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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

S-Oil halts recruiting amid worsening profits

S-Oil has abruptly halted its recruitment process for hiring college graduates who would have been responsible for managing the company’s transactions with local gas stations, citing growing uncertainties in the global economy and a deteriorating business environment. The Saudi Aramco-owned refiner said Wednesday it dropped its plan to hire a double-digit number of retail sales managers. As a result, applicants who passed the resume screening phase are now left to either search for other jobs or wait indefinitely for two rounds of interviews, which were to follow an aptitude test taken on May 4. “As a result of the worsening external business environment caused by protectionist policies of major economies, drastic changes in tariff policies and a shift in the global economic order, our financial performance has weakened,” the company said in an email sent Tuesday to applicants informing them of its decision to suspend the recruitment process. “Given these conditions, we had no choice but to suspend the ongoing hiring process for retail sales managers,” it added. S-Oil posted the

Jun 11, 2025By Park Jae-hyuk
S-Oil halts recruiting amid worsening profits
Companies

Samsung SDI to supply battery to Europe’s top ESS provider

Samsung SDI announced Wednesday that it has signed a deal with Tesvolt, a leading German manufacturer specializing in commercial energy storage systems (ESS), to supply its all-in-one battery solution, the Samsung Battery Box (SBB). The company will deliver SBB to Tesvolt by the end of this month. Tesvolt will then integrate the batteries with its own power conversion systems and advanced cybersecurity features to create and provide its own ESS solution for customers. “We’ve been supplying ESS batteries to Tesvolt since 2017, and this new SBB agreement will take our partnership to the next level. We’re going to ramp up our push into European and other global markets,” a Samsung SDI official said. In addition, the two companies also agreed to explore further supply deals and strengthen their partnership through joint marketing efforts to win forthcoming ESS projects. “The SBB features a unique solution to prevent battery fires, the enhanced direct injection system, and is also highly durable and low noise,” Tesvolt said, indicating possibly more collaborations in the future.

Jun 11, 2025By Lee Gyu-lee
Samsung SDI to supply battery to Europe’s top ESS provider
Companies

BGF Retail launches industry's 1st tattoo kiosk at CU convenience stores

BGF Retail, the operator of CU convenience stores, said Wednesday it has introduced the industry's first-ever "tattoo kiosk" aimed at enhancing the in-store customer experience. The tattoo kiosk allows users to print temporary tattoos onto their skin in just 1-2 seconds using a simple rolling device. Customers can choose from over 100 designs, including Korean cultural motifs like palaces and tigers, the company said in a press release. The tattoos use cosmetic-grade pigment ink that meets South Korean safety regulations and lasts for about two days. The kiosk supports three foreign languages — English, Chinese and Japanese — to woo foreigners, it said. BGF Retail said it plans to transform CU stores into lifestyle hubs, offering interactive and experience-based services beyond conventional retail. Last year, CU launched in-store services that include capsule toy machines and smoothie makers, which have gained popularity among younger customers. "We will continue to introduce services tailored to evolving customer needs, expanding the role of CU convenience stores," the company said. B

Jun 11, 2025By Yonhap
BGF Retail launches industry's 1st tattoo kiosk at CU convenience stores
Companies

Korea fines Chinese e-commerce platform Temu over deceptive promotions

Korea's antitrust watchdog said Wednesday it has fined Temu for misleading Korean consumers through deceptive promotional campaigns, marking the first regulatory sanction imposed on the Chinese e-commerce platform by the agency. The Fair Trade Commission (FTC) said it has imposed a fine of 357 million won ($260,000) on Temu for violating the law governing fair advertising, along with an order for corrective measures. The watchdog said Temu advertised that users could easily receive cash-equivalent reward points by simply tapping a roulette-style game. However, in reality, users were required to fulfill complex conditions, such as inviting multiple friends, in order to receive the rewards. "Consumers typically decide whether to participate in such promotions based on initial advertising messages," an FTC official said. "But in Temu's case, they could only discover the actual requirements after investing a significant amount of time and effort." Separately, the FTC imposed a fine of 1 million won on Temu for violating the commerce act that requires platform operators to display their busin

Jun 11, 2025By Yonhap
Korea fines Chinese e-commerce platform Temu over deceptive promotions
Tech & Science

Scalability to define future of HBM for AI chips

Professor Kim Joung-ho of the Korea Advanced Institute of Science & Technology (KAIST), a leading expert in high-bandwidth memory (HBM) design, presented a road map for the future specifications of AI-specific memory, emphasizing that scalability will define its future. During an online presentation Wednesday, KAIST Terabyte Interconnection and Package Laboratory (TERA lab), led by Kim, unveiled the standard technical specifications of HBM4 to HBM8 that will span from this year to 2040. Currently, HBM3e is the most advanced commercially manufactured HBM chip. Memory chip makers such as Samsung Electronics and SK hynix are now preparing for the mass production of HBM4, highlighted by its wider bandwidth and customizable base dies that run functions demanded by AI chipmakers such as Nvidia and AMD. TERA lab estimated that HBM5 will likely debut in 2029. One of the key advancements expected in HBM5 is 3D near-memory computing, which uses advanced packaging technologies to embed compute or cache dies directly within or on top of the memory stack. To address the chip cooling issue, HBM5 will

Jun 11, 2025By Nam Hyun-woo
Scalability to define future of HBM for AI chips
Tech & Science

Samsung Display showcases OLEDoS innovation at AWE USA 2025

Samsung Display is highlighting its latest OLED on Silicon (OLEDoS) technologies at the Augmented World Expo (AWE USA 2025) in Long Beach, Calif., marking its debut at the world’s largest exhibition focused on extended reality (XR). The event, which kicked off Tuesday (local time), will run until Thursday, bringing together around 200 companies in the spatial computing ecosystem, including Meta, Google, Qualcomm and XREAL. At its booth, Samsung Display is showcasing its flagship 1.4-inch RGB OLEDoS panel, featuring an industry-leading resolution of 5,000 pixels per inch (PPI). Despite being the size of a wristwatch, the panel packs triple the pixels of a 4K TV, enabling highly immersive visual experiences. “Technological innovations driving spatial computing are advancing more dynamically than ever,” said Choi Jae-beom, executive vice president at Samsung Display. “Through our participation at AWE, we aim to showcase the vast potential of OLEDoS and reinforce our position as a key partner in the spatial computing ecosystem.” The company is also exhibiting a 1.3-inch RGB OLEDoS

Jun 11, 2025By Nam Hyun-woo
Samsung Display showcases OLEDoS innovation at AWE USA 2025
Tech & Science

Korea's AI industry poised to leap under new president's goal to join world's top 3

Citing an “unprecedented era of ultra-technological civilization,” President Lee Jae-myung has pledged major investments and support for advanced technology industries in a bid to position Korea as a global leader. During his campaign, he demonstrated a strong commitment to further advancing Korea's AI industry, which he believes will help make the country one of the world’s top three AI powerhouses. True to his promise, just two days into his presidency, his administration announced the creation of a dedicated executive office for AI future strategy within the presidential office, a move signaling his intention to take direct control of shaping AI governance and policy. “The office for AI future strategy will oversee strategies for growth and future-oriented initiatives, while also comprehensively focusing on fostering the AI industry, advancing cutting-edge technologies and addressing challenges related to population and climate crises,” presidential chief of staff Kang Hoon-sik said during a briefing last week. Korea’s stagnation in global AI race According to the Critical

Jun 11, 2025By Lee Gyu-lee
Korea's AI industry poised to leap under new president's goal to join world's top 3
Companies

OpenAI CSO Kwon to visit Korea for AI partnership: sources

Jason Kwon, Chief Strategy Officer (CSO) of OpenAI, will visit Korea on Thursday for the second time in just over two weeks to explore partnerships in the artificial intelligence (AI) sector, industry sources said Wednesday. His upcoming visit comes just a week after the inauguration of President Lee Jae-myung, who has pledged to make Korea one of the world's top three AI powerhouses through a 100 trillion-won ($73 billion) national investment initiative. During his previous visit on May 26, Kwon said OpenAI has established a Korean subsidiary and plans to open its third Asian office — following Tokyo and Singapore — in Seoul in the coming months. The move is part of OpenAI's broader global expansion. The developer of ChatGPT has launched 11 new offices in major cities in recent years, including Paris, Brussels, Singapore, London, Dublin and Tokyo. "OpenAI considers Korea a key partner due to its high level of engagement with our services and sees strong potential for collaboration with Korean companies," an OpenAI official said. Korea ranks among the top 10 countries globally in term

Jun 11, 2025By Yonhap
OpenAI CSO Kwon to visit Korea for AI partnership: sources
Companies

SK hynix CEO says company on track but warns of rising uncertainties in H2

The head of SK hynix said the Korean chipmaker is on track to meet its business targets for the year but warned that uncertainties are likely to grow in the second half due to evolving U.S. trade policies, industry sources said Wednesday. In a meeting with employees Tuesday, SK hynix Chief Executive Officer (CEO) Kwak Noh-jung said it remains difficult to forecast full-year earnings but noted that the company's performance so far has been in line with its annual goals, according to the sources. He urged employees to work together to meet this year's targets, though he did not provide specific details. Kwak cautioned that the global business environment could face heightened volatility in the second half, citing potential U.S. tariffs on individual semiconductor products. In April, U.S. President Donald Trump announced the implementation of long-promised reciprocal tariffs on imports from countries with trade surpluses with the United States, including a 10 percent baseline duty on all imports. Korean products were subject to a 25 percent reciprocal tariff. While certain sectors, including

Jun 11, 2025By Yonhap
SK hynix CEO says company on track but warns of rising uncertainties in H2
Companies

Musinsa to open offline stores in Japan, China amid global push

Musinsa, a Korean fashion platform, said Tuesday it plans to open offline stores in China and Japan in the coming months as part of its global expansion strategy. The company currently offers around 8,000 Korean fashion brands on its online platform and operates several offline stores domestically. Of the 8,000 local brands, some 2,000 also sell products through Musinsa Global, the company's English-language platform targeting 13 strategic Asian markets, excluding China. Domestically, Musinsa operates 25 "Musinsa Standard" outlets that sell its private-label products, as well as three "Musinsa Store" locations featuring partner brands. "We plan to open at least two stores in China, starting with the first in Shanghai in the fourth quarter, and up to three stores in Japanese cities, such as Tokyo, Osaka and Nagoya, early next year," Musinsa Chief Executive Officer (CEO) Park Joon-mo said in a press conference. In addition to its 13 overseas markets, the company is looking to enter China, Europe and the Middle East. It is also exploring partnerships with local companies for logistics and sa

Jun 10, 2025By Yonhap
Musinsa to open offline stores in Japan, China amid global push
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