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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

Seoul shares soar late Monday morning on tech, auto gains

Korean stocks traded sharply higher late Monday morning as foreign investors purchased blue chip tech and auto shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 48.25 points, or 1.72 percent, to 2,860.3 as of 11:20 a.m., as foreigners net purchased 335.9 billion won ($250 million) worth of local shares. On Friday, Wall Street gained ground thanks to better-than-expected U.S. jobs data, which relieved investors' concerns of an economic slowdown in the world's largest economy. The attention is now on whether the second round of high-level trade negotiations between Washington and Beijing, set to kick off later in the day in London, will reduce uncertainties in the global trade market. In Seoul, market bellwether Samsung Electronics increased 2.2 percent, while its chipmaking rival SK hynix jumped 2.67 percent. Top automaker Hyundai Motor surged 4.22 percent, and its sister Kia advanced 2.36 percent. Hyundai's auto parts-making affiliate, Hyundai Mobis, soared 10.04 percent. IT shares were also bullish, with top internet portal operator Naver climbing 3.97 percent, and Kak

Jun 9, 2025By Yonhap
Seoul shares soar late Monday morning on tech, auto gains
Companies

Samsung Bioepis enters Japanese market through partnership

Korean biosimilar developer Samsung Bioepis said Monday it will make its entry into the Japanese market through a partnership with a Japanese health care company. According to Samsung Bioepis, it has entered into a license, development and commercialization agreement in Japan with NIPRO for Bioepis’ multiple biosimilar candidates, including autoimmune disease biosimilar SB17. This is the first time for Samsung Bioepis to sign a partnership with a Japanese firm to make a foray into the Japanese market. Under the terms of the agreement, Samsung Bioepis will be responsible for the development, manufacture and supply of the medicines, while NIPRO will be responsible for their commercialization in Japan. “This partnership marks an important step towards expanding our footprint in Japan,” Samsung Bioepis CEO Kim Kyung-ah said. “We look forward to collaborating with NIPRO, a company renowned for its high-quality medical devices and health care solutions, to accelerate access to treatments in the Japanese market. We will continue to advance our development platform and innovate access to

Jun 9, 2025By Nam Hyun-woo
Samsung Bioepis enters Japanese market through partnership
Tech & Science

8 in 10 Korean exporters see need for AI adoption, but actual use remains low: poll

A majority of Korean exporters recognize the need to employ artificial intelligence (AI) in their businesses to boost efficiency, but only a small fraction are actively utilizing the technology, a survey showed Monday. According to the survey conducted from Feb. 17-19 by the Korea International Trade Association (KITA), 78 percent of 396 respondents from the export industry said AI adoption is necessary, but only 16.9 percent said they are actively using AI to improve productivity or manage tasks. Another 68.7 percent answered they are either using it on a limited basis or still reviewing its usage. The poll showed that 21.9 percent of the companies that use AI utilize such services in marketing and branding, while 19.7 percent utilize AI in planning and product development. Cost burdens and a shortage of skilled personnel were cited as the top hurdles in AI adoption, at 26.1 percent and 25.4 percent, respectively. KITA noted a lack of refined data and related infrastructure for industrial AI use, and called for a phased approach in fostering the use of AI among exporters. "Public-private

Jun 9, 2025By Yonhap
8 in 10 Korean exporters see need for AI adoption, but actual use remains low: poll
Companies

Jinro soju named world's bestselling spirit for 24 consecutive years

Hitejinro said Monday its flagship soju brand Jinro has been named the world's best-selling spirit for the 24th consecutive year by the British drinks industry publication, Drinks International. In 2024, Hitejinro sold 96.8 million cases (9 liters per case) of soju products worldwide, the company said in a press release. If laid end-to-end, the bottles sold would circle the Earth approximately 13 times, or reach the equivalent height of 57,000 Mount Everests, it said. Despite shifting consumer preferences and a global market slowdown, Jinro's sales volume last year was over twice that of tequila, one of the world's leading distilled spirits categories. "Jinro's unprecedented achievement of being the world's top-selling spirit brand for 24 consecutive years cements our status as a global soju leader," said Hwang Jung-ho, managing director of Hitejinro's overseas business division. "We will continue to strengthen our localization strategies to grow Jinro into a widely accessible brand that fits into the daily lives of consumers worldwide." Hitejinro currently exports soju and other beverage

Jun 9, 2025By Yonhap
Jinro soju named world's bestselling spirit for 24 consecutive years
Companies

Hyundai Motor salesperson achieves milestone with customer-centric mindset

Kang Byung-chul, a sales director for Hyundai Motor’s commercial vehicles, cites his unwavering focus on a customer-centric mindset as the key driving force for his surprising sales milestone. He earned the recognition as the carmaker’s second salesperson to achieve a cumulative total of 3,000 commercial vehicle sales. The figure is noteworthy in that all the sales were from commercial cars, such as large trucks for transportation of equipment. Commercial cars refer to specially-designed vehicles, such as buses, vans and concrete trucks known in Korea as "remicon." Kang joined the automaker in 1997 and achieved robust sales over his 28 years with the company. In 2022, he also received the title of sales master after reaching a milestone of more than 2,500 vehicles sold. Kang said he has not hesitated to travel to meet interested customers. “There is no special secret for my sales,” he said during a telephone interview. “I travel all around the country when customers contact me. I always make it a rule to listen to the voice of customers with sincerity and empathy.” The sales ac

Jun 9, 2025By Lee Min-hyung
Hyundai Motor salesperson achieves milestone with customer-centric mindset
Companies

Korean Air faces internal complaints over Asiana merger

Korean Air faces internal complaints over concerns that employees may have to share welfare benefits with incoming Asiana Airlines staff amid the high-stakes takeover. The flag carrier, which completed its legal procedure for the acquisition of the cash-strapped Asiana last year, plans to launch and operate a converged single Korean Air brand by the end of October 2026. Currently, it runs Asiana as a subsidiary. Korean Air seeks to minimize potential backlash from both sides by undertaking a two-year integration of corporate culture with Asiana Airlines. However, employees from Korean Air still remain skeptical about whether management's plan will proceed as expected amid concerns that they may receive fewer benefits from their current welfare programs due to the acquisition. One of Korean Air's flagship welfare programs is the zonal employee discount (ZED) tickets. The airline offers some 25 ZED tickets annually to its employees at discounts of up to 90 percent. The airline’s employees and their lineal family members are eligible to enjoy the benefit. Given the considerable discount ra

Jun 9, 2025By Lee Min-hyung
Korean Air faces internal complaints over Asiana merger
Banking & Finance

Foreigners increasingly join Korea’s alternative stock exchange

An increasing number of foreign investors have been using Nextrade, Korea’s newly launched alternative trading system (ATS), over the past three months, buoyed by reduced internal and external uncertainties since April, data showed Sunday. The positive development followed an April inflow of offshore investor funds that net purchased large-cap KOSPI shares for the first time in 10 months. Many say more foreign funds will find their way into the long-undervalued equity market this year, especially since many foreign brokerages are seeking to join the platform. Still, challenges remain. Institutional investor enthusiasm remains poor thanks to questions of system stability, including order malfunctions that led to outright service trading halts. A new order mechanism on Nextrade had an error, leading to the government-mandated system halt. Users of Kiwoom, Mirae Asset, Meritz and Toss experienced major inconveniences. According to Nextrade, foreign investors accounted for 8.9 percent of total trading volume during the first week of June. This was a sharp increase from 0.4 percent in March,

Jun 9, 2025By Lee Kyung-min
Foreigners increasingly join Korea’s alternative stock exchange
Companies

AMCHAM delegation to visit US for meetings with Trump administration officials, lawmakers

The American Chamber of Commerce in Korea (AMCHAM) will send a delegation to Washington this week to promote the economic relations between Korea and the United States following the inauguration of President Lee Jae-myung, industry officials said Sunday. As part of AMCHAM's annual "Doorknock" program, the delegation will meet with officials from the Donald Trump administration, members of Congress and policy experts from leading think tanks between Tuesday and Thursday. The visit comes amid political transition in Korea, as Lee assumed office last week after a snap election, which was called following the ouster of former President Yoon Suk Yeol over his martial law declaration. (Yonhap)

Jun 8, 2025By Yonhap
AMCHAM delegation to visit US for meetings with Trump administration officials, lawmakers
Companies

Will new gov't meddle with KT management?

Questions are mounting about the future of KT CEO Kim Young-shub following the election of President Lee Jae-myung, amid a widespread perception that Kim was the choice of impeached former President Yoon Suk Yeol to lead the telecom giant. Industry officials are closely watching whether KT will reappoint its current chief in March next year, a move seen as a litmus test of whether the new administration will end the government's longstanding interference in the management of the company, which was privatized in 2002. Kim, who had worked for LG for nearly four decades, was appointed KT CEO in 2023, with his term set to end in 2026. Before his appointment, the government blocked KT's efforts to reappoint then-incumbent CEO Ku Hyeon-mo and later obstructed the company's move to install Yun Kyung-lim, head of the group transformation division, who was considered a close aide to Ku. At the time, the National Pension Service (NPS), then KT's largest shareholder, cited unfair nomination procedures. Prosecutors also began investigating alleged misconduct and questionable transactions involving a

Jun 8, 2025By Park Jae-hyuk
Will new gov't meddle with KT management?
Tech & Science

Will constitutional reform include renewed perspective on science?

Scientists and engineers are seizing the opportunity presented by President Lee Jae-myung's push for constitutional reform to reshape the nation's longstanding view of science and technology as mere tools for economic growth. Article 127 of the Constitution, last revised in 1987, states that the government "shall strive to develop the national economy by developing science and technology." This perspective has remained unchanged since former President Park Chung-hee's military regime tied science to economic growth through the fifth constitutional amendment in 1962. The Chey Institute for Advanced Studies, a nonprofit established in memory of late SK Group Chairman Chey Jong-hyon, said Sunday that prominent scholars also view Article 127 as outdated. In a report the institute published to offer nonpartisan recommendations for sustainable science and technology policy, the authors warned against limiting the role of science and technology to economic development. "If Korea amends the Constitution, it is worth specifying that science and technology are important in themselves, regardless o

Jun 8, 2025By Park Jae-hyuk
Will constitutional reform include renewed perspective on science?
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