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  • Tech & Science

    Hyosung launches hyperscale AI data center in Seoul

    Hyosung Group is expanding its push into artificial intelligence (AI) infrastructure with the launch of a hyperscale data center in Seoul, marking its entry into Korea’s fast-growing data center market. The company announced Wednesday that Hyosung-STT GDC, a joint venture between Hyosung Heavy Industries and Singapore-based operator ST Telemedia Global Data Centres (STT GDC), opened STT Seoul 1, a 30-megawatt data center, in Geumcheon District, Seoul, the previous day. Designed to support cloud and AI workloads, the new facility combines Hyosung’s power infrastructure expertise with STT GDC's global standards in data center design, operation and service management. The facility is capable of accommodating increasingly power-intensive and high-density computing environments driven by generative AI applications. The company explained that one of the center's biggest advantages is its location in Seoul, where securing large-scale power capacity has become increasingly difficult due to energy regulations and grid constraints, providing low-latency connectivity to major business districts

    2 MIN READBy Lee Gyu-lee
    Hyosung launches hyperscale AI data center in Seoul
  • Companies

    Samsung Display showcases next-generation XR displays at AWE USA

    2 MIN READBy Nam Hyun-woo
    Samsung Display showcases next-generation XR displays at AWE USA
  • Companies

    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids

    2 MIN READBy Lee Min-hyung
    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids
  • Banking & Finance

    AI-generated complaints create new headaches for insurers

    3 MIN READBy Park Han-sol
    AI-generated complaints create new headaches for insurers
  • Tech & Science

    SK hynix ships 12-high HBM4E samples to customers

    2 MIN READBy Nam Hyun-woo
    SK hynix ships 12-high HBM4E samples to customers
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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

Shinsegae chief disgraced by scrapped OpenAI partnership, delayed merger of affiliates

Doubts are growing about Shinsegae Group Chairman Chung Yong-jin’s ability to lead the retail giant, as the group has suffered setbacks in major projects, including the deployment of artificial intelligence (AI) in its businesses and the merger of affiliates. Last month, Shinsegae Group baffled the market by abruptly canceling its partnership with OpenAI just 11 days after signing a memorandum of understanding with the developer of ChatGPT. Instead, the Korean conglomerate partnered with Reflection AI, another U.S. AI company, citing a “selection and concentration” strategy. Amid mounting criticism of Shinsegae Group’s hasty decision-making and its lack of thorough technological review, the reversal led to the removal of Shinsegae Property CEO Lim Young-lock from his concurrent post as the group’s chief strategy officer. Lim had signed the agreement with OpenAI Korea Country Manager Kim Kyung-hoon on April 6 for the joint development of an AI-powered e-commerce model with advanced customization features. Although Shinsegae Group said the personnel change was necessary to allow

May 4, 2026By Park Jae-hyuk
Shinsegae chief disgraced by scrapped OpenAI partnership, delayed merger of affiliates
Banking & Finance

Korea Eximbank sets up $500 mil. critical minerals supply chain alliance with ADB

The Export-Import Bank of Korea (Korea Eximbank) has signed a $500 million (735 billion won) financing agreement with the Asian Development Bank (ADB) to support critical minerals projects in developing countries, the state-run lender said Monday. The agreement was signed by Korea Eximbank CEO Hwang Ki-yeon and ADB President Masato Kanda the previous day in Samarkand, Uzbekistan, on the sidelines of the ADB's annual meeting. Under the deal, Eximbank will participate in a newly established ADB-led financing platform called the Critical Minerals-to-Manufacturing Financing Partnership Facility (CMM FPF), aimed at strengthening critical minerals supply chains across Asia and the Pacific. Eximbank plans to commit up to $500 million by 2029 through its supply chain stabilization fund, using a mix of loans, guarantees and investments. ADB aims to scale up the overall financing pool to between $2 billion and $3 billion. The two institutions will jointly identify promising critical minerals projects in developing countries and provide cofinancing across the value chain, including exploration, ext

May 4, 2026By Lee Hyo-jin
Korea Eximbank sets up $500 mil. critical minerals supply chain alliance with ADB
Companies

LS Cable & System showcases offshore infrastructure technology at OTC 2026 in Houston

LS Cable & System, a manufacturer specializing in advanced subsea and communication cables, said Monday it is participating in the Offshore Technology Conference in Houston. The move comes as the company seeks to expand its presence in the North American offshore power infrastructure market, showcasing a specialized lineup of marine and subsea cables. The conference is a premier global event where energy and offshore plant companies present core technologies spanning offshore platforms, vessels and subsea infrastructure. At its booth, LS Cable & System is showcasing products designed for the demanding conditions of the offshore environment. Marine cables must withstand prolonged exposure to ultraviolet radiation, salt water and drilling mud, while shipboard cables must maintain stable performance under continuous vibration and repeated bending. The company said it has developed proprietary materials and design technologies to meet these requirements, and holds certifications from nine major international classification societies, qualifying its products for North American and European

May 4, 2026By Jhoo Dong-chan
LS Cable & System showcases offshore infrastructure technology at OTC 2026 in Houston
Companies

Hankook Tire tightens grip on British EV market by sponsoring premier exhibition

Hankook Tire & Technology said Monday that it has secured the headline sponsorship for the United Kingdom’s premier electric-vehicle exhibition, Everything Electric UK 2026. The deal represents a significant broadening of the company’s sponsorship footprint as it promotes its iON tire line to a growing European consumer base. Everything Electric is organized by Fully Charged, a British electric vehicle (EV)-focused media company, and serves as a leading platform to showcase the latest technology and market trends in the EV and clean-tech sectors. Hankook Tire joined the event as an official sponsor in 2024, upgraded to a headline sponsor at one venue in 2025 and is now headlining all three regional editions this year. The exhibition runs across three venues: the Great Yorkshire Event Centre in North Yorkshire on May 8-9, Cheltenham Racecourse in Gloucestershire on June 12-13, and Twickenham Stadium in London on Sept. 11-12. Each two-day event opens with a business-to-business day for industry professionals focused on EV market strategy and clean-tech trends, followed by a public-fac

May 4, 2026By Jhoo Dong-chan
Hankook Tire tightens grip on British EV market by sponsoring premier exhibition
Tech & Science

Samsung, LG struggle to revive slowing home appliance business

Samsung Electronics and LG Electronics are scrambling to revive their slowing home appliance businesses, shifting strategies to regain ground lost to Chinese rivals. Samsung Electronics said Monday it has appointed its global chief marketing officer, Lee Won-jin, as the new head of the company's Visual Display (VD) business, which handles TV and other display-related operations. Lee will replace Yong Seok-woo, who has led the business since November 2023. Yong will become an adviser to Roh Tae-moon, head of Samsung’s Device Experience division, which includes VD and mobile device businesses. Lee is a marketing and software service specialist who joined Samsung in 2013 from Google. Before serving as global chief marketing officer, he was credited with successfully establishing Samsung TV Plus, a free ad-supported streaming service, which diversified the company’s device-focused business into a platform-based model. “Drawing on his track record of business success and market insight, he is expected to spearhead business turnarounds and identify new growth areas, thereby further stren

May 4, 2026By Nam Hyun-woo
Samsung, LG struggle to revive slowing home appliance business
Companies

Hyundai, Kia's US sales drop on base effect, hybrid cars hit record high

Sales of Hyundai Motor and Kia vehicles in the United States fell slightly from a year earlier, while numbers for hybrid vehicles rose to a new monthly high, the automaker said Monday. The Korean automakers sold a combined 159,216 vehicles in the key American market in April, down 2.1 percent on-year, according to the companies. Hyundai Motor sold 86,513 units, down 1.5 percent from the previous year. Its luxury vehicle brand Genesis sold 6,356 units, up 0.8 percent on-year. Kia's sales declined by 2.8 percent from the previous year to 72,703 units. The overall sales decline was due to a base effect from a sales surge last year, as customers rushed to purchase cars ahead of the imposition of Washington's auto tariffs, according to the company. Sales of eco-friendly cars, including electric vehicles (EVs), however, rose 47.6 percent on-year to 48,425 units. Demand for hybrid cars also grew by the sharpest 57.8 percent on-year, affected by the U.S. government's decision to terminate EV tax credits. EV sales rose slightly by 7.7 percent to 7,186 units, according to the carmakers.

May 4, 2026By Yonhap
Hyundai, Kia's US sales drop on base effect, hybrid cars hit record high
Companies

Coway makes S&P Sustainability Yearbook, Dow Jones Asia Pacific index

Coway has been selected for the 2026 S&P Sustainability Yearbook and included in the Dow Jones Best-in-Class (DJ BIC) Asia Pacific Index, highlighting its environmental, social and governance (ESG) performance, the company said Monday. The Sustainability Yearbook, published annually by S&P Global, evaluates companies worldwide through its Corporate Sustainability Assessment, which measures financial performance alongside ESG practices. More than 9,200 companies across 59 industries were assessed this year, with 848 selected for inclusion. Coway was recognized for the second consecutive year, ranking in the top 15 percent of the household durables industry. The company was also included in the DJ BIC Asia Pacific Index for the 13th straight year, placing it among the top 20 percent of about 600 companies in the region. Coway said its scores improved in areas such as energy and waste management, biodiversity conservation, occupational health and safety, and data protection. Since establishing an ESG committee in 2021, Coway has expanded its sustainability strategy around three pillars: car

May 4, 2026By Nam Hyun-woo
Coway makes S&P Sustainability Yearbook, Dow Jones Asia Pacific index
Tech & Science

AI fails to connect growing worker productivity to organizational performance: report

Artificial intelligence's (AI) ability to boost individual productivity is becoming increasingly evident but many companies are confronting the “AI productivity paradox” — a growing disconnect between personal efficiency and meaningful organizationwide business performance, according to a recent report by Hana Institute of Finance, Sunday. At the individual level, the technology has already demonstrated measurable productivity benefits, particularly in fields such as programming, legal services and marketing, where its integration with human expertise can significantly improve speed and output quality. Agentic AI represents a further leap, moving beyond tasks like drafting documents or creating images toward systems capable of independently planning and executing complex workflows. This evolution has heightened expectations for AI’s economic impact. PwC projects that it could boost global gross domestic product by as much as 15 percent by 2035. Yet despite heavy spending on AI adoption, many organizations have struggled to translate these investments into measurable gains in rev

May 3, 2026By Park Han-sol
AI fails to connect growing worker productivity to organizational performance: report
Tech & Science

Korean Earth-observation satellite successfully put into orbit

A South Korean Earth-observation satellite has successfully entered low-Earth orbit following its launch from a U.S. space base in California, authorities said Sunday, in a move expected to help bolster Seoul's satellite development capabilities. A SpaceX Falcon 9 rocket carrying the satellite lifted off at 12 a.m. Saturday (U.S. time) from Vandenberg Space Force Base in Santa Barbara County, California. The satellite, called Compact Advanced Satellite (CAS) 500-2, was separated from the launch vehicle about one hour after liftoff, and it was successfully put into orbit, according to the Korea AeroSpace Administration (KASA). The next-generation midsized satellite No. 2 succeeded in making its first communication with a ground station in Norway about 15 minutes following the separation from the rocket. KASA said it identified the satellite as normally working. The satellite was developed for disaster monitoring and agricultural observation. Following a four-month initial operation period, the CAS500-2 will perform its mission together with the CAS500-1 starting in the second half of this

May 3, 2026By Reuters
Korean Earth-observation satellite successfully put into orbit
Companies

HD Hyundai’s eco-friendly circuit breaker for Sweden passes final hurdle

HD Hyundai Electric has passed a final hurdle to export its eco-friendly circuit breakers to Sweden, cementing its product lineups in a European market known for environmental strictness. The Korean industrial electric equipment developer said Sunday it completed testing its 145 kilovolt (kV) SF6-free circuit breaker on Thursday with its client from Sweden present. SF6, or sulfur hexafluoride, has a global warming potential 23,500 times that of carbon dioxide. In 2024, the European Union tightened regulations on fluorinated greenhouse gases, or F-gases, increasing legal restrictions on artificial gases such as refrigerants (HFCs), semiconductor cleaning solvents (PFCs) and insulating gas (SF6). According to the Korean company, the bloc plans to ban SF6 in circuit breakers with capacities of 145kV or higher starting in 2032. HD Hyundai Electric said the EU regulations are expected to increase demands for high-voltage circuit breakers with zero SF6. Following its final test, the Korean firm’s SF6-free circuit breaker will be supplied to a substation run by a Swedish utility company. HD Hy

May 3, 2026By Ko Dong-hwan
HD Hyundai’s eco-friendly circuit breaker for Sweden passes final hurdle
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