The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Sept. 26.
SK Hynix begins mass production of world’s first 12-layer HBM3E memory
SK Hynix announced it has begun mass production of the world’s first 12-layer HBM3E memory, offering the highest capacity among current high-bandwidth memory products at 36GB. The company plans to supply this advanced memory, which is optimized for AI applications, to customers like NVIDIA by the end of the year. The new 12-layer HBM3E product, featuring increased speed, capacity, and reliability, can transfer data at 9.6 Gbps and is capable of running large AI models with impressive efficiency. SK Hynix, a pioneer in high-bandwidth memory, emphasized that its innovation includes a 50% increase in capacity and improved heat dissipation, marking a significant advancement in AI memory technology.
Exclusive: S. Korea spent $50M on Google, YouTube ads amid tax evasion allegations
Google and YouTube have faced criticism for underreporting revenue and reducing their corporate tax payments in South Korea, while receiving 67.4 billion won ($50 million) in government advertising fees in 2023, the highest among all platforms. Despite concerns over their tax practices and the spread of harmful content on YouTube, the South Korean government continues to allocate significant ad spending to these platforms, citing efficiency in targeting audiences. Critics argue that the government should reconsider its ad spending priorities, emphasizing media responsibility and fair taxation. Google Korea’s reported revenue has been questioned, with estimates suggesting underpayment of taxes by hundreds of billions of won.
Samsung India strike enters third week over wage hike demands
Around 1,000 workers at Samsung Electronics’ home appliance factory in Chennai, India, have been on strike since Sept. 9, demanding a 100% wage increase, reduced work hours, and formal union recognition. The plant is a key production base, employing over 2,000 workers and contributing 19% of Samsung’s annual $12 billion revenue in India. The protest, led by the hardline Samsung India Labor and Welfare Union (SILWU), highlights growing labor tensions in India, threatening its attractiveness as a manufacturing hub for global companies. Despite some employees returning to work, the strike continues with no resolution in sight.
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