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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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Tech & Science

LG CNS to establish R&D center in Silicon Valley

LG CNS, an information technology affiliate of Korea's LG Electronics, said Wednesday that it plans to establish a research and development (R&D) center in Silicon Valley in the United States. An LG CNS official said the center will focus on next-generation core technologies, including artificial intelligence (AI) and a robot foundation model. It will be LG Group's second R&D center in Silicon Valley, following one set up by LG Electronics. LG CNS has been expanding its AI capabilities through partnerships with global tech companies, including Canada's Cohere Inc.

Sep 3, 2025By Yonhap
LG CNS to establish R&D center in Silicon Valley
Companies

Hyundai Motor, GM Korea strikes threaten to disrupt Korea’s auto exports

Korea’s major carmakers face an increasing risk of production disruptions and subsequent export shocks in the wake of partial strikes at Hyundai Motor and General Motors (GM) Korea. Hyundai Motor's union launched a four-day partial strike starting Wednesday, after wage negotiations broke down, marking the first large-scale walkout since 2018. It is expected to cause major financial damage to the carmaker. In 2016, the company was estimated to have suffered losses of approximately 2.5 trillion won ($1.8 billion) in the wake of a large-scale strike. Its union workers suspended production for 166 hours, resulting in the carmaker unable to produce some 114,000 vehicles. GM Korea’s union began a three-day partial strike Monday, stopping work for four hours each day. GM Korea’s production suspension also comes as a major risk for the export-reliant Korean economy, as more than 80 percent of vehicles produced at its factories here are exported to the United States. GM Korea, along with Hyundai Motor, serves as a major pillar supporting Korean auto exports to the world’s largest economy.

Sep 3, 2025By Lee Min-hyung
Hyundai Motor, GM Korea strikes threaten to disrupt Korea’s auto exports
Companies

Korea Zinc chairman accused of using activist platform to pressure Young Poong

Young Poong said Tuesday that Korea Zinc Chairman Choi Yun-beom had joined forces with shareholder activist platform ACT to prepare an offensive against it amid a long-standing dispute over management rights of the world’s largest zinc smelter. Young Poong has been aligned with private equity firm MBK Partners in the dispute against Choi since last year. The Young Poong–MBK alliance is currently the largest shareholder of the smelter. According to Young Poong, ACT’s internal report from September 2024 used the phrase “attack on Y (Young Poong)” and outlined tactics such as reviewing the shareholder registry, filing injunctions and appointing temporary shareholder representatives. The plan predates the Young Poong–MBK alliance’s tender offer on Sept. 13, 2024, which aimed to become the smelting firm’s largest shareholder. “This undermines Choi’s claim of being a hostile M&A (merger and acquisition) victim,” a Young Poong official said. ACT also amended part of its contract with Korea Zinc to include Young Poong Precision (now called KZ Precision), a company affiliated

Sep 3, 2025By Jun Ji-hye
Korea Zinc chairman accused of using activist platform to pressure Young Poong
Companies

CJ CGV’s 4DX rides success with 'Demon Slayer: Infinity Castle'

The animated film “Demon Slayer: Infinity Castle” is seeing unprecedented success in CJ CGV’s 4DX theaters, not only in Korea but also globally, recording an exceptional sales rate. The cinema chain announced the Japanese animation packed out local 4DX theaters with over 90 percent seat occupancy during the first weekend since its release on Aug. 22. The number sets new opening weekend records, previously held by the 2022 sci-fi film “Avatar: The Way of Water.” The popularity of the 4DX experience for the film extends worldwide, scoring 80 percent occupancy on average for the film. In countries like Malaysia, Vietnam and Macau, the movie saw the highest opening weekend 4DX gross of the year. Taiwan proved especially strong, maintaining an average occupancy of over 90 percent for the week after it opened on Aug. 15. The 4DX screening offers an immersive viewing experience for the audience with action sequences brought to life through multisensory effects. For one of the key battle scenes between characters Shinobu and Doma, audiences are immersed with fragrance and cooling effe

Sep 3, 2025By Lee Gyu-lee
CJ CGV’s 4DX rides success with 'Demon Slayer: Infinity Castle'
Companies

Theborn Korea to globalize Korean cuisine with signature sauces

Major restaurant and food franchise company Theborn Korea on Wednesday launched a globalization campaign to promote Korean cuisine with a new lineup of signature sauces and simplified recipes. CEO Paik Jong-won, a celebrity restaurateur, unveiled seven all-purpose sauces, with four more set for release later this year. The sauces, branded TBK, represent the company’s bid to effectively globalize Korean foods by making recipes easier. The business-to-business products are for local distributors of food products. Paik called the global sauce market a “Pandora’s box,” citing Korea Customs Service data showing Korean sauce exports have risen steadily since 2020 to $400 million last year, with an average annual growth rate of 5.5 percent. “Franchise restaurants serving Korean foods must realize consistent quality regardless of who are running the business. A key to do so is sauce. This is especially helpful for foreigners who aren’t familiar with recipes for Korean foods,” Paik said during a press conference in Seoul. “Some large companies outside Korea wanting to introduce Kor

Sep 3, 2025By Ko Dong-hwan
Theborn Korea to globalize Korean cuisine with signature sauces
Banking & Finance

Insurers turn to AI to speed up claim settlement, boost customer trust

Insurance companies are increasingly adopting artificial intelligence (AI) in their claims processes to help in analyzing medical documents, accelerating payouts and enhancing the accuracy and reliability of claim evaluations, industry officials said Wednesday. They noted that claims processing is considered a crucial factor in shaping consumer satisfaction and trust in the insurance sector. Prompt payouts allow policyholders to realize the value of their coverage, while complicated or cumbersome procedures can reduce demand for insurance. This has sparked growing interest in whether AI-based assessments can help strengthen consumer confidence. Kyobo Life Insurance reported that its average claims payout time was just 0.24 days in the second half of 2024, the fastest among life insurers. This means claims were processed and paid in about two hours. The industry average stands at 0.67 days for life insurers and 0.69 days for non-life insurers, making Kyobo Life about three times faster. The company’s claim denial rate — the proportion of claims not paid — was also below 1 percent, t

Sep 3, 2025By Jun Ji-hye
Insurers turn to AI to speed up claim settlement, boost customer trust
Companies

Mercedes chooses LG over Chinese firms in $11 bil. battery deal

LG Energy Solution (LGES) has reaffirmed its status as the main supplier to Mercedes-Benz, signing additional deals to provide the German automaker with 107 gigawatt-hours (GWh) of batteries, enough to power 1.5 million electric vehicles (EVs). According to its regulatory filings Wednesday, LGES will provide Mercedes-Benz AG with 32 GWh of batteries in Europe from August 2028 to December 2035 and to the German carmaker’s affiliate in the United States from July 2029 to December 2037. The combined value of the two deals is estimated at $10.7 billion, as the batteries are presumed to be 46-series products, which cost $100 per kilowatt-hour. LGES plans to begin mass production of the next-generation cylindrical batteries next year at its Arizona plant, currently under construction. “In compliance with our agreements with the client, we cannot confirm additional details,” an LGES official said. Last October, LGES signed a separate deal with Mercedes to supply 50.5 GWh of EV batteries in North America and other markets between 2028 and 2038. At the time, industry officials also assumed

Sep 3, 2025By Park Jae-hyuk
Mercedes chooses LG over Chinese firms in $11 bil. battery deal
Business

Imported car sales rise 22.6% in Aug.; top 3 models from Tesla

Sales of imported vehicles in Korea jumped 22.6 percent in August from a year earlier, driven by strong demand for newly launched models, industry data showed Wednesday. The number of newly registered imported cars reached 27,304 units last month, up from 22,263 the same month last year, the Korea Automobile Importers & Distributors Association (KAIDA) said in a release. KAIDA said the monthly result was boosted by robust sales of new models such as the Tesla Model Y and Model 3. The three bestselling models in August were Tesla's Model Y, the Model Y Long Range and the Model 3, the data showed. Tesla's vehicle registrations more than tripled to 7,974 units last month from 2,208 a year earlier. "Many young customers in their 20s and 30s opted for Tesla models because prices became more affordable after government subsidies for all-electric vehicles were applied," an industry official said. Three German automakers — Volkswagen Group Korea, BMW Group Korea and Mercedes-Benz Korea — sold a combined 13,228 vehicles last month, down 7.9 percent from 14,368 units a year earlier. German brands

Sep 3, 2025By Yonhap
Imported car sales rise 22.6% in Aug.; top 3 models from Tesla
Companies

LS Electric signs $46 mil. deal for US data center project

LS Electric has secured a $46 million contract to supply its power distribution solutions for a hyperscale artificial intelligence (AI) data center project in the United States, the Korean electric equipment maker said Wednesday. The project was commissioned by an undisclosed global big tech firm. LS Electric will begin phased deliveries of its power distribution products for gas-powered generation facilities within a microgrid there. The company will deliver the solutions for six months starting February 2026. The latest deal will expand LS Electric’s global footing rapidly at a time when demand for AI and cloud computing surges in the world’s largest economy. Reliable power supply to data centers has particularly emerged as a pressing issue in recent years, as aging transmission infrastructure and limited electricity availability have prompted a shift toward decentralized energy systems like microgrids. LS Electric is recognized for its global competitive edge in direct current power distribution equipment. The company expressed hopes to leverage the latest deal as a major steppin

Sep 3, 2025By Lee Min-hyung
LS Electric signs $46 mil. deal for US data center project
Companies

SK hynix adopts next-generation ASML production equipment for DRAM

Korea's No. 2 chipmaker SK hynix said Wednesday it has adopted advanced production equipment at a domestic memory production line to accelerate the development of next-generation chips. The company said it has installed the industry's first High Numerical Aperture Extreme Ultraviolet (High NA EUV) lithography system at its M16 chip fabrication plant, located at its main production base in Icheon, south of Seoul. High NA EUV refers to an advanced lithography system that delivers better resolution by applying a larger numerical aperture, which measures an optical system's ability to collect light. The equipment, produced by the Netherlands-based ASML, offers a 40 percent improvement in numerical aperture, along with 1.7 times higher precision, according to the company. SK hynix said the system is expected to accelerate the development of its next-generation memory products. "We expect the addition of the critical infrastructure to bring our technological vision we have been pursuing into reality," said Cha Seon-yong, who heads the company's research and development. "We aim to enhance our le

Sep 3, 2025By Yonhap
SK hynix adopts next-generation ASML production equipment for DRAM
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