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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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Tech & Science

Science, industry, SME ministries sign MOU to collaborate on AI transformation

Government ministries for science, industry and small and medium-sized enterprises (SMEs) on Wednesday signed a memorandum of understanding (MOU) to enhance artificial intelligence (AI) transformation across domestic industries, the ministries said. The Ministry of Science and ICT, the Ministry of Trade, Industry and Resources and the Ministry of SMEs and Startups agreed that the government should take an active role as the rapid advancement of AI technology brings a new paradigm across industries, while local companies still lag behind the trend. Under the MOU, the ministries pledged to pool their expertise and capabilities to develop interconnected policies aimed at accelerating the national AI transition, fostering new markets through AI integration and supporting the growth of AI startups and SMEs over the next three years. To ensure effective cooperation, the three ministries will set up a policy council and hold regular technical exchange meetings with experts. "We must combine AI with Korea's manufacturing strengths to develop globally competitive technological capabilities," Scie

Oct 15, 2025By Yonhap
Science, industry, SME ministries sign MOU to collaborate on AI transformation
APEC 2025

Hyundai Motor Group to provide 192 protocol vehicles for APEC summit

Hyundai Motor Group will provide a fleet of 192 protocol vehicles for the upcoming Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, North Gyeongsang Province. The Korean carmaker will offer the vehicles for heads of state from the APEC participating economies and their business delegations. The event runs for two days from Oct. 31 to Nov. 1. A total of 113 G90 luxury sedans from Genesis will be used for the protocol of the leaders and first ladies. The premium automaker under the group also plans to dispatch 74 G80 sedans to carry ministerial-level officials from each participating country. Hyundai Motor Group hopes to utilize the upcoming event as an opportunity to elevate its global footing and enhance its brand awareness. “We are pleased to provide our vehicles for APEC 2025, which is held in Korea for the first time in two decades,” said Kim Il-beom, executive vice president at Hyundai Motor’s Global Policy Office. “Hyundai Motor Group will also make concerted efforts for the successful hosting of the APEC summit.” Hyundai Motor also hopes to strengthen its brand

Oct 15, 2025By Lee Min-hyung
Hyundai Motor Group to provide 192 protocol vehicles for APEC summit
Companies

3 carmakers to recall over 42,000 vehicles due to faulty parts

Hyundai Motor Co., KG Mobility Corp. and Stellantis Korea Co. will voluntarily recall more than 42,000 vehicles to address various component defects, the transport ministry said Wednesday. The three companies are recalling a combined 42,388 units across four different models, the Ministry of Land, Infrastructure and Transport said in a press release. The recalls were issued due to several defects, including a faulty charging door in Hyundai Motor's Ioniq 6 model, a possible power outage during driving caused by a defective high-voltage control system in KG Mobility's Musso EV, and a malfunction in the power electric system of the Jeep Grand Cherokee SUV imported by Stellantis Korea, according to the ministry. Stellantis is a 50:50 joint venture established through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. and French automaker PSA Group. Vehicle owners can check whether their vehicles are subject to the recall by visiting the government website (www.car.go.kr) or calling 080-357-2500.

Oct 15, 2025By Yonhap
3 carmakers to recall over 42,000 vehicles due to faulty parts
Companies

HYBE founder Bang Si-hyuk tops stock wealth among new listed firm founders: data

Bang Si-hyuk, chairman and founder of K-pop powerhouse HYBE, ranked No. 1 in stock value among founders of companies listed over the past five years, industry data showed Wednesday. According to the data from corporate tracker CEO Score, Bang held a 31.6 percent stake in HYBE, worth 3.5 trillion won ($2.5 billion), as of the end of September. His holdings accounted for 15.6 percent of the combined 22.5 trillion won in stock value owned by the top 100 businesspeople whose companies have gone public since 2020. Kim Byung-hoon, founder and chief executive officer of beauty tech firm APR, followed with 3 trillion won, trailed by Chang Byung-gyu of gamemaker Krafton with 2.1 trillion won and Park Dong-suk of Sanil Electric with 1.2 trillion won. Prestige BioPharma founder Park So-yeon and Inventage Lab Inc. founder Kim Ju-hee were the only two women on the list.

Oct 15, 2025By Yonhap
HYBE founder Bang Si-hyuk tops stock wealth among new listed firm founders: data
Companies

Korens tapped for gov’t-backed AI manufacturing initiative

Korens, an auto parts maker specializing in exhaust gas recirculation (EGR) components, has been selected for the government-backed artificial intelligence (AI) manufacturing support program, the company said Tuesday. The company is best known for its EGR cooling products, in which Korens maintains the world’s largest market share. Korens’ participation in the government-led project will allow the company to transform its factory into one powered by AI and energy innovation. The firm aims to implement a Korean-style AI system to make decisions and operate autonomously without human intervention. Korens expects the application of the AI system to yield significant improvements in its overall manufacturing process, including a 60 percent reduction in process setup time, a 50 percent decrease in defect rates and more than 30 percent lower dependency on manual labor, according to the company. The company is also on track to modernize its production lines. The company is now deploying digital twin technology to create a virtual replica of its factory. This allows the firm to simulate equip

Oct 15, 2025By Lee Min-hyung
Korens tapped for gov’t-backed AI manufacturing initiative
Business

Gov’t spokesman goes all out for trendy appeal

In August, the Ministry of Agriculture, Food and Rural Affairs posted a short clip on YouTube titled “Soda Pop Dance Challenge,” drawing on a global online dance trend popularized by Saja Boys, a fictional K-pop boy band from Netflix’s blockbuster hit "KPop Demon Hunters." Yet the real punchline of the 24-second clip comes from one of the four dancers: the ministry’s spokesman Jeon Han-young. Clad in a rambunctious outfit mimicking the boy band’s main dancer, Abby, the 55-year-old steals the scene as he shuffles alongside much younger interns from the ministry. The clip, which had surpassed 110,000 views as of Monday, is more than just a lighthearted attempt to rack up clicks on the ministry’s social media. Posted five days ahead of the 2025 Asia-Pacific Economic Cooperation (APEC) Food Security Ministerial Meeting in Incheon, Jeon danced his colorful shirt off to promote the event and its theme: “Driving Innovation in Agri-Food Systems for Shared Prosperity.” Jeon said the clip was intended to draw public interest in the ministerial meeting by making it “more global,

Oct 15, 2025By Ko Dong-hwan
Gov’t spokesman goes all out for trendy appeal
Companies

Korea in communication with China over Beijing's sanctions on Hanwha Ocean's US-based units

Korea is in communication with China to minimize the impact from Beijing's move to sanction Korean shipbuilder Hanwha Ocean's U.S.-based units, the presidential office said Tuesday. Earlier in the day, China announced it would impose retaliatory measures against Hanwha Ocean's five U.S.-based subsidiaries, accusing them of cooperating with a U.S. investigation targeting China's maritime and shipbuilding industries. "In order to minimize harm, communication and response measures are taking place by activating the Korea-China trade channel," the office said. "It is difficult to predict the possibility of additional sanctions, but we will closely monitor (the situation)." It said the immediate impact from the announcement appears to be limited as Hanwha Ocean does not have many businesses with Chinese companies but noted it would assess whether the measures could impact Seoul's shipbuilding cooperation initiative with the United States. China's measures include prohibiting Chinese individuals and organizations from engaging in transactions or cooperation with the U.S. units of Hanwha.

Oct 14, 2025By Yonhap
Korea in communication with China over Beijing's sanctions on Hanwha Ocean's US-based units
Tech & Science

Google announces $15 bil. investment in AI hub in India meant to drive digital transformation

NEW DELHI — Google announced on Tuesday that it will invest $15 billion in India over the next five years to establish its first artificial intelligence hub in the country. Located in the southern city of Visakhapatnam, the hub will be one of Google’s largest globally. It will feature gigawatt-scale data center operations, extensive energy infrastructure and an expanded fiber-optic network, the company said in a statement. The investment underscores Google’s growing reliance on India as a key technology and talent base in the global race for AI dominance. For India, it brings in high-value infrastructure and foreign investment at a scale that can accelerate its digital transformation ambitions. Google said its AI hub investment will include construction of a new international subsea gateway that would connect to the company’s more than 3.2 million kilometers of existing terrestrial and subsea cables. “The initiative creates substantial economic and societal opportunities for both India and the United States, while pioneering a generational shift in AI capability,” the company

Oct 14, 2025By AP
Google announces $15 bil. investment in AI hub in India meant to drive digital transformation
Banking & Finance

MBK chairman apologizes for Homeplus fiasco during first appearance at Assembly audit

Michael ByungJu Kim, chairman of MBK Partners, Homeplus’ largest shareholder, made his first appearance at a National Assembly audit Tuesday, offering a public apology for the corporate rehabilitation case of the country’s second-largest supermarket chain. “We regret causing concern to the public,” he said during an audit by the Assembly’s National Policy Committee. “We are committed to fulfilling our social responsibility toward Homeplus employees and stakeholders.” Homeplus, which filed for corporate rehabilitation in March amid a liquidity crunch, has been unable to secure a new owner for more than seven months. The situation has drawn national attention, particularly after the decision to close 15 stores nationwide that failed to reach rent agreements, sparking strong backlash from local residents. In addition to the Homeplus case, the private equity firm has been involved in other high-profile matters, including the management rights dispute with Korea Zinc, in which it joined forces with Young Poong to oust company Chairman Choi Yun-beom. MBK has also faced criticism

Oct 14, 2025By Jun Ji-hye
MBK chairman apologizes for Homeplus fiasco during first appearance at Assembly audit
Tech & Science

KT, Palantir CEOs discuss further data platform collaboration

The CEOs of KT and Palantir Technologies held their first meeting in Korea, Tuesday, to discuss ways to expand the use of Palantir’s platform across local industries. At the meeting, held at KT’s headquarters in Seoul, the company’s CEO Kim Young-shub and Palantir CEO Alex Karp reviewed the progress of the two companies’ joint initiatives to deploy Palantir’s data platforms and refined execution strategies to scale these solutions across Korean enterprises. In March, KT inked a partnership agreement with Palantir, becoming the U.S. data processing giant's first premium partner in Korea. It has been aiming to expand its presence in the local market by leveraging KT’s network infrastructure and understanding of Korea’s artificial intelligence (AI) transformation environment. “KT’s collaboration with Palantir will become a success story leading AI transformation innovation across major Korean industries,” Kim said. “We will continue to support expanding effective, data-driven decision-making powered by AI across various industrial sectors.” Coinciding with Karp’s v

Oct 14, 2025By Lee Gyu-lee
KT, Palantir CEOs discuss further data platform collaboration
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