my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Watchdog launches review on Google's alleged fair trade violation

    Seoul's antitrust watchdog said Wednesday it has launched an investigation into U.S.-based Google LLC, as well as its Singaporean and South Korean offices, over allegations of violations of the fair trade law involving game developers on its app marketplace. The Fair Trade Commission (FTC) said its examiners' report showed Google has abused its dominance in the Android marketplace, with related sales totaling $9.21 billion. Under the law, the watchdog may impose a fine of up to 6 percent of the amount following its deliberations. The FTC said Google signed the Games Velocity Program (GVP) agreements with major game developers at home and abroad to prevent their potential departure from its app marketplace. The program centers on subsidizing game developers' costs for using Google services, such as Google Cloud and advertising, on the condition that they give Google most favorable treatment compared to other app marketplaces, including earlier release dates. The FTC said its examiners had concluded that the agreements had significantly hindered game developers from entering rival app mark

    1 MIN READBy Yonhap
    Watchdog launches review on Google's alleged fair trade violation
  • Companies

    Samsung Epis Holdings opens 1st overseas R&D center in Beijing

    1 MIN READBy Jhoo Dong-chan
    Samsung Epis Holdings opens 1st overseas R&D center in Beijing
  • Companies

    Temu boosts IP protection for K-brands

    2 MIN READBy Ko Dong-hwan
    Temu boosts IP protection for K-brands
  • Business

    National Growth Fund to scale up investment in physical AI sector

    1 MIN READBy Yonhap
    National Growth Fund to scale up investment in physical AI sector
  • Companies

    Samsung, SK chip investment timelines leave room for adjustment

    4 MIN READBy Nam Hyun-woo
    Samsung, SK chip investment timelines leave room for adjustment
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

Hyundai Mobis, chipmakers forge ties to localize semiconductors for vehicles

Hyundai Mobis has teamed up with local chipmakers and research institutions to establish the nation’s first private-sector-driven automotive semiconductor value chain, the auto parts maker said Monday. The company shared its vision during the inaugural Auto Semicon Korea event in Seoul. A group of 23 companies and research bodies joined the event to discuss future business opportunities in the lucrative chip market for automobiles. The collaboration is the first of its kind in Korea. Hyundai Mobis and key participants — such as Samsung Electronics and SK keyfoundry — shared a common view that local industry players should take immediate steps to localize development for chips used in vehicles, as the industry has so far been driven by overseas firms, particularly in North America and Europe. The participants pledged to form what they call a self-sustaining value chain and create new business models to improve the status quo and gradually increase their global competitiveness. Hyundai Mobis, as a global Tier 1 automotive supplier, will play a crucial role in achieving the drive, as

Sep 29, 2025By Lee Min-hyung
Hyundai Mobis, chipmakers forge ties to localize semiconductors for vehicles
Banking & Finance

Gov't data disruptions hit Korea's financial services ahead of Chuseok holiday

Financial services in Korea remained disrupted Monday, after a lithium-ion battery fire at the National Information Resources Service (NIRS) on Friday incapacitated identity verification systems nationwide. While no major consumer-facing breakdowns were reported, banks remained in emergency mode, as the end-of-month surge in transactions and the approaching Chuseok holiday added pressure to restore services. As of Monday, national ID cards, or resident registration cards, remained unusable via online and automated channels, suspending non-face-to-face account openings and certificate issuance. At physical branches, tellers had to manually verify identities by calling the government's automated response system, resulting in delays. Brokerages and cryptocurrency exchanges reported similar issues. Remote account openings, one-time password issuance and password resets were halted due to the inability to authenticate users via national ID cards. A banking industry official said that although some digital services were temporarily unavailable and customers experienced delays at branches, overa

Sep 29, 2025By Lee Yeon-woo
Gov't data disruptions hit Korea's financial services ahead of Chuseok holiday
Banking & Finance

Woori Financial Group to extend $59 bil. to support AI, bio industries

Woori Financial Group plans to invest 80 trillion won ($59 billion) over the next five years to expand lending for artificial intelligence (AI) and other high-tech ventures, innovative small businesses and low-income and low-credit retail borrowers, the group said Monday. This is part of the group's Future Co-growth Initiative. The largest private-sector financial investment seeks to prioritize long-term, sustainable investment, moving away from household mortgage lending, which has long been criticized as the "easiest" way of generating revenue. Woori is the first private-sector investor to commit 10 trillion won for the Lee Jae Myung administration-led 150 trillion won National Growth Fund. Woori's contribution constitutes 13 percent of the 75 trillion won to be funded by the private sector. The financial group also plans to spend 1 trillion won in venture capital through its investment subsidiary, supporting budding high-tech startups from the launch of their business through to their initial public offering (IPO). It plans to lower borrowing costs for 550,000 people, including small

Sep 29, 2025By Lee Kyung-min
Woori Financial Group to extend $59 bil. to support AI, bio industries
Companies

POSCO collaborates with startups to lead innovation in technology

POSCO is working with startups to lead innovation in technology, navigating an unprecedented crisis in the steel industry caused by slow global demand, U.S. tariffs and a glut of low-priced Chinese products. In August, the steelmaker established a 50 billion won ($36 million) fund to invest in startups developing technologies in digital transformation, energy efficiency, carbon reduction and renewable energy — areas aligned with the company's future growth strategies. POSCO has allocated 20 percent of the fund to invest in promising overseas startups. The company also plans to continue seeking investment opportunities, conducting thorough reviews of both domestic and overseas startups' technologies, financial health and strategic relevance. POSCO is also considering joint research with startups and integrating their products and technologies into its own operations to maximize synergy and secure new growth drivers. “We will keep partnering with small- and medium-sized enterprises and startups that have high-potential technologies,” a POSCO official said. “By driving innovation in

Sep 29, 2025By Park Jae-hyuk
POSCO collaborates with startups to lead innovation in technology
Companies

'K-visa' proposed to help Korean firms navigate Trump's immigration policies

Business leaders and legal experts from Korea and the United States urged Washington on Monday to create a so-called "K-visa" to prevent Korean companies from facing setbacks in their U.S. investments amid tightening immigration regulations under the Donald Trump administration. Criticizing the lack of a dedicated U.S. visa category for Korean professionals, they said the K-visa would be the key to a stronger Korea-U.S. economic partnership. "The Georgia case underscores how essential it is for companies to fully understand and comply with U.S. visa rules. Beyond compliance, we must also prepare for new opportunities such as the proposed K-visa, which could strengthen workforce mobility and the U.S.-Korea partnership," American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim said during the chamber's U.S. Visa Seminar in Seoul. The annual seminar was held to introduce U.S. visa categories, procedures and application requirements to Korean companies seeking U.S. market entry. It also covered common pitfalls and how to avoid them, as well as workforce strategies for smoother mark

Sep 29, 2025By Park Jae-hyuk
'K-visa' proposed to help Korean firms navigate Trump's immigration policies
Companies

Baristas showcase skills at Dongsuh’s Kanu championship

Professional baristas competed with their coffee-brewing skills over the weekend under a banner featuring Dongsuh Foods’ signature instant coffee brand, Kanu. The annual Kanu Barista Championship, held at Shinsegae Department Store’s main branch in Seoul’s Gangnam District, featured eight experts locking horns on Saturday and Sunday. The competition evaluated the versatility of the eight finalists in using Kanu’s ground coffee beans in creative drinks with the potential to impress consumers. During the first round of competition on Saturday, the baristas created their own versions of a hot Americano and iced latte. The following day, they were given free rein to showcase their creativity with signature drinks of their choice. Judges included coffee experts such as Um Bo-ram, a Korean Brazilian who won the World Barista Competition 2023 in Athens, Greece. At Kanu, the top honor went to Kim Ga-eun for “Golden,” which mixed Kanu espresso-based Americano with green tea, allulose and mango extract. Kim said the similarity between coffee and music inspired her creation. Judges praise

Sep 29, 2025By Ko Dong-hwan
Baristas showcase skills at Dongsuh’s Kanu championship
Tech & Science

OpenAI taps ex-Google Korea chief to spearhead Seoul office

OpenAI has appointed Kim Kyoung-hoon, the former country head of Google Korea, as the inaugural head of OpenAI Korea. The company announced the new head for its regional office on Monday, noting that Kim will be leading OpenAI Korea with the aim of supporting a major artificial intelligence (AI) transformation in the country, drawing on his extensive experience in global strategy and innovation. This appointment comes as the company has been facing growing demand for its technologies in Korea. Over the past year, the number of weekly active users of the company’s ChatGPT has increased more than fourfold. “By combining Korea’s strong capacity for innovation with OpenAI’s technology, I hope to help position Korea as a global leader in AI,” Kim said in a press release. “With the rapid growth in the use of ChatGPT and OpenAI’s application programming interface platform, I plan to work closely with the industry, developer community, academia and government to establish responsible AI practices and create positive and sustainable change across Korean society.” Kim served as the

Sep 29, 2025By Lee Gyu-lee
OpenAI taps ex-Google Korea chief to spearhead Seoul office
Tech & Science

Science ministry launches alliance to promote physical AI research

The science ministry on Monday launched an alliance of institutes and businesses to promote research activities in the physical artificial intelligence (AI) sector, which encompasses humanoid robots and autonomous vehicles. The launch came as part of the government's vision to make Korea one of the world's top three AI powerhouses, according to the Ministry of Science and ICT. Physical AI refers to systems in which AI programs can analyze their surroundings to make decisions and take action, used in robots or cars. "We will build a foundation for Korea to take the lead in the physical AI segment and acquire globally competitive technologies," Science Minister Bae Kyung-hoon said during a launch ceremony in Seoul. "Government organizations, including the science, industry and startups ministries, will consolidate their efforts with businesses and universities to establish the ecosystem for the physical AI industry," Bae said. Major businesses joining the alliance include Hyundai Motor Co., HD Hyundai Heavy Industries Co. and LG AI Research. The alliance will have a total of 10 divisions, wi

Sep 29, 2025By Yonhap
Science ministry launches alliance to promote physical AI research
Companies

Samsung Heavy Industries partners with India's Swan Defence

Samsung Heavy Industries said Monday it has partnered with India's Swan Defence and Heavy Industries to collaborate in shipbuilding and offshore engineering. Under a memorandum of understanding (MOU) signed earlier, the two companies will pursue cooperation in engineering, procurement and management of shipbuilding and offshore projects, Samsung Heavy said. Swan Defence and Heavy Industries operates India's largest dry dock, capable of constructing very large crude carriers (VLCCs). Samsung Heavy said the partnership will help it establish a foothold in India, with plans to gradually expand its business there. The deal is part of Samsung Heavy's recent push to strengthen its global network, following its strategic partnership with U.S.-based Vigor Marine Group in August.

Sep 29, 2025By Yonhap
Samsung Heavy Industries partners with India's Swan Defence
Tech & Science

PHOTO Samsung supplies screens to Toyota dealerships

A visitor uses a QR code displayed on a Samsung Electronics screen at a Toyota dealership in Santiago de Compostela, Spain, in this undated handout photo. Samsung Electronics said Monday it has supplied a total of 23,000 screens for digital signage services at 1,250 Toyota dealerships in 40 countries in the first half of this year, propelling Samsung's global digital signage market share to 38.8 percent in the second half of this year. Courtesy of Samsung Electronics

Sep 29, 2025By Nam Hyun-woophoto
[PHOTO] Samsung supplies screens to Toyota dealerships
previous page
330331332333334
next page

Most Read in Business