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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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Companies

Tennessee governor meets with SK On CEO to strengthen investment ties

Gov. Bill Lee of the U.S. state of Tennessee on Thursday met with the head of SK On to discuss ways to enhance cooperation and strengthen ties, industry sources said. Lee visited SK On's headquarters in central Seoul earlier in the day and had talks with Lee Seok-hee, chief executive officer (CEO) of the Korean battery manufacturer, according to the sources. During the meeting, they discussed the planned operation of SK On's plant under construction in Tennessee by BlueOval SK, a joint venture between SK On and Ford Motor, as well as measures to strengthen cooperation with the local community. BlueOval SK is building a 45 gigawatt-hour (GWh) battery plant in Tennessee as part of its 16 trillion-won ($11.2 billion) investment plan to build three manufacturing facilities in the United States. The facility is scheduled to begin operations next year. During his Seoul stay, Gov. Lee is also expected to meet with South Korean companies investing in Tennessee, including LG Chem, LG Energy Solution and LG Electronics. LG Chem is building a cathode materials plant in Clarksville, while LG Energy S

Oct 23, 2025By Yonhap
Tennessee governor meets with SK On CEO to strengthen investment ties
Companies

GM showcases mobility vision, technologies at Korean expo

GM Korea said Thursday that its parent company, General Motors, is taking part in a Korean mobility expo to present its future vision for electrification and key next-generation technologies. GM is showcasing a wide range of models, including Cadillac's first all-electric sport utility vehicle (SUV), the Lyriq, as well as future vehicle technologies at the Daegu International Future Auto & Mobility Expo 2025 (DIFA) in Daegu, 310 kilometers southeast of Seoul. The event runs from Wednesday through Saturday, GM Korea said in a press release. The Detroit-based carmaker is focusing on highlighting its global strategies and latest initiatives to respond to the rapidly evolving mobility industry, together with GM Technical Center Korea (GMTCK), one of GM's core global engineering hubs, it said. GMTCK serves as GM Korea's research and development (R&D) unit. "DIFA is an important stage where the present and future of the global mobility industry come together. Through this event, GM aims to present its vision for future technologies in electrification, advanced driving and digital innovation,"

Oct 23, 2025By Yonhap
GM showcases mobility vision, technologies at Korean expo
Companies

LG Electronics to join automotive software marketplace SDVerse

LG Electronics said Thursday it will join the global automotive software marketplace SDVerse as part of its push to lead the emerging software-defined vehicle (SDV) market through expanded partnerships with key industry players. SDVerse is a business-to-business (B2B) open platform for buying and selling automotive software. It was jointly developed by General Motors, Magna International and Wipro, and connects global carmakers, auto parts suppliers and software developers. The platform aims to create a matchmaking marketplace for buyers and sellers of embedded automotive software through an independent, industry-driven sourcing and procurement process. By joining SDVerse, LG Electronics said it plans to bolster its competitiveness in the automotive components business and strengthen ties within the global automotive software ecosystem. The company will showcase various mobility solutions on the platform, including LG Alphaware, its in-house software suite for SDVs. LG Electronics, traditionally known for its home appliances, has made constant efforts to diversify its business portfolio a

Oct 23, 2025By Yonhap
LG Electronics to join automotive software marketplace SDVerse
Tech & Science

Nuclear safety watchdog set to decide on 10-year extension for Kori-2 reactor

The country's nuclear safety watchdog is set to decide Thursday whether to extend the lifespan of the 42-year-old Kori-2 nuclear reactor by an additional 10 years. The Nuclear Safety and Security Commission (NSSC) plans to hold a meeting to review a request to restart and operate the 650-megawatt lightwater reactor, which has reached beyond its initial 40-year license. The Korea Hydro and Nuclear Power Co. (KHNP), the state-run power operator, has asked the NSSC to approve a life extension that would allow the Kori-2 to operate until April 2033. The commission held a review meeting Sept. 25 but postponed the decision, citing the need for more time to deliberate. The Kori-2, located on Korea's southeast coast, started commercial operations in April 1983. It remains the country's oldest active reactor, aside from the Kori-1 and Wolsong-1 reactors, which have been permanently shut down. The Kori-2 has been offline since April 2023, when its initial 40-year operating license expired. The outcome of the Kori-2 case is expected to set a precedent for nine other aging reactors for which KHNP plan

Oct 23, 2025By Yonhap
Nuclear safety watchdog set to decide on 10-year extension for Kori-2 reactor
Business

High1 Resort emerges as hot spot for MICE events

High1 Resort is stealing the spotlight as a hub for the meetings, incentives, conferences and exhibitions (MICE) industry by playing host to the Asia Model Festival (AMF) for the second year in a row. High1 Resort is operated by Kangwon Land, making it an ideal venue for large multipurpose events. The High1 2025 Asia Model Festival is a global event featuring top models, designers and influencers from 26 Asian countries. The fashion and beauty platform, which marks its 20th anniversary this year, aims to promote Asia’s beauty and uniqueness to the world through a wide variety of programs, including fashion shows and award ceremonies. This year’s festival will take place at Kangwon Land Grand Hotel Convention Center from Oct. 25-31, and is expected to bring more than 5,000 people to the integrated resort complex for the event, but also to commune with nature and enjoy tourist attractions. Among the programs featured this year are the Asia Senior Model Open Audition on Oct. 25; the Asia Open Collection from Oct. 26-27; the Asia Beauty Awards on Oct. 29; and the Asia Model Awards on Oct

Oct 23, 2025By Sah Dong-seok
High1 Resort emerges as hot spot for MICE events
Companies

Calls grow to increase subsidies for production, use of sustainable jet fuel

The government has been urged to take additional measures to mandate the use of sustainable aviation fuel (SAF) on all international flights departing from domestic airports. As both oil refiners and airlines face the inevitability of higher costs to produce and use the jet fuel, made from used cooking oil and other renewable energy sources, calls are intensifying for the government to offer tax credits and expanded subsidies to companies working to lower carbon emissions in aviation. In September, the government announced a minimum blending ratio of 1 percent SAF on all outbound flights beginning in 2027, with plans to raise the requirement to 3 to 5 percent by 2030 and 7 to 10 percent by 2035. At the same time, it promised several incentives and support measures to accompany the mandate. The Ministry of Trade and Industry pledged to fund up to 25 percent of facility investment costs and up to 40 percent of research and development costs, while the Ministry of Land, Infrastructure and Transport committed to reduce facility usage fees by 500 million won ($353,000) at Incheon Internation

Oct 23, 2025By Park Jae-hyuk
Calls grow to increase subsidies for production, use of sustainable jet fuel
APEC 2025

APEC CEO Summit to serve as platform for insights into future

The upcoming Asia-Pacific Economic Cooperation (APEC) CEO Summit is expected to serve as a platform for global business leaders and prominent industry figures to share their views on the future of the global economy and innovation. The APEC CEO Summit is one of the official events of the 2025 APEC program in Gyeongju, North Gyeongsang Province. Unlike other events that focus mainly on economic and government policy for regional prosperity, the CEO Summit is hosted by the Korea Chamber of Commerce and Industry (KCCI), a private business organization, and centers on more practical business discussions, new technologies and emerging industrial trends. Slated for Oct. 28 to 31 in the historic city, the event is expected to draw 1,700 officials and representatives from APEC economies and the world’s leading businesses. Key participants Arguably the event's biggest name is Nvidia CEO Jensen Huang, who will have a special session on Oct. 31 at Gyeongju Arts Center. Nvidia said he will attend the summit to share the company’s vision for accelerating technological innovation and global growth

Oct 23, 2025By Nam Hyun-woo
APEC CEO Summit to serve as platform for insights into future
Companies

Samsung Group's market capitalization tops $634 bil. for 1st time: data

Samsung Group's entire market capitalization surpassed $630 billion for the first time on Wednesday, driven by semiconductor maker Samsung Electronics' bullish run, data showed. Samsung Group's total market capitalization stood at 907.9 trillion won ($634.4 billion), up 67 percent from 543.3 trillion won at the end of last year, according to the data from the Korea Exchange. The increase was largely attributed to a sharp increase in the share price of Samsung Electronics, which swelled 85.3 percent from 53,200 won on Dec. 31 to 98,600 won Wednesday. Samsung Electronics' share price rose sharply in recent weeks, boosted by a tech rally on Wall Street and a positive outlook for the chip sector amid a boom in the artificial intelligence (AI) market.

Oct 22, 2025By Yonhap
Samsung Group's market capitalization tops $634 bil. for 1st time: data
Companies

Shaheen project underway without capacity cut

ULSAN — Construction of Korea’s largest petrochemical facility was in full swing near S-Oil’s plant in the southeastern port city of Ulsan Tuesday. Despite a government recommendation that the struggling petrochemical industry reduce output at naphtha cracking centers (NCCs), the Saudi Aramco-owned refiner was proceeding with the over $7 billion Shaheen project as planned. As of Tuesday, the project was more than 85 percent complete. A supervisor from Hyundai E&C told reporters that last-minute efforts were underway to finish work that began in March 2023. Hyundai E&C leads a consortium of construction firms involved in the project, including Hyundai Engineering, Lotte E&C and DL E&C. “Just a year ago, the project was about 40 percent finished,” the supervisor said at an observatory overlooking the construction site. “Around 11,000 workers from Ulsan and nearby cities come to the site every day.” There had been speculation that S-Oil might cut the new facility’s capacity to join domestic petrochemical firms’ joint efforts to lower combined output at NCCs nationwide by up

Oct 22, 2025By Park Jae-hyuk
Shaheen project underway without capacity cut
Business

KCCI chief sends congratulatory letter to new Japanese PM Takaichi

Chey Tae-won, chief of the Korea Chamber of Commerce and Industry (KCCI), has sent a congratulatory letter to new Japanese Prime Minister Sanae Takaichi, the business lobby said Wednesday. "We are confident that Prime Minister Takaichi's leadership will revitalize Japan and contribute to progress in neighboring countries and regions," Chey said in the letter sent Tuesday, according to the KCCI. He also emphasized the importance of bilateral cooperation to create synergy in addressing challenges stemming from rapidly changing global trade conditions. Chey invited Takaichi to the upcoming Asia-Pacific Economic Cooperation (APEC) CEO Summit, hosted by the KCCI, next week in Gyeongju, North Gyeongsang Province. Chey, also the chairman of SK Group, will preside over the event as the KCCI chief. The major business forum, to be held on the sidelines of the consequent APEC summit, will bring together leaders from APEC economies and global companies, including Nvidia Chief Executive Officer (CEO) Jensen Huang, Amazon Web Services CEO Matt Garman and Kristalina Georgieva, managing director of the

Oct 22, 2025By Yonhap
KCCI chief sends congratulatory letter to new Japanese PM Takaichi
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