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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

Hyundai Motor, Kia show strong commitment to US market at New York Auto Show

Hyundai Motor and Kia displayed their firm commitment to expanding their presence in the United States by setting up the largest booth at the New York Auto Show, showcasing their strategic vehicles — including the Palisade SUV and a string of their flagship electric vehicles (EVs) — for the world’s largest economy. The second generation of Hyundai Motor's Palisade made its debut in the U.S. with two powertrains — hybrids and turbocharged gasoline engines, Wednesday (local time). The carmaker unveiled the redesigned version of the SUV for the first time in six years in the U.S. Hyundai Motor hopes to boost sales for the hybrid version of the vehicle, as it is equipped with diverse cutting-edge technologies in areas such as driving safety, handling and braking performance, the company said. Along with the Palisade SUV, the carmaker set a renewed plan to launch 21 EV models until 2030. It also said the lineup for hybrids will expand to 14 models on the same timeline, according to Hyundai Motor CEO José Muñoz. He expressed the carmaker’s grand vision to attain EV sales of 2 milli

Apr 17, 2025By Lee Min-hyung
Hyundai Motor, Kia show strong commitment to US market at New York Auto Show
Tech & Science

US regulations on China-bound chips to weigh on Samsung Electronics

Tightened U.S. regulations on China-bound exports of advanced artificial intelligence (AI) semiconductors are putting pressure on Samsung Electronics, as the country remains the largest market for the company's chip exports. Following a restriction on Nvidia’s shipments of H20 AI processors to China, the Financial Times reported the United States has also required Intel to obtain a license for selling chips to Chinese clients. Industry insiders say the recent regulatory trend suggests that U.S. pressure is likely to intensify and may soon extend to directly target Chinese AI chipmakers, which could deal a blow to Samsung’s HBM business as well. According to a regulatory filing, Samsung’s sales in China stood at 64.93 trillion won ($45.78 billion) last year, up 53.8 percent from 42.2 trillion won the previous year. China accounted for 31 percent of Samsung’s 209 trillion won in standalone sales in 2024, making it the company’s largest market and overtaking the Americas, which recorded 61.35 trillion won in sales during the same period. The company did not provide a breakdown of

Apr 17, 2025By Nam Hyun-woo
US regulations on China-bound chips to weigh on Samsung Electronics
Banking & Finance

Hana Financial hosts art fair for people with developmental disabilities

Hana Financial Group held Hana Artverse, an art fair for people with developmental disabilities, on Thursday to provide a platform for artistic expression, the group said. The event held for the fourth year is part of Hana's commitment to promoting mutual, inclusive growth and awareness of disabilities. A total of 877 people applied for the top award, up 1.5 times compared to the previous year. The event had 30 winners, who will receive a combined 10.6 million won ($7,466) in prize money. Hana Financial Group Chairman Ham Young-joo said painting can be a great way to portray their lives, especially for people with developmental disabilities wishing to tell their stories. “The work of painting in itself can help share messages of hope,” he said. “Hana Financial will continue to stand by these artists through their lifelong journey of hopes and dreams in a world free of prejudice and discrimination. We are committed to enhancing social understanding and awareness of disabilities.” The winning works will be on display at Hana Bank headquarters gallery until Friday. They will then be m

Apr 17, 2025By Lee Kyung-min
Hana Financial hosts art fair for people with developmental disabilities
Companies

FTC sanctions POSCO for deceptive eco-friendly marketing

The Fair Trade Commission (FTC) ordered POSCO and POSCO Holdings to rectify their deceptive eco-friendly marketing campaign on Thursday. The nation's top antitrust watchdog said the steelmaker promoted products certified under its "INNOVILT" label as eco-friendly construction materials without evidence. The company also advertised two other brands, e Autopos and Greenable, as eco-friendly, despite lacking evidence of their environmental contributions. The “INNOVILT” certification is granted to construction materials made from POSCO that meet certain criteria. However, the FTC noted that environmental sustainability plays only a minor role in the assessment, making it inappropriate to market certified products as eco-friendly. Furthermore, the agency said that “e Autopos” and “Greenable” are strategic labels for steel products used in electric vehicles and wind energy equipment, respectively. However, they do not involve unique or separate steel materials exclusive to those brands. The FTC determined that POSCO’s actions constituted false and exaggerated advertising by imply

Apr 17, 2025By Lee Min-hyung
FTC sanctions POSCO for deceptive eco-friendly marketing
Companies

Sinkhole threats put construction firms on edge

Construction firms are on high alert after another death due to land subsidence. Already the primary targets of criticism following fatal accidents caused by sinking ground surfaces, the companies are now facing growing concerns over sinkholes threatening major infrastructure projects. POSCO E&C is currently under scrutiny for its supervision of the construction of the Sinansan Line in Gwangmyeong, Gyeonggi Province, which collapsed on April 11, causing a section of the road above to cave in. After a company employee in his 50s was found dead on Wednesday — six days after going missing from the site — the construction firm issued a statement apologizing for the incident and offering condolences to the bereaved family. "We will do our best to determine the cause of the accident and cooperate with the authorities to resume construction as soon as possible," the company said. "We will also implement safety measures to prevent similar accidents from happening again." However, it remains uncertain when construction will resume. Following a tunnel collapse in 2020 at a railway construction s

Apr 17, 2025By Park Jae-hyuk
Sinkhole threats put construction firms on edge
Companies

Herbalife Korea's commitment to healthy lifestyles recognized with consecutive awards

As consumer preferences evolve, shoppers now consider not only product performance and ingredient quality but also a company’s management philosophy and social values. This growing trend has given rise to the term "check-sumer," a blend of “check” and “consumer,” referring to individuals who scrutinize brands for their commitment to social and environmental responsibility. In line with this shift, Herbalife Korea has solidified its position as a trusted health and wellness brand through consistent environmental, social and corporate governance (ESG) efforts, earning recognition and numerous prestigious awards. Herbalife Korea’s corporate mission is to support healthy and vibrant lifestyles. The company gained consumer trust by offering science-backed, high-quality products and solutions. Herbalife consistently launches new products aligned with current health trends and designs promotions tailored to seasonal needs. These efforts, along with the company’s customer-focused approach, have further strengthened its brand reputation. The company’s products are developed based

Apr 17, 2025By Nam Hyun-woo
Herbalife Korea's commitment to healthy lifestyles recognized with consecutive awards
Tech & Science

LG CNS to supply EV charger, smart pole system to US

LG CNS will provide its smart city technology for the U.S. public sector, making its first deals with cities in New York and Georgia. The company recently signed an agreement with the New York City Economic Development Corp. for a pilot project to implement electric vehicle (EV) chargers and control systems. The deal involves building and operating EV charging stations at the Brooklyn Army Terminal, a startup hub that allows companies to test their technologies in real environments before commercializing them. The company will also manage a charging control system and app that can monitor real-time energy usage data. Users can check charging status, real-time availability and make reservations through the app. For the project, the company will use its smart city platform, City Hub Building, which monitors and controls various facilities based on Internet of Things (IoT) technology. The system will allow real-time monitoring for malfunctions and power usage through remote sensor control, as well as displaying digital content with digital signage. Starting with the contract, LG CNS plans t

Apr 17, 2025By Lee Gyu-lee
LG CNS to supply EV charger, smart pole system to US
Companies

Chinese battery giants ramp up expansion in Korea

Competition is heating up in the domestic battery industry as CATL has joined its Chinese peers in expanding its presence in the Korean market. The world's leading electric vehicle (EV) battery maker by market share recently began recruiting energy storage system (ESS) sales managers, corporate counsels and human resources generalists to work for its Korean subsidiary, CATL Korea. Since its establishment in January, CATL Korea has been led by a 36-year-old Chinese national, Han Xinjun, and a 59-year-old Australian co-CEO, John Hyuk-joon Kwon, who previously served as general counsel for the battery maker. The opening of the Korean subsidiary and its recruitment drive followed CATL's confirmation last September that it would establish a local unit "in the near future." Prior to that, the Chinese firm operated an office in Seoul. The subsidiary is specifically seeking applicants for the corporate counsel role to "assist on the ramp up of ESS business for Korea." Given that CATL is reportedly considering launching a sales subsidiary in South Chungcheong Province — home to manufacturing fac

Apr 17, 2025By Park Jae-hyuk
Chinese battery giants ramp up expansion in Korea
Companies

Hanwha Aerospace teams up with Romanian university to expand defense cooperation

Korean defense giant Hanwha Aerospace said Thursday it signed a memorandum of understanding (MOU) with a Romanian university to expand industry-academia collaborations in the Eastern European country. The trilateral agreement with the University of Science and Technology Politehnica Bucharest and Korea's Pusan National University aims to support Hanwha Aerospace's efforts to secure advanced defense technology and skilled talent while reinforcing its localization strategy in the region, according to the company. The MOU follows Hanwha Aerospace's 1.4 trillion won ($987.2 million) contract signed last year with Romania to export weapons and ammunition, including 54 K-9 self-propelled howitzers. "Through this industry-academia collaboration, Hanwha Aerospace will foster local talent, establish a research and development center at the university, and build a manufacturing facility in Romania," Bae Jin-kyu, head of Hanwha Aerospace Romania, said.

Apr 17, 2025By Yonhap
Hanwha Aerospace teams up with Romanian university to expand defense cooperation
Business

Korean consortium exports nuclear reactor tech to US for 1st time

A consortium comprising a Korean research agency, a private company and a U.S. firm signed a contract with the University of Missouri on Thursday to export a design for the university’s next-generation research nuclear reactor, the Korean Ministry of Science and ICT said. This marks the first time Korea has exported nuclear power technology to the United States since it began learning about the technology from the U.S. in 1959. The consortium, consisting of the Korea Atomic Energy Research Institute (KAERI), Hyundai Engineering and American nuclear technology solution provider MPR, has agreed to provide a design study package for the Next Generation Missouri University Research Reactor. The design package is the reactor project’s first phase. The contract signing follows the consortium’s selection as the preferred bidder last July in a competitive tender issued by the University of Missouri. The university is planning to build a research reactor with a thermal capacity of 20 megawatts. The ministry said the deal marks Korea’s first export of nuclear technology to the United Stat

Apr 17, 2025By Ko Dong-hwan
Korean consortium exports nuclear reactor tech to US for 1st time
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