my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • 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
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

InterviewAlmonty Korea transforms Yeongwol into global tungsten hub

Almonty Korea Tungsten Corp. (AKTC) is resurrecting a defunct mine in Gangwon Province to transform it into a strategic global supplier of tungsten, a high-density mineral that is essential across aerospace, defense, electronics, manufacturing and other industries. The development is the company's bid to make Korea the world's second-largest supplier of the mineral next to China. China currently supplies more than 80 percent of the world's tungsten output. The Sangdong Mine in Yeongwol County closed in 1994 due to competition from cheaper Chinese imports, but is now set to become a key tungsten supplier for the United States, Korea and other allied countries, according to Lewis Black, CEO of AKTC. He said the U.S. Department of Defense will start banning Chinese, Russian and North Korean tungsten from its procurement in 2027. The Korean subsidiary of Almonty Industries is currently expanding the mine’s ore extraction and treatment facilities. With the first phase of construction now complete, the second phase is due for completion within two years. “Following the first phase’s comp

Aug 27, 2025By Ko Dong-hwan
Almonty Korea transforms Yeongwol into global tungsten hub
  • Sangdong Mine to sustain AKTC’s global tungsten supply
Banking & Finance

Banks' lending rates dip in July amid monetary easing cycle

Banks' loan rates declined in July amid the central bank's monetary easing cycle, though rates on home-backed loans went up for the second consecutive month amid tighter lending regulations, data showed Wednesday. The average lending rate on new bank loans stood at 4.06 percent last month, down 0.03 percentage point from a month earlier, according to the data from the Bank of Korea (BOK). The rate had risen in June for the first time in five months but reversed course last month. In detail, the average interest rate on corporate loans declined by 0.02 percentage point to 4.04 percent in July. The rate for new household loans edged down by 0.01 percentage point to 4.2 percent, marking the eighth consecutive monthly decrease. But the interest rate for home-backed mortgage loans gained 0.03 percentage point to 3.96 percent in July, marking the second consecutive monthly increase. The on-month gain came as the government introduced tighter lending rules, including a 600 million-won ($429,830) cap on mortgage loans in Seoul and its surrounding area, in an effort to curb rising household debt an

Aug 27, 2025By Yonhap
Banks' lending rates dip in July amid monetary easing cycle
Companies

Advanced electrification to take center stage at IAA 2025

Global automakers are ready to present their latest achievements in electrification by showcasing the newest electric models and promoting updated mobility strategies at the world’s most influential auto fair in Germany. The biennial IAA Mobility 2025 is set to start its six-day run on Sept. 9 in the German capital of Munich. Participants will focus on hyping their technological developments in electric vehicles (EVs) during the exhibition. IAA is gaining increasing strategic importance as boundaries between the auto and tech sectors blur, with carmakers and global IT firms seeking partnerships with each other at the exhibit, just like the annual CES tech fair. Reflecting on the trend, Hyundai Motor has decided to take part in the upcoming event after a four-year hiatus. The carmaker will unveil a concept model for its new compact electric SUV, tentatively named the IONIQ 2, on the sidelines of the upcoming IAA. This will mark the second time the Korean carmaker has joined the fair since first appearing in 2021. Hyundai’s decision to unveil the vehicle in Europe is aimed at absorbing

Aug 27, 2025By Lee Min-hyung
Advanced electrification to take center stage at IAA 2025
Companies

Financial watchdog looking into MBK Partners over Homeplus takeover

The country's financial watchdog sent staff to MBK Partners Ltd.'s office Wednesday, to investigate any irregularities in the process of the private equity fund's acquisition of now-troubled retailer Homeplus Co. MBK Partners acquired a 100 percent stake in Homeplus in 2015 from British retailer Tesco Plc for 7.2 trillion won ($5.2 billion). The on-site probe by the Financial Supervisory Service (FSS) came as the watchdog is expanding its investigation into details of MBK Partner's takeover of Homeplus, including the fundraising scheme. The move came after the FSS referred MBK Partners to the prosecution for a further probe into Homeplus' debt sale fiasco. The FSS has accused Homeplus of selling short-term debts while being aware of an imminent rating downgrade, while also arguing that the equity fund had prepared for a court rehabilitation scheme for a long period of time without self-recovery efforts amid the retailer's weakening financial status. Homeplus entered court-led rehabilitation proceedings in March. MBK Partners earlier said its chair, Kim Byung-ju, will use his personal asset

Aug 27, 2025By Yonhap
Financial watchdog looking into MBK Partners over Homeplus takeover
Companies

Hanwha to invest $5 bil. in Philadelphia shipyard to build naval vessels in US

Hanwha Group announced Wednesday it will invest $5 billion in its shipyard in Philadelphia as part of the so-called "Make American Shipbuilding Great Again" (MASGA) project, which was agreed upon last month during the Korea-U.S. tariff talks as part of efforts to rebuild the U.S. shipbuilding industry. The size of the planned investment is 50 times larger than the $100 million it spent to acquire the shipyard last year. It also exceeds the $70 million the White House claimed earlier this month was the size of Hanwha's investment to expand the Philadelphia shipyard. Hanwha unveiled the investment plan as President Lee Jae Myung visited Hanwha Philly Shipyard on Tuesday (local time), a day after his first summit with U.S. President Donald Trump at the White House. Lee attended a ceremony to christen the U.S. Maritime Administration's third national security multi-mission vessel as the State of Maine. The training vessel is the first ship built at the shipyard since the Korean conglomerate's acquisition. “Today's christening ceremony is the embodiment of our two nations working side by si

Aug 27, 2025By Park Jae-hyuk
Hanwha to invest $5 bil. in Philadelphia shipyard to build naval vessels in US
Business

Biz sentiment hits 9-month high in August following US tariff deal: BOK survey

Business sentiment in South Korea rose to a nine-month high this month amid reduced uncertainty following a high-stakes tariff agreement with the United States, a central bank survey showed Wednesday. The Composite Business Sentiment Index (CBSI) for all industries stood at 91.0 in August, up 1.4 points from the previous month, according to data from the Bank of Korea (BOK). The August figure marked the highest level since November 2024, when the index came to 91.8. It was also the first increase in three months. The index measures corporate outlooks on overall business conditions, with a reading below 100 indicating that pessimists outnumber optimists. The CBSI among manufacturers went up 1.4 points from the previous month to 93.3 in August, while the index among non-manufacturers advanced 0.7 point to 89.4. The outlook for all industries for September also climbed 3.4 points to 91.8, the survey showed. "Tariff-related uncertainty has been eased following the conclusion of negotiations with the U.S., and exports, particularly in semiconductors and automobiles, showed strong performance,"

Aug 27, 2025By Yonhap
Biz sentiment hits 9-month high in August following US tariff deal: BOK survey
Banking & Finance

NongHyup Bank enhances partnership on stablecoin-based K-pop copyright investment

NH NongHyup Bank is strengthening a three-way partnership with pioneering companies in blockchain-based payment systems and music copyright investment using blockchain technology. The bank signed a third memorandum of understanding (MOU), Monday, with fintech security firm Aton and music copyright investment platform Musicow, it said Tuesday. This agreement builds on their initial MOU from December 2021, focusing on developing an integrated business model that enables investors to purchase copyrights for k-pop and other Korean cultural content. The model facilitates ownership through the integration of stablecoins and security token offerings (STO). Stablecoin is a cryptocurrency designed to maintain a stable value by pegging it to fiat currencies. They are issued and exchanged on blockchain networks, which securely and transparently record all digital asset transactions. STO is a blockchain-based digital token that allows companies to raise capital by investing and owning rights in real-world assets, offering regulatory compliance and enhanced investor protection. The project centers on a

Aug 27, 2025By Yi Whan-woo
NongHyup Bank enhances partnership on stablecoin-based K-pop copyright investment
Tech & Science

Experts address Korea’s potential as AI powerhouse at AMCHAM-Korea Times forum

Experts and top tech business leaders shed new light on Korea’s strengths and potential as a global powerhouse in the era of artificial intelligence (AI) during the AI Forum 2025 co-hosted by The Korea Times and the American Chamber of Commerce in Korea (AMCHAM Korea) Tuesday. During the event, speakers stressed that the global AI industry is already evolving and reshaping itself, and that Korea has the strong potential and foundation to join the global top three in AI. “The world is undergoing a historic transformation triggered by AI, with generative AIs, such as ChatGPT, going beyond a mere technological innovation to reshape the way we live fundamentally,” President Lee Jae Myung said in his congratulatory remarks for the forum read by Lee Kyu-youn, senior presidential secretary for public relations. “Korea now faces a test of whether it will remain a follower once again or take a half step ahead to seize limitless opportunities as a leader … The government will create new opportunities through sizable investments and support for AI, semiconductors and other advanced indus

Aug 26, 2025By Nam Hyun-woo
Experts address Korea’s potential as AI powerhouse at AMCHAM-Korea Times forum
Tech & Science

'No longer optional': AI transformation essential across sectors

Experts from global companies said Tuesday that artificial intelligence (AI) adoption is no longer optional, but essential across sectors from manufacturing to finance. The Korea Times and the American Chamber of Commerce in Korea co-hosted the AI Forum 2025 in Seoul, bringing together figures from industry, academia and government to discuss Korea’s role in the AI and digital innovation economy. The first session focused on the industrial perspective of the global AI race, inviting PTC Chief Revenue Officer Robert Dahdah, Hyundai Motor Securities researcher Roh Geun-chang, Visa International Korea Country Manager Patrick Storey and Microsoft Korea Enterprise Commercial Lead Kim Hoon-sang as speakers. Tech startup CODIT CEO Chung Ji-eun moderated the session. Discussing cooperation between Korea and the United States, which has become even more crucial following dramatic tariff negotiations and the Korea-U.S. summit, the panelists urged private sectors to jump into AI adoption to broaden their opportunities in the global market. “In the industrial software digital thread world, there

Aug 26, 2025By Lee Gyu-lee
'No longer optional': AI transformation essential across sectors
Business

Law to protect workers sends investors running to robots

The contentious passage of the "yellow envelope law" has triggered an unintended consequence by boosting expectations that robots will replace human labor at an even faster pace, industry officials said Tuesday. The pro-labor revisions to the Trade Union and Labor Relations Adjustment Act that passed the National Assembly on Sunday aim to broaden protections for subcontracted and indirectly employed workers and strengthen their right to collective action. While labor groups hailed the passage as a major victory, business circles warn that the law could undermine the competitiveness of industries reliant on complex supply chains and subcontracting, potentially inviting costly legal battles. Investor sentiment appears to lean toward the concerns raised by business leaders. Many see automation as a more dependable alternative to expanding the workforce without legal risks, a shift that has driven up robotics stocks sharply this week. According to the Korea Exchange, shares of Robotis, a robotics firm that produces a self-driving robot, surged to 103,300 won ($74), rising 2.58 percent Tuesda

Aug 26, 2025By Lee Yeon-woo
Law to protect workers sends investors running to robots
previous page
372373374375376
next page

Most Read in Business