four memory chip plants

South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation.

The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade.

The plans for the factories, producing DRAM and next-generation chips, come as chipmakers prepare for a surge in demand to power new technology such as fifth-generation (5G) communication networks and artificial intelligence, even as a slowdown in smartphone sales kills off a two-year chip boom.

“Though there is not enough chip demand for autonomous cars now, I believe there will be much more demand for self-driving vehicles in the next 10 years or as early as in 2023 or 2024,” said analyst Kim Young-gun at Mirae Asset Daewoo.

“That will create more chip demand for SK Hynix,” as will the commercialization of 5G networks over the next few years, Kim said.

The plan also intensifies an arms race between South Korea, the world’s biggest exporter of memory chips, and China, which has been aggressively encouraging chipmaking investment to curb reliance on imports amid a trade spat with the United States.

China is the world’s largest chip consumer, importing $270 billion worth in 2017 – more than its total imports of crude oil.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, plants, demand, koreas, kim, sk, spend, memory, hynix, plans, building, networks, chip, south, factories, billion


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South Korea’s SK Hynix plans to spend $107 billion building four memory chip plants

South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation. The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade. “Though there is not enough


South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation. The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade. “Though there is not enough
South Korea’s SK Hynix plans to spend $107 billion building four memory chip plants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, plants, demand, koreas, kim, sk, spend, memory, hynix, plans, building, networks, chip, south, factories, billion


South Korea's SK Hynix plans to spend $107 billion building four memory chip plants

South Korea’s SK Hynix on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation.

The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade.

The plans for the factories, producing DRAM and next-generation chips, come as chipmakers prepare for a surge in demand to power new technology such as fifth-generation (5G) communication networks and artificial intelligence, even as a slowdown in smartphone sales kills off a two-year chip boom.

“Though there is not enough chip demand for autonomous cars now, I believe there will be much more demand for self-driving vehicles in the next 10 years or as early as in 2023 or 2024,” said analyst Kim Young-gun at Mirae Asset Daewoo.

“That will create more chip demand for SK Hynix,” as will the commercialization of 5G networks over the next few years, Kim said.

The plan also intensifies an arms race between South Korea, the world’s biggest exporter of memory chips, and China, which has been aggressively encouraging chipmaking investment to curb reliance on imports amid a trade spat with the United States.

China is the world’s largest chip consumer, importing $270 billion worth in 2017 – more than its total imports of crude oil.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, plants, demand, koreas, kim, sk, spend, memory, hynix, plans, building, networks, chip, south, factories, billion


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North Korea’s Kim will likely travel to Vietnam by train

Vietnam is preparing for North Korean leader Kim Jong Un to arrive by train for his summit with President Donald Trump in Hanoi next week, two sources with direct knowledge of security and logistics planning told Reuters on Wednesday. It could take Kim at least two and a half days to travel the thousands of kilometers through China by train, from the North Korean capital of Pyongyang to Vietnam, meaning he would have to set off later this week in time for his planned Feb. 25 arrival. Kim’s train


Vietnam is preparing for North Korean leader Kim Jong Un to arrive by train for his summit with President Donald Trump in Hanoi next week, two sources with direct knowledge of security and logistics planning told Reuters on Wednesday. It could take Kim at least two and a half days to travel the thousands of kilometers through China by train, from the North Korean capital of Pyongyang to Vietnam, meaning he would have to set off later this week in time for his planned Feb. 25 arrival. Kim’s train
North Korea’s Kim will likely travel to Vietnam by train Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, likely, korean, trump, travel, kim, vietnam, north, summit, told, koreas, sources, train, week


North Korea's Kim will likely travel to Vietnam by train

Vietnam is preparing for North Korean leader Kim Jong Un to arrive by train for his summit with President Donald Trump in Hanoi next week, two sources with direct knowledge of security and logistics planning told Reuters on Wednesday.

It could take Kim at least two and a half days to travel the thousands of kilometers through China by train, from the North Korean capital of Pyongyang to Vietnam, meaning he would have to set off later this week in time for his planned Feb. 25 arrival.

Kim’s train will stop at the Vietnamese border station of Dong Dang, where he will disembark and drive 170 km (105 miles) to Hanoi by car, the sources said.

Separately, three other sources with direct knowledge of the summit preparations told Reuters the preferred location for the Feb. 27-28 meeting between Trump and Kim is the Government Guesthouse, a colonial-era government building in central Hanoi.

All five sources who spoke to Reuters said the plans were subject to change.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, likely, korean, trump, travel, kim, vietnam, north, summit, told, koreas, sources, train, week


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