Business - The Korea Times

Samsung begins 10th software developer training school for youth

Trainees and trainers of Samsung Electronics' Software Academy for Youth (SSAFY) pose for a photo during the entrance ceremony of this year's class at SSAFY's campus in Seoul, July 18. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics held an entrance ceremony for the 10th program of the Samsung Software Academy for Youth (SSAFY), a social contribution program aimed at fostering the next generation of experts in the Korean software industry, continuing efforts to expand the software market here, the company said Monday.The SSAFY is a program in which Samsung, in partnership with the Ministry of Employment and Labor, provides free software education and various employment support services to jobseekers under the age of 29.A logo for Samsung Electronics / Courtesy of Samsung ElectronicsA total of 1,150 students enrolled for the 10th edition of the program at five campuses nationwide in Seoul, Daejeon, Gwangju, Gumi and Busan. Vice Minister of Employment and Labor Lee Sung-hee and Samsung Electronics President Park Sung-hee joined 100 trainees for the entrance ceremon

Jul 24, 2023By Baek Byung-yeul

Samsung begins 10th software developer training school for youth

KT to invest $11.65 mil. in local AI startup Moreh

Song Jae-ho, vice president of KT's AI/DX Convergence Division, speaks during a press conference at a hotel in Seoul, June 21. The company said on Sunday that it will invest $11.65 million in local AI company Moreh. Courtesy of KTBy Baek Byung-yeulKT will invest 15 billion won ($11.65 million) in local artificial intelligence (AI) software company Moreh as part of its plan to establish a cooperation system integrating all stages of AI development from hardware to software, the company said Sunday.KT said that this is its second investment in Moreh following its initial investment in 2021. It will invest 10 billion won and its subsidiary KT Cloud will invest the remaining 5 billion won.“The cooperation between KT Group and Moreh will be a milestone in securing the country's AI competitiveness based on domestic technology, because the domestic AI infrastructure market is largely dependent on overseas solutions,” the company said.KT has been implementing what it calls its “AI full-stack” strategy that encompasses software and hardware based on domestic technology

Jul 23, 2023By Baek Byung-yeul

KT to invest $11.65 mil. in local AI startup Moreh

Korea makes strides in lunar mission to catch up in global space race

A scientist at the Korea Institute of Civil Engineering and Building Technology tests a rover in a dirty thermal vacuum chamber in this file photo. Courtesy of KICT By Holly ChikIn Korea, scientists are making blocks from moon soil simulant for space architecture and testing newly developed rovers and satellites in the world's largest chamber for recreating the harsh environment on Earth's only natural satellite.They ultimately hope to be able to build structures on the lunar surface, which will enable space construction and manned explorations.As a latecomer to the global space race that is aiming to land on the moon in the next decade, the country is working to equip itself with the right scientific capabilities for future missions. The projects at the Korea Institute of Civil Engineering and Building Technology (KICT) are an example of what the local research community is doing to advance space exploration.“On Earth, most of our construction uses concrete. But fr

Jul 21, 2023By Holly Chik

Korea makes strides in lunar mission to catch up in global space race

Korea designates 7 'specialized complexes' for strategic, advanced industries

Finance Minister Choo Kyung-ho, right, visits Samsung Electronics Co.'s chip plant in Pyeongtaek in Gyeonggi Province in this April 7, 2023 photo. Courtesy of Ministry of Economy and FinanceSouth Korea announced a decision Thursday to designate seven "specialized complexes" for the semiconductor, display and secondary battery industries in major cities across the country to offer a package of incentives for private investment in a bid to nurture the advanced sectors as a future growth engine.The country also decided to designate five additional specialized complexes dedicated to materials, parts and equipment for key industries, according to the Ministry of Trade, Industry and Energy.Under the plan, the government will make two specialized complexes for the chip industry ― one in Yongin and Pyeongtaek regions and the other in Gumi; four zones for secondary batteries in Cheongju, Pohang, Saemangeum and Ulsan; and the remainder in the Cheonan and Asan areas for the display sector.The venues are where private companies vowed to make a combined investment of 614 trillion won ($485.1 bill

Jul 20, 2023

Korea designates 7 'specialized complexes' for strategic, advanced industries

INTERVIEW Korea advised to keep balance in US-China AI rivalry

The OpenAI logo is seen on a smartphone in front of a computer screen displaying output from ChatGPT, March 21, in Boston. AP-YonhapThis is the last in a three-part series of interviews with global artificial intelligence (AI) technology experts regarding Korea's ambition to become a hub for AI innovation so that the country can reap AI's national security and economic benefits. _ ED.Country should engage with EU on AI regulation: experts By Kim Yoo-chulConcerns that China could overtake the United States in artificial intelligence (AI) loom over key policy talks and discussions of the rapidly emerging technology in Washington.China is indeed the U.S.'s chief competitor in terms of releasing top AI research papers, implementing the technology across industries and deploying its domestic surveillance apparatus. Specifically, when it comes to specifying ideas about building the most advanced AI models, China has been a fast follower behind U.S. laboratories.Regarding the essence of today's competition between the world's two largest economies over AI leadership, some political experts

Jul 20, 2023By Kim Yoo-chul

[INTERVIEW] Korea advised to keep balance in US-China AI rivalry

Tmap Mobility's eco-route service to minimize emissions

Tmap Mobility Chief Strategy Officer Lee Jae-hwan speaks during a press conference at SK Telecom's press room in Seoul, Monday. Korea Times photo by Park Jae-hyukBy Park Jae-hyukTmap Mobility, a leading mobility platform, will develop an eco-route planning service allowing electric vehicle (EV) drivers to choose routes that use less energy, the company said Monday.The announcement was made during a press conference to celebrate the number of Tmap users surpassing 20 million this month, 22 years after the mobile navigation app was launched as Nate Drive 1.0.“The eco-route planning service will enable a business model of providing solutions to carmakers that want to offer benefits to their customers,” Tmap Mobility Chief Strategy Officer Lee Jae-hwan said. “We are also considering trading carbon credits on the global market by reducing emissions through the service.”Based on data collected from Tmap users and detailed maps including gradients, the SK Telecom subsidiary expects its new service to help drivers minimize their carbon emissions. Once the service take

Jul 17, 2023By Park Jae-hyuk

Tmap Mobility's eco-route service to minimize emissions

ANALYSIS Is Samsung Electronics losing growth momentum?

The logo of Samsung Electronics is seen during a media tour at the company's headquarters in Suwon, Gyeonggi Province, June 13. Reuters-YonhapKorea's tech giant asked to be agile to accelerate growth By Kim Yoo-chulLeadership has required commitment and a willingness to move in directions that others have avoided. In history, great leaders have the ability to convince, encourage and persuade others to follow.Late Apple co-founder Steve Jobs, for example, had stared down the derision of market analysts and key industry peers when deciding to open Apple retail stores. Those stores went global and outpaced conventional retail stores in terms of retail sales rates. Subsequently, Microsoft, Samsung Electronics and Sony all followed Apple's lead with brand-centric tech retail stores.The example of does not necessarily reflect all key fundamental factors behind the measurement of business sustainability. However, this case is one example of why leaders and executives should stay agile. Therefore, companies can act much faster, more resiliently and increase speed and adaptability to keep up

Jul 17, 2023By Kim Yoo-chul

[ANALYSIS] Is Samsung Electronics losing growth momentum?

Samsung promotes Galaxy Flip unveiling at landmarks around world

A signboard promoting Samsung Electronics' July 26 Galaxy Unpacked event is seen at a street near Gangnam Station in southern Seoul, Sunday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics is raising expectations for its upcoming Galaxy Unpacked event on July 26 where the company is scheduled to introduce new foldable smartphones by placing large advertisements on landmarks in major cities around the world, the company said Sunday.As demand for foldable smartphones continues to grow globally, Samsung plans to make a significant impact with the unveiling event, which will be held for the first time in Seoul, solidifying its leadership in the foldable phone market.A signboard promoting Samsung Electronics' July 26 Galaxy Unpacked event is seen at a street in New York's Times Square in this provided by the company, Sunday. Courtesy of Samsung ElectronicsSamsung said it placed the “Join the flip side” digital signboard on popular spots of global cities such as Gangnam Station area in Seoul, Times Square in New York, Piccadilly Circus in London, CentralWor

Jul 16, 2023By Baek Byung-yeul

Samsung promotes Galaxy Flip unveiling at landmarks around world

Kakao Enterprise to initiate voluntary redundancy program

Kakao Enterprise CEO Lee Kyung-jin speaks during a press conference at Grand InterContinental Seoul Parnas in this May 16 file photo. Courtesy of Kakao Enterprise By Park Jae-hyukKakao Enterprise told its employees that it will carry out a voluntary redundancy program by the end of this month, according to industry officials, Friday.The announcement, which was made during Thursday's in-house conference, came two months after the money-losing business-to-business (B2B) units of Kakao decided in May, to reorganize the company so as to focus more on cloud-based businesses and improve profitability.Baek Sang-yeop, who led the company since its launch in 2020, later resigned, handing over his position to Lee Kyung-jin, head of the firm's cloud business division.“The applicants for the voluntary redundancy program will be able to get severance pay, compensation for changing jobs and additional bonuses that can be as high as their six-month base salaries, depending on leng

Jul 14, 2023By Park Jae-hyuk

Kakao Enterprise to initiate voluntary redundancy program

Scientists move closer to producing MicroLED displays faster and at lower cost

Scientists in Korea have employed a new technique known as fluidic self-assembly to speed up and reduce the cost of manufacturing MicroLED displays. Courtesy of Seoul National UniversityBy Holly ChikA team of scientists in Korea said they have developed an efficient method to manufacture MicroLED displays, driving toward cost-effective mass production of the next-generation display.The researchers from Seoul National University (SNU) and LG Electronics said their new technique is a “strong candidate as an industrial solution” to produce large MicroLED displays, which had been complex and expensive to manufacture.“Our results represent significant progress towards the ultimate goal of low-cost, high-throughput manufacture of full-color MicroLED displays by (the fluidic self-assembly technique),” they wrote in an article published in the peer-reviewed journal Nature on Thursday.In 2021, Korea lost its top position in the global display sector to China, which held a 42.5 percent market share last year. In May, the Korean industry ministry said Samsung Display, LG

Jul 13, 2023By Holly Chik

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