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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

    Hanwha Aerospace receives A- issuer credit rating from S&P

    2 MIN READBy Lee Min-hyung
    Hanwha Aerospace receives A- issuer credit rating from S&P
  • Tech & Science

    OpenAI lands Samsung as major ChatGPT Enterprise customer

    2 MIN READBy Lee Gyu-lee
    OpenAI lands Samsung as major ChatGPT Enterprise customer
  • Companies

    Inside the net-zero push uniting Korea's tire and auto parts giants

    2 MIN READBy Lee Kyung-min
    Inside the net-zero push uniting Korea's tire and auto parts giants
  • Companies

    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years

    2 MIN READBy Ko Dong-hwan
    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years
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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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Companies

TEST DRIVE Peugeot aims for major turnaround with 5008 hybrid SUV

GIMPO, Gyeonggi Province — The third-generation Peugeot 5008 family SUV has made a striking return with a lively yet composed driving feature that sets the vehicle apart from its rivals. After a decade, the vehicle has undergone a complete overhaul. Stellantis Korea hopes to jump on the booming SUV bandwagon by making the three-row family car its most strategic lineup this year. Peugeot has balanced the essentials of a large family SUV — flexible seating, usability and reasonable fuel efficiency — with a sense of refinement and unique driving dynamics. When the vehicle was taken for a round-trip drive between Gimpo and Incheon, with a distance of some 60 kilometers, the 5008 SUV dispelled the perception that a vehicle of this size would be relatively weak in responsiveness, compared to smaller, more typical sedans. However, the vehicle constantly delivered a breezy driving feel, powered largely by its well-balanced hybrid system. The 5008 SUV is equipped with a 1.2-liter PureTech gasoline engine with a 48-volt hybrid system. This setup allows the SUV to operate in electric-only mode

Feb 4, 2026By Lee Min-hyung
[TEST DRIVE] Peugeot aims for major turnaround with 5008 hybrid SUV
Companies

Hanwha Aerospace proposes ground defense solutions to Canadian minister

Hanwha Aerospace, a Korean defense company, proposed an integrated ground defense solution to Canada's defense procurement minister during his visit to the company's production facilities on Tuesday, the company said. Stephen Fuhr, Canada's secretary of state for defense procurement, visited Hanwha Aerospace's plants in Changwon, South Gyeongsang Province, following a visit to Hanwha Ocean's shipyard in Geoje, South Gyeongsang Province, the previous day. The visit was aimed at assessing Korea's defense industry capabilities ahead of Canada's large-scale military modernization program known as the indirect fire modernization (IFM) initiative, the company said. Canada plans to deploy about 250 infantry fighting vehicles in its army by 2030, six years earlier than originally scheduled. The Canadian delegation, consisting of about 30 members led by Fuhr, toured production lines for the K9 self-propelled howitzers and the Chunmoo multiple rocket launcher system (MRLS), and observed live mobility demonstrations of the K9, the Redback armored fighting vehicle and the K21 infantry fighting vehic

Feb 3, 2026By Yonhap
Hanwha Aerospace proposes ground defense solutions to Canadian minister
Companies

OB showcases premium beer as fine-dining partner

Major Korean beer company Oriental Brewery (OB) on Tuesday demonstrated how a premium beer can complement fine dining experiences, challenging the belief high-end cuisines only pair well with alcohols like wine or spirits. The company hosted a food tasting event at Some Chavit on the Han River in Seoul, featuring Stella Artois, a popular Belgian beer brand imported by OB. To highlight the beer’s pairing potential, OB adopted a show-style concept inspired by Netflix’s hit cooking competition series “Culinary Class Wars," which concluded its second season last month amid strong viewership. The event consisted of two parts. First, bartender Jo Yeong-jun demonstrated Stella Artois’ “Perfect Serve” using the brand’s beer tap. Jo won Stella Artois’ Perfect Serve international competition in London last year. The program is promoted globally by the brand and follows a prescribed series of steps designed to deliver the beer at its optimal taste. Jo performed the Perfect Serve ritual in five steps. After the preparation stage, in which the chalice is kept chilled, the sacrifice s

Feb 3, 2026By Ko Dong-hwan
OB showcases premium beer as fine-dining partner
Tech & Science

LG Innotek to unveil advanced automotive lighting products in Germany

LG Innotek is set to unveil a wide range of advanced automotive lighting technologies at this year’s Driving Vision News (DVN) Lighting Workshop in Germany. The company announced on Tuesday that it will attend the event in Munich, scheduled for Wednesday and Thursday (local time), and introduce its latest lineup of automotive lighting modules, Nexlide. Based in France, DVN is an intelligence platform for industry professionals in automotive lighting, interior, sensing and applications. Its annual Lighting Workshops, held across various regions globally, bring together global automakers, top-tier suppliers, academics and government officials to discuss key industry issues and share the latest technology trends. The company will showcase Nexlide Air, an ultra-lightweight silicone-based light product optimized for bumpers and grilles, and Nexlide Pixel, which dramatically improves resolution by reducing lighting pixel size to 2 millimeters by 2 millimeters, the smallest yet developed. Nexlide Pixel won an Innovation Award at CES 2026. Nexlide Pixel enables high-definition displays through

Feb 3, 2026By Lee Gyu-lee
LG Innotek to unveil advanced automotive lighting products in Germany
Companies

Korea's inheritance taxes get blame for world's 4th-largest millionaire exodus

Korea has emerged as one of the countries experiencing the world’s largest outflow of wealthy individuals, in part due to its rigid inheritance tax system. A recent analysis by British consultancy Henley & Partners showed Tuesday that the net outflow of Korean millionaires last year was estimated at 2,400, double the 1,200 recorded in 2024. The figure was the fourth largest globally, following the United Kingdom, China and India. “Korea’s inheritance tax rate of up to 60 percent may have been the main factor accelerating the migration of capital,” a Korea Chamber of Commerce and Industry (KCCI) official said. With the National Assembly having suspended discussions on legislation to ease the world’s highest inheritance tax rate, the business association forecast that Korea’s inheritance tax revenue could reach 35.8 trillion won ($25 billion) by 2072, up from 9.6 trillion won in 2024. That projection stems from a steady increase in those subject to inheritance taxes, caused by repeated delays in legal revisions and the rising number of people dying at older ages. “Heavy inheri

Feb 3, 2026By Park Jae-hyuk
Korea's inheritance taxes get blame for world's 4th-largest millionaire exodus
Companies

Low-cost coffee chain The Venti opens 1st outlet in Middle East

SNC Sein, the operator of Korean low-cost coffee brand The Venti, said Tuesday it has opened its first outlet in the Middle East as part of its overseas expansion strategy. The company said the outlet, located in Amman, the capital of Jordan, has initially introduced seven localized menu items out of 11 planned offerings. "We plan to expand into other Middle Eastern markets based on our experience in Jordan," the company said. SNC Sein currently operates four The Venti outlets in Canada and one in Vietnam, in addition to around 1,600 stores in Korea. The company also plans to enter the U.S. market by opening its first outlet in Las Vegas later this year.

Feb 3, 2026By Yonhap
Low-cost coffee chain The Venti opens 1st outlet in Middle East
Tech & Science

Chip guru introduces high-bandwidth flash road map for AI inference

Professor Kim Joung-ho of the Korea Advanced Institute of Science and Technology (KAIST), known for devising the basic structure of high-bandwidth memory (HBM), introduced a road map for high-bandwidth flash (HBF), a next-generation chip architecture for high-performance storage that will be critical for artificial intelligence (AI) inference. “So far, graphics processing units (GPUs) have played a central role in AI computing, but going forward, memory will become even more important than GPUs,” Kim said during a press conference in Seoul on Tuesday. “After years of research, HBM has been commercialized successfully and is now driving the AI era. With HBF, we aim to make another leap forward and lead the AI era through memory-centric computing.” Memory, mostly dynamic random-access memory (DRAM) chips, serves as a fast, temporary and volatile workspace for active data and applications. Storage, largely based on NAND flash, functions as a non-volatile repository, retaining files and apps at larger capacity but slower speeds. The importance of NAND flash has been rising rapidly in

Feb 3, 2026By Nam Hyun-woo
Chip guru introduces high-bandwidth flash road map for AI inference
Banking & Finance

Stock trading fever grips Koreans morning and night in bull market

Lim, a 40-year-old office worker living in Incheon, recently increased his stock trading activity in pre- and after-hours markets amid a sharp rally in domestic shares. “Before heading to work, I buy stocks in the premarket that react to overnight moves in U.S. markets and major news. After work, I review earnings-related stocks in the after-hours market,” he said. “My response speed has become much faster than when I invested only during regular trading hours.” Online investment communities also suggest that off-hours trading has become routine. One user recently posted that he made short-term gains by buying SK hynix shares in the after-hours market immediately after the company released its earnings results, which sent the stock sharply higher. “Even if a stock has already risen significantly during regular trading, after-hours markets allow you to react quickly when you believe there is still upside potential,” the user wrote. As Korea’s stock market surged past the 5,000-point mark on the benchmark KOSPI and the 1,000-point level on the tech-heavy secondary Kosdaq bour

Feb 3, 2026By Jun Ji-hye
Stock trading fever grips Koreans morning and night in bull market
Companies

Coupang users drop 3.2% in January after data breach

Coupang's monthly active users (MAU) fell 3.2 percent from a month earlier in January, following a large-scale data breach disclosed late last year, industry data showed Tuesday. Coupang's MAU came to 33.19 million last month, down 3.2 percent, or 1.1 million, from the previous month, according to the data by market tracker Wiseapp Retail. The on-month decline was far sharper than the 0.3 percent decrease recorded in December. In January, Coupang provided discount vouchers worth 50,000 won ($34.5) to affected users as compensation for the data breach, which was revealed in late November and impacted its 33.7 million user base. Other leading e-commerce platforms, such as China's AliExpress and Temu, as well as South Korea's 11Street, also saw slight declines in user activity in January, with their MAUs falling 1.3 percent, 0.3 percent and 0.9 percent, respectively. Meanwhile, Naver Plus Store, an online shopping platform operated by internet giant Naver, posted 7.1 million MAUs in January, up 10 percent from 6.4 million a month earlier, ranking fifth among e-commerce platforms.

Feb 3, 2026By Yonhap
Coupang users drop 3.2% in January after data breach
Business

K-Pass expands nationwide starting Wednesday

K-Pass, a state-run fare discount program for public transit users, will be rolled out nationwide on Wednesday. K-Pass coverage to all municipalities comes as 11 local governments that had been delaying the introduction of the program to their local residents agreed Tuesday with the Metropolitan Transport Commission (MTC) to launch the program. The commission, which is under the Ministry of Land, Infrastructure and Transport, oversees K-Pass. The 11 local governments are in South Jeolla and North Gyeongsang provinces, including the counties of Jindo, Wando, Cheongsong, Bonghwa and Ulleung Island. First introduced in May 2024 for subways, buses and the high-speed subway system GTX in Seoul and Gyeonggi Province, K-Pass provides refunds of 20 to 53 percent of public transit fares, depending on users’ age groups and regions of residence. Foreigners with identification numbers are also eligible for the service. This year the authority further improved the discount benefits by introducing additional upper-limit standards that vary by users’ family status and regions of residence. Any amou

Feb 3, 2026By Ko Dong-hwan
K-Pass expands nationwide starting Wednesday
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