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  • Tech & Science

    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm

    Samsung Electro-Mechanics will supply multilayer ceramic capacitors (MLCCs) for artificial intelligence (AI) servers to a U.S. Big Tech firm, signing a $294 million (454 billion won) contract. The company said in a regulatory filing Tuesday that it has signed a one-year supply deal that will begin on Jan. 1 next year. The company did not identify the customer, but sources said it is a U.S. cloud service provider. The deal accounts for approximately 9 percent of the component division's 2025 revenue of 5.2 trillion won. MLCC is a component that stabilizes power for semiconductors and other electronic devices. As power fluctuations in servers can directly affect performance, MLCCs have become increasingly important in AI server environments. AI server applications require high-performance MLCCs that can withstand the harsh operating conditions created by intensive computing workloads, such as high heat and greater stress for warpage. AI servers contain more than 10 times as many MLCCs as conventional servers. A typical AI graphics processing unit is equipped with more than 20,000 MLCCs, mea

    2 MIN READBy Nam Hyun-woo
    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm
  • Companies

    Chinese EV makers gain traction in Korea's import car market despite uphill battle

    3 MIN READBy Yulu Ao
    Chinese EV makers gain traction in Korea's import car market despite uphill battle
  • Companies

    Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion

    2 MIN READBy Nam Hyun-woo
    Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion
  • Companies

    Hyundai Motor set to open advanced service center in Gyeonggi Province

    2 MIN READBy Yonhap
    Hyundai Motor set to open advanced service center in Gyeonggi Province
  • Banking & Finance

    Winners of the 22nd Economic Essay Contest

    2 MIN READBy Lee Yeon-woo
    Winners of the 22nd Economic Essay Contest
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APEC 2025

APEC CEO Summit opens in Gyeongju with high-profile welcome dinner

GYEONGJU, North Gyeongsang Province — The Asia-Pacific Economic Cooperation (APEC) CEO Summit, the largest business forum in the Asia-Pacific region, began with a high-profile dinner on Tuesday in the historic city of Gyeongju. The summit, hosted by the Korea Chamber of Commerce and Industry (KCCI), gathers leaders from APEC member economies, which account for 61 percent of global GDP, alongside CEOs from the world’s most influential companies. The summit will run until Friday. The opening event of the four-day summit set the stage for high-level dialogue on trade, innovation and sustainable growth, bringing together Prime Minister Kim Min-seok, Trade Minister Yeo Han-koo, government officials and senior executives from major conglomerates, including Samsung Electronics, SK On, Hyundai Motor, LG Electronics, HD Hyundai, GS Group, POSCO Group, KB Financial Group, Korean Air, CJ Group and Naver. U.S. Ambassador to China David Perdue, Peruvian Ambassador to Korea Paul Fernando Duclos Parodi, Malaysian Ambassador to Korea Dato Mohd Zamruni bin Khalid and Philippine Ambassador to Korea B

Oct 28, 2025By Lee Gyu-lee
APEC CEO Summit opens in Gyeongju with high-profile welcome dinner
APEC 2025

Korea set to drive next wave of AI progress as global benchmark

GYEONGJU, North Gyeongsang Province — Korea stands ready to lead as a global testbed for tackling critical artificial intelligence (AI) bottlenecks, as the nation navigates a pivotal moment where rapid AI advancements are redefining the global technological order and ushering in a new era of innovation, according to SK Group Chairman Chey Tae-won on Tuesday. At the Future Tech Forum Series talk on AI, held in Gyeongju as a side event for the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Chey, who is also chairman of the Korea Chamber of Commerce and Industry (KCCI), said that Korea has the potential to address emerging barriers and polarization in AI development. “We’re now shifting from the reasoning AI era to the age of agentic AI … With rapid development and change, these advances are bound to create bottlenecks around the world, whenever a breakthrough or adequate supply falls short,” Chey said during his opening remarks. “Korea, with its proven ability to adapt quickly to new challenges, can become a testbed for solving these bottlenecks, as we’ve shown in the

Oct 28, 2025By Lee Gyu-lee
Korea set to drive next wave of AI progress as global benchmark
Tech & Science

PHOTO Samsung tri-fold phone at APEC 2025

Attendees view Samsung Electronics’ tri-fold phones at the K-Tech Showcase, a side event of the Asia-Pacific Economic Cooperation (APEC) 2025 meetings in Gyeongju, North Gyeongsang Province, Tuesday. The phone on the left is shown folded, while the other is unfolded. Samsung Electronics unveiled the smartphone for the first time during the APEC 2025 meetings and plans to release it by the end of this year. Yonhap

Oct 28, 2025By Nam Hyun-woophoto
[PHOTO] Samsung tri-fold phone at APEC 2025
Banking & Finance

Banks expand IP-backed loans in line with K-culture promotion drive

Major commercial banks are accelerating the expansion of intellectual property (IP)-backed lending, offering financing secured by assets such as copyrights and patents, in line with President Lee Jae Myung’s recent push to promote Korean culture, industry officials said Tuesday. These loans, based on companies’ technologies and creative content, align with the Lee administration’s goal of fostering productive finance, which seeks to redirect funds previously tied to real estate or dependent on interest income toward advanced industries. At the same time, banks are building mutually beneficial ties with the content industry to enhance brand visibility through partnerships with popular K-dramas and webtoons, amid Korean culture’s growing global influence and commercial appeal. By September, the total outstanding balance of IP-backed loans at Korea’s five major banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — reached 1.36 trillion won ($947 million), up from 1.34 trillion won at the end of last year. Shinhan Bank has been increasing its IP-based financing for tech co

Oct 28, 2025By Jun Ji-hye
Banks expand IP-backed loans in line with K-culture promotion drive
Companies

Grand Cherokee L: Balancing performance and price

For drivers looking for a vehicle that balances performance, price, and practicality, the Jeep Grand Cherokee L three-row SUV emerges as a top contender. While premium vehicles were in high demand in recent years, this is no longer the case as Korea faces an economic slowdown. Increasingly, buyers are seeking cars at more reasonable prices. As demand for competitively priced cars rises, Korean customers still seek vehicles that make them feel something special. Stellantis Korea’s flagship Jeep aligns perfectly with this sentiment, with the Grand Cherokee L standing out for its strong brand value and practical design. Capable of carrying six passengers, the three-row SUV is not only spacious but also showcases Jeep’s legendary off-road heritage. With a spacious interior that surpasses most rivals, the Grand Cherokee L ensures comfort for all passengers. Its second-row seats provide nearly 100 centimeters of legroom, and the cargo capacity reaches 2,390 liters, making it perfect for large families on the move. The Grand Cherokee L’s price starts at 102.3 million won ($71,000) in Korea.

Oct 28, 2025By Lee Min-hyung
Grand Cherokee L: Balancing performance and price
Companies

Kakao launches ChatGPT service on KakaoTalk

Kakao said Tuesday ChatGPT, a popular generative artificial intelligence (AI) service developed by OpenAI, is now available for use on the KakaoTalk online messaging app. With ChatGPT for Kakao, KakaoTalk users can access the chatbot with a single tap and share AI-generated conversations, images and text with friends in real time, according to the company. Existing ChatGPT users can use the service within KakaoTalk with their preexisting ChatGPT account. This rollout marks the first major outcome of the partnership formed between Kakao and OpenAI in February as part of the Korean internet giant's broader strategy to join a global AI alliance amid intensifying competition in the market. Kakao's AI agent, Kakao Tools, is integrated with ChatGPT for Kakao, allowing the service to provide optimized answers by linking to Kakao's other applications, including Kakao Map, Kakao Reservation, Kakao Gift and Melon. To protect underage users, the service is available only to those aged 14 or older, the company said. Kakao added that it plans to expand ChatGPT for Kakao to non-Kakao apps and broaden it

Oct 28, 2025By Yonhap
Kakao launches ChatGPT service on KakaoTalk
Business

Cultural ethics, abandonment shape model entrepreneur

JINJU, South Gyeongsang Province — Businesses worldwide are moving at a fast pace thanks to artificial intelligence (AI), but the accelerating change is not entirely rosy, as there are also downsides such as ethical issues, questions about human values and newly required roles for companies, according to experts from the United States on Tuesday. The second day of the 2025 Jinju International Forum on Entrepreneurship examined the impact of technological advancement in a more cautious manner amid current global challenges like human alienation, unstable youth employment and widening gaps in entrepreneurship. The forum, in turn, highlighted the real meaning of innovation, interpreting it as a core driver of economic growth. It further defined creative destruction as an engine of civilizational progress. Winslow Sargeant, chief counsel for advocacy at the U.S. Small Business Administration, said entrepreneurs must be able to control AI so that the technology does not “take over humans.” His remarks came during the first session of the day, which focused on how cultures in the East

Oct 28, 2025By Ko Dong-hwan
Cultural ethics, abandonment shape model entrepreneur
  • Late LG chairman remembered as model leader
Banking & Finance

Brokerage CEOs poised for reappointment as KOSPI hits 4,000

CEOs of multiple top-tier Korean securities firms, whose terms are nearing their end, face hope for extensions amid a bull market, with the KOSPI surpassing 4,000 points. The milestone, reached Monday, is expected to further boost brokerage earnings, following an earnings surprise in the first half of the year. The top 10-ranked securities firms reported a combined net income of 4.48 trillion won ($3.12 billion) in the first six months, a 21.8 percent increase from a year earlier. Seven of these 10 firms have CEOs whose terms are nearing expiration — KB Securities and Hana Securities in December, and the remaining five — Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, Meritz Securities and Daishin Securities — in March 2026. “Given the strong stock market and the stellar performance of securities firms, the general consensus is that most CEOs will be reappointed,” an industry official said Tuesday. KB Securities is likely to maintain its co-CEOs, Kim Sung-hyun and Lee Hong-ku, with a year-end reshuffle scheduled for the first week of December. F

Oct 28, 2025By Yi Whan-woo
Brokerage CEOs poised for reappointment as KOSPI hits 4,000
Others

Lawyer recognized for outstanding international arbitration by Asian Legal Business

Yoon & Yang lawyer Kang Min-hwa was the only lawyer from Korea to be included in Asian Legal Business's (ALB) prestigious “Asia 40 Under 40 2025” list, the firm said Tuesday. The annual ranking recognizes 40 of the most accomplished lawyers under the age of 40 across the Asia-Pacific region who demonstrate exceptional professional achievements and leadership. Kang’s selection underscores both her outstanding success in high-stakes international arbitration and the law firm’s growing influence in cross-border dispute resolution. Among more than 500 candidates, Kang stood out for her significant contributions to major international arbitrations before the International Chamber of Commerce, the London Court of International Arbitration, the Hong Kong International Arbitration Centre, the Singapore International Arbitration Centre and the Korean Commercial Arbitration Board (KCAB). She has represented multinational corporations, financial institutions and public entities in complex disputes concerning construction, energy and finance. Kang’s notable achievements included representin

Oct 28, 2025By Lee Kyung-min
Lawyer recognized for outstanding international arbitration by Asian Legal Business
APEC 2025

InterviewWalnut cake expert set to sweeten APEC summit with decadent 'K-desserts'

Among the official domestic sponsors of this week’s Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju, North Gyeongsang Province, Buchang Bakery is tasked with introducing global economic leaders and top decision-makers to the richness of Korean desserts. The brand’s specialty is its variety of walnut cakes — a beloved street treat that has remained popular in Korea for over half a century. Although reserved for the upcoming APEC Economic Leaders’ Summit on Friday and Saturday, Buchang Bakery’s pastries have already made an appearance at the region’s largest economic forum earlier this year — the third Senior Officials’ Meeting (SOM3) held in Incheon in July. Attendees of last week’s Finance Ministers’ Meeting (FMM) and Structural Reform Ministers’ Meeting (SRMM) in Incheon also had the opportunity to enjoy the spongy walnut cakes, available with a variety of fillings. Lee Kyung-won, president of Fresh Gourmet, which operates Buchang Bakery, was on hand at a booth in Songdo Convensia in Incheon during SOM3. The booth’s milk-and-salt and green pea wal

Oct 28, 2025By Ko Dong-hwan
Walnut cake expert set to sweeten APEC summit with decadent 'K-desserts'
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