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    Intralink Korea GM sees new era of UK-Korea tech collaboration

    U.K.-Korea business ties are moving beyond traditional trade and investment toward deeper cooperation in advanced technologies, from artificial intelligence (AI) and quantum computing to semiconductors, batteries and biotechnology, according to the Korea head of business consultancy Intralink. Kim Na-rai, managing director of Intralink Korea, said the complementary strengths of the two countries could create new opportunities as Korean companies increasingly seek cutting-edge technologies and partnerships overseas. “The biggest opportunity lies in how fast Korean conglomerates are seeking external technologies and fresh ideas,” Kim said in a recent written interview with The Korea Times. The U.K.-headquartered consultancy firm, which has operated in Korea since 2009, helps overseas tech companies enter the domestic market through local business development and partnerships. The company won the U.K.-Korea Trade Award at the British Chamber of Commerce in Korea’s (BCCK) 2026 Business Awards in June for helping British tech companies navigate the Korean market and secure deals worth m

    2 MIN READBy Lee Gyu-lee
    Intralink Korea GM sees new era of UK-Korea tech collaboration
  • Companies

    LG Innotek supplies camera modules for Zoox robotaxis

    2 MIN READBy Nam Hyun-woo
    LG Innotek supplies camera modules for Zoox robotaxis
  • Tech & Science

    Korea delegation attends inauguration ceremony of ATLAS initiative

    1 MIN READBy Yonhap
    Korea delegation attends inauguration ceremony of ATLAS initiative
  • Companies

    LG CNS turns to liquid cooling as AI servers push data centers to the limit

    2 MIN READBy Lee Kyung-min
    LG CNS turns to liquid cooling as AI servers push data centers to the limit
  • Companies

    Krafton unveils 5 new games at Gamescom 2026

    1 MIN READBy Lee Kyung-min
    Krafton unveils 5 new games at Gamescom 2026
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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

KB Financial chief vows to turn 'money move' into opportunities

KB Financial Group Chairman Yang Jong-hee said the current money move could provide an opportunity to strengthen the group's competitiveness in wealth and asset management, the group said Sunday. He also called on executives to reassess their work processes and redesign the ways tasks are carried out using artificial intelligence. His remarks came during the group's executive workshop for the second half of 2026, held from Friday to Saturday in Sacheon, South Gyeongsang Province. The workshop was organized to refine KB's medium- to long-term growth strategy for 2027 through 2029 amid rapid changes in financial markets and intensifying competition. It also aimed to strengthen the group's future competitiveness through closer collaboration among its affiliates. A total of 270 executives attended. KB Financial Group outlined five priorities: revamping its wealth management business models; strengthening services for small and medium-sized companies; improving group-wide collaboration in corporate and investment banking and capital markets; upgrading its insurance and investment capabilities;

Jul 12, 2026By Lee Yeon-woo
KB Financial chief vows to turn 'money move' into opportunities
Companies

PHOTO Lotte Mart Tay Ninh opens

Lotte Mart's Tay Ninh store in Vietnam is bustling with costumers during its opening day on Thursday (local time). The two-story store, Lotte Mart's first location in the country in three years, features dedicated zones for Korean food, K-beauty products and globally sourced goods. Lotte Mart’s Vietnamese subsidiary began making profits in 2022 and has been seeing year-on-year growth each year since. It posted first quarter sales of 134 billion won ($89 million) and operating profit of 17 billion won. Courtesy of Lotte Mart

Jul 12, 2026By Ko Dong-hwanphoto
[PHOTO] Lotte Mart Tay Ninh opens
Companies

POSCO, KB Kookmin Bank make banking easier for partner firms

Steelmaker POSCO has forged a partnership with KB Kookmin Bank to introduce a supply chain finance service for its partner firms, helping improve cash flow for suppliers amid a prolonged downturn in the steel industry. POSCO President Lee Hee-keun and KB CEO Lee Hwan-ju signed a memorandum of understanding (MOU) on Thursday at the steelmaker's office in Seoul. The new service is a financial system that connects financial institutions with companies participating in a supply chain from production to distribution to increase liquidity throughout the supply chain. It is designed as a win-win model that helps the cash flow of client companies that face difficulties in preparing funds due to delays in payments or a lack of collateral. Under the MOU, POSCO, its client companies and KB will be linked in a structure where the bank takes full charge of collecting sales payments and provides clients with both financial and nonfinancial services, including corporate loan support and environmental, social and governance consulting. The two companies will begin developing a system that integrates KB

Jul 12, 2026By Ko Dong-hwan
POSCO, KB Kookmin Bank make banking easier for partner firms
Banking & Finance

Korea Eximbank partners with Mongolia to boost Korean consumer goods exports

The Export-Import Bank of Korea (Korea Eximbank) signed a memorandum of understanding with Mongolia's Trade and Development Bank (TDB) to provide a $30 million on-lending facility aimed at boosting exports of Korean consumer goods, the state-run lender said Sunday. Under the arrangement, Korea Eximbank will extend financing to TDB, which will then lend the funds to local importers purchasing Korean products. The indirect financing scheme is intended to improve access to trade finance while supporting bilateral commerce. The agreement comes as demand for Korean consumer goods and K-culture continues to grow in Mongolia. TDB, which operates more than 90 branches nationwide, serves a broad base of importers of Korean food, beverages, cosmetics and other products. The facility marks Korea Eximbank's first on-lending program for Mongolia since the country's 2017 foreign exchange crisis. The lender said it expects the program to help Korean exporters expand their presence in the market while easing funding constraints for companies already operating there. Leveraging TDB's nationwide network,

Jul 12, 2026By Park Han-sol
Korea Eximbank partners with Mongolia to boost Korean consumer goods exports
Companies

SK hynix dollar inflow expected to bolster Korea's FX market

SK hynix Inc. is expected to inject a large amount of U.S. dollars into Korea's foreign exchange market after raising about 40 trillion won ($26.5 billion) through an American depositary receipt (ADR) offering on Nasdaq, industry sources said Sunday. The proceeds from the U.S. listing are scheduled to be paid to the company Monday. Given that SK hynix plans to use most of the funds for domestic investments, including the Yongin semiconductor cluster, much of the dollar-denominated proceeds is expected to be converted into the won, increasing the supply of dollars in the local foreign exchange market. The inflow is expected to ease pressure on the Korean won, which has remained weak against the dollar amid broad dollar strength and rising overseas investment by Korean companies, according to the sources. "The size and timing of the foreign exchange transactions have yet to be determined," an SK hynix official said. Market experts said the expected inflow is comparable in scale to the dollar liquidity supplied under the $60 billion currency swap deal between the Bank of Korea and the U.S. F

Jul 12, 2026By Yonhap
SK hynix dollar inflow expected to bolster Korea's FX market
Companies

Samsung Electronics to bring forward opening of 1st Yongin chip plant to 2029

Samsung Electronics Co. is moving to begin operations at the first semiconductor fabrication plant in its Yongin chip cluster in 2029, one to two years earlier than planned, industry sources said Sunday. The accelerated timeline comes as the government speeds up development of the Yongin National Industrial Complex, a national strategic project set to serve as the company's next-generation semiconductor manufacturing hub. Samsung is currently planning to begin operations in 2029 at the first of six semiconductor plants to be built at the Yongin industrial complex, just south of Seoul, according to the sources. "An earlier start of operations at the first plant will enable Samsung to respond more quickly to rapidly growing global demand for artificial intelligence chips," an industry official said. Separately, the chipmaker said last month that, under its mega project investment plan, it plans to invest 2,030 trillion won ($1.35 trillion) in its Pyeongtaek and Yongin semiconductor clusters, along with 400 trillion won to build two new chip plants in Gwangju, 270 kilometers south of Seoul.

Jul 12, 2026By Yonhap
Samsung Electronics to bring forward opening of 1st Yongin chip plant to 2029
Tech & Science

D4D Hackathon lays foundation for defense AI ecosystem in APAC

Deploy for Defense (D4D) Hackathon APAC successfully completed its inaugural event in Seoul, laying the foundation for a defense artificial intelligence (AI) ecosystem in the region. According to D4D, Sunday, it hosted the hackathon event from July 3-5, with more than 200 builders and officials from academia and defense AI companies including Palantir Technologies, Stealth Mole and BONE AI. The event awarded eight teams across five tracks. A team from BONE AI won the autonomous and unmanned systems track. Teams DoS and ANGAE won in the defense intelligence category, while DELPHI, SEASIDE and Nyx were recognized in battlefield networks, maritime domain awareness and combat readiness, respectively. Supporty and Kestrel also received special awards linked to an Oregon-based UAS accelerator program in the United States. Organizations from Oregon are scheduled to visit Korea on July 14 to sign a memorandum of understanding, marking the first case in Korea in which a domestic hackathon resulted in a direct U.S. market entry. “Korea's defense industry has long been defined by the export succe

Jul 12, 2026By Nam Hyun-woo
D4D Hackathon lays foundation for defense AI ecosystem in APAC
Business

Eco-friendly cars account for half of new car registrations in H1

Eco-friendly vehicles accounted for half of new car registrations in Korea in the first half of this year, driven by a sharp increase in electric vehicle (EV) sales, an auto market tracker said Sunday. It marked the first time that eco-friendly vehicles made up more than half of new car registrations during the January-June period, according to the CarIsYou Data Research Center, which cited government data. In the first six months of the year, registrations of eco-friendly vehicles — including battery electric, gasoline hybrid and hydrogen fuel-cell models — totaled 429,163 units, accounting for 50.4 percent of the 851,833 newly registered vehicles, the data showed. The share of eco-friendly vehicles has risen steadily, from 9.1 percent in 2020 to 25.5 percent in 2023 and 38.5 percent in 2025. Meanwhile, the share of gasoline-powered vehicles fell to 39 percent in the first half, dropping below the 40 percent mark for the first time since 2016, when the figure stood at 39.9 percent. Robust EV sales drove the overall increase in eco-friendly vehicle registrations. EV registrations surge

Jul 12, 2026By Yonhap
Eco-friendly cars account for half of new car registrations in H1
Companies

SK hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy

NEW YORK — Shares of Korean memory chipmaker SK hynix rose 12.8 percent as they made their debut on Wall Street, at a time demand for chips is surging thanks to the frenzy around artificial intelligence. The company is already one of the largest in Korea, along with Samsung Electronics, and is a member of the Kospi index. Even with a recent pullback, the country's Kospi index is up 77 percent so far this year and SK hynix shares have more than tripled. SK hynix priced its American depositary receipts, or ADRs, at $149 each Thursday. They opened Friday at $170 and closed at $168.01. The offering of 177.9 million ADRs raised proceeds of $26.5 billion, making it the biggest-ever initial share sale in the U.S. by a foreign company. An ADR is issued by a bank or broker and is a simplified way for U.S. investors to own foreign stocks through the U.S. markets. SK hynix is going public in the U.S. amid a surge in IPO proceeds. There were 48 IPOs raising a total of $104.8 billion during the second quarter, according to Renaissance Capital. It is the biggest quarter for deal proceeds in five ye

Jul 11, 2026By AP
SK hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy
Companies

Nasdaq debut 'historical moment,' expects huge AI investment

WASHINGTON -- SK Group Chairman Chey Tae-won said Friday that South Korean chip giant SK hynix's debut on the tech-heavy Nasdaq is a "historical moment" and a "dream come true," expressing his expectation for the group's large-scale investment in the artificial intelligence (AI) sector. Chey made the remarks during a CNBC interview after the chipmaker made its Nasdaq debut through the listing of its American depositary receipts. "First of all, this is a truly historical moment, and we've been waiting for a long, long time," he said. "SK acquired hynix 15 years ago. So it's kind of a dream come true." Aside from memory chip production, Chey pointed out his expectations for his conglomerate's investments in the broader AI industry. "I am expecting at least ... tens of billions of dollars for the AI side," he said. "We are talking about just memory chips, but I am looking at large investments in AI, AI data centers, technologies and startups, or joint ventures with my partners," he said. "I'm expecting huge investments sooner or later." He stressed that the Nasdaq debut will give SK hynix a n

Jul 11, 2026By Yonhap
Nasdaq debut 'historical moment,' expects huge AI investment
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