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  • Companies

    Hyundai Motor’s Namyang R&D Center drives software-defined vehicle transformation

    HWASEONG, Gyeonggi Province — Inside a dimly lit studio at Hyundai Motor Group’s Namyang R&D Center, a researcher sits in a carbon-fiber cockpit surrounded by a massive 270-degree curved screen. As he hits the accelerator, the simulated road rushes past, and the entire rig tilts and vibrates, mimicking subtle asphalt textures of a real test track. Building countless physical prototypes for every design iteration is no longer viable. Instead, Hyundai Motor relies on a high-performance driving simulator operating on a six-degrees-of-freedom (6DOF) motion system. The simulator translates linear and rotational movements — including roll and pitch — into an ultra-realistic driving experience. To achieve maximum fidelity, the carmaker scanned its Namyang proving grounds down to the millimeter, capturing specific slopes, speed bumps and surface roughness. To prevent massive rendering files from lagging, the company deployed a world-first "Terrain Server" system that streams topographical data in real time based on the virtual car’s location. The simulator is highly versatile. Researcher

    3 MIN READBy Lee Min-hyung
    Hyundai Motor’s Namyang R&D Center drives software-defined vehicle transformation
  • Companies

    Samsung, SK hynix to build HBM packaging fabs in Chungcheong region as part of $252.5 bil. in total investment

    2 MIN READBy Yonhap
    Samsung, SK hynix to build HBM packaging fabs in Chungcheong region as part of $252.5 bil. in total investment
  • Companies

    Hanwha Ocean picked as preferred bidder for $5.1 bil. Navy destroyer project

    2 MIN READBy Yonhap
    Hanwha Ocean picked as preferred bidder for $5.1 bil. Navy destroyer project
  • Companies

    6 carmakers to recall over 146,000 vehicles due to faulty parts

    1 MIN READBy Yonhap
    6 carmakers to recall over 146,000 vehicles due to faulty parts
  • Business

    208 kg of heavy water leaked from Wolsong-4 reactor; no radiation issue reported

    1 MIN READBy Yonhap
    208 kg of heavy water leaked from Wolsong-4 reactor; no radiation issue reported
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Business

Gov't to support shipbuilding projects involving Arctic routes: minister

The government will provide financial support for projects aimed at building icebreakers that will run through Arctic shipping routes, the oceans minister said Thursday, as Korea plans to begin pilot operations on the envisioned Northern shipping corridors next year. "We will invest 11 billion won ($8 million) per vessel built with icebreaking capabilities for operation on the Arctic shipping routes," Minister Chun Jae-soo said in a press conference, noting the Ministry of Oceans and Fisheries has allocated funds for the project in next year's ministry budget. Chun projected that icebreakers will be able to operate in the Arctic corridors in earnest from 2030, citing a study conducted by Pohang University of Science and Technology (POSTECH), one of Korea's top tech universities. The ministry has earmarked a budget of 7.3 trillion won, including 1.66 trillion won for expanding and enhancing port infrastructure in the southeastern region in anticipation of the expansion of the Northern shipping routes, for its 2026 operations. The Lee Jae Myung administration has pledged to make the southe

Sep 11, 2025By Yonhap
Gov't to support shipbuilding projects involving Arctic routes: minister
Tech & Science

Samsung SDS unveils strategy as full-stack partner for AI transformation

Samsung SDS highlighted its full-stack artificial intelligence (AI) service strategy, encompassing infrastructure, consulting, platforms and solutions, to help companies across industries with AI transformation. The company held its annual REAL Summit at Coex in southern Seoul on Thursday, opening the event with a keynote session to showcase its strategy, global partnerships and use cases from its clients. “When we talk about AI these days, the biggest topic is AI agents, and with them, we are entering a new realm of opportunities … AI innovation requires not only expertise in AI and cloud technologies and an understanding of vast, complex enterprise data, but also careful consideration of security,” Samsung SDS CEO Lee June-hee said during the session. “Verifying each step and finding real, applicable use cases are far from easy. That’s why anyone considering AI innovation inevitably needs a reliable information technology (IT) partner.” To drive AI transformation in business, Samsung SDS offers a full-stack service with its generative AI platform FabriX that connects multip

Sep 11, 2025By Lee Gyu-lee
Samsung SDS unveils strategy as full-stack partner for AI transformation
Banking & Finance

Vietnam's top prosecutors visit Toss Bank to study cybersecurity, digital innovation

Toss Bank said Thursday that the Supreme People's Procuracy of Vietnam visited its headquarters in Seoul to learn about the internet-only bank's experience in cybersecurity and digital innovation. At a meeting held Wednesday, Toss Bank CEO Rhee Eun-mi and Chief Information Security Officer Lee Jeong-ha shared the bank's success and operational procedures with the Vietnamese delegation, led by Hoang Minh Tien, director general of the department of criminal justice statistics and digital transformation. The two sides held in-depth discussions on Vietnam's challenges in digital transformation, technical strategies for combating cybercrime and measures to strengthen the security of data-driven case management systems. Vietnam is currently pursuing a nationwide digital transformation, and as part of these efforts, it is working to establish a digital prosecution office. The visit was organized under the auspices of the United Nations Office on Drugs and Crime. "It's remarkable that Toss Bank turned a profit within three years while actively pursuing inclusive finance," Hoang said. "Vietnam ha

Sep 11, 2025By Lee Yeon-woo
Vietnam's top prosecutors visit Toss Bank to study cybersecurity, digital innovation
Tech & Science

KT apologizes for mobile payment fraud cases

Mobile carrier KT on Thursday apologized to its users over a string of unauthorized mobile payment fraud cases that rattled the public with the unprecedented use of rogue cellular base stations. The telecom company also confirmed that the personal information of more than 5,500 users may have been stolen in the fraud cases, and reported the breach to the country’s telecom regulator. “I stand here with a heavy heart to apologize for the concern and anxiety caused by the recent mobile payment fraud cases,” KT CEO Kim Young-shub said during a press conference at its headquarters in Seoul. “We sincerely apologize to the Korean public, our customers, related institutions and the customers who suffered losses … We have mobilized all of the company’s resources and personnel to prevent further losses, implementing technical measures and preparing to fully compensate affected customers.” The mobile payment breach first surfaced last week as police investigated unauthorized mobile charges affecting KT users residing in certain parts of Seoul and Gyeonggi Province. About 20 victims rep

Sep 11, 2025By Nam Hyun-woo
KT apologizes for mobile payment fraud cases
Companies

Moncler Korea fined $63,200 over data leak of 230,000 users

The data protection regulator said Thursday it has fined outerwear brand Moncler Korea 88 million won ($63,200) over a data leak that affected about 230,000 customers. The Personal Information Protection Commission (PIPC) imposed the fine over the leak in December 2021 that occurred due to a cyberattack on the company's personal information processing system. The leak involved customer information needed to make purchases, excluding names, birth dates, email addresses and card numbers, among other data. The perpetrators behind the attack took over a company administrator account to install malware on the company's server to steal the customer data, according to the regulator. The PIPC said the company realized the leak the next month, and belatedly reported it to customers and the regulator.

Sep 11, 2025By Yonhap
Moncler Korea fined $63,200 over data leak of 230,000 users
Companies

New nuclear plant construction expected to be dropped under Lee gov't

President Lee Jae Myung reaffirmed support for the renewable energy industry and questioned proposals to use nuclear energy for powering data centers dedicated to artificial intelligence, implying that his government will not build additional nuclear reactors on Korean soil. He also dismissed concerns from industry insiders and academics that the environment ministry's proposed oversight of energy policies could result in stricter regulations instead of promoting the sector's growth. "It takes at least 15 years to build a nuclear plant, and Korea now lacks sites for new facilities except for one location that had been designated long ago," Lee said Thursday during a press conference marking 100 days since the launch of his administration. Regarding the use of small modular reactors (SMRs), he perceived development of relevant technologies as still immature. "The fastest way to boost electricity supply is through solar or wind power generation," Lee said. "Since renewables are the only viable solution, we will focus on developing this sector." Lee's comments came a day after Environment Mi

Sep 11, 2025By Park Jae-hyuk
New nuclear plant construction expected to be dropped under Lee gov't
Tech & Science

KAIST president receives top honor from French gov’t

Korea Advanced Institute of Science and Technology (KAIST) President Lee Kwang Hyung was awarded the Legion of Honour (Legion d’Honneur), a top distinction conferred by the French government, the university said Thursday. During a ceremony at the French ambassador’s residence in Seoul, Lee was conferred the distinction of Officier of the Legion of Honour in recognition of his academic and scientific achievements and his contributions to advancing the cooperation between Korea and France. The Legion of Honour is the highest order of merit awarded by the French government, granted to individuals who have contributed to the development of France and the international community in fields such as the military, academia, culture, science and industry. The Officier rank is the fourth out of five classes in the order. Lee earned his doctoral degree at INSA Lyon in France and has been spearheading bilateral cooperation in research and innovation. He was previously awarded the Chevalier rank of the Legion of Honour in 2003 in recognition of his achievements. Since taking office as KAIST presid

Sep 11, 2025By Nam Hyun-woo
KAIST president receives top honor from French gov’t
Companies

Salewa expands into Korea’s outdoor clothing and gear market

Italian mountaineering fashion and gear brand Salewa is pursuing market expansion into Korea. After opening its first store in Seoul in March, the company said Thursday that it plans to open a second one next year, rolling out marketing strategies tailored to Koreans who enjoy outdoor fashion as part of their everyday lifestyle. Salewa CEO Christoph Engl and Chief Sales Officer Stefan Rainer shared the brand’s vision for the Korean market during a press conference at the Salewa store in Jongno 5-ga, Seoul, where global outdoor clothing and gear brands have clustered since the 1970s, turning the area into a gathering point for outdoor enthusiasts. The executives said the company will introduce lightweight outerwear for Korean consumers as well as boots, backpacks and other outdoor gear for which Salewa has made its name across Europe. Salewa was first launched in Munich in the 1930s before moving to the South Tyrol region in northern Italy. “When it comes to our products for mountaineering, we don’t compromise anything. They were all made from a technical point of view by taking in

Sep 11, 2025By Ko Dong-hwan
Salewa expands into Korea’s outdoor clothing and gear market
Banking & Finance

Hanwha Life unveils AI strategy, new services at AI DAYS 2025

Hanwha Life Insurance outlined its artificial intelligence (AI) vision and strategic road map for driving innovation and growth at its internal event, AI DAYS 2025 (Shaping the Future with AI & LIFEPLUS), the company said Thursday. Held at the company’s Seoul headquarters on Wednesday, the event brought together co-CEOs Kwon Hyeuk-woong and Lee Kyung-keun, along with employees, as the insurer shared its AI achievements and future plans. The company presented three strategic priorities to advance AI innovation during the event: innovating AI services centered on core insurance operations; creating services that deliver value to customers beyond finance into everyday life; and reinforcing financial AI leadership by enhancing employees’ AI knowledge and application skills. In particular, the company emphasized how AI services have been applied in core insurance operations to improve operational efficiency and customer experience. Examples include the AI Contact Center, which was launched earlier this year for real-time customer support and consultation, and AI STS, an intelligent sales

Sep 11, 2025By Jun Ji-hye
Hanwha Life unveils AI strategy, new services at AI DAYS 2025
Banking & Finance

Mirae Asset surpasses $721 bil. AUM, cements position as global investment leader

Mirae Asset Financial Group has surpassed 1,000 trillion won ($721.18 billion) in assets under management (AUM), marking a major milestone in its nearly 30-year journey from a 10-billion-won startup to Korea’s leading global financial company. The Seoul-headquartered firm reported 1,024 trillion won in AUM — the total market value of assets it manages on behalf of clients — based on its latest performance as of July. This achievement reflects the group’s rapid growth since founder and Global Strategy Officer (GSO) Park Hyeon-joo established Mirae Asset Capital in July 1997 with just over 10 billion won, laying the foundation for a broad network of affiliates across securities, asset management, investment banking, insurance, consulting and more. Groupwide AUM has been rising rapidly, reaching 1,000 trillion won in less than a year after standing at 906.6 trillion won in December 2024. The group operates across 19 locations worldwide, including Hong Kong, where Mirae Asset Global Investments became the first Korean asset management company to establish an overseas presence in 2003

Sep 11, 2025By Yi Whan-woo
Mirae Asset surpasses $721 bil. AUM, cements position as global investment leader
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