CXMT forecasts up to US$19.8 billion in 3 quarters’ net income; pledges share buy-back

South China Morning Post - Oct 18, 2026

Chinese memory chip giant ChangXin Memory Technologies (CXMT) forecast a net income of up to US$19.8 billion for the first nine months of 2026, marking a dramatic swing from a loss a year ago, as the domestic champion cashed in on artificial intelligence-driven demand while aggressively challenging global rivals including Samsung Electronics and SK Hynix. Meanwhile, Zhu Yiming, chairman of the Hefei-based memory giant, proposed to buy back 1 billion (US$149.56 million) to 2 billion yuan of...

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Casetify gives Hello Kitty a very Y2K makeover with its latest collection

Oct 17, 2026

Casetify gives Hello Kitty a very Y2K makeover with its latest collection

Leopard prints, hot pink and sticker-covered cases bring early-2000s visuals to iPhones and other accessories.

Securing equipment emerges as new variable for Korea's chip expansion plans

Oct 17, 2026

Securing equipment emerges as new variable for Korea's chip expansion plans

Securing equipment for manufacturing advanced memory chips is emerging as a new variable in Korea's plans to expand semiconductor production capacity through large-scale industrial clusters, after ASML, the dominant supplier of advanced chipmaking equipment, warned that its current production plans may not be sufficient to meet demand in 2027 and 2028. During its earnings call Wednesday, ASML CEO Christophe Fouquet said the company's plans to increase its production capacity for advanced chipmaking equipment by 30 percent in 2027 and another 30 percent in 2028 would likely not be enough to meet customer demand. “Last quarter, we talked about 30 percent more capacity next year, and also the aspiration to have another 30 percent increase in 2028,” Fouquet said. “But to be honest, it's becoming very clear that 30 percent in 2027, 30 percent in 2028 will not allow us to meet our customer demand.” According to the company, the planned capacity increases cover both low-numerical-aperture extreme ultraviolet (low-NA EUV) lithography equipment and deep ultraviolet (DUV) immersion system

Musinsa teams up with Japan's ZOZOTOWN for 1st Korean pop-up

Oct 17, 2026

Musinsa teams up with Japan's ZOZOTOWN for 1st Korean pop-up

Fashion platform Musinsa has teamed up with ZOZOTOWN, one of Japan's leading online fashion retailers, to open a pop-up store in Seongsu-dong, Seoul, a popular destination for young consumers. Musinsa opened the doors to ZOZOTOWN in Musinsa, the Japanese platform’s first official pop-up store in Korea, to the media on Friday. The pop-up will run through Oct. 31, while an accompanying online promotion will continue until Nov. 16. Launched in 2004, ZOZOTOWN features more than 11,000 brands and serving over 13 million customers annually. Fifteen Japanese fashion brands available on the platform, including Snidel and Grancy, are participating in the event. The pop-up’s concept, ZOZO is Coming to Town, draws inspiration from Korean streets. Crosswalks, road markings and oversized three-dimensional typography have been incorporated into the space to create the impression of an intersection where Korean and Japanese fashion meet. The pop-up follows the signing of a memorandum of understanding between the two platforms in December 2024 to establish a strategic partnership. In November last y

China’s proposed AI tech export bans may create short-term costs, long-term gains: analysts

Oct 17, 2026

China’s proposed AI tech export bans may create short-term costs, long-term gains: analysts

China’s proposed export bans and controls of artificial intelligence technologies aim to tighten Beijing’s grip in the strategically vital sector, casting a cloud over the commercial prospects of domestic model developers in the global AI race, analysts say. The new measures come as concerns mount globally over the risks of advanced AI systems, following a string of recent cyberattacks, while also underscoring AI’s growing national security importance for both Beijing and Washington. Zhang Yi,...

Apple says iPhone Duo demand is “extraordinary” as shipping dates slip to late January 2027

Oct 17, 2026

Apple says iPhone Duo demand is “extraordinary” as shipping dates slip to late January 2027

Pre-orders for Apple’s first foldable iPhone have pushed estimated delivery dates into late January 2027, but it’s unclear whether this reflects strong demand or limited launch inventory.

'AI artists' perform improvised music at Jarasum Jazz Festival

Oct 16, 2026

'AI artists' perform improvised music at Jarasum Jazz Festival

Artificial intelligence (AI) models developed by a research team led by Korea Advanced Institute of Science and Technology (KAIST) professor Nam Ju-han made their debut at one of Korea’s leading jazz festivals, performing improvised jazz alongside human artists. According to the university Friday, the team showcased human-AI music collaboration technology that analyzes the flow of human performances in real time, allowing AI to take over performances or generate improvised accompaniment during the 23rd Jarasum Jazz Festival, held in Gapyeong County, Gyeonggi Province, from Oct. 9 to 11. A total of 12 human jazz artists participated in the event, collaborating with AI in 26 pieces across 12 performances. The technology is different from existing music AI services as it enables collaboration with human musicians in jazz, a genre characterized by improvisation. Jazz musicians often change the tempo or create new melodies based on how they feel in the moment. Because the same piece can be performed differently each time, musicians must listen to one another and adjust their playing accordi

Why do some Samsung employees cheer company's stock plunge?

Oct 16, 2026

Why do some Samsung employees cheer company's stock plunge?

Some Samsung Electronics employees have drawn criticism from online users after appearing to welcome a nearly 9 percent plunge in their company's share price on an anonymous workplace community. Posts written by Samsung Electronics employees on the company's board on Blind, an anonymous community for office workers, spread across online communities and social media Thursday. Blind requires users to verify their employment through their company email addresses, and displays the name of their employer alongside their usernames. According to the Korea Exchange, Samsung Electronics closed Thursday's regular trading at 210,000 won ($147), down 9.48 percent, or 22,000 won, from the previous session. One person believed to be a Samsung Electronics employee posted on Blind under the title, "Please let the stock plunge to 100,000 won." Another employee wrote a post titled, "Isn't a falling stock price actually better for Samsung Electronics employees?" The employee said, "From the Device Solutions (DS) division's perspective, a higher stock price only increases the risk associated with OPI2," ref

Michael Jordan's Steak House named Korea's best hotel restaurant

Oct 16, 2026

Michael Jordan's Steak House named Korea's best hotel restaurant

Michael Jordan’s Steak House, the only location of the U.S. restaurant brand outside the United States, has been named “Korea’s Best Hotel Restaurant 2026” at the World Culinary Awards. INSPIRE Entertainment Resort in Incheon, which houses the restaurant, said Friday that the steakhouse received the award at a ceremony held Wednesday in Jamaica. The awards recognize outstanding restaurants and culinary destinations through votes cast by industry professionals, experts and consumers. The event is a sister event of the World Travel Awards, described as the “Oscars of the travel industry.” The restaurant opened in Incheon in 2023 as the brand’s first and only location outside the U.S., bringing a selection of steaks that had proved popular in its home market. Cornerstone Restaurant Group oversees the brand in partnership with basketball legend Michael Jordan, with two U.S. locations in Chicago and Connecticut. The Incheon restaurant also received a Best of Award of Excellence in June from Wine Spectator, a U.S. wine publication, as part of its annual Restaurant Awards. “This

Chaevi wins all 4 government EV charging subsidy categories

Oct 16, 2026

Chaevi wins all 4 government EV charging subsidy categories

Electric vehicle (EV) charging operator Chaevi has achieved a rare clean sweep in this year's government EV charging facility subsidy program, securing qualifications across all four categories in both network operation and hardware manufacturing. The company was selected as an operator and manufacturer of fast, medium-speed and slow charging facilities under a program overseen by the Ministry of Climate, Energy and Environment. The selection marks Chaevi’s ninth consecutive year as a designated charging facility operator and its first selection in newly introduced manufacturer categories, according to the company. The four categories cover operators of fast and medium-speed chargers, operators of slow chargers, manufacturers of fast and medium-speed chargers, and manufacturers of slow chargers, allowing Chaevi to participate in the government’s subsidy program through 2027. The government revised its evaluation system this year to assess operators and manufacturers separately, with manufacturers facing additional scrutiny of technological development, product quality and charging pe

Hyosung Heavy Industries doubles export capacity with Changwon factory

Oct 16, 2026

Hyosung Heavy Industries doubles export capacity with Changwon factory

Power transmission equipment manufacturer Hyosung Heavy Industries opened a new factory in Changwon, South Gyeongsang Province, Friday, doubling its production capacity for extra-high-voltage circuit breakers rated at 420 kilovolts (kV) and above as it prepares for surging global demand for power infrastructure. The facility, covering about 18,996 square meters, will exclusively manufacture circuit breakers rated at 420 kV, 550 kV and 800 kV for export markets, strengthening the company's ability to fulfill large overseas orders. Hyosung Heavy Industries reorganized its existing circuit breaker operations to focus primarily on domestic models, while the new facility handles export products rated at 420 kV and above. The factory integrates component manufacturing, assembly, testing and shipping under one roof, creating a streamlined production system designed to improve efficiency and delivery times. Production capacity for insulation components, which are critical to circuit breaker performance, has also doubled, according to the company, which said it is the only domestic power equipmen

Samsung's Galaxy S26 Ultra, 2 other products named to TIME's Best Inventions of 2026

Oct 16, 2026

Samsung's Galaxy S26 Ultra, 2 other products named to TIME's Best Inventions of 2026

Samsung Electronics said Friday that three of its products have been named to TIME magazine’s list of The Best Inventions of 2026. The U.S. weekly news magazine announced the list Thursday (local time). It picked the Galaxy S26 Ultra smartphone in the Consumer Electronics category, the Bespoke AI Family Hub refrigerator in Household and the Odyssey G8 gaming monitor in Entertainment & Gaming. TIME compiles the list each year from nominations by its editors and correspondents around the world. It rates new products and ideas on originality, efficacy, ambition and impact. The magazine called the Galaxy S26 Ultra “a privacy-focused smartphone,” citing its Privacy Display. The feature effectively blocks people from viewing the screen from the side. Users can choose when it turns on or apply it only to certain content, such as pop-up notifications. TIME said this makes it more flexible than conventional privacy screen protectors. The phone is the top model in the Galaxy S26 series, which was released in March. It has a 200-megapixel wide-angle camera and artificial intelligence (AI) fea

AMCHAM chief receives honorary doctorate from Korea Aerospace University

Oct 16, 2026

AMCHAM chief receives honorary doctorate from Korea Aerospace University

American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim received an honorary doctorate in business administration from Korea Aerospace University (KAU) on Thursday in recognition of his contributions to Korea-U.S. economic cooperation. The university recognized Kim for bringing businesses and policymakers from the two countries together to promote trade, investment and cooperation in advanced industries. It also cited his efforts to attract foreign investment to Korea and improve the business environment in the country, drawing on his experience leading global companies. A degree ceremony was held at Vision Hall in the university’s Aerospace Center following a commemorative tree-planting event. KAU President Hurr Hee-young delivered welcoming remarks, while Korean Air Executive Vice President Kenneth Chang offered congratulatory remarks. “It is a great honor to receive an honorary doctorate from a university that has been at the forefront of developing Korea’s aerospace and defense talent,” Kim said. Kim also praised KAU’s efforts to develop talent and strengthen ties

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