Samsung Electronics official elected group chief of intl. communications standards body
At a recent plenary session, Kim Youn-sun at Samsung Research, an information technology, and telecommunications research and development arm of Samsung Electronics, was picked as the head of the Technical Specification Group Radio Access Network within 3GPP, according to Samsung Electronics.
His two-year term will start in May.
The TSG RAN is responsible for standardizing all aspects of wireless technology, such as the physical layer, protocol aspects and radio resource control within 3GPP.
Samsung Electronics said through Kim's chairmanship, the company is expected to contribute to the standardization of the sixth-generation mobile technology.
Established in 1998, 3GPP has led the development of global mobile communication technology standards with participation from the world's major telecommunications companies and organizations, including Samsung Electronics, Apple, Qualcomm, Huawei, Ericsson and Nokia. (Yonhap)
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Korea Herald
9 hours ago
- Korea Herald
[Exclusive] Samsung SDI revamps sales under CEO amid push for global orders
Move consolidates customer order management, strengthens push for package deals with global automakers Samsung SDI has recently merged its sales teams into a single unit directly overseen by CEO Choi Joo-sun, in an apparent bid to ramp up battery orders across applications ranging from electric vehicles to energy storage systems. According to industry sources on Sunday, the battery maker affiliated with Samsung Electronics restructured its strategy marketing office earlier this month as part of a broader organizational reshuffle. Previously, the company's sales teams operated under separate battery and materials business divisions. Now, they have been consolidated into a unified strategy marketing office that reports directly to the CEO. 'The elevated status demonstrates the company's strong commitment to driving sales and securing overseas orders,' said an industry source familiar with the matter, who requested anonymity. Another source confirmed the change, saying, 'This is a strategic move to consolidate all customer order management functions into a single organization.' Until 2021, Samsung SDI operated the strategy marketing office as an independent division, before splitting it into three business units: one for small batteries, such as cylindrical and pouch lithium-ion cells used in electronic devices and two-wheelers; another for medium- and large-sized prismatic and cylindrical batteries for EVs and ESS; and a third for electronic materials. Even within each unit, marketing activities were reportedly managed separately by application and form factor. 'This shift allows for more streamlined and efficient supply agreements, such as 'package deals' with global OEMs like General Motors and Tesla, which have been seeking multiple battery form factors and applications,' the source added. The restructuring also signals that Samsung SDI is adopting a more aggressive approach to securing corporate orders compared to rivals LG Energy Solution and SK On, which continue to operate separate sales teams under each business division. Samsung SDI's renewed push comes after two consecutive quarterly operating losses, largely due to weak demand for EV batteries from OEMs and reduced profitability in the US ESS market, partly tied to tariffs on automobiles and related components. During its second-quarter earnings call, the company vowed to step up efforts to win global battery orders. 'We have secured orders for cylindrical batteries measuring 46 millimeters in diameter for premium EVs from a leading European global OEM, and we are currently negotiating supply contracts for commercial EVs with a North American startup,' said Kim Jong-sung, executive vice president of Samsung SDI's business management office. He added that the company is also in talks with another major European automaker regarding entry-level EV lithium iron phosphate prismatic batteries, as well as nickel, cobalt and aluminum prismatic cells for commercial vehicles. According to Kim Soo-hwan, head of the mid-to-large battery division, Samsung SDI has so far pursued a premium EV battery strategy but now intends to target the entry-level market as well, reflecting rapid growth in the budget EV segment. In the ESS sector, Samsung SDI plans to convert part of its first joint venture battery cell plant with Stellantis from EV to ESS production. With mass production scheduled to begin in the fourth quarter of this year, Kim emphasized that the company has already secured orders for the line through next year.
Korea Herald
11 hours ago
- Korea Herald
Korea rethinks breach of trust, its most serious corporate crime
Critics say vague rules, tough sentences chill investment, while others warn full repeal could enable abuse South Korea's criminal punishment for breach of trust is back in focus after lawmakers broadened directors' fiduciary duty beyond the company to include shareholders. The change, part of a Commercial Act amendment passed in July, has fueled concerns in the business community that it could open the door to excessive liability and criminal charges over disputed management decisions. In response, President Lee Jae Myung launched a task force on 'Rationalizing Economic Criminal Penalties,' with revision of breach of trust at the top of its agenda. 'A business misstep in Korea can land you in prison, and that chills investment,' Lee said. 'We must ask whether layering criminal sanctions, on top of economic and financial penalties, for breach of trust aligns with global norms.' Against global norms? Breach of trust applies when executives or employees violate their duty of good faith for personal gain or cause losses, and Korea is among the few countries to treat it as a crime with some of the toughest penalties. Korea regulates breach of trust under three statutes. The Criminal Act covers general and occupational cases, while the Commercial Act adds 'special breach of trust,' punishable by up to 10 years in prison or a 30 million won (about $22 million) fine. For cases exceeding 5 billion won, the Act on the Aggravated Punishment of Specific Economic Crimes mandates at least five years in prison — the same minimum as for murder. Japan, Germany and France also criminalize breach of trust but apply it far more narrowly. Germany shields executives under a 'business judgment rule,' while Japan and France limit liability to cases with clear intent or misappropriation. The UK and US have no equivalent statute; instead, they rely on fraud or embezzlement laws, with civil courts settling most disputes. 'In Korea, even the owner of a one-person company can face criminal charges for using a corporate card on personal expenses,' said Kim Woo-jin, a business professor at Seoul National University. 'In the US, the same act would be neither a crime nor a civil case since you cannot sue yourself. Serious breaches should be punished, but much of this belongs in civil law. Korea treats it too harshly as a crime, with prosecutors wielding disproportionate power.' Korea's statute leaves 'act in violation of duty' undefined and applies broadly to any property benefit, subjecting even good-faith decisions that result in losses to scrutiny. Moreover, anyone can file a complaint, making annual cases top 2,000. Yet, roughly about one in 10 indictments results in a conviction, fueling criticism that prosecutors overreach, particularly against conglomerates. Samsung Electronics Chairman Lee Jae-yong was cleared in February over a 2015 merger, ending a decade-long case. Hanwha's Kim Seung-youn, CJ's Lee Jay-hyun and former KT chief Lee Suk-chae have also had charges dropped or sentences reduced after courts could not prove them guilty. Justice Minister Jung Sung-ho recently warned against prosecutorial overreach. 'Prosecutors have been criticized for fostering risk aversion by applying hindsight judgments to strategic decisions,' he said in his July inaugural speech. 'Such caution risks weakening management and slowing decision-making.' Even Lee Bok-hyun, former Financial Supervisory Service chief who once pursued high-profile breach-of-trust cases as a prosecutor, has argued the law "unjustly exposes all boardroom choices to criminal liability," a regime found nowhere else, he emphasized. "Management decisions to be resolved in the boardroom, not the courtroom," he said. Abolishment too premature At the time, Lee, the former FSS chief, argued the law could be repealed if directors' fiduciary duty were extended to shareholders, a change enacted in July. The amendment reignited calls within the corporate sector for scrapping breach of trust altogether. Yet while many agree the law needs significant reform, some remain cautious, warning full repeal is risky in Korea's conglomerate-dominated corporate environment, where large-scale abuses — especially self-dealing or third-party favoritism — could go unchecked. 'Many breach-of-trust cases arise from asset transfers between affiliates,' said lawyer Cheon Joon-bum, vice chair of the Korean Corporate Governance Forum. 'It's often difficult to determine whether such capital shifts were made in good faith for both the investing and receiving firms. In many instances, one company bears losses to support another, leaving unrelated stakeholders exposed.' Professor Kim also warned that abolition is premature, noting it could leave controlling shareholders' unfair decisions against minorities unchecked, even when losses are not immediate. Cheon went further, arguing that the problem lies in execution. 'Only about 10 percent of indicted cases end in conviction, not because there was no wrongdoing, but because prosecutors couldn't prove it,' he said. 'In the US, cases that can't be proven wouldn't even begin. Here, they drag on for years, only to end in acquittal. That's a loss not only for genuinely innocent companies, but for the credibility of the judicial system.' Experts point to the "business judgment rule,' used in Germany and the US, as a way forward. 'The key is ensuring fairness for all stakeholders. The rule shields directors when decisions affect all shareholders equally, even if the company incurs losses,' said Cheon. The government and ruling party are moving to embed the rule in the Criminal Act, with Democratic Party of Korea lawmaker Kim Tae-nyeon already tabling a related bill. Yet Korea's breach-of-trust law is especially difficult to enforce because regulators, not boards, must prove misconduct. 'Regulators, as outsiders, struggle to obtain the documents needed to challenge management decisions. That burden makes it difficult to hold executives accountable and leaves most questionable transactions unpunished,' Cheon said. He stressed that easing criminal penalties must go hand in hand with stronger civil remedies. In the US, boards bear the burden of proving a deal's fairness in civil suits; in Korea, regulators shoulder it. Experts emphasize that legal reform alone will not suffice. 'Korea needs not only statutory change but also clearer internal procedures to prevent shareholder losses,' said Cheon. He pointed to Germany's "Konzern" system, which obligates corporate groups to safeguard minority shareholders in affiliate transactions before proceeding. Professor Kim added that Korea's recently expanded fiduciary duty to shareholders will remain hollow without a more active litigation culture. 'In the US and Europe, shareholder suits serve as routine checks on management. A comparable level of shareholder-driven litigation must take root in Korea as a precondition for easing breach-of-trust laws," said Kim. The government plans to unveil by year-end a reform package to 'rationalize' economic criminal penalties, including breach of trust. Urgent measures will be submitted to the National Assembly in September, with additional proposals finalized by year-end and aimed for passage in the first half of 2026.
Korea Herald
2 days ago
- Korea Herald
Trump says US could unveil semiconductor tariffs next week
WASHINGTON -- US President Donald Trump said Friday his administration will unveil tariffs on semiconductor imports as early as next week, as South Korean tech firms Samsung Electronics Co. and SK hynix Inc. have been carefully watching his tariff policy developments. Trump made the remarks in a meeting with reporters aboard Air Force One, as he was en route to Alaska for talks with Russian President Vladimir Putin -- the high-stakes meeting where Trump is seeking to broker a halt to the war in Ukraine. "Chips and semiconductors, we'll be setting sometime next week, (or) the week after," Trump said, according to a White House press pool report. He did not elaborate on the exact tariff rate, but said there would be a tariff increase from a "lower" rate to a "very high" rate. "Well, I'm going to have a rate that is going to be lower at the beginning. Then that gives them a chance to come in and build. And very high after a certain period of time," he said. "And if they don't build here, they have to pay a very high tariff." Last week, Trump said his administration will impose a tariff of about 100 percent on chips, as he is pushing to strengthen semiconductor production in the U.S. To impose the tariffs, Trump has invoked Section 232 of the Trade Expansion Act of 1962, a law that provides the president with the authority to adjust imports into the US when he determines they threaten to impair national security. (Yonhap)
