Semiconductors
Seoul shares open lower on US tech losses
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The KOSPI fell 1.31 percent at the open on Friday, June 26, following tech losses on Wall Street and profit-taking after the previous session's sharp rise.
Kioxia, a NAND storage supplier, announced plans for a new listing in the United States next spring along with a stock split in Japan.
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A senior U.S. official praised South Korea's semiconductor capabilities at the Pax Silica Summit in Washington on June 25. Under Secretary Jacob Helberg expressed expectations for Seoul's contributions to AI supply chain security.
Start-up Tensordyne has secured letters of intent worth more than 200 million dollars for its semiconductors. Fifteen data center operators are interested in the chips, which are said to consume far less energy than Nvidia products.
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SK Hynix Inc. increased its workforce by more than 2,000 last year due to rising demand for memory chips.
The Bank of Korea reported that the current account surplus reached $28.29 billion in April, the second-largest on record, driven by semiconductor exports.
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Nvidia CEO Jensen Huang met SK Group Chairman Chey Tae-won in Taipei to discuss AI memory cooperation. The meeting took place on Monday.
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