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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
  • Banking & Finance

    Shinhan, Kiwoom face probe over JTBC bond sales amid default fallout

    2 MIN READBy Jun Ji-hye
    Shinhan, Kiwoom face probe over JTBC bond sales amid default fallout
  • 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
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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

ESS batteries take center stage ahead of US removal of EV tax credit

Korean battery manufacturers are ramping up their focus on energy storage systems (ESS) as the United States moves to end subsidies for electric vehicle (EV) purchases. In July, U.S. President Donald Trump signed the One Big Beautiful Bill Act into law, announcing the planned elimination of up to $7,500 in tax credits for EV purchases after Sept. 30, seven years ahead of the original expiration date. Bracing for a longer-than-expected slowdown in U.S. demand for EV batteries, the top three battery makers here are broadening their foothold in the North American ESS market. LG Energy Solution (LGES) and Samsung SDI will attend the Renewable Energy Plus 2025 event. Both companies plan to showcase their newest ESS technologies at North America's largest renewable energy exhibition, scheduled for Sept. 8-11 in Las Vegas. LGES, the first battery manufacturer to mass-produce lithium iron phosphate (LFP) batteries for ESS at a U.S. facility, announced Sunday it will display its prismatic LFP battery. This marks the first public showing of the battery model known for high resistance to external sh

Aug 31, 2025By Park Jae-hyuk
ESS batteries take center stage ahead of US removal of EV tax credit
Companies

Hanwha improves fundamentals in 3 years under Vice Chairman Kim Dong-kwan

Hanwha Group Vice Chairman Kim Dong-kwan has marked his third year in the post with significant improvements in the business fundamentals of the heavy-industry-oriented conglomerate under his leadership. Kim, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been at the forefront of the group’s management since being appointed vice chairman on Aug. 29, 2022. One of the most noteworthy changes under his leadership is the rapid growth of the group’s corporate value. As of August this year, the combined market capitalization of Hanwha’s 13 listed companies stood at 120.7 trillion won ($87 billion), up 177.4 percent from 43.5 trillion won at the end of last year. During the same period, the benchmark KOSPI grew 30.6 percent, meaning the market valuation on Hanwha Group has far outpaced the average. Playing a pivotal role are the group’s aggressive and timely investments in industries with strong momentum, especially shipbuilding and defense. In 2021, before Kim’s promotion to vice chairman, Hanwha’s defense and shipbuilding units posted a combined 6.76 trillion won in sa

Aug 31, 2025By Nam Hyun-woo
Hanwha improves fundamentals in 3 years under Vice Chairman Kim Dong-kwan
Companies

Hyundai's new hydrogen car sales hit around 7,000 units since launch

Hyundai Motor said Sunday sales of its face-lifted Nexo hydrogen-powered sport utility vehicle (SUV) have reached nearly 7,000 units since its launch in June, far outpacing its predecessor. Sales of the upgraded hydrogen fuel cell electric vehicle (FCEV) model came to 6,767 units in the June-August period, far surpassing the 1,500 units recorded by the first-generation model during the first three months after its release in 2018, according to the company. The new model boasts a driving range of up to 720 kilometers on a single charge and a high-efficiency powertrain with a maximum motor output of 150 kilowatts. To promote hydrogen cars, Hyundai Motor provided 32 Nexo SUVs as protocol vehicles for the Asia-Pacific Economic Cooperation Energy Ministerial Meeting held in the southern port city of Busan last week. "The rising sales of the Nexo, along with its use at international events, indicate hydrogen mobility is gradually becoming part of everyday life," a company official said.

Aug 31, 2025By Yonhap
Hyundai's new hydrogen car sales hit around 7,000 units since launch
Companies

Number of Kakao subsidiaries down 30% since 2023 amid business reshuffle

The number of subsidiaries under Korean IT giant Kakao fell 30 percent over the past two years, data showed Sunday, amid the company's efforts to streamline its businesses. The operator of Korea's most popular mobile messenger, KakaoTalk, had 102 subsidiaries as of Sunday, sharply down from 147 in May 2023, according to the data. The decrease came as Kakao carried out a company-wide reshuffle to focus on its artificial intelligence (AI) business while streamlining non-essential operations. Recently, Kakao Games, the gaming arm of Kakao, completed the process of selling its shares in Neptune to Krafton, after announcing the plan in a regulatory filing in April. Kakao plans to unveil its latest AI vision during an annual conference scheduled for September, including the launch of an AI platform under a unified brand, Kanana, as well as other related services in collaboration with U.S. tech giant OpenAI.

Aug 31, 2025By Yonhap
Number of Kakao subsidiaries down 30% since 2023 amid business reshuffle
Companies

Samsung Electronics tops Indian TV market in H1: data

Samsung Electronics ranked first in the Indian TV market in the first half of 2025, data showed Sunday, backed by robust sales of large-sized premium models. The Korean tech giant accounted for 23.8 percent of the market during the January-June period, maintaining the top spot since 2017, according to data compiled by global market research firm Omdia. LG Electronics, Samsung's smaller Korean rival, ranked second with a 16.5 percent share, followed by China's Xiaomi with 7.9 percent. Industry watchers said Samsung was able to sustain strong sales in India with its cutting-edge large-screen models, including Neo QLED and OLED TVs. Educational content offered through Samsung's smart TV platform, along with global entertainment titles, including programs from Korea, also helped the company maintain its leading spot, they added. The combined sales of TVs in India were estimated at 11.29 million units in 2024.

Aug 31, 2025By Yonhap
Samsung Electronics tops Indian TV market in H1: data
Tech & Science

Korean chipmakers face heightened uncertainties on planned US license restriction

Korean chipmakers are facing growing concerns as the U.S. administration plans to introduce a stricter export control mechanism for Samsung Electronics Co. and SK hynix Inc., in addition to its hefty tariff scheme, according to industry watchers Saturday. On Friday (local time), the U.S. Commerce Department announced a plan to strip the two Korean chipmakers, as well as Intel Semiconductor Ltd., of "validated end-user" (VEU) status, a move that will require them to secure individual export licenses for sending certain U.S. chipmaking equipment to their plants in China. Until now, Samsung Electronics and SK hynix could ship certain U.S. semiconductor equipment to pre-approved sites under a general authorization with their VEU status. "We have been able to reduce business uncertainties even amid Washington's export controls on China thanks to the VEU status, but with the planned revocation of the status, we will have to face short-term damage," an industry official said on condition of anonymity. "The U.S. administration has been rolling out new or revised semiconductor regulations every t

Aug 30, 2025By Yonhap
Korean chipmakers face heightened uncertainties on planned US license restriction
Companies

US to make it harder for SK hynix, Samsung to make chips in China

The U.S. Commerce Department announced a plan Friday to strip South Korean tech firms Samsung Electronics Co. and SK hynix Inc. of "validated end-user (VEU)" status, a move that will require them to secure licenses for sending certain U.S. chipmaking equipment to their plants in China. On the Federal Register, the department's Bureau of Industry and Security said it will revise the existing VEU authorizations list for China by removing the companies as well as Intel Semiconductor Ltd. The department stressed its intention not to grant licenses to expand their capacity or upgrade technology at plants in China. During the previous Biden administration, Samsung Electronics and SK hynix were designated as VEUs, a status that reduces the licensing burden on the companies by allowing them to ship certain U.S. semiconductor equipment to pre-approved sites under a general authorization instead of individual export licenses. The decision will take effect 120 days after the official date of its publication on Sept. 2. In a press release, the Commerce Department said that the plan to revoke the VEU

Aug 29, 2025By Reuters
US to make it harder for SK hynix, Samsung to make chips in China
Tech & Science

15-year prison term sought for Kakao head Kim Beom-su

Prosecution on Friday sought a 15-year prison term for Kakao founder Kim Beom-su for allegedly attempting to manipulate the price of SM Entertainment’s stock in February 2023, during Kakao’s acquisition of the K-pop management agency. During a hearing session at Seoul Southern District Court, prosecutors sought the prison term and 500 million won ($360,000) in fines for Kim, under suspicion for ordering Kakao Group executives to manipulate SM Entertainment’s stock price to sway the outcome of a bidding race against HYBE. The prosecution argued that Kim, as the head of Kakao Group and its ultimate decision-maker, continued to oppose lawful competitive methods and was ‘‘the ultimate beneficiary of the criminal proceeds.” Kim was arrested in July last year and indicted the following month, but was released on bail in October for health reasons. In March this year, he stepped down from Kakao’s top decision-making council. At the time, Kakao did not disclose his condition, but it was reported that he is suffering from bladder cancer. Under the Capital Markets Act, crimes such as

Aug 29, 2025By Nam Hyun-woo
15-year prison term sought for Kakao head Kim Beom-su
Business

K-Pass to offer greater bargain for public transit from 2026

The government will launch new features for K-Pass, a cash-back public transit pass, offering a greater bargain for bus and subway rides across Korea, starting next year. The K-Pass was first introduced in May last year as a public transit card offering a monthly fare rebate ranging from 20 to 53 percent when using buses or subways at least 15 times a month. According to the Ministry of Land, Infrastructure and Transport on Friday, the new K-Pass will introduce a flat fee scheme to cut prices for each public transit ride. By purchasing the new K-Pass for 62,000 won ($45) per month, users can enjoy free public bus and subway rides until accumulated fares reach 200,000 won, by getting refunded 138,000 won in following month. Transit fees spent beyond the mileage cap are not covered by the pass. For teenagers, seniors, parents with three children or more and those living in financial poverty, the pass price is discounted to 55,000 won. The new K-Pass will also offer a higher-priced option that includes GTX, a high-speed subway network for the country’s capital area, and buses connecting ci

Aug 29, 2025By Ko Dong-hwan
K-Pass to offer greater bargain for public transit from 2026
Banking & Finance

Banking group CEOs under pressure to reassure foreign investors over stock decline

The leaders of four major banking groups in Korea are facing pressure to reassure foreign investors as domestic banking stocks experience a significant downturn, according to industry officials Friday. The urgency comes ahead of potential meetings in September between the CEOs of KB, Shinhan, Hana and Woori Financial Groups and representatives from global investment banks JP Morgan and Morgan Stanley during their visits to Seoul. In addition, each CEO is scheduled to embark on overseas investor relations trips in October, coinciding with the 2025 Annual Meetings of the World Bank Group and International Monetary Fund. These global gatherings are expected to draw investors, economists and policymakers from around the world, intensifying the need for transparent communication on corporate strategy and shareholder value. “These occasions intensify the need for clear communication to restore investor confidence, especially as banking stock prices remain on a downward trajectory,” said Jung Eui-jung, head of the Korean Stockholders’ Alliance. According to bourse operator Korea Exchange,

Aug 29, 2025By Yi Whan-woo
Banking group CEOs under pressure to reassure foreign investors over stock decline
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