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  • Companies

    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

P&G Korea enhances accessibility with braille-tagged household goods

Household cleaning and hygiene product company P&G Korea has provided simple but effective assistance to help visually impaired consumers by implementing Braille tags on its detergent products, the company said Sunday. The company jointly manufactured Braille tags and stickers for laundry products in collaboration with the Korea Consumer Agency and donated them on Wednesday to the Korea Blind Union. The donated items include 10,040 tags and 10,000 stickers, with a total value of 170 million won ($120,000). The tags can be attached to the necks of the company’s detergent products and come in blue, yellow and red, representing detergent, fabric softener and shampoo, respectively. The stickers are designed for smaller containers, such as cosmetic cases. P&G Korea said the Korea Blind Union’s 17 offices nationwide will distribute the helpful items to households with visual impairments. In addition to useful aids for visually impaired consumers, the company also donated shampoo and fabric softener products under its flagship brands, Head & Shoulders and Downy, worth 22 million won. Accordi

Oct 19, 2025By Ko Dong-hwan
P&G Korea enhances accessibility with braille-tagged household goods
APEC 2025

Jensen Huang, global tech leaders to attend APEC CEO Summit

Leaders of global companies will gather in Gyeongju for the Asia-Pacific Economic Cooperation (APEC) CEO Summit, which will begin its four-day gathering on Oct. 28. They will seek ways to cooperate and develop business opportunities centered on artificial intelligence (AI), carbon neutrality, and sustainable value chains. Industry moguls, including Jensen Huang, founder and CEO of AI accelerator giant Nvidia, along with leaders from the technology, finance, manufacturing, energy and platform sectors, have confirmed their attendance in the city in North Gyeongsang Province. Along with Korean global conglomerates like Samsung Electronics, SK Group, Hyundai Motor and LG Group, about 1,700 representatives from the world's leading businesses are set to join the event. The biggest point of interest is Huang’s visit to Korea. Although Nvidia relies on Korean chipmakers like Samsung Electronics and SK hynix as key memory suppliers, this will be the AI guru's first trip to the country in 15 years. According to the event's organizers, Huang is set to deliver his speech during a special session

Oct 19, 2025By Ko Dong-hwan
Jensen Huang, global tech leaders to attend APEC CEO Summit
Banking & Finance

KSD runs startup accelerator program to offer mentoring, investment opportunities

The Korea Securities Depository (KSD) is expanding its “K-Camp,” a startup accelerator program, in a move to promote balanced growth of the startup ecosystem across the country, the stock and bonds deposit service provider said Sunday. The program launched in 2019 seeks to provide mentorship and investment opportunities to budding startups located outside Seoul and Gyeonggi Province. It has created jobs and attracted investment, establishing itself as a model for sustainable startup development — one that balances capital mobilization, talent distribution and balanced regional economic growth, according to the KSD. "K-Camp's role will be expanded to identifying and fostering innovation-driven industry players. Its mission is to address the longstanding imbalance in Seoul-centralized startup investment landscape," the company said. It operates in five regions — Daejeon, Gwangju, Daegu, Gangwon Province and Jeju Island. Budding startups founded within the past six years are provided with tailored mentoring, investment matchmaking and post-program assistance. Over 308 startups have co

Oct 19, 2025By Lee Kyung-min
KSD runs startup accelerator program to offer mentoring, investment opportunities
Companies

Major cinema chains close theaters amid box office slump

CGV, the country's largest multiplex chain, has recently announced the closure of a landmark cinema in downtown Seoul's Myeongdong district amid dwindling audience numbers, in a telling sign of the challenges gripping the local film industry. CGV said earlier this month that its Myeongdong Station Cine Library will stop operations after Oct. 29. The closure is symbolic as the venue is the country's first cinema that integrates an art-house theater and a movie library, offering a unique space where visitors can both watch films and explore books about cinema. The company cited "structural challenges in urban commercial areas following the COVID-19 pandemic and operational inefficiency" as the primary reasons for the shutdown. CGV has already closed 12 theaters nationwide so far this year, triple the number from last year, to improve profit margins by focusing on high-end cinematic experiences and enhanced service quality. Another movie chain Megabox has also recently announced the closure of its Seongsu branch. The shutdowns reflect a severe industry-wide slump. According to a recent report

Oct 19, 2025By Yonhap
Major cinema chains close theaters amid box office slump
Companies

Hyundai Motor's sales in European market expand amid US tariffs

Sales of Hyundai Motor have been expanding in the European market in recent months, even as the company struggles in the United States due to tariffs, data showed Sunday. In Austria, Hyundai Motor sold 1,966 passenger cars in September, up 102 percent from a year earlier, ranking third in market share at 7.6 percent, according to the company's investor relations report. Its flagship sport utility vehicle (SUV), Tucson, was the bestselling model with 455 units sold last month. Cumulative sales from January through September climbed 28 percent on-year to 8,604 units. Hyundai Motor sold 11,354 cars last year in Austria, ranking sixth. In Germany, Hyundai Motor's large electric SUV, the Ioniq 9, has been named the top premium car by the German Car of the Year 2026 Award, beating out other luxury brands such as Mercedes-Benz and BMW. The model received the honor just three months after its launch in the European market. Hyundai Motor plans to strengthen its presence in Europe along with both its electric vehicles (EVs) and gasoline-powered models tailored to local demand, including the i20 and i

Oct 19, 2025By Yonhap
Hyundai Motor's sales in European market expand amid US tariffs
Banking & Finance

KB Financial explores support strategies for advanced industries, startups at GITEX Global 2025

KB Financial Group dispatched a delegation to GITEX Global 2025, the world’s largest ICT exhibition hosted by the Dubai Digital Authority, from Monday to Friday at the Dubai World Trade Centre, the group said Sunday. In attendance were over 6,500 firms, investors and institutions from more than 180 countries. They showcased next-generation technologies and industry trends, sharing strategies for driving digital innovation and securing future growth engines. The group’s participation sought to strengthen commercialization and global expansion of startups, as mediated by the KB Starters program, the group’s initiative to foster budding, high-potential industry players. The delegation led by Lee Chang-kwon, KB Financial’s head of digital & IT, met with local venture capital firms and government-affiliated organizations to discuss digital finance corporation. They visited the booths of autonomous driving startups to explore growth strategies for high-tech industries and startups. KB officials focused on gaining deeper insights into industry dynamics across artificial intelligence (AI)

Oct 19, 2025By Lee Kyung-min
KB Financial explores support strategies for advanced industries, startups at GITEX Global 2025
Companies

SK hynix expected to post over $7 bil. in Q3 profit for 1st time: poll

Chip giant SK hynix is expected to post more than 10 trillion won ($7 billion) in operating profit for the third quarter for the first time in its history, a survey showed Sunday. According to a poll by Yonhap Infomax, SK hynix is forecast to record 24.5 trillion won in sales and 11.3 trillion won in operating profit for the July-September period. The figure would surpass the company's previous quarterly records of 22.2 trillion won in sales and 9.2 trillion won in operating profit set in the second quarter. It would mark the first time SK hynix has exceeded the 10 trillion-won milestone in quarterly operating profit since the company was acquired by SK Group in 2012. In Korea, only Samsung Electronics has achieved that level. SK hynix's record-breaking performance is attributed to rising global demand for high bandwidth memory (HBM) amid the artificial intelligence (AI) boom and higher prices of dynamic random access memory (DRAM) chips. "Sales of 12-layer HBM3E products, which account for more than 50 percent of SK hynix's HBM sales, along with solid prices for legacy memory chips, have

Oct 19, 2025By Yonhap
SK hynix expected to post over $7 bil. in Q3 profit for 1st time: poll
Companies

Starbucks Korea earns $28.7 mil. in interest from $1.8 bil. in prepaid cards in past 6 years: report

A total of 2.6 trillion won ($1.8 billion) has been loaded onto Starbucks Korea's prepaid cards over the past six years, generating 40.8 billion won in interest and investment income, a parliamentary report showed Sunday. According to the report compiled by the Financial Supervisory Service (FSS) and submitted to Rep. Kang Min-kuk, the total value of prepaid transactions reached 2.6 trillion won across more than 81.1 million transactions between January 2020 and August 2025. Prepayments have risen sharply in recent years from 184.8 billion won in 2020 to 340.2 billion won in 2021, 440.2 billion won in 2022, 545 billion won in 2023 and 660.3 billion won in 2024. Some 454.4 billion won was added to Starbucks Cards through August this year, with the remaining balance reaching 401.4 billion won as of end-August, up from 180.1 billion won at the end of 2020. Since 2020, Starbucks Korea has earned 40.8 billion won in interest income by investing prepaid card funds in deposits and trusts. Of the total, 1.08 trillion won, or 60.5 percent, was deposited in banks, while the rest was invested in non

Oct 19, 2025By Yonhap
Starbucks Korea earns $28.7 mil. in interest from $1.8 bil. in prepaid cards in past 6 years: report
Companies

Coupang tops FTC fine among Korean conglomerates over past 3 years: report

Coupang Inc., a leading e-commerce company in South Korea, has received the largest amount of fines from the Fair Trade Commission (FTC) among conglomerates over the past three years, a parliamentary report showed Sunday. According to the report compiled by the FTC and submitted to Rep. Choo Kyung-ho of the main opposition People Power Party, Coupang was fined a total of 162.8 billion won ($114.3 million) from the first half of 2022 to the first half of this year. Last year, the FTC imposed the fine on the company for manipulating search algorithms to boost the "Coupang ranking" of its private-label and directly purchased products. Top carmaker Hyundai Motor Group followed with cumulative fines of 119.4 billion won, trailed by poultry-processing company Harim Group with 101.6 billion won and SK Group with 64.5 billion won. The top 10 conglomerates were fined a combined 744.6 billion won during the three-year period. Hyundai Department Store Group recorded the highest number of violations, 38 in total, mostly due to multiple collusion cases involving its furniture affiliate Hyundai Livart

Oct 19, 2025By Yonhap
Coupang tops FTC fine among Korean conglomerates over past 3 years: report
Companies

LG Innotek CEO shares career insights with KAIST students

LG Innotek CEO Moon Hyuk-soo shared his career journey from starting as an engineer to becoming CEO to students at his alma mater, the Korea Advanced Institute of Science & Technology (KAIST), the auto parts company said Sunday. Moon gave a lecture at KAIST’s Daejeon campus on Friday, discussing his experiences and ideas on career transitioning with more than 200 master’s students in attendance. Moon earned his bachelor’s, master’s and doctoral degrees at KAIST and joined LG Cable — now LS Cable — in 1998, before moving to LG Innotek in 2009. At LG Innotek, he led the optical solutions business as a camera module expert. In 2023, he was appointed chief strategy officer and later that year became CEO. “You may think making good products is the ultimate goal for an engineer, but I believe it means little if you can’t sell them properly to customers,” Moon said. “I found it fascinating to meet customers in person, understand their needs and create added value for our products. My experience as an engineer helped me quickly grasp what customers wanted as a business leade

Oct 19, 2025By Nam Hyun-woo
LG Innotek CEO shares career insights with KAIST students
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