my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    LG Electronics' Tennessee plant tops 10 mil. units in cumulative production

    LG Electronics’ Tennessee plant surpassed 10 million units in cumulative production, playing a pivotal role in helping the company secure the top spot in the U.S. laundry appliance market. The company said Sunday it held a ceremony to congratulate the production of the 10 millionth unit at the plant participated by local officials and LG Electronics executives. LG Electronics built its Tennessee plant on a 1.25 million-square-meter site in Clarksville, Tennessee in 2018. Since then, the company has invested approximately $500 million in expanding facilities and improving manufacturing processes. The plant began producing washing machines in November 2018, followed by dryers in 2022 and wash towers in 2023. Its annual production capacity now stands at 2.25 million units, more than four times its 2019 level, comprising 1.55 million washing machines and 700,000 dryers. The expansion has established the plant as LG Electronics’ key local manufacturing and supply hub. LG Electronics’ washing machines and dryers accounted for 17.2 percent and 17.4 percent of the U.S. market, respectively

    2 MIN READBy Nam Hyun-woo
    LG Electronics' Tennessee plant tops 10 mil. units in cumulative production
  • Companies

    SK chairman calls for AI expansion beyond chips into models, services

    2 MIN READBy Ko Dong-hwan
    SK chairman calls for AI expansion beyond chips into models, services
  • Business

    HD Hyundai launches autonomous vessel developed with Anduril

    1 MIN READBy Yonhap
    HD Hyundai launches autonomous vessel developed with Anduril
  • Companies

    Kia's domestic electrified vehicle sales top 300,000 units in 2026

    1 MIN READBy Yonhap
    Kia's domestic electrified vehicle sales top 300,000 units in 2026
  • Companies

    Audi Korea accelerates recovery on solid sales of redesigned A6

    2 MIN READBy Lee Min-hyung
    Audi Korea accelerates recovery on solid sales of redesigned A6
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

HD Hyundai partners with Canadian university in bid for submarine contract

HD Hyundai signed a research and development agreement with the University of British Columbia (UBC) as part of a broad campaign to win Canada's planned submarine procurement contract, the Korean shipbuilding conglomerate said Wednesday. HD Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding arm of HD Hyundai, signed the memorandum of understanding with the university on Sunday (local time) at the university's Vancouver campus. The agreement covers joint research into advanced digital and artificial intelligence-based ship design, digital twin simulation, autonomous navigation systems and next-generation naval vessel structures, including destroyers, unmanned ships and submarines. The two parties will also collaborate on eco-friendly advanced materials for warships and commercial vessels. The signing ceremony was attended by Jang Gwang-pil, vice president of HD KSOE's Future Technology Research Institute; James Olson, dean of applied science at the university; Mark MacLachlan, dean of science at the university; and Orlando Rojas, scientific director of the Bioproducts Ins

Jun 10, 2026By Jhoo Dong-chan
HD Hyundai partners with Canadian university in bid for submarine contract
Companies

GM’s next big bet: Turning EVs into power plants on wheels

General Motors is pushing the car beyond its form, unveiling a strategy that could transform electric vehicles into active participants in the energy grid and expand the company’s role in the rapidly evolving power economy. At its GM Empower event held in San Francisco, Monday (local time), GM outlined a sweeping vision for an integrated energy ecosystem connecting electric vehicles, homes, public charging networks and large-scale energy storage systems. The announcements centered on vehicle-to-grid, or V2G, technology, which allows electric vehicles to send electricity back to the grid and function as distributed energy resources during periods of high demand. Sterling Anderson, GM’s executive vice president of global product and chief product officer, said the world is approaching a turning point in how mobility, computing and energy infrastructure intersect. “GM is working to help reduce pressure on the grid by leveraging both grid-scale energy storage and distributed energy resources powered by electric vehicles,” he said. The company also introduced Energy Pass, a new service

Jun 10, 2026By Lee Kyung-min
GM’s next big bet: Turning EVs into power plants on wheels
Companies

Netflix to launch TikTok-style video feed Clips in Korea

Netflix unveiled a series of updates to its streaming platform for members in the Asia-Pacific (APAC) region, including the introduction of a vertical video feed and new games for kids, featuring characters from the hit animation, "KPop Demon Hunters." "In July, members in Korea and Japan will experience the next chapter of our mobile experience, including a redesigned homepage with enhanced navigation and vertical video called Clips," Elizabeth Stone, the chief product and technology officer at Netflix, said at a press event with media from APAC countries. Netflix's "Clips" function is a TikTok-style video feed, designed to help members discover new contents on the platform. The feature, which is only available on mobile devices, was rolled out in April in countries such as India, Australia and New Zealand. "We're particularly excited to bring this to APAC, where we know many of our audiences experience Netflix on their mobile devices every day," she said. The U.S. video streaming giant is also adding a collection of mini games for children, featuring characters from the globally popular

Jun 10, 2026By Yonhap
Netflix to launch TikTok-style video feed Clips in Korea
Banking & Finance

Woori Bank launches integrated services for Mongolian nationals

Woori Bank has partnered with telecommunications provider KT and Mongolia's Trade and Development Bank (TDB) to offer integrated financial services for Mongolian nationals preparing to move to Korea, the bank said Wednesday. The three parties signed a memorandum of understanding (MOU) at KT's headquarters in central Seoul. The partnership is designed to support Mongolian workers and students from the pre-arrival stage through their settlement in Korea, providing access to financial and mobile services. Under the agreement, TDB will introduce customers in Mongolia who plan to use Woori Bank's overseas remittance services and KT's mobile network after arriving in Korea. Those customers may receive preferential terms on selected TDB loan and deposit products before departure. After arriving in Korea, Woori Bank will help the Mongolian nationals open remittance accounts at the bank's foreigner-focused branches. It will also provide preferential exchange rates and reduced overseas remittance fees. KT, meanwhile, will offer its lowest price-tier mobile plan and allow customers to link their mo

Jun 10, 2026By Lee Hyo-jin
Woori Bank launches integrated services for Mongolian nationals
Banking & Finance

Finda, Upstage team up to build finance-focused agentic AI platform

Fintech platform Finda has signed a memorandum of understanding with artificial intelligence (AI) startup Upstage to jointly develop an agentic AI platform tailored to financial services, the company said Wednesday. The partnership will combine Finda's financial expertise and proprietary data with Upstage's large language model (LLM) technology to develop AI agents designed for use across financial institutions. Under the agreement, Finda will provide financial domain data, support model fine-tuning through direct preference optimization (DPO) labeling, deploy financial specialists for user acceptance testing and advise on regulatory and compliance matters. Upstage will lead the development of finance-specific AI models based on its proprietary LLM Solar, while also building an agent training platform. The company is set to oversee the design, development and testing of the AI agents, as well as platform implementation and project management. The two parties also plan to explore new business opportunities for AI agents in financial services and collaborate on marketing and promotional ac

Jun 10, 2026By Park Han-sol
Finda, Upstage team up to build finance-focused agentic AI platform
Companies

Baskin-Robbins bets on AI to answer franchisees’ questions in real time

Baskin-Robbins franchise owners in Korea may soon have a new source of support for everything from product launches to store operations: an artificial intelligence (AI) chatbot designed to answer questions instantly. Hyundai Futurenet, the information and communications technology arm of Hyundai Department Store Group, said Wednesday it had signed a contract with BR Korea, the operator of Baskin-Robbins in Korea, to supply an AI assistant service for stores, with deployment scheduled within the year. The mobile-based chatbot is designed for franchise owners and store employees seeking quick answers related to day-to-day operations. Users can type questions into a chat interface and receive immediate responses, mimicking a natural conversation, the company said. The service will provide information ranging from newly launched products and promotional events to operational manuals and workplace guidelines, according to Hyundai Futurenet. The chatbot is being developed using OptiForce, Hyundai Futurenet’s integrated AI platform. The company said OptiForce is designed to understand the conte

Jun 10, 2026By Lee Kyung-min
Baskin-Robbins bets on AI to answer franchisees’ questions in real time
Tech & Science

Samsung SDS partners with AI security firms to boost cloud protection

Samsung SDS is partnering with U.S.-based artificial intelligence (AI) security startup XBOW and Korean cloud security firm Tatum Security to strengthen its AI-powered cloud security capabilities. The company said Wednesday that the partnerships with specialized AI security firms at home and abroad will enhance its end-to-end cloud security framework, spanning vulnerability detection, integrated monitoring and incident response, helping its customers adopt and operate AI and cloud environments more securely. “Through collaboration with advanced security startups at home and abroad, we have built a comprehensive cloud security framework covering prevention, monitoring and recovery,” said Chang Yong-min, head of Samsung SDS’ security business unit. “By combining advanced global technologies, locally tailored solutions and Samsung SDS’ operational expertise, we will proactively address the growing wave of security threats driven by enterprise AI adoption.” Through its partnership with XBOW, Samsung SDS will expand AI-based vulnerability detection for web-based IT assets. Founded

Jun 10, 2026By Lee Gyu-lee
Samsung SDS partners with AI security firms to boost cloud protection
Companies

Samsung tops global chipmakers with nearly $59.2 bil. in investment

Samsung Electronics spent nearly 90 trillion won ($59.2 billion) on capital expenditures and research and development (R&D) in 2025, making it the biggest investor among the world's top 10 semiconductor companies, industry data showed Wednesday. The Korean tech giant invested 89.9 trillion won, comprised of 52.2 trillion won in capital expenditures and 37.7 trillion won, in R&D last year, according to data compiled by corporate tracker CEO Score. Samsung's investment far exceeded that of second-ranked Taiwanese semiconductor giant TSMC, which spent 69.4 trillion won. Despite a sharp decline in earnings in 2023 due to a downturn in the chip industry, Samsung Electronics continued to increase investment. Its operating profit fell 84.9 percent on-year to 6.57 trillion won in 2023, but the company invested 88.9 trillion won that year, more than 13 times its operating profit. Industry observers say Samsung's aggressive spending during the semiconductor downturn helped lay the groundwork for the industry upcycle that began gaining momentum last year. "Given the nature of the semiconductor indust

Jun 10, 2026By Yonhap
Samsung tops global chipmakers with nearly $59.2 bil. in investment
Companies

BYD to debut signature hybrid vehicle technology at Busan Int'l Mobility Show

BYD Korea will showcase its proprietary hybrid vehicle technology at the Busan International Mobility Show 2026, stepping up its campaign to win over consumers in one of Asia’s most competitive auto markets. The Chinese electric vehicle (EV) giant plans to unveil its Dual Mode-intelligent (DM-i) eco-friendly technology at the exhibition, which runs from June 26 to July 5 at the BEXCO convention center. Operating under the theme “The Power of Duality,” the showcase is designed to highlight the company's dual focus on its established commercial vehicle lineup — now in its 10th year in Korea — and its rapidly expanding passenger vehicle division. BYD’s aggressive push into Korea comes as the brand hits a key milestone, recently surpassing 10,000 cumulative vehicle sales in the country. The company noted that the figure represents one of the fastest sales trajectories achieved by a foreign auto brand in Korea. Central to BYD's strategy is its DM-i system, an “electric-first hybrid” platform developed over 18 years that pairs a high-efficiency engine with a high-performance m

Jun 10, 2026By Lee Kyung-min
BYD to debut signature hybrid vehicle technology at Busan Int'l Mobility Show
Companies

SKT, NTT, Chunghwa Telecom to jointly launch $500 mil. AI fund

SK Telecom said Wednesday it will establish a $500 million artificial intelligence (AI) investment fund with Japan's NTT and Taiwan's Chunghwa Telecom, marking a cross-border push by three of East Asia's largest telecommunications companies to jointly develop the global AI ecosystem. The three companies announced the plan at a joint press conference at NTT's headquarters in the Otemachi business district of Tokyo. The fund, called the IOWN AI Fund — named after NTT's Innovative Optical and Wireless Network initiative — will be managed through a newly incorporated fund management company called Catalight Capital, jointly established by the three telecom companies and based across Silicon Valley and East Asia. The fund is expected to reach $500 million in total commitments and will target startups and technology companies in North America, Asia and Europe across five areas: AI data center infrastructure, such as power efficiency optimization and liquid cooling; AI semiconductors, including accelerators, graphics processing units and neural processing units; AI service applications in

Jun 10, 2026By Jhoo Dong-chan
SKT, NTT, Chunghwa Telecom to jointly launch $500 mil. AI fund
previous page
210211212213214
next page

Most Read in Business