Samsung Electronics formally names de facto leader Jay Y. Lee executive chairman; his ascension had been delayed by graft investigations and two stints in jail (Sohee Kim/Bloomberg)

Jack Schickler / CoinDesk:
A Netherlands court finds Tornado Cash developer Alexey Perstev is a flight risk and must remain in jail until February 20, 2023; Perstev was jailed in August  —  Pertsev has been in Dutch prison since August, accused of facilitating money laundering for his work on the U.S. Treasury-sanctioned app.

Sam Kim / Bloomberg:
South Korea’s trade ministry data shows its DRAM chip exports fell 24.7% YoY in August 2022, the biggest drop since 2019, indicating a deepening slump in demand  —  South Korea’s exports of its most lucrative memory chip fell by the most since 2019, indicating a deepening slump in technology demand central to global economic growth.

Hooyeon Kim / Bloomberg:
A South Korean court issues an arrest warrant for Terraform Labs founder Do Kwon and five others located in Singapore, following the collapse of LUNA and UST  —  A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem …

Joyce Lee / Reuters:
Samsung Electronics pledges to invest $5B+ in R&D on tech to achieve net zero emissions for its devices business by 2030 and across the company by 2050  —  Samsung Electronics (005930.KS) will invest over 7 trillion won ($5.02 billion) by 2030 as part of sweeping environmental initiatives aimed …

Bryan Pietsch / Washington Post:
A recent Kakao outage has raised monopoly concerns in South Korea; the company had previously claimed it had ~47.5M active users in the country of 51M+ people  —  SEOUL — In South Korea, Kakao is ubiquitous.  Nearly everyone, from schoolchildren to the elderly, uses the Korean tech company’s apps …

Kim Jaewon / Nikkei Asia:
Samsung says its Q3 profit dropped 31.7% YoY to $7.7B amid inflation and estimates that revenue for Q3 increased 2.7% to about $53B  —  South Korean tech company may suffer poor earnings in coming quarters  —  SEOUL — Samsung Electronics said Friday that its operating profit likely fell …