SK Telecom, Krafton debut open-source AI models for math, code

SK Telecom, Korea's largest wireless carrier in terms of subscribers, and gaming giant Krafton have unveiled three open-source language models optimized for inference tasks such as mathematics and code generation, the companies said on Monday. The newly released models are lightweight language models tailored to problem-solving and programming tasks. Developed through collaboration, the models boasting 7 billion parameters incorporate a proprietary learning technique crafted by Krafton to improv

July 28, 2025

Blackstone bolsters Korea portfolio with 2 logistics centers near Seoul

Blackstone is deepening its presence in South Korea with the acquisition of two last-mile logistics centers in the greater Seoul area. The New York-based alternative investment firm said Monday that its real estate division acquired properties totaling 1.3 million square feet in Gimpo and Namyangju, two of the most competitive infill logistics markets in Gyeonggi Province. The firm said the properties are Grade A facilities — modern, high-quality logistics centers designed for efficient supply c

July 28, 2025

[Photo News] Ioniq 6 face-lift debuts with class-leading range

Hyundai Motor Company on Monday launched a face-lifted version of its flagship electric sedan, the Ioniq 6, in the Korean market — the first update since the model’s debut in 2022. The Korean automaker has enhanced battery capacity and aerodynamic design, achieving the longest driving range among electric models in Korea at up to 562 kilometers on a single charge. The price starts at 48.56 million won ($35,150). (Hyundai Motor Group)

July 28, 2025

Why some Koreans considered iPhone ‘half-baked’ until it could replace their wallet and record calls

For more than a decade, a certain group of South Korean iPhone users passed around the same dry joke online: features like Apple Pay, call recording and transit card support would "only come to iPhone after unification with North Korea." The comparison wasn’t literal. It was a way of saying these features felt so delayed that they belonged to the realm of the near impossible. But as of now, that punchline has expired. On July 22, Apple and T-money officially launched support for Korea’s nationwi

July 28, 2025

Seoul shares open flat amid US tariff caution

South Korean stocks opened nearly unchanged Monday, despite strong gains by tech giant Samsung Electronics, as investors await a potential deal in high-stakes tariff talks with the United States, with just days remaining before the negotiation deadline. The benchmark Korea Composite Stock Price Index rose 0.89 point, or 0.03 percent, to 3,196.94 in the first 15 minutes of trading. Last-minute negotiations are under way between Seoul and Washington to reach a deal on US President Donald Trump's a

July 28, 2025

SPC to end overtime night shifts after presidential rebuke

Korean food conglomerate SPC Group said it will eliminate overtime night shifts exceeding eight hours across its manufacturing lines starting in October, following the death of a factory worker in May. The group, which owns the well-known bakery chain Paris Baguette, said Sunday it will overhaul its production system and working arrangements by cutting overnight operations for all but essential items like fresh goods and gradually reducing daytime hours to prevent fatigue-related accidents. The

July 27, 2025

Hyundai Steel swings to profit in Q2, records W5.9tr sales

Hyundai Steel returned to profit in the second quarter of 2025, posting an operating income of 101.8 billion won ($73.6 million) and a net profit of 37.4 billion won. The company’s consolidated sales for the quarter reached 5.94 trillion won, a 6.9 percent increase from the previous quarter. The rebound was driven by higher product sales, falling raw material costs and improved performance from subsidiaries, according to its regulatory filing last week. Despite weak global steel demand in the fi

July 27, 2025

Final week of US-Korea trade talks sees shipbuilding as key

Seoul is racing to finalize a tariff deal with Washington before the Aug. 1 deadline, as Finance Minister Koo Yun-cheol prepares to meet US Treasury Secretary Scott Bessent on Thursday in a bid to avert a 25 percent tariff on Korean exports, including autos. According to the industry and government sources on Sunday, the meeting between Koo and Bessent has been rescheduled for Thursday, likely at the US Treasury Department. Their meeting was initially planned for Friday with Korea's Trade Minist

July 27, 2025

Kia sets new sales record in India for H1

Korea’s second-largest automaker Kia posted record sales in India during the first half of 2025, bolstered by the launch of its new Syros sport utility vehicle. According to data from the Society of Indian Automobile Manufacturers, Kia sold 142,139 units in India between January and June, surpassing its previous first-half sales record of 136,108 units — set in 2023 — by 4.4 percent. The performance marks a rebound from last year’s decline and puts the firm nearly halfway toward its full-year ta

July 27, 2025

KGC unveils ginseng for each stage of life at Singapore health forum

Korea Ginseng Corp., a leading manufacturer of ginseng products, showcased emerging Korean health trends and the scientific evidence for the effectiveness of its flagship brand JungKwanJang, at an Asia’s premier health food industry forum in Singapore. KGC presented its advanced R&D capabilities and a broad lineup tailored to different life stages — from Korean Red Ginseng Extract Everytime to products designed for teens, students, women and seniors. The Growth Asia Summit 2025 was held from Jul

July 27, 2025

[Photo News] Royal tour at Hankook Tire’s UK hub

Han Chang-yool (front right), managing director of Hankook Tyre UK, leads a tour for Princess Anne (front left), the Princess Royal, at Hankook House — the company’s new headquarters and logistics base in the UK — on July 17. Located in a key logistics hub connecting London, Cambridge and Oxford, the 33,200-square-meter facility features cutting-edge, eco-friendly infrastructure and will serve as Hankook’s base for UK expansion. (Hankook Tire & Technology) Princess Anne (right), the Princess Roy

July 27, 2025

Hana Financial steps up support for AI industry

Hana Financial Group, a major banking group in South Korea, signed a partnership deal with the Korea AI Software Industry Association to help accelerate the growth of local artificial intelligence companies. The agreement was formalized at a ceremony on Friday, attended by Hana Financial CEO Ham Young-joo and KOSA Chair Joh Joon-hee. KOSA is a government-certified non-profit organization that supports Korea’s AI and software sectors through industry collaboration, policy advocacy, talent develop

July 27, 2025

Major financial groups post record profits in H1 despite economic slowdown, rate cuts

Four major financial holding companies in South Korea posted record earnings in the first half of this year despite economic uncertainties and declining interest rates, data showed Sunday. The combined net profit of KB Financial, Shinhan Financial, Hana Financial and Woori Financial totaled 10.33 trillion won ($7.47 billion) during the first six months of 2025, marking a 10.5 percent increase from the same period a year earlier, according to their regulatory filings. KB, Shinhan and Hana each po

July 27, 2025

Industry minister ends 2-day tariff talks with Lutnick without results

South Korean Industry Minister Kim Jung-kwan has wrapped up his two-day tariff talks with US Commerce Secretary Howard Lutnick, without tangible results, sources said Saturday. Kim and Lutnick's second-day meeting, which took place at Lutnick's residence in New York, finished late Friday night (US time) without solid results, according to the sources familiar with the matter. The two had also met the previous day in Washington to discuss pending trade issues, including tariffs, non-tariff measur

July 26, 2025

LG Electronics to expand washer production in Mexico amid US tariff uncertainty

LG Electronics said Friday that it plans to expand its washing machine production to Mexico starting in September in response to ongoing uncertainty surrounding US tariff policies. During a conference call following its second-quarter earnings announcement, the company addressed its production optimization strategy in light of potential trade policy shifts. “If the mutual tariffs set to take effect on Aug. 1 are implemented, we will respond by expanding our production bases in both the US and Me

July 25, 2025