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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

    3 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

InterviewSeasoned shipyard worker behind turtle ship gifted to Trump

A golden miniature turtle ship that President Lee Jae Myung offered to U.S. President Donald Trump to commemorate their first summit at the White House on Monday (local time) has drawn public attention since the presidential office released photos of gifts exchanged by the two leaders. Modeled after the battleship designed by Adm. Yi Sun-sin of the Joseon Dynasty (1392-1910) to repel Japanese naval invasions between 1592 and 1598, the miniature was engraved with Yi's famous quote: "Those who seek death shall live and those who seek life shall die." The craftsman behind the symbolic gift is Oh Jeong-cheol, a 56-year-old assembler who has worked for HD Hyundai Heavy Industries in Ulsan since 1987. He was recognized by the president in 2017 as a Master Hand in machine assembling, after earning a title of excellent skilled technician from the Ministry of Employment and Labor in 2014. Oh said he spent two weeks in August making the miniature, after a request from the Ministry of Foreign Affairs in late July. At that time, Seoul and Washington had signed a tariff deal and agreed to revive U.S.

Aug 28, 2025By Park Jae-hyuk
Seasoned shipyard worker behind turtle ship gifted to Trump
Banking & Finance

Kbank partners with BPMG for global stablecoin financial services

Kbank signed a memorandum of understanding with domestic blockchain company BPMG, the digital bank announced Wednesday, as it accelerates efforts to create stablecoin-based financial services. Established in 2021, BPMG offers services across blockchain and artificial intelligence (AI), including the KMINT multichain wallet, blockchain platform development and stablecoin consulting. The company holds multiple core technology patents in blockchain and has expanded the ecosystem through collaborations with various partners. Both parties agreed that the practical applications of stablecoins lie in overseas remittances, currency exchange and payments, and decided to jointly develop specific business models related to these areas while cooperating on building the system. One of the main goals is to reduce remittance times and lower transaction costs by leveraging blockchain's distributed ledger technology. The two companies also plan to develop financial services that integrate AI and blockchain. Based on BPMG's patents, they aim to co-develop technology that can automatically analyze regulato

Aug 27, 2025By Lee Yeon-woo
Kbank partners with BPMG for global stablecoin financial services
Tech & Science

NCSOFT's new titles attract global attention at Gamescom

NCSOFT has successfully finished its outing to Gamescom 2025, the world’s largest gaming exhibition, capturing partner companies’ interest in the company’s new titles targeting global gamers. NCSOFT set up a business-to-business (B2B) booth at Gamescom 2025, which ended its five-day run on Aug. 24 after drawing 357,000 visitors, including trade visitors from global game firms. It also set up a rest area for general visitors at the event’s business-to-consumer exhibition area. At its B2B booth, the company hosted screenings and demo events to showcase seven new titles — including AION 2, Cinder City, Time Takers and Limit Zero Breakers — across various genres. NCSOFT also offered a glimpse of its new titles during the exhibition’s Opening Night Live (ONL) on Aug. 19, which drew 72 million viewers on its livestream, making a strong impression on fans. Of them, Cinder City, a massively multiplayer online tactical shooter unveiled as Nvidia’s latest RTX flagship title, drew attention at ONL with its in-game footage. The scenes showcased dynamic combat using a range of battles

Aug 27, 2025By Nam Hyun-woo
NCSOFT's new titles attract global attention at Gamescom
Companies

HD Hyundai to merge 2 shipbuilding subsidiaries in Ulsan

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), an intermediate holding company overseeing HD Hyundai’s shipbuilding business, announced plans Wednesday to merge HD Hyundai Heavy Industries (HHI) and HD Hyundai Mipo in a move to outpace competitors amid increasing shipbuilding cooperation with the United States. Once the merger of the two Ulsan-based shipbuilding subsidiaries is complete, the integrated entity will operate as HD HHI. Citing recent mergers of major shipbuilders in China and Japan, HD KSOE said the integration will especially bolster the company’s competitiveness in the naval vessel market. Unlike HD HHI, which has a proven record in building and exporting warships, HD Hyundai Mipo does not have a license to construct naval vessels, though it possesses docks and facilities suited for warship construction. According to the U.K. defense industry magazine Janes, new contracts for naval ships worldwide are expected to total 2,100 over the next 10 years, collectively worth $360 billion. HD KSOE said the integrated HD HHI aims to generate 10 trillion won ($7.1 billion

Aug 27, 2025By Park Jae-hyuk
HD Hyundai to merge 2 shipbuilding subsidiaries in Ulsan
Banking & Finance

Banks prepare to resume ELS sales, eyeing boost in non-interest income

Banks are preparing to resume sales of equity-linked securities (ELS) after their suspension following a controversy over the mis-selling of products tied to the Hang Seng China Enterprises Index (HSCEI) in Hong Kong, industry officials said Wednesday. They noted that ELS products are viewed as a potential new source of non-interest income. However, with financial authorities taking longer than expected to finalize guidelines, banks are unlikely to restart sales in September as initially anticipated, and are instead preparing to resume as early as October. ELS products are structured financial instruments with returns tied to the performance of a specific stock or stock index. The HSCEI ELS controversy centered on significant consumer losses amid a combination of unfavorable factors such as China’s property market restrictions, U.S.-China tensions and global interest rate hikes. Banks came under fire for causing heavy losses by selling large volumes of complex, high-risk financial products without providing sufficient explanation to buyers. In response, the Financial Services Commission

Aug 27, 2025By Jun Ji-hye
Banks prepare to resume ELS sales, eyeing boost in non-interest income
Tech & Science

Fabless chip firm FADU seeks to restore tarnished reputation

FADU, a Kosdaq-listed fabless semiconductor firm, said Wednesday its earnings are showing signs of improvement following contracts with global hyperscalers, pledging to regain investor trust. “It took 10 years to get recognition in the global market as a system semiconductor fabless company, and we have been through many difficulties, but we are now coming out of the tunnel,” FADU CEO Lee Ji-hyo said during a press conference marking the company’s 10th anniversary. “Among the world’s top four hyperscalers, FADU has secured mass production supply deals with two, with talks underway with another. We expect to finalize the deal by the end of this year and begin visible mass production from next year, with the goal of supplying all four within the next two to three years.” FADU designs solid-state drive (SSD) controllers and other storage platforms for hyperscalers such as Amazon Web Service, Microsoft, Google Cloud, Meta and other large-scale cloud service providers. An SSD is a data storage device based on NAND memory chips, which have replaced conventional hard disk drives in

Aug 27, 2025By Nam Hyun-woo
Fabless chip firm FADU seeks to restore tarnished reputation
Banking & Finance

Regulator to get tougher on stock manipulation, accounting flaws

The head of the oversight body for the local stock market said Wednesday that his agency will get tougher on stock manipulation and accounting flaws. Kwon Dae-young, the head of the Securities and Futures Commission under the Financial Services Commission (FSC), said the commission will sternly penalize illegal and unfair practices that undermine market principles. "We will also take stern measures against accounting flaws," he said. Kwon, who also serves as vice chairman of the FSC, said his agency will update related regulations to meet fast changes in the market conditions. The country's financial authorities have been preaching for a zero-tolerance approach and respond firmly to acts that undermine market order and fairness, such as stock price manipulation and the abuse of dominant market positions. President Lee Jae Myung earlier called for stern measures against stock manipulation and unfair trading practices as part of efforts to boost the local financial market. Starting in October, those caught illegally trading stocks will face fines of up to twice the amount of their unjust gai

Aug 27, 2025By Yonhap
Regulator to get tougher on stock manipulation, accounting flaws
Companies

Hyundai Mobis seeks 2-track growth in auto chips, robotics

Hyundai Mobis will push for a two-track growth strategy in automotive semiconductors and robotics to preemptively seize opportunities in an era of electrification and robot-driven smart factories, the auto parts maker said during its CEO Investor Day Wednesday. Hyundai Mobis CEO Lee Gyu-suk presented the company's long-term vision to reduce its reliance on traditional auto parts sales and seek new growth engines in chips used for electric vehicles (EVs) and smart robot components. In semiconductors, the company is pursuing a two-track strategy in system semiconductors and power semiconductors. Hyundai Mobis is developing system-on-chips (an electronic integrated circuit) for in-vehicle communication and battery monitoring integrated circuits. It is also accelerating in-house mass production of power semiconductors, which are considered critical components for EV drive systems. The company has so far developed 16 types of chips and plans to produce 20 million units this year by investing more in semiconductor research. Hyundai Mobis recently won the highest ISO 26262 safety rating and re

Aug 27, 2025By Lee Min-hyung
Hyundai Mobis seeks 2-track growth in auto chips, robotics
Companies

Incheon airport to open dedicated aisle for foreign business travelers

Incheon International Airport will launch a new immigration lane for foreign business travelers Sunday, aimed at cutting waiting times and improving convenience. The dedicated lane, reserved for foreign travelers with investment or business purposes in Korea, allows faster processing through a separate inspection window. The measure, proposed by business lobby groups and company representatives during a June meeting with President Lee Jae Myung, addresses complaints that foreign investors often wait 24 to 35 minutes on average — and sometimes up to 92 minutes — at regular immigration counters. By comparison, Korean travelers typically wait less than two minutes at unmanned automated inspection kiosks and about five minutes with an immigration officer. The new system will begin with a test run until December, before its official launch. Depending on feedback, the service may expand to Gimpo International Airport in Seoul and Gimhae International Airport in Busan. Airport authorities also plan to introduce fully automated inspections to further cut down processing times. The service is

Aug 27, 2025By Ko Dong-hwan
Incheon airport to open dedicated aisle for foreign business travelers
Companies

Sangdong Mine to sustain AKTC’s global tungsten supply

The Sangdong Mine in Gangwon Province, currently under expansion for reopening before the end of this year after its shutdown in 1994, will produce the largest volume of tungsten among Almonty Industries’ global reserves, according to the company’s Korean subsidiary, Almonty Korea Tungsten Corp. (AKTC). Almonty Industries in 2015 wholly acquired Canada-based Woulfe Mining, which had failed to reopen the Sangdong Mine in Yeongwol County. The company then set up AKTC to take charge of the key future reserve. AKTC said that once the expansion is complete, the mine will dominate Almonty Industries’ overall mineral output. The company currently runs production at Panasqueira Mine in Portugal and owns tungsten mines in Los Santos, Spain. AKTC estimates that the Sangdong Mine, first discovered in 1916, will provide enough minerals to remain productive for more than 90 years. The company said past drilling indicates the mine contains the world’s largest tungsten deposits. The company added that the minerals there have a grade three times higher than both Chinese and global averages. It a

Aug 27, 2025By Ko Dong-hwan
Sangdong Mine to sustain AKTC’s global tungsten supply
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