HD Hyundai Heavy Industries has signed a contract to build an offshore substation for a wind farm in waters off Taean, South Chungcheong Province, as it expands its presence in the offshore wind market. The company announced on Friday that it recently signed a contract with Taean Wind Power to carry out the engineering, procurement, fabrication, installation and commissioning of an offshore substation for the wind farm. Taean Wind Power is a joint venture between Singapore-based renewable energy company Vena Energy, Danish investment and development firm Copenhagen Infrastructure Partners (CIP) and state-run Korea Western Power. An offshore substation is a key facility that transmits electricity generated by turbines at an offshore wind farm to shore. The offshore substation to be built in Taean will step up the voltage of electricity generated by a 500-megawatt wind farm before transmitting the power to shore. HD Hyundai Heavy Industries secured the project through a series of agreements, signing a front-end engineering design contract in March, followed by a preferred supplier agreement

Genetically modified organism (GMO) components were detected in 99.3 percent of U.S. soybean import cases tested over the past decade, trade data showed Friday, raising calls for Korea to diversify its soybean import sources. According to Korea Agro-Fisheries & Food Trade Corp. data submitted to Rep. Song Ok-joo of the Democratic Party of Korea, Korea imported 1.6 million tons of U.S. soybeans between 2017 and September 2026, accounting for 91.5 percent of its total soybean imports during the period. GMO components were detected in 399 of 402 U.S. soybean import cases, or 99.3 percent. Canadian soybeans were imported in 45 shipments totaling 29,469 tons, with GMO components detected in 57.8 percent of the cases. In contrast, no GMO components were detected in soybeans imported from China or Russia. Chinese soybeans totaled 112,124 tons in 18 shipments, accounting for 6.4 percent of total imports, while Russian soybeans totaled 7,870 tons across five shipments. The data came amid recent controversies over GMO detection in soybean-based foods such as tofu, soy milk and fermented soybean pa

Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, said Friday that it expanded its artificial intelligence (AI)-powered market analytics platform with real-time tools that summarize broad market trends and pinpoint the reasons behind price movements for individual digital assets. Upbit Data Lab, launched in April 2025, is the exchange's analytics platform offering crypto indexes, sector data and blockchain analysis. The new "AI Market Report" is a video of 90 seconds or less that draws on the Upbit composite index, major asset prices, top gainers and losers, and market sentiment indicators, with AI selecting key issues based on price moves and market impact. It is released at 10 a.m. on weekdays on Upbit Data Lab and Upbit's official YouTube channel. A second new service, "Uptrace," tracks price data and related news for individual assets to identify the main factors behind price changes. Users can click diamond-shaped icons on an asset's chart to see the AI analysis and related news for that point in time. Dunamu also reorganized its existing "AI News Briefing" in

Some variants of Huawei Mate 90 series phones use the new Kirin 9050 Pro processor, which is built upon Huawei’s new LogicFolding Tau chip architecture.

Vivo has unveiled the X Fold6 globally, combining a book-style foldable design with flagship hardware and a ZEISS-powered camera system.

WhatsApp’s new parental controls are designed to give parents more oversight while keeping teens’ personal messages private.

The contents of the letter had remained a mystery since it was sent to one of his senior generals in 1809.

Behind Korea’s medal-winning athletes are companies that have been in the sports realm for decades, turning sponsorship into technology, training and long-term support. The approach reflects a major shift in how conglomerates are shaping their support for athletics: Sponsorship is increasingly being used to build a long-term relationship with a sport, rather than simply gaining exposure around major competitions. At the 2026 Aichi-Nagoya Asian Games, Korean fencing once again showed the value of that commitment. The national team won 10 medals across men’s and women’s sabre, epee and foil, including four golds. SK Telecom has been backing Korean fencing for 24 years, but its role has evolved far beyond financial support. As the Korean Fencing Federation’s lead sponsor since 2003, the telecom operator has invested 36 billion won ($26.5 million) in the sport, supporting training equipment, overseas competitions and international events. This year, it added artificial intelligence (AI) to that partnership. The Fencing AI Nexus system, developed by the company, uses computer vision an

Seoul and Washington unveiled plans for three investment projects in the United States — a $22.3 billion Texas gas-fired power plant for data centers, a framework to build eight large nuclear reactors and a review of an Alaska liquefied natural gas (LNG) project. The projects are part of a $200 billion investment commitment under a Korea-U.S. agreement signed in November 2025, with the two governments seeking to expand cooperation in energy and other strategic industries while creating new openings for Korean suppliers in the U.S. market. "The colossal package of investments we are announcing today is a major step toward securing our critical energy supply chain, ensuring American energy dominance, and making our partnership with South Korea and the entire Pacific region stronger than ever before," U.S. President Donald Trump said during a press conference in Washington, Wednesday (local time). The Texas power plant project, dubbed Project Star, calls for a 6,472-megawatt combined-cycle gas power plant in Encinal to supply electricity directly to artificial intelligence (AI) data cent

Korean companies are advised to expand their operations in the United States, as bilateral economic ties increasingly extend beyond trade to investment, technology and supply-chain resilience, the American Chamber of Commerce in Korea (AMCHAM) said Wednesday. The U.S. business lobby and the Korea Chamber of Commerce and Industry (KCCI) discussed opportunities and challenges of Korean firms when they expand investment and operations in America during the eighth annual Doing Business in the U.S. Seminar. The seminar was held as part of a special program marking the 250th anniversary of U.S. independence. AMCHAM Chairman James Kim said the economic relationship between the two countries is increasingly driven by the aforementioned sectors, rather than trade alone. “The next chapter of the U.S.-Korea economic partnership will be defined not simply by how much we trade, but by how much we build, invest, innovate and grow together,” Kim said. KCCI Executive Vice Chairman Kim Jeong-il emphasized the need for Korean companies to understand local regulations and business conditions, while buil

SK hynix said Thursday it is reviewing various funding options for its U.S. subsidiary Solidigm but that no decision has been made, reiterating its previous position on reports of a possible U.S. listing. Reports circulated that Solidigm is considering an initial public offering (IPO) in the United States as early as next year that could value the subsidiary at up to $150 billion. "We are reviewing various measures to strengthen Solidigm's competitiveness, but our position remains unchanged and that nothing has been decided," the South Korean chipmaker said in a press release. SK hynix said it continues to review the need for investments to secure Solidigm's production capacity and technological competitiveness. "Capital utilization plans related to Solidigm will be reviewed comprehensively, taking into account the company's overall investment plans, financial condition and capital allocation," the company said. SK hynix added that it would "carefully review potential impacts on existing shareholders and evaluate necessary measures to protect their interests."

LS Electric Co., a Korean electrical equipment maker, said Thursday it has secured a 180 billion-won ($133 million) contract to supply ultra-high-voltage transformers to a major U.S. technology company. The company said it will supply 345-kilovolt transformers for a hyperscale artificial intelligence (AI) data center project being developed by the unidentified U.S. company and scheduled for completion by 2030. Investment in power infrastructure across North America is rapidly increasing amid rising electricity demand driven by the expansion of AI and cloud computing, LS Electric said. The U.S. market for data center power infrastructure is projected to grow at an average annual rate of 16 percent, from 13 trillion won in 2025 to 56 trillion won in 2035. "The latest contract is expected to help the company win further deals in the North American market," a company official said.

With a discrepancy emerging between Korea and the U.S. over a proposed investment of more than $50 billion in the Alaska liquefied natural gas (LNG) project, questions are growing over whether the project can generate sufficient commercial returns for Seoul. U.S. Secretary of Commerce Howard Lutnick said Wednesday (local time) Korea would invest about $54 billion (73.4 trillion won) in the Alaska LNG project, as part of Seoul's $200 billion investment package to Washington. The White House presented the project as a committed investment, while Korea has maintained that participation remains subject to further review of its “commercial reasonableness.” The gap is significant because Alaska LNG has spent more than a decade struggling to demonstrate that it can compete economically with LNG projects closer to major markets. The project would transport natural gas from Alaska’s North Slope through an approximately 1,300-kilometer pipeline to Nikiski, where it would be liquefied and exported primarily to Asian markets. Glenfarne Group owns 75 percent of the project alongside the state-ow

Shinhan Bank apologized Thursday after personal information belonging to about 25,000 customers was leaked in a data breach, as financial regulators launched an urgent inspection into the incident. According to the bank, the leaked information includes customers' names, phone numbers, annual income and loan eligibility limits, as well as other personal and credit information submitted for loan applications. The data also included 66 cases involving resident registration numbers and 97 cases involving connected information. The breach occurred as an unauthorized external party gained access to some of its services through an abnormal method that bypassed authentication. Shinhan Bank CEO Jung Sang-hyuk apologized and said the bank will take full responsibility for any losses. "We take full responsibility for the fact that an information breach occurred at a financial institution entrusted with protecting our customers' valuable assets and information," Jung said in a statement. "I sincerely apologize for causing concern and inconvenience to our customers. We will devote all resources to addr

Paris Croissant, the parent company of global bakery giant Paris Baguette, has nominated Kang Shin-bong, a former Samsung Electronics vice president, as its next chief executive, turning to leadership with experience spanning consumer businesses, digital platforms and global operations as it seeks to reshape its business and find new sources of growth. Kang, who most recently led Samsung Electronics’ Direct-to-Consumer Center, is expected to be formally appointed after approval by the company’s board. His career includes stints at Boston Consulting Group, eBay, Delivery Hero Korea and Samsung Electronics, giving him experience in strategy, e-commerce, platform businesses and international operations. At eBay, Kang oversaw cross-border trading in the Asia-Pacific region and helped expand its international e-commerce business. He later served as chief executive of Delivery Hero Korea, which operated food-delivery platform Yogiyo, where he focused on organizational and operational changes while pursuing business growth and management innovation. At Samsung Electronics, Kang led the globa

Bibigo, the flagship consumer food brand of CJ CheilJedang, is expanding distribution of its frozen gimbap (seaweed rice roll) across major U.S. supermarkets, capitalizing on surging demand for convenient Korean meals. CJ CheilJedang said Thursday that sales of Bibigo gimbap in the United States rose 59 percent during the January-July period from a year earlier, as its retail footprint more than doubled. The frozen gimbap became available at Kroger in December 2024 and has since expanded to 10 mainstream retail chains, including Albertsons, Food Lion, Cub and Meijer. The number of stores selling Bibigo gimbap has reached 4,734, up 145 percent from 1,924 stores last year, according to CJ CheilJedang. The company said it sees room for gimbap to follow the path of dumplings, which moved from an unfamiliar food into everyday American dining. Gimbap’s portability could also work in its favor, as U.S. consumers are accustomed to foods such as sandwiches and burritos that can be eaten without utensils. CJ CheilJedang said Bibigo gimbap contains 12 grams of plant-based protein, positioning it as

North American shoppers are becoming a major revenue driver for GS25, a leading Korean convenience store chain, with foreign spending at its outlets more than doubling this year and expanding beyond traditional tourist districts in Seoul. GS Retail, which operates GS25, said Thursday that sales to North American customers rose 130.9 percent from a year earlier during the January-August period, the fastest growth among international customer groups. North American customers accounted for about 30 percent of GS25’s foreign customer sales, their largest share on record, while customers from Greater China accounted for about 40 percent. The gap between the two groups narrowed to roughly 10 percentage points, according to GS Retail’s analysis of its customer data. North American shoppers showed a preference for canned beer, wine and spirits, as well as sports drinks, energy drinks and other beverages, with canned beer sales particularly strong. Customers from Greater China showed stronger demand for dairy products and convenience foods, including milk, fermented milk products, noodles and

LG CNS has partnered with U.S. investment firm General Atlantic to co-invest in global enterprise technology firms, the IT services unit of Korea's LG Group said Thursday. Enterprise technology refers to business software and artificial intelligence (AI) that support core operations in industries such as manufacturing, finance, logistics and energy. The two sides signed the agreement Sept. 24 at General Atlantic's headquarters in New York. LG CNS President and CEO Hyun Shin-Gyoon and Martin Escobari, General Atlantic's co-president and head of global growth equity, attended the signing ceremony. Under the deal, the two companies will look for and consider investing in enterprise software and AI companies. LG CNS said the size and terms of each investment will be disclosed once a target company is confirmed. General Atlantic manages $130 billion in assets as of June 30. It has more than 900 employees in 20 countries and over 45 years of experience investing in technology companies. LG CNS plans to use the partnership to diversify beyond its information technology services and AI transforma

Finda is stepping up its efforts to innovate its artificial intelligence (AI) and data-driven financial products with the appointment of its first-ever chief product officer (CPO). The fintech company said Thursday that it has appointed Ahn Joong-hyun, former vice president of NEXUS, to the newly created position. Ahn is a fintech veteran with 20 years of experience across the financial and IT sectors, including e-commerce, internet-only banking, financial platforms and blockchain. His experience spans financial service planning, platform development, business model creation and service operations. In particular, he was involved in the launch of several of Korea's major fintech services, including Naver Pay, Toss Bank and Karrot Pay, helping bring new financial products to market. The new CPO was part of the launch team for Naver Pay, where he helped develop its payment services and fraud detection system. At Toss Bank, he designed core financial products and systems, including account opening, fraud detection, anti-money laundering and authentication. He later led Karrot Pay, helping dri

LG Electronics will invest 150 billion won ($110 million) to set up a new U.S. chiller factory and expand production lines in Korea to meet rising demand for artificial intelligence (AI) data center cooling systems, the company said Thursday. The plant will be established in Windsor, Virginia, and is scheduled to begin production in the first half of 2027. It will have 32,000 square meters of floor space on a 170,000-square-meter site and manufacture air-cooled chillers primarily for AI data centers. LG Electronics will also add air-cooled chiller production lines and upgrade equipment at its factories in Pyeongtaek, Gyeonggi Province, and Changwon, South Gyeongsang Province, by the end of this year. A single-conveyor system spanning all manufacturing stages will improve productivity and enable multiple lines to operate simultaneously. North America hosts more than half of the world's AI data centers. According to market tracker Omdia, global data center power requirements are forecast to rise from 226 gigawatts this year to 420 gigawatts in 2030, with 60 percent concentrated in North A

YONGIN, Gyeonggi Province — Korea’s ambitious plan to expand domestic semiconductor production capacity and strengthen its position in the global chip supply chain will take another step forward this month, as construction is set to begin on the Yongin Semiconductor Cluster National Industrial Complex in Gyeonggi Province this month. The initiative, however, is not free from possible delays, including compensation for residents and businesses already at the site and pressure to meet fast-track construction deadlines ordered by President Lee Jae Myung, who is determined to capitalize on soaring artificial intelligence (AI)-driven memory demand before it cools. Two semiconductor clusters are currently planned in Yongin’s Cheoin District. One is the Yongin Semiconductor Cluster General Industrial Complex, where SK hynix is already building its memory chip fabs, and the other is the Yongin System Semiconductor Cluster National Industrial Complex, which is set to break ground this month and will house Samsung Electronics’ foundry and memory fabs. The Korea Land & Housing Corp. (LH),

A consortium led by Korean plant builder Doosan Enerbility has secured an 840 billion-won ($618 million) deal to build a gas-fired power plant in Vietnam by 2030, the company said Thursday. The consortium, formed by Doosan Enerbility and Vietnam's energy service company PetroVietnam Technical Service Corp. (PTSC), will build the O Mon 3 gas-fired combined-cycle power plant for PTSC's parent company, Petrovietnam (PVN), at a site about 180 kilometers southwest of Ho Chi Minh City, the company said in a press release. The latest engineering, procurement and construction (EPC) contract comes after Doosan Enerbility won a 900 billion-won deal in June last year, in a consortium with a local company, to build another gas-fired combined-cycle power plant at the same site for PVN by 2028. "We will focus on winning further deals from PVN, as the Vietnamese company plans to build gas-fired power plants in the central and northern parts of the country, in addition to the O Mon 3 and 4 projects," a company representative said. Doosan Enerbility has secured five gas-fired power plant deals, including

Renault Korea Motors, the Korean unit of France's Renault S.A., said Thursday its sales fell 24.7 percent in September from a year earlier amid weak demand at home. The automaker sold 6,556 vehicles last month, down from 8,710 units a year earlier, the company said in a release. Domestic sales dropped 45.2 percent on-year to 2,289 units last month, while exports backtracked 5.8 percent to 4,267 units.

LEGO Group has unveiled its first Dragon Ball set, created with the participation of a Korean designer at the Danish toymaker. The 1,764-piece LEGO Icons Dragon Ball Shenron & Goku set, developed in partnership with Japanese animation studio Toei Animation, will go on sale Nov. 4, the company said. Icons is LEGO's product line aimed at adult builders. Dragon Ball, created by the late Japanese manga artist Akira Toriyama, follows a boy named Goku on adventures to collect seven magical orbs known as Dragon Balls. Gathering all seven summons Shenron, a dragon that grants a wish. First published in 1984, the manga was adapted into an anime series by Toei that drew a worldwide following. The set recreates the scene in which Shenron rises from the seven Dragon Balls, with a young Goku riding his magic cloud, the Flying Nimbus. Seven bricks at the base represent the Dragon Balls, and the Goku minifigure can be detached and repositioned. A display stand and a plaque bearing the Dragon Ball logo are included. Lee Jae-won, a Korean designer who works at LEGO's headquarters in Billund, Denmark, too

Hyundai Motor, Korea's biggest carmaker, said Thursday its sales fell 16 percent in September from a year earlier, as there were fewer working days due to the Chuseok holiday. Hyundai sold 307,998 vehicles last month, down from 366,731 units in 2025, the company said in a press release. Domestic sales plunged 25.7 percent to 49,022 units from 66,001 a year earlier, while overseas sales declined 13.9 percent to 258,976 units from 300,730. "Fewer working days due to Chuseok and delayed demand for new models affected the monthly numbers," the carmaker said. Hyundai plans to launch the all-new Tucson sport utility vehicle (SUV) in the domestic market as it expands its SUV lineup. From January to September, cumulative sales backtracked 7 percent to 2,886,763 vehicles from 3,105,346 a year earlier. Domestic sales dropped 16.3 percent to 448,181 units in the first nine months from 535,458 a year earlier, while overseas sales declined 5.1 percent to 2,438,582 units from 2,569,888.

Three consortia led by Korean tech companies will unveil their artificial intelligence (AI) services developed under a government-led project within this month to provide all citizens with access to AI, government and industry sources said Thursday. The three teams — led by SK Telecom, KT and Kakao, respectively — are set to launch a closed beta version of their AI services sometime in October, the sources added. The government's "AI for All" project unveiled in July came amid efforts to lower Korea's dependence on foreign AI models and boost the domestic AI sector. Developers are required to use domestic AI models for at least 50 percent of the offered AI services, with government funding and graphic processing unit (GPU) support. Developers have set a monthly active user target of 5 million for their envisioned services, with Kakao vowing to expand the figure to 10 million by 2027 and 30 million by 2030. Korea plans to inject an additional 250 billion won ($184.37 million), starting next year, to further advance the services, which include costs to secure some 2,000 GPUs. According

James Kim, chairman of the American Chamber of Commerce in Korea (AMCHAM), is welcoming U.S. President Donald Trump’s announcement on Korea’s $54 billion (73.3 trillion won) investment in the Alaska liquefied natural gas (LNG) project, describing it a sign of progress in bilateral economic ties, but called for the two governments to resolve key commercial and legal details. “I see a shared interest in expanding energy cooperation, even if the two governments are emphasizing different aspects of the project,” Kim said in an interview with The Korea Times on Thursday. “A project of this scale requires careful consideration of investment costs, energy prices, commercial viability and participation terms,” he said, adding that questions surrounding the timing and coordination of the announcement are matters for the two governments to address. The contrasting positions have drawn attention because Washington presented the $54 billion figure as a Korean investment commitment, while Seoul has yet to determine details on the scale, structure or timing of any investment. From a busine

Hayfin Capital Management opened a new office in Seoul, Thursday, expanding its presence in the Asia-Pacific region following Samsung Life's investment in the firm as a strategic minority shareholder. Located at Three IFC in Yeouido, in Seoul's financial district, the office will provide on-the-ground coverage for Hayfin's growing base of Korean institutional investors and partners. "The Seoul office's focus is on understanding the needs of Korean institutional investors, connecting them effectively with the global team and enhancing the overall quality of client service," said Choi Si-jin, head of Korea at Hayfin. Choi, newly appointed to lead the office, has nearly two decades of experience in investment and institutional capital formation. He previously served as head of private equity for Asia-Pacific at UBS Asset Management and held senior roles at Wilshire Associates in Hong Kong, Samsung Life and Samsung Asset Management. The office opening follows Hayfin's management buyout, which closed in February 2025. Samsung Life, Mubadala and AXA IM Prime participated in the transaction as

Samsung Electronics Executive Chairman Lee Jae-yong joined global business leaders at a London gala celebrating a Korean art exhibition on Wednesday (local time), bringing cultural outreach and semiconductor partnerships together at the British Museum in the United Kingdom. About 240 political, business and cultural figures attended the dinner. Britain's Princess Anne attended a reception beforehand to mark the exhibition's opening. The exhibition, “Korea: 2,000 Years of Creativity,” explores 2,000 years of Korean creativity through works from the late Samsung Chairman Lee Kun-hee's collection. It is the museum's first major Korean art exhibition since 1984, according to Samsung. Jointly organized by the British Museum, the National Museum of Korea and the National Museum of Modern and Contemporary Art, Korea, it follows exhibitions in Washington and Chicago. London is the third overseas stop. Guests included ASML CEO Christophe Fouquet, Merck CEO Kai Beckmann, ZEISS CEO Andreas Pecher and Imec CEO Patrick Vandenameele, whose organizations cooperate with Samsung on semiconductor tech

Samsung Bioepis and Teva Pharmaceutical Industries have entered into an agreement on commercializing the former’s up to six potential biosimilar candidates, including two confirmed investigational candidates, the companies said Thursday. According to Samsung Bioepis, the two sides have signed a global licensing, development and commercialization agreement for the potential candidates. Of them, two confirmed investigational biosimilar candidates are SB41, referencing AstraZeneca’s Fasenra, a treatment primarily used for severe eosinophilic asthma, and SB44, referencing Novartis’ Ilaris, which treats a range of inflammatory conditions including rare autoinflammatory diseases. Under the terms of the agreement, Samsung Bioepis will be responsible for the development, regulatory registration and manufacturing of the biosimilars, while Teva will be responsible for commercialization in global markets, including the U.S., Europe and Canada. The companies have agreed to an option for expanding the partnership to other territories. Samsung Bioepis said the agreement reinforces their existing