Naver has unveiled HyperClova X, a new generative artificial intelligence (AI) platform. Naver will build an AI ecosystem and establish a model for mutual growth with Korean startups through the AI platform.At the DAN23 Conference held at the Grand InterContinental Seoul Parnas on Aug. 24, Choi Soo-
Samsung Electronics is partnering with global luxury brand Thom Browne again to market a limited edition of its foldable phone, the Galaxy Z5, against Apple’s iPhone 15 series.According to industry sources on Aug. 24, Samsung Electronics will release Thom Brown editions of the Galaxy Z Fold5 and the
“Every Mercedes-Benz vehicle in the world has a piece of Korea in it,” said Ola Källenius, chairman of the Board of Management at Mercedes-Benz Group in an all-electric showcase meeting with local media at Shilla Hotel in Seoul on Aug. 24. “Korea is a very important market. I believe our cooperation
SK innovation announced on Aug. 24 that it has decided to increase the capital in BlueOval SK, a joint venture with Ford in the U.S.The capital increase amounts to 9.823 trillion won and will be used for facility funds for BlueOval SK in the U.S.SK innovation stated, “We have decided on the capital
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company has entered into a collaboration agreement with Vaxxas, an Australian biotechnology company developing a unique vaccine patch platform technology, to
SK hynix, focusing on High Bandwidth Memory (HBM) for AI applications, is internally sourcing “post-processing” (packaging) personnel to scale up production. This move aims to quickly grow the size of its post-processing team, which is crucial for determining HBM production capabilities, ensuring th
As the demand for Artificial Intelligence (AI) led to an increase in global semiconductor sales this quarter, Samsung Electronics maintained its top position in the DRAM market share. SK hynix pushed out U.S.-based Micron to reclaim its second-place ranking.According to market research firm TrendFor
In the second quarter of this year, Korea’s net external financial assets (external financial assets minus external financial liabilities), which reflects the country’s external solvency, declined amid rising stock markets at home and abroad.However, Korea’s ratio of short-term external debt to tota
LG Innotek will join hands with SK E&S to expedite the attainment of its RE100 goals. RE100 is a commitment to use electric power only from renewable energy such as wind and solar.On Aug. 23, LG Innotek announced that it has signed a direct power purchase agreement (PPA) with SK E&S.A direct PPA is
The U.S. government is considering extending the waiver on export controls for semiconductor manufacturing equipment applied to South Korean and Taiwanese companies, Japan’s Nikkei newspaper reported on Aug. 23. This waiver is set to expire in October.Quoting multiple industry insiders, Nikkei repor
Hanwha Ocean decided on a capital increase of approximately 2 trillion won during its board meeting on Aug. 23. Concurrently, the company also set forth a goal to achieve 30 trillion won in sales and 5 trillion won in operating profit by 2040.Out of the funds secured from this capital raise, about 9
Chey Jae-won, Vice Chairman of SK Group, met with Ola Källenius, CEO and Chairman of the Board of Mercedes-Benz Group, to explore potential business collaborations. The meeting, which took place at the SK building on Aug. 23, was announced by SK Group. The discussions centered on the expansion of co
A bad feeling is growing among makers of electric vehicles that previously enjoyed rapid sales growth in the global automobile market. This is because their sales growth is staying on the skids year on year in major markets such as Korea, China, and the United States.According to the Korea Automobil
Correction 8/23 4:09 p.m. KST: A previous version of this story incorrectly stated that the Federation of Korean Industries had changed its name to the "Korea Businesspeople Association." However, the organization has only changed its Korean-language name. Translating that name change into English m
Korea’s coffee imports have shrunken this year, according to the Korea Customs Service. The decline is attributed to a drought that impeded global coffee production.According to the Korea Customs Service’s trade statistics on Jan. 21, the volume of Korea’s coffee imports from January to July this ye
Following a ban on overseas transfers of rare earth permanent magnet manufacturing technology at the end of 2022, China has decided to control the export of gallium and germanium emerging as next-generation semiconductor materials, starting from August. The Russian-Ukrainian war, which has been goin
Domestic TV manufacturers such as Samsung Electronics and LG Electronics have been holding a dominant position in the global market but are now showing signs of unease. This is because Chinese companies like TCL and Hisense have been aggressively competing with lower-priced offerings, rapidly erodin
On Aug. 21, SK bioscience announced that it had signed a contract with Thailand’s state-run pharmaceutical company GPO to supply SkyCellflu, a cell-cultured influenza vaccine concentrate, valued at 679.9 billion won.Following the MOU with GPO last month for the establishment of local vaccine product
SK hynix has successfully developed the world’s first 5th generation High Bandwidth Memory (HBM), setting a new benchmark for high-performance DRAM.On Aug. 21, SK hynix announced, “We have successfully developed ultra-high-performance DRAM for Artificial Intelligence (AI), dubbed the 5th generation
Voices are being raised for a policy shift in the Korean government’s Renewable Electricity 100 (RE100) goal. They say that it is necessary for the Korean government to switch to Carbon Free 100% (CF100), which includes utilizing nuclear energy.According to data submitted to Rep. Han Moo-kyung of th