my timesThe Korea Times
BusinessCompanies

Companies

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

LG Energy Solution to supply batteries for Google's largest solar-storage project

LG Energy Solution will supply battery energy storage systems (BESS) for a large-scale renewable energy infrastructure project to be developed by Google and Cypress Creek Energy (CCE), a leading U.S. independent power producer, the companies said Tuesday (local time). The project, dubbed the Steel River Energy Center, will integrate solar photovoltaic generation with BESS powered by batteries supplied by LG Energy Solution. The initiative is designed to address rapidly growing electricity demand driven by expansion of data centers and artificial intelligence workloads. The project will initially deploy approximately 2 gigawatt-hour (GWh) of battery capacity, with operations targeted for 2029 and a planned expansion to 2.9 GWh. Google will purchase the facility's entire output during its initial phase, underscoring its commitment to clean energy and grid reliability. The company said the Steel River Energy Center is the largest solar-plus-storage project in its global energy portfolio. The deal underscores LG Energy Solution’s rising prominence in North America’s energy storage market

Jul 15, 2026By Ko Dong-hwan
LG Energy Solution to supply batteries for Google's largest solar-storage project

Musinsa doubles funding for orthopedic footwear initiative

A well-fitting pair of shoes can transform everyday life, and Musinsa is expanding a program aimed at doing just that for people with mobility disabilities by doubling the number of custom orthopedic shoes it will provide this year. The fashion platform said Wednesday it will support 20 recipients through its MUVE project, twice as many as last year, in partnership with the Seongdong District Office and the Miral Welfare Foundation. The initiative provides custom orthopedic shoes for people who cannot wear commercially available footwear because of congenital or acquired foot deformities, impaired foot function or differences in leg length. Each pair is individually designed using detailed measurements and handcrafted production to match the recipient's physical condition. Musinsa said it has fully funded the program each year under a public-private partnership launched in 2024 to help people who cannot afford the high cost of custom orthopedic footwear. The company is also working with Haram Workshop, a specialist orthopedic shoe manufacturer in Seongsu-dong's handmade shoe district, as

Jul 15, 2026By Lee Kyung-min
Musinsa doubles funding for orthopedic footwear initiative

Museum visitors step into Seoul's past through AR glasses

History is no longer confined to display cases at the Seoul Museum of History, where visitors can now walk through centuries of the capital's past wearing augmented reality (AR) glasses in an immersive exhibition powered by artificial intelligence (AI) and extended reality (XR) technology. HyperCloud said Wednesday it launched its new XR exhibition in collaboration with Qualcomm Incorporated and the Seoul Museum of History as part of Qualcomm's Qualcomm For Good program. The exhibition uses P&C Solution's METALENSE 2 AR glasses, powered by the Snapdragon XR2 Gen 1 Platform, while HyperCloud developed the AR content for the museum. Visitors move through the museum wearing AR glasses as location-based content launches automatically without requiring manual controls, creating a hands-free experience that replaces traditional mobile guides and audio commentary. The exhibition, titled "Time Travel in Seoul," takes visitors on a journey from the Joseon era through the Japanese colonial period and into modern Seoul by overlaying historical scenes onto the museum's exhibition spaces. Featured exp

Jul 15, 2026By Lee Kyung-min
Museum visitors step into Seoul's past through AR glasses

AI accelerates search for cancer therapeutics in Korea

Artificial intelligence (AI) has helped SK Telecom and SK Biopharmaceuticals identify promising early compounds for a targeted cancer therapy in just five months, a breakthrough the companies said could significantly accelerate the earliest stage of drug development. SK Telecom said Wednesday that the joint research successfully identified two early hit compounds capable of binding to ROR1, a protein found on the surface of cancer cells that has emerged as a promising target for treating a range of blood cancers and solid tumors. The companies said AI generated and screened a large pool of binder candidates before laboratory testing confirmed that two showed potential as early-stage hit compounds. Binders are molecules designed to attach to specific biological targets, such as proteins found on cancer cells. Finding new binders typically requires evaluating multiple factors, including how strongly they bind to a target and whether their molecular structures remain stable. SK Biopharmaceuticals developed the strategy for discovering new binders based on its drug development expertise, whil

Jul 15, 2026By Lee Kyung-min
AI accelerates search for cancer therapeutics in Korea

Gaon Cable to supply power distribution cables to SK hynix's Yongin chip cluster

Gaon Cable, a cable maker affiliated with LS Cable & System, said Wednesday it has supplied several hundred million won worth of power distribution cables to the SK hynix semiconductor cluster currently under construction in Yongin, Gyeonggi Province, expanding its footprint in the chipmaking industry's power infrastructure supply chain. The company said the deal builds on its existing supply relationship with SK hynix's Icheon and Cheongju plants, broadening its business in semiconductor power infrastructure. Gaon Cable said it plans to use this base to pursue demand tied to new fabrication plant construction as well as expansions and replacements at existing production lines in Korea. The company said it is also discussing several hundred million won worth of additional supply contracts for the second half of the year, and is pursuing a role in a power infrastructure project for a semiconductor plant being built by a U.S. company. Distribution cables deliver electricity to production lines and process equipment. Because chip plants run around the clock and draw large amounts of power,

Jul 15, 2026By Jhoo Dong-chan
Gaon Cable to supply power distribution cables to SK hynix's Yongin chip cluster

Beauty platform Gangnam Unni rebrands to spearhead global expansion

Healing Paper, the operator of Korea's leading cosmetic procedure platform Gangnam Unni, said Wednesday it has overhauled its brand identity, unveiling a new logo and mission as it positions itself as a "beauty navigator" for users worldwide. Gangnam Unni lets users compare prices and reviews for elective cosmetic and dermatology procedures — treatments not covered by Korea's national health insurance — and book hospital appointments. The company said the rebrand reflects a shift from simply providing pricing and review information to guiding users through the entire process, from finding a treatment to aftercare. Its new mission statement: helping anyone in the world feel confident in choices about looking like themselves. The app's redesign centers on three values — confidence, ease and relationship — meant to strengthen review verification, expand guidance content on the app's main screen and add features such as treatment-cycle tracking for returning users. Starting in July, the company is running an ad campaign built around the tagline "Confidence in my choice." The platform'

Jul 15, 2026By Jhoo Dong-chan
Beauty platform Gangnam Unni rebrands to spearhead global expansion

Kakao's turnaround hits roadblocks as AI, labor woes deepen

Kakao’s turnaround efforts are facing mounting challenges as weak artificial intelligence (AI) execution, slowing core businesses and escalating labor tensions cloud its growth outlook, even as it is expected to post another quarter of strong profits driven by restructuring and cost controls. Samsung Securities said on Monday that Kakao’s second-quarter operating profit is expected to rise 18 percent year-over-year to 231.1 billion won ($154.4 million), while revenue is forecast to increase 1.2 percent to 2.48 trillion won, driven by asset sales and restructuring. However, the brokerage cut its target price to 44,000 won from 60,000 won, citing concerns that the company's growth strategy had hit roadblocks. “Kakao’s introduction of AI agents, which it has positioned as a growth driver, is failing to deliver results, while its restructuring efforts are also losing momentum due to labor opposition," Samsung Securities analyst Oh Dong-hwan said in a report. He added that it was difficult to justify a valuation premium over peers under the current circumstances, citing prolonged lab

Jul 15, 2026By Lee Gyu-lee
Kakao's turnaround hits roadblocks as AI, labor woes deepen

Tesla's FSD subscription comes as wake-up call for Hyundai's software strategy

Tesla's pivot to a lower-barrier subscription model for its Full Self-Driving (FSD) software in Korea is serving as a sharp wake-up call for Hyundai Motor Group, exposing a widening gap between the two rivals in the race to profit from next-generation in-vehicle software. Starting Aug. 10, Tesla Korea will offer its supervised FSD package through a monthly subscription priced at 150,000 won ($100), replacing the previous one-time purchase option of 9.04 million won. The move underscores Tesla's long-term strategy of generating recurring software revenue beyond vehicle sales, while lowering the upfront cost for consumers. Tesla's latest move underscores the challenges faced by Hyundai Motor Group, which has also been positioning itself as a leading software-defined vehicle (SDV) developer. The Korean carmaker still faces skepticism from financial markets regarding the commercial viability of its digital subscription-based services. The Korean automaker recently highlighted the rollout of its next-generation Pleos artificial intelligence infotainment platform in its newly launched strategic

Jul 14, 2026By Lee Min-hyung
Tesla's FSD subscription comes as wake-up call for Hyundai's software strategy

KITA celebrates 80th anniversary

The Korea International Trade Association (KITA) celebrated its 80th founding anniversary on Tuesday, honoring its contributions to the country's trade and economic growth as a private organization. KITA held a 80th anniversary ceremony at the Coex exhibition center in southern Seoul, attended by more than 1,000 government officials, foreign envoys and business leaders, including Prime Minister Han Seong-sook and Minister for Trade Yeo Han-koo. "Having grown over the past 80 years with the trust and support of the government and the trade community, we will repay that trust with even greater responsibility and contributions," KITA Chairman Yoon Jin-sik said. "Based on the private sector's creativity and a strong sense of public responsibility, we will stand alongside Korean businesses in their global ambitions and serve as their most trusted partner as they expand into markets around the world." Founded in 1946 with 105 member companies, KITA has grown into one of Korea's leading business organizations, now representing more than 80,000 member firms. The ceremony also featured the unveili

Jul 14, 2026By Nam Hyun-woo
KITA celebrates 80th anniversary

Korean gov't, industry closely monitor Trump's Hormuz toll plan

The Korean government and maritime logistics industry are grappling with U.S. President Donald Trump’s proposal to impose a toll equal to 20 percent of the value of cargo for ships passing through the Strait of Hormuz, a strategic waterway at the center of tensions between the United States and Iran. They say they are discussing the issue with relevant domestic and international institutions and companies, to determine whether the plan will be actually carried out and, if so, when and how, and to assess the impact on the Korean shipping industry. Government officials were cautious of commenting, saying they are closely monitoring the situation. The foreign ministry said Tuesday that the government is closely monitoring the situation while maintaining communication with the U.S. "Including Trump’s remarks, the government will continue to monitor developments related to the strait and determine its position accordingly," ministry spokesperson Park Il said during a briefing. "The ministry needs additional information on the exact background behind Trump’s remarks and how the U.S. toll

Jul 14, 2026By Ko Dong-hwan
Korean gov't, industry closely monitor Trump's Hormuz toll plan
previous page
45678
next page

Most Read in Business