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Korea establishes world's 1st standards for SDVs

Korea has established the world's first international standards for software-defined vehicles (SDV), the science ministry said Thursday. A recommendation and technical report co-developed with the science ministry and two local telecommunication research institutes were adopted at the ITU-T study group held in Geneva, Switzerland, last month, the ministry said. The event is one of the global expert assemblies organized by the International Telecommunication Union (ITU). SDV refers to vehicles whose core features and performances are managed and updated like smartphone software. The concept is considered a key foundational concept for next generation vehicles. The newly established recommendation will provide technical standards for SDV development. The latest report will provide a common knowledge base when governments formulate policies on SDVs or when companies set directions for technological development, the ministry explained. The newly adopted standards are expected to be used in some 194 ITU member countries.

Aug 6, 2026By Yonhap
Korea establishes world's 1st standards for SDVs
Companies

Samsung Electronics settles patent dispute with Netlist through 5-year licensing deal

Samsung Electronics has settled a patent dispute with U.S. chip firm Netlist Inc. by signing a five-year agreement to license Netlist's memory chip patents, Netlist said Thursday. Under the agreement, Samsung Electronics will gain access to Netlist's patent portfolio, including technologies related to server dual in-line memory modules (DIMMs) and high-bandwidth memory (HBM) used in artificial intelligence (AI) servers and high-performance computing systems. Netlist, a Delaware-based company, develops advanced memory and storage technologies, including server memory and HBM solutions for AI computing. "We're excited to renew this partnership and look forward to working closely with Samsung," Netlist CEO C.K. Hong said. "These strategic agreements reflect the companies' shared commitment to innovation in the AI-memory space and validate the value of Netlist's intellectual property." As part of the strategic alliance, Samsung will also purchase 10 million Netlist shares under a separate memory product supply agreement. The two companies agreed to settle and mutually end all pending legal ac

Aug 6, 2026By Yonhap
Samsung Electronics settles patent dispute with Netlist through 5-year licensing deal
Companies

HD Construction Equipment expands renewable power deals to meet 2040 clean energy target

HD Construction Equipment said Thursday it has signed power purchase agreements totaling 12.4 megawatts-peak with multiple renewable energy generators for its plant in Incheon, part of a broader push to source all its electricity from renewable sources by 2040. A power purchase agreement is a long-term contract in which a company buys electricity directly from a renewable energy producer, such as a solar or wind farm, often at a fixed price. Under the new agreements, the Incheon plant's share of renewable electricity is set to more than double, from 19 percent to 43.9 percent, by January 2027. The company's plants in Ulsan and Gunsan are expected to reach 42 percent and 53.1 percent renewable electricity, respectively, over the same period. Company-wide, renewable electricity use across HD Construction Equipment's Korean plants is projected to rise from 22 percent currently to 40.3 percent, a shift the company said would cut annual greenhouse gas emissions by 22,155 tons — equivalent to the carbon absorbed by roughly 3.36 million 30-year-old pine trees. The company became the first in

Aug 6, 2026By Jhoo Dong-chan
HD Construction Equipment expands renewable power deals to meet 2040 clean energy target
Companies

Korean App Store spending topped $26.8 bil. in 2025: Apple

Billings and sales generated through its Korean App Store ecosystem reached roughly 38.1 trillion won ($26.8 billion) in 2025, more than double the figure from five years earlier, Apple said Thursday, citing a new study by Seoul National University professor Michael Lim and Analysis Group's Juliette Caminade. More than 90 percent of that total involved no commission paid to Apple, accruing instead to developers and businesses of all sizes. Small developers saw their revenue grow 85 percent over the past five years. "Korean developers exemplify what the App Store has stood for from the beginning," Apple CEO Tim Cook said, citing their ability to turn strong ideas into successful businesses. The Korean App Store drew nearly 12 million weekly visitors on average in 2025, with iOS users in Korea downloading apps almost 670 million times over the year. Physical goods and services accounted for about 32.3 trillion won of billings, digital goods and services about 3.7 trillion won, and in-app advertising about 2.1 trillion won, the study found. Travel led growth in physical goods, while mobile

Aug 6, 2026By Jhoo Dong-chan
Korean App Store spending topped $26.8 bil. in 2025: Apple
Companies

Hanwha moves up 2026 Seoul Fireworks Festival to early September

Hanwha Corp. will hold the Seoul International Fireworks Festival on Sept. 5, more than three weeks earlier than last year, the company said Thursday, citing the Chuseok holiday and demand from foreign tourists as reasons for the shift. The festival, held annually at Yeouido Hangang Park along the Han River since 2000, ran on Sept. 27 last year. Hanwha moved this year's date to early September to avoid overlapping with Chuseok, Korea's autumn harvest holiday and one of its biggest travel periods, and to better align with the tourist season, the company said. Fireworks teams representing Korea, the United States and Britain will take part this year, each showcasing techniques distinct to their respective countries. Hanwha said it is stepping up safety measures for the event, deploying a record 4,700 safety and crowd control personnel, including 1,200 company employee volunteers, across the festival's eve and the main event day. The company will also use "Orange Safety," a real-time crowd-density monitoring tool developed with mobile carriers, to help manage crowd flow, along with CCTV came

Aug 6, 2026By Jhoo Dong-chan
Hanwha moves up 2026 Seoul Fireworks Festival to early September
Companies

Korean diagnostics firm Noul signs 1st cervical cancer screening deal in Africa

Noul, a Seoul-based developer of artificial intelligence (AI)-powered blood and cancer diagnostic devices, has signed a supply agreement with a medical device distributor in East Africa to provide its cervical cancer screening and blood analysis solutions to four Indian Ocean island nations: Mauritius, Madagascar, Seychelles and Comoros, the company said Thursday. The deal marks the company's first sale of a cervical cancer diagnostic product in Africa, where its business had previously centered on malaria testing. Noul said the agreement signals an expansion into higher-value cancer diagnostics on the continent. The company will supply its miLab CER cervical cancer screening device and miLab BCM blood analysis device under the deal. Both are built on Noul's miLab platform, an all-in-one, point-of-care testing device that automates the full process of a microscope-based diagnosis — from preparing and staining a sample to digital imaging and AI-based analysis — and delivers lab-grade results in under 15 minutes, according to the company. Noul said the island nations targeted in the dea

Aug 6, 2026By Jhoo Dong-chan
Korean diagnostics firm Noul signs 1st cervical cancer screening deal in Africa
Tech & Science

LinqAlpha names financial veteran John Chang to board

LinqAlpha, an AI-powered investment research platform, said Wednesday that it appointed global investment banking veteran John Chang as a member of its board of directors. Chang is a financial industry veteran with more than 25 years of experience in global capital markets. He previously served as the Korea country head at Barclays and held senior leadership roles for the Asia-Pacific region at Deutsche Bank. He currently serves as co-founder and general partner of cross-border venture capital firm Access Ventures, where he focuses on investing in global technology companies and fostering startup ecosystems. According to LinqAlpha, Chang has served as the company's strategic adviser since last year, helping expand partnerships with global financial institutions and shape its international business strategy. With his appointment, the company said it will accelerate the execution of its global growth strategy at the board level. "LinqAlpha combines outstanding AI technology with strong execution capabilities to transform investment research and due diligence for institutional investors,"

Aug 6, 2026By Lee Yeon-woo
LinqAlpha names financial veteran John Chang to board
Companies

T'way Air rebrands as Trinity Airways following acquisition

Korean budget carrier T'way Air said Thursday it has rebranded as Trinity Airways, following its acquisition by leisure conglomerate Sono Trinity Group. Sono Trinity, which was renamed from Daemyung Sono Group in May, acquired a 46 percent stake in T'way Air for 250 billion won ($176.4 million) in February 2025, becoming the airline's largest shareholder. The rebranding was approved at a shareholders meeting in March and subsequently received approval from Korean aviation authorities, marking the airline's first name change in 16 years. The airline said it will offer more customized services, including upgraded in-flight services and a new mileage program linked to the group's travel and hospitality businesses. Sono Trinity operates hotels and resorts at around 20 locations in Korea and another 20 overseas. The airline currently operates 58 international routes, including 30 to Southeast and Northeast Asia, 18 Japanese destinations, five cities in Europe, three for Russia and Central Asia, and one each to the Americas and Oceania.

Aug 6, 2026By Yonhap
T'way Air rebrands as Trinity Airways following acquisition
Business

Korea, Czech Republic agree to expand air routes

Korea and the Czech Republic have agreed to increase bilateral passenger air traffic rights to up to 10 flights per week, the transport ministry said Thursday. The agreement was reached during aviation talks held in Prague last week, expanding passenger traffic rights between the two countries from seven weekly flights to 10. Currently, Korean Air operates four weekly flights between Incheon and Prague, while Asiana Airlines operates three weekly flights on the route. The ministry said the latest expansion reflects growing travel demand between the two countries. The two sides had previously increased traffic rights from four weekly flights to seven in 2024. In March, Korea also agreed to significantly expand bilateral air traffic rights with Hungary, increasing weekly flights from six to 14, and with Austria, from four to 21.

Aug 6, 2026By Yonhap
Korea, Czech Republic agree to expand air routes
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