Business - The Korea Times

Ex-LG CNS CEO to lead KT

Kim Young-shub, CEO nominee of KT / YonhapBy Baek Byung-yeulFormer LG CNS CEO Kim Young-shub has been nominated for CEO of KT after months of leadership vacancy, the mobile carrier said Friday.KT said its CEO nomination committee conducted in-depth interviews with three candidates and chose one finalist. Its board of directors confirmed Kim as CEO nominee and will recommend him as its leader at its shareholders' meeting, scheduled to be held at the end of this month.KT has been operating under an emergency management system since the beginning of this year, when former CEO Ku Hyeon-mo and its group transformation division head Yun Kyung-lim were nominated for the position, but both nominees resigned in succession after failing to overcome “political pressure.”The board has been in the process of selecting a new CEO since July, and the CEO nomination committee had narrowed down the final three candidates to former KT President Park Yoon-young and Cha Sang-kyun, founding dean of Graduate School of Data Science at Seoul National University, in addition to Kim.Kim had been CE

Aug 4, 2023By Baek Byung-yeul

More powerful, durable fuel cells pave way for future drones, urban aerial vehicles: KIST

Scientists said the new fuel cells are suitable for applications in drones and urban air mobility vehicles. GettyimagesbankBy Holly ChikResearchers at the Korea Institute of Science and Technology (KIST) have developed a new way to make fuel cells that can generate 40 percent more power than conventional cells of the same size, making them ideal for drones and urban aerial vehicles, they said Thursday.Fuel cells are a clean source of electricity. They generate electricity through an electrochemical reaction of hydrogen with oxygen, creating heat and water as by-products. But they are not yet a mainstream energy source because of their high cost and limited durability, which is reduced by water generated inside them during long-term operation.To improve a fuel cell's lifespan, the researchers said they have developed a new process to arrange the components for fuel cell operation in a 3D way, as opposed to the commonly used 2D flat structure. They found that cracks due to stretching in the electrode layer act as channels to effectively remove excess water that could degrade performanc

Aug 4, 2023By Holly Chik

More powerful, durable fuel cells pave way for future drones, urban aerial vehicles: KIST

Naver vows to boost growth by offering AI services by late August

Choi Soo-yeon, CEO of Naver, speaks during a press conference at the company's headquarters in Seongnam, Gyeonggi Province, April 13, 2022. Courtesy of NaverBy Baek Byung-yeulNaver is set to unveil its hyperscale AI platform HyperCLOVA X and generative AI service CLOVA X, Aug. 24, and apply these emerging technologies to its major services to enhance user experiences in search, shopping and online payments, the company's CEO said Friday.“CLOVA X is an interactive chat platform that anyone can easily use and it has the scalability to easily connect with Naver's services, so various attempts will be possible,” Choi Soo-yeon told investors during a conference call on second-quarter earnings.CLOVA X is expected to become a competitor to OpenAI's ChatGPT. Choi said that the main goals of Naver's AI services are to provide world-class AI technology, boost business and creators' productivity, provide customized AI services and offer new experiences that are fully integrated with its core services."One of the areas where we expect generative AI to contribute the most is in the cr

Aug 4, 2023By Baek Byung-yeul

Naver vows to boost growth by offering AI services by late August

New superconductor developed by Korean scientists draws global attention

The photo shows a part of LK-99, a room-temperature superconductor released by researchers led by Lee Suk-bae, CEO of Quantum Energy Research Centre, and Auh Ho-keun, honorary professor of Hanyang University, floats in the air above a round magnet. Courtesy of Quantum Energy Research Centre By Baek Byung-yeulA superconductor, which has no electrical resistance at extremely low temperatures or under high pressure, has emerged as a red-hot issue across the globe after Korean scientists recently claimed they developed one that can be used at room temperature, according to industry experts, Thursday. While this would be a dream technology, if proven true, it is expected to bring revolutionary changes, they said. But they added that it is still too early to call it a success, because the discovery needs to be verified more accurately.On July 22, researchers led by Lee Suk-bae, CEO of Quantum Energy Research Centre, and Auh Ho-keun, honorary professor of Hanyang Universit

Aug 3, 2023By Baek Byung-yeul

New superconductor developed by Korean scientists draws global attention

Retail investors flock to superconductor stocks

Kakao speeds up launch of hyperscale AI

The interior of Kakao's Pangyo Agit building in Seongnam, Gyeonggi Province / Korea Times photo by Seo Jae-hoonIT firm sees 34% drop in Q2 operating profitBy Park Jae-hyukKakao reiterated Thursday that it will unveil an upgraded version of its hyperscale artificial intelligence (AI) model by the end of this year without further delay. Hyperscale AI, which is best known due to OpenAI's ChatGPT, refers to AI that thinks, learns and judges by learning large amounts of data on its own.However, amid worsening profitability, Kakao's AI roadmap is also expected to increase its operating costs throughout this year.“We will not postpone the launch of KoGPT 2.0,” Kakao CEO Hong Eun-taek said during a conference call on second-quarter earnings. “Unless there is an uncontrollable situation, we will release it after October.”KoGPT 2.0 is a large language model (LLM) which is being developed by Kakao Brain, a Kakao subsidiary specializing in AI technologies. Kakao had initially planned to release the upgraded AI model specializing in the Korean language during the first hal

Aug 3, 2023By Park Jae-hyuk

KT forms security alliance, launches email blocking service

Seen is an image of KT's Secure email protection service. KT said Wednesday that it formed an alliance with local security solution providers Jiransecurity, Network & Security, AhnLab and SecuLetter to counter email attacks. Courtesy of KTBy Baek Byung-yeulKT formed an alliance with domestic security solution companies and launched KT Secure, an advanced email blocking service based on advanced persistent threat (APT) analysis technology, using AI to offer an effective defense against increasingly sophisticated email hacking attempts, the company said Wednesday.KT said it formed the alliance with Jiransecurity, Network & Security, AhnLab and SecuLetter, which specialize in technologies for spam blocking and APT-related security.“The Secure email blocking service consists of a spam security service that blocks malicious emails and advertisements, a sandbox analysis that detects APT threats and an AI analysis platform that detects threats using AI,” the company said.The spam security service is developed based on technologies of Jiransecurity and Network & Secur

Aug 2, 2023By Baek Byung-yeul

KT forms security alliance, launches email blocking service

Korean IT firms vie to take lead in hyperscale AI for survival

LG, KT, Naver, Kakao, startups scramble for AI leadershipBy Baek Byung-yeulLG, KT, Naver, Kakao and other Korean tech companies have unveiled, or are set to introduce, their own hyperscale AI platforms in a bid to survive in the AI era, which will revolutionize the industry just like the internet and smartphones did, according to industry officials and experts, Wednesday. Hyperscale AI, which is best known through U.S. AI company OpenAI's ChatGPT, refers to AI that thinks, learns and judges by learning large amounts of data on its own.The companies are seeking to survive on their own without relying on the platforms of global Big Tech firms. Their survival is dependent on taking on new opportunities, the experts said, adding that the companies' own platforms will allow them to target new business opportunities based on Korean and other languages.Those firms are striving to develop platforms forecasting AI's large language model (LLM) services to bring new business opportunities in both business-to-consumer (B2C) and business-to-business (B2B) areas, in fields such as finance, law, he

Aug 2, 2023By Baek Byung-yeul

Korean IT firms vie to take lead in hyperscale AI for survival

K-Ricebelt Project to address food crisis in Africa

By Chung Hwang-keunThe K-Ricebelt Ministerial Meeting was successfully held in Seoul on July 10. Ministers from eight African countries that cross the central part of the continent in Sub-Saharan Africa and representatives of international organizations, visited Korea to celebrate the official launch of the K-rice belt project. In addition to the eight countries, many African ambassadors in Korea including the Tanzanian ambassador showed their keen interest in the event. This occasion was two months after the G7 Summit that was held in Hiroshima where President Yoon Suk Yeol committed to strengthening food security in Africa through the K-Ricebelt Project.Minister of Agriculture, Food and Rural Affairs Chung Hwang-keunThe K-Ricebelt is an official development assistance (ODA) project that transfers Korea's experience and expertise related to the whole value chain of rice from seeds to production infrastructure and the distribution system, teaching partner countries how to fish, and not simply give fish, as the metaphor goes. Although rice is the primary staple food in the eight parti

Aug 2, 2023

K-Ricebelt Project to address food crisis in Africa

Gov't to utilize drones to monitor real-time effects of heavy rainfall

Seen is Electronics and Telecommunications Research Institute's (ETRI) Data Network AI+ drone monitoring system that can monitor rivers and streams in real time. Captured from ETRI's webpageBy Baek Byung-yeulKorea is seeking to utilize drones when heavy rain occurs to monitor rivers and streams safely and in real time for possible overflow and any damage to flooded areas, the ICT ministry said Tuesday. The ministry said First Vice Minister Cho Seong-kyung visited Electronics and Telecommunications Research Institute's (ETRI) Data Network AI (DNA) + drone testbed facility in Daejeon to inspect technological developments that allow drones to monitor flooded areas.Since 2020, the institute has been developing drone service platform technologies such as 4K-resolution drone data, 5G data communication for drones and real-time AI analysis. ETRI is also verifying technology for water resource monitoring as one of the applied service areas.The ministry said utilizing the technology is expected to be used for aiding evacuation and rescue operations during heavy rainfall.“This technology

Aug 1, 2023By Baek Byung-yeul

Gov't to utilize drones to monitor real-time effects of heavy rainfall

HYBE raises eyebrows for playing both sides with Samsung, Apple

NewJeans members take photos with Apple's iPhone 14 Pro smartphone, while performing their latest song “ETA” on SBS show “Inkigayo,” Sunday. Screenshot from YouTubeK-pop idols embroiled in controversy promoting smartphone By Park Jae-hyukIntensifying competition between Samsung and Apple to gain the upper hand in the global smartphone market has developed into an unexpected controversy in the Korean entertainment industry, according to market watchers Tuesday. And at the center of the controversy is K-pop management titan, HYBE.K-pop juggernaut BTS promotes Samsung Electronics' Galaxy smartphone, while NewJeans members serve as spokesmodels for Apple's iPhone. BTS belongs to Big Hit Music, a subsidiary of HYBE, and NewJeans belongs to another HYBE subsidiary, ADOR.On July 26, BTS's Suga directed the attention of his global fans to Samsung's Galaxy Unpacked event in Seoul, as the boyband member attended the unveiling show for the Korean firm's latest foldable smartphones.Known as a big fan of Samsung's smartphones for his remarks, “No iPhone, Only Galaxy,

Aug 1, 2023By Park Jae-hyuk

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