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  • Tech & Science

    Tech leaders showcase technology at Quantum Korea 2026

    Leading technology companies and institutions showcased their latest quantum technology developments at Quantum Korea 2026, which opened on Thursday, as the government seeks to position Korea as a global leader in quantum technology through various policy initiatives. Hosted by the Ministry of Science and ICT since 2023, Quantum Korea will run through Saturday. This year’s edition focuses on how quantum technologies are being implemented and used in actual settings. A total of 56 companies and research organizations from 12 countries, including SK Telecom and KT, participated in the event, displaying quantum computer models and showcasing technologies that use quantum-based encryption and other security solutions. The telecom companies focused on quantum security solutions, as advances in quantum computing are expected to increase the risk of existing encryption systems being compromised. The key concept in their exhibitions was quantum key distribution (QKD) technology. QKD sends encryption keys using the quantum states of photons. Because observing a photon changes its quantum state,

    2 MIN READBy Nam Hyun-woo
    Tech leaders showcase technology at Quantum Korea 2026
  • Companies

    Korea expresses regret over US House committee’s 'lopsided' Coupang report

    2 MIN READBy Ko Dong-hwan
    Korea expresses regret over US House committee’s 'lopsided' Coupang report
  • Companies

    KEPCO rallies industry to commercialize direct current power systems

    2 MIN READBy Lee Kyung-min
    KEPCO rallies industry to commercialize direct current power systems
  • Companies

    BYD Korea looks to offset subsidy exclusion with PHEV sales

    2 MIN READBy Lee Min-hyung
    BYD Korea looks to offset subsidy exclusion with PHEV sales
  • Companies

    POSCO resets portfolio, expands into energy, lithium

    2 MIN READBy Ko Dong-hwan
    POSCO resets portfolio, expands into energy, lithium
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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

Genesis BBQ to expand Philippine outlets to 21 by year-end

Genesis BBQ, a Korean fried chicken franchise, said Friday it will increase the number of its outlets in the Philippines to 21 by the end of this year amid the growing popularity of Korean food. BBQ entered the Southeast Asian country in November 2022 by opening its first outlet in Manila. The number has since grown to 18, the company said in a press release. The company plans to add three more stores this year — one in Cebu, one in Baguio City and one in SM City North EDSA, a shopping mall in Quezon City. "Along with its signature fried chicken, BBQ has been offering Korean dishes such as bibimbap, tteokbokki, soft tofu stew and kimchi fried rice at its overseas outlets to attract customers," a company spokesperson said. Tteokbokki is a spicy street food made with rice cakes, while bibimbap is a dish of warm white rice topped with seasoned vegetables and chili pepper paste. BBQ is also preparing to open 10 additional outlets in the Philippines, a country of more than 110 million people, by the end of 2026, the release said. The company operates more than 2,300 outlets in Korea and about

Sep 5, 2025By Yonhap
Genesis BBQ to expand Philippine outlets to 21 by year-end
Companies

KKR acquires Korean cosmetics container maker for $526.6 mil.

Global investment firm Kohlberg Kravis Roberts & (KKR) has acquired a Korea Korean cosmetics container maker for 733 billion won ($526.6 million), industry sources said Friday. According to the sources, KKR has recently decided to acquire the entire stake in Samhwa owned by Tarrant Capital LLC (TPG), a U.S. alternative investment firm. TPG had acquired Samhwa for 30 billion won two years ago. Established in 1977 as a mold-making firm, Samwha manufactures cosmetic containers for various local and international brands. The acquisition comes as global private equity firms make aggressive investments in local companies within the beauty and wellness sector, amid the worldwide popularity of K-beauty products and services. On Tuesday, U.S. alternative asset manager Blackstone agreed to make a significant investment in local hair care business JUNO, though the financial terms of the deal were not disclosed.

Sep 5, 2025By Yonhap
KKR acquires Korean cosmetics container maker for $526.6 mil.
Companies

Hanwha's investment arm sells 4.27% stake in Hanwha Ocean for MASGA project

Hanwha Impact Partners, an investment affiliate of Hanwha Group, said Friday it has sold its remaining 4.27 percent stake in shipbuilder Hanwha Ocean worth about 1.4 trillion won ($1 billion). The move involved the sale of 13.08 million common shares at 107,100 won per share, according to a company regulatory filing. The buyers were mostly foreign institutional investors, with no Hanwha affiliates participating in the purchase. Hanwha Group said funds will be used for projects including the Make American Shipbuilding Great Again (MASGA) initiative, a Korea-U.S. shipbuilding cooperative project, as well as new investments and debt repayment. The share sale came after Hanwha pledged an additional $5 billion investment in Hanwha Philly Shipyard in Philadelphia during a Korea-U.S. summit held in Washington last month. "This move is part of efforts to support Hanwha Ocean's leap toward becoming a world-class shipbuilder," a group official said.

Sep 5, 2025By Yonhap
Hanwha's investment arm sells 4.27% stake in Hanwha Ocean for MASGA project
Companies

SK hynix retains No. 1 spot in global DRAM market in Q2: report

SK hynix has retained its lead in the global dynamic random access memory (DRAM) market in the second quarter, widening its gap with domestic competitor Samsung Electronics, industry data showed Friday. Global DRAM sales totaled $30.9 billion in the April-June period, up 17.3 percent from the previous quarter, amid rising DRAM contract prices and growing shipments of high bandwidth memory (HBM), according to the data from global market research firm Omdia. SK hynix's market share rose to 39.5 percent from 36.9 percent in the first quarter, maintaining the top position for the second consecutive quarter. Samsung Electronics saw its market share fall from 34.4 percent to 33.3 percent over the cited period. As a result, the gap between the two chipmakers widened from 2.5 percentage points to 6.2 percentage points. In terms of sales, SK hynix posted $12.2 billion in the second quarter, while Samsung trailed behind with $10.3 billion. SK hynix had claimed the top spot in the DRAM market in the first quarter for the first time since Samsung became the global leader in 1992. Another market tracke

Sep 5, 2025By Yonhap
SK hynix retains No. 1 spot in global DRAM market in Q2: report
Companies

Nongshim’s Shin Ramyun rides on ‘KPop Demon Hunters’ fame

Nongshim is attempting to ride the trend of Netflix’s smash-hit animation “KPop Demon Hunters” for its flagship instant noodle product Shin Ramyun to expand worldwide, especially with its competitor Samyang's Buldak instant noodles gaining ground globally. On Aug. 20, the leading instant noodle maker rolled out special packaging for its products, including its shrimp crackers and classic Shin brand instant noodles, to feature characters from “KPop Demon Hunters” for local and international distribution. The animated film about a K-pop girl group battling against supernatural danger has garnered massive success, becoming the most-watched title ever on the platform. With the animation's global fame, songs, food and fashion featured in the film have also been put in the international spotlight, including the instant noodles eaten by the main characters, which resembled Nongshim's classic Shin brand. The collaboration quickly generated buzz, as the company’s stock rose by 6.3 percent on the day of the announcement. Its stock closed at 426,500 won ($306) on Wednesday, an increase

Sep 5, 2025By Lee Gyu-lee
Nongshim’s Shin Ramyun rides on ‘KPop Demon Hunters’ fame
Tech & Science

Calls grow for probe into KT, LG Uplus data leak allegations

Seoul YMCA urged the Personal Information Protection Commission to investigate alleged data leaks at KT and LG Uplus on Thursday, filing a formal request. “Recently, KT and LG Uplus users have been worried that their personal information may have also been leaked,” the civic group said. “This follows the government’s initial announcement in July that inspections of KT and LG Uplus showed ‘no damage.’ However, its repeated revisions — from ‘under review’ to ‘tentative data breach’ and ‘under inspection’ — have created confusion and uncertainty.” Noting that the delay in disclosing the risks of possible leakage only heightens confusion among the public and damage to the companies’ subscribers, the group claimed that the telecoms have previous track records of attempting to conceal breaches in personal information. “LG Uplus has a history of failing to disclose or delaying the reporting of personal data breaches, with incidents in 2018 and 2023. On both occasions, the company only notified the public of the leaks after receiving alerts from the Korea Intern

Sep 4, 2025By Lee Gyu-lee
Calls grow for probe into KT, LG Uplus data leak allegations
Tech & Science

Science ministry to join forces with Google to tackle voice phishing

The science ministry on Thursday inked an agreement with U.S. tech giant Google LLC to make joint efforts to root out voice phishing scams through advanced detection services. The Ministry of Science and ICT and the Android developer signed a memorandum of understanding (MOU) in Seoul, announcing the launch of the Enhanced Fraud Protection (EFP), a security solution, in Korea. Government data earlier showed that the combined financial damage caused by such crimes reached 640 billion won ($460 million) in the first half of 2025, nearly double from the same period last year. The EFP program will automatically cut off applications that request access to sensitive information, including attempts made through social media messages, according to the ministry. The solution can be applied to smartphone models released after 2015 without additional installation. "Through the launch of EFP, around 35 million Android smartphone users in Korea can be protected," the ministry said. Google first launched the EFP in Singapore in February 2024, later introducing the program in other countries, including I

Sep 4, 2025By Yonhap
Science ministry to join forces with Google to tackle voice phishing
Companies

Hanwha Ocean apologizes for fatal accident involving Brazilian client at shipyard

Hanwha Ocean, a major Korean shipbuilder, on Thursday apologized for a fatal accident involving a supervisor from a Brazilian client company at one of its construction sites. On Wednesday, the Brazilian supervisor in his 30s died after falling from a vessel under construction at Hanwha Ocean's shipyard in Geoje, 398 kilometers southeast of Seoul, the company said. In a written apology, Hanwha Ocean Chief Executive Officer (CEO) Kim Hee-cheul expressed deep regret over the accident, and offered condolences to the Brazilian government and the shipping company. "Hanwha Ocean immediately suspended related operations on the vessel after the accident. We are working with relevant authorities to determine the exact cause and will take all necessary measures to prevent a recurrence," he said. The supervisor is believed to have fallen to his death while conducting a load test on the vessel's winch equipment, according to the company. It marked the first industrial accident reported by Hanwha Ocean this year, as the government moves to apply stricter safety regulations at construction sites. Hanwha

Sep 4, 2025By Yonhap
Hanwha Ocean apologizes for fatal accident involving Brazilian client at shipyard
Business

Global consortium with KHNP begins refurbishment of Romania's nuclear reactor

A global consortium that includes Korea's state-run Korea Hydro & Nuclear Power (KHNP) has launched a large-scale project to refurbish an aging nuclear reactor at Romania's Cernavoda power plant, KHNP said Thursday. A groundbreaking ceremony took place Wednesday (local time) to mark the start of the project, valued at approximately 2.8 trillion won ($2.01 billion). Of the total, KHNP's contract share amounts to about 1.2 trillion won. Located about 170 kilometers east of the Romanian capital, the unit 1 reactor, with a capacity of 700 megawatts, has operated since 1996, and its 30-year license is set to expire in 2027. The Romanian government has sought to extend the unit's operation for another 30 years. The refurbishment project, which is scheduled to take about 65 months, involves the complete replacement of the reactor systems and power-generating turbines, as well as the construction of new infrastructure, such as radioactive waste storage facilities. KHNP described the overhaul as equivalent to a full-scale rebuild, leaving only the building's structural frame intact. KHNP will over

Sep 4, 2025By Yonhap
Global consortium with KHNP begins refurbishment of Romania's nuclear reactor
Companies

HD Hyundai vice chair inspects shipyard to ensure safety

HD Hyundai Executive Vice Chairman Chung Ki-sun on Thursday inspected its shipyard in the nation’s southwestern county of Yeongam to raise awareness of its safety-driven growth. During the visit to HD Hyundai Samho’s shipyard in South Jeolla Province, Chung pledged to increase the budget for safety management. “We will never trade safety for anything,” Chung said during a meeting with HD Hyundai Samho’s top executives and safety officials, including CEO Kim Jae-eul and staff responsible for overseeing safety at the facility. “Under any circumstances, we will place the highest priority on the lives of our employees." He also urged the firm’s executives to carry out their management activities in the field. “Any decisions and actions by leaders have a significant influence on building a safety-driven corporate culture,” Chung said. Toward that end, the company pledged to invest 3.5 trillion won ($2.51 billion) by 2030 to enhance the safety of its production lines. The budget will be spent on establishing advanced safety systems and facilities, HD Hyundai said. The company al

Sep 4, 2025By Lee Min-hyung
HD Hyundai vice chair inspects shipyard to ensure safety
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