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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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Banking & Finance

Seoul shares extend winning streak to 7th day; won sharply up

Korean stocks closed higher Thursday, extending their winning streak to a seventh session, driven by big gains in the defense and energy sectors. The local currency was trading sharply higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.99 points, or 0.45 percent, to end at 2,920.03. Foreigners briefly turned to net sellers in the middle of the day to lock in profits but ended up purchasing a net 405.7 billion won ($299 million) worth of local shares. Retail investors and institutions unloaded 175.1 billion won and 239.7 billion won, respectively. Trade volume was heavy at 695.5 million shares worth 17 trillion won, with winners outnumbering losers 518 to 374. "The KOSPI maintained its upward momentum thanks to gains in the defense and nuclear power sectors despite uncertainties that led to the mixed performance of global stock markets," Lee Kyoung-min, an analyst at Daishin Securities, said. Lee said fresh geopolitical tensions helped boost the defense and shipbuilding sectors, while the nuclear power plant shares benefited from expectations for

Jun 12, 2025By Yonhap
Seoul shares extend winning streak to 7th day; won sharply up
Companies

Homeplus plans M&A ahead of rehabilitation as liquidation value exceeds going-concern value

Homeplus' liquidation value exceeds its going-concern value by over 1.2 trillion won ($883 million), according to a financial investigation released Thursday by the court-appointed accounting firm. In response, the major supermarket chain decided to pursue mergers and acquisitions (M&A) ahead of approval of its rehabilitation plan. Homeplus filed for corporate rehabilitation with the Seoul Bankruptcy Court on March 4, citing a credit rating downgrade. Samil PwC, the country's largest accounting firm and the court-appointed investigation committee, conducted the review. Earlier in the day, the firm submitted its report to the court and held a briefing for creditors at Homeplus headquarters to present its findings and outline the next steps. The report cited three main factors leading to Homeplus' rehabilitation filing — rising fixed costs, the impact of the COVID-19 pandemic coupled with a shift to online retail, and liquidity risks stemming from a credit rating downgrade. Homeplus' assets were reported at 6.8 trillion won, with liabilities totaling 2.9 trillion won, indicating a signific

Jun 12, 2025By Jun Ji-hye
Homeplus plans M&A ahead of rehabilitation as liquidation value exceeds going-concern value
Companies

IFEZ pushes new zone in southern Ganghwa

The Incheon Free Economic Zone (IFEZ) Authority is in the final stages of an administrative process to designate the southern part of Ganghwa Island as an additional free economic zone, aiming to expand and strengthen the IFEZ for long-term sustainability. According to the authority Thursday, it will collect public opinions on the proposal through June 23. Meanwhile, the Ministry of Trade, Industry and Energy is set to hold a third preliminary consultation on Monday to gather expert feedback. Following these consultations, the IFEZ Authority plans to revise the proposal and submit an official application to the ministry by the end of the month. If approved, the government is expected to officially designate southern Ganghwa as part of the IFEZ in the second half of this year. Southern Ganghwa is regarded as a strategic location within the airport economic zone due to its proximity to Incheon International Airport and its potential connections with existing IFEZ areas, including Songdo, Yeongjong and Cheongna. The region’s rich cultural heritage and natural attractions along the West S

Jun 12, 2025By Lee Gyu-lee
IFEZ pushes new zone in southern Ganghwa
Companies

Possible inter-Korean thaw sparks surge in reunification-related stocks

Stocks related to inter-Korean economic cooperation surged as signs of easing military tensions between North and South Korea emerged, market analysts said Thursday. According to the Korea Exchange, shares of Ananti closed at 9,870 won ($7.27), a whopping 26.7 percent increase from the previous day. The resort hotel operator previously built a golf course and resort in North Korea's Mount Geumgang. Hyundai Elevator, which holds a stake in Hyundai Asan — the company that owns the rights to the Mount Geumgang tourism project and the development of the Gaeseong Industrial Complex — also closed at 84,300 won, marking a 7.25 percent increase from the previous session. Other related stocks also posted strong gains. Good People, In the F and Ilshin Stone rose by 7.28 percent, 12.67 percent and 5.39 percent, respectively, due to their past operations in the Gaeseong Industrial Complex. The upward momentum was sparked by President Lee Jae-myung’s directive on Wednesday to suspend loudspeaker broadcasts toward the North. In response, North Korea halted its own propaganda broadcasts toward th

Jun 12, 2025By Lee Yeon-woo
Possible inter-Korean thaw sparks surge in reunification-related stocks
Tech & Science

Naver to launch integrated AI agent for smarter search

As the rapid artificial intelligence (AI) transformation reshapes search trends globally, Naver, Korea’s leading internet portal operator, is keeping pace by introducing an AI agent feature within its search engine, integrating its services like shopping, maps and finance. “The idea of searching was simply about finding information at the beginning … But as it meets AI technology, it goes beyond and expands to offer to summarize content, generate information and more. So building on this, we plan to introduce new services,” Kim Sang-bum, executive director of Naver's Search Quality, said during a press conference in Seoul's Gangnam District Thursday. The company rolled out an AI briefing feature earlier this year, leveraging its vertical services, such as Naver Shopping, Naver Place and Naver Pay, to offer curated search results in various formats. Kim Jae-yeop, head of Naver's Search Creative X, noted that by the end of this year, the company will increase AI briefing exposure up to about 20 percent of all searches and extend the feature to include recommendations in areas like

Jun 12, 2025By Lee Gyu-lee
Naver to launch integrated AI agent for smarter search
Banking & Finance

Kbank surpasses 14 mil. customers amid rapid growth

Kbank's total number of users has surpassed 14 million amid continued growth since beginning operations in April 2017, the bank said Thursday. The internet-only bank reported that it attracted about 4.5 million new customers over the past year and a half, up from 9.53 million at the end of 2023. In 2025 alone, more than 1.26 million users joined the bank in the first five months, with an average of over 250,000 new signups per month. This rapid expansion of its customer base has been accompanied by a significant increase in asset size. The bank’s total assets reached 30.39 trillion won ($22 billion) in the first quarter of 2025, marking a 42 percent rise from 21.42 trillion won at the end of 2023. Kbank has seen balanced growth across age groups, with its customer base expanding steadily among both younger and older generations. Since the end of 2023, the share of customers aged 20 and under grew from 22 percent to 24 percent, while those aged 50 and above rose from 22 percent to 28 percent. The proportion of users in their 30s and 40s remained steady at 24 percent each. The firm explai

Jun 12, 2025By Jun Ji-hye
Kbank surpasses 14 mil. customers amid rapid growth
Companies

FTC rejects Korean Air’s mileage integration plan

The nation’s antitrust watchdog rejected Korean Air’s proposed plan to integrate mileage points with Asiana Airlines Thursday, citing concerns that the proposal may harm the interest of Asiana’s customers. Details for the mileage merger plan have not been disclosed, but the Fair Trade Commission (FTC) said the latest proposal by Korean Air needs to be “immediately revised and supplemented.” The agenda was one of the hot potatoes for the high-profile merger of the two carriers. This is because Korean Air’s mileage points are typically valued higher in the market. However, the flag carrier cannot apply the market value, as this will draw backlash from Asiana’s customers. There is also a strong possibility that the antitrust authority flatly denies such a move, citing the need to protect the rights of Asiana customers. The general view is that mileage points from Korean Air and Asiana Airlines will be integrated at a 1-to-1 ratio, following in the footsteps of similar overseas cases. For instance, Delta Air Lines and Northwest Airlines integrated their mileage points with the

Jun 12, 2025By Lee Min-hyung
FTC rejects Korean Air’s mileage integration plan
Companies

China’s Doublestar under increasing pressure to support Kumho Tire

Doublestar, the Chinese tire manufacturer that acquired Kumho Tire in 2018, is facing growing pressure to provide financial support to the Korean tire company, which was severely impacted by a devastating factory fire last month. Kumho Tire is still dealing with the aftermath of the fire that completely burned down one of its two production lines in the southwestern city of Gwangju. The loss is expected to result in a massive earnings drop for the company, and thousands of workers from the company and its partner firms are also at risk of losing their jobs. However, Doublestar, which holds a 45 percent stake in Kumho Tire, has kept a low profile, taking no specific actions to help stabilize the company's operations. In response, union members of Kumho Tire recently traveled to the Chinese city of Qingdao to meet with Doublestar’s management and urge them to take prompt action by supplying funds for the cash-strapped tire company. “Doublestar has not presented any alternative action plans regarding the latest factory fire, apparently because the Chinese firm is walking on eggshells ar

Jun 12, 2025By Lee Min-hyung
China’s Doublestar under increasing pressure to support Kumho Tire
Companies

ExclusiveGlass Lewis backs proposed probe into terminated Hanwha-REC Silicon deal

Glass Lewis, one of the world's most influential proxy advisers, has sided with minority shareholders of REC Silicon, who have locked horns with the Norwegian silicon materials maker's largest shareholder, Hanwha Group. In a report published Tuesday, the proxy adviser recommended that REC Silicon investors vote for a shareholder proposal to initiate an investigation into the termination of its supply agreement with Hanwha Q Cells in January. The termination followed the abrupt shutdown of REC Silicon's Moses Lake plant in the United States late last year, which led the company's stock price to plunge 50 percent on the first trading day of this year — from 3.59 Norwegian krone ($0.36) to 1.79 krone. "We believe the proposed investigation could strengthen the alignment of shareholder interests with those of the company's management through establishing evident compliance with the applicable laws and regulations discussed by the board," Glass Lewis said. According to REC Silicon's regulatory filing posted ahead of its annual general meeting of shareholders scheduled for June 25, four undi

Jun 12, 2025By Park Jae-hyuk
Glass Lewis backs proposed probe into terminated Hanwha-REC Silicon deal
Companies

PHOTO Free dental checkup service

A Haleon Korea official promotes a free dental checkup bus service in Nowon District, Seoul, Wednesday. In celebration of the 10th anniversary of Denture Day, the company partnered with the Korean Academy of Prosthodontics to offer free denture and prosthetic checkups, aiming to raise awareness of proper oral health care. Denture Day, observed on July 1, commemorates the implementation of revised national health insurance coverage for dentures. Courtesy of Haleon Korea

Jun 12, 2025By Nam Hyun-woophoto
[PHOTO] Free dental checkup service
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