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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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Tech & Science

Gangnam Unni seeks to connect international customers with top beauty clinics

For those who have recently traveled to Seoul, there's a good chance of encountering posters featuring two women wearing futuristic eyewear, staring blankly ahead, plastered across billboards throughout the city. The women featured are model Jang Yoon-joo and actor Jeon Jong-seo, promoting Gangnam Unni, an aesthetic medicine platform that connects those seeking cosmetic treatments with clinics. The name Gangnam Unni literally translates into “sisters of Gangnam,” referencing the affluent Seoul district known for its concentration of plastic surgery clinics, and evokes the image of women well-versed in beauty and self-care. Regardless of debates surrounding cosmetic surgery or whether medical care should be subject to market forces — or even the stereotypes implied by the platform’s name — Gangnam Unni has emerged as a clear business success over its 10 years of operation, meeting the demand for greater transparency in beauty services. According to regulatory filings from Healing Paper, Gangnam Unni's operator, the company posted sales of 53 billion won ($37.8 million) last yea

Oct 7, 2025By Nam Hyun-woo
Gangnam Unni seeks to connect international customers with top beauty clinics
Companies

Korean Air partners with Sweden's Wingbits on advanced air mobility research

Korean Air Co., Korea's largest flag carrier, has signed a research cooperation agreement with Swedish flight-tracking company Wingbits to support airspace integration research for advanced air mobility (AAM), a release from the Stockholm-based company showed Tuesday. Under the agreement signed last month, Korean Air's research and development (R&D) center will gain access to Wingbits' real-time flight tracking data to advance the development and testing of the airline's in-house integrated air traffic control and routing coordination system. The collaboration is expected to bolster Korean Air's research into AAM and unmanned aircraft technologies, reinforcing its commitment to strengthening Korea's role as a global leader in aviation innovation. Wingbits will provide Korean Air with high-quality automatic dependent surveillance-broadcast (ADS-B) data covering the Incheon flight region, as well as portions of North America and Europe. Founded in Stockholm in 2023, Wingbits operates one of the world's fastest-growing encrypted flight tracking networks. Within its first year, it has achiev

Oct 7, 2025By Yonhap
Korean Air partners with Sweden's Wingbits on advanced air mobility research
Companies

Seoul grapples with stalled US tariff talks even during Chuseok holiday

Seoul has continued with efforts to break the deadlock in stalled tariff negotiations with Washington throughout the extended Chuseok holiday. Aiming to finalize details about the tariff negotiations ahead of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting scheduled for later this month in Gyeongju, North Gyeongsang Province, the government dispatched senior officials to the United States and held an emergency meeting to discuss countermeasures. Industry Minister Kim Jung-kwan, who returned Monday from an unannounced trip to meet U.S. Commerce Secretary Howard Lutnick in New York, said Washington understands Seoul's concern that Korea's foreign exchange market could be destabilized if the country accepts U.S. President Donald Trump's request to provide the proposed $350 billion investment fund in cash. Expressing optimism about additional meetings with the U.S. before the APEC summit, Kim said he expects to meet with Lutnick again soon. "Both sides have narrowed the gap concerning the foreign exchange market," Kim told reporters at Incheon International Airport. Sin

Oct 6, 2025By Park Jae-hyuk
Seoul grapples with stalled US tariff talks even during Chuseok holiday
Banking & Finance

Banks' Friday hour cut plan sparks customer concerns

Concerns are growing that consumers may face increased inconvenience after the workers' union and management in the financial sector reached an agreement in sector-wide negotiations to reduce Friday working hours by one hour. According to industry officials Sunday, the Korean Financial Industry Union (KFIU), which represents workers at major commercial and policy banks, and the Korea Financial Industry Employers Association reached a tentative agreement Thursday that includes a one-hour reduction in Friday working hours and a 3.1-percent wage increase. The deal was reached about a week after the KFIU initiated a full-scale strike, Sept. 26, calling for the introduction of a 4.5-day workweek. Regarding the implementation of this, the union and management agreed to establish a task force to continue discussions going forward. The employers’ association stressed that the one-hour early leave on Fridays is intended to be “applied flexibly according to each institution’s circumstances while maintaining current business hours,” emphasizing that the agreement does not automatically mea

Oct 5, 2025By Jun Ji-hye
Banks' Friday hour cut plan sparks customer concerns
Companies

Korean content industry grows 2.7% in Q1: report

Korea's content industry expanded 2.7 percent in the first quarter, driven by strong growth in the music and animation sectors, a report showed Saturday. According to a quarterly report by the Korea Creative Content Agency (KOCCA), the industry's sales reached 38 trillion won ($27.2 billion) in the January to March period, up from 37 trillion won a year earlier. The information technology sector led with 6.39 trillion won in sales, accounting for 16.8 percent of the total, followed by publishing with 6.1 trillion won in sales and gaming at 5.8 trillion won. The music sector recorded the fastest growth, surging 41.2 percent year-on-year to 3.6 trillion won, while the animation sector rose 16.5 percent to 289.6 billion won. By contrast, the film sector saw its quarterly sales decline 9.8 percent year-on-year to 1.3 trillion won, while gaming and broadcasting sales fell 8.3 percent and 6.2 percent, respectively. The KOCCA report also showed that Korea exported $3.1 billion worth of content in the first quarter amid rising demand for Korean TV titles and music. Overseas sales of Korean TV cont

Oct 5, 2025By Yonhap
Korean content industry grows 2.7% in Q1: report
Companies

LG Electronics India faces market test after Oct. 14 listing

The stock price of LG Electronics’ Indian unit is set to face tests after its listing on the Indian stock market Oct. 14, with both optimism and pessimism coexisting over the much-touted stock’s trajectory. Market watchers cast a rosy outlook for the fundamentals of LG Electronics India's (LGEI) business, citing its strong market dominance, profitability indicators and margin improvements that outpace rivals. At the same time, however, they point out that the momentum could be limited since the listing is an offer for sale (OFS) of shares previously held by LG Electronics headquarters, meaning none of the proceeds go to LGEI. According to LG Electronics regulatory filings and LGEI’s prospectus, LG Electronics will unload a 15 percent stake in LGEI at a price band between 1,080 and 1,140 rupees per share, which is expected to raise between 1.74 trillion won ($1.24 billion) and 1.84 trillion won. While the exact offering price will be set when the subscription finishes Oct. 9, multiple Indian media outlets expect it to be finalized at the upper end of the price band, citing demand f

Oct 4, 2025By Nam Hyun-woo
LG Electronics India faces market test after Oct. 14 listing
Companies

LG Energy Solution to resume biz trips to US following Georgia detention

LG Energy Solution, a leading battery maker, said Thursday it plans to gradually resume officials' business trips to the United States later this month, about a month after a mass detention in Georgia. The company has suspended all trips to the U.S. after 47 of its employees and some 250 subcontractor workers were detained in a U.S. immigration raid at a construction site for a joint Hyundai Motor-LG Energy Solution battery plant on Sept. 4. LG Energy Solution said the decision follows a working group meeting earlier this week in which Seoul and Washington clarified permissible activities for holders of B-1 short-term business visas. Under the agreement, Korean companies can use the B-1 visa for activities associated with their investment process in the U.S., such as installing, servicing and repairing equipment purchased from overseas. Those who enter the U.S. on an ESTA program may also engage in the same activities. The company stressed it will prioritize employee safety and provide systemic support. It currently operates or is building seven plants in the U.S. "We will do our best to c

Oct 2, 2025By Yonhap
LG Energy Solution to resume biz trips to US following Georgia detention
Companies

OpenAI officials tour Samsung Electronics' chip plant

OpenAI officials have toured Samsung Electronics' semiconductor manufacturing facilities in Korea following a partnership deal for its Stargate project, sources said Thursday. According to the sources, six research and development (R&D) staff from OpenAI visited Samsung Electronics' Pyeongtaek Campus, the company's largest chip plant located in Gyeonggi Province, on Wednesday. The site produces about half of Samsung Electronics' dynamic random access memory (DRAM) wafers. The visit followed a letter of intent (LOI) signed between Samsung Chairman Lee Jae-yong and OpenAI Chief Executive Officer (CEO) Sam Altman to collaborate in areas such as chips, data centers and cloud computing. Under the agreement, Samsung Electronics will support OpenAI's Stargate project with a stable supply of low-power memory chips. OpenAI is projected to require as many as 900,000 wafers of high-performance DRAM each month, underscoring the scale of the partnership.

Oct 2, 2025By Yonhap
OpenAI officials tour Samsung Electronics' chip plant
Companies

PHOTO Partnership for intellectual property protection

Kolmar Group Vice Chairman Yoon Sang-hyun, seventh from left, and Daren Tang, sixth from left, director general of the World Intellectual Property Organization, pose with officials from the Ministry of Intellectual Property at Kolmar Korea's R&D facility in Seoul, Wednesday. The cosmetics product manufacturer said Thursday that the specialized agency of the United Nations agreed to organize a dedicated team to boost cooperation with Kolmar and raise awareness about intellectual property protection among small cosmetics brands. Courtesy of Kolmar Holdings

Oct 2, 2025By Park Jae-hyukphoto
[PHOTO] Partnership for intellectual property protection
Companies

Race for 4th place heats up in Korean import car market

Lexus, Volvo and Audi are racing to secure the fourth sales spot and solidify their luxury identity in Korea's lucrative imported car market, dominated by BMW, Mercedes-Benz and Tesla. According to data from the Korea Automobile Importers & Distributors Association (KAIDA), BMW led foreign car sales between January and August with 51,228 vehicles, followed by Mercedes-Benz with 41,379 and Tesla with 34,543. Lexus secured the fourth spot among best-selling foreign automakers between January and August, selling more than 10,200 vehicles, up 14.9 percent from a year earlier, driven by strong sales of its ES 300h hybrid sedan. However, it is too early to say if the carmaker will be able to maintain its position through the year, as Volvo and Audi are also showing strong growth. Volvo came in fifth with sales of some 9,000 vehicles during the same period. Volvo maintained the fourth position in the foreign car market here last year. Volvo Car Korea, however, continues to pose a threat to Lexus Korea, as its sales are rapidly rising with aggressive launches of new vehicles. In July, the carmake

Oct 2, 2025By Lee Min-hyung
Race for 4th place heats up in Korean import car market
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