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Samsung chief’s prosecution not going to take place, police authority declines!
Samsung Electronics Chairman Lee Jae Yong has managed to steer the risk of being involved in the violation of the sanctions and employment restrictions that he has been facing until 2026.
As you all know he has been imposed a ban to be on the chair for the term of 5 years. The Seoul Metropolitan Police decided not to refer the case involving a facto leader of the Korean tech giant.
The news came out after the then justice Minister Park Beom-Kye had given the green light immediately after Lee’s parole that interpreted Lee’s status at Samsung as technically not employed. Lee has remained the unpaid and unregistered director of the crown jewel.
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Considering that Lee Jae Yong was not paid for casual work as an unregistered director. The civil activist jointly blasted the police for turning a blind eye to the convicted chaebol family that has returned to management.
let me tell you Samsung’s chief’s brother-in-law was elected the first Asian ISU President. Kim Jae-Youl is a council member of the International Skating Union and was elected as the president of the organization at the ISU Congress.
Kim, the brother-in-law of the tech giant Samsung’s de facto leader Lee Jae Yong has become the first non-European to lead the ISU board since its foundation in 1892.
Anyways, let’s resume the talks again. The decision came after nine months after the activist group accused Lee of virtually performing duties as Samsung’s vice chairman even though he was subjected to a five-year employment ban as a result of the bribery conviction in January 2021.
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Samsung’s executive chairman Jay Y. Lee (Lee Jae-yong in Korean) topped the Forbes 2024 Richest Korean list for the first time. On April 17, Forbes revealed that the Samsung boss is the richest in South Korea, with his assets increasing by $3.5 billion, bringing his total net worth to $11.5 billion.
Thanks to a rise in Samsung’s stocks, Samsung’s Lee jumped to the top of the Forbes 2024 Richest Korean list. Notably, the company’s stocks significantly hiked after the revelation that it’s developing high-bandwidth memory chips used in AI computing for NVIDIA.
Forbes 2023 Richest Korean, Kim Byung-ju, slipped to second this year with assets worth $9.7 billion. The third place went to Seo Jung-jin, honorary chairman of Celltrion, with assets of $7.5 billion.
Cho Jung-ho, chairman of Meritz Financial Group, ranked fourth with $6.2 billion, and Chung Mong-koo, honorary chairman of Hyundai Motor Group, was fifth with $4.6 billion.
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Samsung established an AI chip design-dedicated Advanced Processor Lab in Silicon Valley, US. Formerly known as the Advanced Institute of Technology, Samsung’s SAIT is said to have formed the new Lab to strengthen its AI chip R&D in the US.
BusinessKorea reports that the new Samsung Advanced Processor Lab to focus on developing next-gen AI semiconductor design assets in the US. The assets are said to be focused on the RISC-V area, which serves as a foundational design asset for semiconductor chip design.
Samsung’s initiative with RISC-V is interpreted as a move towards technological independence. Therefore, the company is expanding its R&D organization in Silicon Valley, aiming to enhance design capabilities to disrupt the market currently dominated by NVIDIA.
Amid the booming AI era, the market of advanced semiconductors is also expanding. Samsung has completed the development of its Mach-1 AI semiconductor and supplied prototypes to global firms including Korea’s Naver. The company has also started the development of Mach-2.
Under the CHIPS Act, Samsung received huge subsidies to boost investment in the US. It’s worth noting that the Biden govt awarded a 12% subsidy of Samsung’s total investment, which is significantly higher than Intel and TSMC’s subsidy.
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Samsung’s first 3nm Exynos 2500 chip could outpace Snapdragon 8 Gen 4 in power efficiency. Both chipsets will power the next-gen Galaxy flagships, scheduled for an early 2025 launch. Recent input suggests that Exynos is returning as a tough rival to Snapdragon.
The Exynos 2500 will be made on Samsung’s 2nd-gen 3nm process technology. The S24’s Exynos 2400 chipset impressed the industry with significant improvements over its predecessor. The company appears to be leveling up the game next year.
Thanks to the cutting-edge process node, Samsung’s next Exynos could finally surpass its Snapdragon counterpart in power efficiency. The company may utilize its advanced FOWLP in the Exynos 2500 to make it run at higher clock speeds at the same power consumption level.
Qualcomm is facing power efficiency concerns with its recent Snapdragon chips. Due to reduced efficiency, phone makers are forced to bring up to 5000mAh battery. Samsung apparently seized this opportunity to bring back its in-house Exynos back to the contest.
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