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    Samsung, SK chip investment timelines leave room for adjustment

    Samsung Electronics and SK hynix announced a combined 800 trillion won ($516.4 billion) investment commitment to establish advanced chip plants in Gwangju and South Jeolla Province in Korea's southwest, but stopped short of providing a timeline for when the investments will be made or construction will begin, leaving room to adjust their spending plans until the long-term memory chip cycle becomes clearer. According to the government and the chipmakers, Samsung and SK will each invest 400 trillion won to build two advanced memory fabrication each in the region, for a total of four new fabs as part of the government’s “three megaprojects for Korea’s leap forward.” Samsung Electronics Executive Chairman Lee Jae-yong named Gwangju as the candidate site, while SK Group Chairman Chey Tae-won referred to the region as a whole. While announcing the massive plans while standing with President Lee Jae Myung, who have been urging the chipmakers to make investment in the southwestern region, the leaders refrained from specifying timelines for the new fabs. The companies also did not mention

    4 MIN READBy Nam Hyun-woo
    Samsung, SK chip investment timelines leave room for adjustment
  • Banking & Finance

    KakaoBank lands 4 papers at leading AI conferences

    2 MIN READBy Lee Hyo-jin
    KakaoBank lands 4 papers at leading AI conferences
  • Companies

    LG Electronics to establish control tower for robotics business

    2 MIN READBy Nam Hyun-woo
    LG Electronics to establish control tower for robotics business
  • Companies

    Incheon airport operator to halve employee parking permits

    3 MIN READBy Lee Min-hyung
    Incheon airport operator to halve employee parking permits
  • Companies

    Court grants JTBC time for autonomous restructuring amid liquidity crisis

    1 MIN READBy Yonhap
    Court grants JTBC time for autonomous restructuring amid liquidity crisis
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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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Business

Tennessee Gov. Bill Lee meets with Korean biz leaders

Gov. Bill Lee of the U.S. state of Tennessee met with Korean business leaders Friday to discuss ways to strengthen economic cooperation, a local business lobby said. Lee and his delegation attended a breakfast meeting in Seoul with Korean business figures, including representatives from POSCO Holdings, CJ Group, LS Group and Hyosung Group. The meeting was arranged by the Federation of Korean Industries (FKI). During the event, the participants discussed expanding economic cooperation between Korea and Tennessee and exploring new business opportunities, according to the FKI. Lee, who arrived in Seoul on Thursday for his first visit in six years, also met with Lee Seok-hee, chief executive officer (CEO) of Korean battery maker SK On Co., which is building a joint venture plant in Tennessee. During his Seoul stay, Gov. Lee is also expected to meet with Korean companies investing in Tennessee, including LG Chem Ltd., LG Energy Solution Ltd. and LG Electronics Inc.

Oct 24, 2025By Yonhap
Tennessee Gov. Bill Lee meets with Korean biz leaders
Companies

Hanjin Group celebrates 80th anniversary, unveils new corporate identity

Hanjin Group has pledged to evolve into a complete mobility firm covering aerospace, defense solutions, e-commerce and logistics, as part of its new long-term corporate vision, the company said Tuesday celebrating its 80th anniversary. The group operates diverse affiliates in industries such as aviation, logistics and hotels. Under the latest 2045 vision, the company also promised to create more value by converging the business areas and generating synergy. “Hanjin Group takes great pride in having grown alongside Korea’s progress,” Hanjin Group Chairman Cho Won-tae said during the anniversary event. “We will continue to play our part in expanding the nation’s presence beyond the Korean Peninsula. Building on the shared heritage of our affiliates, we aim to strengthen our position as a world-leading integrated logistics company, one that continues to be trusted and loved for the next 100 years and beyond.” Hanjin Group achieved 31 trillion won ($21.5 billion) in sales and an operating profit of 2.5 trillion won, powered by solid earnings performance from its core aviation aff

Oct 23, 2025By Lee Min-hyung
Hanjin Group celebrates 80th anniversary, unveils new corporate identity
Companies

KITA holds trade roundtable with Tennessee governor to deepen trade, investment ties

The Korea International Trade Association (KITA) held a trade roundtable with Tennessee Gov. Bill Lee in Seoul Thursday, to discuss ways to expand trade and investment cooperation. Joining the governor were Stuart McWhorter, deputy governor and commissioner of the Tennessee Department of Economic and Community Development, and Allen Borden, deputy commissioner. On the Korean side, participants included KITA Chairman Yoon Jin-sik, Meta Biomed Chairman Oh Suk-song, Hyundai Motor Group Executive Vice President Kim Dong-wook and YG-1 Chairman Song Ho-keun. Representatives from Korean companies already operating in or considering expansion into Tennessee also attended to exchange views directly with state officials on future industrial cooperation, workforce development and local operational support. Tennessee is recognized as one of the leading manufacturing hubs in the United States, home to major Korean investors such as LG Electronics, Hyosung Heavy Industries and Hankook Tire. “South Korea continues to be a key economic partner for the State of Tennessee, particularly in advanced manuf

Oct 23, 2025By Lee Gyu-lee
KITA holds trade roundtable with Tennessee governor to deepen trade, investment ties
Banking & Finance

Young Poong accuses Korea Zinc chairman of 'moral hazard' over friend's embezzlement verdict

Young Poong, the largest shareholder of Korea Zinc, accused Korea Zinc Chairman Choi Yoon-beom, Thursday, of “moral hazard and breakdown of internal controls” in connection with a court ruling earlier this week against the CEO of a private equity firm in which Korea Zinc invested. The accusation is the latest development in the contentious feud between Young Poong, together with its ally MBK Partners, and Korea Zinc, which has spawned a yearlong battle to secure management control of Korea’s largest zinc smelter. “This ruling is not merely about a failed investment — it exposes the moral hazard and breakdown of internal controls under Chairman Choi’s leadership,” Young Poong said in a statement. The statement referred to a guilty verdict handed down on Tuesday by the Seoul Southern District Court against Ji Chang-bae, CEO of private equity firm One Asia Partners. Ji was sentenced to three years in prison with a four-year suspended term for embezzlement, as the court ruled that he misused the company’s fund assets for personal purposes. According to legal sources, the court

Oct 23, 2025By Yi Whan-woo
Young Poong accuses Korea Zinc chairman of 'moral hazard' over friend's embezzlement verdict
Companies

Shareholders approve HD Hyundai merger, effective Dec. 1

HD Hyundai Heavy Industries and HD Hyundai Mipo, both subsidiaries of HD Korea Shipbuilding & Offshore Engineering (HD KSOE), have received board approval for a merger to strengthen their presence in the global maritime defense industry. Their integration as HD Hyundai Heavy Industries will take effect on Dec. 1. HD Hyundai said Thursday that a shareholders’ meeting held earlier in the day approved the merger by a majority vote. The meeting followed the two companies’ announcement in August of their plan to merge, aiming to strengthen defense capabilities, develop new technologies and expand their presence in global markets. Last month, the country’s top antitrust regulator, the Fair Trade Commission, approved the merger, saying that it preserves HD Hyundai’s managerial structure and poses no risk to fair market competition. HD Hyundai said the merger will “maximize synergy by expanding HD Hyundai Heavy Industries in both scale and capability.” The group described the move as a strategic effort to assert leadership in the fiercely competitive global defense industry, where co

Oct 23, 2025By Ko Dong-hwan
Shareholders approve HD Hyundai merger, effective Dec. 1
Tech & Science

LG Uplus reports cyberattack on servers following similar breaches at SK Telecom, KT

LG Uplus Corp., a major mobile carrier in South Korea, reported a cyberattack on its servers to authorities Thursday, industry sources said, the latest in a series of recent industry-wide data breach cases. According to the sources, LG Uplus submitted a report earlier in the day to the Korea Internet and Security Agency (KISA) after detecting signs of a hacking attempt. It came three months after KISA was alerted by a white-hat hacker to a possible breach of LG Uplus' servers and notified the company of the warning in July, the sources said. Phrack, an online cybersecurity publication, also reported that a hacking group had infiltrated LG Uplus' intranet and leaked the data of about 42,000 customer accounts and 167 employees. LG Uplus told the Ministry of Science and ICT in August that its internal inspection had found no concrete evidence of a cyberattack. With LG Uplus now under scrutiny, all three of the country's major telecom operators have faced data security incidents this year. In April, industry leader SK Telecom Co. disclosed a major leak of universal subscriber identity module (

Oct 23, 2025By Yonhap
LG Uplus reports cyberattack on servers following similar breaches at SK Telecom, KT
Companies

POSCO E&C to unveil premium interior collection The Atelier Edition

POSCO E&C will officially unveil its new high-end interior collection, The Atelier Edition, developed in collaboration with world-renowned interior designer Teo Yang, with a launch event on Nov. 7 in southern Seoul. The new line combines the refined aesthetic of the construction firm’s luxury residential brand, Hauterre, with Yang’s unique design philosophy, presenting a living space where artistry and technology come together in perfect harmony. “The Atelier Edition is a new form of high-end living that integrates art, technology, tradition and modernity,” a company official said. “We’ll continue to expand our Hauterre brand by introducing lifestyle trends that reflect our clients’ refined sensibility and aspirations.” The Atelier Edition goes beyond simply offering premium materials, delivering a fully curated residential experience. From furniture and lighting to home styling, Yang personally envisioned every element for a complete living space that allows residents to own a work of art. Yang is renowned for bringing a contemporary touch to traditional Korean aesthetic

Oct 23, 2025By Lee Gyu-lee
POSCO E&C to unveil premium interior collection The Atelier Edition
Companies

Hanwha, HMM, KR partner on carbon-free ship technologies

Hanwha Group’s four affiliates have signed an agreement with Korea’s largest shipping company and a leading vessel technology organization to promote carbon neutrality in global maritime transportation. Hanwha Power Systems, a clean energy developer under the mega conglomerate, said on Thursday that the group signed a memorandum of understanding (MOU) with HMM and Korean Register (KR) in Busan the previous day. The signing took place on the sidelines of KORMARINE 2025, a global maritime exhibition. The tripartite partnership aims to jointly develop a propulsion system based on fuel cells and ammonia gas turbines for 7,000- to 8,000-ton vessels. They will also develop a hybrid propulsion system using fuel cells and batteries for 2,000-ton feeder vessels. The three parties will cooperate to design the systems, calculate the project’s profitability and develop new types of vessels to utilize the systems. Each party to the MOU will contribute its expertise to achieve the shared goals. Hanwha — through its affiliates Hanwha Power Systems, Hanwha Ocean, Hanwha Aerospace and Hanwha Sys

Oct 23, 2025By Ko Dong-hwan
Hanwha, HMM, KR partner on carbon-free ship technologies
Companies

PHOTO Kia extends sponsorship contract with Rafael Nadal

Spanish tennis player Rafael Nadal, left, poses with Kia CEO Song Ho-sung after extending his sponsorship contract with the carmaker at Kia’s Unplugged Ground cultural space in Seoul, Thursday. The Korean automaker has sponsored the tennis legend for 21 years since 2004. Courtesy of Kia

Oct 23, 2025By Lee Min-hyungphoto
[PHOTO] Kia extends sponsorship contract with Rafael Nadal
Tech & Science

Vena Group submits plan to invest $14 bil. in Korea's renewable energy, AI projects

Vena Group, one of the largest renewable energy developers in the Asia-Pacific region, has expressed its intention to invest 20 trillion won ($14 billion) in Korean projects to develop renewable energy solutions and build an artificial intelligence (AI) data center, the government said Thursday. Vena Group has submitted a letter of intent (LOI) for the investment to the Korean government, according to the climate and science ministries. In the LOI, Vena Group made a proposal to invest a combined 20 trillion won in a number of Korean projects, including one aimed at developing renewable energy solutions, such as solar and wind power, as well as battery energy storage systems. The others include Korea's plan to build an AI data center utilizing renewable energy sources, a 500-megawatt (MW) offshore wind power project and another 384 MW offshore wind power project. Vena Group is a fully owned subsidiary of the world's biggest investment management company, BlackRock, and is currently operating or building a combined 9.7 gigawatts (GW) of renewable energy facilities in Korea, Japan, Taiwan,

Oct 23, 2025By Yonhap
Vena Group submits plan to invest $14 bil. in Korea's renewable energy, AI projects
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