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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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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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Business

Korea to release comprehensive chicken guidebook by July

Korea’s first government-backed “chicken guidebook” is set for release by the end of June, as the Ministry of Agriculture, Food and Rural Affairs finished the task of looking over citizen contributions on local chicken hotspots. The guidebook, which is now in the design phase, will offer a collection of local chicken restaurants and hotspots in a bid to elevate locally-known eateries into the national sphere, the ministry said Tuesday. Last month, the ministry opened a nationwide online survey where it asked respondents to send in their favorite local spots. The ministry said it received around 2,700 responses. The government said public feedback included restaurants offering a variety of chicken dishes — from fried chicken to barbequed chicken, braised chicken, course menus, chicken gizzard and chicken stew. The responses also covered local chicken hotspots such as the Fried Chicken Street in Suwon, Chicken Gizzard Alley in Daegu Pyeonghwa Market and Braised Chicken Street in Andong. The responses also highlighted local chicken festivals including the Daegu Chimac Festival and Ge

Apr 28, 2026By Ko Dong-hwan
Korea to release comprehensive chicken guidebook by July
Tech & Science

Hyundai Motor selected for gov't self-driving projects in Gwangju

Hyundai Motor has been selected as one of three participants in a government-backed autonomous driving initiative in Gwangju, as Korea steps up efforts to commercialize artificial intelligence (AI)-powered mobility. The Ministry of Land, Infrastructure and Transport announced on Tuesday that it has chosen Hyundai, Autonomous A2Z and RideFlux to develop end-to-end (E2E) AI autonomous driving technology, with a fleet of 200 dedicated vehicles in the city’s designated testbed area. To support the initiative, the ministry designated Gwangju as Korea’s first city-wide pilot zone for autonomous vehicles, covering 500.97 square kilometers. The designation allows participating companies to conduct real-world testing of their technologies across the entire metropolitan area with fewer regulatory constraints. The initiative aligns with the government’s broader plan to establish AI-powered autonomous driving mega zones, backed by comprehensive policy support spanning finance, infrastructure, talent and regulation. “At last, the country’s leading autonomous driving companies have come toget

Apr 28, 2026By Lee Gyu-lee
Hyundai Motor selected for gov't self-driving projects in Gwangju
Companies

DeepMind chief holds separate meetings with heads of Korean conglomerates in Seoul: sources

Demis Hassabis, the co-founder and chief of Google DeepMind, held separate meetings Tuesday with the heads of major Korean conglomerates, including Hyundai Motor and LG Group, industry sources said. Hassabis reportedly met with Euisun Chung, the executive chair of Hyundai Motor Group, earlier in the day. He later visited LG Group's main office and met with the group's chairman, Koo Kwang-mo, insiders added. Hassabis and Koo are expected to have discussed ways to further partnerships in AI during the closed-door meeting, also attended by executives from LG Electronics and the group's AI research lab, according to the sources. The DeepMind executive has been in Seoul since Monday, marking his first such trip in 10 years, after DeepMind's AI, AlphaGo, beat Korea's legendary Go player Lee Sedol in a historic human-versus-machine match in 2016. He has hinted at possible meetings with major Korean conglomerates in a memorandum of understanding (MOU) signing ceremony with the science ministry, saying DeepMind plans to expand and deepen existing partnerships it has with local conglomerates.

Apr 28, 2026By Yonhap
DeepMind chief holds separate meetings with heads of Korean conglomerates in Seoul: sources
Business

Missha wins shelf space in Costco stores in North America, Taiwan

A Korean cosmetics brand is making the leap into international brick-and-mortar retail, as MISSHA products hit the shelves of Costco stores across the United States, Canada and Taiwan in a coordinated global rollout announced Tuesday. Able C&C said its flagship brand MISSHA has secured placements in Costco warehouses across the three markets, marking a significant expansion beyond overseas online sales. The move follows a year of rapid growth in digital channels, where MISSHA established itself as a leading K-beauty brand on global platforms including Amazon and TikTok, the company said. The Costco launch represents more than a simple distribution deal, giving the products a strategic foothold in North America and Asia. Costco operates more than 700 locations across North America, including about 600 in the United States, offering brands immediate nationwide exposure through a single retail partnership. MISSHA has already built a presence in Japan, supplying products to more than 30 Costco stores. The latest expansion will add about 150 locations in the United States, 60 in Canada and 14

Apr 28, 2026By Lee Kyung-min
Missha wins shelf space in Costco stores in North America, Taiwan
Business

Celltrion enters Japanese market for arthritis treatments with new biosimilar

Celltrion moved to strengthen its position in Japan’s competitive immunology market Tuesday with the debut of Avtozma, a biosimilar treatment for rheumatoid arthritis. The launch grants the Korean drugmaker a first-mover advantage in a therapeutic segment traditionally dominated by high-cost brand-name biologics. The company said the launch of Avtozma follows a seven-month regulatory window after the drug received marketing authorization from Japan’s Ministry of Health, Labour and Welfare in September. The intravenous and subcutaneous formulations are approved to treat a broad range of inflammatory conditions, including rheumatoid arthritis, juvenile idiopathic arthritis, Castleman disease and cytokine release syndrome. With the launch, Celltrion expands its autoimmune portfolio in Japan to four products, adding to its existing lineup. The company said it plans to directly sell through its Japanese subsidiary, leveraging its established sales network and supply capabilities to accelerate adoption. Ahead of the launch, the company engaged medical professionals at the 70th Annual Meeti

Apr 28, 2026By Lee Kyung-min
Celltrion enters Japanese market for arthritis treatments with new biosimilar
Banking & Finance

BOK's Q1 net profit hits all-time high on weakening won

The Bank of Korea (BOK) reported a record first-quarter profit of more than 4 trillion won ($2.71 billion), as a weaker won against the dollar boosted returns on its foreign currency assets, according to data released Tuesday. While part of the windfall will be transferred to government revenue, supporting public finances, the gains driven by high exchange rates underscore the challenge facing the central bank in curbing currency volatility. According to the BOK's monthly balance sheet, cumulative net profit for the January-March period reached 4.21 trillion won. This is more than triple the 1.39 trillion won recorded during the same period in 2025, marking the highest first-quarter figure on record. It also nearly doubled the previous high of 2.22 trillion won set in March 2020. The BOK's earnings are largely driven by interest income and capital gains on foreign currency securities, leaving them sensitive to global financial conditions, including interest rates, equity markets and exchange-rate movements. A prolonged period of won weakness against the dollar — with the Korean currency

Apr 28, 2026By Lee Hyo-jin
BOK's Q1 net profit hits all-time high on weakening won
Banking & Finance

Sophisticated AI-powered insurance fraud tests detection systems

The rise in artificial intelligence (AI)-driven insurance fraud is putting the insurance sector on high alert, as insurers struggle to keep pace with increasingly sophisticated digital forgery techniques despite deploying their own AI-powered detection tools, industry and government officials said Tuesday. Data from the Financial Supervisory Service (FSS) showed that liquidated insurance fraud reached an all-time high of 1.16 trillion won ($788 million) last year. Of that, around 201 billion won stemmed from falsified medical certificates and inflated claims for hospital stays and surgeries. Together with staged or exaggerated car accidents, these schemes accounted for 35 percent of the total. While there are no separate statistics tracking AI-driven forgery and falsification, the industry sees AI as a major factor behind the surge. In one case, a woman in her 40s filed 39 insurance claims over a three-year period, citing conditions ranging from finger fractures to cancer. Alarmed by the frequency, the insurer cross-checked her submissions against hospital records and found that the doc

Apr 28, 2026By Jun Ji-hye
Sophisticated AI-powered insurance fraud tests detection systems
Companies

Samsung contemplates dropping TV, appliance biz in China

Samsung Electronics is weighing a potential exit from its TV and home appliance sales business in China, as intensifying competition and weakening profitability continue to cloud its outlook in one of the world’s largest consumer markets. Citing sources familiar with the matter, Japanese news outlet Nikkei reported Monday that the company is expected to decide as early as the end of this month whether to halt sales of its TVs and appliances in China, with potential plans to liquidate inventory and wind down operations within the year. The report said Samsung is considering maintaining its local manufacturing in China even if it exits sales, repositioning its production bases as export hubs serving nearby markets for home appliances such as refrigerators, washing machines and air conditioners. The potential withdrawal comes as Chinese brands such as TCL and Hisense rapidly gain global market share, leveraging aggressive pricing and improving product quality. The combined share of Chinese brands in the global TV market reached 31.9 percent last year, surpassing Korea’s 30.4 percent, u

Apr 28, 2026By Lee Gyu-lee
Samsung contemplates dropping TV, appliance biz in China
Companies

HD Hyundai partners with KAIST-affiliated science academy to foster future engineers

HD Hyundai signed a memorandum of understanding (MOU) with the Korean Science Academy of Korea Advanced Institute of Science and Technology (KAIST), Tuesday, to nurture future scientists and engineers. Under the agreement, the KAIST-affiliated academy will receive support from HD Hyundai in employee development and research, along with special lectures on science, technology and entrepreneurship. Students will also be invited to visit and gain hands-on experience at HD Hyundai affiliates. The Korean Science Academy of KAIST is the country’s first science high school focused on research-based education. Over the past 11 years, all of its graduates have gone on to pursue degrees in science and engineering fields. “Amid rapidly changing technologies and intensifying global competition, the importance of science and technology talent is greater than ever,” said Chang Kwang-pil, director of Advanced Research Center at HD Korea Shipbuilding & Offshore Engineering. “We will take the lead in fostering future engineers through this partnership with the academy, which has long played a key

Apr 28, 2026By Ko Dong-hwan
HD Hyundai partners with KAIST-affiliated science academy to foster future engineers
Business

EV infrastructure leader Chaevi to list Wednesday on Kosdaq

Widely seen as Korea’s main challenger to Tesla’s Supercharger network, Chaevi is set to make its public market debut Wednesday as the company seeks to capitalize on rising demand for fast-charging infrastructure while emphasizing protections for investors. Chaevi will list on the secondary bourse Kosdaq, becoming the country’s top charging point operator, or CPO, to go public. The company drew strong retail interest during its April 20-21 subscription, securing about 4.18 trillion won ($2.7 billion) in deposits, the company said. Analysts said the offering structure, which limits immediately tradable shares to 21.03 percent of total outstanding stock, is designed to reduce early volatility and stabilize supply. Chaevi said it also adopted measures aimed at protecting investors, including a put-back option that allows shareholders to sell shares back to the company at 90 percent of the offering price if the stock falls below its initial price within a set period. The company set its public offering at 12,300 won per share, raising about 110.7 billion won in total. The number of sha

Apr 28, 2026By Lee Kyung-min
EV infrastructure leader Chaevi to list Wednesday on Kosdaq
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