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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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Companies

KCCI proposes 'mega sandbox' as solution to regional imbalance

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, who also heads SK Group, appeared in a television documentary Saturday to propose a “mega sandbox” concept to revitalize non-capital areas suffering from population decline. During a roundtable with young startup CEOs featured in the program, Chey suggested designating specific regions as zones with significantly relaxed regulations to attract talent and companies developing future-oriented technologies. “Creating decent jobs in a region brings people in and improves living conditions, which in turn helps prevent regional decline and low birth rates,” he said. “If we choose one or two places and focus on making them successful, we can use them as models for other regions.” Chey also encouraged local universities to guarantee employment opportunities for students after graduation. Emphasizing the need for advanced infrastructure, he highlighted the importance of a foundational hub for artificial intelligence (AI) technologies. “There should be at least one place in Korea with proper AI infrastructure,” he

Apr 13, 2025By Park Jae-hyuk
KCCI proposes 'mega sandbox' as solution to regional imbalance
Business

US exempts smartphones, computers from sweeping tariff scheme

U.S. President Donald Trump's administration has exempted smartphones, computers and several other electronic devices from a sweeping set of reciprocal tariffs, offering relief to Korea's Samsung Electronics, Apple and other global tech firms. The U.S. Customs and Border Protection (CBP) issued a notice Saturday (U.S. time) announcing the exemption of select electronics, such as smartphones, laptops, personal computers (PCs), servers and semiconductor equipment, from the reciprocal tariffs, including the 125 percent levies imposed on Chinese imports. The exclusions apply retroactively from April 5, it added. The latest decision is expected to ease concerns across the global tech industry about surging prices, as many of those products are manufactured in China. Trump had initially planned to implement steep reciprocal tariffs on most countries, but he announced a 90-day pause on the scheme last week. Instead, the U.S. has imposed a blanket global tariff of 10 percent. For imports from China, the exemption applies only to the 125 percent reciprocal tariffs. Previous duties of 20 percent on

Apr 13, 2025By Yonhap
US exempts smartphones, computers from sweeping tariff scheme
Tech & Science

Go legend Lee Se-dol becomes professor at UNIST: 'I will teach how to harmonize with AI'

Lee Se-dol, the only human to defeat artificial intelligence in the game of go, has begun teaching gifted science students as a special professor at Ulsan National Institute of Science and Technology (UNIST). Starting this semester, Lee joined the Department of Mechanical Engineering at UNIST as a special appointment professor and held a press conference at the university, Friday. Reflecting on his iconic 2016 match against AlphaGo, Lee said he hopes to help students develop problem-solving skills and innovative thinking that will equip them to lead in the age of AI. "AI is not a competitor, but a partner we can collaborate with," Lee said. "Through working with AI, we can break free from the constraints we impose on ourselves." This semester, Lee is teaching a course titled "Board game design for scientists," in which students conceptualize and build their own board games. The class encourages logical thinking and creativity, with go also being a key part of the curriculum. Through the game, students are exposed to complex problems and learn to develop solutions. "I want to go beyond t

Apr 12, 2025By KTimes
Go legend Lee Se-dol becomes professor at UNIST: 'I will teach how to harmonize with AI'
Companies

Outlook rosy for Korean shipbuilders as US hints at purchasing vessels

Korean shipbuilders are seeing a wave of opportunity on the horizon as U.S. President Donald Trump said Thursday his administration will likely purchase vessels from countries with a competent shipbuilding industry to strengthen its maritime presence across the world. Top-ranking U.S. Navy officials also said Wednesday the country needs vessels built by strong private shipbuilders overseas to bolster the country's navy firepower. The remarks have fueled speculation that Korean shipbuilders may log lucrative orders from the U.S. Trump made the remark during a cabinet meeting as China's shipbuilding capability has grown to trigger U.S. concerns. Cooperation with Korea has emerged as a key countermeasure. "We're going to be rebuilding our shipbuilding business. We may order ... would have to go to the Congress for this, but we may buy some ships from other countries that we're close to and that do great jobs with ships, but we're going to start the process of rebuilding," Trump said. "We don't really essentially build ships anymore, which is ridiculous. It's going to be a very big business

Apr 11, 2025By Ko Dong-hwan
Outlook rosy for Korean shipbuilders as US hints at purchasing vessels
Business

US shows willingness to handle tariff talks smoothly with S. Korea: trade minister

The United States has expressed a willingness to handle the tariff negotiations with South Korea and Japan as smoothly as possible, Seoul's Trade Minister Cheong In-kyo said Friday, describing the U.S.' openness as a key outcome of his visit to Washington. "We held various discussions aimed at ensuring smooth trade relations with the Trump administration," Cheong told reporters at Incheon International Airport upon returning from his two-day visit to Washington. Cheong's trip marked the first of its kind by a senior South Korean trade official since the Donald Trump administration announced country-by-country reciprocal tariffs, including 25 percent duties for South Korea, that took effect this week. During his stay in Washington, Cheong met with U.S. Trade Representative (USTR) Jamieson Greer and other key officials to discuss the tariff issue. "The biggest achievement of the visit was establishing a framework for item-by-item negotiations, particularly concerning steel and automobiles," Cheong said, adding that Washington showed a willingness to reach an agreement with both Seoul and T

Apr 11, 2025By Yonhap
US shows willingness to handle tariff talks smoothly with S. Korea: trade minister
Companies

Naver and Kakao’s favorite characters to collaborate

Naver's popular webtoon character Maru from “Maru is a Puppy” and Kakao Friends’ character Choonsik will meet in a merchandise collaboration in a rare example of partnership between Korea's top internet service companies. According to Naver Webtoon on Friday, it will roll out a short webtoon on Instagram on Monday showing Maru and Choonsik's new friendship. Collaborative merchandise featuring both characters will be unveiled on Wednesday and Thursday and will be available for sale on April 18. The merchandise will be sold on Naver Webtoon's online merchandise store, Webtoon Friends, and on Kakao Friends’ online and offline stores, as well as online platforms like Kakao Talk, 29cm and Musinsa. The webtoon “Maru is a Puppy” follows the daily life of a poodle named Maru who suddenly turns into a human child. It has gained enormous popularity, resulting in a profusion of memes and accumulating a total of over 270 million views since it was first released in 2022. Despite the series ending last November, the company helped maintain its popularity through collaborations and pop-up

Apr 11, 2025By Lee Gyu-lee
Naver and Kakao’s favorite characters to collaborate
Tech & Science

Kakao's struggle deepens over unit selloff rumors

Kakao’s efforts to streamline its sprawling business portfolio are facing headwinds, as a mix of rumors and facts surrounding the platform giant’s possible divestment of affiliates is sending negative signals to the market. According to industry officials on Friday, Kakao Entertainment co-CEOs Kweon Ki-su and Joseph Chang recently told the company’s employees that reports alleging Kakao is planning to sell the entertainment unit are “misrepresented.” “Kakao was in discussions over changes in Kakao Entertainment’s shareholding structure of its financial investors, and we believe that details from the process were misrepresented,” the CEOs said. Earlier this week, local news outlets reported that Kakao sent letters to major shareholders of Kakao Entertainment, including Anchor Equity Partners, a Hong Kong-based private equity firm, and Chinese company Tencent, expressing its intention to sell its stake in the subsidiary. Kakao, which holds a 66 percent stake in Kakao Entertainment, has been seeking to list the entertainment unit since 2019 but faced skepticism that the init

Apr 11, 2025By Lee Gyu-lee
Kakao's struggle deepens over unit selloff rumors
Companies

Eastar Jet rolls out preorder vegetarian, Halal in-flight meals

Korean budget airline Eastar Jet is expanding its in-flight meal options to better serve global travelers, introducing preorder vegetarian dishes and halal-certified instant noodles for Muslim passengers. The new offerings include a ragout meatball penne pasta made with plant-based meat and a hoagie sandwich packed with fresh vegetables and a carrot ravigote — both aimed at vegetarian passengers seeking meat-free alternatives during international flights. In a nod to religious dietary needs, Eastar Jet has also launched chicken-flavored halal ramen. The airline said the product reflects the religious profile of Kazakhstan, where over 70 percent of the population is Muslim. Eastar Jet began operating two flights per week to Almaty, Kazakhstan, on Monday. The move marks the first time a Korean low-cost carrier has introduced halal food options, the company said. Passengers on international routes can preorder the meals up to 72 hours before departure. “Our goal is to offer more inclusive meal options for diverse travelers,” an Eastar Jet spokesperson said. “We’re committed to deve

Apr 11, 2025By Kim Hyun-bin
Eastar Jet rolls out preorder vegetarian, Halal in-flight meals
Companies

New device chief calls for 'one Samsung' amid wavering over in-house chips

Roh Tae-moon, Samsung Electronics’ new head of its mobile and home appliance division, stressed “one Samsung” as a company motto in his first official message to employees Friday, amid the tech giant’s wavering over the use of in-house chips for Galaxy smartphones. Roh sent an email to the company’s Device Experience (DX) division staffers and stressed the need for “organic cooperation across business divisions” in creating greater values, according to sources. “Let’s work beyond organizational boundaries and combine our strengths,” Roh said. “Under the motto of one Samsung, we should pursue organic cooperation across business divisions.” Samsung Electronics is comprised of the DX division, which encompasses home appliances and smartphone sub-divisions, and the Device Solution (DS) division, which is in charge of semiconductor and memory chips. Roh, who is the president of the smartphone division, became the acting head of the DX division on April 1, following the death of Han Jong-hee, former Samsung Electronics CEO, vice chairman and head of the DX division. “O

Apr 11, 2025By Nam Hyun-woo
New device chief calls for 'one Samsung' amid wavering over in-house chips
Banking & Finance

Korean credit card firms expand services for foreign customers

Credit card companies are ramping up efforts to attract foreign customers in response to their growing presence and economic influence, industry officials said Friday. Among the latest developments is Shinhan Card’s Trip.PASS, a dedicated platform introduced last month. The service is designed to provide one-stop solutions — from identity verification to payment processing — tailored to the needs of foreign residents and tourists in Korea. Through a verification process, Trip.PASS allows users to create a mobile passport, enabling access to duty-free shops and tax refund services without the need for a physical ID. The platform also supports mobile payments, offers remittance services in Korean won, and links to two types of prepaid cards. Other card issuers are also entering the space. Lotte Card is collaborating with the Seoul Metropolitan Government to develop specialized tourism products and expand joint marketing initiatives targeting international visitors. Woori Card has taken a similar step, launching domestic travel programs specifically designed for foreign customers thro

Apr 11, 2025By Lee Yeon-woo
Korean credit card firms expand services for foreign customers
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