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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
  • Tech & Science

    Anthropic opens Seoul office to expand ties with Korean AI ecosystem

    3 MIN READBy Nam Hyun-woo
    Anthropic opens Seoul office to expand ties with Korean AI ecosystem
  • Companies

    'Wide Cup' fuels World Cup fever among Korean fans

    2 MIN READBy Ko Dong-hwan
    'Wide Cup' fuels World Cup fever among Korean fans
  • Companies

    Hanwha Ocean faces mounting costs from blocked icebreaker delivery to Russia

    2 MIN READBy Lee Min-hyung
    Hanwha Ocean faces mounting costs from blocked icebreaker delivery to Russia
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Companies

Shinsegae goes all out to capitalize on holiday weeks in China, Japan

Shinsegae Group is going all out to capitalize on holiday periods in China and Japan that run through next week, rolling out promotional events targeting customers visiting from neighboring countries. Japan’s Golden Week and China’s Labor Day holiday week coincide with Korea’s Labor Day on Friday and Children’s Day on Tuesday, prompting major retailers here to brace for a “super week” expected to bring a surge of visitors and spending. Shinsegae Group’s retail subsidiaries spanning fashion, beauty, lifestyle and duty-free stores have revamped layouts and launched discount events to boost the shopping mood. The conglomerate aims to focus on the holiday period as a way to sustain the recent rise in spending by foreign customers. In the first quarter, Shinsegae Department Store saw sales to foreign shoppers surge, with women’s fashion jumping 99.6 percent from the previous quarter. Men’s fashion rose 121 percent and the beauty segment increased 91.2 percent. Fashion and beauty have become the group’s keywords for its latest promotional bonanza. Shinsegae International’

Apr 29, 2026By Ko Dong-hwan
Shinsegae goes all out to capitalize on holiday weeks in China, Japan
Companies

Bom Kim designated as legal leader of Coupang, faces heavier regulatory scrutiny

Korea’s antitrust watchdog on Wednesday named Coupang founder Kim Bom-suk, better known as Bom Kim, as the legally designated controller of the e-commerce giant, a move that will put him under a wider range of regulatory scrutiny. The Fair Trade Commission (FTC) released its 2026 list of business groups subject to public disclosure, and designated Kim, the board chairman of Coupang’s U.S.-based parent company Coupang Inc., as the group’s “same person” — a legal term referring to an individual deemed to effectively control a conglomerate. The term is based on the concept that all affiliates in a business group are de facto controlled by a single individual and treated as one economic entity. Once designated, the person and their relatives are required to submit extensive disclosures on governance and shareholding. The designation also subjects the group to broader regulations on issues such as unfair intra-group support and circular shareholding. Kim, a U.S. national, became the second foreign national designated as a controlling figure of a Korean conglomerate, following OCI

Apr 29, 2026By Nam Hyun-woo
Bom Kim designated as legal leader of Coupang, faces heavier regulatory scrutiny
Companies

AMCHAM report highlights regulatory hurdles facing US firms in Korea

The American Chamber of Commerce in Korea (AMCHAM) released on Tuesday its annual 2026 Business Environment Insight Report outlining key regulatory challenges and policy recommendations aimed at strengthening Korea’s competitiveness as a regional headquarters and innovation hub for U.S. companies. In its report, AMCHAM identified key regulatory challenges facing U.S. companies in Korea, including issues that may function as nontariff barriers, AMCHAM Chairman and CEO James Kim said. The report said complex regulatory structure, policy inconsistency and misalignment with global standards continue to burden business activity. Overlapping regulations, frequent policy changes and limited predictability were also cited as major sources of uncertainty in investment and operations. These challenges, the report pointed out, are becoming more critical in emerging sectors such as artificial intelligence and digital infrastructure, where policy clarity, cross-border data mobility and reliable access to energy and infrastructure are seen as essential to innovation and large-scale investment. The r

Apr 29, 2026By Lee Gyu-lee
AMCHAM report highlights regulatory hurdles facing US firms in Korea
Banking & Finance

Hana Financial, POSCO International, Dunamu team up on blockchain-based cross-border payments

Hana Financial Group said Wednesday it signed a memorandum of understanding with POSCO International and Dunamu to jointly develop blockchain-based overseas remittance services. The three companies aim to combine Hana Financial's foreign exchange network, POSCO International's global trading and supply chain operations, and Dunamu's blockchain technology to test real-time cross-border transfers. The agreement signing ceremony took place at the group's headquarters in Seoul and was attended by Lee Eun-hyung, vice chairman of Hana Financial Group, POSCO International CEO Lee Kye-in and Dunamu CEO Oh Kyoung-suk. Under the partnership, the companies will collaborate on building blockchain-based remittance systems, improving global cash management and payment infrastructure, and exploring new digital finance business opportunities. Hana Financial plans to leverage its global network to develop blockchain-based remittance services aimed at reducing transfer time and costs, particularly for corporate clients. POSCO International will act as a test bed by applying the system to its global trade o

Apr 29, 2026By Lee Hyo-jin
Hana Financial, POSCO International, Dunamu team up on blockchain-based cross-border payments
Business

Retail sales rise 5.6% in March on tourism boost, back-to-school season demand

Revenue of major retail companies here went up 5.6 percent from a year earlier in March thanks to the robust consumption demand fueled by a sharp increase in inbound travelers to Korea and the back-to-school season, government data showed Wednesday. Offline retailers reported 1.9 percent year-on-year growth in sales, with department stores posting a sharp growth of 14.7 percent and convenience stores enjoying a 2.7 percent gain in revenue, according to data compiled by the Ministry of Trade, Industry and Resources. The ministry said department stores, in particular, saw their revenue increase across fashion and sports items, and children's goods, as a record 2.06 million foreign tourists visited the country in March. Shopping demand also rose with the start of a new school year. Offline supermarkets, however, saw their revenue drop 15.2 percent year-on-year with the continued growth of the e-commerce sector. The revenue of major online retail platforms climbed 8.1 percent year-on-year, led by the growth in sales of cosmetics, groceries, household items and home appliances. Online platform

Apr 29, 2026By Yonhap
Retail sales rise 5.6% in March on tourism boost, back-to-school season demand
Companies

Samsung Display, LG Display win top SID honors

Samsung Display and LG Display have reaffirmed the nation’s display prowess by winning top awards from an internationally renowned industry forum. According to Samsung Display on Wednesday, its dual-folding TriFold panel has been named “Display of the Year,” the most prestigious honor within the Display Industry Awards, presented annually by the Society for Information Display (SID). The award recognizes the most innovative display product introduced over the past year. On Tuesday (local time), SID praised the TriFold as a new form factor designed for the mobile artificial intelligence era, delivering both powerful performance and exceptional portability. The organization added that its 10-inch-class immersive display unlocks new possibilities across productivity, creativity and entertainment. SID also highlighted the panel’s advanced materials, noting that they enhance the durability of its dual-folding structure while maintaining its slim profile. Samsung Display began mass production of the TriFold display in September 2025. With a total module thickness of just 0.44 millimet

Apr 29, 2026By Nam Hyun-woo
Samsung Display, LG Display win top SID honors
Companies

LS Electric wins $216.5 mil. deal from US energy firm for data center project

LS Electric, a Korean electrical equipment maker, said Wednesday it has secured a 319 billion-won ($216.5 million) contract to supply power distribution systems to Bloom Energy, a U.S. energy solution firm, for a large-scale data center project. The company said the deal with Bloom Energy involves providing power distribution solutions for a hyperscale data center operated by a U.S. big tech company in New Mexico, without disclosing the name of the firm. Bloom Energy has teamed up with Oracle, a global cloud service provider, for its artificial intelligence (AI) and cloud computing infrastructure. Earlier this month, LS Power Solution, LS Electric's subsidiary, signed a 106.6 billion-won contract to supply transformers to a U.S. energy infrastructure company to power a large-scale data center in the central United States. Investment in power infrastructure across North America is rising amid growing electricity demand driven by the AI boom, LS Electric said, noting it aims to further expand its presence in the region.

Apr 29, 2026By Yonhap
LS Electric wins $216.5 mil. deal from US energy firm for data center project
Companies

Nongshim partners with Chinese firm to boost second half of year sales

Nongshim, Korea's leading instant noodle maker, said Wednesday it has partnered with a Chinese company to launch collagen-based dietary supplements in the second half of the year. Under the agreement, Nongshim will sell its Lifill collagen products through the distribution network of Guangzhou Wanglaoji Pharmaceutical in China, the company said in a press release. Nongshim also plans to introduce its partner's dietary supplements in the Korean market later this year to create synergies. China's dietary supplements market, valued at about 41 trillion won ($27.8 billion), is expected to grow at an average annual rate of around 7 percent through 2027, the company said. The partnership is part of Nongshim's broader effort to diversify its portfolio beyond instant noodles and snacks and secure long-term growth.

Apr 29, 2026By Yonhap
Nongshim partners with Chinese firm to boost second half of year sales
Banking & Finance

Chief regulator vows bold deregulation to enhance financial innovation

The chief of the country's financial regulator said Wednesday that his agency will take bold steps to help the financial sector further develop innovative services. In an event to promote fintech services, Lee Eog-weon, chairman of the Financial Services Commission (FSC), said his agency and related parties will provide their support for financial innovation and the fintech industry in selective, vital areas. "Our support will be centered on artificial intelligence (AI), data and young entrepreneurs," Lee said, adding that unnecessary and outdated regulations will be drastically removed. The FSC chief also said his agency will actively tackle changes taking place in the financial sector.

Apr 29, 2026By Yonhap
Chief regulator vows bold deregulation to enhance financial innovation
Banking & Finance

Seoul stocks down late Wednesday morning amid AI woes, oil prices

Seoul stocks were trading lower late Wednesday morning, as investors sat on the sidelines after unfavorable reports regarding OpenAI dampened sentiment for the artificial intelligence sector. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.45 points, or 0.08 percent, to 6,635.57. After opening lower, the index experienced choppy trading in early trading. Overnight, U.S. stocks lost ground led by losses in tech heavyweights, as a report said an executive from OpenAI, the founder of ChatGPT, raised concerns over its revenue and user targets. Rising oil prices further weighed on the market. Brent Crude, the international oil benchmark, closed at over US$111 per barrel, as hopes for a breakthrough in U.S.-Iran peace talks faded. Most large cap shares were trading lower. Market bellwether Samsung Electronics fell 1.13 percent, and its chipmaking rival SK hynix inched down 0.23 percent. Top auto maker Hyundai Motor retreated 0.72 percent, while defense giant Hanwha Aerospace added 1.58 percent, and shipbuilder HD Hyundai Heavy Industries advanced 3.3 percent. The Korean won was quot

Apr 29, 2026By Yonhap
Seoul stocks down late Wednesday morning amid AI woes, oil prices
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