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  • Companies

    Hyundai Motor’s Namyang R&D Center drives software-defined vehicle transformation

    HWASEONG, Gyeonggi Province — Inside a dimly lit studio at Hyundai Motor Group’s Namyang R&D Center, a researcher sits in a carbon-fiber cockpit surrounded by a massive 270-degree curved screen. As he hits the accelerator, the simulated road rushes past, and the entire rig tilts and vibrates, mimicking subtle asphalt textures of a real test track. Building countless physical prototypes for every design iteration is no longer viable. Instead, Hyundai Motor relies on a high-performance driving simulator operating on a six-degrees-of-freedom (6DOF) motion system. The simulator translates linear and rotational movements — including roll and pitch — into an ultra-realistic driving experience. To achieve maximum fidelity, the carmaker scanned its Namyang proving grounds down to the millimeter, capturing specific slopes, speed bumps and surface roughness. To prevent massive rendering files from lagging, the company deployed a world-first "Terrain Server" system that streams topographical data in real time based on the virtual car’s location. The simulator is highly versatile. Researcher

    3 MIN READBy Lee Min-hyung
    Hyundai Motor’s Namyang R&D Center drives software-defined vehicle transformation
  • Companies

    Classiq, QAI sign partnership to launch Korea's 1st quantum cloud service

    1 MIN READBy Jhoo Dong-chan
    Classiq, QAI sign partnership to launch Korea's 1st quantum cloud service
  • Companies

    Samsung, SK hynix to build HBM packaging fabs in Chungcheong region as part of $252.5 bil. in total investment

    2 MIN READBy Yonhap
    Samsung, SK hynix to build HBM packaging fabs in Chungcheong region as part of $252.5 bil. in total investment
  • Companies

    Hanwha Ocean picked as preferred bidder for $5.1 bil. Navy destroyer project

    2 MIN READBy Yonhap
    Hanwha Ocean picked as preferred bidder for $5.1 bil. Navy destroyer project
  • Companies

    6 carmakers to recall over 146,000 vehicles due to faulty parts

    1 MIN READBy Yonhap
    6 carmakers to recall over 146,000 vehicles due to faulty parts
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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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Tech & Science

LG Uplus targets foreigners with multilingual services

LG Uplus is set to expand its foreigner-friendly services by launching stores dedicated to non-Korean-speaking customers across the country. The company announced Thursday that it will provide documents in 17 languages and operate 67 specialized stores in major cities to better serve foreign residents. The 17 languages include English, Chinese, Vietnamese, Russian, Thai, Burmese, Mongolian, Uzbek and Lao — the broadest range of translated options offered by any telecom carrier in Korea. The initiative aims to offer easier and more convenient ways for expats in Korea to sign up for mobile services. “As the number of foreigners residing in Korea continues to increase, we’ve strengthened our services to resolve their inconveniences in using telecom services and to improve their experience,” the company said in a release. “We’ll continue to invest in our customer service infrastructure to better serve all customers.” Offering translations in various languages will address one of the biggest issues for foreign customers. To solve language barriers foreigners experience when signi

May 23, 2025By Lee Gyu-lee
LG Uplus targets foreigners with multilingual services
Banking & Finance

Banks' Q1 net up nearly 29% on base effect

Korean banks' combined net profit jumped nearly 29 percent from a year earlier in the first quarter of the year on a base effect, data showed Friday. The combined net profit of 20 banks came to 6.9 trillion won ($5.01 billion) in the January-March period, up from 5.3 trillion won a year earlier, according to the data from the Financial Supervisory Service (FSS). Their interest income came to 14.8 trillion won in the first quarter, up 100 billion won, or 0.8 percent, from a year earlier. Non-interest income came to 2 trillion won, up 100 billion won, or 6.6 percent, over the cited period, according to the FSS. But the absence of massive costs, such as the estimated 1.8 trillion won spent last year to compensate improper sales of equity-linked securities, helped jack up their bottom line, it added. The banks set aside 1.6 trillion won in loan-loss reserves in the first quarter, up 300 billion won, or 24 percent, from a year before. The banks' return on assets ratio rose to 0.71 percent in the first quarter from the 0.57 percent a year earlier, while their return on equity ratio rose 1.75 per

May 23, 2025By Yonhap
Banks' Q1 net up nearly 29% on base effect
Companies

InterviewWhy BTS Jung Kook's military service was bad news for Qatar tourism

DOHA, Qatar — "I don't want him in the military. I want him to sing and amuse people." That was the lighthearted response from Qatar Tourism Chairman Saad Bin Ali Al-Kharji when asked on Wednesday (local time) by The Korea Times about inviting K-pop artists to the Middle Eastern country to attract more tourists. Recalling an unsuccessful attempt last year to bring BTS main vocalist Jung Kook — who performed "Dreamers" at the opening ceremony of the 2022 FIFA World Cup in Qatar — the chairman stressed that Korean culture is essential to his organization's efforts to position the country as a family-friendly destination hosting major concerts, exhibitions, conferences and festivals every week. "My six-year-old kid even said, 'Dad, I want the Squid Game biscuits,' so I made that at home and tried to eat it without breaking … This is why I think any Korean event will attract people," he said during a joint interview with Asian media on the sidelines of the Qatar Economic Forum. The oil- and gas-rich country has aggressively attracted tourists and foreign investments in recent years a

May 22, 2025By Park Jae-hyuk
Why BTS Jung Kook's military service was bad news for Qatar tourism
Law & Crime

Police book 7 people in probe over fatal SPC bread factory accident

Police have booked seven people, including the plant manager, as part of their investigations into a fatal accident at a bakery factory affiliated with SPC Group earlier this week, officials said Thursday. The accident occurred at SPC's factory in the city of Siheung, just southwest of Seoul, on Monday, when the worker, known only as a woman in her 50s, reportedly had her upper body caught in the conveyor belt during lubrication work. The Siheung Police Station said it has booked seven factory officials on charges of occupational negligence resulting in death. The factory staff are accused of allegedly failing to ensure proper safety management, leading to the death of their employee. Police authorities are currently questioning the officials as suspects in the case. They have also brought in employees who were working alongside the victim at the time as witnesses. Police said the number of people booked in the case could increase as the investigation proceeds.

May 22, 2025By Yonhap
Police book 7 people in probe over fatal SPC bread factory accident
Companies

Hyundai Steel wins award for climate change response

Hyundai Steel has won a renowned award from the Carbon Disclosure Project (CDP) for its excellence in responding to climate change, the steelmaker said Thursday. The company received the Carbon Management Sector Honors at the 2024 CDP Korea Awards last month, earning high recognition for its efforts to establish an eco-friendly production system focused on carbon reduction and for transparently disclosing its environmental management information, the company said. The company set up a roadmap to achieve carbon neutrality by 2050 by making relevant investments to establish an eco-friendly electric furnace. The Carbon Management Sector Honors are awarded to the top three companies in each industry that receive the highest ratings for their carbon-neutral management. “The award has allowed us to win the trust of stakeholders both domestically and internationally and provide valuable investment information to interested parties,” a Hyundai Steel official said. “We will continue to enhance our climate change response capabilities by implementing carbon reduction plans in line with our ca

May 22, 2025By Lee Min-hyung
Hyundai Steel wins award for climate change response
Companies

Hyundai, Kia partner with Incheon Int'l Airport to test AI-based EV charging robot

Hyundai Motor and Kia said Thursday they have partnered with Incheon International Airport Corp. for real-world testing of their artificial intelligence (AI)-powered automatic charging robot (ACR) for electric vehicles (EVs). Under a memorandum of understanding, the companies will conduct a pilot test program of the ACR system at the airport, laying the groundwork to expand the use of robotic EV charging to airport environments. Incheon International Airport, which already has the country's largest eco-friendly vehicle infrastructure, plans to install 1,110 EV chargers by 2026, making it an ideal test bed for the new technology. Hyundai Motor and Kia's Robotics Lab will provide both the hardware and software solutions for the pilot program, while working with airport officials to develop optimized service scenarios. The airport will deploy the charging robot on a fleet of eco-friendly airport vehicles and gather user feedback to evaluate the system's usability and effectiveness. "This marks an important turning point in validating the practical value of future mobility technologies," said

May 22, 2025By Yonhap
Hyundai, Kia partner with Incheon Int'l Airport to test AI-based EV charging robot
Banking & Finance

Woori Financial chairman to host first solo investor relations event in Hong Kong

Woori Financial Group Chairman Yim Jong-yong is set to hold his first solo overseas investor relations event since taking office, the group said Thursday. Starting Wednesday, Yim will visit Hong Kong for three days to meet with major shareholders and global institutional investors. The session will focus on outlining the group's growth strategy following the recent regulatory approval to incorporate Tongyang Life and ABL Life as affiliates. He also plans to share the group’s future policies on shareholder returns, as well as its approach to soundness and risk management. This marks Yim’s first solo overseas investor relations event since his appointment in March 2023. Last September, he participated in a joint session in London alongside heads of other major domestic financial holding companies. The upcoming event in Hong Kong is expected to be a starting point for Yim to pursue a more proactive overseas campaign this year. In a letter sent to global investors in January, Yim stated he would actively seek opportunities to meet with overseas investors in person and listen to diverse p

May 22, 2025By Lee Yeon-woo
Woori Financial chairman to host first solo investor relations event in Hong Kong
Companies

Antitrust watchdog in dilemma over Google’s proposal to halt cross-sales of YouTube Music

The nation’s antitrust watchdog is stuck in a dilemma over whether to accept Google Korea’s proposal that it would stop bundling YouTube Music with its YouTube Premium subscription service amid unresolved trade tensions between Seoul and Washington. The latest decision from Google came in response to the Fair Trade Commission's (FTC) ongoing investigation into what the authority considered “anti-competitive cross-sales practices” done by the market-dominant platform firm. The bundled YouTube Premium subscription plans are offered only to Korean users. The watchdog started reviewing Google's proposal on Thursday, and it will take at least a couple of months to decide whether to accept it and close the investigation. Once the FTC comes to terms with Google Korea, the company will go unpunished over the high-profile investigation and the business activities which have continued for the past seven years here, which the authority viewed as "unfair." However, the FTC is not likely to give a flat refusal to the proposal due to the possibility of U.S. trade retaliation. Seoul is in trade

May 22, 2025By Lee Min-hyung
Antitrust watchdog in dilemma over Google’s proposal to halt cross-sales of YouTube Music
Companies

LIG Nex1 targets global market with multilayered integrated air defense system

LIG Nex1 is accelerating its global expansion with a domestically developed, multilayered integrated air defense system that covers threats from low to high altitudes. In close cooperation with the Defense Acquisition Program Administration and the Agency for Defense Development, the company has played a pivotal role in advancing Korea’s self-reliant defense capabilities by developing and mass-producing advanced weapon systems across all domains — land, sea and air. In particular, LIG Nex1 has served as the prime contractor and systems integrator for several key air defense systems, significantly strengthening the Korean military’s defense capabilities. These include the Cheongung-II, a medium-range, medium-altitude surface-to-air interceptor, and the L-SAM, a long-range, high-altitude interception system. The company also leads the domestic development of other vital systems, such as the Low-Altitude Missile Defense system — which detects, tracks and intercepts multiple long-range artillery threats in minimal time — and the close-in weapon system CIWS-II. Furthermore, LIG Nex1

May 22, 2025By Nam Hyun-woo
LIG Nex1 targets global market with multilayered integrated air defense system
Companies

Samsung Biologics to spin off Bioepis as independent firm

Biopharmaceutical contract manufacturer Samsung Biologics will spin off its wholly owned biosimilar subsidiary Samsung Bioepis, in a move aimed at easing concerns from client drugmakers over potential conflicts of interest and enhancing the corporate value of both companies, the two firms said Thursday. In a regulatory filing, Biologics announced that it will spin off a business division overseeing its subsidiary and new investments to create Samsung Epis Holdings. The holding company will then take over the 100 percent stake in Bioepis from Biologics. When the spin-off is completed, only the contract development and manufacturing organization (CDMO) business will remain in Biologics, while Epis Holdings will have a 100 percent stake in Bioepis. This means that its order-based CDMO business and new biosimilar drug business will be completely separated. The holding firm will also establish new biopharmaceutical platform subsidiaries. After the spin-off, shareholders with 100 Biologics shares will receive approximately 65 Biologics shares and 35 Epis Holdings shares. The ratio was set bas

May 22, 2025By Nam Hyun-woo
Samsung Biologics to spin off Bioepis as independent firm
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