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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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Banking & Finance

Government maintains belt-tightening stance in 2025 budget

The government plans to increase the 2025 national budget by 3.2 percent to 677.4 trillion won ($509.17 billion), aiming to sustain a modest growth in expenditures while adhering to a belt-tightening policy.

Aug 27, 2024By Yi Whan-woo
Government maintains belt-tightening stance in 2025 budget
Banking & Finance

Prosecutors raid Woori Bank over allegations of improper loans

The prosecution on Tuesday raided Woori Bank's headquarters and branch offices in connection with allegations of huge inappropriate loans extended to relatives of a former chief of its holding company.

Aug 27, 2024By Yonhap
Prosecutors raid Woori Bank over allegations of improper loans
Companies

Medytox's No. 3 factory allowed to produce Neuramis for Ukraine

Medytox’s No. 3 factory in Cheongju, North Chungcheong Province, has received approval from the Ukrainian Center for Medical Certification and Prognostication for the production and export of the company’s hyaluronic acid (HA) filler, Neuramis.

Aug 27, 2024By Park Jae-hyuk
Medytox's No. 3 factory allowed to produce Neuramis for Ukraine
Banking & Finance

JB Financial Group's Kwangju Bank, Toss Bank launch joint loan

Kwangju Bank and Toss Bank launched a joint loan product, the first of its kind in the Korean financial industry.

Aug 27, 2024By Yoon Ja-young
JB Financial Group's Kwangju Bank, Toss Bank launch joint loan
Companies

SK Innovation-SK E&S merger set to create biggest private energy firm in Asia

Shareholders of SK Innovation and its energy affiliate SK E&S on Tuesday overwhelmingly approved a proposed merger of the two companies that would create the largest private energy company in the Asia-Pacific region.

Aug 27, 2024By Yonhap
SK Innovation-SK E&S merger set to create biggest private energy firm in Asia
Companies

Combined net profit of credit card firms grows 5.8% in H1

Credit card companies in Korea saw their combined net profit rise from a year earlier in the first six months of the year, helped by an increase in sales, data showed Tuesday.

Aug 27, 2024By Yonhap
Combined net profit of credit card firms grows 5.8% in H1
Companies

Westinghouse protests Czech decision to pick S. Korea's KHNP as preferred bidder

A U.S. nuclear energy firm has filed an appeal with the Czech Republic to protest last month's decision to select a South Korean company as the preferred bidder to build two nuclear power units in the Central European country, it said Monday.

Aug 27, 2024By Yonhap
Westinghouse protests Czech decision to pick S. Korea's KHNP as preferred bidder
Companies

US agency to reexamine permit for Hyundai's $7.6 billion electric vehicle plant in Georgia

A federal agency plans to reassess its environmental permit for Hyundai's $7.6 billion electric vehicle plant in Georgia after a conservation group complained that regulators failed to properly examine the sprawling factory's potential impacts on the area's water supply.

Aug 27, 2024By AP
US agency to reexamine permit for Hyundai's $7.6 billion electric vehicle plant in Georgia
Companies

Samsung chief invests in young people for WorldSkills Lyon

The chief of Samsung Electronics is investing in the nation’s young people to prepare them for this year’s WorldSkills Competition, a biennial global event that will be held in Lyon, France, next month, according to the global company on Monday.

Aug 26, 2024By Ko Dong-hwan
Samsung chief invests in young people for WorldSkills Lyon
Banking & Finance

Government taps Chuseok holiday to boost private spending in H2

The government is rolling out a series of measures aimed at encouraging consumers to spend more on domestic goods and services during the Chuseok holiday and throughout the remainder of 2024.

Aug 26, 2024By Yi Whan-woo
Government taps Chuseok holiday to boost private spending in H2
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