Hyundai Motor Group to invest $15.5 bil. in India through 2032

The Korea Times - Oct 14, 2026

Hyundai Motor Group will invest $15.5 billion in India from 2026 through 2032 to expand production capacity, strengthen research and development and build a broader automotive industry ecosystem in one of its key growth markets. The group announced the seven-year investment plan following a meeting between Executive Chair Chung Euisun and Indian Prime Minister Narendra Modi in New Delhi on Tuesday (local time). The investment will cover manufacturing expansion, R&D infrastructure, local supplier development and emerging mobility businesses, with the aim of strengthening India's role as a major production and export base for the group. To coordinate the investment, Hyundai Motor Group plans to establish a dedicated entity in India. The entity will oversee investments in R&D, future technologies and the broader automotive ecosystem, while identifying local partners and supporting strategic cooperation with Indian suppliers. “India remains one of Hyundai Motor Group’s most important and strategic markets globally. The past 30 years have been defined by our commitment to India. This inve

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Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Oct 13, 2026

Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Samsung Electronics showcased next-generation memory and storage technologies at the 2026 OCP Global Summit in the United States on Monday (local time), highlighting its efforts to improve artificial intelligence (AI) infrastructure and expand cooperation with global technology companies. The Korean tech giant jointly demonstrated a memory expansion solution with AMD and displayed products related to AI chipmakers Groq and Nvidia at the event, where Samsung participated as a Diamond Sponsor. As AI models grow larger and AI agents handle increasingly complex tasks, demand is rising for memory capacity, faster data processing and more efficient storage. Samsung presented technologies designed to address these challenges across three areas: computing speed, memory expansion and data storage. A key highlight was the joint demonstration with AMD of a Compute Express Link (CXL)-based memory expansion solution. CXL allows processors and other computing components to share memory resources, helping AI systems access additional capacity without relying solely on memory installed directly in indi

Bond, CD issuance climbs 11.1% in Q3

Oct 13, 2026

Bond, CD issuance climbs 11.1% in Q3

Sales of bonds and certificates of deposits (CDs) in Korea rose more than 11 percent in the third quarter of this year from a year earlier, data showed Tuesday. The value of debt instruments issued during the third quarter came to 178.3 trillion won ($134 billion), up 11.1 percent from a year earlier, according to the data from the Korea Securities Depository. Bond sales jumped 13.8 percent on-year to 166.4 trillion won, while CD issuance sank 16.8 percent to 11.9 trillion won. Compared with a quarter ago, however, sales of bonds and CDs fell 1.9 percent. The Bank of Korea lifted its key rate to 3 percent over two straight meetings in July and August, marking the first back-to-back rate hikes since January 2023.

SK earthon begins oil production at offshore field in Vietnam

Oct 13, 2026

SK earthon begins oil production at offshore field in Vietnam

SK earthon, a Korean oil exploration and production (E&P) company, said Tuesday oil production has recently begun at an offshore field in Vietnam where it holds a stake. U.S.-based Murphy Oil Corp., the operator of Block 15-1/05, began production at the Lac Da Vang field in the Cuu Long Basin late last month, SK earthon said in a press release. SK earthon holds a 25 percent stake in the block, having invested in the project in 2007. Murphy Oil and Vietnam's state-run PetroVietnam Exploration Production Corp. (PVEP) hold 40 percent and 35 percent stakes, respectively. The block is estimated to contain total oil reserves of 60 million barrels, with production expected to reach up to 25,000 barrels per day when the project is fully developed, the company said. "We will continue to expand its oil exploration and development activities in Vietnam to secure a stable energy supply amid rising geopolitical tensions and supply chain disruptions," a company official said. SK earthon has been expanding its E&P operations in China and Southeast Asia to help improve the profitability of its parent com

LS Electric secures $138.7 mil. transformer deal in US

Oct 13, 2026

LS Electric secures $138.7 mil. transformer deal in US

LS Electric said Tuesday it has signed a 185.3 billion-won ($138.7 million) contract with global power solutions provider Bloom Energy to supply switchgear and distribution transformers. With the latest deal, the Korean electrical equipment maker's cumulative orders from Bloom Energy have exceeded $500 million since April last year. Under the contract, LS Electric will supply power equipment for a fuel cell-based on-site power generation project at a major U.S. technology company's data center in Pennsylvania. The Korean company plans to deliver 38-kilovolt (kV) high-voltage switchgear and distribution transformers between April and July 2027.

HD Hyundai, Siemens launch joint center for digital shipbuilding

Oct 13, 2026

HD Hyundai, Siemens launch joint center for digital shipbuilding

HD Hyundai and Siemens Digital Industries Software opened a joint center in Busan on Tuesday as part of their efforts to accelerate digital transformation in the shipbuilding industry. HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s shipbuilding intermediate holding company, held an opening ceremony for the Global Marine Center, attended by key officials from both companies, including CEO Kim Hyung-kwan and Siemens Digital Industries Software Chief Revenue Officer Robert Jones. The center will house about 50 professionals from both companies specializing in ship design, production, artificial intelligence (AI) platforms and product lifecycle management. It will serve as a key hub for combining HD Hyundai’s shipbuilding expertise with Siemens’ digital engineering technology. The two companies signed an agreement in July to work together on establishing a next-generation marine platform, a project that aims to connect all aspects of shipbuilding, from design, production and supply chain management to quality control and maintenance with AI and digital technology. The cente

Seoul AI startup secures prized gateway to US market via New York program

Oct 13, 2026

Seoul AI startup secures prized gateway to US market via New York program

A Seoul-based AI startup has joined a prestigious New York City commercialization program, opening a rare doorway to test its products with American companies and court global investors. NextPayments was the only Korean company among 14 startups selected for NYC AI Nexus, a program organized by the New York City Economic Development Corp., from more than 200 applicants worldwide, the Seoul Metropolitan Government said Tuesday. Beginning in November, NextPayments plans to conduct pilot projects with local companies, focusing on retail and food service, to test its technology and assess demand in the U.S. market. The company develops AI platforms that integrate data from offline businesses, including orders, payments, products, staffing, logistics and customer behavior, into a unified system. Through the yearlong program, selected startups receive local office space, strategic advice, introductions to potential business partners, help with proof-of-concept projects, expert consultations and assistance in attracting investment. The New York City Economic Development Corp. plans to select as

KAMCO broadens cooperation with Asian markets on bad loan management

Oct 13, 2026

KAMCO broadens cooperation with Asian markets on bad loan management

The Korea Asset Management Corporation (KAMCO) is expanding its cooperation with Asian financial authorities, drawing on nearly three decades of experience managing nonperforming loans (NPL) to help countries strengthen their financial systems, the state-run agency said Monday. Vietnam offers a clear example of that approach. In April, KAMCO signed a consulting agreement worth around $400,000 with the Asian Development Bank to help establish a legal framework for asset-backed securities (ABS) in the country. Over the next 25 months, the agency is set to assess Vietnam’s financial and legal environment, recommend regulatory improvements and help develop guidelines for issuing ABS. The project will also include training programs to strengthen local expertise. KAMCO is working to improve the infrastructure for actual transactions as well. In a consortium with Shinhan DS, it is undertaking a 2.5 billion won ($1.86 million) project to upgrade the Vietnam Asset Management Company’s online platform for NPL trading. The agency is also extending its work beyond individual markets through a br

Jinju to host international entrepreneurship forum Oct. 18-20

Oct 13, 2026

Jinju to host international entrepreneurship forum Oct. 18-20

Jinju, South Gyeongsang Province, will host the 2026 Jinju International Forum on Entrepreneurship from Oct. 18 to 20, bringing together United Nations officials, global business leaders and scholars to discuss entrepreneurship amid geopolitical tensions, supply chain disruptions and intensifying artificial intelligence (AI) competition. The Jinju K-Entrepreneurship Foundation said Tuesday that the forum will explore how businesses, governments and local communities can turn these challenges into opportunities for innovation and shared prosperity. Under the theme “An Era of Global Uncertainty and Digital Transformation: What Is the Role of Entrepreneurship?” the three-day forum will examine how entrepreneurship can foster innovation and shared prosperity. A key session will bring together former U.N. Economic and Social Council presidents Nestor Osorio and Martin Sajdik, former Argentine ambassador to the U.N. Martin Moritan and U.N. Assistant Secretary-General for Economic Development Navid Hanif. They will discuss opportunities and inequalities arising from AI, the sustainable deve

Shinhan becomes 1st Korean financial group to establish holding company in Indonesia

Oct 13, 2026

Shinhan becomes 1st Korean financial group to establish holding company in Indonesia

Shinhan Financial Group has officially launched Shinhan Financial Group Indonesia, becoming the first Korean financial group to establish a local financial holding company in the Southeast Asian country, the company said Tuesday. The launch ceremony was held in Jakarta on Monday, attended by Shinhan Financial Group Chairman Jin Ok-dong and local financial authorities. The new structure places Shinhan Indonesia Bank at the center of the group's Indonesian operations, with the bank taking on the additional role of a holding company overseeing its local card and securities businesses. The restructuring follows the Indonesian government's announcement requiring financial groups to establish holding companies in December 2024. Shinhan began reorganizing its local governance structure in response to the requirement and received approval from Indonesian financial authorities in September 2025. The transition was completed on Sept. 16 following the transfer of stakes in the group's local affiliates, according to the company. Under the new structure, Shinhan Indonesia Bank acquired additional stak

Shinhan Financial acquires Lotte Insurance for $518 mil.

Oct 13, 2026

Shinhan Financial acquires Lotte Insurance for $518 mil.

Shinhan Financial Group Inc., a major banking group, has decided to take over a midsize non-life insurer for 693 billion won ($518 million) to diversify its business portfolio, industry sources said Tuesday. Shinhan Financial's board of directors approved the acquisition of a 77.04 percent stake in Lotte Insurance, from private equity firm JKL Partners, and then the banking group plans to buy the remaining 22.96 percent depending on regulatory approval.

Lexus Korea unveils 1st all-electric ES sedan

Oct 13, 2026

Lexus Korea unveils 1st all-electric ES sedan

Lexus Korea has launched its first all-electric ES sedan, expanding the luxury carmaker’s electrification strategy beyond its established hybrid lineup, as it moves to strengthen its position in the increasingly competitive electric vehicle (EV) market, the company said Tuesday. The eighth-generation All-New ES lineup comprises the ES 350e and ES 500e EVs alongside the ES 350h hybrid, offering customers a choice between fully electric and hybrid powertrains. The launch carries strategic significance for Lexus, which has built its reputation in Korea largely on hybrid vehicles. While the Japanese luxury brand is well established in the premium hybrid sedan segment, it has been a latecomer to the all-electric market. “EVs are not a sudden move for Lexus Korea,” Lexus Korea CEO Manabu Konoyama told reporters during a media event. “Rather, they represent the next step, built on the experience and expertise we have accumulated through our hybrid vehicles.” The ES 350e, the entry-level electric model, starts at 71.6 million won ($53,500) and offers a driving range of 478 kilometers on

CXMT's new DRAM tech to test Korean memory makers' dominance

Oct 13, 2026

CXMT's new DRAM tech to test Korean memory makers' dominance

Concerns are growing that the technological gap between China's CXMT and Korean memory makers Samsung Electronics and SK hynix in DRAM technology has already narrowed, after the Chinese company unveiled plans to launch server memory product by the end of this year featuring a next-generation memory cell architecture that remains only on the technology road maps of the two Korean chipmakers. According to South China Morning Post and other Chinese media outlets, CXMT President Cao Kanyu said the company plans to roll out a new server DDR5 based featuring the new architecture during an industrial event in Shanghai on Saturday. The new architecture uses a design called 4F square, which reduces the space occupied by each memory cell. F refers to the minimum line width that a given DRAM manufacturing process can draw. In current processes such as 1a, 1b and 1c, F is just over 10 nanometers. 4F square means each cell occupies an area equivalent to four times F squared. The current industry standard is 6F square, meaning the new technology could theoretically reduce the area occupied by each me

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