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    Samsung, SK chip investment timelines leave room for adjustment

    Samsung Electronics and SK hynix announced a combined 800 trillion won ($516.4 billion) investment commitment to establish advanced chip plants in Gwangju and South Jeolla Province in Korea's southwest, but stopped short of providing a timeline for when the investments will be made or construction will begin, leaving room to adjust their spending plans until the long-term memory chip cycle becomes clearer. According to the government and the chipmakers, Samsung and SK will each invest 400 trillion won to build two advanced memory fabrication each in the region, for a total of four new fabs as part of the government’s “three megaprojects for Korea’s leap forward.” Samsung Electronics Executive Chairman Lee Jae-yong named Gwangju as the candidate site, while SK Group Chairman Chey Tae-won referred to the region as a whole. While announcing the massive plans while standing with President Lee Jae Myung, who have been urging the chipmakers to make investment in the southwestern region, the leaders refrained from specifying timelines for the new fabs. The companies also did not mention

    4 MIN READBy Nam Hyun-woo
    Samsung, SK chip investment timelines leave room for adjustment
  • Banking & Finance

    KakaoBank lands 4 papers at leading AI conferences

    2 MIN READBy Lee Hyo-jin
    KakaoBank lands 4 papers at leading AI conferences
  • Companies

    LG Electronics to establish control tower for robotics business

    2 MIN READBy Nam Hyun-woo
    LG Electronics to establish control tower for robotics business
  • Companies

    Incheon airport operator to halve employee parking permits

    3 MIN READBy Lee Min-hyung
    Incheon airport operator to halve employee parking permits
  • Companies

    Court grants JTBC time for autonomous restructuring amid liquidity crisis

    1 MIN READBy Yonhap
    Court grants JTBC time for autonomous restructuring amid liquidity crisis
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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

S. Korea to build biggest-ever offshore wind power cluster by 2033: ministry

South Korea will create its biggest-ever offshore wind power cluster by 2033 as part of efforts to expand its use of renewable energy, the industry ministry said Tuesday. The envisioned wind farm will be built in waters off Sinan, some 300 kilometers southwest of Seoul in South Jeolla Province, consisting of 10 wind power complexes with a combined production capacity of 3.2 gigawatts (GW), according to the Ministry of Trade, Industry and Energy. Its production capacity will be greater than that of two nuclear power plants, the ministry explained. The Sinan cluster also compares with a 1.4 GW wind power complex, planned to be constructed in North Jeolla Province.

Apr 22, 2025By Yonhap
S. Korea to build biggest-ever offshore wind power cluster by 2033: ministry
Tech & Science

Korea opens new, largest research center for rechargeable batteries in Cheongju

Korea's biggest rechargeable battery research center opened Tuesday in the central city of Cheongju with an aim of enhancing the global competitiveness of local businesses in the sector, the industry ministry said. The Battery Solution Testbed Zone (BST Zone) is a facility that brings together numerous infrastructure for research and testing across the entire value chain of rechargeable batteries, from materials, components and cells to modules and all solid-state batteries, according to the Ministry of Trade, Industry and Energy. The facility will help Korean battery companies develop new materials by providing data on physical and chemical properties of materials and components for secondary batteries, as well as assessments on their safety. "With the operation of BST Zone, the special industrial complex in North Chuncheong Province will take a leap forward as a strategic hub for secondary battery development," said Lee Seung-ryeol, deputy minister for industry policy at the ministry. "The government will continue to expand support for companies and help them gain global competitivenes

Apr 22, 2025By Yonhap
Korea opens new, largest research center for rechargeable batteries in Cheongju
Companies

Google's request for map data sparks debate in Korea

Korea faces a growing dilemma over whether to accept Google’s renewed request for the transfer of high-precision local map data overseas, as the request could potentially serve as a bargaining chip in the country’s ongoing tariff negotiations with the United States. The U.S. search giant sought approval to transfer the 1:5,000-scale high-precision map data to its overseas data centers twice, in 2007 and 2016, but was rejected both times by the Korean government over concerns about potential leaks of national security information. The government, however, has come under stronger pressure this time amid escalating trade pressure from the Donald Trump administration. The U.S. Trade Representative is moving to bring the issue to the negotiating table with its upcoming tariff talks with Korea in Washington on Thursday (local time). Its latest report last month cited the map issue as one of the major trade barriers with Korea. The Korean government is refraining from taking a firm stance on the issue for now, seemingly due to concerns over trade risks with the U.S. Korea is taking a cautio

Apr 22, 2025By Lee Min-hyung
Google's request for map data sparks debate in Korea
Companies

SK Telecom reports hacking incident involving partial leak of user USIM data

SK Telecom, Korea's leading mobile carrier, said Tuesday it has reported a hacking incident involving the partial leakage of information related to customers' universal subscriber identity module (USIM) data. The company confirmed that it detected signs of unauthorized network access on Saturday, triggered by malicious code apparently inserted by an unidentified hacker. SK Telecom said it has launched a full investigation into the breach. No cases of misuse have been reported so far. Upon identifying the breach, the company said it immediately deleted the malicious code and isolated the network system in question. It also notified the Korea Internet & Security Agency and the Personal Information Protection Commission of the incident. The company has published a notice on its website informing customers of the breach while offering USIM protection services free of charge for customers who wish to take security measures. The Ministry of Science and ICT said it has formed an emergency response team to investigate the incident and review the company's measures over user data compromise, and t

Apr 22, 2025By Yonhap
SK Telecom reports hacking incident involving partial leak of user USIM data
Companies

LG Electronics to exit EV charger business amid global demand slowdown

LG Electronics said Tuesday it will exit the electric vehicle (EV) charger business, citing prolonged global demand stagnation in the EV market. The company's EV charger-manufacturing subsidiary, HiEV Charger, will be liquidated, and all employees involved in the business will be reassigned to other divisions within LG Electronics. The company added that it will continue to provide maintenance services to existing clients without disruption. LG entered the EV charging market in 2022 by acquiring HiEV Charger, formerly known as AppleMango, after initiating early research and development in the segment in 2018. Since then, the company had offered charging solutions in South Korea, including chargers at Emart retail stores, and expanded into the U.S. market last year, opening a production plant in Texas in January 2024. The decision to withdraw comes as LG Electronics has refocused its efforts to prioritize growth in its heating, ventilation and air conditioning (HVAC) business. LG Electronics CEO Cho Joo-wan had previously identified the EV charger business as a key growth driver in the comp

Apr 22, 2025By Yonhap
LG Electronics to exit EV charger business amid global demand slowdown
Companies

Local music streaming services struggle against dominant YouTube Music

With YouTube Music continuing to dominate the music streaming market in Korea, local music streaming platforms like Melon and Genie Music are scrambling to close the gap, making efforts to shift strategies to offer experiences beyond simple playlists. According to industry tracker Wiseapp’s retail analysis, YouTube Music saw the most monthly active users (MAU) last month, reaching about 9.53 million users. This is about a third higher than the second-highest platform Melon, which saw about 6.44 million users in the same month. Global music platform Spotify came in third with 3.28 million, while Genie Music was fourth with 2.59 million MAU. With YouTube Music firmly holding the lead, local streaming platforms are seeking ways to differentiate themselves to expand their share of the pie. Melon has carved out a niche by targeting K-pop fans, providing users with exclusive, artist-focused experiences. The platform offers original content, such as interview videos and behind-the-scenes photos of artists. Key features include Fan Meetup events, where artists personally introduce new releases

Apr 22, 2025By Lee Gyu-lee
Local music streaming services struggle against dominant YouTube Music
Business

US expert foresees difficulty for Korea over possible measures against China in trade talks with US

A prominent U.S. expert said Monday that South Korea could face difficulty in agreeing to trade measures against China when it holds high-level tariff talks with the United States this week, as China warned countries against striking deals unfavorable to Beijing's interests. Wendy Cutler, vice president of the Asia Society Policy Institute, made the remarks as Seoul and Washington plan to hold "two-plus-two" talks involving their finance and trade ministers in Washington on Thursday to discuss tariff and other related issues. Ahead of the talks, China's commerce ministry issued a warning that it will "resolutely" take countermeasures if any country strikes a deal that might undermine China's interests. "Of particular difficulty for Korea will be agreeing to measures that target China, its largest trading partner," Cutler said in a statement. "Today's warning from Beijing is probably causing increased angst among Korea's negotiating team, which is trying hard to address U.S. concerns but will have its limits." The expert also voiced concerns over the potential effect of South Korea's June

Apr 22, 2025By Yonhap
US expert foresees difficulty for Korea over possible measures against China in trade talks with US
Companies

Why Lee Jae-myung's pledge to revitalize Busan rattles maritime sector

Controversy is mounting over liberal Democratic Party of Korea (DPK) presidential contender Rep. Lee Jae-myung's proposal to relocate the Ministry of Oceans and Fisheries from Sejong to Busan. The strongest backlash came from the lawmaker's own constituency in Incheon. Two days after Lee announced the pledge Friday as part of his broader plan to revitalize Korea's southeastern industrial complex, civic groups and businesses in the western port city of Incheon urged him to reconsider, claiming that the plan could exacerbate regional tensions. Citing the distance between Busan and other major ports, they voiced concerns that relocating the ministry could lead to neglect of cities like Incheon and Gwangyang. "Korea has ports in Gwangyang, Incheon and various other cities, each playing important roles," the Incheon Citizens' Coalition for Economic Justice said in a statement. "We don't understand why all maritime-related public institutions must be concentrated in Busan." Lee's promise to also attract the headquarters and R&D centers of large domestic and international shipping and logistics

Apr 21, 2025By Park Jae-hyuk
Why Lee Jae-myung's pledge to revitalize Busan rattles maritime sector
Companies

Samsung Biologics celebrates 14th anniv. as world’s top CDMO

Samsung Biologics celebrated the 14th anniversary of its founding on Monday, marking its rise to become the world’s largest contract development and manufacturing organization (CDMO). After surpassing 4 trillion won ($2.82 billion) in annual sales last year, the biotech is aiming for the 5 trillion won mark this year, boosted by a 2 trillion won order secured in January. Samsung Biologics was founded in 2011 as a result of Samsung Group’s efforts to diversify its portfolio by entering the biopharmaceutical industry. Despite the late entry, the company quickly rose in the CDMO industry for its competitiveness in quality and by securing large-scale production capacity. During the past 14 years, the company has secured a total production capacity of 784,000 liters, the largest in the global CDMO industry. The biotech has secured over 350 manufacturing approvals from regulatory authorities around the world so far, and the number of its employees has grown to over 5,000 from 110 in 2011. As of last year, the company has clinched 99 contract manufacturing deals and 133 contract development

Apr 21, 2025By Nam Hyun-woo
Samsung Biologics celebrates 14th anniv. as world’s top CDMO
Companies

Hyundai Motor’s Elec City buses on Japan’s Yakushima Island

Hyundai Motor Group Vice Chair Chang Jae-hoon, center, poses with Iwasaki Group CEO Yoshitaro Iwasaki, fourth from right, after supplying its Elec City electric buses on Yakushima Island, a tropical island off the southern coast of Kyushu, Japan, Monday. The region is designated as a UNESCO World Heritage site. The carmaker said it hopes to set an exemplary case for eco-friendly mobility for the island. Courtesy of Hyundai Motor

Apr 21, 2025By Lee Min-hyung
Hyundai Motor’s Elec City buses on Japan’s Yakushima Island
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