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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

SK Group focuses on rebuilding trust after data breach

Top executives of SK Group held a meeting on the conglomerates’ management strategy and emphasized the importance of rebuilding the trust of customers and other stakeholders, in a response to a recent massive user data breach at its telecom unit, SK Telecom. According to the group, on Sunday Chairman Chey Tae-won, Senior Vice Chairman Chey Jae-won and more than 20 CEOs of key units attended the meeting on Friday and Saturday at SK Management System Institute in Icheon, Gyeonggi Province. The meeting explored the group’s strategies for the second half of this year, coordinating the business goals of each unit. During the meeting, SK Group executives discussed the crisis stemming from both external and internal challenges, including growing global uncertainties and the recent data breach at SK Telecom. They agreed that the group must return to “the very basics of management through thorough self-scrutiny” and focus on delivering greater value to customers and society as part of efforts to restore public trust. SK Telecom is currently banned from enrolling new customers, following t

Jun 15, 2025By Nam Hyun-woo
SK Group focuses on rebuilding trust after data breach
Tech & Science

PHOTO Enjoying Van Gogh's works with Galaxy S25+

A model listens to an audio guide of Van Gogh's artwork through Samsung Galaxy S25+ smartphone at Van Gogh Museum in Amsterdam in this handout photo released Sunday. Samsung Electronics said it signed a three-year partnership with the museum to allow visitors to enjoy audio guides of Van Gogh’s works with enhanced visuals and sound using the flagship smartphone. Courtesy of Samsung Electronics

Jun 15, 2025By Nam Hyun-woophoto
[PHOTO] Enjoying Van Gogh's works with Galaxy S25+
Companies

InterviewHow Korean startup became a financial lifeline for India's middle class

India is a massive financial market, yet few foreign startups have managed to break into it as successfully as Balance Hero, led by CEO Lee Cheol-won. Strict regulations and the difficulty of building consumer trust have posed significant barriers to entry. Lee zeroed in on a sweet spot: India’s massive middle class. Depending on the definition, they account for as much as half of India’s 1.4 billion population, but are often overlooked by traditional finance due to a lack of credit history. Founded in 2014, Balance Hero operates a nationwide-used microloan app in India called True Balance. It offers short-term loans ranging from 1,000 to 100,000 rupees ($1,170) to India’s middle-class population earning between 300,000 won and 1.2 million won ($876.3) per month. Using an AI-based alternative credit scoring (ACS) system, the technology enables fast, contactless credit assessments, typically completed in under a minute. By the end of last year, the platform had issued a cumulative total of 1.64 trillion won in microloans. Lee said he chose India in just seconds. "The market was virtu

Jun 15, 2025By Lee Yeon-woo
How Korean startup became a financial lifeline for India's middle class
Banking & Finance

Banks rush to attract ‘young and rich’ with tailor-made services

Commercial banks are rushing to introduce tailor-made services for “young and rich” customers, a marketing term referring to those who are in their 40s or younger and have more than 1 billion won ($730,500) in financial assets. These customers accumulated wealth at a relatively young age, with some gaining fortune through successful business ventures, while others did so with high investment returns or inherited wealth. Lenders are seeking to woo them by identifying their lifestyle, hobbies and interests, as their numbers have grown in recent years. A KB Financial Group study showed the number of these customers reached 461,000 in 2024, a more than 30 percent increase from 2020. A separate study from Hana Bank showed that wealthy people in their 30s and 40s have been accumulating wealth twice as fast as older wealthy clients over the past five years. Under these circumstances, Woori Bank is offering a range of benefits for young, high-net-worth clients related to hotels, shopping and cultural experiences. For instance, targeted customers can receive a 5 percent discount on room packag

Jun 14, 2025By Yi Whan-woo
Banks rush to attract ‘young and rich’ with tailor-made services
Companies

Korea’s auto industry exposed to bigger threat from Chinese, US carmakers

Korea’s auto market faces mounting pressure from both U.S. and Chinese carmakers, while its own vehicle exports to the world’s two largest economies continue to falter. If the trend persists, it could undermine the competitiveness of the local economy and domestic carmakers amid ongoing global trade uncertainties and rising protectionism. The concerns are backed by multiple data. According to the Korea Automobile Importers and Distributors Association (KAIDA), sales of U.S. vehicles in Korea jumped 40.1 percent in May from a year earlier, driven by the strong popularity of Tesla’s electric vehicles (EVs). On the other hand, Korean carmakers struggled in the U.S. market, with their auto exports to the United States dropping by more than 30 percent during the same period, hit hard by the impact of the recently imposed 25 percent U.S. auto tariff. According to the Ministry of Trade, Industry and Energy, Korea’s auto exports to the U.S. came in at $1.84 billion (2.5 trillion won) in May, down 32 percent from a year earlier. The figure extended a losing streak from April when it repor

Jun 14, 2025By Lee Min-hyung
Korea’s auto industry exposed to bigger threat from Chinese, US carmakers
Companies

Kangwon Land goes all out against illegal online gambling sites

Kangwon Land, the nation’s only casino legally open to Korean nationals, is stepping up measures against illegal online gambling websites that falsely impersonate the casino’s name and logo. The move comes after the casino operator detected a fraudulent gambling website May 28, that had illegally used the company’s name and logo to mislead users by displaying the casino’s official logo while redirecting them to their illegal gambling platforms. According to Kangwon Land, the casino operator immediately reported the case, requesting the shutdown of the site with the Korea Communications Standards Commission (KCSC). “Kangwon Land does not operate any online casino services. It only operates the casino at the designated location in Gangwon Province,” a Kangwon Land official said in a press release. “We will remain committed to help monitor and crack down on such illegal gambling websites by working closely with relevant authorities.” The casino operator said it has launched a nationwide awareness campaign while using multiple channels, including its website, Instagram, blog a

Jun 13, 2025By Jhoo Dong-chan
Kangwon Land goes all out against illegal online gambling sites
Companies

Samsung, LG on alert as US plans additional 50% steel tariff on appliance imports

Samsung Electronics and LG Electronics are scrambling to assess the impact of Washington's decision to add home appliances to a list of derivatives subject to a 50 percent steel tariff, according to industry sources Friday. The U.S. commerce department has published a notice on the Federal Register, noting that the tariff will be assessed on various home appliance imports, including refrigerators and washing machines, based on the value of the steel content in each of them. The measure will take effect on June 23. Although both Samsung and LG operate manufacturing plants in the United States, local production is limited primarily to washing machines. A significant portion of other key products is still manufactured in countries such as Korea, Mexico and Vietnam, making the companies vulnerable to the tariff increase. Korean home appliance makers rely heavily on their Mexican plants to export products to the U.S., with shipments from Mexico valued at approximately $2.4 billion. As a result, the total trade volume potentially affected by the latest measure is estimated at around $3.84 bil

Jun 13, 2025By Yonhap
Samsung, LG on alert as US plans additional 50% steel tariff on appliance imports
Tech & Science

Renault Korea’s Scenic EV set to deepen rivalry against IONIQ, ID.4

Renault Korea is ready to intensify its electric vehicle (EV) rivalry against Hyundai Motor and Volkswagen Korea by launching its long-awaited Scenic E-Tech compact SUV here in August. The electric crossover will make its debut as compact EVs gain growing popularity from local customers. Renault Korea expects the upcoming launch of the Scenic EV to help rev up its domestic sales growth. For now, the French carmaker relies heavily on sales of its flagship Grand Koleos SUV. The vehicle accounts for more than 80 percent of its total auto sales here. The Scenic E-Tech is widely considered a well-rounded EV in terms of its driving range and strong safety features. The vehicle can travel up to 443 kilometers on a single charge. The vehicle is also equipped with the carmaker’s much-hyped Fireman Access technology which enables firefighters to drench burning battery cells quickly in case of fire. Rival models for the vehicle include Hyundai Motor’s IONIQ flagship EV and Volkswagen Korea’s ID.4 electric SUV. Though Renault Korea has yet to set the price for the upcoming EV, the vehicle may p

Jun 13, 2025By Lee Min-hyung
Renault Korea’s Scenic EV set to deepen rivalry against IONIQ, ID.4
Companies

Competition heats up for Trump's shipyard visit during APEC summit

The shipbuilding rivalry between HD Hyundai and Hanwha has spilled over into a competition to invite U.S. President Donald Trump to their shipyards during his likely visit to Korea for the APEC summit in late October in Gyeongju, North Gyeongsang Province. Rep. Kim Tae-seon of the ruling Democratic Party of Korea recently urged the government to proactively organize visits to Korean companies for leaders of APEC member states. Kim represents Ulsan’s Dong District, home to the shipyard of HD Hyundai Heavy Industries (HHI). “Those visits are necessary to show our technologies and vision to world leaders,” the lawmaker said during a National Assembly meeting Tuesday. Citing a proposed U.S. Congress bill aimed at allowing overseas shipyards to build naval vessels for the U.S. Navy, Kim emphasized that the construction of U.S. naval ships in Ulsan could soon become a reality. “Against this backdrop, their visits to HD HHI, the world’s largest shipyard, will provide an opportunity for Korea to strengthen diplomatic and economic partnerships with their nations,” he added. In a YouTub

Jun 13, 2025By Park Jae-hyuk
Competition heats up for Trump's shipyard visit during APEC summit
Companies

Korean Air to operate mileage-exclusive flights on Jeju route from July-September

Korean Air Lines said Friday it will operate special mileage-exclusive flights on its domestic route connecting Seoul and the country's southern resort island of Jeju from July to September. The airline will run the Gimpo-Jeju flights on Fridays, Saturdays and Sundays over three consecutive weeks each month in response to increasing demand for domestic travel during the summer vacation season. The special flights will be available for mileage use only. A total of 54 flights will be operated between July 4 and Sept. 21. An Airbus A330-300 aircraft, which includes prestige-class seating and accommodates 284 passengers, will be deployed on these flights. Industry observers see the move as an attempt to encourage mileage consumption amid Korean Air's ongoing integration of its mileage system with that of Asiana Airlines Inc. as part of an ongoing merger of the two flag carriers. On Thursday, Korea's Fair Trade Commission rejected a proposed mileage integration plan submitted by Korean Air and Asiana Airlines, citing insufficient details and consumer benefit concerns. As of the end of March, Ko

Jun 13, 2025By Yonhap
Korean Air to operate mileage-exclusive flights on Jeju route from July-September
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