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  • Companies

    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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Companies

US sales of Hyundai Palisade SUV exceed 500,000 units

Hyundai Motor, Korea's top automaker, said Sunday it has sold over 500,000 units of the Palisade sport utility vehicle (SUV) in the United States. The cumulative sales of the Palisade in the United States reached 506,425 units as of the end of last month, according to Hyundai's sales data. Hyundai Motor launched the first-generation Palisade SUV in the U.S. market six years ago in 2019. The second-generation model is set to be released there later this year. In 2024, about two-thirds of the Palisade's global sales of 165,745 units came from the U.S. market. Citing the U.S. as the "world's most competitive SUV market," Hyundai said it will further boost sales there with a diversified SUV lineup composed of the Tucson, Santa Fe and Palisade models. Of 4.02 million vehicles sold in the U.S. in the January-March period, 3.12 million units, or 78 percent, were SUVs and other multipurpose vehicles, according to automotive sales data firm MarkLines. The second-generation Palisade SUV will be available in the world's most important automobile market in the second half of the year. Domestically, it

Apr 20, 2025By Yonhap
US sales of Hyundai Palisade SUV exceed 500,000 units
Banking & Finance

InterviewCrosshub sets out to build borderless identity, payment ecosystem

Cross-border payments continue to face high costs, slow processing speeds, complex regulatory environments and a lack of interoperability between systems, Piero Cipollone, a member of the European Central Bank Executive Board, pointed out in a speech earlier this month. As he noted, differences between national financial systems lead travelers to experience various payment barriers, including limited payment options and high currency exchange fees. In addition, mobile payment services such as Apple Pay and Alipay operate on a country-specific basis, making them less accessible to foreigners staying in a country for a short period. This inconvenience is exactly what Crosshub set out to solve. Founded in May last year, the Korean startup is developing a global seamless payment solution that integrates identity verification with payments, allowing users to continue using their preferred payment methods across borders — overcoming the limitations of each country’s financial regulations and payment networks. “Our IDBlock is a next-generation hybrid identity authentication system, built

Apr 19, 2025By Jun Ji-hye
Crosshub sets out to build borderless identity, payment ecosystem
Tech & Science

AI-based English learning app Speak makes Forbes' 2025 AI 50 list

Speakeasy Labs Korea's AI-based English learning app, Speak, has been named to Forbes' 2025 AI 50, becoming the only language education company to make the list this year. “Being selected for the Forbes AI 50, which only nominates the most innovative companies in the global AI technology field, is a meaningful moment that recognizes the value of our technology and vision," Connor Zwick, CEO of Speak, said in a press release. "Language is more than just a means of communication, but the key to global careers and cross-cultural communication. Speak will continue to break down language barriers with AI technology and create a world where people can communicate confidently." Launched in 2018, the global publishing company’s AI 50 list annually selects private companies that have contributed to solving real-life problems with AI. This year, 1,860 companies registered as candidates, from which the finalists were selected by Silicon Valley's venture capital firm Sequoia Capital and investment firm Meritech Capital. The finalists were selected based on their technological capabilities, AI ut

Apr 19, 2025By Lee Gyu-lee
AI-based English learning app Speak makes Forbes' 2025 AI 50 list
Tech & Science

Local maps gain popularity, but leave foreigners unsatisfied

Local map apps like Naver Map and KakaoMap have seen a surge in user numbers, but many non-Korean users remain dissatisfied with the services, citing issues with language support and search functionality — despite the platforms’ ongoing efforts to improve accessibility for foreign travelers. Posts complaining about the navigation apps were common on foreign online forums and communities, with users struggling to find the correct names of the places on the map. Other issues include being unable to search using the English version of the address or by keywords like "night markets in Dongdaemun" and "Myeong-dong." “I have been checking out places I want to visit (in Seoul) on the Naver map. It works when the name of the store is pasted in Korean but struggles to identify the English name when typed in,” a user wrote. “Struggling to locate the hotel I’m staying in using Naver. I also tried a copy-paste of just the address on the maps and no luck.” Another user wrote: “(I never) try anything with an English address. They’re a mess, and the maps never pick them up because yo

Apr 18, 2025By Lee Gyu-lee
Local maps gain popularity, but leave foreigners unsatisfied
Companies

US port fees on Chinese ships likely to benefit Korea

Korean shipping companies and shipbuilders are emerging as potential beneficiaries of the U.S. Trade Representative's (USTR) recent decision to impose new port fees on ships built or operated by Chinese firms. Citing the low share of Chinese-built vessels in HMM's fleet, analysts predict that more freight owners will turn to Korea's largest container carrier when shipping goods to the United States. "Chinese-built vessels account for only 6 percent of HMM's entire container fleet — the lowest among global shipping companies," Hana Securities analyst Ahn Do-hyun said. "Since HMM has not placed any orders with Chinese shipyards, it is unlikely to be affected by U.S.-China tensions." Among HMM's 83 container ships, five were built in China. Two of those are rented and will be returned soon, while the remaining three are used mainly for Southeast Asian routes. "HMM is expected to gain the upper hand over competitors in securing cargo volume, as it is free from U.S. regulations on Chinese-built ships," Meritz Securities analyst Oh Jung-ha said. Korean shipbuilders are expected to benefit from

Apr 18, 2025By Park Jae-hyuk
US port fees on Chinese ships likely to benefit Korea
Companies

US urges LNG import ahead of high-level tariff talks with Korea

Washington renewed calls Friday for Korea to increase imports of liquefied natural gas (LNG) from Alaska, ahead of formal negotiations next week aimed at reducing tariffs under U.S. President Donald Trump's revised trade strategy. However, Seoul remained cautious about gas imports from the northwestern U.S. state and a related pipeline construction project, amid persistent concerns over their feasibility. Tommy Joyce, acting assistant secretary for the U.S. Department of Energy's Office of International Affairs, encouraged Korea and other allies to support the U.S. government's plan to expand LNG exports, which it claims will help bolster global energy security. "The Trump administration is committed to unlocking the 20 million tons per year of gas exports from Alaska and views this as a fantastic opportunity to strengthen Asia's energy security," Joyce said in a pre-recorded video message during the Evolving Energy Forum hosted by the American Chamber of Commerce in Korea (AMCHAM). He described Korea as a key player in helping unleash American energy and advancing Trump's vision of buil

Apr 18, 2025By Park Jae-hyuk
US urges LNG import ahead of high-level tariff talks with Korea
Companies

Asiana Airlines faces backlash for mislabeling Ukrainian cities as Russian territory on in-flight map

South Korea's Asiana Airlines on Friday came under fire for mislabeling two Ukrainian cities as part of Russia on its in-flight infotainment system, drawing criticism from Ukrainian nationals and social media users. According to a passenger who shared a photo on Instagram, the cities of Dnipro (formerly Dnepropetrovsk) and Donetsk appeared under Russian territory on the airline's digital map. The labeling is not found on Asiana's official website, suggesting the issue may be limited to the in-flight entertainment platform. In an Instagram direct message exchange, Yuliana Romaniv, the Ukrainian passenger who uploaded the photo on social media, told Yonhap News Agency that the photo was taken Wednesday on an Incheon-London flight. "It was heartbreaking, honestly. Dnipro was never under Russian occupation, so that was a shock for me," Romaniv said. "A lot of Ukrainians lost their loved ones who went to defend those cities, and seeing it labeled as Russian territory was very painful." Romaniv said she notified Asiana Airlines of the blunder via social media "but (I) haven't gotten a response

Apr 18, 2025By Yonhap
Asiana Airlines faces backlash for mislabeling Ukrainian cities as Russian territory on in-flight map
Companies

Daewoo E&C signs framework agreement to build fertilizer plant in Turkmenistan

Daewoo Engineering & Construction has signed a $700 million framework agreement to build a fertilizer plant in Turkmenistan, Seoul's industry ministry said Friday. The agreement was signed in Seoul with Turkmenistan's state-owned chemical firm, Turkmenhimiya, according to the Ministry of Trade, Industry and Energy, noting the Korean firm was named the preferred bidder for the project in October. The project aims to construct a fertilizer plant that will extract phosphoric acid from phosphate rocks and process the substance into 300,000 tons of fertilizers annually in eastern Turkmenistan by 2029. After the agreement signing ceremony, Korean Industry Minister Ahn Duk-geun met with his Turkmen counterpart, Baymyrat Annamammedov, and discussed expanding bilateral cooperation in other industrial plant projects, the ministry said. "Turkmenistan is a key region that we expect to serve as a strategic hub for the construction market in Central Asia," a company official said. "We will do our best to explore new markets and diversify our business portfolio."

Apr 18, 2025By Yonhap
Daewoo E&C signs framework agreement to build fertilizer plant in Turkmenistan
Companies

CJ Logistics to introduce AI humanoid seeking fully autonomous operations

CJ Logistics signed a partnership with a robotic platform specialist in Korea to introduce humanoids with autonomous decision-making for faster logistics operations, the country's major logistics firm said Thursday. The company on Wednesday signed a partnership with Rainbow Robotics at CJ Logistics' Seoul office. Under the agreement, Rainbow Robotics is developing artificial intelligence (AI)-based humanoids with various robotic hardware technologies, including collaborative robots, mobile robots with arms and autonomous mobile robots. CJ Logistics, meanwhile, is working on AI-based software to be implemented for Rainbow Robotics’ humanoids. The company is developing Agentic AI, an AI technology with autonomous decision-making capability. The company said it will implement Agentic AI in its logistics operations to automate the entire process. CJ Logistics said logistics workplaces require the highest level of difficulty for robotic help in industries because countless items of various sizes and weights must be sorted fast and without error. Autonomous humanoids fit ideally into such an

Apr 17, 2025By Ko Dong-hwan
CJ Logistics to introduce AI humanoid seeking fully autonomous operations
Tech & Science

SKT meets with IonQ to discuss business initiatives

SK Telecom CEO Ryu Young-sang met with IonQ Executive Chair Peter Chapman Thursday to discuss cooperation between the two companies. According to the Korean telecommunication operator, the meeting at its headquarters in Seoul was also attended by senior SK Telecom officials, along with Chief Financial Officer Thomas Kramer and Vice President of Sales and Strategic Partnerships Philip Farah from the U.S. quantum computing company. During the meeting, the two companies explored potential cooperation on quantum business initiatives as a follow-up to their recent strategic alliance agreement. Reconfirming their shared interest in areas such as quantum networking and quantum security, they discussed strengthening and developing their cooperation in these areas. "Cooperation with IonQ is an opportunity for SKT to expand its business area not only to quantum security but also to quantum computing," Ryu said. "SKT will continue to invest and cooperate to lead the market in the future." SKT and IonQ also examined the possibility of expanding SKT's current quantum security business partnerships wi

Apr 17, 2025By Lee Gyu-lee
SKT meets with IonQ to discuss business initiatives
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