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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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Banking & Finance

Will Kakao be biggest beneficiary of new government’s policies?

Kakao Pay's stock price surged sharply following the launch of the Lee Jae-myung administration, fueled by growing expectations for the introduction of a Korean won-based stablecoin, analysts said Tuesday. Shares of other Kakao-related companies also rallied on optimism around President Lee's policy agenda, particularly the expansion of the artificial intelligence (AI) industry. According to the Korea Exchange, Kakao Pay's stock price closed at 57,400 won ($42), Tuesday, up 15.96 percent from the previous trading day's close of 49,500 won. On Monday, the stock surged 29.92 percent. The sharp rise reflects growing expectations that discussions surrounding the introduction of a won-based stablecoin will accelerate following the appointment of Kim Yong-beom, a former first vice finance minister, as the new presidential chief of staff for policy. Stablecoins — digital assets pegged to real-world currencies such as the U.S. dollar — are designed to minimize price volatility. If a won-based stablecoin is officially introduced, it is expected to expand Korea's payments and settlement ecosys

Jun 10, 2025By Jun Ji-hye
Will Kakao be biggest beneficiary of new government’s policies?
Companies

POSCO E&C showcases vision for landmark Otier Yongsan high-end apartments

POSCO E&C has opened a promotional hall for its “Otier Yongsan” high-end apartments in a bid to secure the construction contract for the central commercial area of Seoul, the company said Tuesday. The POSCO affiliate said the project will become a global landmark in Seoul’s Yongsan district. The promotional space immerses visitors from the moment they enter, with a signature scent and music designed specifically for the Otier Yongsan experience, according to the POSCO affiliate. One of the main features of the luxury apartments is the exterior design, created in collaboration with renowned Dutch architect Ben van Berkel of UNStudio, who also serves as Seoul’s chief urban architect. Otier Yongsan blends natural aesthetics with modern urban elements, the company said. Twin sky bridges designed to enhance scenic views are also showcased at the promotional hall. Visitors can also experience the apartments' future river views through artificial intelligence (AI)-powered simulations. Inside the promotional hall, they can also view mock-ups of residential interiors and luxurious finishing

Jun 10, 2025By Lee Min-hyung
POSCO E&C showcases vision for landmark Otier Yongsan high-end apartments
Banking & Finance

Mirae Asset seeks further expansion into high tech-oriented China market

Mirae Asset Securities is increasingly eyeing China’s listed high-tech companies as securities firms seek to diversify their U.S.-centric investment portfolios and realize higher returns in the world's second-largest economy, according to company officials, Tuesday. The China-focused strategy comes as the country has drawn less attention than the United States from Korean stock investors despite its growth potential in the era of accelerated digital transformation. For instance, Korea Securities Depository data showed that U.S. stocks make up more than 90 percent of the outstanding account balance of Koreans who invest in overseas stocks. Under such circumstances, Mirae Asset Securities recently sent some of its private bankers to China on a field trip to Hangzhou, Guangzhou, Shenzhen and other manufacturing hubs. The companies they visited included e-commerce giant Alibaba and electric car makers BYD and XPENG. RoboSense and UBTECH, both AI-based robotics companies, and cloud software manufacturer Kingdee Software were also on the list of their destinations. A company PR official said t

Jun 10, 2025By Yi Whan-woo
Mirae Asset seeks further expansion into high tech-oriented China market
Tech & Science

Naver completes digital twin of 3 Saudi cities

Internet service giant Naver has completed its digital twin platform for three Saudi Arabian cities, laying the groundwork for Riyadh’s effort to establish smart city infrastructure for the region. Naver said Tuesday it has completed the digital twin platform for Makkah, Madinah and Jeddah, as the first phase of its project to establish virtual copies for five Saudi Arabian cities. Digital twin is a technology mirroring real-world entities in a virtual environment. Naver’s digital twin platform provides high-resolution 3D images of the cities as well as real-time data on their infrastructure, serving as a tool for urban planners and engineers. Saudi Arabia is seeking to set up the digital twin platform as part of its effort to build a future city using innovative technologies and position itself as a leading country in the smart city sector. The project is led by Saudi-based Balady and NHC Innovation, with Naver providing technological support. Balady is Saudi Arabia’s mapping service provider and NHC Innovation is a subsidiary of Saudi Arabia’s National Housing Company. The total

Jun 10, 2025By Nam Hyun-woo
Naver completes digital twin of 3 Saudi cities
Companies

Hanwha's investment in Australian shipbuilder gains momentum

Hanwha Group’s investment in global defense shipbuilder Austal is picking up momentum following the U.S. government's approval of the Korean conglomerate's plan to increase its stake in the company to 100 percent. According to Hanwha on Tuesday, the Committee on Foreign Investment in the United States (CFIUS) Friday approved the group’s request to acquire a 19.9 percent stake in Austal, and additionally cleared it to pursue full ownership, stating that there are “no unresolved national security concerns.” Austal is an Australia-headquartered shipbuilder and defense contractor which also operates shipyards in Mobile, Ala., and San Diego. It is one of the primary suppliers of the U.S. Navy’s littoral combat ships and expeditionary fast transports. In the U.S. naval vessel market, its share ranges from 40 to 60 percent, with an order backlog of 14.2 billion Australian dollars ($9.25 billion). In March, Hanwha acquired a 9.9 percent stake in Austal and requested regulatory approvals to CFIUS and Australia’s Foreign Investment Review Board (FIRB) to increase its stake to 19.9 per

Jun 10, 2025By Nam Hyun-woo
Hanwha's investment in Australian shipbuilder gains momentum
Companies

Hyundai Rotem close to signing $6 bil. K2 export deal with Poland

Hyundai Rotem is expected to sign a major export contract with Poland for K2 battle tanks, a deal worth $6 billion (8.16 trillion won), by the end of June, industry sources said Tuesday. The Korean defense manufacturer plans to deliver 180 K2 tanks under the second export deal with Poland. According to industry officials, the signing ceremony is expected to take place in the European nation later this month. The deal was supposed to be completed at the end of 2024, but it was delayed due to Poland’s internal political circumstances. The contract would represent the largest single defense export in Korea’s history. In 2022, Hyundai Rotem exported the same number of K2 tanks to Poland. At that time, the deal was valued at 4.5 trillion won. However, the second contract features upgraded functions for the combat tanks and a provision for technology transfer, maintenance, repair and operation (MRO) support by Hyundai Rotem. Under the latest deal, Hyundai Rotem will also supply armored recovery vehicles and bridge-layer tanks to Poland. “The long-delayed K2 export contract has come close t

Jun 10, 2025By Lee Min-hyung
Hyundai Rotem close to signing $6 bil. K2 export deal with Poland
Banking & Finance

Private equity industry voices concern over bill to halve leverage limit

The private equity (PE) industry expressed concerns over a bill proposed by a Democratic Party of Korea (DPK) lawmaker to halve the current borrowing limit for PE firms, according to industry officials, Tuesday. They argue that applying uniform regulations to all firms constitutes excessive interference and could undermine market stability. The bill sparked further backlash from the industry, as legislative efforts led by the DPK are expected to gain momentum following the launch of the new administration. President Lee Jae-myung's DPK currently holds 167 seats, securing a majority in the 300-member National Assembly. When including seats held by minor parties and independent lawmakers aligned with the ruling party, the pro-government camp is estimated to control a total of 186 seats. DPK lawmaker Rep. Kim Hyun-jung recently introduced an amendment to the Capital Markets Act that would reduce the borrowing cap for PE firms from the current 400 percent of net asset value to 200 percent. The bill, however, includes an exception for firms that obtain an evaluation of their debt repayment cap

Jun 10, 2025By Jun Ji-hye
Private equity industry voices concern over bill to halve leverage limit
Companies

Hanwha Systems, BAE Systems sign MOU for next-generation recon satellite

Hanwha Systems, a leading Korean defense and aerospace technology company, announced Tuesday that it signed a memorandum of understanding (MOU) with BAE Systems, a premier British defense and security firm, to jointly develop an advanced multi-sensor satellite system. The collaboration aims to integrate BAE Systems’ ultra-wideband radio frequency (RF) sensor technology with Hanwha Systems’ state-of-the-art small synthetic aperture radar (SAR) satellite capabilities. Together, the two companies will explore the development of a sophisticated space-based intelligence, surveillance and reconnaissance (ISR) solution to boost their competitiveness in the global satellite market. The next-generation system will combine data from both RF and SAR satellites, leveraging machine learning to deliver accurate, timely and high-resolution intelligence. By fusing data from different sensor types, the system is expected to significantly enhance situational awareness and provide a powerful tool for space-based surveillance. “Bringing together our pedigree in space with Hanwha Systems’ expertise

Jun 10, 2025By Nam Hyun-woo
Hanwha Systems, BAE Systems sign MOU for next-generation recon satellite
Business

Antitrust watchdog conditionally approves Tving-Wavve merger

Korea's antitrust regulator said Tuesday it has conditionally approved the merger of streaming platforms, Tving and Wavve, requiring the two local companies to maintain their current subscription prices until the end of next year. The Fair Trade Commission (FTC) said the two homegrown over-the-top (OTT) service providers must retain their existing pricing plans through Dec. 31, 2026. If the merged entity launches a new integrated service, it must either continue offering the current pricing plans or introduce similar-tier plans at comparable price levels until the same deadline, the regulator added. Concerns had been raised over potential anti-competitive effects following the merger announcement, with some critics warning that the integration of the two services could reduce market competition and lead to de-facto price hikes. The FTC noted that eliminating separate subscription options and offering only a bundled plan could result in increased costs for consumers. It also pointed out that Tving and Wavve currently hold exclusive content, such as live broadcast channels and professional

Jun 10, 2025By Yonhap
Antitrust watchdog conditionally approves Tving-Wavve merger
Companies

POSCO Future M to produce China-free precursors in Gwangyang

GWANGYANG, South Jeolla Province — POSCO Future M, the steelmaking group's battery materials unit, celebrated the completion of a precursor plant in Gwangyang, South Jeolla Province, Tuesday. Built on a 22,400-square-meter site adjacent to the company's cathode materials facility, the new plant can produce 45,000 tons of precursors annually. The capacity is enough to power batteries for about 500,000 electric vehicles (EVs). Precursors are processed materials in the final stage before being combined with lithium to form cathode active materials. According to POSCO Future M, all precursors produced at the new plant will be used to manufacture cathode materials for Ultium Cells, a U.S. battery joint venture between LG Energy Solution and General Motors. "With POSCO Group's nickel supply chain and the recent completion of the precursor plant, we can now independently source raw materials and produce semi-processed goods and cathode materials," POSCO Future M CEO Eom Gi-chen said. "Amid changing global supply chain policies, the Gwangyang precursor plant will contribute to the competitiven

Jun 10, 2025By Park Jae-hyuk
POSCO Future M to produce China-free precursors in Gwangyang
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