KSD channels $1.17 mil. funding this year into regional talent, startups in Busan

The Korea Times - Oct 23, 2026

The Korea Securities Depository (KSD) has directed funding toward social welfare and innovative businesses, contributing an average of around 1.78 billion won ($1.34 million) annually from 2023 to 2025 and 1.55 billion won for this year, the state-run agency said Friday. Headquartered in Busan, KSD focuses much of its social contribution work on developing local talent, helping young people become financially independent and strengthening the regional economy. Its programs range from scholarships and job training to funding for social enterprises, startups and small and midsize businesses. One such effort is the Open Campus, which introduces university students to KSD’s work and career opportunities in the securities industry. Participants learn about its core functions, including securities settlement, get information on recruitment and speak with current employees. Launched in 2019 with 35 students from five universities, it has grown to 60 students from 12 universities this year. Since 2025, the program has been part of a wider initiative to strengthen Busan’s financial-sector tal

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Merck opens new semiconductor materials facility in Korea

Oct 22, 2026

Merck opens new semiconductor materials facility in Korea

Merck opened a new production facility for key materials used in semiconductor deposition in Eumseong County, North Chungcheong Province, Thursday, underscoring its commitment to expanding its presence in Korea's chip industry and strengthening a local-for-local supply chain. According to the company, the new facility produces molybdenum precursor solutions used in semiconductor manufacturing. New Merck Electronics CEO Benjamin Hein, Head of Thin Films Business Bing Han and other company executives attended the opening ceremony, while North Chungcheong Province Gov. Shin Yong-han delivered a congratulatory video message. This marks Hein's first visit to Korea since his appointment as Merck's Electronics CEO in May. During a press conference a day before the opening ceremony, Hein said customers increasingly want integrated solutions backed by local support, requiring closer cooperation between Merck's materials business and its delivery systems and services business. "What customers expect is that you provide an integrated solution. They don't just want to buy the precursor. They don't

FTC to collect public opinion on draft guidelines against 'AI washing'

Oct 22, 2026

FTC to collect public opinion on draft guidelines against 'AI washing'

Korea's antitrust watchdog said Thursday it has begun collecting public opinion on draft guidelines against advertisements exaggerating products' use of artificial intelligence (AI) technologies, a practice known as "AI washing." The Fair Trade Commission (FTC) said it plans to gather opinions through Nov. 11 amid a growing number of products advertising AI features, with some allegedly providing misleading or deceptive information to consumers. "The term AI is used to describe products' advanced technology, accuracy and objectivity, leading consumers to perceive their performance and reliability as relatively superior or to be willing to pay extra," the FTC said. Amid the trend, the watchdog said consumers need to be aware of products advertised as having AI features even though they do not actually use such technologies. The guidelines cover four major categories of potential violations of the Act on Fair Labeling and Advertising and include a self-assessment checklist and frequently asked questions. The FTC cited examples including electric hot-water heating mats, cat litter boxes, pil

Court rules against Lone Star in $125.9 mil. tax case

Oct 22, 2026

Court rules against Lone Star in $125.9 mil. tax case

An appeals court on Thursday ruled against U.S. private equity firm Lone Star Funds in its suit against the Korean and Seoul city governments to return a combined 168.2 billion won ($125.9 million) in taxes. The Seoul High Court handed down the ruling against Lone Star after the Supreme Court returned the case to the appeals court for review in April last year. The Texas-based firm had earlier filed the suit against the state and the municipality, seeking the return of withheld taxes in connection with profits from its investments in Korea. Lone Star and affiliate firms purchased large shares of Korea Exchange Bank, Kukdong Engineering Construction and Starlease between 2002 and 2005, and made huge profits by selling some of the shares in 2007. They paid smaller taxes than local companies would have, citing the tax treaty that Korea has with Belgium where the company that made the investment was based. The National Tax Service (NTS) levied additional corporate taxes against Lone Star and its entities, offsetting them with withheld taxes. Lone Star then filed a suit seeking cancellation of

LG Electronics brings AI and robotics to world's largest tidal power plant

Oct 22, 2026

LG Electronics brings AI and robotics to world's largest tidal power plant

LG Electronics is taking its smart factory technology beyond manufacturing and into renewable energy, partnering with Korea Water Resources Corp. to develop artificial intelligence systems for one of the country’s largest power facilities. The companies signed a memorandum of understanding Thursday at Sihwa Lake Tidal Power Plant’s cultural center in Ansan, Gyeonggi Province, to explore AI-driven operations at the facility, which has the world’s largest installed capacity among tidal power plants. The partnership will combine K-water’s power plant operating experience and data with LG Electronics’ expertise in smart factories, digital twins, robotics and AI, the companies said. Under the agreement, they will examine a digital twin-based integrated operating system that creates a virtual model of the plant and incorporates real-time information from generating equipment and surveillance cameras. The system could help forecast electricity output, simulate operating scenarios and diagnose equipment conditions, enabling operators to identify problems and assess performance before m

Orion expands Custard cream cake production in Korea, Vietnam, India as global demand surges

Oct 22, 2026

Orion expands Custard cream cake production in Korea, Vietnam, India as global demand surges

Orion has expanded production lines for its flagship Custard cream cakes across Korea, Vietnam and India to keep pace with surging domestic and international demand, the company said Thursday. Launched in Korea in 2004, Orion Custard is a soft, individually wrapped sponge cake with a custard cream filling. It has become the company’s second-biggest global pie brand after its flagship Choco Pie. Global sales rose 14 percent last year to 154 billion won ($116 million). China, Vietnam and India accounted for 76 percent of that total, and sales kept growing at a double-digit pace through September this year. The company added a production line in Korea in September and recently began running new lines in Vietnam and India. The expansion lifts Custard’s global production capacity to as much as 300 billion won a year, roughly double last year’s sales. Orion’s global research center at its headquarters in Korea oversees product development for each market. In Vietnam, the company sells flavors including tiramisu, raspberry, egg lava, melon and a reduced-sugar version. There is also a fl

Young Poong loses shareholder derivative suit against Korea Zinc

Oct 22, 2026

Young Poong loses shareholder derivative suit against Korea Zinc

A court on Thursday ruled against Young Poong Corp. in a shareholder derivative lawsuit seeking 837 billion won ($631 million) in damages from Korea Zinc Co. Chairman Choi Yun-beom and other company directors. Young Poong — a major shareholder in Korea Zinc — had filed the suit in November 2024, claiming Korea Zinc's directors had inflicted losses of 837 billion won on the company by making a tender offer involving the purchase of its own shares at 890,000 won apiece, when the actual price was around 560,000 won. The Seoul Central District Court ruled, however, that Korea Zinc's directors could not be deemed to have violated their managerial duties, given the steps they took before making the purchase. It also ruled that the action did not violate the Commercial Act or the company's articles of incorporation.

Nvidia broadens ties with Korean component makers

Oct 22, 2026

Nvidia broadens ties with Korean component makers

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K-beauty firms to seek export deals at Cheongju expo

Oct 22, 2026

K-beauty firms to seek export deals at Cheongju expo

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Oct 22, 2026

Regulators weigh antitrust safeguards as Naver-Dunamu deal stalls

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Samsung SDI to sponsor Korea's International Chemistry Olympiad team

Oct 22, 2026

Samsung SDI to sponsor Korea's International Chemistry Olympiad team

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Samsung chairman visits UAE, encourages employees

Oct 22, 2026

Samsung chairman visits UAE, encourages employees

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Lotte World ramps up safety prep with hands-on fire, CPR drills

Oct 22, 2026

Lotte World ramps up safety prep with hands-on fire, CPR drills

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