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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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Companies

ChatGPT sees sharp drop in Korean users in May

OpenAI’s ChatGPT is losing steam in Korea, with its user numbers reporting a sharp decline in May, data showed Thursday. According to data from market tracker IGAWorks, ChatGPT reported 10.17 million monthly active users (MAUs) last month, a drop of more than 500,000 from a month earlier. This is the second time that the figure has declined in Korea since February 2024. Given the consistently strong use of the artificial intelligence (AI) chatbot service, the latest decline suggests that it has entered a phase of growth slowdown in the Korean market. The service showed a solid growth pattern for the past few months. The MAU for ChatGPT topped five million for the first time in March, and the figure doubled the following month to more than 10 million. This boom was due to the viral popularity of an image-generation feature in OpenAI’s ChatGPT-4o. The service transforms ordinary user photos into the distinctive artistic style of Studio Ghibli animations. However, the latest fall in its MAU shows the boom came to an end. In May, the number of new downloads for ChatGPT displayed a sharp d

Jun 5, 2025By Lee Min-hyung
ChatGPT sees sharp drop in Korean users in May
Banking & Finance

KOSPI surpasses 2,800 for first time in 10 months

Electronic signboards at Hana Bank in Seoul show the benchmark KOSPI closed at 2,812.05, Thursday, up 1.49 percent from the previous trading day. The secondary Kosdaq also rose 0.8 percent to close at 756.23. The rally, fueled by both foreign and institutional investors, extended from Wednesday amid expectations of the launch of the new administration. Yonhap

Jun 5, 2025By Lee Yeon-woophoto
KOSPI surpasses 2,800 for first time in 10 months
Companies

Doosan’s big comeback: What’s behind the stock boom?

In 2020, creditor banks — including the Korea Development Bank and the Export-Import Bank of Korea — called on Doosan to implement sweeping self-rescue measures, including the sale of key affiliates. The company agreed, embarking on a major restructuring and divested assets worth approximately 3 trillion won ($2.2 billion) over a two-year period. Now, Doosan, one of Korea's oldest conglomerates with a 128-year history, is staging a strong comeback in the stock market. Doosan Enerbility, Korea's leading power plant builder, has emerged as the primary driver of the group’s rally this year. Its share price has jumped 160.5 percent, rising from 17,550 won at the end of December to 45,700 won as of Thursday. The stock also spiked 7.62 percent on news that the company signed a final contract for a 26 trillion-won nuclear power plant project in the Czech Republic. During intraday trading, it even reached a 52-week high of 45,800 won. The rally is being fueled by a global policy shift toward nuclear energy. In the U.S., President Donald Trump signed an executive order to revive the domestic

Jun 5, 2025By Lee Yeon-woo
Doosan’s big comeback: What’s behind the stock boom?
Tech & Science

CEOs of Naver, Netflix meet in search of future opportunities

CEOs of Korean internet service firm Naver and global streaming giant Netflix met in the U.S. in search of opportunities for expansion and cooperation, the former said Thursday. Naver CEO Choi Soo-yeon and Netflix Co-CEO Greg Peters met at Netflix’s office in Los Angeles on Tuesday and Wednesday. Executives from both companies reviewed the progress of their ongoing membership partnership in Korea and discussed potential areas for further collaboration. Choi shared Naver’s experience of forming membership ecosystems with various partner companies in and outside of Korea, while Netflix executives also expressed their opinion on the future of the membership-based service industry. Naver and Netflix announced their partnership in September last year, and Naver has been offering Netflix’s ad-supported standard plan as part of its Naver Plus membership at no additional cost since November. Naver said the partnership led to a 1.5 times increase in new sign-ups for Naver Plus, which is a paid subscription service that allows various benefits. The partnership also helped Netflix, with monthl

Jun 5, 2025By Nam Hyun-woo
CEOs of Naver, Netflix meet in search of future opportunities
Banking & Finance

Global forum underscores urgency for insurance innovation amid climate, cyber threats

INCHEON — About 900 professionals from 150 insurance organizations, representing 23 countries, gathered at the Korea International Insurance Conference (KIIC) on Wednesday and Thursday at Incheon's Inspire Entertainment Resort. The conference allowed participants to explore the evolving risk landscape facing the insurance industry and to exchange forward-looking strategies aimed at fostering agile and effective responses to emerging challenges. Marking its second year, this year's KIIC was held under the theme "Evolving Risks, Agile Action," highlighting the growing urgency for insurers to adapt rapidly and innovatively in the face of new and complex challenges. Lee Mun-hwa, CEO of Samsung Fire & Marine Insurance (SFMI) — the lead sponsor of the event — opened the main session on Thursday with remarks addressing the growing complexity of global risks such as climate change and cybersecurity threats. "The world is entering an era marked by increasing unpredictability, where climate-related disasters are intensifying and the rapid evolution of digital technologies is giving rise to

Jun 5, 2025By Jun Ji-hye
Global forum underscores urgency for insurance innovation amid climate, cyber threats
Tech & Science

Hyundai Motor to supply hydrogen-powered waste collection trucks to Busan

Hyundai Motor said Thursday it will supply hydrogen-powered waste collection vehicles to Busan metropolitan city, under the municipality's aim to convert its waste collection fleet system to clean energy. At an event held at Busan City Hall, Hyundai unveiled two hydrogen-powered waste collection truck models based on the company's Xcient fuel cell heavy-duty truck platform to be supplied to the local government. The initiative aims to replace aging diesel-powered waste vehicles for South Korea's second-largest city, some 320 kilometers southeast of Seoul, with hydrogen fuel cell trucks. The city plans to deploy a total of 65 hydrogen-powered waste collection vehicles by 2028. This year, Hyundai will deliver five units to four local districts, with plans to expand the supply to other districts in the city starting next year. Busan officials noted that the introduction of quieter and vibration-free hydrogen trucks is expected to significantly improve working conditions for waste collection workers. "We will ensure timely production and delivery of the hydrogen waste trucks to support Busan'

Jun 5, 2025By Yonhap
Hyundai Motor to supply hydrogen-powered waste collection trucks to Busan
Companies

Trump's steel tariffs to affect US production for Samsung, LG

With the U.S. tariff hike on steel and aluminum to 50 percent now in effect, Samsung Electronics and LG Electronics are facing increased supply chain complexities in their U.S. home appliance manufacturing operations. U.S. President Donald Trump signed an order doubling tariffs on steel and aluminum imports Tuesday. The levy came into effect the following day, affecting most products using metal as a component. Since steelmaking generally has low operating profit margins, a sharp increase in tariffs is likely to lead to higher product prices. The tariffs come as a concern for not only steelmakers here but also home appliance makers including the two Korean companies, as steel and aluminum are major component of their washers, dryers and other appliances. In the wake of Trump’s latest tariff, the two companies have been exploring ways to increase their U.S. production by relocating parts of their manufacturing lines around the world. Since 2018, Samsung Electronics has been assembling home appliances at its plant in Newberry, South Carolina, capable of manufacturing 1 million washing mac

Jun 5, 2025By Nam Hyun-woo
Trump's steel tariffs to affect US production for Samsung, LG
Companies

When will new president meet business leaders?

The absence of businesspeople at President Lee Jae-myung's inauguration ceremony on Wednesday has raised questions about when he will meet the heads of Korea's largest conglomerates. His predecessor, impeached former President Yoon Suk Yeol, met the chiefs of Samsung, SK, Hyundai Motor and LG on the first day of his term in 2022, inviting them to both the inauguration and a follow-up banquet. During former President Park Geun-hye's inauguration in 2013, then-chairmen of Hyundai Motor, LG, POSCO and Hanjin attended the event along with the heads of major business lobby groups, while Samsung and SK sent high-level executives on behalf of their chairmen. In contrast, former President Moon Jae-in's inauguration in 2017 did not include any businesspeople, as he assumed office immediately without a transition period following Park's impeachment. That event, attended by only 500 people, had been the smallest presidential inauguration in Korea — until Lee's, which had about 300 attendees. Industry officials expect business leaders to participate in what the presidential office calls the "appo

Jun 5, 2025By Park Jae-hyuk
When will new president meet business leaders?
Banking & Finance

Seoul shares up over 2% late Thursday morning on chip, heavy machinery gains

Korean stocks soared over 2 percent late Thursday morning as chips, heavy machinery and other blue chip gains elevated the market despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 57.2 points, or 2.06 percent, to 2,828.04 as of 11:20 a.m. Overnight, U.S. stocks finished mixed as the Institute for Supply Management (ISM) reported that the Services Purchasing Managers' Index (PMI) for May fell to 49.9, dropping below the 50-point threshold for the first time since June of last year. The Dow Jones Industrial Average fell 0.22 percent, while the Nasdaq composite and the S&P 500 added 0.01 percent and 0.32 percent, respectively. The KOSPI continued to advance after Wednesday's 2.66 percent surge following the inauguration of President Lee Jae-myung, who won the election held after former conservative President Yoon Suk Yeol was ousted over his failed martial law attempt in December. Most large-cap stocks advanced. Market bellwether Samsung Electronics jumped 3.46 percent, and chip rival SK hynix surged 5.4 percent. Top defense systems manufact

Jun 5, 2025By Yonhap
Seoul shares up over 2% late Thursday morning on chip, heavy machinery gains
Banking & Finance

Global insurance experts converge at KIIC to shape industry's future

The Korea International Insurance Conference (KIIC) — now in its second year — has returned as a collaborative platform for global and domestic insurance leaders to address the evolving risks facing the industry and explore innovative, sustainable strategies for the future. Co-organized by key industry institutions and supported by Samsung Fire & Marine Insurance (SFMI) as lead sponsor, KIIC reflects Korea's growing ambition to position itself as a global hub for insurance dialogue. The event is a joint effort involving Korea's major insurance associations, research institutes and private sector leaders, working together to strengthen the industry's global footprint. Held under the theme "Evolving Risks, Agile Action," this year's KIIC runs for two days at the Inspire Entertainment Resort in Incheon, offering a forward-looking agenda focused on rethinking the insurance sector's role amid rising complexity and uncertainty driven by climate change and digital transformation. Thursday's main session begins at 10 a.m. with opening remarks from Lee Mun-hwa, CEO of SFMI, who will highligh

Jun 5, 2025By Jun Ji-hye
Global insurance experts converge at KIIC to shape industry's future
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