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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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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

Krafton CEO meets Nvidia's Jensen Huang for robotics AI cooperation

Krafton CEO Kim Chang-han met Nvidia CEO Jensen Huang to discuss their future collaboration in artificial intelligence (AI) and gaming technologies, the game studio said Friday. According to a Krafton social media post, Kim met Huang Thursday (local time) at Nvidia’s headquarters in Santa Clara, California, where the two discussed ideas for collaboration. The two leaders exchanged thoughts about the future direction of their technological cooperation, including topics such as driving innovations in game development through agentic AI and exploring the potential to expand into robotics, such as humanoids powered by embodied AI, Krafton said. Agentic AI is a system that can make autonomous decisions, pursue goals and take actions without human involvement. Embodied AI refers to AI systems that interact with the real world through physical bodies. “I’m thrilled that our collaboration with Nvidia on on-device AI has led to the launch of the first meaningful product in gaming AI,” Kim said, referring to the two companies’ existing partnership on a co-playable character (CPC) powered

Apr 11, 2025By Nam Hyun-woo
Krafton CEO meets Nvidia's Jensen Huang for robotics AI cooperation
Companies

Starbucks to launch its first kiosks in Seoul next month

Starbucks Korea will introduce self-service kiosks in May, breaking with the company’s long-held principle of in-person ordering, according to a report Thursday by the Kukmin Ilbo. The pilot location will open in Myeong-dong, a bustling commercial district in Seoul popular with tourists, marking the global coffee chain’s first such store in Korea. The move highlights a shift in priorities for Starbucks, which has long emphasized personalized customer interaction. The introduction of kiosks, however, reflects a growing focus on operational efficiency and customer convenience amid high foot traffic and evolving consumer behavior. According to the report, Starbucks Korea plans to install self-service kiosks at its Myeong-dong location to streamline operations and alleviate congestion during peak hours. While the idea has been under review since late last year, the launch was delayed due to the brand’s extensive customization options and complex menu offerings. Following the pilot, Starbucks Korea is considering expanding kiosks to other areas with high traffic or where language barrie

Apr 11, 2025By KTimes
Starbucks to launch its first kiosks in Seoul next month
Companies

Seoul’s first IKEA store gets out of signature ‘blue box’

Swedish home furnishing giant IKEA will open its first Seoul store next week, giving up the brand’s signature “blue box” architecture to localize it inside a new business complex in the city’s easternmost district. Located inside Godeok Biz Valley in Gangdong District, the fifth IKEA store in Korea is nestled inside the mega business and shopping complex, drawing interest from local residents. Gangdong is the fourth largest district in Seoul, with a population over 490,000 and new subway lines under development. The two-story, 25,000-square-meter store showcases 7,400 items, of which half are available for immediate pickup. IKEA Korea said the items will “help solve home furnishing for residences including a 66-square-meter apartment suite that accounts for many residences in the district.” The company said the store created 200 new jobs, 43 percent of which are filled by Gangdong residents. It added it chose Gangdong because of its convenient access to highways and public transportation. Isabel Puig, president of IKEA Korea and chief sustainability officer, called the store

Apr 11, 2025By Ko Dong-hwan
Seoul’s first IKEA store gets out of signature ‘blue box’
Business

Trump says US may buy 'top-of-the-line' ships from 'close' countries

U.S. President Donald Trump said Thursday that the United States may purchase advanced ships from "close" countries, as he reaffirmed his commitment to rebuilding America's shipbuilding industry. Trump made the remarks during a Cabinet meeting as the shipbuilding industry has emerged as a key area of cooperation between Korea and the U.S. amid concerns that China's shipbuilding capacity has overwhelmingly grown compared with that of the U.S. "We are going to be rebuilding our shipbuilding business. We may order ... would have to go to 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 for us in the not-too-distant future, but in the meantime, we have countries that do very well at building ships, and we'll be dealing with those countries, and we may be ordering top-of-the-line ships from those countries," he added. Trump made the remarks after Natio

Apr 11, 2025By Yonhap
Trump says US may buy 'top-of-the-line' ships from 'close' countries
Companies

Korea’s political divide spills into food franchise industry

Jadam Chicken’s headquarters recently apologized to customers after one of its franchisees in Incheon displayed a politically charged message on an electronic signboard outside the store on April 4 — the day of former President Yoon Suk Yeol’s impeachment ruling. The message read: “The respondent, President Yoon Suk Yeol, is hereby removed from office. Thank you, my fellow citizens.” The company emphasized that the franchisee’s actions do not reflect its official stance, adding that an executive visited the location on Monday to issue a warning to the owner. The franchisee also issued a public apology. “I sincerely apologize for causing a controversy with politically inappropriate comments in front of my store,” he wrote on the same signboard. The apologies came amid growing consumer backlash and boycott threats against the fried chicken brand. Supporters of Yoon began flooding review platforms with negative ratings, calling the store “the worst,” while those who supported impeachment praised the message. Jadam Chicken said that repeated incidents could lead to contract

Apr 11, 2025By Park Jae-hyuk
Korea’s political divide spills into food franchise industry
Companies

Strengthening dollar, yen weigh on Korean aviation players

Korean airlines are facing a potential double whammy from the strengthening U.S. dollar and Japanese yen, as the macroeconomic uncertainty leaves them more vulnerable to risks on increased fuel costs and a decline in travel demand, data and market analysts said Thursday. The exchange rate volatility was triggered by U.S. President Donald Trump’s wayward trade policy. With his tariff threat creating serious repercussions around the world, investors’ preference for the dollar has shown no signs of abating in recent months. Reflecting on the escalating geopolitical uncertainty, the dollar is strengthening its valuation against the Korean won much faster than expected, as evidenced by the recent surge in the won-dollar exchange rate. The figure closed at 1,484.1 won per dollar on Wednesday, the highest closing price since March 2009. The dollar closed at 1,478.33 won on Dec. 31, 2024. This comes as a challenge to Korean Air and a group of low-cost carriers (LCCs), which will have to increase their spending for fuel costs paid in dollars. Of particular concern is that there is no clear s

Apr 11, 2025By Lee Min-hyung
Strengthening dollar, yen weigh on Korean aviation players
Tech & Science

Korea forms K-Humanoid Alliance

The global race to develop humanoid robots is heating up like never before, especially with the rapid advancements in artificial intelligence advancing the technology. Amid the fierce competition, the Ministry of Trade, Industry and Energy launched the K-Humanoid Alliance, Thursday, bringing together leading robotics experts, scholars and companies. The alliance is expected to attract over 1 trillion won ($685.12 million) in investments by 2030. “We are now entering a wave of AI innovation going beyond generative AI into physical concept. (Global) Big Tech companies have fully entered the humanoid competition, which is becoming the next AI battlefield … This industry is directly connected to the future competitiveness in the manufacturing industry, so it’s a crucial opportunity for our economic growth,” Industry Minister Ahn Duk-geun said in his opening remarks at the alliance’s launching ceremony in Seoul, Thursday. “Fortunately, we possess a strong manufacturing portfolio that is essential for humanoids … While our companies and talent are already demonstrating excellenc

Apr 10, 2025By Lee Gyu-lee
Korea forms K-Humanoid Alliance
Banking & Finance

INTERVIEW Fintech CEO enhances tourists' financial experience in Korea with WOWPASS

Korea can be a fun destination for travelers. In 2024, its food, nightlife, attractions and K-pop culture attracted about 16.3 million travelers. Their financial experience, though? Well, not so fun. While Koreans routinely use mobile payments and a variety of credit or debit cards, the country's payment system isn't as accommodating to foreign travelers. Without a Korean phone number and credit card, it’s difficult for visitors to use essential services like delivery and taxi apps. "Foreign travelers hope to experience the authentic Korean lifestyle as they've seen in K-dramas. However, their experiences can be filled with inconveniences," Lee Jang-back, CEO of Orange Square, said in a recent interview with The Korea Times. "Everything is so convenient and comfortable here that Koreans often don’t realize the barriers." To enhance foreign travelers’ financial experience, Lee launched a service called WOWPASS in 2022. At 274 machines nationwide, foreign travelers can scan their passports to receive physical cards that work at most Korean stores, including public transportation. Tra

Apr 10, 2025By Lee Yeon-woo
[INTERVIEW] Fintech CEO enhances tourists' financial experience in Korea with WOWPASS
Companies

US tariff pause offers temporary reprieve to Korean economy

Korea bought time to negotiate on U.S. tariffs, as President Donald Trump on Wednesday (local time) suspended "reciprocal" tariffs on dozens of countries, including Korea, for 90 days. However, risks to the Korean economy still remain amid escalating retaliatory measures by the U.S. and China against each other, with the U.S. levies on China, Korea’s largest trading partner, amounting to 125 percent. In a social media post, Trump said more than 75 countries have reached out to the U.S. for tariff negotiations and he “authorized a 90 day PAUSE and a substantially lowered Reciprocal Tariffs during this period of 10 percent.” At the same time, he increased duties on China to 125 percent following Beijing's retaliatory move. Korea was initially faced with a 25 percent reciprocal tariff, which took effect on Wednesday. To defy the impacts on its export-reliant economy, the Korean government has been striving to engage with the U.S., with Seoul’s Minister of Trade Cheong In-kyo meeting U.S. Trade Representative Jamieson Greer in Washington Tuesday (local time). “The latest reprieve ca

Apr 10, 2025By Nam Hyun-woo
US tariff pause offers temporary reprieve to Korean economy
Banking & Finance

KB, Shinhan, Hana hit by economic downturn in Southeast Asia amid Trump tariff uncertainties

Major Korean banks are facing growing uncertainties over their businesses in Southeast Asia as the region has been weighed down by years of stagnant economy and worsening financial market soundness amid U.S. President Donald Trump's global tariff war, market watchers said Thursday. Four major commercial lenders — KB Kookmin, Shinhan, Hana and Woori — have a combined 26 percent of overseas business exposure in Southeast Asia. Vietnam and Indonesia top the list with 7.1 percent exposures each, followed by Singapore at 6.7 percent and Cambodia at 4.7 percent. Over the past decade, the number of their combined branches increased to 65, up 2.5-fold from 25. Their combined assets are also said to have surged by more than six times. On Wednesday (local time) Trump paused his threatened "reciprocal" tariffs against most countries for 90 days. “The Trump tariff policies have been delayed, but the last-minute measure is far from a guarantee of stable business conditions in the weeks or months to come,” a KB Kookmin official said. The implementation of the high tariffs against the region will

Apr 10, 2025By Lee Kyung-min
KB, Shinhan, Hana hit by economic downturn in Southeast Asia amid Trump tariff uncertainties
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