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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

    Genesis BBQ debuts in India's chicken dining scene

    2 MIN READBy Ko Dong-hwan
    Genesis BBQ debuts in India's chicken dining scene
  • Companies

    Hyosung wins $200 mil. power equipment deal in Australia

    2 MIN READBy Lee Min-hyung
    Hyosung wins $200 mil. power equipment deal in Australia
  • Companies

    Classiq, QAI sign partnership to launch Korea's 1st quantum cloud service

    1 MIN READBy Jhoo Dong-chan
    Classiq, QAI sign partnership to launch Korea's 1st quantum cloud service
  • 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
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Companies

CJ Pay aims to attract broader consumer base to Woori Bank

CJ OliveNetworks, operator of the popular lifestyle rewards platform CJ One, has launched a special promotional event for CJ Pay, its new bank account brand, in collaboration with Woori Bank. To celebrate the launch of CJ Pay in June, CJ One on Wednesday jointly launched the promotion deal with Woori Bank for those opening an account. The event runs until Oct. 31. The promotion includes a three-month free membership to the online streaming platform Tving and 2,000 CJ One reward points. Those who refer others to open a CJ Pay account will receive an additional free Tving membership for up to six months. Customers who open an account with Woori Bank for the first time will receive a 5,000 won ($3.61) CJ Olive Young voucher. CJ Pay has been designated an innovative financial service by the Financial Services Commission under the government’s financial regulatory sandbox policy, according to CJ OliveNetworks, a subsidiary of CJ Group. Opening a CJ Pay account is only available on the CJ One platform. CJ Pay, a prepaid account, offers up to 3 percent interest on balances of up to 2 million w

Sep 10, 2025By Ko Dong-hwan
CJ Pay aims to attract broader consumer base to Woori Bank
Banking & Finance

Fintechs turn profit, accelerate overseas expansion drives

Korea’s three major fintechs — Naver Financial, KakaoPay and Toss — have turned a profit for the first time this year, market watchers said Wednesday. Their collective strong performance was driven by rapid adoption of digital payment, platform efficiency and services powered by artificial intelligence (AI). Some of their smaller peers are also showing strong earnings, laying the groundwork for initial public offerings and overseas expansion. But many say policy uncertainties and market saturation remain a risk, adding that their long-term success will depend on innovation, diversification and agility in a rapidly changing financial market landscape. According to Financial Supervisory Service data, the Kakao subsidiary reported an operating profit of 4.4 billion won ($3.3 million) in the first three months of this year, a dramatic turnaround that broke 15 quarters of operating losses. Its operating profit doubled to 9.3 billion won in the second quarter. The strong figure was led by a 35 percent year-on-year increase in in-person transactions, coupled with no significant losses rela

Sep 10, 2025By Lee Kyung-min
Fintechs turn profit, accelerate overseas expansion drives
Companies

Bhc’s Matcho King chicken celebrates 10th year as steady consumer pick

Bhc, one of Korea's top fried chicken franchises, is celebrating its 10th year since the debut of Matcho King, a signature soy sauce-flavored fried chicken, which has continued as a steady consumer favorite in the country’s competitive fried chicken market. Dining Brands Group, the operator of bhc, reports that since its launch in July 2015, the soy sauce-flavored Matcho King has been enjoyed more than 40 million times, generating nearly 800 billion won ($577 million) in sales. Matcho King introduced a new flavor option to the domestic fried chicken market, which had long been dominated by plain fried and sweet-and-spicy offerings. In its first year, Matcho King sold 5.8 million servings, taking the market by surprise. Since then, it has maintained a steady market share with average annual sales of 4 million servings. “I never thought Matcho King would last this long,” said Jeon Byeong-jun, deputy manager for Dining Brands Group’s menu development team, at a bhc restaurant in Seoul’s Seocho District, Tuesday. “Soy sauce-based fried chickens were traditionally in a weaker mar

Sep 10, 2025By Ko Dong-hwan
Bhc’s Matcho King chicken celebrates 10th year as steady consumer pick
Tech & Science

OpenAI mulls data center construction in Korea

OpenAI hinted at the possibility of building a data center in Korea and expanding its cooperation with major conglomerates such as Samsung and SK, pledging to support the government's efforts to achieve sovereignty in the artificial intelligence (AI) industry. The ChatGPT generative AI chatbot developer mentioned these plans on Wednesday, when it announced the official launch of its Korean office — the company's third in Asia and 12th globally. At a press conference in Seoul, OpenAI Chief Strategy Officer (CSO) Jason Kwon said his company is open to exploring partnerships with Korea regarding data center construction. "When it comes to the hardware chip side, I think we have a lot of good partnerships in motion with companies like SK and Samsung," he said. Kwon met with Samsung Electronics Executive Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won last month at the Korea-United States Business Roundtable in Washington, which followed the summit between the leaders of both countries. Still, the CSO did not elaborate on the size or timing of OpenAI's investment in Korea. Leadershi

Sep 10, 2025By Park Jae-hyuk
OpenAI mulls data center construction in Korea
Companies

Samsung chairman's son gives up US citizenship to serve as ROK Navy officer

Samsung Electronics Executive Chairman Lee Jae-yong's eldest son has relinquished his U.S. citizenship to fulfill his mandatory military service required for all able-bodied Korean men. Starting Monday, the 24-year-old will begin 11 weeks of basic military training at the Republic of Korea Naval Academy in Changwon, South Gyeongsang Province, in order to become a navy officer serving for 39 months. "Lee Jee-ho gave up his U.S. citizenship to fulfill his obligation to serve in the military," Samsung Electronics said Wednesday. "He will be commissioned as an ensign on Dec. 1." It remains unclear whether the son will join Samsung after completing his military duty. In 2020, the chairman vowed not to hand over control of the conglomerate to his children. Born in New York in 2000 to the chairman and his now-divorced wife, Daesang Group Vice Chairwoman Lim Se-ryung, the younger Lee held dual citizenship by birth. His recent decision has surprised many, particularly because his father and most other male descendants of Samsung Group founder Lee Byung-chull — including CJ Group Chairman Lee Jay

Sep 10, 2025By Park Jae-hyuk
Samsung chairman's son gives up US citizenship to serve as ROK Navy officer
Tech & Science

Korea aims to enter mass production of humanoid robots in 2029, self-driving cars in 2030

Korea will work to begin mass producing humanoid robots in 2029 and autonomous vehicles powered by artificial intelligence (AI) the following year, making it a global leader in the AI transformation (AX) of manufacturing industries, the industry ministry said Wednesday. The plan was unveiled at the launching ceremony of the Manufacturing AX Alliance (M.AX), which will connect major companies, such as Hyundai Motor Group, LG Electronics Inc., Samsung Electronics Co. and Posco Group, with AI companies to help manufacturing companies apply AI technology in their businesses. The M.AX will be composed of 10 divisions, which will be in charge of developing AI factories, AI manufacturing services, AI logistics facilities, self-driving cars, humanoid robots, autonomous ships, AI home appliances, AI defense products, AI-powered facilities for the biopharmaceutical industry and AI chips, according to the Ministry of Trade, Industry and Energy. The alliance's projects are expected to generate more than 100 trillion won (US$72 billion) in added value by 2030, the ministry stressed. In detail, the al

Sep 10, 2025By Yonhap
Korea aims to enter mass production of humanoid robots in 2029, self-driving cars in 2030
Companies

Corporate growth, profitability deteriorate in Q2 on US tariffs: BOK

Korean companies reported weaker overall growth and profitability in the second quarter due mainly to the impact of the United States' aggressive tariff scheme, the central bank said Wednesday. Combined sales of 26,067 companies subject to external audit fell 0.7 percent from a year earlier in the April-June period, reversing from a 2.4 percent on-year gain in the first quarter, according to data from the Bank of Korea (BOK). It marked the first time since the fourth quarter of 2023 that sales growth turned negative. Sales in the manufacturing sector declined 1.7 percent in the second quarter, compared with a 2.8 percent increase in the previous quarter, while sales growth in the non-manufacturing sector slowed to 0.3 percent from 1.9 percent over the same period. "Weak exports in the petrochemical industry affected the overall corporate growth. The U.S.' tariff hikes also had an impact on corporate performances, particularly steel and automakers," BOK official Moon Sang-yoon told a press briefing. "Though a tariff agreement has been reached, uncertainty remains high," he added. Profitabil

Sep 10, 2025By Yonhap
Corporate growth, profitability deteriorate in Q2 on US tariffs: BOK
Tech & Science

SK hynix teams up with Naver Cloud for AI products

SK hynix and Naver Cloud have formed a partnership to foster each other’s artificial intelligence (AI) solutions, running optimization processes using the former’s chips and the latter’s cloud infrastructure, the two companies said Wednesday. SK hynix Chief Development Officer Ahn Hyun and Naver Cloud CEO Kim Yu-won signed a memorandum of understanding on the two companies’ technological cooperation for AI products during a ceremony held Tuesday. Under the partnership, SK hynix will evaluate and optimize next-generation AI memory and storage products in Naver Cloud’s real AI service environments. SK hynix plans to validate its AI-specialized products using Compute Express Link and Processing-In-Memory technologies in real time under diverse workload conditions at Naver Cloud’s large-scale data center infrastructure. Naver Cloud will optimize its data center software by using SK hynix’s latest hardware so that it can improve the use efficiency of its graphics processing units, shorten the response speed of AI services and reduce costs. The partnership comes amid the exponenti

Sep 10, 2025By Nam Hyun-woo
SK hynix teams up with Naver Cloud for AI products
Tech & Science

Presidential office to unveil plan to create $120 bil. fund for high-tech industries

The presidential office said Wednesday it will host a public presentation to unveil a plan for a 150 trillion-won ($120 billion) public-private fund to support investment in artificial intelligence (AI) and other advanced industries. The so-called "Public Growth Fund," one of President Lee Jae Myung's key economic pledges, has been expanded from the initial proposal of 100 trillion won. The government plans to establish the fund with private investment to accelerate AI adoption across sectors and channel resources into strategic industries, such as semiconductors, biotechnology and energy. The announcement will bring together the ministers of finance, science and ICT, and industry, along with business leaders, including SK Chairman Chey Tae-won, Celltrion CEO Seo Jung-jin, Samsung Electronics President Park Seung-hee and FuriosaAI CEO Baek Joon-ho.

Sep 10, 2025By Yonhap
Presidential office to unveil plan to create $120 bil. fund for high-tech industries
Companies

Samsung tops in AI competitiveness among Korean firms: research

Samsung Electronics ranked the highest among Korean firms in terms of competitiveness in the artificial intelligence (AI) sector, an industry report showed Wednesday, although the company lagged behind global rivals in publishing related papers in academic journals. The Korean tech giant topped the list, followed by Naver and LG Group, according to a study carried out by corporate tracker CEO Score. The research was based on indicators, including the number of patent registrations and citations, and academic performance, along with recruitment of AI workforces. While Samsung showed competitiveness across all areas, Naver demonstrated strength in paper publication and citation, and LG led in patent registration, the report added. Korean firms, however, lagged far behind global tech companies in publishing AI-related papers in academic journals. Alphabet Inc., the parent company of Google, boasted 820 publications in the world's top three journals, followed by Microsoft with 414 and Meta Platforms Inc. with 385. Samsung Electronics ranked 12th with 59 publications, trailed by Naver at 30th a

Sep 10, 2025By Yonhap
Samsung tops in AI competitiveness among Korean firms: research
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