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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

    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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Companies

AliExpress bets on K-fashion, influencers to woo global shoppers

Chinese e-commerce giant AliExpress is targeting Korean fashion enthusiasts as it begins recruiting social media influencers to serve as fitting models and promoters for its fashion items, the company said Monday. According to the company, Celeb Shop is a new type of commerce project in which influencers curate and promote their favorite fashion items selected from the AliExpress wardrobe. All products are sourced directly from vendors in Seoul’s Dongdaemun area, a major hub for business-to-business trade in clothing and production materials. AliExpress said Celeb Shop influencers will orchestrate sales on the platform by planning their own styling and modeling their selected pieces. The company, in collaboration with its Korean vendor partners, will handle fulfillment and delivery of all items ordered through Celeb Shop. The company said Celeb Shop targets consumers from teenagers to those in their 30s, believing their frequent exposure to YouTube, Instagram and other social network platforms has familiarized them with online influencers. The company said it has begun searching for Ko

Jun 16, 2025By Ko Dong-hwan
AliExpress bets on K-fashion, influencers to woo global shoppers
Companies

Hyundai Motor Group faces inevitable US price hikes amid 25% auto tariffs

Hyundai Motor Group may be forced to raise vehicle prices in the United States to offset the impact of Washington’s 25 percent auto tariff, industry officials and analysts said Monday. Top management from Hyundai Motor and Kia — the two major auto brands under the group — have so far denied any imminent vehicle price increases due to tariff repercussions. However, experts and industry officials expect both automakers to gradually raise their auto prices in the world’s largest economy, as their tariff-free inventory is rapidly running out, forcing them to import more cars that are subject to the massive tariff introduced April 2. Hyundai Motor and Kia had three months and two months of inventory for U.S. sales, respectively. This limited stock has raised concerns that both carmakers may be compelled to raise prices after July, as their profitability would rapidly fall due to the tariff-hit auto imports to the country. "The carmakers will constantly review the range of the price rise, but the direction looks inevitable on the tariff burden," said Lee Ho-geun, an automotive engineer

Jun 16, 2025By Lee Min-hyung
Hyundai Motor Group faces inevitable US price hikes amid 25% auto tariffs
Business

Industry ministry launches task force on US tariff talks under new administration

The Korean government launched a new task force Monday to better prepare for the ongoing trade negotiations with the United States on tariff and other related issues, Seoul's industry ministry said. The task force will be headed by new Trade Minister Yeo Han-koo, according to the Ministry of Trade, Industry and Energy. It will be in charge of crafting a package deal, which Seoul hopes will include a significant reduction of U.S. duties on Korean goods. Yeo is the first trade minister of President Lee Jae-myung, who took office earlier this month, replacing ousted former President Yoon Suk Yeol. Seoul's working-level delegation for technical discussions with Washington will be led by Park Jung-sung, deputy minister for international trade and investment. The ministry said it also plans to initiate necessary procedures under the trade treaty law, such as a public hearing, for trade negotiations with the U.S. "We will do our utmost to bring together the public and private sectors, as well as related government ministries, to achieve successful negotiation results with the U.S.," Yeo said, not

Jun 16, 2025By Yonhap
Industry ministry launches task force on US tariff talks under new administration
Tech & Science

Samsung Biologics expands portfolio with organoids

Samsung Biologics said Monday it launched a drug candidate screening service to support clients in drug discovery and development, expanding its portfolio beyond contract development and manufacturing of biologics to include contract research. According to the company, it launched Samsung Organoids, a drug screening service using organoids. By engaging with clients from the early stages of drug candidate discovery, the company aims to have clients locked into its services ranging from contract development to manufacturing and research. Organoids are 3D miniaturized organ models derived from stem cells or tissue cells, thus mimicking the structure, organization and some functions of human organs. They are gaining industry attention as tools for research and drug development as they offer a cost-effective alternative to traditional testing methods while providing up to 85 percent patient similarity. This enables faster and more precise assessment of a drug candidate’s efficacy and toxicity. Samsung Biologics will begin its organoid services by screening anti-cancer drug candidates using

Jun 16, 2025By Nam Hyun-woo
Samsung Biologics expands portfolio with organoids
Companies

Hanwha Systems, Northrop Grumman partner for joint development of air defense systems

Korea's Hanwha Systems has partnered with U.S. defense giant Northrop Grumman to jointly develop multilayered air defense systems, industry sources said Monday. According to the sources, Hanwha Systems has recently signed a memorandum of understanding (MOU) for joint projects in air defense systems with the U.S. firm, which is the developer of the Integrated Air and Missile Defense Battle Command System (IBCS). IBCS is regarded as one of the most advanced air defense command and control platforms in the world. It integrates radar and interceptor systems across land, sea and air to build a dense and flexible air defense network, enabling coordinated responses to a range of threats. The partnership comes as Hanwha Systems continues to strengthen its radar technologies. Last month, the company was selected to develop the multi-function radar (MFR) for the second-phase development of Korea's long-range surface-to-air missile (L-SAM) system. Hanwha has previously developed and supplied MFR systems for missile systems under projects led by the state-run Agency for Defense Development. "The syne

Jun 16, 2025By Yonhap
Hanwha Systems, Northrop Grumman partner for joint development of air defense systems
Companies

Coupang launches ‘Rocket Jikgu Summer Black Friday’

Coupang, Korea’s largest e-commerce platform, kicked off its “Rocket Jikgu Summer Black Friday” event Monday, billing it as the biggest discount promotion of the first half of the year. The weeklong sale runs through Sunday and offers steep discounts on thousands of products from major global brands, as consumers continue to grapple with rising prices on everyday necessities. The promotion features more than 20,000 items from over 800 leading global brands, with discounts of up to 70 percent. Electronics, fashion, health supplements and household items are among the key categories. Global tech brands such as Logitech and Lenovo are participating with deals on wireless mice, gaming keyboards and tablet PCs. Xiaomi is highlighting summer-friendly appliances, including smart dehumidifiers, standing fans and travel suitcases. In the fashion segment, brands like Nike, Adidas, Skechers, Asics and Vans are offering sneakers, athletic wear and sports accessories. Coupang is also spotlighting products from Japanese snack maker Calbee, U.S. supplement brand Healthy Origins and toy giant LEGO

Jun 16, 2025By Ko Dong-hwan
Coupang launches ‘Rocket Jikgu Summer Black Friday’
Companies

Adidas names new Korea chief

Adidas has named Markus Morent, an Austrian national, as the new managing director for its Korean market, effective June 9. This marks the company’s first regional leadership appointment since Korea was elevated to a key standalone market, separate from Asia Pacific, in January 2024. The announcement was made by the multinational sportswear manufacturer on Monday. According to the company, the appointment is a strategic step to solidify its continued growth in Korea. It also described the appointment as a “significant milestone that reflects the brand’s ongoing commitment to and high expectations for the Korean market.” Prior to this appointment, Morent served as managing director of Adidas Colombia. Before that, he led Adidas’ retail and e-commerce operations in Korea from 2014 to 2019. His career with Adidas began in 2005, when he joined the company’s retail finance division, supporting markets across Europe, the Middle East and Africa. Morent succeeds Peter Kwak, who stepped down due to family reasons. According to Adidas Korea, Kwak — appointed in 2021 — “played a p

Jun 16, 2025By Ko Dong-hwan
Adidas names new Korea chief
Companies

LG to supply EV batteries to China's Chery

LG Energy Solution (LGES) has signed a six-year contract to supply 8 gigawatt-hours of 46-series cylindrical batteries to O&J Automotive Netherlands, a subsidiary of China's Chery Automobile. This is the first time that a Korean company has successfully secured mass sales of cylindrical batteries to a Chinese carmaker. The agreement is seen as a testament to the competitiveness of LGES' products, as Chinese automakers have traditionally preferred domestically made batteries. Chery has mainly partnered with CATL, although it owns its own battery brand, Kunpeng, which is developing all-solid-state battery technology. Notably, Chery selected LGES' ternary batteries, made with nickel, cobalt and manganese, for their higher energy density — opting against the more affordable lithium iron phosphate (LFP) batteries mostly produced by Chinese firms. "Irreplaceable and differentiated customer value, built on unmatched technological prowess, is the only way to overcome the downturn in the electric vehicle (EV) market and seize the upcoming super-cycle," LGES CEO Kim Dong-myung said. "Our recent

Jun 16, 2025By Park Jae-hyuk
LG to supply EV batteries to China's Chery
Companies

Global Editions by Dunhill redefines consumer identity, sensory experience

A rapidly growing trend in Korea, “chugumi,” combines the words for “pursuit” and “beauty” to describe a new consumer mindset. Driven by the desire for self-expression, today’s consumers are seeking products that reflect their values, aesthetics and aspirations — not just functional benefits. Consumption has become a way to communicate personal identity, with taste and design playing pivotal roles in defining who they are. This shift is transforming industries as brands increasingly focus on delivering emotional and sensory value. Products are no longer judged solely on utility; instead, they are expected to offer bold flavors, thoughtful design and compelling storytelling. The result is a marketplace where sensory experiences are essential to connecting with consumers’ lifestyles and dreams. Recognizing this evolution, BAT Rothmans launched Global Editions by Dunhill in May. Inspired by Korean consumers’ search for daily escape and refreshment, the brand is themed around travel and exploration. The lineup features three varieties: the New York Edition, Paris Editio

Jun 16, 2025By Ko Dong-hwan
Global Editions by Dunhill redefines consumer identity, sensory experience
Companies

CJ Logistics courier recognized for saving citizen’s life

CJ Logistics has presented a commendation and reward to its courier Song Jong-hyun for saving a citizen’s life from a suicide attempt, the company announced Sunday. Song, a 43-year-old courier assigned to the Sandong area in Gumi, North Gyeongsang Province, was on his way to work May 19 when he noticed a man in his 30s behaving unusually on Gumi Bridge. Observing the man’s erratic movements, Song kept a watchful eye and, upon seeing him climb onto the bridge railing, immediately called the police. Although police officers arrived and tried to restrain the man, he jumped off the bridge. Song remained at the scene after reporting the incident and provided accurate location and details to assist officers with the rescue. His decisive actions helped the fire department’s rescue team to quickly assess the situation and rescue the man, allowing them to promptly transport him to the hospital for medical attention. “I felt something was wrong when I saw him walking dangerously on the bridge, holding a bottle of alcohol,” said Song, a 15-year veteran courier. “I’m glad that I didn’

Jun 16, 2025By Lee Gyu-lee
CJ Logistics courier recognized for saving citizen’s life
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