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Nam Hyun-woo

Korea Times Business Reporter

Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.

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Companies

Doubts on AI investment to test Korean economy

Growing concerns over the sustainability of the global artificial intelligence (AI) investment boom are translating into mounting financing pressures on major tech companies, raising fears that a slowdown in AI spending could deal an outsized blow to Korea's semiconductor-dependent economy. Tech giants such as Google, Meta and Amazon are heavily relying on debt to finance their massive capital expenditures, as borrowing costs continue to rise. This also adds pressure to the fundraising plans of AI developers such as OpenAI and Anthropic. This could eventually slow the pace of AI investment and weigh on memory chip prices, potentially sending shock waves through Korea's broader economy, which heavily relies on corporate tax revenue from Samsung Electronics and SK hynix. Google's parent company Alphabet disclosed on Wednesday that its capital expenditures amounted to 121.4 percent of the cash generated from operating activities, meaning the company spent more on investments, mostly in AI infrastructure, than it generated from its operations. Its free cash flow (FCF) remained negative for t

15h agoBy Nam Hyun-woo
Doubts on AI investment to test Korean economy
Companies

Samsung SDS breaks ground on AI data center in Gumi

Samsung SDS has begun construction of an artificial intelligence (AI) data center in Gumi, North Gyeongsang Province, marking the first step in Samsung Group's 60 trillion won ($44.6 billion) investment plan for the Yeongnam region. The company said Monday that the facility will be built on a 46,000-square-meter site in Gongdan-dong, with an initial power capacity of 60 megawatts, which can be expanded to 120 MW to meet growing demand for AI computing infrastructure. Construction began after Gumi City approved the project in late August, with completion targeted for the end of 2028. The project is part of Samsung's plan, announced in July, to turn the Yeongnam region into a global hub for physical AI innovation. The investment roadmap covers humanoid robots and AI data centers in Gumi, all-solid-state batteries in Ulsan, advanced packaging substrates and multilayer ceramic capacitors (MLCCs) for AI servers in Busan and high-value-added vessels in Geoje, South Gyeongsang Province. Samsung SDS said the facility will provide critical infrastructure for AI-driven manufacturing and robotics a

15h agoBy Nam Hyun-woo
Samsung SDS breaks ground on AI data center in Gumi
Companies

Samsung chairman highlights chip packaging, visits Japanese unit

Samsung Electronics Executive Chairman Lee Jae-yong visited the company’s semiconductor advanced packaging technology laboratory in Japan, Sunday, pledging to continue expanding its research workforce there and develop the lab into a global R&D hub for next-generation packaging technologies. According to Samsung Electronics, Lee visited Advanced Package Lab (APL) in Yokohama and discussed with researchers the latest developments in technologies for advanced packaging materials and processes, as well as ways to strengthen cooperation with Japan's materials, parts and equipment industries. Lee stressed the importance of securing advanced packaging technologies, as they are emerging as critical for artificial intelligence (AI) processor chips. APL was established in 2023 and held its official opening ceremony in September this year. Starting in 2024, Samsung Electronics has been investing 40 billion yen ($254 million) over five years to establish its research infrastructure in Japan and strengthen its competitiveness in advanced packaging technologies. APL specializes in developing and va

1d agoBy Nam Hyun-woo
Samsung chairman highlights chip packaging, visits Japanese unit
Tech & Science

OpenAI CEO's Codex keyboard gift to Samsung presidents draws attention

A miniature keyboard presented by OpenAI CEO Sam Altman to Samsung Group executives is drawing attention, as the device is designed not for conventional typing but specifically for vibe coding using OpenAI's Codex. The gift is being seen as a glimpse into what Altman described to the executives as OpenAI's vision for the future of computer interaction. According to OpenAI and Samsung, Altman visited a Samsung Group training center in Yongin, Gyeonggi Province, Saturday and engaged in a fireside chat with more than 50 presidents of Samsung Electronics and other affiliates. During the event, Altman presented the Samsung executives with Codex Micro keyboards, designed to be used with Codex. Altman said the keyboard reflects the idea that people may no longer need a full keyboard in a world where they can interact with computers through voice commands and artificial intelligence (AI), adding that the device could also help users work with Codex more quickly. The Codex Micro Keyboard is a miniature keyboard released as the first hardware product under the OpenAI brand. Developed in collaborati

1d agoBy Nam Hyun-woo
OpenAI CEO's Codex keyboard gift to Samsung presidents draws attention
Companies

Hanwha bags 1st US Navy shipbuilding order

Hanwha Group has won its first contract to build a warship for the United States Navy after its acquisition of Philadelphia-based Philly Shipyard in December 2024, marking a tangible step forward in the Korea-U.S. shipbuilding cooperation initiative known as Make American Shipbuilding Great Again (MASGA). Hanwha Group said Sunday that Hanwha Defense USA has signed a $269 million (357.5 billion won) contract with TOTE Services to build a landing ship medium (LSM). TOTE Services is a vessel construction manager entrusted by the U.S. Navy with overseeing shipbuilding contracts and managing vessel construction. The construction of the LSM is expected to begin in the fourth quarter of next year, and the contract also includes options for three additional vessels. The LSM is an expeditionary landing vessel designed to support the U.S. Navy's operations in contested coastal areas, including the Indo-Pacific region. It is tasked with transporting and deploying Marine Corps personnel, equipment and supplies to coastal areas. The U.S. Navy aims to secure 35 LSMs. The vessel measures 100 meters in

1d agoBy Nam Hyun-woo
Hanwha bags 1st US Navy shipbuilding order
Companies

SK Group reshuffles energy leadership

SK Group conducted its annual executive reshuffle Friday, retaining the CEOs of major affiliates, including record-setting SK hynix, while reshuffling management at its energy-related units. Having replaced numerous affiliate CEOs last year, the group focused this time on maintaining leadership stability while promoting executives with specialized expertise to enhance business competitiveness. SK hynix CEO Kwak Noh-jung, who has led the company since March 2022, will retain his post. SK Group's holding company, SK Inc., also retained CEO Jang Yong-ho. However, Jang will step down as CEO of SK Innovation, a position he had held concurrently, to focus on leading the holding company. SK Inc. promoted Kim Sun-hyuk, head of strategy at SKC, to president overseeing portfolio management as part of efforts to accelerate the group's portfolio restructuring. In the energy and chemicals sector, the group appointed executives with expertise in managing external risks and developing new businesses to key leadership positions. SK Innovation named Cheong Seung-il, president in charge of future growth at

Oct 30, 2026By Nam Hyun-woo
SK Group reshuffles energy leadership
Companies

KITA supports Korean consumer goods firms' foray into UAE, Morocco

The Korea International Trade Association (KITA) said Thursday it dispatched a delegation of Korean consumer goods companies to the United Arab Emirates and Morocco from Monday to Thursday to support their expansion into the Middle East and North Africa market through meetings with local government agencies and business networking events. The delegation was led by KITA Executive Vice President Lee In-ho and comprised eight companies specializing in medical devices, cosmetics, hair care products and food products. The UAE is widely considered the business hub in the Middle East, where demand for Korean consumer goods is growing rapidly, driven by strong purchasing power and the rising popularity of Korean culture. Korea's K-beauty exports to the UAE surged more than ninefold from $31 million in 2020 to $287 million last year. The Korea-UAE Comprehensive Economic Partnership Agreement, which took effect in May, has also laid the groundwork for expanding trade and economic cooperation between the two countries. Morocco is a strategic market connecting Europe, Africa and the Middle East. It

Oct 29, 2026By Nam Hyun-woo
KITA supports Korean consumer goods firms' foray into UAE, Morocco
Companies

Samsung Electronics' Q3 dividend jumps 12-fold, investors remain disappointed

Samsung Electronics will pay out 30 trillion won ($22.5 billion) in dividends for the third quarter, increasing its dividend per share more than 12-fold in a move to address the mismatch between its sluggish share price and record-breaking earnings performance. The company reported an operating profit of 107.44 trillion won and revenue of 195.25 trillion won for the July-September period, up 783.1 percent and 126.9 percent year-on-year, respectively, on Thursday. The chipmaking Device Solutions Division accounted for most of the profit, logging 147.1 trillion won in sales and 106.5 trillion won in operating profit. However, investors reacted with disappointment, as the company had already signaled plans to increase its dividends and delayed the announcement of additional shareholder return measures until next year. Samsung Electronics shares closed at 232,000 won on Thursday, down 4.13 percent. At a board meeting, Samsung Electronics approved a quarterly dividend of 4,601 won per share for both common and preferred shares, more than 12 times its quarterly payout of around 370 won per sh

Oct 29, 2026By Nam Hyun-woo
Samsung Electronics' Q3 dividend jumps 12-fold, investors remain disappointed
Companies

Korea fines Google, Apple combined $47.6 mil. over in-app payment practices

The Korean government on Wednesday slapped Google and Apple with a combined 63.7 billion won ($47.6 million) in fines for practices including forcing app developers to use their in-app payment systems, marking the first enforcement of the relevant provisions since Korea amended its law in 2021 to prohibit such practices. During a plenary session, the Korea Media and Communications Commission (KMCC) imposed fines of 42.9 billion won on Google and 20.81 billion won on Apple, along with corrective orders. The commission said the U.S. tech giants violated the Telecommunications Business Act, which prohibits app market operators from forcing developers to use specific payment methods. Google and Apple allowed only their own in-app payment systems and third-party payment options, but imposed a 26 percent commission and unreasonable conditions on third-party payments, effectively forcing developers to use their own systems, according to the commission. The commission also said the two companies unfairly delayed app reviews by failing to provide specific reasons for delays or clear responses to

Oct 28, 2026By Nam Hyun-woo
Korea fines Google, Apple combined $47.6 mil. over in-app payment practices
Companies

EMAT seeks to reduce reliance on Chinese rare earth magnets with Pohang facility

Evolution Metals & Technologies (EMAT), a Nasdaq-listed rare earth magnet producer, is making a big bet on Pohang, North Gyeongsang Province, by building a facility capable of producing 10,000 tons of sintered rare earth magnets annually for export to the U.S. and to other global customers seeking to reduce their reliance on China's dominant rare earth supply chain. The company plans to invest approximately 300 billion won ($224 million) in Pohang, including 223.8 billion won earmarked for building initial production capacity on a 118,000-square-meter site at the Blue Valley Industrial Complex in the city by 2027. EMAT and the Pohang city government signed a memorandum of understanding (MOU) on the investment project on Tuesday, with the city pledging administrative support for EMAT's plans. During an interview with The Korea Times, EMAT CEO Frank Moon stressed the need to distinguish between upstream and downstream operations. Citing China's dominance in the supply chain, he said geopolitical issues weigh heavily on the industry, and customers’ growing demand for alternatives to Chi

Oct 28, 2026By Nam Hyun-woo
EMAT seeks to reduce reliance on Chinese rare earth magnets with Pohang facility
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