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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.

Samsung owner family marks 5th anniversary of late chairman’s death

Samsung Electronics Executive Chairman Lee Jae-yong and other owner family members of Samsung Group commemorated the fifth anniversary of late Chairman Lee Kun-hee’s death on Friday. According to Samsung Group, Chairman Lee, Lee’s mother and Leeum Museum of Art Honorary Director Hong Ra-hee, Hotel Shilla President Lee Boo-jin, Samsung C&T President Lee Seo-hyun and other members of the Lee family attended the memorial ceremony in Suwon, Gyeonggi Province. Boo-jin and Seo-hyun are younger sisters of the Samsung chairman. Along with the family members, about 150 current and former executives, including Samsung Electronics Vice Chairman Jun Young-hyun, Samsung C&T CEO Oh Se-chul and Samsung Life Insurance CEO Hong Won-hak, also visited the late chairman’s grave. After the memorial ceremony, Chairman Lee and the heads of Samsung affiliates held a luncheon in Yongin, Gyeonggi Province, to pay tribute to former Chairman Lee. Lee died on Oct. 25, 2020, after spending more than six years in medical care due to a heart attack in 2014. He became the second chairman of Samsung Group in 1987 a

Oct 24, 2025By Nam Hyun-woo
Samsung owner family marks 5th anniversary of late chairman’s death

Hyundai Rotem signs MOU with US firm for AI-based defense technology development

Hyundai Rotem, Korea's sole tank manufacturer, said Friday it has signed a memorandum of understanding (MOU) with U.S. artificial intelligence (AI) solutions provider Shield AI to develop AI-based defense technologies. Under the MOU signed Thursday during the 2025 Seoul International Aerospace & Defense Exhibition (ADEX) in Goyang, just northwest of Seoul, the two companies will jointly develop AI-based multipurpose drone operation technologies for defense applications, the company said in a press release. Hyundai Rotem will utilize Shield AI's Hivemind Enterprise, an AI-based autonomous combat software platform, for research and development to progressively enhance unmanned system autonomy and combat mission capabilities, it said. The company plans to diversify its global technology collaboration network through "open innovation," adopting various defense AI and cutting-edge technologies to flexibly respond to rapid technological advances and market changes. As an initial step, Hyundai Rotem aims to develop technologies that integrate autonomous drones into its next-generation ground we

Oct 24, 2025By Yonhap
Hyundai Rotem signs MOU with US firm for AI-based defense technology development

POSCO Group chairman wins Van Fleet Award in New York

POSCO Group Chairman Chang In-hwa received the 2025 Van Fleet Award at The Korea Society’s annual dinner held at The Plaza Hotel in New York Thursday, the steelmaker said Friday. The Van Fleet Award, presented by The Korea Society, honors individuals or organizations that have made significant contributions to promoting understanding, cooperation and friendship between Korea and the United States. The award was established in 1992 to commemorate U.S. Gen. James A. Van Fleet, who played a key role in modernizing Korea’s military during the Korean War. According to The Korea Society, Chang was recognized for his leadership in strengthening POSCO Group’s strategic investments in the U.S. and advancing economic cooperation and ties between the two countries. The Korea Society chairperson Kathleen Stephens, a former U.S. ambassador to Korea, said Chang was selected “for his contributions to rebuilding the U.S. industrial ecosystem and supporting the establishment of a sustainable supply chain, which have strengthened the bond between the two nations.” POSCO Group has expanded its U.

Oct 24, 2025By Jhoo Dong-chan
POSCO Group chairman wins Van Fleet Award in New York

Samsung Heavy wins $237 mil. order for oil tankers from Liberia

Samsung Heavy Industries, a major Korean shipbuilder, said Friday it has received a 341.1 billion-won ($237 million) order to build three oil tankers for a Liberian shipper. The three vessels will be constructed at an undisclosed shipyard in Vietnam for delivery by March 2029, as part of the company's strategy to diversify its production bases, Samsung Heavy said in a press release. "Samsung Heavy, which operates a full-scale shipyard in Korea and a vessel block plant in China, is expanding oil tanker production through partnerships with domestic and overseas shipbuilders," a company spokesperson said. The company plans to build value-added ships, such as liquefied natural gas (LNG) carriers, container ships and floating LNG (FLNG) facilities, at its main shipyard in Geoje, South Gyeongsang Province, while developing the site into a hub for technology development, it said. Samsung Heavy will handle the planning and procurement of major equipment for the oil tankers, while construction will take place at partner shipyards in Korea, China and Southeast Asia. The company has clinched $5.2 bi

Oct 24, 2025By Yonhap
Samsung Heavy wins $237 mil. order for oil tankers from Liberia

Samsung Electronics, SoftBank to collaborate for next-gen network tech

Samsung Electronics said Friday it has signed a memorandum of understanding (MOU) with SoftBank to jointly research and develop next-generation communications technologies, including 6G and artificial intelligence-based radio access network (AI-RAN) innovations. Under the agreement, the two companies will collaborate in selected areas to drive future innovation after categorizing next-generation technologies into four candidate fields: 6G, AI for RAN, AI and RAN, and large telecom model (LTM), Samsung Electronics said. They plan to identify new use cases, jointly develop core technologies and verify their effectiveness by leveraging their technological expertise and network deployment capabilities. Discussions on 6G standardization and new frequency bands, such as the 7-gigahertz (GHz) spectrum, have recently intensified, with AI-RAN technologies expected to play a key role in optimizing wireless networks, according to the company. Generative AI is also emerging as a promising area of research in the communications network industry. "Through this collaboration with SoftBank, we aim to def

Oct 24, 2025By Yonhap
Samsung Electronics, SoftBank to collaborate for next-gen network tech

Startup from Korea Water Cluster wins awards at Taiwan Innotech Expo

Architeck, a tenant company at the Korea Water Cluster, won three awards from the National Research Council of Thailand during the 2025 Taiwan Innotech Expo held Oct. 16-18 at the Taipei World Trade Center Exhibition Hall 1. Located in Daegu, the Korea Water Cluster is the country’s national industry cluster operated by the Ministry of Climate, Energy and Environment. Organized by the Taiwan Intellectual Property Office and the Taiwan External Trade Development Council, the three-day expo is one of Asia’s largest invention and technology exhibitions. This year’s event featured 544 inventions from 19 countries, drawing strong international competition. Architeck, a startup incubated at the cluster’s business support center, has benefited from various programs such as prototype production and exhibition participation support. The company’s participation in this year’s expo was part of such initiatives, providing an opportunity to showcase its technological capabilities on the global stage, the Korea Environment Corp. said in a press release. The company won silver, bronze meda

Oct 24, 2025By Jhoo Dong-chan
Startup from Korea Water Cluster wins awards at Taiwan Innotech Expo

Hanjin Group celebrates 80th anniversary, unveils new corporate identity

Hanjin Group has pledged to evolve into a complete mobility firm covering aerospace, defense solutions, e-commerce and logistics, as part of its new long-term corporate vision, the company said Tuesday celebrating its 80th anniversary. The group operates diverse affiliates in industries such as aviation, logistics and hotels. Under the latest 2045 vision, the company also promised to create more value by converging the business areas and generating synergy. “Hanjin Group takes great pride in having grown alongside Korea’s progress,” Hanjin Group Chairman Cho Won-tae said during the anniversary event. “We will continue to play our part in expanding the nation’s presence beyond the Korean Peninsula. Building on the shared heritage of our affiliates, we aim to strengthen our position as a world-leading integrated logistics company, one that continues to be trusted and loved for the next 100 years and beyond.” Hanjin Group achieved 31 trillion won ($21.5 billion) in sales and an operating profit of 2.5 trillion won, powered by solid earnings performance from its core aviation aff

Oct 23, 2025By Lee Min-hyung
Hanjin Group celebrates 80th anniversary, unveils new corporate identity

KITA holds trade roundtable with Tennessee governor to deepen trade, investment ties

The Korea International Trade Association (KITA) held a trade roundtable with Tennessee Gov. Bill Lee in Seoul Thursday, to discuss ways to expand trade and investment cooperation. Joining the governor were Stuart McWhorter, deputy governor and commissioner of the Tennessee Department of Economic and Community Development, and Allen Borden, deputy commissioner. On the Korean side, participants included KITA Chairman Yoon Jin-sik, Meta Biomed Chairman Oh Suk-song, Hyundai Motor Group Executive Vice President Kim Dong-wook and YG-1 Chairman Song Ho-keun. Representatives from Korean companies already operating in or considering expansion into Tennessee also attended to exchange views directly with state officials on future industrial cooperation, workforce development and local operational support. Tennessee is recognized as one of the leading manufacturing hubs in the United States, home to major Korean investors such as LG Electronics, Hyosung Heavy Industries and Hankook Tire. “South Korea continues to be a key economic partner for the State of Tennessee, particularly in advanced manuf

Oct 23, 2025By Lee Gyu-lee
KITA holds trade roundtable with Tennessee governor to deepen trade, investment ties

Shareholders approve HD Hyundai merger, effective Dec. 1

HD Hyundai Heavy Industries and HD Hyundai Mipo, both subsidiaries of HD Korea Shipbuilding & Offshore Engineering (HD KSOE), have received board approval for a merger to strengthen their presence in the global maritime defense industry. Their integration as HD Hyundai Heavy Industries will take effect on Dec. 1. HD Hyundai said Thursday that a shareholders’ meeting held earlier in the day approved the merger by a majority vote. The meeting followed the two companies’ announcement in August of their plan to merge, aiming to strengthen defense capabilities, develop new technologies and expand their presence in global markets. Last month, the country’s top antitrust regulator, the Fair Trade Commission, approved the merger, saying that it preserves HD Hyundai’s managerial structure and poses no risk to fair market competition. HD Hyundai said the merger will “maximize synergy by expanding HD Hyundai Heavy Industries in both scale and capability.” The group described the move as a strategic effort to assert leadership in the fiercely competitive global defense industry, where co

Oct 23, 2025By Ko Dong-hwan
Shareholders approve HD Hyundai merger, effective Dec. 1

POSCO E&C to unveil premium interior collection The Atelier Edition

POSCO E&C will officially unveil its new high-end interior collection, The Atelier Edition, developed in collaboration with world-renowned interior designer Teo Yang, with a launch event on Nov. 7 in southern Seoul. The new line combines the refined aesthetic of the construction firm’s luxury residential brand, Hauterre, with Yang’s unique design philosophy, presenting a living space where artistry and technology come together in perfect harmony. “The Atelier Edition is a new form of high-end living that integrates art, technology, tradition and modernity,” a company official said. “We’ll continue to expand our Hauterre brand by introducing lifestyle trends that reflect our clients’ refined sensibility and aspirations.” The Atelier Edition goes beyond simply offering premium materials, delivering a fully curated residential experience. From furniture and lighting to home styling, Yang personally envisioned every element for a complete living space that allows residents to own a work of art. Yang is renowned for bringing a contemporary touch to traditional Korean aesthetic

Oct 23, 2025By Lee Gyu-lee
POSCO E&C to unveil premium interior collection The Atelier Edition
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