Abstracts » Business, international

Bad year for chip makers

Article Abstract:

Big semiconductor manufacturers in South Korea suffered from decreased income in 1996 due to a decline in chip prices caused by oversupply issues. Samsung Electronics Co. registered 164.2 billion won ($190.4 million) in net profits in 1996, down 93% from 2.5 billion won in 1995. The decreased income was attributed to the more than 80% decline in the price of its 16-megabit dynamic random access memory chip. LG Semicon posted an 88% drop in net income to 91.11 billion won in 1996 from 778.69 billion won in 1995. Hyundai Electronics Industries Co. registered a 91% decline in profits to 71.14 billion won from 834.6 billion won.

Semiconductors and related devices, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Semiconductor industry, Finance, Samsung Electronics Company Ltd., Hyundai Electronics Industries Company Ltd., LG Semicon Company Ltd.

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Kim quits as head of party

Article Abstract:

South Korea's president Kim Dae Jung has resigned as head of the Millennium Democratic Party due to defeat in the parliamentary by-elections by the Grand National Party. Kim Dae Jung will still hold the position of presidency until February of 2003, but analysts and investors say his resignation makes him a lame-duck leader, leaving several reform programs without resolution.

South Korea, Political organizations, Public affairs, Political activity, Political aspects, Political parties, Kim Dae Jung, Millennium Democratic Party (South Korea)

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