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    Carmakers intensify rivalry in SDVs

    Global automakers are shifting the competitive battleground in Korea from traditional hardware to software-defined vehicles (SDVs), as cutting-edge operating systems and in-vehicle artificial intelligence (AI) functions emerge as key differentiators in an era of connected cars. The trend is visible, as a wave of new models launched this year are positioning advanced software capabilities as their definitive selling points. They include Hyundai Motor’s Grandeur, BMW Korea’s iX3, Toyota Motor Korea’s RAV4 and Zeekr’s 7X. Toyota is the latest carmaker to join the SDV competition. Last week, the Japanese carmaker launched its six-generation RAV4 flagship SUV built on its foundational SDV platform, Arene. Of particular note is that Toyota collaborated with LG Uplus to integrate tailored connected-car services to adapt the vehicle for the tech-savvy Korean market. The telecom operator also identifies the automotive infotainment as its next key growth driver. European and Chinese competitors are also raising the stakes with high-performance computing hardware. BMW Korea’s recently laun

    2 MIN READBy Lee Min-hyung
    Carmakers intensify rivalry in SDVs
  • Companies

    Why foreign shoppers are flocking to this Seoul lifestyle store

    2 MIN READBy Lee Kyung-min
    Why foreign shoppers are flocking to this Seoul lifestyle store
  • Companies

    Nexen Tire to supply original equipment tires to 2 BYD models

    1 MIN READBy Jhoo Dong-chan
    Nexen Tire to supply original equipment tires to 2 BYD models
  • Companies

    Hyundai Engineering files patents for AI-based leak detection system

    2 MIN READBy Jhoo Dong-chan
    Hyundai Engineering files patents for AI-based leak detection system
  • Companies

    GS E&C partners with I Squared Capital to expand renewable energy development

    2 MIN READBy Lee Gyu-lee
    GS E&C partners with I Squared Capital to expand renewable energy development
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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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Business

Gov't to double support for companies investing in far-away regions

The government is pushing to increase state support for high-tech companies investing in regions far from the Seoul metropolitan area as part of its latest efforts to promote balanced regional development, the budget ministry said Friday. The plan was unveiled during a meeting co-hosted by the Ministry of Planning and Budget and the Ministry of Trade, Industry and Resources, which also brought together representatives from key strategic industries, including semiconductors, batteries and robotics. Under the proposal, companies making investments in regions distant from the capital area could receive double the national funding for infrastructure costs in high-tech strategic industrial complexes that would normally be available to those investing in the capital and its surrounding areas, according to the ministry. The support would cover expenses for roads, water facilities and in-plant power substations, potentially easing companies' financial burdens and boosting their competitiveness, it said. A national committee, chaired by the prime minister, is expected to approve the scale of corp

Feb 6, 2026By Yonhap
Gov't to double support for companies investing in far-away regions
Companies

Hanwha Aerospace, KAI forge MOU for joint UAV, aircraft projects

Hanwha Aerospace and Korea Aerospace Industries (KAI) have tentatively agreed to pursue joint future projects under a goal to strengthen the competitiveness of Korea's defense sector, the companies said Friday. Under a memorandum of understanding (MOU) signed Thursday, the two sides plan to seek joint projects, including the development and exports of unmanned aerial vehicles (UAVs), and aircraft equipped with domestically produced engines. The partnership is expected to create strong synergies, as KAI is Korea's sole full-scale aircraft developer, while Hanwha Aerospace is the country's leading aircraft engine producer. The companies said their cooperation could extend to the development of advanced aircraft engines for future KF-21 fighter jets, as well as joint expansion into the global UAV market. Top executives from the companies will hold regular joint meetings to establish a cooperation framework aimed at reducing unnecessary competition and building a win-win growth model for Korea's aerospace and defense industry, according to the firms.

Feb 6, 2026By Yonhap
Hanwha Aerospace, KAI forge MOU for joint UAV, aircraft projects
Companies

KT&G's Q4 net falls 15.7% on reduced FX gains

KT&G, Korea's leading tobacco company, said Thursday its fourth-quarter net profit fell 15.7 percent from a year earlier, due to reduced foreign-exchange valuation gains. Net profit for the three months ended in December declined to 274.2 billion won ($186.9 million) from 325.1 billion won a year earlier, the company said in a regulatory filing. "Foreign-exchange valuation gains declined in the fourth quarter from a year earlier as the won strengthened against the dollar during the period," a company spokesperson said. The dollar stood at 1,434.90 won at the end of December, down from 1,470 won a year earlier, according to data from the Bank of Korea. A stronger won reduces the value of dollar-denominated earnings when converted into the local currency. Operating profit rose 17 percent to 248.8 billion won in the December quarter from 212.5 billion won a year earlier, while sales increased 10.1 percent to 1.71 trillion won from 1.56 trillion won. For the full year, net income fell 6.1 percent to 1.09 trillion won from 1.16 trillion won the previous year. Operating profit rose 13.5 percent

Feb 5, 2026By Yonhap
KT&G's Q4 net falls 15.7% on reduced FX gains
Companies

Korea to march into opening ceremony as 22nd country

MILAN — South Korea will be the 22nd nation to march into the opening ceremony of the Winter Olympics here in northern Italy. The organizing committee of the Milan-Cortina Olympics on Thursday unveiled the order of the parade of nations for the opening ceremony scheduled for the next day at Milano San Siro Olympic Stadium. By tradition, Greece will enter first as the home of the modern Olympic Games, while the host nation Italy will be last. France, the host of the next Winter Games in 2030, will be the penultimate nation to enter, and all the other countries in between will join the parade in the order of the host country's language. The official full name of South Korea in Italian is "Repubblica di Corea," though it will go by "Corea" for the ceremony. The country will come right after Colombia and before Croatia. South Korea will have 71 athletes competing in six sports and has set out to bring home at least three gold medals, one more than its total from the previous Winter Games in Beijing in 2022. Figure skater Cha Jun-hwan and speed skater Park Ji-woo will serve as co-flag bearer

Feb 5, 2026By Yonhap
Korea to march into opening ceremony as 22nd country
Companies

Coupang’s Rogers considers testifying over Korea’s ‘discriminatory’ practices

Coupang interim CEO Harold Rogers is considering whether to appear before the U.S. House Judiciary Committee after Republican lawmakers ordered him to testify over what they describe as Seoul’s “targeting” of the Seattle-headquartered e-commerce firm and other American companies. He was also asked to provide all records of communications between Coupang and Korean authorities. In a letter sent to Coupang's interim CEO Harold Rogers on Thursday (local time), Reps. Jim Jordan and Scott Fitzgerald requested he appear for a deposition with the committee to answer questions related to the Korean government’s targeting of Coupang and other innovative American companies. The hearing is scheduled for Feb. 23. "Over the past few months, the KFTC (Korea Fair Trade Commission) and other agencies within the Korean government have escalated their discriminatory attacks on American technology companies, including by threatening U.S. citizens with criminal charges," the letter read. "The targeting of Coupang and the potential prosecution of its American executives serve as a sharp escalation of

Feb 5, 2026By Park Jae-hyuk
Coupang’s Rogers considers testifying over Korea’s ‘discriminatory’ practices
Companies

CJ CheilJedang to cut sugar, flour prices to help curb inflation

CJ CheilJedang, a major Korean food company, said Thursday it will lower retail prices of sugar and flour products by up to 6 percent this week to help ease inflationary pressure. The company said prices of its Baeksul-brand white and brown sugar, as well as flour products, will be reduced by up to 6 percent starting Friday. "The price cuts reflect recent declines in international raw sugar and wheat prices, and are in line with the government's efforts to stabilize consumer prices," a company spokesperson said. The move is also aimed at easing household financial burdens ahead of the Lunar New Year holiday later this month, he said. CJ CheilJedang said it will notify convenience stores, discount chains and supermarkets of the price cuts Friday, adding that the timing of retail price adjustments for consumers will depend on individual retailers' decisions. Last month, the company lowered its business-to-business (B2B) prices for sugar and flour by an average of 6 percent and 4 percent, respectively. On the same day, Samyang, the country's third-largest sugar producer after CJ CheilJedang a

Feb 5, 2026By Yonhap
CJ CheilJedang to cut sugar, flour prices to help curb inflation
Tech & Science

AI-only social media in Korea draws curiosity, concern

Several online forums exclusively for artificial intelligence (AI) agents are going viral in Korea, echoing the global hype surrounding Moltbook, one of the world’s most popular communities dedicated to AI agents. The forums are drawing attention for offering a rare glimpse into how AI agents independently generate posts, communicate with one another, form relationships and even engage in philosophical debates. Industry officials caution, however, that the phenomenon should not be interpreted as evidence of AI selfhood. Instead, they say it reflects interactions among AI agents customized to individual user preferences. Experts also warn that such platforms could pose security risks if users grant agents excessive system access. Several Korean-language AI-only communities are currently operating, including Botmadang, Mersoom.com, Ingan-outside and PolyReply. Botmadang was launched by Kim Sung-hoon, CEO of AI startup Upstage, while Mersoom.com was developed by an anonymous user who claimed to have built the site in just three hours using Google Antigravity. These platforms allow users t

Feb 5, 2026By Nam Hyun-woo
AI-only social media in Korea draws curiosity, concern
Companies

FTC puts crypto exchanges under regulatory scrutiny

The Fair Trade Commission (FTC) is showing signs of tightening oversight on major cryptocurrency exchanges amid growing calls to hold them to the same regulatory standards faced by legacy financial firms. The latest in a series of investigations into the exchanges came on Wednesday, when the authority sent investigators to the headquarters of Bithumb, the second-largest crypto exchange here. The exchange operator is suspected of having engaged in false advertising regarding the scale of its liquidity. In March and April last year, Bithumb claimed in multiple press releases that its liquidity was the highest among local crypto exchanges. According to crypto data aggregator CoinGecko, however, Upbit maintained the top spot in the local market with a 68 percent share of cryptocurrency trading volume last year. Bithumb came in second with 28 percent. Given the huge gap with the exchange market leader, the FTC is now looking into whether Bithumb has violated a local advertisement act. According to the watchdog, any firms that post deceptive or exaggerated ads are subject to sanctions for undu

Feb 5, 2026By Lee Min-hyung
FTC puts crypto exchanges under regulatory scrutiny
Tech & Science

Hannover Messe to help position Korean firms as industrial AI leaders

The organizer of Hannover Messe, one of the world’s largest trade fairs, said on Thursday in Seoul that this year’s event will focus on exhibitions featuring artificial intelligence (AI), robotics and defense technologies. With HD Hyundai Electric returning for the first time in seven years, the German exhibition’s organizer also emphasized that around 70 Korean institutions and companies, including small innovative machinery and robotics firms, will join the event to explore ways to navigate rapid changes in the industrial landscape. “Korea is a country that perfectly fits into Hannover Messe,” said Hubertus von Monschaw, global director of Deutsche Messe, during a press conference. “The strong attendance and the knowledge that comes from your country are highly appreciated.” This year’s exhibition will take place from April 20 to 24 in the German city of Hanover, under the theme “Think Tech Forward.” For the first time since the annual fair began in 1947, there will be a display dedicated to manufacturing technologies for the defense sector. “Why we are looking at

Feb 5, 2026By Park Jae-hyuk
Hannover Messe to help position Korean firms as industrial AI leaders
Companies

Jipyeong launches soju gift set ahead of Lunar New Year

Jipyeong Brewery has launched a new soju gift set ahead of the upcoming Lunar New Year holiday, or Seollal, which is less than two weeks away. The set comprises two 375-milliliter glass bottles of Jipyeong Soju and two shot glasses printed with the company’s logo. Jipyeong Soju, a transparent premium distilled soju, is made from a blend of rice, barley and sugarcane. The “multilayered grains” technique is the result of the company’s focused research on distillation and fermentation over the past two years. According to the company, the method differentiates Jipyeong Soju from other distilled soju brands that use a single type of grain. “Jipyeong Soju represents Jipyeong Brewery’s signature flavor and brand identity, catering to consumers’ interest in special gifts for Seollal,” a Jipyeong Brewery official said. Jipyeong Brewery is also a major Korean "makgeolli" (lightly sparkling rice wine) producer. It operates two manufacturing plants in Gangwon Province and South Chungcheong Province. The company’s small-scale founding brewery in Jipyeong Village, Yangpyeong County,

Feb 5, 2026By Ko Dong-hwan
Jipyeong launches soju gift set ahead of Lunar New Year
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