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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
  • Others

    AMCHAM launches AI Leadership Council to bolster Korea-U.S. AI cooperation

    2 MIN READBy Lee Gyu-lee
    AMCHAM launches AI Leadership Council to bolster Korea-U.S. AI cooperation
  • Companies

    SK bioscience, Gates Foundation to launch AI-driven vaccine platform

    1 MIN READBy Jhoo Dong-chan
    SK bioscience, Gates Foundation to launch AI-driven vaccine platform
  • Companies

    HD Hyundai Electric lands $720 mil. power deal with global Big Tech firm

    2 MIN READBy Lee Gyu-lee
    HD Hyundai Electric lands $720 mil. power deal with global Big Tech firm
  • Companies

    Olive Young to launch inaugural K-beauty festival in LA

    2 MIN READBy Jhoo Dong-chan
    Olive Young to launch inaugural K-beauty festival in LA
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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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Companies

AIA Korea concludes children’s football program with Tottenham coaches

AIA Korea has concluded the AIA-Spurs Children’s Health Football Program in collaboration with Tottenham Hotspur’s Global Football Development coaches, the life insurer said Monday. Now in its third year, this year’s four-day program, which began last Thursday, attracted more than 720 children of AIA customers as well as the firm’s master planners, partners and staff. The program provided a comprehensive football experience, with general sessions for beginners and advanced training for young footballers already in clubs. Participants received professional coaching in fitness, core skills, teamwork and sportsmanship. Each child was given a certificate of completion and a commemorative photo. In this year’s program, around 20 children earned the opportunity to join the AIA-Spurs Elite Football Camp based on their talent and potential. The camp will be held in December at the Maraleina Sports Resort in Koh Samui, Thailand, and will provide a weeklong world-class football development experience under Tottenham Hotspur coaches. The initiative is part of AIA Korea’s “AIA-Only Experi

Sep 8, 2025By Lee Kyung-min
AIA Korea concludes children’s football program with Tottenham coaches
Companies

Environment ministry’s proposed oversight of energy policy draws backlash

The Korean nuclear power industry has expressed concern about losing global competitiveness, following Sunday’s announcement of the government’s plan to transfer control of energy policies to the Ministry of Environment from the Ministry of Trade, Industry and Energy. Workers in the affected industry have begun protesting the reorganization plan, while experts fear a potential shift in the focus of energy policies from promoting industry growth to tightening environmental regulations. “We are preparing to hold rallies in front of the presidential office and the National Assembly on Sept. 9, 17 and 19,” a spokesperson of Korea Hydro & Nuclear Power’s (KHNP) union said, Monday. Under the overhaul, the Ministry of Environment will be expanded with a tentative new name — the Ministry of Climate, Energy and Environment — and will take over most energy policy responsibilities, except for resources and overseas construction of nuclear reactors. Once the plan is passed later this month at the National Assembly led by the ruling Democratic Party of Korea (DPK), KHNP and other state-

Sep 8, 2025By Park Jae-hyuk
Environment ministry’s proposed oversight of energy policy draws backlash
Companies

Kyochon makes donation to support migrant youth

Popular fried chicken franchise company Kyochon F&B has renewed its efforts to support youth from migrant families with their careers and domestic settlement by donating money and planning support programs. The company said on Monday it donated 16 million won ($12,000) to Migrant Center Friend on Sept. 2. A donation ceremony took place at the Seoul Global Youth Education Center in Yeongdeungpo District. Kyochon's Head of Communication Department Kang Chang-dong and Migrant Center Friend CEO Yoon Young-hwan participated in the ceremony. Kyochon F&B began collaborating with the nonprofit organization last year. The company said it had launched the initiative due to the steady rise in migrant youth numbers. Kyochon F&B and Migrant Center Friend on the same day also signed a memorandum of understanding (MOU) to run support programs for the youth group. Kyung Hee Cyber University joined the MOU as an educational facilitator. Starting this month, 20 local institutes and associations that are currently providing educational support to migrants will share free Kyochon fried chicken with 1,000 st

Sep 8, 2025By Ko Dong-hwan
Kyochon makes donation to support migrant youth
Tech & Science

SK Telecom's AI agent makes entry into Japanese market

SK Telecom said Monday it will invest 2.2 billion Japanese yen ($14.8 million) in TimeTree, the Japanese schedule-sharing app operator, to expand its presence in the artificial intelligence (AI) agent markets in both Korea and Japan. Under the strategic partnership signed Friday, TimeTree will gain access to the Korean telecom company's technologies and expertise developed through the operation of its A. (Adot) AI agent. This marks the first time SK Telecom has permitted the use of its AI agent for an overseas service. "Partnering with TimeTree offers SK Telecom a powerful opportunity to extend our AI agent technologies into global markets," SK Telecom CEO Ryu Young-sang said. "Together, we will expand the AI ecosystem across Korea, Japan and beyond." TimeTree operates a schedule-sharing app with approximately 67 million users worldwide. SK Telecom said it considers the Japanese firm's extensive data and global user base as crucial assets for advancing its AI agent services and expanding into international markets. According to SK Telecom, the most notable feature of its partnership with

Sep 8, 2025By Park Jae-hyuk
SK Telecom's AI agent makes entry into Japanese market
Companies

Amorepacific eyes W15 tril. in sales by 2035

Amorepacific on Monday announced its long-term growth strategy to achieve 15 trillion won ($10.77 billion) in sales by 2035, as the beauty and cosmetics giant celebrated its 80th anniversary. According to the company, it held the 80th anniversary ceremony at its headquarters in Seoul's Yongsan District, Thursday, with Amorepacific Group Chairman Suh Kyung-bae presenting his strategy to reach the sales goal, which is more than double last year's sales of 4.26 trillion won. “Over the next decade, we will grow into a leading global beauty and wellness company, posting over 15 trillion won in sales,” Suh said. “We will raise the share of global sales from the current 50 percent to 70 percent and actively foster global mega brands posting more than 1 trillion won in sales. In our core business of premium skin care, we will rise to a global top three company.” Under the slogan of “Creating New Beauty,” Suh said the company will pursue a five-pronged strategy focusing on strengthening its presence in key global markets, enhancing integrated beauty solutions, developing biotechnolog

Sep 8, 2025By Nam Hyun-woo
Amorepacific eyes W15 tril. in sales by 2035
Companies

IAA 2025 World’s largest mobility fair set to kick off in Germany

MUNICH — IAA 2025, the world’s most influential mobility exhibition, will kick off its six-day run Tuesday, bringing together global carmakers seeking deeper inroads into the highly lucrative European electric car market. Under the theme of “It’s all about mobility,” participants in this year’s event will focus on promoting their technological prowess in diverse areas, such as electric vehicles (EVs), autonomous driving and advanced in-vehicle technologies. The number and range of participants have widened for IAA 2025 compared to the previous two years. According to the event’s organizer, some 1,000 exhibitors from 39 countries will participate in this year’s fair, up from 750 in 2023. They span from conventional carmakers, including Hyundai Motor, BMW, Mercedes-Benz and Volkswagen, to software firms such as IBM and Google. LG Electronics and Hyundai Mobis will also attend IAA 2025 to showcase their latest auto parts solutions and seek partnerships with more global carmakers. Global auto makers will focus on promoting their vision for compact EVs in line with their growi

Sep 8, 2025By Lee Min-hyung
[IAA 2025] World’s largest mobility fair set to kick off in Germany
Companies

Grand Korea Leisure celebrates 20th anniversary

Grand Korea Leisure (GKL) celebrated the 20th anniversary of the company’s foundation, Friday. GKL is the public operator of the country’s largest foreigner-only casino brand, Seven Luck, under the Ministry of Culture, Sports and Tourism. With 150 employees attending the congratulatory event held at Seven Luck casino Gangnam COEX in Seoul, the company introduced a new entertainment platform to enhance its casino operations. “GKL will continue to be the country’s most truthful public company for the next 10 years,” GKL President Yoon Doo-hyun said during the event. “The company will always find a balance between its transparency and profitability. It aims to become Asia’s best in-city tourism platform company by 2035.” GKL was established in Sept. 6, 2005, to strengthen the country’s tourism offerings in anticipation of the "10 million foreign visitors" era, while addressing a chronic downturn in tourism, creating jobs and stimulating economic ripple effects across related sectors. It now operates three Seven Luck Casinos in Korea: Gangnam COEX, Dragon City, Seoul, and Bu

Sep 8, 2025By Jhoo Dong-chan
Grand Korea Leisure celebrates 20th anniversary
Business

Korea, Britain to hold intersessional talks on upgrading FTA this week

Korea and Britain were set to kick off their intersessional negotiations to improve their bilateral free trade agreement (FTA) on Monday, as the two sides seek to expand economic ties amid global trade uncertainties, Seoul's trade ministry said. The intersessional talks will run for five days through Friday in London and discuss ways to modernize the Korea-Britain FTA, which took effect in 2021, according to the Ministry of Trade, Industry and Energy. This week's meeting will be focused on making progress in seven sectors, including service and investment. Seoul and London signed the bilateral FTA in 2019 and have held five rounds of negotiations to upgrade the trade agreement since 2024, mainly to introduce new trade rules in areas such as supply chains and digital trade. "Korea and Britain are strategic partners that share core values, like the free trade system based on rules," Kwon Hye-jin, director general for FTA negotiations at the ministry, said. "More than a year and a half has passed since the first round of negotiations, so we will work to speed up the talks to reach a forward-

Sep 8, 2025By Yonhap
Korea, Britain to hold intersessional talks on upgrading FTA this week
Companies

Global private equity firms snap up K-beauty assets

Global private equity firms are snapping up beauty-related companies in Korea, driven by growing consumer demand across the world, industry officials said Sunday. KKR, a leading global private equity firm, said Thursday that it has acquired Samhwa for 733 billion won ($527.5 million) from TPG Capital Asia. Established in 1977, Samhwa specializes in producing plastic containers and pumps used to dispense cosmetic products. Last year, the company recorded 186.8 billion won in revenue and 31.4 billion won in operating profit. The acquisition is driven by KKR’s recognition of Samhwa’s unique competitive edge and the growing global demand for K-beauty products. Around 60 percent of its sales come from multinational clients such as L'Oreal, Estee Lauder, Chanel and LVMH. On Tuesday, Blackstone said that it signed a definitive agreement to make a significant investment in Juno Hair, Korea’s largest hair salon franchise. While the investment amount was not disclosed, industry sources said the private equity firm valued the company at approximately 800 billion won. Founded in 1982 with its f

Sep 8, 2025By Lee Yeon-woo
Global private equity firms snap up K-beauty assets
Companies

Musinsa advances into Malaysia's offline cosmetics market

Musinsa, a Korean fashion platform, said Monday it has entered Malaysia's offline cosmetics market with its private-label products as part of its global expansion strategy. Musinsa signed a deal in the first half of the year with Guardian Malaysia, a health and beauty store chain, to supply its Oddtype cosmetics line starting in August, the company said in a press release. Guardian Malaysia operates more than 500 outlets nationwide. Under the deal, Musinsa will supply 28 Oddtype products to 100 Guardian stores by June next year. It marks the second time Musinsa has introduced Oddtype products through an overseas retail partner, following Japan last year. "We are also planning to expand into the offline cosmetics markets in Singapore and Thailand through partnerships with local companies," a company official said. Separately, Musinsa plans to open its own offline stores in China later this year and in Japan next year. The company currently offers about 8,000 Korean fashion brands on its online platform and operates several offline stores domestically. Of those brands, some 3,000 are also avai

Sep 8, 2025By Yonhap
Musinsa advances into Malaysia's offline cosmetics market
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