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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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Banking & Finance

Regulator to ease rules on IBs for more active role in corporate financing

The financial regulator said Wednesday that it will revamp rules on investment banks (IBs) in order to encourage them to increase investments in smaller firms and risky but profitable assets. According to the Financial Services Commission (FSC), IBs will be able to be actively involved in corporate restructuring and increase their exposure to smaller firms under eased regulations on credit line ceiling. The FSC said IBs with capital base of 4 trillion won ($ 2.69 billion) or more will be required to invest 25 percent of capital raised via commercial bill issuance in risky but profitable assets, such as low-rated firms and high-yield funds. In contrast, their ceiling of investments funded through the sale of commercial bills in real estate will be gradually cut to 15 percent in 2026 and 10 percent the following year, from the current 30 percent. The measures come as local IBs are largely focused on safe, low-yielding investments, such as real estate and others, according to the FSC. The FSC said it will also assign IB licenses to more players by easing related regulations this year. Details

Apr 9, 2025By Yonhap
Regulator to ease rules on IBs for more active role in corporate financing
Companies

Fines on financial firms tripled in Korea last year

Fines imposed on financial companies by Korea's financial regulator nearly tripled in 2024 from a year earlier, a corporate data tracker said Wednesday. The Financial Supervisory Service (FSS) imposed fines totaling 43.92 billion won ($29.3 million) on local financial firms last year, jumping from 15.27 billion won a year ago, according to CEO Score. By sector, commercial banks topped other business categories with a combined fine of 8.14 billion won, followed by life insurers with 7.67 billion won and asset management firms with 5.79 billion won, the data showed. Viva Republica Inc., which operates the internet-only Toss Bank, ranked first with a 6 billion-won fine for using transaction information for its business analysis without approval from electronic receipt providers and collecting personal information in its membership registration process. The National Credit Union Federation of Korea ranked second with a fine of 2.99 billion won, followed by Samsung Life Insurance with 2.47 billion won and iM Bank with 2 billion won, it said. (Yonhap)

Apr 9, 2025By Yonhap
Fines on financial firms tripled in Korea last year
Tech & Science

Korea launches research on maglev propulsion tech for envisioned Hypertube train

Korea has initiated a new research project aimed at developing magnetic levitation propulsion technology for an envisioned next-generation high-speed train system called the Hypertube, the government said Wednesday. The Ministry of Land, Infrastructure and Transport, in partnership with the Korea Railroad Research Institute, is spearheading the project. The Hypertube system is designed to use magnetic forces to levitate and propel a train through a low-pressure tube to dramatically reduce travel time. At full speed, the Hypertube could theoretically reduce the travel time between Seoul and Busan, a distance of roughly 320 kilometers, to just 16 minutes and 15 seconds, or about one-seventh of the time it currently takes by the KTX high-speed train. The research will focus on core technologies, such as electromagnet propulsion systems, precision control mechanisms and a high-speed transport body. The project is scheduled to run through 2027, with a total budget of 12.7 billion won ($8.54 million), including 3.68 billion won in 2025, according to the ministry. (Yonhap)

Apr 9, 2025By Yonhap
Korea launches research on maglev propulsion tech for envisioned Hypertube train
Companies

Amazon Web Services to hold tech conference in Seoul in May

Amazon Web Services (AWS) said Wednesday it will hold its global tech conference in Seoul next month. The AWS Summit Seoul 2025 will be held May 14-15 at COEX in southern Seoul and bring together business leaders, government officials, developers and customers to explore the latest trends in artificial intelligence (AI) and cloud computing, according to AWS. Vasi Philomin, vice president of the AWS AI team, will deliver a keynote, while Samsung Electronics and LG Electronics are set to showcase their technologies at the event. HL Robotics, Doosan Robotics and GS Retail will also participate in the AWS event. (Yonhap)

Apr 9, 2025By Yonhap
Amazon Web Services to hold tech conference in Seoul in May
Companies

Korea to provide $2 bil. emergency fund for carmakers to help mitigate US tariff shock

Korea has decided to provide an emergency fund worth 3 trillion won ($2.04 billion) for the local automotive exporters to mitigate the fallout from the latest U.S. tariff imposition, the government said Wednesday. A policy fund of 2 trillion won will be injected to support the overall car industry. The government is considering offering more financial aid in line with potential losses caused by the tariffs. The government will also team up with private financial institutions to launch a co-prosperity program worth 1 trillion won for Hyundai Motor and Kia — two carmakers that will be hit hardest by the U.S.' 25 percent tariff on all car imports. The ongoing trade pressure from the world’s largest economy raises calls for carmakers to offset their possible export fall by increasing domestic sales. In response, the government decided to extend a timeline for a special incentive to electric vehicles (EVs). It introduced the program to offer EV subsidies in proportion to carmakers’ discounts on their EVs. The program was scheduled to conclude in the first half of this year but has been

Apr 9, 2025By Lee Min-hyung
Korea to provide $2 bil. emergency fund for carmakers to help mitigate US tariff shock
Companies

Political instability makes Korea less attractive to US firms: survey

Political turmoil caused by former President Yoon Suk Yeol’s declaration of martial law last December and the resulting impeachment trial was cited as one of the biggest risks to the business environment for U.S. firms in Korea, prompting more of them to rate the current environment as “below average” or “bad.” A recent survey by the American Chamber of Commerce in Korea (AMCHAM) showed Tuesday that 25 percent of respondents identified political instability as the greatest risk to doing business here. In comparison, 6.4 percent pointed to the ongoing doctors' strike and health care policy. Those two concerns were not mentioned in the previous year's survey, unlike other frequently cited issues such as an unpredictable regulatory environment, economic slowdown, labor policy and global supply chain disruptions. The proportion of respondents who rated Korea’s current business environment as “below average” surged to 40.6 percent in 2024, up from 22.5 percent the previous year. Those rating it as “bad” also rose to 4.7 percent from 2.8 percent. In contrast to the governme

Apr 8, 2025By Park Jae-hyuk
Political instability makes Korea less attractive to US firms: survey
Companies

SK Group considers selling chip wafer subsidiary SK Siltron: sources

SK Group is considering selling a controlling stake in its semiconductor wafer subsidiary SK Siltron as part of a restructuring plan of the group's key businesses, according to industry sources Tuesday. According to the sources, SK Inc., the group's holding company, has been in contact with various private equity funds to explore the potential sale of a controlling share of the subsidiary, which SK purchased from LG Group in 2017. The amount of share under consideration is reportedly at 70.6 percent, including the 51 percent share owned by SK Inc. and a 19.6 percent share tied to a total return swap (TRS) contract. SK Siltron is Korea's sole dedicated producer of semiconductor wafers, a key material used in chip manufacturing. The company ranks third globally in terms of market share for 12-inch wafers. Market analysts estimate SK Siltron's valuation at around 5 trillion won ($3.38 billion). "Various options are being reviewed as part of our rebalancing efforts, but nothing has been finalized," an SK official said. SK Group has been undertaking aggressive restructuring since last year to o

Apr 8, 2025By Yonhap
SK Group considers selling chip wafer subsidiary SK Siltron: sources
Tech & Science

Korea shows sluggish progress in AI development

Korea has been stagnating in artificial intelligence (AI) development at a time when the global AI race is heating up. In contrast, China is making remarkable strides to rapidly close the gap with the United States. According to this year’s annual AI Index Report by Stanford University's Institute for Human-Centered Artificial Intelligence, Korea's global private investment in AI recorded $1.33 billion last year, placing it 11th globally — behind countries such as the United States, China, Sweden and Austria. This marks a drop of two spots from the previous year when Korea ranked ninth with $1.39 billion. The U.S. recorded $109.08 billion in total private investment in AI — a more than 60 percent increase from the previous year's $67.2 billion. This figure is 11.7 times greater than that of the second-highest country, China, which invested $9.3 billion, up from $7.76 billion the year before. The report showed a growing outflow of AI talent from Korea, with net AI talent migration per 10,000 LinkedIn members rising to 1.51 in 2024, up from 0.41 the previous year. The data suggests

Apr 8, 2025By Lee Gyu-lee
Korea shows sluggish progress in AI development
Companies

IFEZ attracts over $300 mil. in foreign direct investment in Q1

The Incheon Free Economic Zone (IFEZ) has collected $309.61 million in foreign direct investment (FDI) for the first quarter, surpassing half of its annual target of $600 million. This marks the second-highest performance in the first quarter since the special economic district was established in 2003. Already accumulating 51.6 percent of the annual target in the first quarter, the district has high expectations to exceed the target for the second consecutive year. The IFEZ’s achievement is more meaningful amid the heightened tension in global trade and disturbances from domestic and international political turmoil. Its cumulative FDI has surpassed $15.806 billion as of the quarter. When IFEZ Commissioner Yoon Won-seok was appointed last year, he raised the target for FDI from $400 million to $600 million and put in aggressive efforts to attract cross-border investments. As a result, last year's FDI reached $605.84 million. "In order to attract and develop foreign investment, bold tax reforms and customized incentives such as cash support are necessary. The IFEZ will proactively offer

Apr 8, 2025By Lee Gyu-lee
IFEZ attracts over $300 mil. in foreign direct investment in Q1
Companies

LG Innotek partners with Intel for AI inspection solution

LG Innotek will partner with Intel in smart factories by implementing the latter’s artificial intelligence (AI)-powered vision inspection solution across its entire production lines to reduce defect rates, both companies said Tuesday. The AI-driven vision inspection will enable LG Innotek to drastically reduce defect rates by replacing traditional works performed by human inspectors. The solution is based on Intel’s iGPU, or integrated graphics processing unit. The latest partnership will boost LG Innotek’s ongoing drive to transform its manufacturing facilities into smart factories with cutting-edge technologies. LG Innotek plans to develop AI learning models by utilizing the Intel solution and increase inspection accuracy to nearly 100 percent. The time required for AI learning is also projected to fall 1.5 times by using the solution, according to LG Innotek. The LG affiliate introduced Intel’s AI vision inspection solution to its mobile camera module production line last year for the first time. The company plans to expand its application to other production lines in Gumi, No

Apr 8, 2025By Lee Min-hyung
LG Innotek partners with Intel for AI inspection solution
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