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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

    SAP Korea to host AI Tour event focused on autonomous enterprise strategy

    1 MIN READBy Jhoo Dong-chan
    SAP Korea to host AI Tour event focused on autonomous enterprise strategy
  • 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
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APEC 2025

Hyundai looks to Gyeongju for progress in tariff talks

Hyundai Motor Group’s top executives — represented by its Executive Chair Chung Euisun — are set to make last-ditch efforts to help achieve a breakthrough in Korea’s stalled tariff talks with the United States at the upcoming Asia-Pacific Economic Cooperation (APEC) CEO Summit. The carmaker seeks to take advantage of the event — slated for three days beginning Tuesday — as a major opportunity for smooth progress in the two countries’ unsettled trade negotiations. Chung is expected to meet with U.S. President Donald Trump and U.S. Secretary of Commerce Howard Lutnick in the event’s host city of Gyeongju this week and reiterate the carmaker’s pledge to expand its U.S. investment. Hyundai Motor Group’s two carmakers — Hyundai Motor and Kia — are urgently seeking a tariff reduction in the U.S., where a 25 percent import duty on Korean vehicles remains in place. In July, Korea and the U.S. reached a framework agreement, which included a reduction of auto tariffs to 15 percent, in exchange for Seoul’s planned $350 billion (500 trillion won) investment in the U.S. Howev

Oct 27, 2025By Lee Min-hyung
Hyundai looks to Gyeongju for progress in tariff talks
Banking & Finance

Hanwha's LIFEPLUS International Crown concludes with Australian team victory

The Hanwha LIFEPLUS International Crown, an LPGA national team event, concluded successfully after four days of competition, with the Australian team taking the crown, Hanwha Life said Monday. LIFEPLUS is a joint brand of financial affiliates of the Korean conglomerate Hanwha Group, including Hanwha Life and Hanwha Investment & Securities. The latest competition, held at Goyang New Korea Country Club from Thursday to Sunday, returned to Korea for the first time since 2018. It featured eight teams representing the United States, Korea, Japan, Australia, Thailand, Sweden, China and a World Team, with 32 of the world’s top players competing for a total prize of $2 million. After fierce competition, the Australian team, featuring Minjee Lee (world No. 3) and Hannah Green (world No. 18), captured the championship. Lee was named the tournament MVP, receiving a specially crafted trophy inspired by the 63 Building in Yeouido, symbolizing the headquarters of Hanwha’s financial affiliates. Since the 1990s, when it launched the Hanwha Cup Seoul Women’s Open, Hanwha Group has worked to strength

Oct 27, 2025By Jun Ji-hye
Hanwha's LIFEPLUS International Crown concludes with Australian team victory
Banking & Finance

Crypto transfers between Korean, Cambodian exchanges surge amid crime concerns

Cryptocurrency trading between Korean and Cambodian exchanges saw a sharp increase last year, according to data from the Financial Supervisory Service (FSS) Monday. This surge raises concerns that domestic exchanges may have been exploited for money laundering or illicit overseas transfers involving Cambodian criminal groups, amid reports of transnational online scam-related crimes proliferating in the Southeast Asian country, which have exploited and victimized some Koreans. In response, domestic exchanges have suspended all transactions with the Cambodian platform. Data from the FSS obtained by Rep. Lee Yang-soo of the main opposition People Power Party (PPP) showed that cryptocurrency transfers between Korea’s five major exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — and Cambodia’s Huione Guarantee totaled 12.8 billion won ($8.9 million) last year, surging nearly 1,400 times from 9.22 million won in 2023. Huione Group, a Phnom Penh-based financial conglomerate, has been sanctioned by the U.S. and U.K. governments as a transnational criminal network for allegedly laund

Oct 27, 2025By Jun Ji-hye
Crypto transfers between Korean, Cambodian exchanges surge amid crime concerns
Companies

SK hynix begins installing equipment at new HBM hub in Korea

SK hynix has begun installing production equipment at its new fabrication plant under construction in central Korea, with the goal of starting operations next year, industry sources said Monday. According to the sources, the Korean chipmaker has started installing production equipment in the cleanroom of the M15X fab in Cheongju, North Chungcheong Province. The facility will serve as the company's main hub for producing high bandwidth memory (HBM) products. The M15X is an expansion of the existing M15 plant, with SK hynix aiming to complete construction this year. SK hynix has also relocated part of its workforce from its headquarters in Icheon, Gyeonggi Province, to Cheongju in preparation for production. The new M15X fab is expected to solidify SK hynix's leadership in the HBM sector amid growing global demand. SK hynix recently completed preparations for the mass production of HBM4 and is currently in final-stage discussions with Nvidia over its supply.

Oct 27, 2025By Yonhap
SK hynix begins installing equipment at new HBM hub in Korea
Banking & Finance

Eximbank, IDB Invest sign $300 mil. MOU on Latin America coperation

The Export-Import Bank of Korea (Eximbank) and IDB Invest, the private-sector investment arm of the Inter-American Development Bank Group (IDB Group), have signed a $300 million deal to strengthen cooperation and joint financing in Latin America, Eximbank said Monday. The IDB Group provides financial support to more than 20 borrowing member countries across Latin America and the Caribbean. Eximbank said its acting Chairman Ahn Jong-hyuk and IDB Group President Ilan Goldfajn signed a memorandum of understanding (MOU) for the partnership at the bank’s headquarters in the financial district of Yeouido, Seoul, Friday. The MOU was signed as Eximbank, a state-run lender, seeks to expand its role as a development finance institution (DFI) on the 20th anniversary of Korea’s membership in the IDB. Eximbank also aims to reinforce its support for private-sector investment and sustainable development projects in Latin America. A DFI is a public financial institution that provides funding to foster private-sector growth in developing countries. Leading examples include the U.S. Development Finance

Oct 27, 2025
Eximbank, IDB Invest sign $300 mil. MOU on Latin America coperation
APEC 2025

HD Hyundai charts sustainable future for shipbuilding at APEC summit

HD Hyundai opened the 2025 Asia-Pacific Economic Cooperation (APEC) events in Korea Monday by presenting a blueprint for the future of shipbuilding in collaboration with global leaders. The company hosted the Future Tech Forum: Shipbuilding on the sidelines of the APEC CEO Summit under the theme “Shaping the Future of Shipbuilding.” The event drew more than 600 participants, including HD Hyundai Chairman Chung Ki-sun and speakers from Huntington Ingalls Industries, Anduril Industries and Siemens, as well as representatives from the shipbuilding industry, academia, government and the military. In his keynote speech, Chung highlighted the potential for sustainable growth in the shipbuilding industry through innovative technologies and called for greater global cooperation to make it a reality. “The rapid advancement of AI (artificial intelligence) technology has had a tremendous impact on other key fronts of our innovation — the sustainability of our ships and the digital manufacturing cycle,” Chung said. “For all these exciting possibilities to come true, we’ll need much clo

Oct 27, 2025By Ko Dong-hwan
HD Hyundai charts sustainable future for shipbuilding at APEC summit
Banking & Finance

Hana Financial sets up consumer protection committee amid reform drive

Hana Financial Group has set up a consumer protection committee within its board of directors in a move to strengthen consumer rights, the group said Tuesday. Hana is the first financial entity in the country to do so, signaling continued governance reform that places greater emphasis on consumer protection as a central corporate management rule. The new committee will directly evaluate and manage consumer protection policies and outcomes at the board level, representing Hana’s effort to elevate consumer interests as the top priority of the group’s highest decision-making body. Amid growing regulatory and social pressure to strengthen consumer rights, it remains to be seen whether Hana’s model can serve as an example for other financial groups. Hana said the committee is part of its broader initiative to build a groupwide consumer protection governance framework, designed to unify priorities for all group affiliates. The move seeks to make sure that the process of financial product development, consumer review and after-sales evaluations uphold consumer protection principles, as par

Oct 27, 2025By Lee Kyung-min
Hana Financial sets up consumer protection committee amid reform drive
APEC 2025

Korea’s AI alliances with global tech giants spotlighted ahead of APEC CEO Summit

As the world transitions to artificial intelligence (AI) technologies, Gyeongju, North Gyeongsang Province, is set to take center stage in the global business community as the 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit brings together top business moguls to spotlight AI as a key driver of economic growth. In recent years, Korean businesses have been scrambling to expand their reach into AI, forming partnerships with global tech giants and seeking to play a pivotal role in reshaping the future of industry and trade across the Asia-Pacific. Since 2018, Samsung has rapidly expanded its AI footprint, establishing dedicated research centers around the world, including the United States, Canada, United Kingdom and Russia, while discussing partnerships with U.S. tech giants Google and Microsoft. Samsung deepened its collaboration with Microsoft this year and integrated Microsoft’s generative AI platform, Copilot, into Samsung’s latest lineup of smart TVs, monitors and Galaxy devices, allowing users to access the platform directly through voice or remote commands. Last week, th

Oct 27, 2025By Lee Gyu-lee
Korea’s AI alliances with global tech giants spotlighted ahead of APEC CEO Summit
APEC 2025

Sponsors play key role in Korea’s hosting of APEC 2025

Korea’s hosting of this week’s Asia-Pacific Economic Cooperation (APEC) events in Gyeongju was bolstered by 66 official sponsors, ranging from small- and medium-sized enterprises (SMEs) to major global firms. In exchange for official sponsorship, companies received authorization to use the event’s official butterfly emblem for promotional purposes. The event, which runs from Monday to Saturday, encompasses the APEC CEO Summit and the APEC Economic Leaders’ Meeting. The sponsors include six beauty companies, among them Korea’s largest beauty retail platform CJ Olive Young, as well as major brands like LG H&H and APR. Food companies make up the largest category of sponsors, with 29 providing products for event participants. Globally recognized firms such as Paris Baguette, Nongshim, and CJ CheilJedang supplied bakery items, instant noodles, and snacks for meetings and banquets. Jeju Special Self-Governing Province Development Corp., producer of the country’s popular Samdasoo drinking water, contributed 138,000 label-free bottles for the week’s events and supported the Senior

Oct 27, 2025By Ko Dong-hwan
Sponsors play key role in Korea’s hosting of APEC 2025
Companies

Lutnick to have dinner with Korean business leaders

U.S. Secretary of Commerce Howard Lutnick has reportedly suggested a dinner meeting with Korea’s top conglomerate leaders from Samsung, SK, LG and Hyundai Motor on the sidelines of this week's Asia-Pacific Economic Cooperation (APEC) summit. The dinner will take place Wednesday after President Lee Jae Myung holds his second summit with U.S. President Donald Trump in Gyeongju, North Gyeongsang Province. Lutnick is believed to have made the suggestion through the U.S. Embassy in Seoul. Both sides are fine-turning a detailed agenda for the upcoming meeting. Potential participants for the dinner include Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, Hyundai Motor Group Executive Chair Chung Euisun and Hanwha Group Vice Chairman Kim Dong-kwan. The Korean business leaders recently visited the U.S. to play golf with Trump and meet with ranking officials from his administration for talks on U.S. trade policies. Korea and the U.S. remain in a tight tug-of-war in their long-protracted trade talks, even after both sides reached

Oct 27, 2025By Lee Min-hyung
Lutnick to have dinner with Korean business leaders
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