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Korea secures 260,000 Nvidia GPUs for AI push
GYEONGJU, North Gyeongsang Province — US chip giant Nvidia will supply 260,000 of its cutting-edge GPUs to the South Korea government and leading conglomerates — Samsung Electronics, SK Group, Hyundai Motor Group and Naver — in one of the largest AI infrastructure rollouts outside the US. The announcement came Friday during a meeting between President Lee Jae Myung and Nvidia CEO Jensen Huang on the sidelines of the APEC summit in Gyeongju, North Gyeongsang Province. Also present were Samsung El
Oct. 31, 2025 -
Samsung Electronics marks 56th year with AI push
Samsung Electronics on Friday marked its 56th founding anniversary with a subdued commemorative event held in Suwon, Gyeonggi Province, one day ahead of the official date. Chair Lee Jae-yong did not issue a separate message, maintaining the low-key tone seen in recent years. During the ceremony, Vice Chair and CEO Jun Young-hyun underscored the urgent need for the company to restore its fundamental competitiveness and lead the next wave of innovation in the artificial intelligence era. "Samsung
Oct. 31, 2025 -
Samsung Electronics vows to become 'AI-driven' firm during founding ceremony
Samsung Electronics Co. aims to bolster its competitiveness in the artificial intelligence sector amid growing external business uncertainties, its semiconductor chief said Friday. "The AI sector has already demolished boundaries among industries to make a new world," Vice Chairman Jun Young-hyun was quoted as saying by Samsung Electronics during an event marking the company's 56th anniversary. Jun said Samsung needs to become an "AI-driven company" as the company stands at a critical point in t
Oct. 31, 2025 -
Korea-US trade deal eases tensions, but oversight, chip questions remain
GYEONGJU, North Gyeongsang Province -- After months of deadlock, South Korea and the US reached an agreement on details of their trade deal on Wednesday, easing major uncertainties over automobile exports and the broader economy, though follow-up negotiations on the massive investment package still need to be ironed out, experts say. Meeting in Gyeongju, North Gyeongsang Province, on the sidelines of the Asia-Pacific Economic Cooperation summit, South Korean President Lee Jae Myung and US Presid
Oct. 30, 2025 -
SK reshuffles top brass to bolster governance, strategic agility
SK Group on Thursday unveiled a sweeping executive reshuffle as part of efforts to strengthen financial stability and accelerate its transition toward a portfolio driven by artificial intelligence and innovation. The changes, approved during a morning session of the SK Supex Council, the group’s top decision-making body, reflect a strategy to enhance execution at the affiliate level and prepare for future leadership. “This round of appointments is intended to address urgent challenges, reinforce
Oct. 30, 2025 -
Daewoong seeks approval for world’s first SGLT-2 diabetes drug for dogs
Daewoong Pharmaceutical said Thursday it has applied for approval from Korea’s Animal and Plant Quarantine Agency for EnvloPet, a pet diabetes drug adapted from its human treatment Envlo (Enavogliflozin). EnvloPet is the world’s first SGLT-2 inhibitor for dogs, designed to lower blood sugar by excreting glucose through urine. In clinical trials, 73.3 percent of treated dogs showed significant reductions in fructosamine levels — a key diabetes indicator — with most also able to reduce or stabiliz
Oct. 30, 2025 -
Samsung invests in US gene editing firm Arbor
Samsung Group said Thursday it will invest in Arbor Biotechnologies, a US-based gene editing company, through its Life Science Fund, established to foster new technologies and businesses in the life sciences sector. The fund, jointly created by Samsung C&T, Samsung BioLogics and Samsung Bioepis, is managed by Samsung Venture Investment. Through this investment, Samsung aims to explore high-growth business opportunities and research collaboration with Arbor in the field of gene editing technologi
Oct. 30, 2025 -
Invest Korea Summit draws record $1.21b as APEC boosts investor confidence
The Invest Korea Summit secured a record $1.21 billion in foreign investment this year, buoyed by the Asia-Pacific Economic Cooperation forum taking place alongside it, the Korea Trade-Investment Promotion Agency (Kotra) said Thursday. Hosted by the Ministry of Trade, Industry and Energy and organized by Kotra, the nation’s largest government-led investor relations event began its four-day run Wednesday in Seoul, drawing more than 2,000 global investors, business leaders and officials. A major b
Oct. 30, 2025 -
Korean beef makes debut in UAE, tapping halal demand
South Korea has officially begun exporting Korean beef to the United Arab Emirates, marking its entry into the Middle East’s halal market. According to the Ministry of Agriculture, Food and Rural Affairs on Thursday, the first shipment — 1.5 metric tons of refrigerated and frozen Korean beef — departed from Incheon Airport earlier in the day, bound for the UAE. The milestone shipment makes the UAE the fifth official importer of Korean beef, joining Hong Kong, Malaysia, Cambodia and Laos, as Kore
Oct. 30, 2025 -
Heads of Samsung, Hyundai to meet with Nvidia's Jensen Huang for 'chimaek’: report
Nvidia CEO Jensen Huang, one of the most influential figures in the global tech industry, is reportedly set for an informal get-together Thursday evening in Seoul with two of South Korea’s top business leaders — Samsung Electronics Chair Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun— over fried chicken and beer. The idea originated with Huang, who, the reports said citing unnamed industry sources, wanted to have an "open-minded conversation with the two, while experiencing Ko
Oct. 30, 2025 -
Hanwha, HavocAI team up on US autonomous maritime systems
Hanwha is ramping up its entry into the US market by partnering with HavocAI, a US-based company specializing in autonomous maritime systems. The two sides held a meeting to review their technological capabilities ahead of signing a strategic partnership on autonomous navigation and remote operation technologies for uncrewed maritime systems, Hanwha said Wednesday. HavocAI CEO Paul Lwin and his research team on Tuesday visited Hanwha Ocean’s shipyard in Geoje, South Gyeongsang Province, where th
Oct. 29, 2025 -
SK hynix posts record Q3 profit as AI memory demand surges
SK hynix reported record-breaking earnings for the third quarter on Wednesday, driven by booming demand for high-performance memory chips powering artificial intelligence servers and data centers. The strong results underscored the company’s growing dominance in the global semiconductor market as the AI race continues to accelerate. Consolidated operating profit soared 61.9 percent on-year to 11.38 trillion won ($7.94 billion), marking the first time in the company’s history that quarterly profi
Oct. 29, 2025 -
Hanwha Life outlines strategy for tech-driven, global expansion
Hanwha Life, one of South Korea’s major life insurers, is pursuing new growth opportunities through overseas expansion and digital transformation. While many Korean insurers have moved into Southeast Asia in recent years, Hanwha Life has drawn attention for the scope and pace of its initiatives, extending its business beyond the traditional insurance sector. In Indonesia, the company became the first Korean insurer to acquire a foreign bank by purchasing Nobu Bank earlier this year. Hanwha Life
Oct. 29, 2025 -
Mirae Asset hints at legal action against Brookfield in IFC Seoul dispute
South Korea’s Mirae Asset Global Investments announced Wednesday that it will pursue legal action against Brookfield Asset Management for failing to return a 200 billion won ($140 million) down payment for the sale of the International Finance Center Seoul. According to Mirae Asset, the Singapore International Arbitration Center ordered the Canadian asset manager to return the down payment and cover additional costs related to the failed acquisition of IFC Seoul by Tuesday. Brookfield, however,
Oct. 29, 2025 -
Nearly 30% of wage workers earn more than W4m a month
Nearly 30 percent of wage workers in South Korea earn more than 4 million won ($2,800) a month, while another 20 percent take home half of that, highlighting growing income polarization among employees, government data showed Wednesday. According to data released by the Ministry of Data and Statistics, 27.5 percent of wage earners took home at least 4 million won per month. Among them, 11.2 percent earned between 4 million and 5 million won, while 16.3 percent earned more than 5 million won, up
Oct. 29, 2025