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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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Companies

PHOTO For safer ESS

Samsung SDI CEO Choi Joo-sun, third from left, and Korea Electrical Safety Corp. CEO Nam Hwa-yeong, second from left, pose at the battery maker's plant in Yongin, Gyeonggi Province, Monday, after signing a memorandum of understanding to bolster safety of energy storage system (ESS) products. Samsung SDI said Wednesday the agreement was signed to align with the government's plan to increase ESS supplies for energy transitions. Courtesy of Samsung SDI

Oct 22, 2025By Park Jae-hyukphoto
[PHOTO] For safer ESS
Banking & Finance

Woori Financial’s Goodwill Store model earns US headquarters’ recognition

Woori Financial Group’s version of the U.S. Goodwill Industries International (GII) social responsibility program model has been recognized as a benchmark for creating jobs for individuals with developmental disabilities, the group said Wednesday. Woori is the first Korean financial institution to receive such recognition from Goodwill’s U.S. headquarters, with its model now being considered for global adoption across the Goodwill network, which includes 165 affiliates and more than 3,300 stores worldwide. The group’s model centers on creating stable, paid jobs for individuals with developmental disabilities in collaboration with local welfare organizations, aided by funding and operating donation-based stores. The stores generate revenue through sales of donated goods, in turn funding salaries and training programs for disabled employees. According to Woori, chairman Yim Jong-yong presented the group's “Woori-style Goodwill Store” model to GII President and CEO Steven C. Preston and senior executives during a meeting at its headquarters in Rockville, Maryland, Oct. 16 (local t

Oct 22, 2025By Lee Kyung-min
Woori Financial’s Goodwill Store model earns US headquarters’ recognition
Business

Samsung, SK hynix showcase latest HBM4 chips at 2025 SEDEX

Samsung Electronics and SK hynix on Wednesday showcased their latest high bandwidth memory (HBM) chips at a semiconductor exhibition in Seoul amid an expected showdown between the South Korean companies for the sixth-generation artificial intelligence (AI) chip market. At the 2025 Semiconductor Exhibition (SEDEX), which kicked off earlier in the day for a three-day run in southern Seoul, both companies displayed their HBM4 chips at their booths, underscoring their confidence in leading the rapidly growing sector. HBM, an advanced, high-performance memory chip, is a crucial component of Nvidia's graphics processing units (GPUs) that drive generative AI systems. While the current market is dominated by fifth-generation HBM3E chips, industry watchers expect HBM4 to become a major factor next year, as Nvidia plans to use it in its next-generation AI accelerator, Rubin. SK hynix, currently the leading supplier of HBM3E as part of the tripartite supply chain with Nvidia and TSMC, has completed development of HBM4 and is preparing for mass production. The company is reportedly in talks with Nvi

Oct 22, 2025By Yonhap
Samsung, SK hynix showcase latest HBM4 chips at 2025 SEDEX
Banking & Finance

Korean banks’ inroads in Cambodia raise concerns of criminal exploitation

Korean banks have achieved their most successful overseas localization in Cambodia, a country at the center of controversy over online scams and other crimes targeting Korean nationals, government data showed. The ongoing controversy over crime rings in Cambodia is undermining Korean banks’ yearslong localization efforts and global expansion campaigns there. Rather than being celebrated, the achievement has raised concerns that the Korean lenders may have been unknowingly used by criminal networks accused of kidnapping, defrauding, torturing and even murdering Koreans in the Southeast Asian nation. Included among them is Prince Group, which was designated by the U.S. Treasury as a “transnational criminal organization.” According to a report by the Financial Supervisory Service (FSS), Cambodia ranked first among 41 countries in Korean banks’ overseas localization performance in 2024. In the private sector, KB Kookmin Bank, Shinhan Bank, Woori Bank and iM Bank each operate one corporate entity in Cambodia, while Jeonbuk Bank runs two. Among state-run and government-affiliated banks

Oct 22, 2025By Yi Whan-woo
Korean banks’ inroads in Cambodia raise concerns of criminal exploitation
APEC 2025

Korean autonomous buses to showcase tech at APEC meetings

Korean autonomous buses are set to turn heads during the highly anticipated Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju, North Gyeongsang Province, later this month, showcasing the country’s advanced technology to international guests. The Ministry of Land, Infrastructure and Transport said Wednesday that it will launch shuttle buses on two circuit routes to provide transportation for attendees. One route will circle Gyeongju Hwabaek International Convention Center, the main venue for the meetings, while the other will operate around Bomun Tourism Complex. The government hopes the buses will assist — and impress — the roughly 20,000 guests expected to attend next week’s event, including presidents from the 21 APEC member economies. Each bus was made by Kia and KG Mobility, with autonomous control technology provided by Autonomous A2Z, a company based in Gyeongsan, North Gyeongsang Province. According to the government, over 90 percent of the autonomous driving technology in the buses is domestically produced. Shuttle Bus A, which loops around Bomun Tourism Comp

Oct 22, 2025By Ko Dong-hwan
Korean autonomous buses to showcase tech at APEC meetings
Companies

Korean Air, Lockheed Martin sign partnership framework for US military aircraft maintenance

Korean Air signed a partnership framework with U.S. defense giant Lockheed Martin on Wednesday to provide follow-on maintenance support for U.S. military aircraft, expanding its role as a key maintenance partner in the Indo-Pacific region. A signing ceremony for the framework took place at the Seoul International Aerospace & Defense Exhibition (ADEX) 2025 under way in Goyang, Gyeonggi Province. It was attended by Cho Hyun-chul, head of Korean Air's military aircraft division, and Steve Sheehy, vice president of Lockheed Martin for sustainment operations. The agreement aims to support the timely sustainment of U.S. military assets deployed in the Indo-Pacific region and beyond. It is in line with the U.S. Department of Defense's Regional Sustainment Framework (RSF) strategy, which seeks to improve military readiness by shifting equipment maintenance, repair and overhaul (MRO) work to allied partners in the region. Korean Air is considered a strong partner for the RSF program due to its strategic location, advanced technical capabilities and decades of experience. The company said it is the

Oct 22, 2025By Yonhap
Korean Air, Lockheed Martin sign partnership framework for US military aircraft maintenance
APEC 2025

Hyundai Motor set to deepen ties with CATL on sidelines of APEC

Hyundai Motor Group Executive Chair Chung Euisun is set to elevate the carmaker's battery alliance in a possible meeting with Zeng Yuqun, chairman of Chinese battery giant CATL, on the sidelines of the upcoming Asia-Pacific Economic Cooperation (APEC) meetings. Both business leaders will participate in the four-day APEC CEO Summit, set to begin Tuesday in Gyeongju, North Gyeongsang Province. Details on the specific location and timeline for their symbolic meeting have not been confirmed. The head of the world’s largest electric vehicle (EV) battery maker is widely expected to discuss the possibility of expanding its battery supply to more EV lineups of Hyundai Motor and Kia. Hyundai Motor Group is also standing at a critical juncture where it has to achieve deeper inroads particularly into the lucrative European EV market. CATL is already supplying lithium iron phosphate (LFP) batteries for Hyundai Motor’s Kona Electric, along with Kia’s Niro EV and Ray EV. The Chinese battery maker in July also began supplying nickel cobalt manganese (NCM) batteries to Kia’s EV5 electric SUV. For

Oct 22, 2025By Lee Min-hyung
Hyundai Motor set to deepen ties with CATL on sidelines of APEC
Tech & Science

Miele chief stresses fundamentals of home appliances

Markus Miele, executive director and co-proprietor of Miele, a German premium home appliance brand, stressed the importance of the fundamental functions of appliances, Wednesday, questioning whether rivals’ moves to realize an artificial intelligence (AI)-powered smart home can truly create user benefits. During an interview with The Korea Times in Seoul, the executive director noted that AI smart home solutions now available on the market are “not evolved as much as we think,” and that Miele is focusing on “real user benefits” that advanced technologies can offer. “So, coming to smart home and integration (of home appliances), we ask ourselves the question: what’s the user benefit?” Miele said. “We monitor what is happening all around the world. But it is still not evolved as much as we think because people use the appliances in the physical space — you have to load the dishwasher. A consistent smart home, that’s not so easy to create user benefit.” Miele is one of the best-known premium home appliance brands, specializing in washers, dishwashers and cooktops. T

Oct 22, 2025By Nam Hyun-woo
Miele chief stresses fundamentals of home appliances
Companies

Hanwha vice chairman meets Romanian PM over defense cooperation

The vice chief of Hanwha Group, Korea's chemicals-to-shipbuilding conglomerate, has met with the Romanian prime minister to discuss potential cooperation with the Eastern European country in the defense industry, according to the group Wednesday. Hanwha Vice Chairman Kim Dong-kwan, who accompanied Kang Hoon-sik, chief of staff of Korean President Lee Jae Myung, met with Prime Minister Ilie Bolojan in the Romanian capital of Bucharest on Tuesday, a group official said. "The vice chairman's visit aims to help Korea expand major defense exports to Europe and promote national interests," the official said. During the visit, Kang delivered a letter from Lee to Bolojan as part of his mission as a special envoy to strengthen bilateral defense industry partnerships and boost Korea's arms exports. Hanwha's Kim reportedly took part in discussions related to Romania's 4.9 trillion-won ($3.5 billion) project to acquire new infantry fighting vehicles (IFVs) to replace aging Soviet-era armored vehicles. Hanwha is expected to compete in the bidding process with Germany's Rheinmetall AG, Britain's BAE Sy

Oct 22, 2025By Yonhap
Hanwha vice chairman meets Romanian PM over defense cooperation
Companies

LIG Nex1, Airbus DS sign MOU to strengthen strategic partnership

Korean defense company LIG Nex1 said Wednesday it has signed a memorandum of understanding (MOU) with Airbus Defence and Space (DS) to expand their strategic partnership and cooperation in advanced defense and aerospace technologies. Under the MOU signed Monday on the sidelines of the Seoul International Aerospace & Defense Exhibition (ADEX) 2025 in Goyang, Gyeonggi Province, the two sides plan to broaden their collaboration beyond existing joint projects to include integrated air defense systems and digital defense solutions. They will also work together to explore wider industrial cooperation opportunities, including support for Korea's national space programs. LIG Nex1 and Airbus DS have already built a cooperative relationship. Last month, they signed an agreement to strengthen future cooperation in the field of integrated air defense systems. "This updated MOU marks an important milestone that elevates our partnership with LIG Nex1 to a new level," said Lee Hee-hwan, president of Airbus DS Korea. "In a rapidly evolving defense environment, our collaboration reflects a shared commitm

Oct 22, 2025By Yonhap
LIG Nex1, Airbus DS sign MOU to strengthen strategic partnership
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