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Lee Gyu-lee

Korea Times Business Reporter

Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.

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Tech & Science

Telecom companies eye AI as new growth engine

Telecom giants KT, SK Telecom and LG Uplus are sharpening their focus on artificial intelligence (AI) as the next big catalyst for growth, with all posting first-quarter earnings from doubling down on AI-centered digital transformation (AX) strategies to redefine their future business. The three companies released their first-quarter earnings in the past week. KT, which recorded an operating profit of 688.8 billion won ($485.85 million) in the first quarter, saw a 10.2 percent rise in AI and IT-related revenue compared to the same period last year, with the company strengthening its AI contact center and IT-related build-out projects. LG Uplus saw a 15.6 percent increase in its operating profit at 255.4 billion won with the scaling up of its AI-powered business-to-business (B2B) infrastructure service. It shared that since launching AX, it has been showing steady growth, recording a 0.4 percent increase at 118.9 billion won revenue from its solution businesses, such as smart mobility and the AI contact center. Meanwhile, SK Telecom's operating profit jumped 13.8 percent to 567.4 billion

May 13, 2025By Lee Gyu-lee
Telecom companies eye AI as new growth engine
Tech & Science

LG Innotek partners with Boston Dynamics to develop robot components

LG Innotek is joining hands with global robotics leader Boston Dynamics to develop components for robots. The electronics component affiliate of LG Group announced Monday that the two firms have signed an agreement to jointly develop an automated vision-sensing system that acts as the eyes of robots. “By collaborating with Boston Dynamics, a world leader in robotics, LG Innotek will gain an advantage in the robotics components market," LG Innotek CEO Moon Hyuk-soo said. “We will continue to introduce core components for robots that lead the robotics era and create differentiated customer value.” LG Innotek will develop a vision-sensing module and install it in Boston Dynamics’ next-generation version of a humanoid robot, Atlas. Boston Dynamics will develop software that effectively processes visual data collected from the vision-sensing module. A vision sensing system integrates various sensing components, such as red, green and blue cameras and three-dimension sensing modules, into a single module. The components interact and synthesize information to allow robots to accurately r

May 12, 2025By Lee Gyu-lee
LG Innotek partners with Boston Dynamics to develop robot components
Others

Korea, US set to embark on advanced trade talks during APEC meeting

Korea and the United States are expected to hold a second round of high-level trade talks this week on the sidelines of the upcoming Asia-Pacific Economic Cooperation (APEC) ministerial meeting here to fine-tune the details for their possible "July package" deal. The U.S. delegation includes U.S. Trade Representative (USTR) Jamieson Greer who will visit Korea's southern Jeju Island for two days from Thursday for talks with Trade Minister Cheong In-kyo. There is a possibility that Industry Minister Ahn Duk-geun will also fly to Jeju to address Korea's challenges and arrange a schedule for future talks. The APEC ministers' meeting is held to discuss trade-related issues ahead of the APEC summit in Gyeongju, North Gyeongsang Province, this October. Both countries held their first round of trade talks last month under a "two-plus-two consultation" format with finance and trade ministers from both countries. Given Korea's ongoing leadership vacuum — triggered by the impeachment of former President Yoon Suk Yeol — the government's basic stance is that the next administration, which will be

May 11, 2025By Lee Gyu-lee
Korea, US set to embark on advanced trade talks during APEC meeting
Tech & Science

Netflix under fire for rate hike as rivals freeze fees

Netflix has come under criticism for its excessive rate hike of 27.3 percent here, while rival streaming platforms have opted to freeze their respective subscription fees. The streaming giant announced Friday that it is raising prices for its Standard with Ads and Basic plan, marking its second price hike after increasing the Standard and Premium plans in 2021. The ad-supported plan, which was previously 5,500 won ($3.93), is now 7,000 won per month, representing an increase of about 27 percent. Meanwhile, the Basic plan has increased by 26 percent, from 9,500 won to 12,000 won. As the Basic plan has been discontinued for new subscribers, the change only applies to existing users who have maintained the plan. The new price took effect for new members on the day, while existing members will see the new prices reflected in their next subscription bill. The Standard and Premium plans will remain at their current prices, along with the Naver Plus membership, which includes access to Netflix's ad-supported plan for 4,900 won per month. The price increase in Korea marks the third highest among

May 11, 2025By Lee Gyu-lee
Netflix under fire for rate hike as rivals freeze fees
Tech & Science

AutoForm to build digital automotive ecosystem in Korea

Swiss industrial software developer AutoForm Engineering said, Thursday, it plans to invest in creating a digital automotive ecosystem in Korea, outlining its strategies to expand cooperation with local clients and nurture emerging talent. “In the current car industry, Hyundai and Kia are the top carmakers in the world. And one reason is that because Korea goes through a lot of innovations, making it a leading country in the industry,” AutoForm Group CEO Olivier Leteurtre said during a press conference in Seoul. “The future of manufacturing will be determined by a digital collaboration ecosystem. AutoForm is creating an environment where predictions and decisions are made based on data rather than experience by precisely connecting complex processes and data in the molding industry." AutoForm is a leading software provider for car manufacturing, holding about 70 percent of the market share. Its software allows product manufacturability, tool and material cost calculation, die face design and virtual stamping, as well as body in white (BiW) assembly process optimization. It has been

May 8, 2025By Lee Gyu-lee
AutoForm to build digital automotive ecosystem in Korea
Tech & Science

SKT could lose $5 bil. if early termination fee is waived

SK Telecom CEO Ryu Young-sang said Thursday the company could face significant profit losses if it waives early termination fees for users following a recent data breach incident. During a National Assembly hearing, the CEO said the company estimates it could lose up to 5 million users per month if it waives the early termination fees. This could result in a financial loss of up to 7 trillion won ($5 billion), including both the termination fees and three years' worth of revenue from those users. Ryu said about 250,000 users have already switched to different carriers since the data breach, which was detected on April 18 and led to a massive leak of customers’ universal subscriber identity module (USIM) data. “If we waive the fees, we expect the number to go over 10 times the current number to 2.5 million users who will switch off (to different carriers),” he said. He explained that the termination fees alone would cost the company about 250 billion won, based on an average fee of 100,000 won per person. Waiving early termination fees has been suggested as a damage control measure,

May 8, 2025By Lee Gyu-lee
SKT could lose $5 bil. if early termination fee is waived
Companies

Timeline of Korea's nuclear reactor deal with Czech Republic remains unclear

Concerns are rising that a Czech court’s temporary halt to a nuclear reactor construction deal between Korea and the Czech Republic may be prolonged, with both governments unaware when the court will make a decision on whether to allow the deal to proceed or not. While the high-profile delegation from Korea was already heading to the European country to sign the deal when the court issued the injunction, the Korean government is trying to downplay the diplomatic discourtesy, showing optimism for the final deal. The concerns came after a local court in the Czech Republic issued the injunction Tuesday to prevent the country's main electricity firm, Czech Power Company (CEZ), from signing a 26 trillion won ($18.6 billion) contract with a Korean consortium, led by Korea Hydro & Nuclear Power (KHNP). The deal was to build two 1,000-megawatt nuclear reactors at Dukovany Nuclear Power Plant, the biggest public procurement project in Czech history and Korea's first nuclear reactor export since 2009. The court granted the injunction by accepting a complaint from the losing bidder, France's EDF,

May 7, 2025By Lee Gyu-lee
Timeline of Korea's nuclear reactor deal with Czech Republic remains unclear
Tech & Science

Will Korean firms' free ad-supported streaming TV biz rival global services?

For the past few years, streaming services have dominated the media content industry, as the COVID-19 pandemic drew homebound viewers across the world into subscriptions. However, as the bygone peak of the streaming boom fades, viewers grow increasingly fatigued with mounting subscription fees and complex options, prompting the industry to turn its eyes on free ad-supported streaming TV (FAST) services, which offer content for free in exchange for ads. Coupled with stagnation in the conventional internet protocol TV (IPTV) business, internet providers including SK Broadband, KT and LG Uplus are placing big bets on FAST as an alternative, positioning it as the next wave in digital media with ambitions to expand both locally and globally. According to a Korea Communications Commission report in March, the number of subscribers for paid broadcasting services, including IPTV and cable TV, stood at 36.29 million in 2023, while their combined revenue was about 7.23 trillion won ($52.35 billion). This represented 0.01 percent and 0.4 percent growth compared to the previous year, respectively. A

May 7, 2025By Lee Gyu-lee
Will Korean firms' free ad-supported streaming TV biz rival global services?
Others

Asan Institute chair awarded honorary doctorate from Korea University

Korea University has awarded an honorary doctorate in political science to Chung Mong-joon, founder and honorary chairman of the Asan Institute for Policy Studies. The university held a ceremony Monday at its Seoul campus to award the degree in recognition of Chung's contributions to social welfare and his efforts to support younger generations through the Asan Foundation and the Asan Nanum Foundation. The honorary doctorate also acknowledges Chung’s dedication to advancing political, diplomatic and national security affairs during his seven terms as a lawmaker. "Chairman Chung has shed light on Korea’s future in various fields including politics and diplomacy," Korea University President Kim Dong-one said. “His life and footsteps embody leadership with values of intellectualism and public service, which deeply align with Korea University's vision to contribute to the future of humanity. The chairman's future endeavors will continue to lead positive changes for our society and the world." Chung studied economics at Seoul National University as an undergraduate and earned a Master o

May 7, 2025By Lee Gyu-lee
Asan Institute chair awarded honorary doctorate from Korea University
Tech & Science

Kakao offers glimpse into its AI model's performance

Kakao on Thursday showcased the performance of its highly anticipated artificial intelligence (AI) model, Kanana, introducing Korea’s first multimodal large language model (LLM) that can simultaneously understand and process text, voice and images. On its official tech blog, the online platform giant unveiled the performance report of the multimodal model, known as Kanana-o. Kakao said Kanana-o is the country’s first AI model capable of understanding and processing various types of information simultaneously, including text, voice, and images. Users can input questions in any combination of the three, and the model generates a response with the appropriate text or voice based on the situation. Kanana-o was trained by learning image, audio and text data simultaneously, and uses speech emotion recognition technology to correctly interpret user intentions and analyze non-verbal signals, such as intonation, speech patterns, and voice trembling. This enables the model to generate contextually appropriate and coherent responses in a natural, human-like voice, the company noted. The multimo

May 1, 2025By Lee Gyu-lee
Kakao offers glimpse into its AI model's performance
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