Business - The Korea Times

Korea-US alliance will thrive also in space: President Yoon

President Yoon Suk Yeol delivers a speech as U.S. Vice President Kamala Harris listens during his visit to NASA's Goddard Space Flight Center in Maryland, Tuesday (local time). YonhapBy Nam Hyun-wooWASHINGTON, D.C. ― President Yoon Suk Yeol visited NASA's Goddard Space Flight Center on Tuesday (local time) and stressed the importance of the alliance between South Korea and the U.S. in space development and security.Yoon, who is on a state visit to the U.S., was welcomed to the space center by U.S. Vice President Kamala Harris. They acknowledged the ongoing bilateral collaborations for technologies required for space exploration and noted that space will be the next domain for the two countries' alliance.“I have always believed that our future lies in space,” Yoon said during the visit. “In space, we can pursue the maximum efficiency through intergovernmental solidarity and cooperation and can create greater synergy.”Yoon said he hopes the domain of the South Korea-U.S. alliance will expand into space and expects the two countries' space alliance to become the

Apr 26, 2023By Nam Hyun-woo

Korea-US alliance will thrive also in space: President Yoon

Samsung, SK in dilemma over US pressure not to boost chip output in China

President Yoon Suk Yeol and U.S. President Joe Biden take a look around Samsung Electronics' semiconductor factory in Pyeongtaek, Gyeonggi Province, under the guidance of Samsung Chairman Lee Jae-yong, third from left, May 20, 2022. YonhapGov't urged to take firm stand on Washington's requestBy Baek Byung-yeulKorea's top memory chipmakers ― Samsung Electronics and SK hynix ― are caught in the middle of an escalating U.S.-China semiconductor tussle, facing pressure from Washington to stop boosting semiconductor output in their largest market, China, according to industry experts, Tuesday. They urged the Korean government to take more steps to protect them, claiming it is going too far to tell for-profit companies to make business decisions based on the logic of a geopolitical power struggle.On Monday, the Financial Times reported that the U.S. government has asked the Korean government to prevent Korean chip companies from filling the shortage if China bans sales of American chipmaker Micron's memory chips.The U.S. request to Korea came after China began a security review of Micron, t

Apr 25, 2023By Baek Byung-yeul

Samsung, SK in dilemma over US pressure not to boost chip output in China

SK D&D, Yanolja Cloud set up joint proptech business venture

SK D&D CEO Kim Do-hyun, center, speaks during a press conference at Episode Gangnam 262 in Seoul, Tuesday. From left are Yanolja Cloud CEO Kim Jong-yoon, Kim and KMS CEO Suh Dong-rok. Courtesy of SK D&DBy Park Jae-hyukSK D&D, a real estate developer, and Yanolja Cloud, an artificial intelligence (AI) based software-as-a-service company, announced on Tuesday that they established a joint venture named Connectfy Cloud, in order to create a proptech business. Proptech, a portmanteau of the words “property” and “technology,” refers to the application of information technology and platform economics for the real estate industry.During Tuesday's press conference, SK D&D and Yanolja Cloud unveiled their plan to utilize the joint venture to connect cleaning, laundry, maintenance and interior design services with the residential and commercial spaces, which the two companies manage, based on cloud computing technology.Connectfy Cloud will therefore allow providers of such services and their customers to enhance efficiency, while saving them time and cos

Apr 25, 2023By Park Jae-hyuk

SK D&D, Yanolja Cloud set up joint proptech business venture

Musk tells rivals Tesla will put growth ahead of profit

Tesla CEO Elon Musk / Reuters-YonhapTesla Inc on Wednesday posted its lowest quarterly gross margin in two years, missing market estimates as it grappled with aggressive price cuts meant to spur demand in a sagging economy and fend off rising competition.The electric-vehicle maker has slashed prices several times in the United States, China and other markets since late last year, as CEO Elon Musk said Tesla could sacrifice its industry-leading margins to drive volume growth during a recession and keep pace with rising competition in China."It's better to shift a large number of cars at lower margin and harvest that margin in the future as we perfect autonomy," Musk told analysts on a conference call. He said although the economy remains uncertain, the EV maker's orders exceed production.For the first quarter, Tesla did not report automotive gross margin, a closely watched figure."We expect that our product pricing will continue to evolve, upwards or downwards, depending on a number of factors," the company said in a statement. It said it still believes its operating margin will remai

Apr 20, 2023

Musk tells rivals Tesla will put growth ahead of profit

SK hynix develops industry's 1st 12-layer HBM3 DRAM

SK hynix's 12-layer HBM3 DRAM chips / Courtesy of SK hynixBy Baek Byung-yeulSK hynix successfully developed the industry's first 12-layer stacked high bandwidth memory (HBM3) chip, aiming to overcome the low demand for semiconductor products with its advanced technology, according to the memory chipmaker, Thursday.HBM is a high-value and high-performance memory chip that vertically interconnects multiple DRAM chips to increase data processing speed in comparison to traditional DRAM chips.HBM3 is the fourth-generation one, succeeding the previous generations of HBM, HBM2 and HBM2E. SK hynix developed the first-generation HBM in 2013 and drew industry attention for its crucial role in implementing a generative AI that operates in high-performance computing systems. The company said it expects the product to be in high demand in sectors such as artificial intelligence (AI) that require a high capacity and fast data processing, and is currently validating its performance with customers.“The company succeeded in developing the 24GB package product that increased memory capacity by 5

Apr 20, 2023By Baek Byung-yeul

SK hynix develops industry's 1st 12-layer HBM3 DRAM

Hyundai Motor Group to make lunar roving vehicle

This concept image shows a lunar roving vehicle of Hyundai Motor Group conducting research activity on the moon. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group is extending its scope of business to space by developing lunar roving vehicles, according to the automotive giant, Thursday.The group said it has begun production of a development model of a lunar rover with domestic research institutes.They said its initiative to develop a rover for lunar exploration is aimed at contributing to the country's development of scientific research in the space sector.Starting with the development of this initial model, Hyundai Motor Group plans to continuously upgrade the technology so that it will have a product that can actually explore the lunar surface by 2027.Through discussions with local institutes, the automotive group finalized the initial model of the lunar roving vehicle, to land on the south pole of the moon and implement various scientific missions including mineral extraction and environmental analysis.“The concept of the lunar rover vehicle is a compact-

Apr 20, 2023By Baek Byung-yeul

Hyundai Motor Group to make lunar roving vehicle

Korean IT companies throw spotlight on AI, robotics at World IT Show

Visitors are seen at the World IT Show held at the COEX convention center in Seoul, Wednesday. YonhapLocal tech show features 447 firms to introduce IT trendsBy Baek Byung-yeulSamsung Electronics, LG Electronics, SK Telecom, KT and other Korean IT companies are exhibiting their new technologies and products focusing on emerging technologies such as artificial intelligence (AI), extended reality (XR), robotics and gadget connectivity at this year's World IT Show (WIS), according to the companies, Wednesday.Hosted by the Ministry of Science and ICT, the WIS is the country's largest IT show, shedding light on the nation's IT industry. This year's WIS tech exhibition takes place for three days from Wednesday to Friday, at the COEX convention center in southern Seoul.The WIS features 447 companies from nine countries, dealing with the latest digital technologies such as AI-related products, internet of things (IoT), metaverse-related technologies such as virtual reality (VR), augmented reality (AR) and XR, mobility, robots, blockchain and digital healthcare.A spokesman of the event organi

Apr 19, 2023By Baek Byung-yeul

Korean IT companies throw spotlight on AI, robotics at World IT Show

World IT Show kicks off in Seoul

The title image of the World IT Show 2023 / Courtesy of World IT ShowThis year's World IT Show kicked off Wednesday in Seoul to showcase up-to-date telecommunications and ICT services and products.Under the slogan "Changing our life, K-Digital," the WIS 2023 will run through Friday at the Convention and Exhibition Center (COEX) in southern Seoul, according to the Ministry of Science and ICT.More than 460 companies at home and abroad will participate in the show's 15th edition, with some 100,000 professionals in the ICT industry, the ministry said.The show will feature specialized exhibitions of various IT products and services and business matchmaking programs, with industry outlook conferences. (Yonhap)

Apr 19, 2023

Korea to extend support for 'key strategic technologies' of advanced materials, parts, equipment

Finance Minister Choo Kyung-ho, right, front, visits Samsung Electronics's Pyeongtaek Campus in Pyeongtaek, Gyeonggi Province in this file photo provided by the finance ministry, April 7. YonhapKorea will add 50 advanced technologies related to the materials, components and equipment fields to the state "key strategic technology list" to nurture companies that can secure outstanding global competitiveness, the industry ministry said Tuesday.Currently, the government has designated 150 major strategic technologies related to materials, parts and equipment in seven industries, including semiconductors, displays and vehicles, in order to provide strong backing for their development, and the list will be expanded to include 50 additional items in the space, defense and hydrogen sectors, according to the Ministry of Trade, Industry and Energy."Now is the time for Korean firms to actively make inroads into the global market based on their advanced technologies amid fast-changing global supply chain circumstances. The government will spare no effort to support corporate investment for such

Apr 18, 2023

Korea to extend support for 'key strategic technologies' of advanced materials, parts, equipment

Privacy regulator checks ChatGPT's collection of Korean user data

American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim, front row third from left, and Personal Information Protection Commission Chairman Ko Hak-soo, front row fourth from left, pose with representatives from U.S. firms in Korea, during their meeting at Grand Hyatt Seoul, Tuesday. Courtesy of AMCHAMBy Park Jae-hyukKorea's top privacy regulator told representatives of U.S. companies in Korea, Tuesday, that authorities here are assessing how data pertaining to Korean users has been used for the development of ChatGPT, which has attracted global attention.The comments were made by Personal Information Protection Commission (PIPC) Chairman Ko Hak-soo during a meeting with members of the American Chamber of Commerce in Korea (AMCHAM).“We are not conducting an investigation at this moment toward ChatGPT,” Ko said. “However, we are checking whether Korea's data has been used for ChatGPT's AI model building and how the data has blended in.”Ko told reporters last Friday that the government is communicating with OpenAI, the developer of the artificial intell

Apr 18, 2023By Park Jae-hyuk

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