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  • Companies

    Korea mounts final push for Canada's $39 bil. submarine project

    The Korean government and defense players are making last-ditch efforts to win Canada’s next-generation submarine project worth up to 60 trillion won ($39.14 billion), as Ottawa is expected to select a preferred bidder by the end of this month. Under the Canadian Patrol Submarine Project, the Royal Canadian Navy’s aging fleet of four Victoria-class submarines will be replaced with 12 new 3,000-ton diesel-electric vessels. The comprehensive contract includes long-term maintenance, repair and overhaul (MRO) lifecycles. With a decision looming, Seoul has elevated its bid to top-tier head-of-state diplomacy, seeking to give Korea’s consortium, led by Hanwha Ocean, an edge over rival bidder TKMS of Germany — a traditional heavyweight in submarine technology — in the closely contested race. President Lee Jae Myung recently provided critical diplomatic backing during a bilateral summit with Canadian Prime Minister Mark Carney on the sidelines of the Group of Seven summit in Evian-les-Bains, France. Lee said he emphasized Korea’s readiness to contribute to Canada’s defense capabil

    3 MIN READBy Lee Min-hyung
    Korea mounts final push for Canada's $39 bil. submarine project
  • Companies

    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

    1 MIN READBy Lee Min-hyung
    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics
  • Tech & Science

    Korean battery makers accelerate push into US ESS market

    2 MIN READBy Lee Gyu-lee
    Korean battery makers accelerate push into US ESS market
  • Banking & Finance

    Woori Financial steps up productive finance with $6.5 bil. boost

    2 MIN READBy Lee Hyo-jin
    Woori Financial steps up productive finance with $6.5 bil. boost
  • Companies

    Coway targets smaller households with compact food waste processor

    2 MIN READBy Lee Gyu-lee
    Coway targets smaller households with compact food waste processor
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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.

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Tech & Science

SK, Nvidia chiefs discuss AI ties in Silicon Valley: sources

SK Group Chairman Chey Tae-won met Nvidia Corp. Chief Executive Officer (CEO) Jensen Huang at a Korean fried chicken restaurant in Silicon Valley last week, with Chey's eldest daughter and vice president of the South Korean conglomerate's biopharmaceutical arm also in attendance, industry sources said Wednesday. The two business leaders and Chey Yoon-chung, vice president of SK Biopharmaceuticals Co., met Thursday (U.S. time) and discussed possible cooperation in the artificial intelligence (AI) industry encompassing the chips and biotechnology sectors, the sources said. The gathering venue was a Korean-style restaurant, apparently mirroring Huang's October meeting over beer with Hyundai Motor Group Executive Chair Euisun Chung and Samsung Electronics Chairman Lee Jae-yong at a fried chicken restaurant in southern Seoul. During their two-hour meeting, the SK chief and Huang are widely believed to have discussed supply plans for HBM4, the next generation of high-bandwidth memory (HBM) expected to be used in Nvidia's upcoming AI accelerator, dubbed Vera Rubin. The sources said the two may

Feb 11, 2026By Yonhap
SK, Nvidia chiefs discuss AI ties in Silicon Valley: sources
Companies

Burger chain Lotteria opens 1st outlet in Singapore

Lotteria, a burger chain operated by Lotte Group affiliate Lotte GRS Co., said Wednesday it has opened its first outlet in Singapore as part of its overseas expansion. Lotte GRS signed an agreement with Singapore-based food and hospitality company Katrina Group Ltd. to introduce the brand to the city-state, with Katrina Group operating Lotteria outlets there, the company said in a press release. The first Singapore outlet, located at Jewel Changi Airport, offers a range of so-called K-burger products, including the kimchi bulgogi burger. "We will continue to seek growth as a global Korean franchise by expanding our overseas operations," a company official said. Lotte GRS operates about 1,300 Lotteria outlets in South Korea and roughly 330 overseas, including in Vietnam, Myanmar, Laos, Malaysia, Mongolia and the United States. The company opened its first U.S. outlet in Orange County, California, in August.

Feb 11, 2026By Yonhap
Burger chain Lotteria opens 1st outlet in Singapore
Companies

Daemyung Sono's holding firm to enter Japan with resort business

Daemyung Sono Group, a major Korean condominium and resort company, said Wednesday its holding company will enter the Japanese market later this year with its hotel and resort business. Under a consignment operating agreement with a local hotel operator, Sono International will renovate and reopen the Compass Hotel Nagoya as Sono Moon Nagoya in July, the company said in a press release. "Japan is an important market for Sono International's global expansion strategy, given its well-developed tourism infrastructure and strong travel demand in major cities," a company official said. Sono International opened its first overseas resort facility in Vietnam in 2019 and currently operates 21 hotel and resort properties across five countries, including Thailand, Indonesia, the United States and France. The company said it aims to open an additional 11 hotel and resort properties in Asia by 2029.

Feb 11, 2026By Yonhap
Daemyung Sono's holding firm to enter Japan with resort business
Companies

Hyundai E&C ramps up efforts to revive US nuclear reactor construction

Hyundai E&C said Wednesday it hosted a seminar on large-scale nuclear power plant technologies in Texas to enhance the region’s understanding of reactor construction projects through field-specific professional sessions. According to the construction firm, the event served as a platform to strengthen partnerships with leading local companies for the successful construction of four reactors within Fermi America’s Project Matador, an 11-gigawatt private energy campus in the southern U.S. state. Since signing a contract with Fermi America last year for the front-end engineering design of the four reactors, Hyundai E&C has stepped up efforts to lay out facilities on the site, choose a cooling system and estimate costs. The Korean firm aims to sign an engineering, procurement and construction contract for the project during the first half of this year. “We hope this seminar will contribute to encouraging leading local construction companies to participate in nuclear plant projects,” a Hyundai E&C official said. “As Hyundai E&C and Fermi America have continued discussions on broader

Feb 11, 2026By Park Jae-hyuk
Hyundai E&C ramps up efforts to revive US nuclear reactor construction
Tech & Science

Samsung shows confidence in HBM, portrays next-gen road map

Samsung Electronics Chief Technology Officer Song Jai-hyuk said Wednesday the company’s high-bandwidth memory 4 (HBM4) chip is showing “good” manufacturing yield, adding that clients have expressed strong satisfaction with its performance. “We may have fallen short of demonstrating our world-class technological responsiveness to customer needs for a while, but this should be seen as a return to that standard,” Song told reporters before his keynote speech for SEMICON Korea 2026 in Seoul. Samsung reportedly plans to begin HBM4 mass production and shipping to major customers later this month. Its HBM4 chips are using its 1c process, the sixth-generation 10-nanometer-class DRAM technology, for the DRAM cell die, while using a 4-nanometer foundry process for the base die. Based on these technologies, Samsung had its HBM4 chips achieve data processing speeds of up to 11.7 gigabits per second (Gbps), exceeding the Joint Electron Device Engineering Council’s standard of 8 Gbps. Since they are the industry’s latest technologies, questions have been raised over how the company will

Feb 11, 2026By Nam Hyun-woo
Samsung shows confidence in HBM, portrays next-gen road map
Companies

Hyundai, Kia, BMW to recall nearly 180,000 vehicles over software defects

Hyundai Motor Co., Kia Corp. and BMW Korea will voluntarily recall a combined 179,880 vehicles across 51 models due to software-related manufacturing defects, the transport ministry said Wednesday. According to the ministry, Hyundai Motor will recall 36,603 units of the Porter II Electric due to a software error that could affect braking performance. The automaker will also take corrective measures for 39,148 vehicles across 20 models, including the Grandeur and the Sonata, over a software defect in the instrument cluster control system. Kia will also recall 25,078 units of the Bongo III electric vehicle (EV) over a software issue that could reduce braking performance. In addition, 69,137 Kia vehicles across 16 other models will be recalled starting Tuesday over a similar issue. BMW Korea will recall 9,914 vehicles across 13 models, including the i5 eDrive40, due to a software defect in the air conditioner compressor control unit.

Feb 11, 2026By Yonhap
Hyundai, Kia, BMW to recall nearly 180,000 vehicles over software defects
Business

Inspire appoints Steven Wolstenholme as chief casino officer

Inspire Entertainment Resort said Tuesday it has appointed Steven Wolstenholme as its new chief casino officer, bringing more than three decades of experience in integrated resort and casino operations across North America and Asia. Wolstenholme will be responsible for setting the strategic direction of Inspire’s casino business and leading its mid- to long-term growth plans, the company said. His role will also include strengthening operational processes and reinforcing the resort’s market positioning as Korea expands its integrated resort sector. Wolstenholme previously served as president and chief executive officer of Hoiana Resort & Golf in Vietnam and as president of Okada Manila in the Philippines. His career spans the full lifecycle of large-scale integrated resort projects, from development and opening to stabilized operations. Earlier in his career, Wolstenholme served as chief operating officer at Galaxy Macau, where he led organizational reforms during the global financial crisis, and as president of the Grand Sierra Resort in Nevada, where he improved operating profitab

Feb 11, 2026By Kim Hyun-bin
Inspire appoints Steven Wolstenholme as chief casino officer
Others

Chinese medical tourists flock to Korea for dermatology ahead of Spring Festival

With China’s Spring Festival approaching, Lu Xiao decided to try dermatology treatments for the first time, hoping to look her best for family gatherings during the break. “I’ve seen a lot of posts on social media about the effects of dermatology treatments recently, and they looked quite appealing, so I wanted to try it myself,” Lu said. She flew to Korea for a three-day trip earlier this month and opted for Thermage and ultrasound-based lifting treatments at a clinic in Myeong-dong, aimed at addressing signs of aging and improving skin firmness. “Some clinics in China may use uncertified devices, and prices here are more competitive,” Lu said. The treatments cost around 10,000 yuan ($1,444) in total — roughly 40 percent cheaper than quotes she received in China. Lu is among a growing number of Chinese consumers traveling to Korea for dermatology and skin care services, even as weak consumer confidence at home has kept overall spending subdued. According to Korea’s Ministry of Health and Welfare, the number of inbound medical patients from China surged by 132 percent in 20

Feb 11, 2026By Alice Li
Chinese medical tourists flock to Korea for dermatology ahead of Spring Festival
Companies

POSCO International's bet on energy, material, food set to pay off

Optimism is growing around POSCO International’s ability to generate meaningful revenue this year from its energy, material and food businesses, thanks to its efforts last year to complete value chains in the three core sectors. In 2025, the trade and energy subsidiary of POSCO Group posted a record operating profit of 1.165 trillion won ($795 million), keeping its operating profit above 1 trillion won for the third consecutive year. Securities analysts expect the company to sustain its growth momentum this year, citing its investments into building value chains across the energy, material and food sectors. “With annual investments of more than 1.5 trillion won, the company is expected to secure solid growth momentum,” Mirae Asset Securities analyst Ryu Je-hyun said. “Aiming to become a platform player, it will aggressively expand assets and streamline operations this year.” POSCO International’s focus on the three sectors has been attributed to an initiative from POSCO Group Chairman Chang In-hwa. “The group’s energy business should strengthen its profitability and become

Feb 11, 2026By Park Jae-hyuk
POSCO International's bet on energy, material, food set to pay off
Business

S. Korean firms urge gov't to facilitate visits to inter-Korean industrial complex

An association of South Korean companies that formerly operated at an inter-Korean factory zone in North Korea on Tuesday called on the government to make efforts to allow business owners to visit the now-shuttered complex. About 80 representatives from 38 member companies of the Corporate Association of Gaeseong Industrial Complex (CAGIC) made the request at a press conference held at the customs, immigration and quarantine (CIQ) office at Dorasan Station in Paju, just north of Seoul. The association said its members hope to reenter the Kaesong Industrial Complex, which has been closed for the past decade, to inspect their business assets there. "Ten years after the closure of the Kaesong Industrial Complex, companies that operated there are facing a threat to their survival. We want to return to Kaesong," CAGIC Chairman Cho Kyung-joo told reporters. The Park Geun-hye administration shut down the industrial complex on Feb. 10, 2016, in response to North Korea's nuclear test and long-range missile launches. Launched in 2004 as a flagship project symbolizing inter-Korean economic cooperati

Feb 10, 2026By Yonhap
S. Korean firms urge gov't to facilitate visits to inter-Korean industrial complex
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