Corporate
Samsung says Q3 operating profit down 31p on-year
South Korean tech giant Samsung Electronics on Thursday, 27 October said its Q3 operating profits were down 31.39pc year on year after a global economic downturn hit demand for consumer electronics.
Earnings in its crucial memory chips division dropped, the firm said in a statement, adding that “demand for consumer products remained weak”.
Operating profit for July to September 2022 fell to 10 trillion won $7 billion, down from 15.8 trillion won for the same period last year, the firm said.
The results are the first year-on-year decline in profit in nearly three years for Samsung Electronics, the world’s biggest smartphone maker.
But the company said it had seen an increase in sales, which were up by 3.79pc from the same period last year to 76 trillion won.
The world’s biggest memory-chip maker is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, Asia’s fourth-largest economy.
The conglomerate is crucial to the country’s economic health — its overall turnover is equivalent to a fifth of the national gross domestic product.
Until the Q3 of this year, Samsung, along with other tech companies, significantly benefited from strong demand for electronic devices — as well as chips that power them — during the pandemic.
But the global economy is now facing multiple challenges, including increasing inflation, rising interest rates and the growing threat of a broad debt crisis.
The situation has been exacerbated by Russia’s invasion of Ukraine — which has spurred a surge in energy prices and pushed global food prices up — along with China’s adherence to a strict zero-Covid policy.
“In 2023, demand is expected to recover to some extent, but macroeconomic uncertainties are likely to persist,” Samsung Electronics said.
“In the Memory Business, after a dampened first half, demand is expected to rebound centering on servers as data center installations resume,” it added.
Analyst Park Sung-soon of Cape Investment & Securities told the news media he did not expect consumer demand for tech products to recover until the second half of 2023.
“So the focus for Samsung will be adjusting its supply rather than relying on demand recovering anytime soon,” he said.
Samsung also said it had benefited from the strength of the US dollar against the Korean won, “resulting in an approximately 1.0 trillion won company-wide gain in operating profit compared to the previous quarter”.
Parent company Samsung Group announced Thursday that heir and de facto leader Lee Jae-Yong — who received a presidential pardon in August over a fraud conviction — would be promoted to chairman.
The vast majority of the world’s most advanced microchips are made by just two companies — Samsung and Taiwan’s TSMC — both of which are running at full capacity to alleviate a global shortage.
The supply of memory chips has become an issue of global geopolitical significance recently, with leading governments scrambling to secure supplies.
That was demonstrated in May when US President Joe Biden kicked off a South Korea tour by visiting Samsung’s sprawling Pyeongtaek chip plant.
Russia’s invasion of Ukraine has “further spotlighted the need to secure our critical supply chains”, Biden said at the plant, underscoring the importance of bolstering technology partnerships among “close partners who do share our values”.
Samsung employs about 20,000 people in the United States and work is underway to build a new semiconductor plant in Texas, scheduled to open in 2024.
The US also recently introduced new measures to limit China’s access to high-end semiconductors with military uses, a move that has wiped billions from chip companies’ valuations worldwide.
Mohammad Saiyedul Islam, China: A diverse delegation of international experts, journalists, and social media influencers concluded a captivating week-long exploration of China’s Yunnan province. The immersive tour, jointly organized by the Yunnan Provincial Department of Culture and Tourism and China Daily, showcased the region’s rich tapestry of ethnic culture, historical heritage, volcanic wonders, and serene landscapes.
The journey provided participants from various countries, including Bangladesh, with a first-hand experience of Yunnan’s multifaceted appeal, blending rural revitalization stories with natural splendors.
The expedition began in the captivating Shimao Village, where the group delved into the narrative of the village’s remarkable transformation. Attendees immersed themselves in the unique cultural heritage and daily life of the Wa people, gaining insights into the community’s traditions and their harmonious development within modern China.
The itinerary then led to the volcanic region of Tengchong. At the Tengchong Hot Sea, participants experienced renowned geothermal wellness at the Beauty Pool Hot Spring Hotel, where they relaxed in the mineral-rich waters. The geological wonders continued at the Tengchong Volcano and Geothermal National Geological Park. Here, the delegation witnessed majestic volcanic landscapes, with some taking to the skies in hot-air balloons for panoramic views and others hiking up the iconic Little Sky Mountain for a closer look at the ancient craters.
Seeking autumnal tranquility, the group visited the picturesque Ginkgo Village, where they enjoyed the stunning golden scenery of ancient ginkgo trees, a spectacle that highlights Yunnan’s seasonal beauty and idyllic rural charm.
The cultural and historical depth of the region was further unveiled in Heshun Ancient Town. The delegation visited the century-old Heshun Library and the revered Wenchang Palace, symbols of the town’s deep-rooted scholarly tradition. A tour of the former residence of Ai Siqi, a prominent Marxist philosopher, added a layer of modern historical significance to the visit.
The international delegates, armed with cameras, notebooks, and social media platforms, documented their experiences extensively. They expressed particular admiration for the seamless integration of cultural preservation, ecological conservation, and community development they witnessed.
“This tour was an eye-opener,” remarked Nuruzzaman Kafi, a social media influencer from Bangladesh. “From the vibrant culture of the Wa people to the breathtaking power of the volcanoes and the profound historical atmosphere of Heshun, Yunnan offers a truly layered and unforgettable experience. It’s a powerful story of natural and cultural heritage being cherished and shared.”
Officials from the Yunnan Provincial Department of Culture and Tourism stated that such exchanges are vital for fostering international understanding and showcasing Yunnan’s role as a key destination for sustainable and cultural tourism. They believe the delegates’ firsthand accounts and wide-reaching influence will help a global audience discover the unique charms of “Colorful Yunnan.”
The successful tour is expected to generate positive international media coverage and digital content, further elevating Yunnan’s profile as a premier travel destination that celebrates diversity, history, and natural beauty.
China Correspondent: A new chapter in Guangxi’s tourism development unfolded on Dec 2, as a themed flight from Beijing touched down at Nanning Wuxu International Airport.
The flight’s arrival marked the official launch of a joint tourism initiative, “The Next Station, Guangxi,” by the Department of Culture and Tourism of Guangxi Zhuang Autonomous Region, Air China, and China Daily, aiming to showcase Guangxi’s spectacular karst landscapes, ethnic traditions, and local charm to global travelers.
Air China’s Flight CA1311 functioned as a “flying cultural experience of Guangxi”, giving passengers an immersive sneak peek into the region’s unique appeal.
From check-in to landing, travelers were surrounded by Guangxi’s cultural elements: dedicated service counters with Guangxi-themed backdrops for photo opportunities, custom-made bilingual boarding passes that doubled as collectibles, and cabin interiors adorned with stickers featuring the region’s iconic landscapes and ethnic patterns.
In-flight entertainment systems looped promotional videos, allowing passengers to glimpse the “unmatched natural and cultural beauty” awaiting them in Guangxi.
Over the next seven days, a delegation of international and domestic travel influencers, vloggers, and media journalists will embark on an exploratory tour of Guangxi’s key attractions.
Their itinerary includes experiencing the vibrant atmosphere of Nanning’s night markets, where the city’s “night economy” thrives; visiting Hechi’s Bama — a world-renowned “longevity town” — to uncover the secrets of healthy living.
Then they’ll travel to Yizhou in Hechi, the hometown of legendary folk singer Liu Sanjie, to listen to melodious local mountain songs; and explore Guilin’s iconic karst mountains and rivers, which have inspired poets and artists for centuries.
Beyond the Beijing-Nanning route, tailored themed flights connecting Shanghai and Guangzhou to Guangxi are also in the pipeline. These routes will create seamless transfer options for international travelers via China’s major aviation hubs, further facilitating access to the region.
To enhance the appeal of traveling to Guangxi, a series of practical incentives has been rolled out.
Individual travelers who book Air China transfer tickets to Guangxi by December 31, 2025, can enjoy an exclusive 4 to 8 percent discount for travel before March 26, 2026. Specific terms and conditions are available through Air China’s official channels.
Travel agencies can access subsidies until January 5, 2026. Eligible firms organizing inbound groups via charters or block bookings qualify for up to 70,000 yuan ($9,660) per charter, or 700 yuan per person for groups of five or more from overseas and China’s Hong Kong, Macao, and Taiwan regions.
Corporate
A Unique Initiative by JCI Dhaka West to Promote Inclusion of Specially-Abled and Disabled Youth
A four-day special workshop titled Project Third Eye 2.0 was jointly organized by Junior Chamber International (JCI) Dhaka West and the Dhaka University Support for Students with Disabilities, with the objective of ensuring inclusion of specially-abled individuals in various sectors of society.
Project Third Eye 2.0, emphasized on developing the professional skills of specially-abled and disabled youth, empowering them to become capable and strong leaders in society. The core objective of this initiative is to increase employment opportunities and ensure accessibility for specially-abled and person with disability to promote inclusive recruitment processes—ultimately helping remove widespread stereotypes and misconceptions in society.
The project Third Eye launched in 2024. The closing ceremony of this project was held on 18 October 2025 (Saturday) at the Faculty of Arts Building, University of Dhaka. A total of 25 visually-impaired, physically, and disabled students from the University of Dhaka and the National University participated in the program.
Certificates were awarded to all trainees, and special honors were presented to everyone involved in organizing the event by Md Altamis Nabil, JCI Bangladesh 2025 National Executive Vice President. He stated that JCI Bangladesh believes Project Third Eye 2.0 is not just a local initiative—it is a sincere commitment to achieving the UN Sustainable Development Goals (SDGs) and a proactive step toward building a more inclusive world. He highly appreciated and praised this remarkable initiative of JCI Dhaka West.
Under the guidance and patronization of Sujaur Rahman Emon, 2025 Local President of JCI Dhaka West, all activities of the project were successfully executed. He stated that at JCI Dhaka West, we believe that the greatest wealth of the world lies within humanity itself. Project Third Eye 2.0 is not merely a training program; it is an effort to unlock the indomitable confidence and hidden potential of specially-abled youth. The skills they have acquired will undoubtedly illuminate their professional journey and mark a strong step toward building an equitable and inclusive society.
Project Director Ahmed Wazedul Haque Khan said, “Project Third Eye 2.0 is not just a workshop or a project; it is a vital movement in transforming the corporate culture of Bangladesh. We believe that physical or any other limitations can never limit one’s dreams. These young individuals are now prepared to lead corporate sectors based on their talent and merit.”
Under the supervision of Audrika Eshna Purbasha, Local Vice President of JCI Dhaka West, Project Director Ahmed Wazedul Haque Khan, and Project Lead Jobayer Ahmed accomplished and carried out the project with tremendous success.
The project and training workshop were successfully completed with the support and sponsorship of Youth Upskill Network, GearLaunch, Global Travels, NextGen, National University Skill Development Forum (NUSDF), Savory and Ignite Global Foundation.
It is worth mentioning that Junior Chamber International (JCI) is an organization for enthusiastic young people aged 18 to 40. Its headquarters is located in St. Louis, Missouri, United States. JCI operates in more than 120 countries with over 200,000 active members.
You must be logged in to post a comment Login