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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

Korean biz leaders head to US for Lee-Trump summit

Top executives from Korea's major conglomerates left for the United States on Sunday to join the economic delegation for President Lee Jae Myung's upcoming summit with U.S. President Donald Trump. Around noon, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and Hanwha Group Vice Chairman Kim Dong-kwan left for the U.S. as part of the presidential economic delegation. Asked about his role, Chey said briefly, "I will do my best." Other business leaders in the delegation include Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, CJ Group Chairman Lee Jae-hyun, Korean Air Chairman Cho Won-tae and HD Hyundai Executive Vice Chairman Chung Ki-sun. The summit — set for Monday (local time) in Washington — follows a recent trade deal that lowered U.S. reciprocal tariffs on Korean goods from 25 percent to 15 percent in exchange for Korea's pledge of $350 billion in investment and $100 billion in U.S. energy purchases. Of the pledged investment, $150 billion will go toward Seoul's shipbuilding cooperation initiative, dubbed "Make American S

Aug 24, 2025By Yonhap
Korean biz leaders head to US for Lee-Trump summit
Companies

Lotte courts job seekers in Vietnam

Lotte Group held its first global job fair in Vietnam on Friday (local time), courting prospective employees in Korea’s third-largest trading partner and a key market for the conglomerate. According to the group, Sunday, its retail and urban development affiliates visited Hanoi for Lotte Global Job Fair at L7 West Lake Hanoi by Lotte. Lotte Department Store, Lotte Mart, Hotel Lotte, Lotte World, Lotte Property & Development and Lotte Innovate joined the fair. The fair is the first leg in the group's global job fair campaign, as Lotte seeks to hire 500 global recruits this year. The event in Hanoi welcomed visitors with booths introducing Lotte, its businesses in Vietnam and the career opportunities it offers. Three pavilions — Life with Lotte, Career with Lotte and Fun with Lotte — comprised the themes for Lotte's presentation. The companies’ human resource officials at the fair offered consultations and conducted mock interviews. Bui Phuong Anh, one of the Vietnamese participants who applied for a position in Lotte Department Store’s marketing division, said the company’s bu

Aug 24, 2025By Ko Dong-hwan
Lotte courts job seekers in Vietnam
Business

Korea eyes nuclear energy partnership to offset trade risks at Trump summit

Korea’s capability to build nuclear power plants has emerged as a key bargaining chip to offset trade risks with the United States, amid speculation that President Lee Jae Myung will likely float a nuclear energy partnership for the two countries at his summit with U.S. President Donald Trump in Washington on Monday. The anticipation comes after Korea last month successfully persuaded the Trump administration to reduce its “reciprocal” tariffs on Korean imports from proposed 25 percent to 15 percent by promising Seoul's cooperation and investments to help revive the U.S. shipbuilding industry. Korea Hydro & Nuclear Power CEO Whang Joo-ho on Saturday left for Washington to meet officials from the U.S. nuclear power industry on the occasion of the Lee-Trump summit. Nuclear power plant fuel and small modular reactors (SMR) technologies will be key discussion topics for Whang and his American counterparts in relay meetings, according to Korea Hydro & Nuclear Power (KHNP). Along with Whang, Korea Electric Power Corp. (KEPCO) CEO Kim Dong-cheol headed to Washington to assist in talks wi

Aug 24, 2025By Ko Dong-hwan
Korea eyes nuclear energy partnership to offset trade risks at Trump summit
Companies

Hyundai, Kia's cumulative eco-friendly car sales top 1.5 mil. in US

Hyundai Motor and its affiliate Kia said Sunday their cumulative sales of eco-friendly vehicles in the United States surpassed 1.5 million units last month. Combined sales of their environment-friendly models reached 1,515,145 units as of July, 14 years after the automakers rolled out such vehicles in the world's largest automobile market, company data showed. Amid a slowdown in electric vehicle (EV) demand, Hyundai and Kia have increased their focus on gasoline hybrid and premium models in the U.S. while continuing to maintain their EV lineups. Best-selling models include Hyundai's Tucson hybrid SUV, Sonata hybrid sedan and all-electric Ioniq 5, along with Kia's Sportage and Sorento hybrid SUVs. Hyundai plans to add a hybrid version of its flagship Palisade SUV for U.S. customers, while Kia is preparing to launch the EV4 compact electric sedan. In July alone, the two carmakers sold a combined 157,353 vehicles in the U.S., up 13 percent from a year earlier, the data showed.

Aug 24, 2025By Yonhap
Hyundai, Kia's cumulative eco-friendly car sales top 1.5 mil. in US
Companies

GM Korea urges Seoul to reconsider before passage of pro-labor bill

Hector Villarreal, chief executive officer (CEO) of GM Korea, has asked the government to reconsider a controversial pro-labor "yellow envelope bill" ahead of its passage in parliament, industry sources said Sunday. Villarreal made the request Thursday during a meeting between labor ministry officials and executives from the automobile, shipbuilding and steel industries, according to the sources. Expressing serious concerns over the bill, Villarreal reportedly said Korea already carries high risks in corporate-labor relations and warned that parent company General Motors may reassess its Korean operations if the legislation is adopted. While stopping short of directly mentioning a withdrawal, he hinted that GM Korea would no longer serve as a core production base in Asia for global markets under the new law, the sources said. Speculation about a possible GM exit has been growing amid sluggish sales, a lack of new models, and a 25 percent U.S. tariff on imported vehicles imposed in April. The tariff was cut to 15 percent in late July after last-minute negotiations in exchange for Korea's $

Aug 24, 2025By Yonhap
GM Korea urges Seoul to reconsider before passage of pro-labor bill
Tech & Science

Samsung-Johns Hopkins project wins 2025 R&D 100 Awards

A joint research project between Samsung Electronics and Johns Hopkins University on next-generation refrigeration technology has won the 2025 R&D 100 Awards, one of the world’s most renowned awards for innovative engineering technologies. Samsung Electronics said Sunday the research, conducted by Samsung Research and Johns Hopkins University Applied Physics Laboratory (APL), was selected as one of the 100 Top Innovations in the 2025 R&D 100 Awards organized by R&D World Magazine. Established in 1963, the R&D 100 Awards honor the 100 most innovative technologies each year that contribute to advancements in science and technology. The team won the honor with its research on “Scalable, Energy Efficient CHESS Thin‑Film Thermoelectric Refrigerator.” CHESS thin films are nano-engineered materials developed by Johns Hopkins APL that leverage the Peltier effect to deliver an eco-friendly, nonchemical cooling method without refrigerants, enabling faster and more precise temperature control. The award committee cited the achievement as the world’s first development of a high-performance

Aug 24, 2025By Nam Hyun-woo
Samsung-Johns Hopkins project wins 2025 R&D 100 Awards
Banking & Finance

Toss to waive remittance fees for foreigners this year

Toss, operated by Viva Republica, will waive international remittance fees for foreign customers in Korea through December, the mobile platform operator said Friday. The waiver will be applied to four countries including the U.S., China, Uzbekistan and Vietnam. The move is intended to enhance foreign customers' experiences with Toss’s convenient and secure financial services. Last month, Toss launched an international remittance service for foreign customers in partnership with SentBe, a global remittance platform specializing in global money transfers that is widely used in Korea. Friday’s decision is a continued expansion of the “Free Transfers for Life,” a key customer campaign launched in 2021 to permanently waive money transfer fees for domestic transactions. Toss said its users saved a combined 2 trillion won ($1.43 billion) in domestic transfer fees under the program. About 1.5 million long-term foreign residents in Korea will be able to send money to their home counties without additional charges. Those residents constitute 64 percent of the total 2.19 million long-term resi

Aug 23, 2025By Lee Kyung-min
Toss to waive remittance fees for foreigners this year
Companies

Korea’s imported car market undergoes major transition to eco-friendly vehicles

The nation’s imported car market is entering a major transition toward the mass adoption of eco-friendly vehicles, driven by rapid sales growth from brands such as Tesla and Lexus, which have established strong identities in electric vehicles (EVs) and hybrid cars, respectively, according to data and industry officials on Friday. The trend is evidenced by the two carmakers’ sharp sales growth in Korea. According to data from the Korea Automobile Importers & Distributors Association (KAIDA), Tesla's sales soared 32.4 percent year-on-year to 26,569 between January and July. While Tesla ranked third in total auto sales during the same period, behind BMW Korea and Mercedes-Benz Korea, its rise poses a serious challenge to the German carmakers, as the U.S. EV maker led the market in electric vehicle sales. In July, Tesla rose to fame as the nation’s top-selling foreign carmaker, buoyed by strong demand for its Model Y electric SUV. Tesla sold 7,357 cars last month alone, up 12.2 percent from a year earlier, outpacing BMW Korea, which sold 6,490 vehicles during the same period. Industry

Aug 23, 2025By Lee Min-hyung
Korea’s imported car market undergoes major transition to eco-friendly vehicles
Banking & Finance

InterviewOpportunity for all: Lucentblock reshapes real estate investment with financial innovation

Lucentblock, established in 2018 and based in Daejeon, is the first fintech company outside the Seoul metropolitan area to be recognized by the Financial Services Commission as an innovative financial service provider. Under its vision statement of “Until anyone can access any asset,” the firm operates SOU, a platform for fractional real estate investment that lists properties on an exchange and issues profit securities, opening a new path for inclusive real estate participation. Fractional investment involves dividing high-value assets or rights, such as buildings or artworks, into tradable shares, enabling many investors to participate with relatively small amounts. In a recent interview with The Korea Times, CEO and co-founder Huh Se-young, also known as Phillip Huh, said that SOU is transforming the conventional asset market while fostering an ecosystem where investors, tenants and local communities can grow together. Demonstrating its effectiveness, the platform has so far sold out 11 offerings and in July, the company marked its first successful exit by selling a shared office

Aug 23, 2025By Jun Ji-hye
Opportunity for all: Lucentblock reshapes real estate investment with financial innovation
Companies

Outgoing Renault Korea CEO drives carmaker’s revival

Renault Korea’s outgoing CEO Stephane Deblaise will soon embark on a new global challenge in India, after driving a remarkable revival of the carmaker’s once-flagging Korean business. He is set to end his tenure in Korea by the end of August, and start a new position as a top executive for the French carmaker’s Indian subsidiary. Deblaise took office as the CEO of Renault Korea in March 2022, facing the daunting task of rebounding the firm's sales. He stood at the forefront of the "Aurora project," under which the carmaker shared its plan to launch three new strategic vehicles starting in 2024. Last year, Renault Korea surprised the market with the successful launch of the Grand Koleos SUV, the first effort from the project. The hybrid version of the mid-size SUV, in particular, has fueled a strong sales rebound since its debut in September. According to data from the carmaker, Renault Korea’s auto sales surged to 32,065 between January and July to 32,065, a 152.8 percent increase from a year earlier, with the strategic SUV accounting for more than 80 percent of the total. The eng

Aug 22, 2025By Lee Min-hyung
Outgoing Renault Korea CEO drives carmaker’s revival
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