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: Feb. 13.
Exclusive: Samsung lifts foundry shutdown, plans full capacity ramp-up
Samsung Electronics’ foundry division has lifted its temporary production shutdown and plans to fully utilize its Pyeongtaek fab by June, driven by rising demand for Exynos processors and increased orders from cryptocurrency mining firms in China. The company had scaled back production by nearly 50% last year due to sluggish demand, leading to significant losses. The decision to ramp up operations also aligns with the production of logic dies for next-generation high-bandwidth memory (HBM4). However, U.S. trade policies against China pose risks, as Samsung relies on Chinese customers like Baidu, which recently faced production suspensions due to U.S. sanctions.
Hyundai’s Chung seeks stronger US ties in meeting with Trump Jr.
Hyundai Motor Group Executive Chairman Chung Eui-sun met with Donald Trump Jr. during a PGA Tour golf event in California, in what is seen as a strategic move to strengthen ties with the Trump administration. Although Chung did not play, he accompanied the group, which included his wife and Trump Jr.’s daughter, and engaged in extensive conversation with Trump Jr., who has become a key figure in his father’s second-term administration. The meeting comes as Hyundai faces potential challenges in the U.S. market, with President Trump signaling plans to roll back EV incentives and impose high tariffs on cars and steel imports.
Jennie named Billboard Women in Music honoree ahead of solo album release
Blackpink’s Jennie has been named a recipient of the Global Force Award at the 2024 Billboard Women in Music awards, recognizing her global impact as a K-pop star. Billboard highlighted her success with Blackpink and her growing solo career, including her upcoming debut album Ruby, set for release on March 7. Her recent singles, “Mantra” and “Love Hangover,” have charted on the Billboard Hot 100, marking personal milestones. Jennie will be honored alongside artists like Ángela Aguilar, Erykah Badu, and Meghan Trainor at the awards ceremony on March 29 at the YouTube Theater in Los Angeles.
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