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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

Korea widening regulatory pressure on Baemin, Coupang Eats

Korea’s major food delivery service operators — including Baemin and Coupang Eats — face increasing regulatory pressure amid President Lee Jae-myung’s special order to increase investigative manpower for the nation’s antitrust watchdog. Lee has displayed concern over the excessive level of commissions charged by platforms on their partner stores' sales activities. He expressed the need to “drastically reform” the commission systems of delivery app operators when he was a presidential candidate, saying the burden of the commission threatens the livelihood of the self-employed. The Fair Trade Commission (FTC) is the authority for the regulatory drive. The watchdog has already underscored the importance of building a fair market environment by regulating influential platforms as part of its major policy initiatives for 2025. Likely to fall within the FTC’s scope are Baemin and Coupang Eats, the two leading food delivery apps in Korea, with 21.69 million and 10.89 million monthly active users, respectively, as of April, according to data from market tracker Wiseapp Retail Go

Jun 10, 2025By Lee Min-hyung
Korea widening regulatory pressure on Baemin, Coupang Eats
Companies

Coupang’s R.LUX joins hands with FARFETCH to expand selection of global luxury brands

Coupang’s luxury beauty and fashion vertical service R.LUX has formed a partnership with shopping app FARFETCH to present a selection of luxury goods for Korean customers, the company said, Monday. Through the collaboration, R.LUX customers in Korea will be able to receive a variety of luxury and premium brand products with free delivery via Rocket Jikgu, Coupang’s signature international shipping service that delivers items with no additional charges, as customs duties and taxes are included in the price. FARFETCH is a global luxury e-commerce platform acquired by Coupang’s parent company, Coupang Inc., for $500 million in December 2023. R.LUX was launched in October last year as a service specialized in luxury beauty products. Through the collaboration, R.LUX has become a comprehensive luxury shopping platform, offering not only globally renowned luxury brands but also popular Korean designer labels. Products from over 1,400 luxury brands, including Dolce & Gabbana and Ferragamo, will be available on R.LUX, while Korean designer brands such as ADER ERROR, LOW CLASSIC, WE11DONE an

Jun 9, 2025By Nam Hyun-woo
Coupang’s R.LUX joins hands with FARFETCH to expand selection of global luxury brands
Companies

KEF chairman calls for flexible, cooperative labor market at ILO conference

Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik emphasized the urgent need for more flexible labor policies and stronger cooperation among social partners at the 113th session of the International Labour Organization (ILO) Conference in Geneva, Switzerland, on Monday. Speaking as the representative of Korean employers, the chairman pointed to the multifaceted global challenges that businesses and workers are currently facing, saying that labor, management and governments are "obliged" to cooperate to address them. “We are now facing unprecedented and complex challenges,” the chairman said in his speech. “Growing global economic uncertainties and geopolitical tensions pose serious threats to sustainable growth and social integration.” He pointed out that accelerating technological innovation and climate change continue to reshape industries and labor markets worldwide, leading to alarming unemployment rates globally. “Technologies such as AI (artificial intelligence), robotics and automation are profoundly reshaping industrial structures and labor markets,” he said

Jun 9, 2025By Lee Gyu-lee
KEF chairman calls for flexible, cooperative labor market at ILO conference
Banking & Finance

KRX opens independently run after-hours trading session for derivatives

The Korea Exchange (KRX) opened an after-hours trading session for derivatives, Monday, in a bid to enhance its global competitiveness and improve convenience for investors. The country’s sole bourse operator said the session runs from 6 p.m. to 6 a.m., after the regular session that runs from 8:45 a.m. to 3:45 p.m. The combined 19-hour trading session is part of the KRX’s broader plan for around-the-clock operations in selling and buying all tradable financial assets, such as stocks, bonds and derivatives. The KRX’s new after-hours trading session marks a departure from the one offered in partnership with Eurex, a leading European derivatives exchange. The derivatives linked the benchmark KOSPI and secondary bourse Kosdaq were traded at Eurex from 6 p.m. to 5 a.m., before the Eurex-based trading service ended last Thursday. “With the new system in place, investors will be able to engage in after-hours trading more easily than before,” the KRX said. It said its independent trading service is more simplified than the Eurex-based one. The KRX underlined its plan to expand its offeri

Jun 9, 2025By Yi Whan-woo
KRX opens independently run after-hours trading session for derivatives
Companies

Lee’s push for tax cuts on local chips, batteries feared to draw US backlash

President Lee Jae-myung’s push to grant more tax incentives for local chip and battery production is feared to draw backlash from the United States, as the drive could be seen as a “foreign trade barrier” that Washington will take issue with. Under the pledge, the Lee administration will provide a drastic tax cut for companies in key strategic industries if they source production here and sell their end products to local customers. This comes as part of Korea’s efforts to protect local firms amid growing global protectionism after U.S. President Donald Trump took office. However, the pledge is feared to face possible complaints from the U.S., which has repeatedly cried foul over such government measures or subsidies aimed at protecting local companies. The U.S. has yet to lodge an official protest over the plan, but the issue could be raised by the United States Trade Representative (USTR) in ongoing trade talks with its Korean counterpart. Both countries held two rounds of bilateral trade talks for the so-called July package deal on tariffs and other pending trade affairs. Korea

Jun 9, 2025By Lee Min-hyung
Lee’s push for tax cuts on local chips, batteries feared to draw US backlash
Companies

Kia unveils details of PV5 purpose-built vehicle, set to accept preorders this week

Kia on Monday unveiled the specifications and pricing for the PV5, the automaker's first-ever electric purpose-built vehicle (PBV), and said it will begin accepting preorders this week. The PV5 is a mid-sized PBV built on Hyundai Motor Group's dedicated electric platform E-GMP.S, and designed to serve both personal and commercial mobility needs, such as commuting, leisure and logistics. Preorders will begin Tuesday. At launch, the PV5 will be available in two main configurations, the passenger and cargo variants. Both will utilize Kia's new Flexible Body System, which features modular components allowing customized seat or cargo layouts to meet user needs. The PV5 passenger model is optimized for comfort and versatility, catering to activities such as camping and picnics, in addition to regular transportation. It is equipped with a 120 kilowatt electric motor and a 71.2 kilowatt-hour battery, allowing a maximum driving range of 358 kilometers on a single charge. The cargo variant, designed for maximum load efficiency, offers a spacious cargo area and low loading height, and is available

Jun 9, 2025By Yonhap
Kia unveils details of PV5 purpose-built vehicle, set to accept preorders this week
Companies

Samsung chairman visits bio units before planned spin-off

Samsung Electronics Chairman Lee Jae-yong on Monday visited the group’s two biotech units — Samsung Biologics and Samsung Bioepis — in what appears to be a move to review their operations ahead of a planned spin-off. According to industry officials Monday, Lee visited Samsung Biologics’ office in Songdo, Incheon, along with Samsung Electronics Vice Chairman Chung Hyun-ho, who leads the company's business support task force and is widely regarded as Lee's right-hand man. Samsung Biologics CEO John Rim also accompanied. Samsung confirmed Lee’s visit but declined to provide further details. He reportedly toured the contract drug manufacturer’s fifth manufacturing plant, which is under construction with plans to secure an annual capacity of 180,000 liters, and met with Samsung Biologics employees. He also visited the office of biosimilar developer Samsung Bioepis later that day. Lee has identified the biopharmaceutical business as one of Samsung’s three key growth drivers, along with semiconductors and artificial intelligence. Under the chairman’s vision, Samsung Biologics ha

Jun 9, 2025By Nam Hyun-woo
Samsung chairman visits bio units before planned spin-off
Companies

US businesspeople in Korea fly to Washington to boost economic ties

The American Chamber of Commerce in Korea (AMCHAM) said Monday its executive delegation will meet key officials of the Donald Trump administration this week, exploring ways to reshape the two countries' economic ties under new leadership in both nations. Through its annual Doorknock program in Washington from Tuesday to Thursday (local time), the AMCHAM delegation plans to call for stronger support for Korean investments in the United States, a reduced U.S. goods trade deficit with Korea and policy reforms that enhance Korea's appeal as home to regional headquarters of global enterprises. It will be the first business delegation to visit the U.S. capital since President Lee Jae-myung's inauguration last Wednesday. AMCHAM emphasized this year's visit comes at a critical moment for the Korea-U.S. partnership, as both countries begin new political chapters and navigate shifting global economic dynamics. "This Doorknock is about reaffirming our shared commitment to a strong and resilient U.S.-Korea economic alliance," AMCHAM Chairman James Kim said. "With Korea's new administration just taki

Jun 9, 2025By Park Jae-hyuk
US businesspeople in Korea fly to Washington to boost economic ties
Tech & Science

Boryung to hold space station art showcase

Health care and space business company Boryung will be holding Korea’s first live-streaming art showcase from the International Space Station (ISS). According to the company, Monday, Boryung will co-host the Humans in Space Youth art showcase on Saturday with the Korea Foundation for Science and Creativity (KOSAC) at Gwacheon National Science Museum in Gyeonggi Province. During the event, astronauts on the spaceflight Axiom Space Mission 4, currently stationed on the ISS, will present 20 space-themed drawings by elementary school students in a live stream. The drawings were selected through the 2025 Humans in Space Youth competition. “Space is not just about science, but a realm of imagination. We hope this event inspires more children to fuel their creativity and curiosity to grow into future leaders of the space era,” Boryung CEO Kim Jung-gyun said. This project marks the country’s first time children’s artwork was sent to the ISS, part of a private-sector-led initiative that merges science, art, and education. It is also the first time in 17 years that an artwork by a Korean

Jun 9, 2025By Lee Gyu-lee
Boryung to hold space station art showcase
Companies

LG reaffirms commitment to Indonesia's EV battery industry

LG Group Chairman Koo Kwang-mo visited Indonesia earlier this month to inspect the electric vehicle (EV) battery production facilities of HLI Green Power, a joint venture established in 2021 by LG Energy Solution (LGES) and Hyundai Motor Group. LG Group said Monday that Koo visited the joint venture in Karawang, West Java Province, where he emphasized the company's commitment to the EV battery business, which has faced concerns due to a global slowdown in demand. Writing "I hope it becomes the heart of future mobility" on a battery cell produced at HLI, the chairman also encouraged employees to pursue a level of competitiveness that surpasses global rivals, according to the group’s holding firm, LG Corp. This is Koo’s first trip to Indonesia since attending a business roundtable in Jakarta in September 2023, and comes about two months after an LGES-led consortium withdrew from the Grand Package project. The $8 billion project is aimed at building a full EV battery value chain in the mineral-rich country, encompassing raw material extraction, processing and battery cell manufacturing.

Jun 9, 2025By Park Jae-hyuk
LG reaffirms commitment to Indonesia's EV battery industry
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