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SK hynix adopts next-generation ASML production equipment for DRAM

Korea's No. 2 chipmaker SK hynix said Wednesday it has adopted advanced production equipment at a domestic memory production line to accelerate the development of next-generation chips. The company said it has installed the industry's first High Numerical Aperture Extreme Ultraviolet (High NA EUV) lithography system at its M16 chip fabrication plant, located at its main production base in Icheon, south of Seoul. High NA EUV refers to an advanced lithography system that delivers better resolution by applying a larger numerical aperture, which measures an optical system's ability to collect light. The equipment, produced by the Netherlands-based ASML, offers a 40 percent improvement in numerical aperture, along with 1.7 times higher precision, according to the company. SK hynix said the system is expected to accelerate the development of its next-generation memory products. "We expect the addition of the critical infrastructure to bring our technological vision we have been pursuing into reality," said Cha Seon-yong, who heads the company's research and development. "We aim to enhance our le

Sep 3, 2025By Yonhap
SK hynix adopts next-generation ASML production equipment for DRAM

Kia launches EV5 compact electric SUV in S. Korea

Kia on Wednesday launched the EV5, the company's fifth dedicated electric vehicle (EV), in South Korea, with plans to export the model to Europe and Canada in the near future. The EV5 is a compact electric sport utility vehicle (SUV) built on Hyundai Motor Group's E-GMP platform. Kia said the South Korean model features design and safety specifications tailored to local consumer needs and regulations, differing from the version introduced earlier in China. The EV5 will be produced at Kia's Gwangju plant for both the domestic and export markets. The exterior adopts Kia's "Opposites United" design philosophy, combining the model's boxy body with curved elements. Inside, it offers a spacious passenger space and provides 965 liters of luggage space. The model is equipped with an 81.4 kilowatt-hour (kWh) nickel-cobalt-manganese (NCM) battery paired with a 160 kilowatt front-wheel-drive motor. The EV5 uses batteries supplied by China's CATL, rather than those from South Korean battery makers. Kia said the choice was aimed at ensuring a stable supply chain, adding that the decision factored in co

Sep 3, 2025By Yonhap
Kia launches EV5 compact electric SUV in S. Korea

Gov't unveils $9.74 bil. financial aid to cushion blow from US tariffs

The Korean government Wednesday came up with a support package for industries affected by U.S. tariffs, including 13.6 trillion won ($9.74 billion) for business financing and a record 270 trillion won for export credit insurance. According to the Ministry of Trade, Industry and Energy, the comprehensive emergency strategy was based on three principles: fully mobilize policy finance, coordinate efforts across all ministries and address corporate needs. In July, Seoul and Washington agreed to a 15 percent blanket tariff on Korean exports after rounds of negotiations. However, despite a reduction from the previously threatened 25 percent, the rate still presents a significant financial challenge. The package aims to cushion local exporters from the tariff. “Some 13 government ministries have joined forces to develop these countermeasures in response to the tariffs,” Industry Minister Kim Jung-kwan said. “We will move swiftly to ensure that businesses will feel the impact of today’s measures on the ground. And as the trade environment continues to shift, we will keep uncovering and d

Sep 3, 2025By Lee Gyu-lee
Gov't unveils $9.74 bil. financial aid to cushion blow from US tariffs

Ride-hailing rivalry intensifies as Kakao, Uber launch membership services

The mobility market is entering a fierce membership war as leading ride-hailing services Kakao Mobility and Uber both roll out paid subscription programs, aiming to secure loyal customers and build stable revenue. Kakao Mobility recently launched its subscription service, Kakao T Members, targeting frequent users with a curated package of benefits. Meanwhile, Uber Taxi is introducing Uber One to the Korean market, setting up to challenge Kakao’s long-standing dominance by offering attractive rewards while matching its competitor's pricing. Kakao Mobility membership, officially launched Aug. 27, comes in two options: Mobility Plus and My Car Plus. Mobility Plus, priced at 4,900 won ($3.52) per month, is targeted at taxi users. It offers 3 percent payback in points when using premium taxi services like Venti or Black, and 5 percent payback for bike- or pet-friendly ride services. It also includes coupons to use its Blue and Booster services, and up to 20,000 won worth of monthly coupons for selected rental cars, leisure activities and overseas ride-hailing services. The My Car Plus membe

Sep 3, 2025By Lee Gyu-lee
Ride-hailing rivalry intensifies as Kakao, Uber launch membership services

Samsung, Hyundai see increasing labor risk after SK lifts incentive cap

Samsung Electronics and Hyundai Motor are facing a major labor challenge, as their unionized workers are expected to urge management to lift incentive caps following SK hynix’s recent decision to abolish the upper limit on the company’s profit-sharing incentive system in an agreement with its labor union Monday. Earlier, the chipmaker offered a one-time incentive of up to 1,000 percent of employee base salary each year, but the new agreement removes the ceiling. SK hynix will also provide 10 percent of its total annual operating profit as incentives to employees and executives. This will enable each employee from the company to receive some 100 million won ($72,000) on average this year as an incentive, according to the firm’s annual earnings projection. The company reported an operating profit of 9.21 trillion won in the second quarter based on solid sales of its high-bandwidth memory (HBM) chips, up 68 percent from the previous year. In response, labor unions from other major Korean conglomerates are stepping up pressure on management, urging them to follow in the footsteps of S

Sep 3, 2025By Lee Min-hyung
Samsung, Hyundai see increasing labor risk after SK lifts incentive cap

ChatGPT users in Korea top 20 mil. in August: data

The number of ChatGPT users in Korea surpassed 20 million for the first time last month, data showed Tuesday. The monthly active users (MAUs) of ChatGPT, a generative artificial intelligence (AI) service developed by OpenAI, reached a monthly record of 20.31 million in August, sharply up from 4.07 million a year ago, according to the data compiled by industry tracker Wiseapp Retail. The figure represents about 40 percent of the country's 50.12 million smartphone users. By gender, the share was nearly even at 50.1 percent for men and 49.9 percent for women. Nearly 70 percent of users were in their 20s, 30s and 40s, according to the data.

Sep 2, 2025By Yonhap
ChatGPT users in Korea top 20 mil. in August: data

CJ CheilJedang bets on Japan with 1st local dumpling plant

CJ CheilJedang has begun operations at its first manufacturing plant in Japan, marking the start of capacity expansion in its second-largest global market after the United States, the Korean company said, Tuesday. The plant, located in Kisarazu City, Chiba Prefecture, is dedicated to producing dumplings for its signature brand, Bibigo. CJ CheilJedang, the food manufacturing arm of CJ Group, invested 100 billion won ($72 million) in the facility, which sits on a 42,000-square-meter site. The new facility adds to CJ CheilJedang’s manufacturing presence in Japan, where it acquired local dumpling maker Gyoza Keikaku in 2020. They have since operated factories in Osaka, Gunma, Akita and Fukuoka prefectures. CJ CheilJedang said the Japanese dumpling market is worth over 1.1 trillion won annually and more than half of the market is for half-moon shaped gyoza-style dumplings, Bibigo's specialty. The company said that growing demand in Japan is expected to further boost its sales. In the first half of this year, its dumpling sales rose 28 percent from a year earlier, while its overall sales in

Sep 2, 2025By Ko Dong-hwan
CJ CheilJedang bets on Japan with 1st local dumpling plant

Oceans ministry relocation to cost at least $85 mil.

The Lee Jae Myung administration has decided to spend at least 118.9 billion won ($85 million) between 2025 and 2026 to relocate the Ministry of Oceans and Fisheries to Busan. The oceans ministry announced Tuesday that 32.2 billion won from the total 7.3 trillion won allotted for its 2026 budget will cover the expenses for relocation, a process set to begin at the end of this year. The announcement follows the government’s decision last month to inject 86.7 billion won from the 2025 reserve fund to finance a new office building for the ministry, transfer cargo and assist employees with housing and commuting arrangements. Following Lee’s pledge to explore Arctic shipping routes, the ministry drew up plans to move to the southeastern port city from the administrative city of Sejong in the nation's interior. In July, two office buildings near Busanjin Station on Busan Metro Line 1 were selected for the ministry’s temporary use until new headquarters could be completed by the end of 2029. Throughout this process, there exists the possibility of further increases in relocation costs. The

Sep 2, 2025By Park Jae-hyuk
Oceans ministry relocation to cost at least $85 mil.

HD KSOE begins first vessel construction project in Philippines

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, launched its first vessel construction project in the Philippines on Tuesday, the company said. The company held a steel-cutting ceremony at HD Hyundai Subic Shipyard in Subic Bay to mark the start of a 115,000-ton petrochemical carrier project. The vessel is the first of a four-vessel order placed by an Asia-based shipping company in December. The event was attended by Philippine President Ferdinand Marcos Jr., Korean Ambassador to the Philippines Lee Sang-hwa and U.S. Ambassador to the Philippines MaryKay Carlson. HD KSOE signed a lease agreement with U.S. investment firm Cerberus Capital in May 2024 for part of the facility to launch the company's second overseas shipyard. The company expects its Philippine operation to help it regain competitiveness in the general merchant ship market, where Korean shipbuilders have been losing ground to Chinese rivals. HD KSOE also plans to strengthen ties with the Philippine government and utilize the ship

Sep 2, 2025By Yonhap
HD KSOE begins first vessel construction project in Philippines

SK, GS warn investors of pro-labor law's impact on petrochemical sector

Major conglomerates operating petrochemical plants have urged investors to brace for possible negative effects from the revised pro-labor act, widely known as the “yellow envelope law,” which will take effect next year. The warnings come as the struggling petrochemical industry pushes to reduce the nationwide output from naphtha cracking centers (NCCs) by up to 25 percent, or 3.7 million tons. Last month, the government asked petrochemical firms to submit self-rescue plans by the end of the year, before seeking regulatory relief and financial support. SK Inc., the holding company of SK Group, Korea’s second-largest conglomerate, mentioned the amendment of the Trade Union and Labor Relations Adjustment Act in its prospectus released Thursday, explaining its planned restructuring at SK Geo Centric, its second-tier subsidiary producing chemical materials. “Approved by the National Assembly on Aug. 24, the yellow envelope law may influence the petrochemical industry’s efforts to reorganize and streamline, as this law justifies worker protests against business decisions that affect

Sep 2, 2025By Park Jae-hyuk
SK, GS warn investors of pro-labor law's impact on petrochemical sector
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