SK Group Chairman Chey Tae-won said Friday his business group will make efforts to build a new semiconductor cluster in the southwestern part of the country as quickly as possible to meet growing global demand. Chey made the remarks during a visit to Gwangju Air Base in the southwestern Jeonnam-Gwangju region, where SK hynix Inc. has proposed building a new chip cluster. "Once the conditions are met, we plan to build (the new cluster) as quickly as possible," Chey said. "Demand for chips is growing rapidly, and the current situation requires us to accelerate the pace of supply to keep up with demand," he added. The chairman said the group still needs to determine when construction will begin but stressed that it intends to break ground as soon as possible. Chey noted that demand for chips is expected to grow significantly, adding that the proposed cluster will be around two-thirds the size of the one currently under construction in Yongin, just south of Seoul. It marked Chey's first visit to the region since the conglomerate unveiled its building plan in June. Earlier in the year, SK hynix

The Cove lineup consists of three speakers, and can even work with JBL soundbars to create a home theatre setup.

Oliver Curtis’ comeback was meant to end with the biggest float since Telstra. It ended with bankers going to ground and a plan B in New York.

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Samsung Electronics on Thursday estimated 107.4 trillion won ($80.28 billion) in operating profit for the third quarter, becoming the first Korean company to surpass 100 trillion won in quarterly operating profit. In a regulatory filing, the company said its third-quarter operating profit and revenue are each estimated at 107.4 trillion won and 195 trillion won, respectively. If the figures are finalized when the company announces its full earnings results on Oct. 29, they would represent year-on-year increases of 782.5 percent in operating profit and 126.6 percent in sales. Beside Samsung, no other company in the world expect for Saudi Arabia's state-owned oil company Aramco has posted a quarterly operating profit exceeding that amount. Aramco reported $86.5 billion in operating profit in the second quarter of 2022. The operating profit surpassed brokerages’ consensus estimate of 106.64 trillion won, though sales fell slightly short of the 200.64 trillion won forecast. The earnings are particularly significant as they exceeded expectations despite concerns that the Korean won's sharp

Hyosung Heavy Industries, the power equipment and grid infrastructure unit of Korean conglomerate Hyosung Group, has built a facility to test the performance of its 2-gigawatt high-voltage direct current (HVDC) controller, marking a first for Korea using homegrown technology, the company said Thursday. The hardware-in-the-loop simulation system, recently installed at the company's research center in Gwacheon, Gyeonggi Province, links an actual HVDC controller to a simulated 2-gigawatt converter valve and power grid. This lets engineers check how the controller responds under conditions close to those of a real grid, the company said. HVDC technology converts alternating current into direct current to carry large amounts of electricity over long distances with less power loss. A 2-gigawatt system requires two to three times as many test scenarios, such as grid faults and emergencies, as a 200-megawatt one, according to the company. The simulator can reproduce hazardous situations that are difficult to test on a live grid and run them repeatedly over long periods, it said. Hyosung said it d

Korea's leading office software developer, Hancom, is taking its Nomadian artificial intelligence (AI) workforce platform to the U.S. market, teaming with Amazon Web Services to shape everything from product design and pricing to marketing and distribution. Hancom said Thursday that it will work with AWS on a 10-week program called Hancom x AWS CoLab as it prepares to launch Nomadian in the U.S. The program will cover product development and market strategy, with AWS supporting development in its cloud environment while both companies examine market size, customer willingness to pay, pricing and revenue models. Hancom will lead product vision and key decisions, while CoLab will use Amazon’s Working Backwards approach to map out its initial customers, market-entry strategy and launch road map. Hancom and AWS held a kickoff meeting Sept. 21, attended by business development and sales representatives from Hancom and AWS technology. Nomadian is designed for solo entrepreneurs, allowing users to assemble teams of AI agents for roles including data analysis and content marketing and assign wo

Korea is not considering to replace the term artificial intelligence (AI) with “super intelligence,” or SI, according to the Ministry of Science and ICT, distancing itself from a terminology push underway in the United States. An official from the ministry told The Korea Times that the government has no plans of replacing AI with SI. “There has been no consideration at our level of using such terminology,” the official said on Tuesday. The clarification came after Deputy Prime Minister and Science Minister Bae Kyung-hoon, during a National Assembly audit earlier in the day, used the term SI while describing U.S. efforts to secure leadership in advanced AI competition. The Donald Trump administration has been promoting the use of SI instead of AI. Trump signed an executive order titled "Inaugurating the Era of Super Intelligence" on Sept. 29, requiring federal executive agencies to use SI instead of AI in official documents, including websites, reports and policy papers. The shift has also drawn attention from the private sector. Elon Musk has said he plans to rename SpaceX’s AI

Nearly 1.5 trillion won ($1.1 billion) worth of shares held by the Korea Securities Depository (KSD) remain unclaimed by some 26,000 shareholders, data showed Thursday. According to data released by Rep. Han Min-soo of the ruling Democratic Party of Korea, the KSD held 800.84 million unclaimed shares worth a combined 1.47 trillion won as of the end of August. Unclaimed shares typically arise when shareholders fail to claim shares issued through rights offerings, bonus issues or stock dividends. Shareholders may be unaware of the newly issued shares or miss notifications after changing their addresses. In such cases, the shares are held by the KSD or other designated transfer agents until their rightful owners claim them. The value of unclaimed shares rose by about 26.4 billion won in the first eight months of this year, from 1.44 trillion won at the end of last year, when 763.54 million shares remained unclaimed. The number of shareholders with unclaimed shares also increased by 931, from 25,349 at the end of last year to 26,280 as of August. The figure included 22,526 individual sharehol

The Ministry of Food and Drug Safety on Thursday approved Hanmi Pharmaceutical's Eppe, Korea's first domestically developed glucagon-like peptide-1 (GLP-1)-based obesity treatment. Eppe is the 45th novel drug developed in Korea and the country's first domestically developed GLP-1-based obesity drug. It has been approved in five doses: 2, 4, 6, 8 and 10 milligrams. According to the ministry, the injectable drug is intended for chronic weight management in adults with obesity or for those who are overweight and do not have diabetes, as an adjunct to a reduced-calorie diet and exercise. The drug was initially licensed out to global pharmaceutical company Sanofi in 2015 as a diabetes treatment, but the rights were returned in 2020. Hanmi Pharm then decided to develop the drug as its own obesity treatment. Eppe was initially expected to become Korea's 44th domestically developed new drug, but became the 45th after an eye treatment jointly developed by Aju Pharm and GL Pharm Tech received approval on Sept. 8. Eppe is set to compete with leading GLP-1-based obesity treatments such as Wegovy and

Controversy has resurfaced over SK hynix’s reported efforts to list its NAND flash memory subsidiary Solidigm in the U.S., after reports said the company had selected lead managers for an initial public offering (IPO), despite repeatedly maintaining that “nothing has been confirmed.” In an effort to protect retail investors, Korean financial regulators have introduced rules that prohibit parent-subsidiary listings in the domestic market in principle while allowing exceptions under certain conditions. However, because Solidigm is seeking an overseas listing, the case has raised questions over whether SK hynix could face regulatory penalties if it fails to comply with shareholder protection requirements. Bloomberg reported Thursday that Solidigm has selected Goldman Sachs and Morgan Stanley as lead underwriters for its planned IPO in the U.S. next year. The offering, if pursued, is expected to raise approximately $10 billion and value the NAND flash memory maker at up to $100 billion. Solidigm's parent company, memory chip giant SK hynix, has maintained that no decision has been mad

Automobili Lamborghini Korea unveiled two of its latest high-performance models, Thursday, highlighting the country as the first Asia-Pacific market to see the Urus SE Performante and Revuelto SV. The event marked a major milestone for Lamborghini in Korea, with the brand also celebrating the delivery of its 3,000th vehicle in the country since Volkswagen Group Korea began operating the brand’s local import business. The Urus SE Performante, a high-performance plug-in hybrid SUV, and the Revuelto SV, a limited-edition plug-in hybrid super sports car, represent Lamborghini’s latest push to combine electrification with its performance-focused brand identity. The Urus SE Performante combines a twin-turbo eight-cylinder engine with an electric motor, producing a combined 812 horsepower. The Revuelto SV, based on Lamborghini’s 12-cylinder hybrid architecture, delivers more than 1,000 horsepower and will be limited to 1,963 units globally, commemorating Lamborghini’s founding year of 1963. “Korea is the No. 2 market in the Asia-Pacific region (in terms of the number of vehicle delive

Tesla Korea’s vehicles equipped with supervised Full Self-Driving (FSD) will be facing tighter scrutiny after the company came under criticism during the National Assembly’s annual audit, Thursday, over the system’s lack of an official safety evaluation by relevant authorities in Korea. Some 45,000 U.S.-made Tesla vehicles equipped with FSD are currently on Korean roads, but the autonomous driving system has not undergone a government safety test. During the audit, Tesla Korea Country Manager Seo Young-deuk said the company plans to seek formal approval for FSD in Korea. He acknowledged that it has not officially requested testing by the Ministry of Land, Infrastructure and Transport or the Korea Transportation Safety Authority — two key authorities related with auto safety certification. “We have not requested any tests from the authorities,” Seo said. “If the government establishes a system and channel for verification, we will actively undergo the evaluation.” U.S.-made Tesla vehicles can currently operate with supervised FSD in Korea. More than 70 percent of Tesla Kor

E-commerce firm Coupang Corp. has filed lawsuits against 620 billion won ($462 million) in fines levied by a state-run data protection agency over its massive data leak, sources said Thursday. According to the sources, Coupang has filed two separate suits with the Seoul Administrative Court seeking to nullify the fines imposed by the Personal Information Protection Commission in June this year. The Commission fined Coupang a record 624.7 billion won over privacy violations, including a massive data breach that affected more than 37 million users. The amount breaks down to a record fine of 423.6 billion won for the data breach and levies an additional 201.1 billion-won fine for the unauthorized collection of records of online user activities and other violations. It marked the largest fine ever imposed by the regulator on a single company, according to the commission. The punitive measures came more than six months after Coupang belatedly reported a large-scale data breach last November of personal information of users in Korea, including their names, phone numbers and delivery details. The

Meta Platforms’ breakout Muse personal AI agent is shining a spotlight on a new battleground in artificial intelligence – one in which China’s biggest internet companies are already jostling for position. Launched on September 8, Muse surpassed 2.5 million downloads in its first two weeks and topped free-app rankings on Apple and Google’s US app stores. Its popularity has drawn fresh attention to the emerging market for what are known as agent harnesses. Unlike chatbots, which merely respond to...

Alibaba Group Holding is expected to report a 50 per cent revenue surge for its cloud and artificial intelligence unit for the September quarter, driven by strong returns on its aggressive AI investments, according to analysts. Analysts across several financial institutions projected revenue growth for the Chinese tech giant’s AI Cloud and Compute Services unit to have accelerated in the three months ended September 30, up from the 45 per cent growth seen in the preceding quarter. The unit’s...

US artificial intelligence company Anthropic has introduced Chinese-language options to its Claude chatbot in supported markets, even as it continues to block users from mainland China. Checks by the South China Morning Post on Thursday confirmed that Claude’s web interface now lets users select simplified and traditional Chinese as their preferred on-screen language. China also briefly appeared as a billing country option before disappearing from the settings. Users on X have shared screenshots...

When I took out the US$3,500 Huawei Mate XT 2 over a family dinner during China’s “golden week” – the long National Day holiday in early October – the trifold phone quickly became the centre of discussion: my father and his peers took turns playing with the device, marvelling at the sleek design while debating whether it was true innovation or pure luxury. It wasn’t the first time unfolding its massive 10.2 inch display raised a few eyebrows at dining tables during the week I spent trying out...

The man once best known as Roxy Jacenko’s husband is running a start-up that had seemed destined to be the biggest Australian stockmarket listing since Telstra. Until now.

RTX Spark laptops will start shipping from 16 October, while NVIDIA is also bringing its more powerful DGX Station platform to Windows.

The LG-branded smart home products are reportedly designed to work with Apple’s upcoming smart home hub.

Mathematicians have lashed out after the AI giant released hundreds of new findings.

Dr Adam Lee has a memorable way of explaining his job. As a cardiac electrophysiologist, he likes to think of himself as an “electrician of the heart”.

General Motors (GM) Korea’s decision to bring to market its first Buick model — imported entirely from China — is putting its multi-brand strategy at odds with its commitment to local production, experts and industry officials said Tuesday. Last week, the carmaker unveiled Buick, positioning the premium brand as a key pillar of the strategy to offer consumers a wider range of products, along with its other brands, such as GMC, Cadillac and Chevrolet. But since Buick’s first model, the Electra E7 plug-in hybrid electric vehicle (PHEV), will be imported from China, the latest decision has also renewed questions about GM Korea’s long-term commitment to domestic production. In March, GM Korea announced a $600 million (806 billion won) investment plan to expand its production infrastructure. At a media briefing, GM Korea CEO Hector Villarreal highlighted the benefits of operating multiple brands and providing customers with greater choice. But when asked whether Buick or other new models could eventually be produced in Korea, Villarreal did not offer a specific commitment. Kim Pil-so

The following is a chronology of major events leading to the fifth launch of Korea's homegrown space rocket Nuri from Naro Space Center in the country's southern coastal village of Goheung on Wednesday. June 4, 1993 — Korea launches the homegrown one-stage solid propelled science observation rocket, called the Korea Space Rocket-I, after three years of development. July 9, 1997 — Korea launches the homegrown KSR-II two-stage solid propelled science observation rocket. It adopted such advanced technologies as guided control and stage separation compared with the previous version. March 26, 2001 — Korea joins the Missile Technology Control Regime, an informal international association that oversees the proliferation of unmanned delivery systems capable of delivering weapons of mass destruction. August 2002 — Korea and Russia confirm plans to develop the Korea Space Launch Vehicle-I (KSLV-I) rocket, with a launch planned for 2005. 2005 — Korea and Russia complete work on critical designs for the KSLV-I. The original launch date was postponed until October 2007. June 11, 2009 — Kor

LS Electric said Wednesday it will set up a joint venture with two affiliates of Taiwan's Formosa Plastics Group to win power infrastructure projects in Taiwan, expanding beyond its current business of supplying electrical equipment there. The Korean maker of power equipment and automation systems signed the agreement Tuesday with Nan Ya Plastics and KHI at LS Yongsan Tower in Seoul. LS Electric will hold 50 percent of the venture, Nan Ya 40 percent and KHI 10 percent. Nan Ya is a core Formosa affiliate that makes petrochemicals, electronic materials and electronics. It has been building a power solutions business, moving from distribution products into extra-high-voltage transmission equipment and grid stabilization, according to LS Electric. KHI was set up last year with Formosa investment to commercialize technologies developed at the Korea Advanced Institute of Science and Technology, a state-run research university. The venture will first build local capacity to handle bidding, design and technical support for Taiwanese power projects. It will combine LS Electric's manufacturing and