Koreans Daily - : BUSINESS

(URGENT) S. Korea's monthly exports up 62.8 pct in July

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

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SK signs 2.3 tln-won deal to sell chip materials firm SK Siltron to Doosan

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- SK Inc., SK Group's holding company, said Friday it h...

Strict regulations on 'split listing' to take effect early Aug.

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- The Financial Services Commission (FSC) said Friday n...

(LEAD) HD Hyundai Q2 net income up 550 pct on ships, construction biz

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- HD Hyundai Co., the holding company of South Korea's ...

(2nd LD) Seoul shares surge record 18 pct to reclaim 6,500-point level on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- South Korean stocks skyrocketed by a record 18 percen...

(LEAD) Seoul shares surge record 18 pct to reclaim 6,500-point level on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- South Korean stocks skyrocketed by a record 18 percen...

Seoul shares surge record 18 pct to reclaim 6,500-point level on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- South Korean stocks skyrocketed by a record 18 percen...

(URGENT) Seoul shares surge record 18 pct to reclaim 6,500 point level on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

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(LEAD) Hanwha Aerospace's quarterly operating profit tops 1 tln won

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- Hanwha Aerospace Co., South Korea's leading defense c...

(LEAD) LG Chem swings to Q2 profit on inventory lag effect

Tomas Kauer - International News Writer and Moderator — Sat, 01 Aug 2026 21:00:10 +0900

SEOUL, July 31 (Yonhap) -- LG Chem Ltd., South Korea's leading chemical company,...

Hanwha Life Insurance to support Korea's International Olympiad in Informatics team

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

Hanwha Life Insurance has signed a memorandum of understanding to support Korea’s national team competing at this year’s International Olympiad in Informatics (IOI), following the country’s first-ever clean sweep of four gold medals at the prestigious programming contest last year, the insurer said Friday. The IOI is one of the annual International Science Olympiads that brings together the world’s top secondary school students in computer programming under the age of 20. The competition spans two days, with contestants solving three algorithmic programming problems during a five-hour session each day. Hanwha Life began sponsoring the national team last year as part of its efforts to nurture young talent in computer science amid growing demand for expertise in artificial intelligence (AI) and digital technologies. With the insurer’s backing, the team’s training program expanded from primarily online instruction to intensive residential training camps. The enhanced program coincided with a historic result at last year’s competition, where all four members of the Korean team

Telecom bets on AI-RAN to win global 6G standards race

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

Telecom operators are racing to develop artificial intelligence-powered radio access networks (AI-RAN), betting the technology will emerge as the defining infrastructure layer of the 6G era as AI data centers, industrial robots and autonomous systems drive unprecedented demand for computing at the network edge. Unlike conventional radio access networks, AI-RAN allows base stations to process AI workloads alongside wireless traffic at the network edge, reducing latency and improving network efficiency. The technology is widely viewed as a critical building block for 6G, supporting applications ranging from smart factories and autonomous vehicles to humanoid robots. The push comes as the government seeks to position Korea as an early leader in the next generation of wireless technology. Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon shared that the ministry is working with telecom operators on a framework for 6G, saying Korea has an opportunity to take the lead in the next generation of wireless technology. "In a sense, Korea has room to take the lead in 6G. There are

Is CXMT real threat to memory dominance of Samsung, SK hynix?

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

During Thursday's trading session, SK Group Chairman Chey Tae-won purchased 4.9 billion won ($3.41 million) in SK hynix shares for the first time, buying just below the threshold that would have required him to disclose the transaction plan 30 days in advance. SK Group said the purchase reflected Chey's view that the recent sell-off in SK hynix shares had been excessive and his confidence in the company's competitiveness. SK hynix shares hit an all-time intraday high of 2.987 million won on June 25 before tumbling to 1.322 million won at Thursday's close. Although the stock rebounded on Friday, investors are still concerned that global Big Tech companies’ artificial intelligence (AI) infrastructure spending may have peaked, and the memory chip market may face a supply glut. At the center of those fears is China’s ChangXin Memory Technologies (CXMT), whose blockbuster stock market debut has reignited concerns over the future balance of the global memory market. The Chinese DRAM maker raised 12.56 trillion through its initial public offering on July 27, fueling expectations that the f

State arms agency, Hanwha Ocean ink final deal for 7.8 tril.-won Navy destroyer project

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

Korea's state arms procurement agency officially concluded a deal with Hanwha Ocean on Friday to kick-start the development of a next-generation Navy destroyer, with the aim of delivering the lead ship to the Navy by 2032. The Defense Acquisition Program Administration (DAPA) said it inked the deal with Hanwha Ocean on detailed planning and construction of the lead ship for the Korea Destroyer Next Generation (KDDX) program. Under the 7.8 trillion-won ($5.4 billion) project, South Korea plans to develop six 7,000-ton-class Aegis destroyers, equipped with key weapons systems, such as combat and sonar systems, developed from homegrown technology. With the deal concluded, the defense firm will draw up detailed designs of the envisioned destroyers and assess their operational capabilities, according to DAPA. The move comes nearly a month after Hanwha Ocean beat rival HD Hyundai Heavy Industries as the preferred bidder for the development project by 0.59 point. The project was delayed by over two years as competition between the two firms intensified, even leading to a legal battle, which culm

Hanwha accelerates 3rd-generation succession with clearer roles among chairman's 3 sons

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

Hanwha Group has nearly finalized the group’s succession from its second-generation owner family members to its third-generation ones, clarifying the roles of Chairman Kim Seung-youn’s three sons with a series of promotions and business reshuffling. The high-level promotions, paired with a major corporate spin-off, signal a shift toward performance under a “responsibility-based management” system led by the Kim brothers and supported by seasoned professional executives. The cornerstone of the overhaul is the vertical split of Hanwha Corp. into two entities — a surviving company focused on defense, shipbuilding, energy and finance, and a new company, Hanwha Machinery & Service Holdings (Hanwha M&S), covering machinery, robotics, semiconductor equipment, retail, leisure and food services. The asset split ratio stands at roughly 76 percent for the surviving entity and 24 percent for the new one, with both set to relist on Aug. 25. At the top, Kim Dong-kwan, the eldest son, has been promoted from vice chairman to executive vice chairman — the only executive in the group with tha

Unionized workers at No. 1 internet-only KakaoBank stage 1-day strike

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:20 +0900

Unionized workers at internet-only Kakao Bank launched a full-scale strike Friday over wage increases and other benefits, its union said. The labor union and Kakao Bank's management have been in negotiations over a pay raise and other benefits but failed to narrow differences. According to the union, over 700 unionized workers participated in the one-day strike but did not hold a rally. "We are discussing our future actions," the union said. In the first quarter of the year, Kakao Bank logged an operating income of 211 billion won ($143 million) on revenue of 1.94 trillion won, both quarterly highs. Its parent Kakao Corp. also has been mired in a labor dispute as wage negotiations between management and labor have been deadlocked for the past two months. Kakao's unionized members staged a partial strike in early June.

Lee says S. Korea, Chile can create synergy on critical minerals, defense industry

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:19 +0900

SANTIAGO — President Lee Jae Myung said Thursday that South Korea and Chile can create significant synergy in areas from critical minerals and advanced manufacturing to the defense industry, if they join hands. The South Korean president made the remarks at a South Korea-Chile business roundtable in Santiago, which brought together executives from more than 20 South Korean and Chilean companies to explore joint business opportunities. "I am confident that we can create remarkable synergy through cooperation in various areas, including not only the distribution and utilization of critical minerals but also advanced manufacturing and the defense industry, if our two countries join forces," Lee said. The president described South Korea and Chile as optimal partners for cooperation that share deep trust, highlighting Chile's rich critical mineral reserves and South Korea's strengths in advanced manufacturing. The president also expressed hope that the two countries will work together to turn change in the global economic order into opportunities for shared prosperity. Santiago was the secon

GSK Korea highlights preventive health care as key to tackling ageing challenge

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:19 +0900

GSK Korea is calling for a shift toward preventive health care as the country's rapidly ageing population puts growing pressure on its health care system, emphasizing that prevention should play a larger role in promoting healthier lives and ensuring its long-term sustainability. The company recently received the Campaign of the Year Award at the British Chamber of Commerce in Korea Business Awards for its Healthy Ageing Korea campaign, an initiative that combines policy engagement, public awareness activities and community programs. "This recognition is particularly meaningful because it acknowledges not only a successful campaign, but also a collective effort to address one of Korea's most pressing societal challenges: the transition to a super-aged society," GSK Vice President and General Manager Korea Gunnar Riediger told The Korea Times in a written interview. He noted that Korea officially became a super-aged society in 2025, with people aged 65 and older accounting for 20.3 percent of the population. The company launched the campaign in response to the growing need to move beyond

NC, Shengqu Games sign deal to bring Aion 2 to China

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:19 +0900

NC, the video game company formerly known as NCsoft, entered a partnership with China's Shengqu Games to publish its MMORPG (massively multiplayer online role-playing game) Aion 2 in China, the Korean company said Friday. The two companies signed the agreement Wednesday at a ceremony in Shanghai attended by NC co-CEO Kim Taek-jin and Shengqu Games CEO Feng Cheng. NC and Shengqu Games have partnered since 2009, when the original Aion launched in China. Under the agreement, Shengqu Games will handle the Chinese publishing of Aion 2. The company opened an official Chinese website for the game Wednesday and unveiled its local service name, Eternal Tower 2. Further details, including a launch schedule, will be announced later, NC said. "Aion 2 realized the ideals the original game sought to achieve at an even higher level of quality," Kim said, adding that NC would do its best to make the game "a title that creates new value in China's MMORPG market and stays in players' memories for a long time." Feng described Aion 2 as more than a sequel, calling it "an innovative new title that combines NC'

LG unveils 750 bil.-parameter frontier AI model K-EXAONE 2.0

Tomas Kauer - International News Writer and Moderator — Fri, 31 Jul 2026 21:00:19 +0900

LG AI Research said Friday it has released K-EXAONE 2.0, Korea's largest artificial intelligence (AI) model with 750 billion parameters, to the open-source community Hugging Face. The model is intended for submission to the Korean government's National AI Foundation Model project, which aims to foster foundation models developed from scratch using domestic technology. The 2.0 model has more than tripled its parameter count from the 1.0 version that LG AI Research previously submitted for the project. LG AI Research also adopted the Apache 2.0 license for K-EXAONE 2.0, allowing unrestricted commercial use. The model scored an average of 70.1 across 24 benchmark evaluations, more than 10 percent higher than the 63.3 recorded by K-EXAONE 1.0. In particular, its average performance across three key coding and agentic coding benchmarks improved by 30 percent. In global and Korean long-context comprehension benchmarks (OpenAI-MRCR and Ko-LongBench), the model scored 94.4 and 89.6, respectively, outperforming Zhipu's GLM-5.1. In an agentic tool-use benchmark (Tau3-Bench Banking), the model score

LG builds music studio for descendants of Ethiopian veterans of Korean War

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

During the darkest days of the 1950-53 Korean War, an elite contingent of Ethiopian soldiers traveled thousands of miles across oceans to defend a nation they had never known. The Kagnew Battalion — whose name translates to "destroyers of the enemy" — compiled a legendary record on the central front, engaging in 253 battles with no prisoners of war surrendered. Today, the blood shed by those 6,000 soldiers remains a fundamental bedrock of Korea's modern peace and prosperity. Seven decades later, that historical debt is being repaid through music. Korean electronics giant LG on Friday announced a comprehensive support program for the Kagnew Choir, a musical ensemble composed of third-generation descendants of the Ethiopian veterans. In collaboration with Korea's Ministry of Patriots and Veterans Affairs and the nonprofit Warm Mind, LG will construct a state-of-the-art practice studio inside the Korean War Veterans Hall in the Ethiopian capital of Addis Ababa, equipped with soundproofing, audio systems and digital IT hardware. Since its founding in 2018, the choir had operated without

Hyundai Motor workers to extend strikes for higher wages

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Hyundai Motor's union said Friday its workers will extend partial strikes next week in a bid to secure higher wages, raising concerns about production disruptions at South Korea's largest automaker. Hyundai workers already staged partial strikes this week, with employees on the day and night shifts each walking off the job for four hours a day from Monday through Wednesday after failing to reach a wage agreement with the company, according to the union. The union plans to stage four-hour strikes during their respective shifts from Wednesday to next Friday, marking its third round of walkouts this year. The two sides have held 15 rounds of wage negotiations this year but have failed to narrow their differences over pay. The 40,000-member union is demanding a 149,600-won increase in monthly base pay and a performance-based bonus equivalent to 30 percent of the company's net profit for last year. The maker of Sonata sedans and Palisade sport utility vehicles (SUVs) posted a net profit of 10.36 trillion won ($7.07 billion) last year. The company, however, has offered an 80,000-won increase in

T'way Air expands flights to Sydney as long-haul bet pays off

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

T'way Air's first long-haul route has become one of the budget carrier's biggest success stories, surpassing 400,000 cumulative passengers as the airline prepares to expand daily service between Incheon and Sydney later this year. The carrier said Friday that its Incheon-Sydney route has carried more than 400,000 passengers since launching in December 2022, underscoring steady demand for both leisure and business travel between Korea and Australia. The route has operated 1,350 flights since its debut and has transported an average of about 120,000 passengers a year. The airline said the service has consistently maintained an average load factor close to 90 percent, making it one of the company's strongest-performing long-haul routes. The milestone also reflects continued growth in exchanges between Korea and Australia following the pandemic, with the route supporting both passenger travel and cargo transportation, the airline said. Beyond passenger traffic, the route has become an increasingly important cargo corridor using the belly cargo capacity of the Airbus A330 aircraft. The airline

SK chairman ordered to pay $644 mil. in cash in property division retrial

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

SK Group Chairman Chey Tae-won was ordered Friday to pay 944 billion won ($644 million) to his former wife, Art Center Nabi Director Roh Soh-yeong, in a retrial of their high-profile property division lawsuit. The Seoul High Court handed down the ruling during a hearing, concluding the latest round of the long-running dispute over the division of the couple's marital assets. The court treated Chey's stake in SK Inc., the group's holding company, as property subject to division. The court said a third of Chey’s share property is subject to Roh and two thirds to him. The court added Chey should pay in cash for any insufficient amount of share due for Roh. The court said it has calculated the property division using an earlier appellate court's closing date of April 16, 2024. “Although SK’s share price rose significantly between the close of arguments in the appellate trial and that of the remanded trial, it cannot be said that Chey’s managerial contributions had no impact," the court said. The court, however, added that “to ensure an equitable division of marital property, the sub

Mind against machine: World's top hackers, AI agents clash in Seoul

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Inside the sprawling, subterranean convention halls of Coex in southern Seoul this week, the battlefield was entirely silent, marked only by the rhythm of frantic keystrokes and the blue glow of monitors. More than 3,300 digital combatants from 88 countries had spent months attempting to breach lines of code. By Thursday, only a select few remained for the main event: Codegate 2026, Korea’s premier international hacking defense tournament and one of the world’s most prestigious arenas for white-hat hackers. Now in its 18th year, the annual event has evolved far beyond a routine cybersecurity convention. In an era where artificial intelligence (AI) threatens to supercharge digital warfare, Codegate has become a critical proving ground — a place where the world's elite ethical hackers stress-test the digital infrastructure powering our interconnected lives. This year's competition delivered high-stakes drama. In the open division, Japanese powerhouse squad BunkyoWesterns claimed top honors and the 50 million won ($36,000) grand prize, navigating complex cryptographic puzzles and syst

Align Partners' BNK-JB merger proposal draws fierce regional opposition

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Activist fund Align Partners Capital Management's proposal to merge BNK Financial Group and JB Financial Group has sparked fierce opposition from regional business groups and labor unions, which argue the deal would prioritize short-term shareholder returns at the expense of the public role and regional identity of local lenders, industry officials said Friday. Align holds a 14.83 percent stake in JB Financial, making it the group's second-largest shareholder, and owns more than a 1 percent stake in BNK Financial. JB Financial is the holding company of Jeonbuk Bank and Kwangju Bank, while BNK Financial controls Busan Bank and Kyongnam Bank. The activist fund has urged the two regional financial groups to review the strategic merits of a merger, arguing that consolidation would strengthen their long-term competitiveness. At a July 14 press conference, Align CEO Lee Chang-hwan asked the companies to announce by Aug. 7 whether they would begin a formal review and disclose any implementation plan when they report third-quarter earnings. The proposal has since faced mounting opposition from r

RDA's seed vault preserves global vegetable genes

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

The Rural Development Administration (RDA) will next month mark the 18th anniversary of its Global Seed Vault's designation as Asia's first official preservation center for vegetable seeds from around the world. The designation followed a partnership agreement the agency signed with the Germany-based Global Crop Diversity Trust in 2008. The trust was jointly established in 2004 by the United Nations' Food and Agriculture Organization and the Consultative Group on International Agricultural Research for protection of the seeds. The RDA said Friday it will expand its services on safety duplication of the genetic sources of agricultural produces from around the world. The agency believes the efforts will contribute to strengthening Korea's agricultural cooperation with the international community. The Global Seed Vault in Jeonju, North Jeolla Province, currently protects 336,872 types of vegetable seed from 12 national agencies in countries around the world, as well as Korean universities, local governments and research institutes. The World Vegetable Center in Taiwan stores more than 52,0

Confectionary, bread makers to raise prices amid inflationary pressures

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Confectionary and food makers decided to increase prices of their products amid persisting cost pressure stemming from the war in the Middle East, according to the companies Friday. Nongshim, the producer behind the globally popular Shin Ramyun, decided to increase the wholesale price of products from 43 brands by an average of 5.8 percent starting next month, which included cup noodles, snacks and beverages, the company said. Following the increase, the retail price of the company's flagship Shrimp Crackers is expected to increase to 1,600 won ($1.09) from 1,500 won. It marks the first time in 17 months since the company raised the price of the snack brand. Nongshim explained the latest price hike was an "inevitable" decision, given worsening business conditions and increasing cost pressures, due to the Korean won's depreciation and rising oil prices amid escalating tensions in the Middle East. But the company decided to exclude packaged instant "ramyun" from the price hike this time, in an effort to tame inflation, despite it accounting for 63 percent of its sales, it said. CJ Foodville

Joint Korea-Japan fund bets big on Jeju Island's tech startups

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Long celebrated for its volcanic peaks and coastal tourism, Korea’s Jeju Island is engineering a new identity as a cross-border tech incubator. Local authorities said Friday that a newly launched 10.1 billion won ($7.3 million) venture fund — backed jointly by Korean capital, local enterprises and Japan-based ethnic Korean investors — has deployed its debut capital investment, signaling a fresh pipeline of cross-border funding for regional entrepreneurs. The fund's premier investment goes to Seropim, an artificial intelligence (AI) startup specializing in 3D content creation tools aimed at the global media and gaming markets. Jointly managed by the Jeju Center for Creative Economy and Innovation and Sevenstar Partners, the fund selected Seropim after a rigorous screening process involving more than 15 investor pitch sessions and detailed financial audits. The Startup Korea Korea-Japan Jeju Fund was established specifically to solve a chronic hurdle for regional entrepreneurs: securing early-to-mid-stage capital while building bridges to international markets, particularly Japan an

Korean shipbuilders step up US shipbuilding cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 24 Jul 2026 21:00:45 +0900

Korea's three major shipbuilders — Hanwha Ocean, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Samsung Heavy Industries — are expanding cooperation with the United States across a wide range of areas. Taking the launch of the Korea-U.S. Shipbuilding Partnership Center as an opportunity, they are broadening partnerships in naval ship design and construction, smart shipyard development, workforce training and supply chain expansion, positioning themselves as key contributors to Washington's efforts to rebuild its shipbuilding industry. The two countries had previously agreed to allocate $150 billion of a broader $350 billion investment package toward shipbuilding cooperation. Hanwha Ocean signed a Professional Services Agreement with Leidos to design the Global Fast Sealift (GFS), advancing an April memorandum of understanding (MOU) to collaborate on next-generation naval ship design, strengthen U.S. shipbuilding capacity and pursue global defense opportunities. Leidos subsidiary Gibbs & Cox has designed more than 70 percent of U.S. Navy surface combatants since World War

Lee calls for increasing agricultural subsidies to protect food security, ensure farmers' livelihoods

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 18 (Yonhap) -- President Lee Jae Myung has called for increasing agr...

(EDITORIAL from The Korea Times on July 17)

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

Artificial intelligence (AI)-led growth and transformation is inevitably part of...

(LEAD) Regulator raises minimum deposit requirement for leveraged ETFs amid wild swings

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 16 (Yonhap) -- South Korea's financial regulator on Thursday unveile...

(LEAD) Creditor to extend fresh funding for cash-strapped retailer Homeplus

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 16 (Yonhap) -- The main creditor of Homeplus Co. decided Thursday to...

Hyundai Motor workers to extend strikes over pay dispute

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 16 (Yonhap) -- Hyundai Motor's union said Thursday its workers will ...

Regulator unveils measures on leveraged ETFs amid wild swings

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 16 (Yonhap) -- The country's financial regulator on Thursday unveile...

(2nd LD) Seoul shares fall again, dropping over 6 pct on tech losses amid Middle East tensions

Tomas Kauer - International News Writer and Moderator — Sat, 18 Jul 2026 21:00:35 +0900

SEOUL, July 16 (Yonhap) -- Seoul shares again plummeted Thursday, led by steep l...

MODERNhan promotes Korean alcohol, hanbok worldwide

Tomas Kauer - International News Writer and Moderator — Fri, 17 Jul 2026 21:00:31 +0900

The global rise of K-culture, driven by foods, beauty products, music and traditional heritage, has introduced the country to consumers around the world. However, a more sophisticated and strategic approach is needed to help them experience deeper culture and further sustain trade, according to the head of a Seoul-based event planner dedicated to promoting the country’s heritage. Cho In-sun, CEO of MODERNhan, plans and executes events involving Korean traditional culture including hanbok, or Korean traditional attire, and traditional alcoholic beverages. Through these events, she aims to promote Korea's cultural heritage to international visitors and other overseas consumers in a more engaging and immersive way. Her latest project debuted on Sunday when she opened a gallery-slash-store in central Seoul's cultural Insa-dong neighborhood dedicated to Korean alcoholic ranging from traditional brews to modern spirits. Over 160 kinds of alcohols and a design glass to go with each of them are showcased inside the cozy space in the Seoul hotspot concentrated with businesses inspired by Korea

SK chief says SK hynix shares likely to trend upward on strong memory chip demand

Tomas Kauer - International News Writer and Moderator — Fri, 17 Jul 2026 21:00:31 +0900

SK Group Chairman Chey Tae-won said Friday that shares of chipmaker SK hynix Inc., a key affiliate of his group, are likely to trend upward over the long term, citing sustained demand for memory chips. Chey, who also serves as chairman of the Korea Chamber of Commerce and Industry (KCCI), made the remarks during a forum hosted by the KCCI amid heightened volatility in the chip giant's shares. "I don't know where the stock price will be next month, but holding onto the shares rather than buying and selling them frequently is a good way to preserve your wealth," Chey said. Shares of SK hynix listed on the benchmark Korea Composite Stock Price Index (KOSPI) have nearly tripled since the beginning of the year, although they have recently shown heightened volatility. The shares tumbled 11.53 percent to close at 1,842,000 won (US$1,243) on Thursday. "Memory chips will continue to be needed, so their value will trend upward over time," Chey added. SK hynix established its leadership in the high bandwidth memory (HBM) market by moving early into the technology and becoming a key supplier to Nvidi

'AI race shifts from building models to rebuilding companies'

Tomas Kauer - International News Writer and Moderator — Fri, 17 Jul 2026 21:00:31 +0900

JEJU ISLAND — Companies hoping to gain an edge in the artificial intelligence (AI) era should spend less time chasing the latest models and more time redesigning their organizations, as autonomous AI agents move closer to mainstream enterprise adoption, speakers at the 2026 CEO Summer Forum hosted by the Federation of Korean Industries (FKI) said Friday. As generative AI evolves rapidly from a conversational assistant into a technology capable of executing increasingly sophisticated tasks, businesses now face the challenge of transforming decades-old workflows and adapting to the new AI era. Park Min-jun, CEO of Wrtn AX, an enterprise-level AI agent solutions provider, said the focus of AI competition was shifting away from the technology itself toward organizational transformation. “For the past several years, businesses have largely competed by adopting increasingly capable large language models, but with leading models now approaching similar levels of performance in many business applications, competitive advantage will increasingly depend on how effectively companies reorganize

'AI for everyone' gov't initiative faces feasibility questions

Tomas Kauer - International News Writer and Moderator — Fri, 17 Jul 2026 21:00:31 +0900

The government plans to roll out a general artificial intelligence (AI) service allowing unlimited use for all Koreans without any fees, but the initiative is facing questions about its feasibility, particularly over how it would cover token costs and ensure the operator's financial sustainability. During a policy briefing with President Lee Jae Myung Thursday, the Ministry of Science and ICT announced that it will introduce “a ChatGPT-like chatbot service” by using Korea’s proprietary AI model by the end of this year. The government also plans to integrate public services into the platform, allowing users to search and apply for government services through the AI model. Once the service gets on track, the government plans to upgrade it next year into an AI agent that will offer greater accessibility than a chatbot, with the goal of providing every Korean with a personal AI agent. "In addition to a general-purpose AI chatbot service, we will continue to expand public AI agent services," Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon said. "Starting in 2027, we

Price to be key as Samsung takes on Meta in smart glasses

Tomas Kauer - International News Writer and Moderator — Fri, 17 Jul 2026 21:00:31 +0900

Samsung Electronics is expected to reveal its smart glasses series at the upcoming Galaxy Unpacked July 2026 in London next week, with the company seeking to challenge Meta's dominance in the market. Market observers say smart glasses will become the next battleground for global device makers in the wake of physical artificial intelligence (AI), and pricing is expected to play a key role in determining market leadership. Samsung Electronics in May unveiled two designs of its smart glasses, developed in partnership with eyewear brands Gentle Monster and Warby Parker. Scheduled to debut in the global market this autumn, Samsung said the smart glasses will allow users to access Google's Gemini AI for navigation, location recommendations, real-time voice translation and text message summaries. The Samsung glasses will reportedly feature a built-in camera, speakers and microphones — primarily serving as the eyes for an AI in paired smartphones. They are not expected to include a display function, but are expected to weigh around 50 grams, offering improved comfort compared to existing smart

(LEAD) SK hynix debuts on Nasdaq to raise US$26.5 bln amid soaring AI demand