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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

POSCO Future M secures $470 mil. anode material deal with global automaker

Energy firm POSCO Future M will supply secondary battery materials to a major automobile company for up to 10 years starting in 2027, clinching a deal worth 671 billion won ($470 million). The POSCO Group subsidiary said Tuesday it will supply secondary battery anode materials to a company whose name was withheld under the contract’s confidentiality terms. The deal’s value covers only the first four years but is still the largest since the company entered the anode material business in 2011. The deal comes as the global electric vehicle (EV) industry faces growing demand for diversified supply chains for anode materials. So far, Chinese firms have dominated the global anode material market, accounting for all of the top 10 suppliers and 80 percent of global market share. To reduce reliance on inexpensive Chinese anode materials, the United States plans to impose high tariffs on these imports. China, in turn, is seeking to tighten control over the export of strategic materials and finished secondary batteries to restrict supplies to the U.S. if necessary. POSCO Future M ranks as the wo

Oct 14, 2025By Ko Dong-hwan
POSCO Future M secures $470 mil. anode material deal with global automaker
Companies

China sanctions Hanwha Ocean to retaliate against US port fees

Hanwha Ocean’s five U.S. affiliates have come under Chinese government sanctions, following the Korean company’s alleged support for the U.S. government’s investigation into Chinese competitors and the resulting imposition of new port fees. With the new fees taking effect Tuesday, China’s Ministry of Commerce said the same day that organizations and individuals within the country are banned from engaging in transactions, cooperation or any activities with Hanwha Shipping, Hanwha Philly Shipyard, Hanwha Ocean USA International, Hanwha Shipping Holdings or HS USA Holdings Corp. Of the companies, Hanwha Philly Shipyard is a symbolic site of the shipbuilding cooperation between Korea and the U.S. President Lee Jae Myung visited the shipyard during his trip to the U.S. in August. “Hanwha Ocean’s U.S. subsidiaries have helped and supported the U.S. government’s investigations, which endanger our country’s sovereignty, security and interests,” the Chinese ministry said in a release. The ministry also claimed that the U.S. Section 301 investigation and follow-up actions against

Oct 14, 2025By Park Jae-hyuk
China sanctions Hanwha Ocean to retaliate against US port fees
Companies

LG Electronics India makes debut on Indian stock market

LG Electronics India (LGEI) began trading on the local stock market Tuesday (local time), with the listing bringing in 1.8 trillion won ($1.26 billion) in proceeds for its headquarters. LG Electronics headquarters renewed its commitment to the Indian market, announcing the company's “Make for India” vision and showcasing four new home appliances tailored to local lifestyles. The company said it held a listing ceremony for LG Electronics India (LGEI) at the National Stock Exchange of India (NSE) in Mumbai, attended by LG Electronics CEO Cho Joo-wan, Chief Financial Officer Kim Chang-tae, LGEI Managing Director Jeon Hong-ju and other top executives. Cho and NSE CEO Ashish Chauhan struck the ceremonial bell at 10 a.m. to mark the start of trading for LGEI. For the listing, LG Electronics unloaded a 15 percent stake, or 101.8 million shares, in LGEI in an offer for sale at 1,140 rupees per share, which was the top end of the subscription price band. The subscription drew the largest amount of funds in India’s initial public offering market since 2008, with bids totaling 54 times the s

Oct 14, 2025By Nam Hyun-woo
LG Electronics India makes debut on Indian stock market
Banking & Finance

Hana Bank, Incheon establish 'culture bank' for foreign nationals

Hana Bank said Tuesday it signed a memorandum of understanding with Incheon to jointly operate a "culture bank" for foreign nationals. Through this partnership, Hana Bank and Incheon aim to create a hub that helps foreign nationals residing in Incheon integrate into the local community and achieve self-reliance through financial and cultural support. Hana Bank will provide financial fraud prevention training, hands-on digital finance education tailored for foreign nationals and customized services to help them better understand and use Korea's financial systems. Additionally, in collaboration with Incheon and other operating organizations, the program will offer step-by-step Korean language courses designed to support settlement and employment, assist with community activities such as multicultural clubs, and provide education on Korean culture and lifestyle. The new hub is located within Hana Bank's Namdong Industrial Complex Financial Center branch, making it easily accessible to foreign workers employed in the industrial complex. It will also operate on Sundays to improve accessibilit

Oct 14, 2025By Lee Yeon-woo
Hana Bank, Incheon establish 'culture bank' for foreign nationals
Companies

Hyundai Motor explores deeper ties with Toyota to counter US tariff risks

Hyundai Motor Group Executive Chair Chung Euisun is expected to explore new business opportunities in a possible meeting with executives from Toyota Motor on the sidelines of this year’s Trilateral Executive Dialogue (TED) in Tokyo. Chung and a group of Korean business moguls will attend the two-day economic dialogue starting Tuesday. This year’s TED holds strategic importance to both Korea and Japan, as they are now exposed to mounting external trade risks triggered by tariffs from the United States. Hyundai Motor and Japan’s Toyota in particular find themselves in the same position, as the U.S. decided to impose auto import tariffs of 15 percent to Korea and Japan. This has forced both automakers to shoulder unexpected costs for their U.S. businesses. Following multiple meetings between top management of the two firms last year, there stands a possibility for Chung to meet with Toyota Motor Chairman Akio Toyota during his visit to the Japanese capital. In October last year, the Toyota chairman visited Korea to attend the Hyundai N x TOYOTA GAZOO Racing Festival and discussed pote

Oct 14, 2025By Lee Min-hyung
Hyundai Motor explores deeper ties with Toyota to counter US tariff risks
Banking & Finance

Euljiro 4-ga Station becomes Kbank Station: Internet bank secures subway naming rights

Kbank has become the first internet-only bank in Korea to secure naming rights for a subway station in Seoul, the company said Tuesday. Euljiro 4-ga Station on lines 2 and 5 will be co-branded as Euljiro 4-ga (Kbank) starting this December under its contract with Seoul Metro. The name will be displayed across various transit platforms, including subway signs, train announcements and route maps. The agreement is set to last three years through the end of 2028. The station renaming is expected to provide subway riders with regular exposure to the bank’s brand, boosting both its visibility and customer familiarity. Kbank’s headquarters is located in the Euljiro area, a key business hub in central Seoul, home to numerous financial institutions and corporate headquarters. The area also attracts a vibrant crowd of young people and office workers thanks to its trendy dining spots. Notably, Euljiro 4-ga Station, where lines 2 and 5 intersect, serves as a bustling transfer point with heavy foot traffic. In addition to the station naming initiative, Kbank stands out as the only internet-only ba

Oct 14, 2025By Jun Ji-hye
Euljiro 4-ga Station becomes Kbank Station: Internet bank secures subway naming rights
Business

Flood of fake K-pop goods disrupts local businesses: lawmakers

An influx of counterfeit K-pop merchandise is surging in tandem with the global rise of Korean popular culture, significantly disrupting Korea's consumer market — particularly impacting local sellers, lawmakers said Tuesday. Lawmakers from Korea’s two main rival political parties said a flood of imported goods from China and other countries is undercutting local vendors by offering lower prices and using mainstream distribution channels. They warned that this worrying trend poses a threat to the country’s cultural industry, a major driving force behind Korea’s global influence. According to Rep. Jeong Dong-man of the main opposition People Power Party, over 29,000 counterfeit goods were confiscated at concert and festival venues here from January to August. The data was provided by the Ministry of Intellectual Property. The figure is more than eight times that of the whole of last year, when 3,576 counterfeit items were confiscated. This year’s counterfeit items mostly included posters, photo cards, tumblers and key rings inspired by K-pop stars, accounting for 97.5 percent of

Oct 14, 2025By Ko Dong-hwan
Flood of fake K-pop goods disrupts local businesses: lawmakers
Companies

Samsung to offer stock compensation to employees amid market-beating earnings

Samsung Electronics said Tuesday it plans to offer shares to its employees under a new compensation program after the company was expected to have posted market-beating earnings in the third quarter. The Korean tech giant made the announcement to employees, noting that it will implement a performance stock units (PSU) program, under which workers will receive higher compensation depending on Samsung's stock performance. The notice came after Samsung Electronics released an earnings guidance earlier in the day, suggesting it expects an operating profit of 12.1 trillion won ($8.5 billion) for the quarter ending in September, which would mark a 31.8 percent spike from the 9.18 trillion won tallied a year earlier. It would also mark the largest quarterly earnings since the second quarter of 2022, when the company posted a 14.1 trillion-won operating profit. Under the PSU program, Samsung will allocate 200 to 300 shares to each of its employees depending on their career level, with the exact amount to be determined based on the company's stock performance on the main index. The shares will be

Oct 14, 2025By Yonhap
Samsung to offer stock compensation to employees amid market-beating earnings
Companies

Hanwha to light up Gyeongju night sky with fireworks, drones

Hanwha Group has pledged full support for the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting set for later this month in Gyeongju, North Gyeongsang Province. The conglomerate said Tuesday it will stage a fireworks and drone light show during the gala dinner for summit participants on Oct. 31. It plans to launch 50,000 fireworks and illuminate the Gyeongju night sky with 2,000 drones, while also funding safety and environmental management for the event. Hanwha Group previously staged fireworks displays at major international events in Korea, including the 1986 Asian Games, 1988 Summer Olympics, 2002 FIFA World Cup, APEC South Korea 2005 and 2018 Winter Olympics. “In addition to fireworks, this performance will feature aerial and waterborne drones powered by information and communication technology and media art,” a Hanwha Group official said. “We aim to portray Korea as a cultural powerhouse inheriting a thousand years of tradition from Silla (an ancient Korean kingdom that set up its capital in Gyeongju) and moving boldly toward the future.” Hanwha Group will a

Oct 14, 2025By Park Jae-hyuk
Hanwha to light up Gyeongju night sky with fireworks, drones
Tech & Science

Naver launches CEO-led task force to drive future tech ventures

Naver has launched a new task force under its CEO Choi Soo-yeon to drive the development and business expansion of next-generation technologies, including artificial intelligence (AI), digital twins and smart cities. The company established R-TF, short for Revolution-Task Force, through an organizational restructuring earlier this month. The team is created to leverage the research and technological achievements of Naver Labs, the tech giant’s advanced technology research subsidiary, across Naver’s services and business operations, accelerating the large-scale commercialization of cutting-edge innovations. R-TF will also work to drive the company’s global expansion into business-to-business and business-to-government markets, while leading efforts to develop and commercialize emerging technologies such as physical AI. Naver Labs CEO Seok Sang-ok will head the task force. He has overseen the company’s core technology research and commercialization initiatives. Seok was responsible for the design of Naver 1784 — the world’s first robot-friendly smart building — in Gyeonggi Pr

Oct 14, 2025By Lee Gyu-lee
Naver launches CEO-led task force to drive future tech ventures
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