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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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Companies

Korea Zinc, Australian government discuss critical minerals cooperation

Korea Zinc said Friday that it has come to an agreement with the Australian government to strengthen communication and explore new opportunities for cooperation aimed at advancing critical minerals value chains and enhancing supply chain resilience. According to the company, Chairman Choi Yun-birm met with Australian Prime Minister Anthony Albanese in Canberra on Wednesday to discuss ways to bolster Australia's critical minerals supply chain and improve the competitiveness of its smelting industry. During the meeting, Choi introduced Korea Zinc's Project Crucible, a large-scale integrated smelter project currently under development in Tennessee. Under the project, Korea Zinc plans to invest a total of $7.4 billion by 2029 to build an integrated smelting facility in Clarksville, Tennessee, capable of processing approximately 1.1 million tons of raw materials annually. Choi explained that the project combines Korea Zinc's advanced smelting technology with policy support from the U.S. government to help establish a stable and secure critical minerals supply chain. In response, Albanese descr

Jun 26, 2026By Lee Gyu-lee
Korea Zinc, Australian government discuss critical minerals cooperation
Companies

LS vice chairman highlights North America as cornerstone of global growth strategy

LS Group Vice Chairman Myung Roe-hyun underscored North America as central to the company’s global growth strategy, pledging to position the company at the forefront of the global power and energy industry through expanded investment in the region. During a 10-day visit to the United States beginning June 17, Myung met government officials and key stakeholders and inspected production sites, including the upcoming submarine power cable plant in Virginia, as the group ramps up its North American expansion, aiming to establish global leadership in power and energy. "North America represents an enormous opportunity, with decades of expansion expected to be driven by artificial intelligence (AI) data center buildouts, aging power grid upgrades and investments in renewable energy infrastructure," Myung said. "By concentrating the group's resources on our operations across 17 sites in nine U.S. states, including the Virginia submarine cable plant, and ensuring their successful execution, we aim to establish LS as a global leader in the power and energy industry." On June 18, Myung joined the

Jun 26, 2026By Lee Gyu-lee
LS vice chairman highlights North America as cornerstone of global growth strategy
Tech & Science

SK hynix to raise up to $29.4 bil. via Nasdaq ADR offering

SK hynix is set to raise up to 45.45 trillion won ($29.4 billion) through an American depositary receipt (ADR) offering backed by newly issued shares, expanding its global investor base and funding major semiconductor projects. The chip giant said Wednesday that its board approved the ADR issuance, with the securities set to debut on Nasdaq on July 10. Depositary receipts are bank-issued securities that represent shares in a foreign company, allowing investors to trade them on local exchanges. Under the offering structure, newly issued common shares will be deposited with a local custodian in Korea, and a U.S. depositary bank will issue ADRs representing those underlying shares for trading on Nasdaq. The indicative price is set at 255,500 won per ADR, based on the company's Tuesday closing price of 2.555 million won for the underlying common shares. Each ADR will represent 0.1 of a common share, with up to 17.79 million new shares to be issued under the offering. Bank of America, Citi, Goldman Sachs and J.P. Morgan are acting as joint lead underwriters for the offering. The Korea Securiti

Jun 24, 2026By Lee Gyu-lee
SK hynix to raise up to $29.4 bil. via Nasdaq ADR offering
Tech & Science

KT targets enterprise AX market with AI Innovation Hub

KT is deepening its push into the enterprise artificial intelligence (AI) transformation market with its AI Innovation Hub designed to help companies move beyond pilot projects to turn AI investments into measurable business results. Located at the company’s headquarters in Gwanghwamun, central Seoul, the facility serves as an end-to-end AI development environment. Corporate clients can define business problems, test AI models on proprietary data and refine outputs before committing to full-scale deployment. “Companies often struggle to determine where to begin with AI adoption, or find that pilot projects fail to translate into real-world deployment due to various operational hurdles,” Jeon Seung-rok, KT’s senior vice president and go-to-market unit lead, said during a media briefing at its headquarters on Tuesday. “The Innovation Hub is intended to address these challenges and help clients jointly define their AI transformation strategy.” KT said about 200 companies have visited the facility since the hub opened last October, with more than 30 progressing to actual deployme

Jun 24, 2026By Lee Gyu-lee
KT targets enterprise AX market with AI Innovation Hub
Companies

LG launches wireless wallpaper, transparent OLED TVs

LG Electronics said Wednesday it launched two new premium television models, beginning in Korea and gradually expanding to global markets, as it seeks to strengthen its leadership in the OLED TV segment. The new models are the wireless wallpaper TV LG Signature OLED W and the wireless transparent TV LG Signature OLED T, both featuring the company's latest display and wireless transmission technologies. The LG Signature OLED W, a 2026 model, features an ultraslim design measuring just 0.9 centimeters thick. It is equipped with LG's wireless transmission technology, which became the world's first to receive TUV Rheinland's "True Wireless Low Latency Vision" certification, enabling real-time transmission of 4K content at up to 165 hertz without noticeable latency or loss of picture quality. The TV is powered by LG's latest artificial intelligence (AI) picture and sound processor, the third-generation Alpha 11 chip, and offers a range of AI features, including AI concierge, AI search and AI chatbot, which provide personalized content recommendations and user assistance. The LG Signature OLED

Jun 24, 2026By Lee Gyu-lee
LG launches wireless wallpaper, transparent OLED TVs
Tech & Science

LG Chem bets $9.7 bil. on semiconductors, mobility, robotics materials

LG Chem will be investing 15 trillion won ($9.74 billion) in research and development through 2035 as the company pivots toward artificial intelligence (AI)-driven growth areas, including semiconductors, mobility and robotics. During the company’s town hall meeting on Monday, CEO Kim Dong-choon outlined the strategy to sharpen its portfolio around four core future pillars: semiconductor, mobility and robotics materials and oncology drugs, aiming for a double-digit operating margin by 2030. The move comes as profitability in traditional petrochemical businesses weakens amid global oversupply and intensifying competition. Under the plan, the company will allocate about 70 percent of the investment to strategic sectors, including semiconductor, mobility and robotics materials, while accelerating efforts to secure leading technologies and new AI-enabled applications. To speed up execution, the company has already established a CEO-led new business development unit this month. “LG Chem will strengthen the competitiveness of its existing businesses while concentrating resources on future gr

Jun 23, 2026By Lee Gyu-lee
LG Chem bets $9.7 bil. on semiconductors, mobility, robotics materials
Tech & Science

Samsung unveils industry’s 1st UFS 5.0 memory optimized for on-device AI

Samsung Electronics unveiled its latest universal flash storage (UFS) 5.0 solution on Tuesday, targeting surging demand for faster and more power-efficient storage as artificial intelligence (AI) workloads increasingly shift from the cloud to on-device processing. The development comes as generative AI applications become increasingly capable of running directly on devices, driving a sharp increase in the volume of data handled locally and transforming storage from a simple data repository into critical infrastructure for AI workloads. The company said its UFS 5.0 sets a new benchmark for mobile memory, with improved performance expected to cut latency and speed up response times for large language models running on-device. “In the era of on-device AI, storage devices are evolving into a key driver defining AI experiences,” said Choi Jang-seok, Samsung Electronics’ head of memory product planning. “As we successfully move beyond the development stage of the industry’s first UFS 5.0 solution, Samsung is setting a new standard for storage on the go and will continue to drive inno

Jun 23, 2026By Lee Gyu-lee
Samsung unveils industry’s 1st UFS 5.0 memory optimized for on-device AI
Defense

Industry minister shows confidence in Korea's submarine bid despite geopolitical hurdles

Industry Minister Kim Jung-kwan signaled confidence in the competitiveness of Korea’s submarine proposal for Canada’s multibillion-dollar fleet renewal project. However, he cautioned that rising geopolitical pressures and Ottawa’s emphasis on NATO interoperability could cloud the final decision, with Germany as the other contender. Hanwha Ocean is competing with Germany's TKMS for the $39 billion project to replace the Royal Canadian Navy’s aging fleet of four Victoria-class submarines with 12 new 3,000-ton diesel-electric vessels, with the contract also covering long-term maintenance, repair and overhaul (MRO) services. The project is seen as a pivotal opportunity for Korea’s shipbuilding sector and a gateway to expanding its defense footprint in North America. The Canadian government is expected to select a preferred bidder by the end of this month. “If (Korea) wins, it would suggest that Canada placed greater weight on the industrial cooperation package than on NATO considerations,” the minister said during a press briefing at Government Complex Sejong, Monday. “Given th

Jun 23, 2026By Lee Gyu-lee
Industry minister shows confidence in Korea's submarine bid despite geopolitical hurdles
Tech & Science

OpenAI lands Samsung as major ChatGPT Enterprise customer

OpenAI is set to supply its chatbot ChatGPT Enterprise and its artificial intelligence (AI) coding agent Codex to Samsung Electronics employees worldwide as part of the Korean tech giant's companywide push to accelerate its AI transformation. Under the deal, the services will be available to all employees in Korea and to staff across the company’s Device eXperience (DX) Division worldwide. The agreement marks a significant expansion of OpenAI’s enterprise footprint, positioning Samsung among its largest global customers. Samsung plans to embed the generative AI tools across a wide range of functions, including software development, marketing, product design and manufacturing, to boost productivity and strengthen problem-solving capabilities. “This deployment is significant in OpenAI’s history because Samsung, a global technology and manufacturing leader, is adopting AI not as a tool specific for certain teams or tasks but as a core platform to enhance the way employees work and innovate across the organization,” OpenAI Korea General Manager Kim Kyoung-hoon said. “OpenAI will w

Jun 22, 2026By Lee Gyu-lee
OpenAI lands Samsung as major ChatGPT Enterprise customer
Companies

GS E&C partners with I Squared Capital to expand renewable energy development

GS Engineering & Construction (GS E&C) is accelerating its shift toward an energy transition and developer-led business model as it seeks new growth engines in renewable energy beyond traditional construction. The company said Monday it signed a memorandum of understanding (MOU) with global infrastructure investor I Squared Capital to establish a joint venture aimed at developing renewable energy projects in Korea, including solar power and battery energy storage systems (BESS). I Squared Capital, founded in 2012, is a global infrastructure investment firm managing more than $60 billion (90 trillion won) in assets, with a focus on power and utilities, transport, digital infrastructure, environmental systems and social infrastructure. The signing ceremony was attended by GS E&C CEO Huh Yoon-hong and executives from I Squared Capital. The partnership marks a strategic move for GS E&C as it expands from an engineering, procurement and construction contractor into a full-scale project developer securing energy assets from the early stages. Under the agreement, the two companies plan to devel

Jun 22, 2026By Lee Gyu-lee
GS E&C partners with I Squared Capital to expand renewable energy development
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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.