Business - The Korea Times

ANALYSIS US geopolitical strategy may impact Samsung, SK

U.S. Secretary of Commerce Gina Raimondo listens during a virtual meeting with Deputy Secretary of Defense Kathleen Hicks, CEOs and labor leaders called to discuss the importance of passing the Chips Act to bolster America's competitive edge, its manufacturing power and national security at the White House in Washington, D.C., July 25, 2022. UPI-YonhapHow to define 'legacy chips' to become key issue for funding from CHIPS Act By Kim Yoo-chulU.S. President Joe Biden's official launch of the first funding opportunity for the CHIPS and Science Act (CHIPS Act) features a set of export controls that include detailed measures to cut China off from importing advanced semiconductors made in any country using U.S.-patented chip equipment.The law clearly illustrates the administration's intention to set Chinese manufacturers back years because the regulations will directly curb their ambitious aim to miniaturize chips. Seemingly, the U.S. is feeling a sense of urgency about China threatening its decades-long dominance in the military and technology sectors.What is noteworthy within the CHIPS A

Mar 6, 2023By Kim Yoo-chul

[ANALYSIS] US geopolitical strategy may impact Samsung, SK

Kakao to release generative AI models

Kakao Brain CEO Kim Il-doo, left, poses with company employees, Friday. Courtesy of Kakao BrainBy Baek Byung-yeulKakao has joined the boom of generative artificial intelligence (AI) services sparked by the explosive response to OpenAI's ChatGPT service, as its AI arm Kakao Brain will release the latest version of KoGPT, its own AI service, within the first half of this year, according to the company, Friday. “Using AI technology we will lead people to a better life and continue to pursue our vision, which is to keep asking unthinkable questions,” Kim Il-doo, CEO of Kakao Brain, said during an online event introducing its vision on Thursday night.Kakao Brain was established in 2017 as Kakao forecast that businesses derived from AI would become its future growth engine.As part of the vision, Kakao Brain will launch the upgraded generative AI service KoGPT, which will have strength in communicating with Korean language users. The company released a version of KoGPT in 2021 that was based on OpenAI's GPT-3 model, but the updated KoGPT will be based on GPT-3.5, the same versio

Mar 3, 2023By Baek Byung-yeul

Samsung, SK hynix in dilemma over US chip subsidies

U.S. President Joe Biden speaks at an event promoting the CHIPS for America Funding Opportunity, at Onondaga Community College in Syracuse, New York, in this October 2022 file photo. Reuters-YonhapBiden's strings-attached financial aid makes building semiconductor plants in US less attractive By Park Jae-hyukSamsung Electronics and SK hynix took a cautious stance toward the U.S. government's latest announcement on the specifics of the CHIPS for America Funding Opportunity, saying that it is too early for them to decide whether or not to apply for the subsidies.Korean chipmakers have been worried about the fact that the U.S. incentive program includes rules that could endanger their global businesses, including their operations in China.“We are reviewing the U.S. subsidy rules at this moment,” a Samsung Electronics spokesperson said Thursday.An SK hynix spokesperson declined to comment on the issue.Their responses contradicted U.S. President Joe Biden's confident remarks that the subsidies will help encourage semiconductor investments in America. Biden said on Wednesday th

Mar 2, 2023By Park Jae-hyuk

Samsung, SK hynix in dilemma over US chip subsidies

LG-Honda battery joint venture breaks ground in US

Lee Hyuk-jae, fifth from left, CEO of a joint venture between LG Energy Solution and Honda, Kim Dong-myung, center, president of LG Energy Solution, Toshihiro Mibe, fifth from right, CEO of Honda, and Mike DeWine, fourth from right, governor of Ohio, pose during a groundbreaking ceremony of the joint venture's battery plant in Fayette County, Ohio, Tuesday (local time). Courtesy of LG Energy SolutionBy Baek Byung-yeulA joint venture between Korean battery maker, LG Energy Solution, and Japanese auto giant, Honda, held a groundbreaking ceremony for its electric vehicle (EV) battery-manufacturing plant in the U.S. state of Ohio, the battery company said Wednesday. The joint venture, tentatively named L-H Battery Company, is scheduled to be completed at the end of 2024 and begin mass-producing batteries, which will be supplied only to Honda's plants in North America, from the end of 2025. The factory, which was built with an overall investment of $4.4 billion, will have an annual production capacity of 40 gigawatt-hours, LG said.“It is an honor to represent two great corporations,

Mar 1, 2023By Baek Byung-yeul

LG-Honda battery joint venture breaks ground in US

KT showcases self-driving delivery robot at MWC

A visitor to KT's booth at the MWC tech show in Barcelona takes a look the company's delivery robot, Monday (local time). Courtesy of KTBy Baek Byung-yeulKT showed off its robotics tech at the Mobile World Congress (MWC) in Barcelona as part of the mobile carrier's effort to meet with more global clients in the emerging service robot market, according to the company, Tuesday.During the first day of the MWC tech show, the company displayed its delivery robots that can be used in various fields such as hotels, resorts and hospitals. The company also introduced a robotics business management platform service Robot Makers.The company said its Robot Makers platform is a cloud-based integrated control platform that can connect between different types of robots. Also, the platform can connect the robots with various kinds of infrastructure they can use such as elevators, product order and payment apps, doors, interphones and even cold-chain storage, a supply chain for temperature-sensitive products.“It is an open structure system that can apply various robots to various businesses. To

Feb 28, 2023By Baek Byung-yeul

KT showcases self-driving delivery robot at MWC

SK chairman vows to nurture AI ecosystem

Naver to launch hyperscale AI service HyperCLOVA X in July

Kim Yoo-won, co-CEO of Naver Cloud, introduces the company's hyperscale AI HyperCLOVA X during the Naver DEVIEW developers' conference at the COEX convention center in Seoul, Monday. Courtesy of Naver 'HyperCLOVA X learns Korean language 6,500 times more than ChatGPT'By Baek Byung-yeulNaver will introduce HyperCLOVA X, its hyperscale artificial intelligence (AI) model that has learned 6,500 times more Korean than American AI company OpenAI's ChatGPT, in order to compete with prominent global AI services, according to CEO of Naver Cloud, Monday.“Team Naver is ready to join the changing global trends with its global-level AI technology and capabilities,” Kim Yoo-won, co-CEO of Naver's cloud service arm Naver Cloud, said during the Naver DEVIEW developers' conference in Seoul.Kim said the service, which will be introduced in July, is an upgrade of its hyperscale AI model HyperCLOVA, which was unveiled in May 2021.“HyperCLOVA X is a hyperscale AI that has been upgraded so that users can combine their own data with HyperCLOVA to provide immediate responses that meet cust

Feb 27, 2023By Baek Byung-yeul

Naver to launch hyperscale AI service HyperCLOVA X in July

SKT, KT to display AI capabilities at Mobile World Congress

Models try out SK Telecom's urban air mobility simulation with virtual reality devices at the company's booth at the Mobile World Congress (MWC) in Barcelona, Sunday. Courtesy of SK TelecomSamsung to display 5G solutions, new Galaxy gadgetsBy Baek Byung-yeulSK Telecom and KT will put their capabilities in artificial intelligence (AI) technology on show at the Mobile World Congress (MWC) telecommunications tech show, which will kick off its four-day run in Barcelona, Spain, according to the Korean mobile carriers, Sunday.This year's MWC, one of the largest tech shows in the world along with the CES and the IFA, is gaining attention as it is expected to mainly deal with AI technology, whose presence is permeating our daily lives after the emergence of conversational AI service ChatGPT.In response to this trend, not only Korean companies like SK Telecom and KT and big tech company Microsoft, but startup companies will also present their latest AI technologies and services.SK Telecom said its booth centers on AI to showcase a total of 10 AI technologies and services such as hyperscale AI

Feb 27, 2023By Baek Byung-yeul

SKT, KT to display AI capabilities at Mobile World Congress

Space industry set to become valuable across sectors

Park Si-soo, CEO of Spaceradar, speaks on KBS TV's primetime news show on Jan. 3. Courtesy of Park Si-sooBy Lee Hyo-sikThe global space industry is generating considerable excitement. South Korea, a relatively new entrant to the sector, is feeling the effects as a wave of startups emerge with innovative products and services.Park Si-soo, a former reporter at The Korea Times, has joined the wave with Spaceradar, a space industry intelligence provider he founded. He launched the company last year, offering a range of space market information to industry insiders, space enthusiasts and others. “Space is becoming a potential source of value for businesses across a range of sectors, including communications, finance, agriculture, pharmaceuticals, consumer goods and tourism, just to name a few,” Park told The Korea Times. “That means people need to know things beyond technology and engineering.” Park's background in journalism and business, combined with his Korean-English bilingual capability, has allowed his company to offer up-to-date market intelligence in a tim

Feb 24, 2023

Space industry set to become valuable across sectors

'Chaser,' 'Wailing' director shoots short film with Samsung Galaxy S23 Ultra smartphone

Director Na Hong-jin, center, who filmed the short film “Faith” using Samsung Electronics' Galaxy S23 Ultra smartphone, speaks during the film's premiere at Megabox theater in Seoul, Wednesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulFilm director Na Hong-jin was impressed with the camera capability of Samsung Electronics' Galaxy S23 Ultra smartphone, he said Wednesday, adding he was able to capture textures, vivid images and sounds without much difficulty when shooting the short film “Faith.”“I tried to capture all the elements in the frame with the smartphone. The camera caught the texture of the paint on actor Ko Jun's face, scratches on the key and dust on the glasses worn by actor Choi Moo-sung. In some cases, it showed much better results than a film camera,” the director said during a premiere event for the short film “Faith” at a theater in Seoul.For the short film with a 10-minute running time, Na, famous for his previous works “The Chaser” (2008), “The Yellow Sea” (2010) and “The Wai

Feb 22, 2023By Baek Byung-yeul

'Chaser,' 'Wailing' director shoots short film with Samsung Galaxy S23 Ultra smartphone

Major Korean companies vie for UAM leadership

Eo Myeong-so, vice minister of land, infrastructure and transport, speaks during an agreement ceremony for the K-UAM Grand Challenge demonstration project at the Grand Hyatt Seoul hotel in Seoul, Wednesday. YonhapKorea on course to commercialize air taxi in 2025 By Baek Byung-yeulHyundai Motor and three mobile carriers ― SK Telecom, KT and LG Uplus ― are vying for leadership in urban air mobility (UAM) as they prepare to kick off demonstration projects for air taxi service, which is expected to begin commercial operation in 2025, according to the government and the companies, Wednesday.The Ministry of Land, Infrastructure and Transport held an agreement ceremony in Seoul for what it calls the K-UAM Grand Challenge, a demonstration project for the air taxi service. Companies will participate in the first phase of the demonstration project by building their own consortiums. A total of seven consortiums will demonstrate their abilities in three categories: UAM aircraft, UAM air traffic management and vertiport which are launch bases specially designed for aircraft that take off and land