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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
  • Companies

    Korea expresses regret over US House committee’s 'lopsided' Coupang report

    2 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
  • Companies

    POSCO resets portfolio, expands into energy, lithium

    2 MIN READBy Ko Dong-hwan
    POSCO resets portfolio, expands into energy, lithium
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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 rise to 10-month high on tech rally

Korean stocks finished markedly higher to hit a 10-month high Thursday, driven by gains in tech shares, following strong earnings from U.S. chip giant Nvidia Corp. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 50.49 points, or 1.89 percent, to close at 2,720.64. It marked the highest level since Aug. 2, when the index finished at 2,725.02. Trade volume was moderate at 444.45 million shares worth 10.79 trillion won ($7.8 billion), with winners beating losers 749 to 151. Institutions and foreign investors bought a net 684.56 billion won and 290.27 billion won worth of stocks, respectively. Individuals sold 996.99 billion won worth of shares. The KOSPI got a boost from Nvidia's earnings results. It reported a 69 percent on-year increase in revenue, reaching US$44.1 billion for the February-April period, analysts said. "With the vast majority of U.S. President Donald Trump's global tariffs blocked by the U.S. trade court, institutional and foreign buying pushed up the benchmark index," Lee Jae-won, an analyst at Shinhan Securities Co.

May 29, 2025By Yonhap
Seoul shares rise to 10-month high on tech rally
Companies

KEPCO in talks with Vietnam, Saudi Arabia, Turkey for potential power plant deals

The state-run Korea Electric Power Corp. (KEPCO) has been in talks with Vietnam, Saudi Arabia, Turkey and other countries over potential nuclear power plant deals, the company said Thursday. KEPCO said a number of countries, including the three, are interested in South Korea's experience and capabilities proven by successfully constructing the Barakah nuclear power plant in the United Arab Emirates (UAE), vowing to work to win more export deals. South Korea won a 20 trillion-won ($14.5 billion) contract to build the Barakah plant in 2009, which marked the country's first-ever overseas nuclear power plant project. KEPCO completed the project last year, delivering four nuclear reactors to the UAE, which all entered commercial operation. Seoul also secured an estimated 26 trillion won project to build two nuclear power units at the Dukovany nuclear power plant in the Czech Republic last month, though the formal signing of the deal has been delayed due to the Czech court's injunction order temporarily halting the deal. "The UAE power plant construction project strengthened the overall sustain

May 29, 2025By Yonhap
KEPCO in talks with Vietnam, Saudi Arabia, Turkey for potential power plant deals
Banking & Finance

Kim & Chang lawyer to join IMM Private Equity

Lim Shin-kwon, a lawyer at major law firm Kim & Chang known for his expertise in merger and acquisition (M&A) advisory, is set to join IMM Private Equity (IMM PE), sources in the investment banking industry said Wednesday. Lim recently tendered his resignation at Kim & Chang and is expected to join IMM PE around August or September. Lim will take on the role of chief legal officer at the private equity firm, where he will oversee key responsibilities such as conducting legal reviews of investment deals, handling legal disputes and developing compliance frameworks. A graduate of Seoul National University, he passed the national bar exam in 1998. Kim & Chang describes Lim as an expert in M&As, corporate restructuring and private equity, offering legal counsel across these areas. "Lim has a wealth of experience advising both domestic and global funds, as well as major corporations, helping them successfully execute key transactions," the law firm’s website states. "He has played a key role in pioneering innovative deal structures that were attempted for the first time in Korea. In addition,

May 28, 2025By Jun Ji-hye
Kim & Chang lawyer to join IMM Private Equity
Companies

GM Korea to sell non-core assets, service centers amid sluggish sales

GM Korea, the South Korean unit of General Motors Co., said Wednesday it will dispose of non-core assets and directly managed service centers as part of its efforts to sustain operations amid weak demand for its vehicles. In response to a rapidly evolving industry landscape and global business challenges, the company said in a press release that it will begin consultations with relevant stakeholders to secure financial sustainability in the Korean market. GM Korea plans to gradually sell all nine of its directly operated after-sales service (AS) centers. However, all employees at these centers will be reassigned to other divisions within the company, it said. "Unlocking value from surplus assets and eliminating loss-making service operations are critical to supporting ongoing sustainability," GM Korea Chief Executive Officer (CEO) Hector Villarreal said. The company also plans to sell idle properties and facilities within its main Bupyeong plant, located just west of Seoul. It emphasized that the planned asset sales will not affect production at the facility. "Our current vehicle programs

May 28, 2025By Yonhap
GM Korea to sell non-core assets, service centers amid sluggish sales
Companies

SK Innovation replaces top management

SK Innovation has appointed SK Innovation E&S President Choo Hyeong-wook as its new CEO and SK Inc. CEO Jang Yong-ho as executive president, who will also represent the company. The intermediate holding company for SK Group's energy and chemical businesses said Wednesday that its board of directors approved the appointments that day. Both Choo and Jang are board members. Choo, who became CEO of SK E&S in 2021, has led the energy firm's growth in four key areas: low-carbon liquefied natural gas, renewable energy, energy solutions and hydrogen. Since SK Innovation's merger with SK E&S last November, he has focused on generating synergies as the head of the newly integrated company's independent in-house entity. Jang is recognized as a strategist who helped SK Group expand its semiconductor and chipmaking materials businesses. In 2015, while leading SK Inc.'s portfolio management, he oversaw the acquisition of SK Materials, a specialty gas supplier for chipmakers, and SK Siltron, a semiconductor wafer producer, and under his tenure has enhanced their corporate value. SK Innovation said Jang w

May 28, 2025By Park Jae-hyuk
SK Innovation replaces top management
Banking & Finance

Regional bank delinquency rates hit 15-year high amid rising defaults of self-employed

The average delinquency rate at regional banks has soared past 1 percent this year, reaching its highest level in 15 years, industry officials said Wednesday. They attribute the increase to a downturn in regional economies, which has left a growing number of self-employed individuals and small businesses struggling to repay their debts. As of the first quarter of 2025, the average delinquency rate across Korea’s five major regional banks — BNK Kyongnam, BNK Busan, Kwangju, Jeonbuk and Jeju — reached 1.14 percent. This marks the highest figure since the third quarter of 2010 and nearly triples the rate recorded at major commercial banks. The rise has been especially steep this year, with the rate climbing 0.33 percentage points in just three months — up from 0.81 percent at the end of 2024. The trend is expected to continue. "Delinquency rates are expected to peak in the second half of the year," Kwon Jae-jung, chief financial officer at BNK Financial Group, said during the bank’s first-quarter earnings call on April 25. Warning signs are flashing across regional economies, as do

May 28, 2025By Lee Yeon-woo
Regional bank delinquency rates hit 15-year high amid rising defaults of self-employed
Tech & Science

LG CNS to boost software development with AI-powered platform

LG CNS will implement an AI coding platform, DevOn AI-Driven Development (DevOn AIDD), across the entire software development process, taking its productivity to the next level. The company announced Wednesday that it will expand the AI-powered coding platform, which previously was only used during the coding process, to support every phase of development, from analysis and design to coding, testing and quality assurance. “With DevOn AIDD, we plan to innovate the productivity of (software) development for our clients and offer them a differentiated customer experience,” the company said. During the analysis process, the platform can translate vast and complex source code into comprehensible human language and automatically summarize it, saving enormous time for developers to analyze the system’s architecture. With the platform, developers can create or modify systems by adding or adjusting sentences or phrases in the human language. For instance, a developer can update additional verification features in a system by simply writing “Add voice authentication feature for user verifi

May 28, 2025By Lee Gyu-lee
LG CNS to boost software development with AI-powered platform
Companies

BMW Korea strengthens EV leadership for future mobility

BMW Korea continues to cement its leadership in electric vehicles (EVs), maintaining a top spot in sales for premium imported EVs here for the first four months combined, the carmaker said Tuesday. The local subsidiary of the German automaker sold a total of 1,880 EVs during the same period, the highest among luxury EV makers, extending its winning streak of last year when it reported robust EV sales of 6,353. This proves BMW’s unwavering determination for electrification in the period of a major auto paradigm shift. The carmaker preserved its core driving identity for its EVs while at the same time introducing new technologies to differentiate its premium electric identity. Commemorating its 30th anniversary last month, it started the nation’s first EV test drive membership program — BMW BEV Membership. Under the initiative, the carmaker will use 230 BMW EVs designed to let customers experience the brand’s slogan of “Driving Pleasure.” Starting in May, customers who purchase a new BMW vehicle can participate in the program. The carmaker offers test drives for its four major E

May 28, 2025By Lee Min-hyung
BMW Korea strengthens EV leadership for future mobility
Companies

Huawei taps universities to train talent outside traditional classrooms

SHENZHEN, DONGGUAN, China — Chinese information and communications technology (ICT) giant Huawei is tapping universities in China to train talent and increase workforce to meet rising industry demand. Under a government initiative to boost education to support the industry, school-industry cooperation has been on the rise in China. The partnership is effectively shaping young ICT talents, diversifying and strengthening the national workforce for the industry behind artificial intelligence (AI), cloud computing and big data. As a result, Chinese ICT capabilities are ratcheting up on a global scale, introducing top-of-the-line electronics, vehicles and ICT infrastructure equipment to help people in the country connect online. Shenzhen Polytech University is one of the schools in China where Huawei’s technology is motivating both teachers and students. Instructors with updated expertise teach students in an environment that understands the importance of the company’s technological assets and strives to keep the cooperation going. The vocational school’s partnership with Huawei began

May 28, 2025By Ko Dong-hwan
Huawei taps universities to train talent outside traditional classrooms
Companies

Samsung project helps young adults achieve independence

Samsung Group is expanding its corporate social responsibility (CSR) initiative aimed at supporting the financial independence of young adults exiting child welfare facilities or foster care, with the total number of beneficiaries reaching 38,000. According to Samsung Group, the number of recipients of the Samsung Hope Stepping Stone independence support program stood at 37,840 as of the end of last year, with 15 centers nationwide providing housing and educational support. Samsung Hope Stepping Stone was launched in 2013, inspired by ideas from Samsung Electronics employees who proposed a CSR program designed to support young adults transitioning out of child welfare facilities or foster care after turning 18. With 25 billion won in donations contributed by employees, the program opened its first support center in Busan in 2016. It quickly expanded its reach, with Samsung Electronics contributing an additional 25 billion won in 2019. Initially, the program focused on providing housing stability and emotional support for young adults leaving care. Under this goal, it has opened 15 center

May 28, 2025By Nam Hyun-woo
Samsung project helps young adults achieve independence
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