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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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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

Top court dismisses $970 mil. settlement in SK chief’s divorce case

The Supreme Court on Thursday remanded a high court ruling in the divorce case of SK Group Chairman Chey Tae-won and his estranged wife, Roh Soh-yeong, overturning a May 2024 decision that ordered Chey to pay 1.38 trillion won ($970 million) to Roh as a settlement. Viewed as one of the highest-profile divorce cases in Korean history, the trial drew intense scrutiny as its outcome could have compelled Chey to sell a large portion of his holdings in Korea’s second-largest conglomerate, potentially altering his control over SK Group and fundamentally changing its ownership structure. With the top court’s reversal, the case will be reviewed again in the high court to recalculate the settlement amount. The schedule has yet to be determined, but the amount is expected to be lower than 1.38 trillion won as the Supreme Court dismissed most of the grounds behind the high court’s favorable ruling for Roh. In their decision, the justices said the court was overturning the high court’s ruling on property division, which ordered Chey to pay Roh 1.38 trillion won, while upholding an alimony p

Oct 16, 2025By Nam Hyun-woo
Top court dismisses $970 mil. settlement in SK chief’s divorce case
Companies

Korea makes last-minute efforts as optimism grows over US tariff deal

Seoul's top trade negotiators expressed optimism over the possibility of reaching a tariff agreement with the United States soon, even before the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting scheduled to begin later this month in Gyeongju, North Gyeongsang Province. Amid signs of rapid progress after months of stalemate in the negotiations, they headed to Washington this week to finalize the talks, with both sides committed to accelerating efforts to break the deadlock. Kim Yong-beom, the presidential chief of staff for policy, said Thursday the government is "hopeful" about wrapping up negotiations soon. "Relevant U.S. departments, including the Department of the Treasury, the Department of Commerce and the Office of the U.S. Trade Representative (USTR), appear to be communicating much more closely with one another," he told reporters at Incheon International Airport. Kim made the remarks before departing for Washington to attend follow-up negotiations on the July deal to lower Washington’s proposed blanket duties on Korean products from 25 percent to 15 percen

Oct 16, 2025By Park Jae-hyuk
Korea makes last-minute efforts as optimism grows over US tariff deal
Tech & Science

YouTube service normalized after temporary disruption in Korea

YouTube service was normalized after experiencing a temporary disruption in Korea on Thursday, which had affected playback on both mobile and desktop devices, according to industry watchers. Earlier in the day, an error prevented some users from playing videos when accessing the platform via the YouTube mobile app. Some desktop computer users had also experienced similar issues. The service appeared to have been largely restored as of around 9:30 a.m. The temporary disruption affected some users of YouTube Music as well and was believed to be part of a broader global outage. Google later issued a statement confirming that the disruption has been resolved across all YouTube services and thanked users for their patience. YouTube, operated by Google, is the most widely used video platform in Korea. According to government officials, the service disruption is estimated to have lasted from 8:17 a.m. to 9:19 a.m. The outage was believed to have been caused by an error during a spam prevention system update. Google Korea notified the science ministry of the error at 9:01 a.m. Under current regula

Oct 16, 2025By Yonhap
YouTube service normalized after temporary disruption in Korea
Tech & Science

Kakao Mobility launches Korea’s 1st robot valet service

Kakao Mobility has launched Korea’s first robot valet parking service, using advanced parking robot technology to deliver a practical and accessible mobility solution. The company announced Wednesday that it has installed a robotic parking system at the parking lot of Chungbuk Content Enterprise Promotion Center in Cheongju, in partnership with HL Robotics, North Chungcheong Province and Chungbuk Innovation Institute of Science & Technology. The service comes as a result of Kakao Mobility’s collaboration with HL Robotics following the partnership agreement in May to commercialize autonomous parking robot technology. “In turning high-precision parking robots into a convenient real-world service, we drew on our strengths as a comprehensive mobility-as-a-service platform,” a Kakao Mobility official said. “We’ll continue to refine our platform to ensure that the benefits of advanced mobility technologies reach everyday users.” To use the system, drivers simply leave their vehicle within the yellow lines of the designated robot valet zone. After verifying their license plate and

Oct 16, 2025By Lee Gyu-lee
Kakao Mobility launches Korea’s 1st robot valet service
Banking & Finance

InterviewKorea's digital economy, advanced payment systems bolster global crypto leadership

Asia is moving fast to turn stablecoins from niche payment tools into core financial infrastructure. Japan has already launched pilots where yen-backed stablecoins are used for securities settlement, with Singapore and Hong Kong laying down clear rules for bank-issued tokens. According to Maghnus Mareneck, co-CEO of Cosmos Labs, a U.S. blockchain firm, Korea has the right foundations to follow this path, boasting a highly digitized economy, advanced payment systems and consumers who are comfortable using digital wallets. “The opportunity for Korea is to extend its leadership in digital payments by positioning the Korean won as a trusted, valuable settlement currency in Asia’s digital economy, not limited to Korea, but integrated across the region,” Mareneck said in a recent interview with The Korea Times. “Cross-border pilots with Japan show that regional adoption is moving from theory to practice.” He expects stablecoins to become a key future settlement infrastructure for the Korean financial system in the next five years. “It is realistic and within reach. Over the next fiv

Oct 16, 2025By Lee Kyung-min
Korea's digital economy, advanced payment systems bolster global crypto leadership
Companies

Will governor's upcoming visit help Georgia regain Korea's trust?

Georgia Gov. Brian Kemp’s upcoming visit to Korea is drawing attention, as questions swirl about how he will address negative public sentiment stemming from the mass detention of Korean workers in early September at a construction site in his state. While his office has remained silent about the message he will share and whom he will meet during the trip later this month, calls from the Korean side are growing for Kemp to offer an immediate apology for the weeklong detention of more than 300 Korean workers. The detentions followed a major immigration raid at the construction site of a plant jointly run by Hyundai Motor and LG Energy Solution (LGES). According to sources familiar with the matter, Kemp's office has decided to hire the Korean subsidiary of a major global PR agency ahead of his third trip to Korea since his inauguration in 2019. This move has been seen as part of the U.S. state’s attempt to rebuild trust after the immigration raid. “To monitor and analyze Korean news reports during the governor’s visit, his office is looking for an agency with extensive experience i

Oct 16, 2025By Park Jae-hyuk
Will governor's upcoming visit help Georgia regain Korea's trust?
Companies

Korean business leaders to visit US amid AI project talks, trade negotiations

Heads of Korea's major conglomerates are set to travel to the United States this week at the invitation of SoftBank Group Chairman Masayoshi Son to discuss cooperation on a massive artificial intelligence (AI) infrastructure project, according to industry sources Wednesday. Son recently invited the heads of Samsung, SK, Hyundai Motor and LG to visit the U.S. as SoftBank pushes ahead with the US$500 billion Stargate project, aimed at building a network of AI data centers across the country in partnership with OpenAI and Oracle, according to the sources. Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun, currently in Japan for a trilateral economic dialogue involving Korea, the U.S. and Japan, are expected to head to the U.S. shortly. SK Group Chairman Chey Tae-won is reportedly scheduled to depart on Thursday, while LG Group Chairman Koo Kwang-mo is also expected to join the delegation. Their visit will coincide with the trip to Washington by presidential chief of staff for policy Kim Yong-beom and Industry Minister Kim Jung-kwan, who are slate

Oct 15, 2025By Yonhap
Korean business leaders to visit US amid AI project talks, trade negotiations
Tech & Science

BlackRock, Nvidia-backed group strikes $40 bil. data center deal to fuel AI boom

An investment consortium that includes BlackRock, Nvidia, xAI and Microsoft will acquire Aligned Data Centers in a deal worth $40 billion, the companies said on Wednesday. The deal underscores an intensifying race to expand the costly, supply-constrained infrastructure required to power artificial intelligence technology, as companies rush to build the most sophisticated AI models. The acquisition follows a slew of mega-deals focused on securing coveted compute capacity. ChatGPT creator OpenAI has in recent weeks unveiled agreements totaling about 26 gigawatts of computing capacity, enough to power roughly 20 million U.S. homes. The investment consortium, dubbed the Artificial Intelligence Infrastructure Partnership (AIP), has an initial target of deploying $30 billion of equity capital, with the potential of reaching $100 billion, including debt. This is AIP's first investment. The transaction is expected to close in the first half of 2026. "With this investment in Aligned Data Centers, we further our goal of delivering the infrastructure necessary to power the future of AI, " said Larry

Oct 15, 2025By Reuters
BlackRock, Nvidia-backed group strikes $40 bil. data center deal to fuel AI boom
Companies

With new warship, Hanwha Ocean aims to strengthen Korea’s naval edge

Hanwha Ocean unveiled its next-generation strategic surface warship designed to strengthen Korea’s naval capabilities and lead the country’s future K-defense sector. The company introduced the new model during the 3rd Advanced Naval Smart Tech Forum toward a Global Future: Innovation Waves, held Tuesday at The Plaza Hotel in Seoul. The event brought together around 100 participants, including Rep. Seo Il-jun, former Navy Chief of Staff Boo Suk-jong and experts from Korea and abroad to discuss future naval technologies and smart combat systems. During the forum, Charlie SC Eoh, president and COO of the naval ship business at Hanwha Ocean, unveiled the model and outlined its development background and key features. “As maritime power competition intensifies amid changing global security dynamics, a new class of naval platform is required,” Eoh said. “This vessel embodies Hanwha Ocean’s technology and commitment to innovation, setting a new milestone in Korea’s naval shipbuilding history.” The next-generation warship is designed to operate across multiple domains, including s

Oct 15, 2025By Bahk Eun-ji
With new warship, Hanwha Ocean aims to strengthen Korea’s naval edge
Companies

Celltrion wins New Zealand approval for autoimmune disease biosimilar

Korean biopharmaceutical company Celltrion said Wednesday its biosimilar for autoimmune diseases has received regulatory approval for sale in New Zealand. The New Zealand Medicines and Medical Devices Safety Authority (MEDSAFE) has approved Steqeyma, Celltrion's biosimilar referencing Stelara, for the treatment of psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis, the company said in a press release. Both the Steqeyma injection and Steqeyma prefilled syringe (PFS) formulations have been approved, it added. Steqeyma is the first Stelara biosimilar to receive approval in New Zealand, according to the company. "With this latest approval, Celltrion has secured a 'first-mover' position in New Zealand, one of the key markets in the Oceania region, giving the company an advantage in initial sales," a company official said. The global market for Stelara was valued at 30.33 trillion won ($21.7 billion) last year, the company said, citing data from market research firm IQVIA. With the latest approval, Celltrion's global biosimilar portfolio now includes 11 approved products. The

Oct 15, 2025By Yonhap
Celltrion wins New Zealand approval for autoimmune disease biosimilar
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