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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

    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
  • Companies

    Hyundai Steel, LSU partner on next-gen steelmaking research

    2 MIN READBy Lee Gyu-lee
    Hyundai Steel, LSU partner on next-gen steelmaking research
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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

Mercedes-Benz Korea’s direct sales to reshape retail paradigm: experts

Mercedes-Benz Korea’s direct sales model will reshape the retail paradigm in the imported car market here, as more carmakers are expected to jump on the bandwagon once the system proves successful without any steep price hike, experts and industry officials said. The local subsidiary of the German carmaker introduced Monday the “Retail of the Future” sales model under which its headquarters will directly control each vehicle’s pricing and sales. The carmaker had so far partnered with a group of dealerships for its sales, but consumers will not be able to see any surprise discount campaigns offered at dealers’ discretion due to the reshaped sales model. The core of the new system is a unified structure integrating pricing and inventory, which had previously varied by dealership. This will allow customers to purchase vehicles under the same conditions nationwide, regardless of location. Mercedes-Benz Korea believes the new sales model will eliminate pricing opacity, as customers will be able to focus solely on the vehicle model and brand experience, rather than negotiating prices

Apr 21, 2026By Lee Min-hyung
Mercedes-Benz Korea’s direct sales to reshape retail paradigm: experts
Companies

Innospace deepens ties with India's Grahaa Space at Korea-India Space Day

Innospace, a Korean private aerospace company specializing in small satellite launch vehicles, said Monday it signed a memorandum of understanding (MOU) with Indian satellite startup Grahaa Space to collaborate on multiple launch services, expanding a commercial relationship that began with the two companies' first joint mission last December. The agreement was signed at the Korea-India Space Day event in Bengaluru, co-hosted by the Korea AeroSpace Administration and the Indian National Space Promotion and Authorisation Centre. The event was held in conjunction with President Lee Jae Myung's state visit to India. The MOU follows Innospace's inaugural commercial launch attempt in December, in which Grahaa Space's Solaras S2 nanosatellite was among the payloads carried aboard the HANBIT-Nano rocket. That mission, designated SPACEWARD, ended in failure roughly 30 seconds after liftoff from Brazil's Alcantara Space Center. Despite the outcome, Grahaa Space said it came away with confidence in Innospace's technical preparation and customer management capabilities throughout the launch proces

Apr 21, 2026By Jhoo Dong-chan
Innospace deepens ties with India's Grahaa Space at Korea-India Space Day
Companies

GS E&C partners with Indian renewable energy firms to expand portfolio

GS Engineering & Construction (E&C) has signed separate memorandums of understanding with two Indian renewable energy companies, marking the Korean builder's formal entry into India's growing wind repowering and hybrid clean energy markets, the company said Tuesday. GS E&C CEO Huh Yoon-hong attended both signing ceremonies held the previous day, the company said. GS E&C signed agreements with Arie Energy, an Indian wind repowering specialist, and Suzlon Energy, one of India's leading wind power companies, targeting the development of wind repowering and integrated solar-wind-battery energy storage projects across India. Under the agreement with Arie Energy, the two companies will jointly pursue wind repowering projects targeting aging wind farms in India — replacing older turbines with modern, higher-capacity units to increase power output and reduce early-stage development risks. The partnership sets a target of securing 1 gigawatt of wind repowering projects in India within the next five years. The companies plan to establish a joint venture to manage the full project lifecycle from

Apr 21, 2026By Jhoo Dong-chan
GS E&C partners with Indian renewable energy firms to expand portfolio
Companies

Disney Korea, Lotte to mark Star Wars Day with festival in Jamsil

The Walt Disney Company Korea and Lotte Corporation said Tuesday they will host a Star Wars fan festival in the Lotte World Tower area of Jamsil, in southern Seoul, from May 1 to May 17. The event, titled “Star Wars Day 2026 in Jamsil,” will carry the theme “One with the Force” and coincide with Star Wars Day, observed each year on May 4. The date plays on the franchise’s signature line, “May the Force be with you,” and its phonetic echo in “May the fourth.” The Walt Disney Company Korea has held Star Wars Day events in Korea since 2015. The centerpiece of the festival is the Star Wars Arena, an outdoor installation on the Lotte World Tower plaza open daily from 11 a.m. to 10 p.m. throughout the event period. A 10-meter-tall sculpture of Grogu — the child character from "The Mandalorian" often known as Baby Yoda — will serve as the centerpiece, alongside a photo zone designed to give visitors the illusion of levitating through the use of the Force. The space will also feature a cockpit simulation of the Razor Crest and a scouting mission activity set on the planet

Apr 21, 2026By Jhoo Dong-chan
Disney Korea, Lotte to mark Star Wars Day with festival in Jamsil
Companies

BMW Korea’s 3 Series enjoys solid popularity

BMW Korea’s 3 Series sedan continues to dominate the premium midsize segment here, extending its long-standing market leadership with strong sales growth this year. The model, which surpassed 130,000 vehicles in cumulative domestic sales last year — the first and only one in its class to reach this milestone — sold 1,683 vehicles in the first quarter, up 34.6 percent from a year earlier. The figure is as much as eight times higher than some competing models in the same segment, the German carmaker said. Introduced in Korea for the first time in 1995, the 3 Series has remained the best-selling model in the premium midsize category. It topped 10,000 vehicles in cumulative sales in 2007, 50,000 in 2015 and 100,000 in 2021, before reaching 130,000 vehicles in 2024. Globally, the 3 Series has sold more than 20 million units over the past five decades, making it the only single model from a premium brand to achieve that milestone. Since its debut in 1975, the model has evolved through seven generations, while maintaining its core identity as a sports sedan — a balance of dynamic perfo

Apr 21, 2026By Lee Min-hyung
BMW Korea’s 3 Series enjoys solid popularity
Business

Kuwait's force majeure on oil shipments to have limited impact on Korea: official

Kuwait's declaration of force majeure on crude oil shipments will have a limited impact on Korea's oil supply as the country has already been working to cope with the impact of the Strait of Hormuz blockade, an industry ministry official said Tuesday. Yang Ghi-wuk, deputy minister for trade, industry and resource security, made the remarks in a regular briefing on the country's energy supply, explaining that the country has secured alternative crude supplies to stabilize the domestic fuel market amid the ongoing crisis in the Middle East Kuwait is known to have begun notifying Korean oil refineries of its decision, but the country will face a limited impact from the move as imports of Kuwait crude shipments have already been disrupted with the de facto closure of the critical Middle Eastern oil export route, Yang said. Force majeure is a contract clause that excuses a party from performing its obligations when unforeseeable circumstances beyond its control make adherence to its obligations impossible. Seoul has secured alternative oil supplies amounting to 70 million barrels for May, whi

Apr 21, 2026By Yonhap
Kuwait's force majeure on oil shipments to have limited impact on Korea: official
Banking & Finance

Woori Bank CEO joins president’s state visit to India

Woori Bank CEO Jung Jin-wan attended the Korea-India Business Forum in New Delhi, held on the sidelines of President Lee Jae Myung's state visit to the South Asian nation, the bank said Tuesday. At the forum held on the previous day, Jung met with Indian business leaders to discuss market trends and explore opportunities to expand the bank's presence in the world's most populous country. Around 600 business executives and government officials from both countries attended to discuss potential areas of cooperation. Jung was the only head of a major Korean commercial bank included in the president's business delegation during the three-day trip. Woori Bank currently operates five branches across key Indian cities — Chennai, Mumbai, Gurugram, Pune and Ahmedabad — and plans to incorporate insights from the CEO's latest visit into its future strategy. As part of his itinerary, Jung also visited Akshya Pratisthan, a school in Gurugram, where he delivered donations for underprivileged children. The bank said it is expanding its social contribution efforts in India alongside its business opera

Apr 21, 2026By Lee Hyo-jin
Woori Bank CEO joins president’s state visit to India
Companies

HD Hyundai partners with Indian gov't entities for joint shipyard project

HD Hyundai , Korea's leading shipbuilding conglomerate, said Tuesday it has forged a partnership with Indian government-backed entities to establish a joint shipyard in India. HD Hyundai said it signed a memorandum of understanding (MOU) with NSHIP TN and Sagarmala Finance Corporation (SMFCL) of India in New Delhi on Monday (local time) to cooperate in building a joint venture shipbuilding company. NSHIP TN (National Shipbuilding & Heavy Industries Park) Tamil Nadu is a special-purpose company established by India's port authorities, while SMFCL supports the country's Sagarmala port infrastructure development initiative. Under the MOU, HD Hyundai will establish the joint venture shipbuilding company with the two entities and take a leading role as the largest shareholder, overseeing overall operations and ultimately building a digital-focused shipyard in India. The partnership was signed on the occasion of a bilateral summit held between Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi in New Delhi on Monday. HD Hyundai also aims to foster local talent by establishin

Apr 21, 2026By Yonhap
HD Hyundai partners with Indian gov't entities for joint shipyard project
Banking & Finance

Banks turn to rehiring retirees amid workforce restructuring

After retiring in 2024 from a three-decade career at Woori Bank, a 55-year old man surnamed Lee is back at the bank on contract as a specialist handling post-loan management. He was rehired in January to monitor loans and manage credit risk after disbursement. "I applied after hearing about the rehiring program because I wanted to put my experience to use in my second career," Lee said. "I worked my way up to branch manager, so I can share that experience with younger staff. I'm also learning a lot from them in this fast-changing banking environment." Korea's major banks are increasingly rehiring retired employees like Lee as they close branches and cut staff, tapping experienced workers to fill expertise gaps on the ground. According to industry data, released Monday, the five major banks — KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH Nonghyup Bank — have rehired 5,458 retired employees on contract between 2021 and February this year, averaging about 1,000 a year. About 290 were rehired in the first two months of this year alone. These rehired bankers are increasingly

Apr 21, 2026By Lee Hyo-jin
Banks turn to rehiring retirees amid workforce restructuring
Companies

Mercedes-Benz unveils electric C-Class at world premiere in Seoul

Mercedes-Benz unveiled the all-new electric C-Class sedan during its first world premiere in Seoul, Monday, signaling its strong commitment to Korea’s premium electric vehicle (EV) market. The event underscores the country’s growing strategic importance to the German luxury carmaker, with a group of the firm’s top executives — including Mercedes-Benz Group Chairman Ola Kallenius — visiting Seoul to celebrate the debut of the all-electric C-Class. “Korea is such an important market for us, so we want to send a message to the Korean fans (by holding the event in Seoul),” Kallenius told reporters during a media roundtable. “Korea is one of the most important markets for us by size, and it is the fifth biggest. The customer base here is technology-oriented.” The vehicle combines a coupe-like silhouette, an illuminated grille featuring 1,050 backlit dots and a sporty rear design. The electric sedan delivers a range of up to 762 kilometers on a single charge, according to the Worldwide Harmonized Light Vehicle Test Procedure (WLTP) certification. The vehicle’s range increas

Apr 20, 2026By Lee Min-hyung
Mercedes-Benz unveils electric C-Class at world premiere in Seoul
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