Business - The Korea Times

Korea, US to expand cooperation in space, quantum, bio

President Yoon Suk Yeol speaks while standing alongside U.S. Vice President Kamala Harris after touring NASA's Goddard Space Center in Greenbelt, Md., April 25 (local time). YonhapBy Baek Byung-yeulKorea and the United States are expanding cooperation in advanced science and technology sectors such as space, quantum technology and biotechnology in the wake of President Yoon Suk Yeol's state visit to Washington last month, according to the science ministry, Thursday.The Ministry of Science and ICT said that bilateral tech cooperation is expanding following the president's state visit to the U.S. and building a solid partnership with the U.S., a technological leader, is essential for Korea as countries are competing fiercely to secure technological leadership.“It is expected that Korea will be able to solidify its position as a global technological powerhouse by laying the foundation for extensive science and technology cooperation between Korea and the U.S.,” the science ministry said.The most active cooperation between the two is expected to be in the space sector. During

May 4, 2023By Baek Byung-yeul

Korea, US to expand cooperation in space, quantum, bio

Taiwan's Acer returns to Korea with new laptop, apology

Models promote Acer's new Swift Go 16 laptop during a press conference at the Ambassador Seoul - A Pullman Hotel, Wednesday. YonhapBy Park Jae-hyukAcer unveiled its new Swift Go 16 laptop during a press conference held in Seoul, Wednesday, to celebrate the recent re-establishment of the Taiwanese personal computer manufacturer's Korean subsidiary.With the 1.6-kilogram laptop equipped with a 16-inch OLED and upgraded dual cooling fans, the company is trying to win the hearts of Korean consumers. It also decided to offer Korean consumers a 25 percent discount for the new product.“Based on close cooperation with our Korean partner and our headquarters' experience, investments and resources as one of the world's top five PC brands, we will become one of the top three foreign PC brands in Korea within the next three years,” Wayne Nien, head of Acer's Korean subsidiary, said in Korean.In 2001, Acer sparked controversy for exiting the Korean market abruptly, five years after establishing its local subsidiary. Although it resumed sales of its products in 2009, its market share ha

May 3, 2023By Park Jae-hyuk

Taiwan's Acer returns to Korea with new laptop, apology

KT launches 2 service robots for restaurants

Seen is KT's service robot, manufactured by LG Electronics. KT said Tuesday that it added two new AI technology-based service robots that serve food for restaurants. Courtesy of KTBy Baek Byung-yeulKT launched two new service robots that are both based on artificial intelligence (AI) technology, targeting restaurants that are seeking to ease their operational burden by using robots, the company said Tuesday. The company said the two new robots are made by Bear Robotics and LG Electronics, respectively, and have significantly improved driving stability and marketing utilization compared to the existing models. With the two models, KT now has five AI-based robots.The two next-generation AI service robots are designed to carry food and drinks in a variety of indoor environments, including uneven tile floors and uneven surfaces, using optimized suspension structures and cushioning devices for stability. In addition, stability has been greatly improved so that multiple robots can be operated in the same space at the same time.With the launch of these robots, KT plans to expand the use of

May 2, 2023By Baek Byung-yeul

KT launches 2 service robots for restaurants

Quest vows to help Korean clients manage cloud risk

Youn Byung-hoon, country manager of Quest Software Korea, speaks during a press conference at the Westin Josun Seoul hotel, Tuesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulQuest Software, a U.S.-based IT management and security software company, will provide comprehensive solutions in IT system digitization and cloud computing backup for enterprise clients in Korea to help them reduce operational risks, according to the head of its Korean branch, Tuesday.“Companies face the risk of managing their own data and that of their customers. Managing data is always a risk, so it's as important to a company's operations as increasing revenue and reducing costs. We want to reduce the risk to our customers in this area,” Youn Byung-hoon, country manager of Quest Software Korea, said in a press conference in Seoul.Established in California in 1987, Quest Software is best known for active directory security and active directory disaster recovery. Quest Software said an active directory is a type of database and set of services that connects users with the network resour

May 2, 2023By Baek Byung-yeul

Quest vows to help Korean clients manage cloud risk

Strict safety standards called for EV batteries amid series of fires

This May 2 photo shows the Jeju International Convention Center on Jeju Island, where the 10th International Electric Vehicle EXPO (IEVE) is being held for six days from May 2. YonhapThe government and car manufacturers have to put a bigger focus on the safety of battery packs as a series of recent battery fires may drive down demand for electric vehicles (EVs) and have a negative impact on the burgeoning EV market, experts said Tuesday.Korea currently has about 400,000 registered EVs, accounting for 1.6 percent of the country's registered passenger and commercial vehicles, amid automakers' accelerating electrification push in recent years. But battery fires in some EV models have sparked grave concerns among consumers over the safety of pure electric cars. "The demand for safety in EVs is growing bigger than that for extended driving range due to some recent battery fire incidents," Choi Woong-chul, a professor who teaches automotive engineering at Kookmin University, said in a seminar on the sidelines of the 10th International Electric Vehicle EXPO (IEVE). The annual EV exhibition

May 2, 2023

Strict safety standards called for EV batteries amid series of fires

Yoon-Biden summit paves way for bilateral semiconductor partnership

South Korean President Yoon Suk Yeol and U.S. Secretary of Commerce Gina Raimondo attend a meeting of the U.S.-Korea Business Council at the U.S. Chamber of Commerce in Washington, D.C., U.S., April 25, 2023. Reuters-YonhapThe summit between South Korean President Yoon Suk Yeol and U.S. President Joe Biden has paved the way for the "world's best" bilateral semiconductor partnership, the finance ministry said Sunday.President Yoon returned home Sunday from a six-day state visit to the United States, together with the chiefs of the country's four major conglomerates Samsung, SK, Hyundai Motor and LG Group. In one of the visit's major achievements, Seoul and Washington agreed to build a partnership in case of any disruptions in the global supply chains of the cutting-edge semiconductor industry, the Ministry of Economy and Finance said in a statement. The two countries agreed to cooperate in the fields of next-generation semiconductors, cutting-edge packaging and high-end materials RD projects to secure leadership in the semiconductor sector, the statement said. They also agreed to mini

Apr 30, 2023

Yoon-Biden summit paves way for bilateral semiconductor partnership

Korean astronomers help spot black hole launching jets

This image obtained by global astronomers shows the jet and the black hole shadow in Messier 87, or M87, a galaxy located about 53 million light years from Earth. A global collaboration that includes astronomers from Korea identified the shadow of the black hole and the jets ejected from it, Korea Astronomy and Space Science Institute (KASI) said Thursday, publishing the findings in the scientific journal Nature. KASI added that the joint research advances our understanding of the all-consuming black hole, a cause of various astrophysical phenomena. Courtesy of KASI, Nature 

Apr 27, 2023By Baek Byung-yeul

Korean astronomers help spot black hole launching jets

ANALYSIS US could ask S. Korea to join OLED sanctions against China

U.S. Marine Corps F-35B fighter jets are seen at Gwangju Air Base, April 14, in this photo provided on April 16 by South Korea's Defense Ministry. AP-YonhapChina hopes to keep OLED tools working within its OLED ecosystem ahead of possible US export controls: experts By Kim Yoo-chulThe United States has implemented unprecedented initiatives in semiconductor policy over the last few years, identifying computer chips as the most crucial element of Washington's rivalry with Beijing.But the steps Washington has taken to keep China's technological development in check could expand as the Joe Biden administration is eyeing the Asian giant's display industry as the next possible target, two sources contacted by The Korea Times said.Because the U.S. semiconductor production chain is based off shore, Washington asked its allies including Korea, Japan, Taiwan and the Netherlands to stand together to stay ahead of Beijing in manufacturing advanced semiconductors as China makes rapid progress in defense and technological innovations.Semiconductors are essential for artificial intelligence, microe

Apr 27, 2023By Kim Yoo-chul

[ANALYSIS] US could ask S. Korea to join OLED sanctions against China

SK hynix suffers $2.54 bil. loss in Q1 on memory chip bust

SK hynix's chip production facility in Icheon, Gyeonggi Province / Courtesy of SK hynixChipmaker expects conditions to improve from Q2By Baek Byung-yeulSK hynix posted an operating loss of 3.4 trillion won ($2.54 billion) in the first quarter of this year, suffering a loss for the second consecutive quarter due to deteriorating semiconductor industry conditions, the memory chipmaker said, Wednesday. However, the company added it expects global chip market conditions to recover in the second quarter after bottoming out in the first three months of this year.Also, the company aims to sell more high-capacity memory chips, targeting the growing data center server market, which has seen increasing demand for high-priced memory chips due to the popularity of generative AI services like ChatGPT.In its first quarter earnings announcement, SK hynix said sales totaled 5.08 trillion won, down 58 percent from the same period last year. The operating loss of 3.4 trillion won is the second consecutive quarterly loss, following an operating loss of 1.89 trillion won in the fourth quarter of 2022. I

Apr 26, 2023By Baek Byung-yeul

SK hynix suffers $2.54 bil. loss in Q1 on memory chip bust

AWS expands into financial cloud market in Korea

No Kung-fun, head of Financial Services Industry of AWS Korea, speaks during a press conference at the company's headquarters in Seoul, Wednesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulAmazon Web Services (AWS), a global top cloud computing service provider, is expanding its presence in Korea's financial market as customers look for flexibility in an increasingly uncertain market, an official at its Korean branch said Wednesday.“In 2019, regulation was revised to allow cloud services in the financial industry. The demand for digital financial services has exploded in the wake of the pandemic in 2020, and the government's launch of the MyData service last year, which allows customers to manage their own financial data, has increased demand for cloud from many financial customers,” No Kung-fun, head of Financial Services Industry of AWS Korea, said during a press conference in Seoul.No elaborated that as uncertainty grows in the markets, data-driven decision-making is increasingly important to companies in the financial sector, and cloud computing services t