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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

SKT meets with IonQ to discuss business initiatives

SK Telecom CEO Ryu Young-sang met with IonQ Executive Chair Peter Chapman Thursday to discuss cooperation between the two companies. According to the Korean telecommunication operator, the meeting at its headquarters in Seoul was also attended by senior SK Telecom officials, along with Chief Financial Officer Thomas Kramer and Vice President of Sales and Strategic Partnerships Philip Farah from the U.S. quantum computing company. During the meeting, the two companies explored potential cooperation on quantum business initiatives as a follow-up to their recent strategic alliance agreement. Reconfirming their shared interest in areas such as quantum networking and quantum security, they discussed strengthening and developing their cooperation in these areas. "Cooperation with IonQ is an opportunity for SKT to expand its business area not only to quantum security but also to quantum computing," Ryu said. "SKT will continue to invest and cooperate to lead the market in the future." SKT and IonQ also examined the possibility of expanding SKT's current quantum security business partnerships wi

Apr 17, 2025By Lee Gyu-lee
SKT meets with IonQ to discuss business initiatives
Tech & Science

LG CNS to supply EV charger, smart pole system to US

LG CNS will provide its smart city technology for the U.S. public sector, making its first deals with cities in New York and Georgia. The company recently signed an agreement with the New York City Economic Development Corp. for a pilot project to implement electric vehicle (EV) chargers and control systems. The deal involves building and operating EV charging stations at the Brooklyn Army Terminal, a startup hub that allows companies to test their technologies in real environments before commercializing them. The company will also manage a charging control system and app that can monitor real-time energy usage data. Users can check charging status, real-time availability and make reservations through the app. For the project, the company will use its smart city platform, City Hub Building, which monitors and controls various facilities based on Internet of Things (IoT) technology. The system will allow real-time monitoring for malfunctions and power usage through remote sensor control, as well as displaying digital content with digital signage. Starting with the contract, LG CNS plans t

Apr 17, 2025By Lee Gyu-lee
LG CNS to supply EV charger, smart pole system to US
Companies

KT dedicated to employing AI in media business

KT has rolled out its strategy to bolster its media business, KT Media New Way, pledging a 500 billion won ($350.2 million) investment to 2026 as it seeks a breakthrough in a struggling media industry landscape. “The entire value chain of content production is being rapidly restructured, revolving around global streaming services,” Kim Chae-hee, executive vice president of KT Media Group, said during a press conference in Gangnam District, Seoul, Wednesday. “Our media division was founded (late last year) with the purpose of making the media business one of KT Group’s three major portfolios. As simply following past success strategies has clear limitations, we believe we must find a new path unique to KT Media.” The new strategic plan includes three pillars: implementing an artificial intelligence (AI) agent in its media platform, using AI technology in the overall production of its original content and revamping its IPTV service to adopt a new business model. The company will be implementing an AI agent, which it developed in collaboration with Microsoft, on its IPTV platform

Apr 16, 2025By Lee Gyu-lee
KT dedicated to employing AI in media business
Society

Civic groups urge Naver to ban online sales of whale meat

Civic groups on Tuesday urged tech giant Naver to stop the sale of whale meat on its platform, condemning the company's negligence in the distribution of meat from protected species. Eight groups, including the Korea Federation for Environmental Movements (KFEM), marine conservation groups Hotpink Dolphins and Sea Shepherd Korea and Korea Animal Rights Advocates (KARA), held a press conference outside the company’s headquarters in Seongnam, Gyeonggi Province. They noted despite all whale species, including minke whales, being prohibited from being intentionally hunted in Korea, whale meat is still being sold on the platform. Under Korean law, sellers are required to present a whale processing certificate to prove the meat was obtained legally, such as from whales accidentally caught in fishing nets, and not through illegal hunting. The groups said around 42 whale meat products are listed on the platform, with price comparison and Smart Store services that allow users to directly purchase minke whale meat using Naver Pay. When the groups approached the sellers to request their certificat

Apr 15, 2025By Lee Gyu-lee
Civic groups urge Naver to ban online sales of whale meat
Companies

Hyundai Motor brings in former US congressman to lead Washington office

Hyundai Motor Group said Tuesday it has named former U.S. congressman Drew Ferguson as the director of its Washington D.C. office. The new director, who begins his role May 1, will oversee all communication between the company and the U.S. government. “With his deep understanding of the overall U.S. legislative process and experience coordinating various policies, Director Ferguson is expected to play a key role in further solidifying Hyundai Motor Group's cooperation with the U.S. government and policymakers in the automotive industry and future technology areas such as robotics and urban air mobility,” the company said in a press release. Ferguson is a former four-term Republican congressman from Georgia, serving from 2017 to 2024. From 2019 to 2023, he was chief deputy whip for House Republicans and is known for his deep understanding of U.S. President Donald Trump administration’s policies. He chaired the subcommittee on social security for the Committee on Ways and Means, and served as a member of the Committee on the Budget and the Joint Economic Committee. The director active

Apr 15, 2025By Lee Gyu-lee
Hyundai Motor brings in former US congressman to lead Washington office
Tech & Science

Naver keeps Google in check over map service for tourists

As Google again seeks access to Korea’s high-precision map data for Google Maps, the country's portal giant Naver is striving to maintain its edge with foreign users, rolling out a new tourist-friendly campaign. The BE LOCAL campaign, which will run from Monday through May 13, introduces restaurants, cafes, fashion stores and cultural spaces trending among local young people in popular tourist areas such as Myeong-dong, Seongsu-dong, Itaewon and Hannam-dong. With the feature, tourists will be able to quickly see restaurants, attractions, and activity spots that local users in their 20s and 30s most frequently saved on the map. As part of the campaign, the company collaborated with popular fashion, cosmetic and lifestyle brands among foreigners like Olive Young, Innisfree and Musinsa to offer discount coupons on the platform. Beginning in May, it will also give out limited-edition BE LOCAL campaign merchandise to users who download the map’s app and visit collaborating brands. "Naver Map is a platform that best understands Korea's latest trends based on the country's largest location

Apr 14, 2025By Lee Gyu-lee
Naver keeps Google in check over map service for tourists
Companies

Shinsegae introduces new luxury house ‘The Heritage’

Shinsegae Department Store opened its new outlet, The Heritage, on Wednesday, transforming a 90-year-old historical site into a complex that combines a cultural space with a luxury boutique. The five-story building, located next to Shinsegae’s main store in Myeong-dong in central Seoul, refurbished the former headquarters of Cheil Bank, which was built in the early 1930s and designated as a cultural property of Seoul in 1989. While preserving its historical and cultural significance, Shinsegae has repurposed the space into a luxury destination featuring high-end designer brands and curated art exhibitions. On the basement level, The Heritage houses a gift shop specializing in traditional Korean crafts, designed to attract foreign visitors who have an appreciation for the country's culture. The basement floor also includes prestigious global brand boutiques such as French crystal houses Lalique and Baccarat and Danish audio brand Bang & Olufsen. A Chanel boutique takes up the first and second floors of the building. Designed by American architect Peter Marino, the store not only sells Ch

Apr 14, 2025By Lee Gyu-lee
Shinsegae introduces new luxury house ‘The Heritage’
Companies

Naver and Kakao’s favorite characters to collaborate

Naver's popular webtoon character Maru from “Maru is a Puppy” and Kakao Friends’ character Choonsik will meet in a merchandise collaboration in a rare example of partnership between Korea's top internet service companies. According to Naver Webtoon on Friday, it will roll out a short webtoon on Instagram on Monday showing Maru and Choonsik's new friendship. Collaborative merchandise featuring both characters will be unveiled on Wednesday and Thursday and will be available for sale on April 18. The merchandise will be sold on Naver Webtoon's online merchandise store, Webtoon Friends, and on Kakao Friends’ online and offline stores, as well as online platforms like Kakao Talk, 29cm and Musinsa. The webtoon “Maru is a Puppy” follows the daily life of a poodle named Maru who suddenly turns into a human child. It has gained enormous popularity, resulting in a profusion of memes and accumulating a total of over 270 million views since it was first released in 2022. Despite the series ending last November, the company helped maintain its popularity through collaborations and pop-up

Apr 11, 2025By Lee Gyu-lee
Naver and Kakao’s favorite characters to collaborate
Tech & Science

Kakao's struggle deepens over unit selloff rumors

Kakao’s efforts to streamline its sprawling business portfolio are facing headwinds, as a mix of rumors and facts surrounding the platform giant’s possible divestment of affiliates is sending negative signals to the market. According to industry officials on Friday, Kakao Entertainment co-CEOs Kweon Ki-su and Joseph Chang recently told the company’s employees that reports alleging Kakao is planning to sell the entertainment unit are “misrepresented.” “Kakao was in discussions over changes in Kakao Entertainment’s shareholding structure of its financial investors, and we believe that details from the process were misrepresented,” the CEOs said. Earlier this week, local news outlets reported that Kakao sent letters to major shareholders of Kakao Entertainment, including Anchor Equity Partners, a Hong Kong-based private equity firm, and Chinese company Tencent, expressing its intention to sell its stake in the subsidiary. Kakao, which holds a 66 percent stake in Kakao Entertainment, has been seeking to list the entertainment unit since 2019 but faced skepticism that the init

Apr 11, 2025By Lee Gyu-lee
Kakao's struggle deepens over unit selloff rumors
Tech & Science

Korea forms K-Humanoid Alliance

The global race to develop humanoid robots is heating up like never before, especially with the rapid advancements in artificial intelligence advancing the technology. Amid the fierce competition, the Ministry of Trade, Industry and Energy launched the K-Humanoid Alliance, Thursday, bringing together leading robotics experts, scholars and companies. The alliance is expected to attract over 1 trillion won ($685.12 million) in investments by 2030. “We are now entering a wave of AI innovation going beyond generative AI into physical concept. (Global) Big Tech companies have fully entered the humanoid competition, which is becoming the next AI battlefield … This industry is directly connected to the future competitiveness in the manufacturing industry, so it’s a crucial opportunity for our economic growth,” Industry Minister Ahn Duk-geun said in his opening remarks at the alliance’s launching ceremony in Seoul, Thursday. “Fortunately, we possess a strong manufacturing portfolio that is essential for humanoids … While our companies and talent are already demonstrating excellenc

Apr 10, 2025By Lee Gyu-lee
Korea forms K-Humanoid Alliance
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