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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

Gov't eyes 500 AI-integrated projects with major industry participation by 2030

The government on Wednesday announced a plan to advance 500 different projects integrating artificial intelligence (AI) over the next five years, with the participation of leading companies across various industries. The plan was discussed during a strategy meeting attended by Industry Minister Kim Jung-kwan, along with executives from major companies, such as tech giant Samsung Electronics, leading battery manufacturer LG Energy Solution and food company Nongshim, according to the Ministry of Trade and Industry. The project aims to dramatically enhance manufacturing productivity by integrating AI into production processes, while also reducing manufacturing costs and carbon emissions, the ministry said. The ministry said the number of projects currently stands at 102, with plans to expand the figure to more than 500 by 2030. President Lee Jae Myung's administration earlier unveiled a five-year economic development blueprint that positions AI as a core growth engine, vowing to foster what it calls a "super-innovation economy" driven by cutting-edge technologies. As part of the initiative,

Oct 1, 2025By Yonhap
Gov't eyes 500 AI-integrated projects with major industry participation by 2030
Tech & Science

KT launches monthly international call subscription plan

KT has introduced a new subscription-based international calling service, 001 Global Free, on Wednesday to offer affordable international calls with a fixed monthly fee. The new subscription plan offers up to 120 minutes of free international calls each month for 7,700 won ($5.50). After using the free minutes, users can make additional calls at a discounted rate of 3.3 won per second, which is 86 percent less than the standard international calling service rate. It is open to all mobile subscribers regardless of carrier, while KT customers also enjoy landline support as well. KT explained that the service is designed to respond to growing global business needs, the rise in international students and the spread of K-culture, leading to more foreigners staying in Korea. To mark the service’s launch, the company is offering a 50 percent discount on the first month’s subscription fee to anyone who signs up by Oct. 31. The service is available through the company’s official website, KT.com, the My KT app and KT retail stores. “As global communication becomes a part of daily life, KT w

Oct 1, 2025By Lee Gyu-lee
KT launches monthly international call subscription plan
Banking & Finance

Korea, Vietnam deepen railway infrastructure cooperation through Knowledge Sharing Program

The Export-Import Bank of Korea (Eximbank) said Wednesday that it held a final report meeting for the Knowledge Sharing Program (KSP) on Vietnam's railway economic development in Ho Chi Minh City. The KSP is a knowledge-based development cooperation program that provides policy recommendations to partner countries based on Korea's economic development experience. It is supervised by the Ministry of Economy and Finance and managed by Eximbank. The project in Vietnam was jointly promoted by Eximbank and the country's Management Authority for Urban Railways (MAUR). It aimed to share policy consultations on systematizing urban railway technical regulations, investment attraction strategies and stakeholder role guidelines. At the final report meeting on Tuesday, the advising consortium led by Korea Railroad Corp. presented the results of the nine-month study and proposed policy recommendations. It also consulted with Vietnamese authorities to ensure that the recommendations could be incorporated into Ho Chi Minh's plans to construct 10 urban railway lines. More than 50 participants attended t

Oct 1, 2025By Lee Yeon-woo
Korea, Vietnam deepen railway infrastructure cooperation through Knowledge Sharing Program
Companies

Korea’s largest low-cost coffee chain operator fined for unfair business practices

AnnHouse, the operator of Mega MGC Coffee, has been slapped with a fine of 2.29 billion won ($1.63 million) for abusing its influence on franchisees by shifting gift certificate commissions to them, the Fair Trade Commission (FTC) said Wednesday. The watchdog also ordered the operator of the nation’s largest low-cost coffee chain to rectify its unfair business practices. The company is suspected of forcing its franchisees to pay a commission of 11 percent on mobile gift certificate sales between August 2016 and July 2020, according to the FTC investigation. AnnHouse should have received consent from its franchisees before passing the financial burden onto them, according to the watchdog. As a result, the coffee franchisees were forced to bear the financial burden of some 276 million won for two years, beginning in 2018. The fine is the largest imposed on a food service operator for violation of the Franchise Business Act here, the FTC said. The watchdog expected the latest sanction to build a transparent transaction environment among local franchise business operators. AnnHouse was also

Oct 1, 2025By Lee Min-hyung
Korea’s largest low-cost coffee chain operator fined for unfair business practices
Companies

BAT Rothmans’ gardening outreach beautifies 8 Seoul districts

Major tobacco and cigarette company BAT Rothmans’ flower-planting campaign to reduce cigarette litter on the streets and promote a cleaner smoking culture has reached eight Seoul districts, according to the company on Wednesday. The voluntary activity has so far introduced 50 newly decorated streets across the districts, including Jung, Gangnam, Gangdong and Jongno, since the first event in 2023. The Korean subsidiary's campaign has resulted in planting 3,000 trees and flowers of 17 different species. The campaign is targeting narrow and neglected alleys across Seoul, which often attract smokers who leave cigarette butts on the streets. By turning those spots into flower beds, the project not only prevents cigarette litter but also adds colorful scenery to the neighborhoods. BAT Rothmans said the project has drawn the participation of local residents who voluntarily water the plants and remove weeds. Such efforts have improved the atmosphere of commercial sectors and kept local streets clean, the company added. It cited residents who say the campaign has “brightened the neighborhood

Oct 1, 2025By Ko Dong-hwan
BAT Rothmans’ gardening outreach beautifies 8 Seoul districts
Banking & Finance

SGI to increase ROE to 10% by 2030 to bolster shareholder returns

Seoul Guarantee Insurance (SGI) aims to achieve a return on equity (ROE) ratio of 10 percent by 2030, as part of a comprehensive long-term strategy to enhance corporate value, increase shareholder returns and strengthen its core business competitiveness, the company said Wednesday. The guarantee service provider will also maintain a capital adequacy ratio or Korean Insurance Capital Standard (K-ICS) ratio of over 320 percent by 2030. The ratio is a measure of financial soundness for Korean insurance companies, calculated by dividing their available capital by the required capital to meet potential claims. A higher ratio indicates stronger financial health. The recommended minimum is 130 percent. SGI said the market-friendly shareholder return drive is expected to strengthen investor confidence in the firm, together with plans to boost profitability in its guarantee and credit insurance businesses, as well as enhance investor communications. The firm reiterated its commitment to returning a total of 200 billion won ($142 million) every year from this year through 2027 in the form of cash

Oct 1, 2025By Lee Kyung-min
SGI to increase ROE to 10% by 2030 to bolster shareholder returns
Banking & Finance

Hahn & Co. to acquire entire stake in SK D&D, seek voluntary delisting

Hahn & Co. will acquire SK Discovery’s entire stake in SK D&D and proceed with a voluntary delisting of the company, according to an electronic disclosure Wednesday. SK D&D, a real estate developer, has been jointly managed by Hahn & Co. and SK Discovery. Through the plan, Hahn & Co. is expected to increase its managerial flexibility by privatizing SK D&D and accelerating its exit strategy. SK Discovery is also anticipated to streamline its portfolio by divesting its real estate development unit, considered non-core, and focusing on its main businesses in energy and biotechnology. According to the Financial Supervisory Service’s electronic disclosure system, a special purpose company (SPC) established by Hahn & Co. has signed a share purchase agreement (SPA) with SK Discovery to acquire some 5.82 million common shares, representing a 31.27 percent stake, for about 74.2 billion won ($53 million). The SPC then plans to purchase all of the roughly 7 million remaining shares through a public tender offer, with the aim of voluntarily delisting SK D&D. The tender offer price has been set at

Oct 1, 2025By Jun Ji-hye
Hahn & Co. to acquire entire stake in SK D&D, seek voluntary delisting
Tech & Science

SK Telecom rolls out new subscription service

SK Telecom is launching a new bring-your-own-device subscription brand called air on October 13, offering simplified and cost-effective services specifically designed for users who already own mobile devices. The new service, which targets younger users, strips down unnecessary bundles that traditional carrier plans have, focusing on the essential mobile services — 5G connectivity, simplified data plans and straightforward self-service features. “Mainly, customers in their 20s and 30s tend to purchase unlocked devices online, so we took into account the fact that they do not visit physical telecom stores,” Lee Yun-haeng, air team leader of SK Telecom, said during a press conference in Seongdong District in Seoul on Wednesday to introduce the new service. “SKT thoroughly listened to the needs of the 2030 generation, who want intuitive and simple rate plans, activation processes and value-added services.” The air service features six contract-free 5G data plans, starting at 29,000 won ($21) for 7 gigabytes (GB) of data to up to 58,000 won for unlimited data per month. All plans in

Oct 1, 2025By Lee Gyu-lee
SK Telecom rolls out new subscription service
Companies

GM Korea launches Super Cruise hands-free driver assistance

General Motors (GM) Korea has launched its much-hyped Super Cruise hands-free driver assistance system, investing 10 billion won ($7.12 million) to create a high-definition map of the nation’s roads, the carmaker said Wednesday. Korea becomes the automaker’s third market to introduce the advanced system, following North America and China. Super Cruise has been adapted to cover some 23,000 kilometers of expressways and major roads in Korea, according to the company. The carmaker’s first vehicle equipped with the system will be an upcoming Cadillac model, scheduled to make its debut in the fourth quarter of this year. “Starting from the Cadillac vehicle this year, GM Korea will expand the lineup of vehicles with Super Cruise,” Yoon Myong-ok, chief marketing officer at GM Korea, told reporters during a press conference in Seoul. This raises hopes for GM Korea to sell more Super Cruise-powered vehicles in its diverse auto brands, including Chevrolet. Super Cruise requires drivers’ constant attention to the road with its Eyes On system. This was designed to ensure the safety of dri

Oct 1, 2025By Lee Min-hyung
GM Korea launches Super Cruise hands-free driver assistance
Companies

GKL co-hosts tourism job fair in Seoul

Grand Korea Leisure (GKL) hosted the 2025 Tourism Job Festa at the aT Center in Seocho District, Seoul, from Sept. 30-Oct. 1 to promote careers in the tourism industry and create new employment opportunities. GKL is the public operator of the country’s largest foreigner-only casino, Seven Luck, under the Ministry of Culture, Sports and Tourism. The festival was organized by the culture ministry and co-hosted by the Korea Tourism Organization, GKL and 11 other institutions. More than 130 companies, including travel agencies, hotels, resorts, tourism startups, travel platforms and theme parks, took part in the two-day event. GKL not only operated its own promotional booth but also supported the installation of a special theme hall, oversaw a competition space and provided transportation subsidies for students from underserved regions. It also assisted with facility operations throughout the venue. At the GKL booth, visitors were introduced to casino-related jobs and given demonstrations of casino games. The booth also highlighted the company’s corporate social responsibility programs w

Oct 1, 2025By Jhoo Dong-chan
GKL co-hosts tourism job fair in Seoul
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