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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Will questions on KT payment scam be resolved after arrest of suspects?

The KT payment fraud issue seems far from resolved, even after suspects were arrested due to a series of unauthorized mobile payment fraud cases that targeted the company's users. The telecoms industry is closely watching whether the lingering questions over the unprecedented use of rogue cellular base stations, which alarmed the public, will be answered. According to KT on Thursday, a total of 362 users have been affected, with the accumulated damages totaling 240 million won ($173,000), both figures up from last week’s announcement. “Since blocking suspicious payment attempts on Sept. 5, there were no additional cases reported,” Koo Jae-hyung, head of KT's Network Technology Division, said during a press briefing at its headquarters in Seoul. “As we expanded investigations on all payment attempts before the block, the number of victims increased by 84 from the previous announcement, and the total damages grew by 70 million won to 240 million won.” The company also said the number of KT users whose personal information — including their international mobile subscriber identit

Sep 18, 2025By Nam Hyun-woo
Will questions on KT payment scam be resolved after arrest of suspects?

Electronics giants scramble to cut costs through job cuts

Korean electronics giants LG Electronics and Samsung Electronics are scrambling to cut costs by launching programs aimed at downsizing their workforce, as their home appliance businesses are forecast to post disappointing numbers in the near future. According to industry officials on Thursday, LG Electronics will launch a voluntary redundancy program across all its business divisions, including Home Appliance Solution, Media Entertainment Solution, Vehicle Solution and Eco Solution. The program will target employees aged 50 and older or those with underperforming records. In return, the company will offer them standard severance pay and a package including up to three years of salary and two years of tuition support for their children. LG Electronics first implemented the policy last month in its Media Entertainment Solution division, which is in charge of its TV business, as the unit was the only one to post an operating loss in the second quarter, totaling 191.7 billion won ($138.5 million). It is the first time since 2023 that LG Electronics has offered a voluntary retirement program

Sep 18, 2025By Nam Hyun-woo
Electronics giants scramble to cut costs through job cuts

SK Networks introduces promising AI startups to investors

SK Networks, which has reinvented itself as an artificial intelligence (AI) company from its origins as a trading firm, hosted the SK Networks AI WAVE 2025 forum Wednesday to introduce promising startups from across the globe to investors and discuss the future of the AI ecosystem. At the second AI WAVE event, following its debut in 2023, SK Networks President and Chief Operating Officer Choi Sung-hwan delivered a keynote address, saying it is crucial to secure growth opportunities through active information exchange among innovative startups, industry leaders and prominent investors. "Through this event, we aim to present our AI investment portfolio that we have built since 2020 and to expand the ecosystem where technology, capital and vision are interconnected," he said. Choi also participated in a panel discussion with Sung Kim, CEO of Upstage — one of the AI startups backed by SK Networks and the only startup chosen for the government's Independent AI Foundation Model project. Upstage helps corporate clients build AI models and systems through its competitive large language model

Sep 18, 2025By Park Jae-hyuk
SK Networks introduces promising AI startups to investors

Naver CEO appointed to UN Global Compact board

Naver CEO Choi Soo-yeon has been appointed to join the board of the United Nations Global Compact (UNGC), in recognition of her leadership in international discussions to build a safer artificial intelligence (AI) ecosystem. Over the next three years, Choi will take part as a board member in regular meetings and major UNGC activities. UNGC is the world’s largest corporate sustainability initiative, with more than 25,000 companies and organizations from 167 countries participating. It helps companies practice responsible management for sustainable growth. "Choi Soo-yeon brings deep expertise on how digital companies can create value and scale globally while upholding principles on responsible and sustainable business,” UNGC CEO Sanda Ojiambo said. “We look forward to her participation on our Board as we mobilize business to deliver the Sustainable Development Goals.” UNGC acknowledged Choi’s leadership in global discussions regarding AI governance as well as her work in establishing ethical and responsible principles for the development of AI technologies. In February, Choi join

Sep 18, 2025By Lee Gyu-lee
Naver CEO appointed to UN Global Compact board

Kakao Healthcare, Canadian firm team up on AI health

Kakao Healthcare has signed a strategic business agreement with Providence Health Care (PHC) Ventures, a Canada-based health care platform company and startup accelerator arm of PHC. Kakao’s health care subsidiary announced Wednesday that it has partnered with PHC Ventures to build an integrated health care solution through collaboration on privacy and artificial intelligence (AI) technologies, aiming to use this as a stepping stone for global expansion. The agreement was inked during the 2025 Global Privacy Assembly in Yongsan District, Seoul, on Monday. The event is an annual international forum that brings together data protection and privacy authorities, legal experts and industry leaders globally. “Through this collaboration, we plan to further advance Kakao Healthcare’s data analytics solutions and accelerate our entry into global markets, starting with North America,” Shin Soo-yong, chief research officer at Kakao Healthcare, said in a press release. Through this partnership, the two companies will jointly research and develop an integrated solution by combining Kakao’s

Sep 17, 2025By Lee Gyu-lee
Kakao Healthcare, Canadian firm team up on AI health

LG to supply home appliances for US builder Century Communities

LG Electronics will supply home appliances for tens of thousands of new homes constructed by U.S. builder Century Communities through 2029, the tech firm said Wednesday. The two sides recently signed an exclusive deal under which LG will supply refrigerators, washers, dryers and other artificial intelligence (AI)-powered appliances for new homes built by Century Communities. As part of the deal, LG Pro Builder, LG Electronics’ dedicated builder sales and service organization, will propose and supply customized home appliances tailored to customers’ lifestyles, housing structures, terrain and climate conditions. Century Communities is one of the top 10 national builders in the U.S., building new homes and commercial buildings across 17 states. National builders refer to large companies with a presence across multiple states. The deal marks LG Electronics’ second large-scale partnership with a national builder in the U.S., following last year’s supply agreement with Lennar, the country’s second-largest home builder. LG Electronics said the partnerships demonstrate that the compan

Sep 17, 2025By Nam Hyun-woo
LG to supply home appliances for US builder Century Communities

IITP, Microsoft collaborate to build global network for fostering AI workers

A total of 34 Korean artificial intelligence (AI) researchers have successfully announced the results of their internships in a program jointly organized by the Ministry of Science and ICT, the Institute of Information & Communications Technology Planning & Evaluation (IITP) and Microsoft Research Asia (MSRA), aimed at fostering a global AI workforce. According to the IITP, the three sides jointly held 2025 Korea Day @ MSRA in Beijing on Monday and Tuesday, where the interns and MRSA researchers shared their latest achievements. Participating in the event were IITP President Hong Jin-bae, MSRA Managing Director and Corporate Vice President Lidong Zhou and more than 100 other researchers, professors and participating interns. In order to train IT workers, the IITP has been running the internship program in cooperation with MSRA since 2011. Among more than 170 graduates, 48 have been hired by leading IT companies in and outside of Korea, 33 have taken faculty positions at top universities such as Seoul National University (SNU) and Korea Advanced Institute of Science and Technology, and 2

Sep 17, 2025By Nam Hyun-woo
IITP, Microsoft collaborate to build global network for fostering AI workers

Leading telecoms struggle with aftermath of data breach

In the wake of recent data breaches and cyberthreats, Korea’s major mobile carriers SK Telecom and KT are under heightened scrutiny from authorities and facing growing concerns from consumers, as both scramble to reassure users and contain potential fallout. SK Telecom, the nation’s largest telecom operator, is still reeling from a massive hacking incident in April that affected 27 million users with a personal information breach and dragged its market share below 40 percent for the first time in a decade. The Ministry of Science and ICT said Tuesday it has launched an investigation into a group identifying itself as an international hacking organization that is claiming it owns stolen SK Telecom customer data and seeks to sell it. The group, calling itself Scattered Lapsus$, posted on Telegram Monday claiming it possesses the data of 27 million SK Telecom users and is selling a 100 gigabyte sample of the dataset for $10,000. It said the data includes personal information such as user IDs, full names, phone numbers, emails, addresses and birthdates. The group shared images of sample

Sep 16, 2025By Lee Gyu-lee
Leading telecoms struggle with aftermath of data breach

PHOTO Changes in M87 black hole

This combined photo shows changes in the magnetic field of the Messier 87 (M87) black hole observed in 2017, 2018 and 2021. The Korea AeroSpace Administration said Tuesday that the Event Horizon Telescope (EHT) Collaboration, a group of global observatories united to image emissions around supermassive black holes, has observed the black hole’s shadow and ring of light. While the size of the shadow and surrounding ring stayed the same, the direction of the ring, which shows the shape of the magnetic field around the black hole, changed from year to year. Korean researchers made a key contribution to the EHT team by analyzing changes in the magnetic field using self-developed software. Courtesy of EHT Collaboration

Sep 16, 2025By Nam Hyun-woophoto
[PHOTO] Changes in M87 black hole

InterviewDaegu sets its sights on becoming Korea’s Boston

DAEGU — The southeastern metropolitan city of Daegu shares a similarity with Boston, the global hub of life sciences. Like Boston, which boasts world-renowned universities, nearly 1,000 biotech companies and the headquarters of major pharmaceutical giants, Daegu is home to several high-end medical centers and a growing pool of biomedical talent. This strong infrastructure was a key reason why the landlocked city was chosen to host the Daegu Gyeongbuk Medical Innovation Foundation, better known as K-MEDI Hub. Established in 2010 under the Ministry of Health and Welfare, K-MEDI Hub supports pharmaceutical and biotech startups with the goal of nurturing unicorn companies and positioning Daegu as Korea’s life sciences capital. “In Korea, Daegu ranks third in the number of professionals in the medical field — including doctors, nurses and veterinarians — following Seoul and Gyeonggi Province,” said Park Gu-sun, chairman of K-MEDI Hub, in an interview at his office with The Korea Times on Sept. 9. The foundation traces its origins to former President Roh Moo-hyun’s vision to tran

Sep 16, 2025By Kang Hyun-kyung
Daegu sets its sights on becoming Korea’s Boston
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