Latest news with #SeongJoonCho
Forbes
15-05-2025
- Business
- Forbes
Samsung Drops Galaxy Z Fold 6 Price In Major New Sale
The Samsung Galaxy Z Fold 6 price has dropped. Photographer: SeongJoon Cho/Bloomberg Samsung is gearing up for the Galaxy Z Fold 7 launch this summer. In the meantime, the company has slashed the price of the Galaxy Z Fold 6, just like it did with the Galaxy S25 Ultra before the new S25 Edge phone landed. The deal is very similar to the aforementioned Galaxy S25 Ultra deal that popped up last week. It combines enhanced trade-in prices, a straight $350 off the foldable phone (if no device is traded in), discounted accessories and a handful of free subscriptions. Here is what you will get if you buy the Galaxy Z Fold 6 directly from Samsung. In last week's Galaxy S25 Ultra promotion, the $250 no-trade-in offer was the best part of that deal because it's a huge discount and there's no complicated trade-in process to navigate. The same logic doesn't quite apply when buying the Galaxy Z Fold 6 because Samsung is paying top dollar for old phones in this deal. The maximum $1000 trade-in price is obviously reserved for last year's flagships from Apple and Samsung. However, the company will shell out serious cash for phones that are years old, as you can see below. Samsung doesn't extend that generosity to Apple devices, though. The Galaxy Note 20 Ultra 5G, for example, was released in 2020. The iPhone 12 Pro Max was released in the same year and only fetches $300, half of what its Galaxy counterpart is worth. Enterprising deal hunters can find the Galaxy Note 20 Ultra on eBay for under $250, which can be sent to Samsung for that $600 discount, provided it's in working condition. If you own a Pixel phone, Samsung will only pay $300 for it. Less than the company's no-trade-in offer. It's worth selling your used Google phone on the secondary market instead to get a double discount. Samsung has also bought back its free subscriptions offer. The last time we saw the company dole out lengthy free trials to third-party services was back in 2023 via its U.K. 'boost' program, which has since ended. That deal included a free year subscription to Disney Plus, which was popular with Galaxy phone users. Unfortunately, the new offer isn't as generous, but there are some useful freebies here. You will notice that these are services that make use of the large display on the Galaxy Z Fold 6 for content consumption and productivity. With a new Galaxy Z Fold 7 on the way, which may have a better screen and will almost certainly have an improved processor, I wouldn't be surprised if we saw more free subscription offers bundled with the device.
Forbes
15-05-2025
- Automotive
- Forbes
Korean Tire Giant Hankook Launches Corporate Venture Capital Arm
Hankook Tire & Technology Co. tires for electric vehicles displayed at the EV Trend Korea exhibition in Seoul, South Korea. SeongJoon Cho/Bloomberg South Korean automobile parts giant Hankook & Company Group, one of Asia's largest tiremakers by sales, is launching its own corporate venture capital arm with a capital commitment of 15 billion won ($10.7 million), taking aim at AI, robotics and other deeptech sectors. The firm, named Hankook & Company Ventures – a wholly owned subsidiary of the group's holding company, Hankook & Company – said in its announcement last week that it will invest in sectors such as AI, robotics, aerospace technology and quantum computing. Its first fund is slated to support startups from seed to Series B, with a pool of several tens of billion of won, according to the company. The CVC is the latest effort by Hankook to diversify away from tires. In January, the company acquired Hanon Systems, the world's second-largest automotive thermal management solutions provider, for about $1 billion. The purchase boosted the group's global assets to approximately $20 billion, positioning the group 'as a global high-tech leader,' the company said at the time of the acquisition, as it 'aims to maximize synergies through resource and technology integration.' Under the Hankook & Company Group, Korea-listed Hankook Tire & Technology is a manufacturer of tires used in passenger cars, trucks, buses and other industrial vehicles. It last reported sales of 9.4 trillion won in 2024, with operating profit rising 32.7% year-over-year to 1.76 trillion won. Founded in 1941, Hankook Tire's roots date back to the 1950s, when the company's founder, Cho Hong-jai, took over a ruined tire shop shortly after the end of the Korean War. Hong-jai's son, Yang-rai, joined the billionaire ranks in 2013; he passed away in 2024. Yang-rai's younger son, Cho Hyun-bum, is the group's chairman, and has played a key role in spearheading Hankook & Company Ventures. For the 84-year-old Hankook, the launch of a CVC marks its first formal VC entity, but it's not its first foray into startup investing. In 2021, Hankook & Company collaborated with Seoul-based VC firm We Ventures to develop a 'business portfolio' of companies developing autonomous mobility technology. Its first investment, 3D mapping startup Mobiltech, was founded in 2017 and last raised 3 billion won ($2 million) in January from CJ Investment, the CVC of billionaire Lee Jay-hyun's CJ Corp. A former vice president of We Ventures, Jun Jin-won, will head up the Hankook & Company Ventures team. Jun previously held stints at Samsung Group's venture capital arm, Samsung Venture Investment Corp., as well as Samsung Electronics. In recent years, a wave of storied Korean conglomerates has made inroads into venture investing. The government's relaxation of regulations on establishing CVCs in 2021 spurred the creation of new firms, such as the launch of Hyosung Group's Hyosung Ventures and GS Holdings' GS Ventures in 2022. In 2023, South Korea's Ministry of Trade, Industry and Energy announced the formation of a CVC Alliance with 42 firms, while pledging to create a fund pool in excess of 8 trillion won ($5.7 billion) by 2025. Other examples include Naver D2 Startup Factory, known as D2SF, the arm of billionaire Lee Hae-jin's tech giant Naver; and Prologue Ventures, the CVC of billionaire Euisun Chung's automobile company Hyundai Corporation.
Extra.ie
24-04-2025
- Business
- Extra.ie
Gulfstream G650: Take a peek inside Rory McIlroy's record-breaking €50m private jet
Rory McIlroy is a Grand Slam champion after his Masters heroics at Augusta earlier this month and the win gave his coffers a healthy boost to the tune of just under €4m. That's helped his life off the course considerably, as has the purchase of a private jet acquired in 2024 to take him around the globe in style throughout the golf season. Here is the inside and out of McIlroy's private jet, the Gulfstream G650ER: Rory McIlroy purchased a 2022 Gulfstream G650ER late last year. Pic:With over 500 aircraft currently in use, the G650 is one of the most trusted business jets globally, according to the manufacturer. The G650ER is an extended-range version of the G650, adding about 500 nmi (930 km; 580 mi) by modifying the fuel system. It is powered by two Rolls-Royce BR725 turbofans mounted to the rear fuselage. The interior of the Gulfstream G650ER business jet. Pic: SeongJoon Cho/Bloomberg via Getty Images Cost depends on the aircraft's configuration, usage, and model year. A used G650ER could cost anywhere between $40m (€35.1m) and $60m (€52.7m) which helps as a gauge for the price McIlroy paid. A used Gulfstream G650ER could still set a customer back over €50m. Pic: SeongJoon Cho/Bloomberg via Getty Images The latest model bought new can cost up to $78m (€68.6m) depending on various factors such as how the aircraft is configured, how it was utilised and its model year. McIlroy was known to have acquired a 2022 model in late 2024 – putting his bird at the upper end on the price scale. The G650ER can carry between up to 16 passengers in the supreme comfort of its luxury interior. There are four separate living areas contained within the jet, with the interior completely customisable for the owner. The Gulfstream G650ER is fitted with 16 panoramic oval windows which reveal more natural light in the main cabin. Pic: SeongJoon Cho/Bloomberg via Getty Images The plane is fitted with 16 panoramic oval windows which reveal more natural light in the main cabin, which is 47 feet long. The plane flies 16 passengers and sleeps seven, with some seats converting into beds. There is also a galley kitchen where flight attendants prepare food. The spacious main cabin offers options for meeting and dining room spaces, while there are also two lavatories on board at either end of the plane. McIlroy purchased his jet late last year before changing its tail number, a move which allowed fans to track where the golfer was headed, according to RadarAtlas. The G650 holds 120 world speed records and had the fastest westbound, around-the-world flight for a non-supersonic aircraft back in 2013 when a model circled the globe in 41 hours, 7 minutes after making stops along the way in Guam, Dubai and Cape Verde.
