KT, Jasmine team up for Thai AI language model

KT Corp. said Sunday it is teaming up with Thailand’s telecom giant Jasmine Group to co-develop an artificial intelligence language model specialized in Thai and to launch related services together in Southeast Asia. Following the signing of a memorandum of understanding in September last year, top executives, including KT CEO Kim Young-shub and Jasmine Group Chairman Pete Bodharamik, gathered in Seoul on Thursday to discuss more details of the partnership. Under the extensive partnership,

Oct. 22, 2023

Over 40% of manufacturers say they need more foreign workers

More than 4 in 10 manufacturing business owners here say they will need more foreign workers next year, but cited language barriers and a difficult hiring process as key concerns, a survey found Sunday. The survey was conducted by the Korea Enterprise Federation, one of the major business lobbies here, with a total of 615 small and medium-sized businesses with fewer than 300 employees, in August and September. Of the total, 36.9 percent responded in favor of expanding the E-9 visa quota -- curre

Oct. 22, 2023

Mercedes-Benz Korea ramps up efforts to nurture tech talent

Mercedes-Benz Korea has been investing heavily in training employees and young students as part of efforts to enhance customer service and technical expertise in the automotive maintenance field. Since 2007, the Korean unit of the German luxury carmaker has organized “Korea TechMasters,” a biennial technical skills competition, while also running separate automotive training programs including Ausbildung and Automotive Electric Traineeship. This year’s technical contest saw

Oct. 22, 2023

[Photo News] Staying hydrated

Dong-A Otsuka CEO Cho Ik-sung (right) and Korean Basketball League President Kim Hee-ok pose for a photo after signing a sponsorship deal at the KBL headquarters in Seoul, Thursday. The beverage maker agreed to supply professional basketball players with various drinks, including its flagship Pocari Sweat, together with iceboxes and towels, for the 2025-26 season. (Dong-A Otsuka)

Oct. 22, 2023

[Photo News] Hana hall of fame

Hana Financial Group Chairman Ham Young-joo (third from right), Vice Chairman Lee Eun-hyung (third from left), and other company officials unveil the Hall of Fame for top employees at Hana Global Campus in Cheongra, Incheon, Saturday. A total of 186 employees have been selected to honor their performance across sales, marketing and consumer satisfaction. The financial giant said the new launch aims to create a customer-first corporate culture. (Hana Financial Group)

Oct. 22, 2023

Kakao risks losing management control of Kakao Bank

Korean tech conglomerate Kakao could lose its controlling shareholder position in its internet-only bank affiliate, as its top leaders have become embroiled in stock manipulation allegations stemming from the acquisition of K-pop agency SM Entertainment. On Friday, the country’s financial watchdog Financial Supervisory Service summoned Kakao founder Kim Beom-soo to appear for questioning on Monday for an investigation into the mobile platform service provider’s possible violation of

Oct. 20, 2023

Asiana to hold board meeting to discuss sale of cargo unit

South Korean air carrier Asiana Airlines will reportedly convene a meeting of its board of directors on Oct. 30 to decide whether or not to sell its cargo business, as a part of its efforts to accelerate its merger with its bigger rival Korean Air, industry sources said Friday. In order for the sale of the company’s cargo unit to be approved, four out of six of Asiana’s directors must agree. "Nothing has been concretely confirmed in regards to the board of directors' meetin

Oct. 20, 2023

Samyang to release tom yum flavor Buldak in US

South Korean food manufacturer Samyang Foods said Friday it would launch a new tom yum flavor of its bestseller Buldak Spicy Chicken Ramen series in the US market later this year. Featuring the traditional Thai hot and sour soup, tom yum, the new export-version of Buldak targeted Asians as well as big fans of Asian food in the United States. It blended the tangy, sweet and sour flavor of Thai soup with spicy chicken noodles and also added lemongrass and cilantro to complete the iconic tom yum ta

Oct. 20, 2023

Geopolitical risks hold back South Korea's credit rating upgrade:Fitch

Fitch said that South Korea's "AA-" sovereign rating, which has remained steadfast over 10 years, could be adjusted upward if geopolitical issues such as inter-Korean relations and US-China conflicts are improved, during the 2023 Fitch on Korea seminar held in Seoul on Friday. While improved relations with North Korea are necessary for a positive rating adjustment, Fitch does not see that improvement as promising in the near term, said Jeremy Zook, Fitch's director of Asia-Pa

Oct. 20, 2023

STX issues new shares worth W80b to expand global business

South Korean trading company STX said Friday it had decided to initiate a paid-in capital increase of 80 billion won ($58 million), in a bid to finance funds for expanding its global secondary battery businesses and Trollygo, the company's new business-to-business trading platform to be launched next month. According to STX, the firm held a board of directors meeting at the STX headquarters in Jung-gu, central Seoul, to decide new issuance of a total of 7.36 million common shares. The price

Oct. 20, 2023

[Photo News] Nintendo pop-up in Seoul

Visitors browse a preview of the Nintendo pop-up store in Seoul at HDC IPark Mall in Yongsan, central Seoul, Thursday, a day before its official opening. The pop-up, operating from Oct. 20 to 26, is the first official Nintendo goods store opened in South Korea. Video game enthusiasts will have the opportunity to purchase unique and limited-edition merchandise previously available only at stores in Japan, as well as experience the latest game, Super Mario Bros. Wonder, which released Friday. (Y

Oct. 20, 2023

Samsung unveils foundry road map to lead automotive chip sector

Samsung Electronics, the world’s largest memory chipmaker, unveiled on Thursday its new global foundry business road map, with a particular focus on automotive chips. The plans were announced at Samsung Foundry Forum 2023, hosted by the tech giant in Munich, Germany. “We seek to take the lead in the field of autonomous driving and electric vehicles through technological innovations that meet global customer demands in a timely manner,” said Choi Si-young, president and head o

Oct. 19, 2023

S-Oil to drive net-zero emissions with Shinhan Bank

South Korean oil refiner S-Oil announced Thursday that it has joined forces with Shinhan Bank to bolster its transition to achieving net-zero carbon dioxide emissions. Under a memorandum of understanding signed by the two on Wednesday, the Korean lender will support S-Oil in reducing its carbon footprint in the refining industry, one of the key contributors in global greenhouse gas emissions. As the industry is calling for prompt action to tackle carbon emissions, the agreement will be an opport

Oct. 19, 2023

Samsung Bioepis launches Soliris biosimilar in Europe

Samsung Bioepis, a biosimilar developer under Samsung Group, said Thursday that the company has completed the launches of its hematology biosimilar Epysqli, a biosimilar close to Soliris, in three European countries, hoping to gain ground in the rare blood disease biosimilar market. According to Samsung Bioepis, the company introduced Epysqli in Germany in July, and the biosimilar made its debut in Italy and Spain last month. Samsung Bioepis is also preparing for Epysqli’s launch in France

Oct. 19, 2023

[KH Explains] Why Starbucks' new coupon policy is a big deal in Korea

Starbucks’ recent decision to allow customers to purchase items cheaper than the value of their coupons and get a refund on the price difference is being greeted with enthusiasm by Korean consumers. The new coupon system, which is expected to take effect starting as early as December, has been a longstanding wish among consumers here -- until now, they were often required to spend extra money if they wanted to use mobile gift certificates and coupons at the nation's most popular coffe

Oct. 19, 2023

Kakao faces multiple whammy as CIO arrested

A Seoul court issued an arrest warrant for Kakao Chief Investment Officer Bae Jae-hyun on Thursday on charges of market manipulation related to SM Entertainment's stock price. The development has raised uncertainty about joint projects initiated by Kakao and SM Entertainment. "The arrest warrant was issued due to concerns about Bae destroying evidence or fleeing," the court said. The court dismissed arrest warrants for Kakao's head of investment strategy, surnamed Kang, and

Oct. 19, 2023

SK chairman says agile responses needed in times of geopolitical strife

SK Group Chairman Chey Tae-won urged top executives of the group's affiliates to respond with agility to survive in a fast-changing market environment and deepening geopolitical crisis, according to the group on Thursday. In the closing ceremony of the group's annual CEO seminar held in Paris on Wednesday (local time), Chey spoke about his awareness to executives of the group’s key affiliates and announced he would start implementing measures to counter risk factors in the macro

Oct. 19, 2023

Hanmi Global to host forum on data center construction

South Korean construction management firm Hanmi Global said Thursday the company will hold the 2023 Datacenter Innovation Forum at Coex, southern Seoul, on Nov. 6. Via presentations from global companies such as program management service provider Turner & Townsend, British design engineering company Bryden Wood and architectural design company Arup, the forum will review the latest global trends in the efficient construction of data centers. "Following the emergence of digitalization a

Oct. 19, 2023

LG Energy Solution's new residential ESS to hit US market

LG Energy Solution said Thursday it is set to launch a new residential energy storage system device lineup called LG enblock S in the United States next month. Installed with nickel, manganese and cobalt batteries, the LG enblock S is a device with high energy density that can provide a wide range of power sources for households. “With LG enblock S products, households can save energy and lower electric bills. They can also be used as a backup power source when the electricity is shut do

Oct. 19, 2023

Cha Medical to hold global forum on next-generation medicines

Cha Medical and Bio Group said Wednesday that the group will hold the Global Forum on Future Medicine 2023 at Cha Bio Complex in Seongnam, Gyeonggi Province, on Oct. 27. The forum will invite experts in stem cell research, regenerative medicine and cell and gene therapies, as well as officials from the government's regulatory agency. “The forum will provide opportunities for us to share the latest trends and new findings in the stem cell and GCT research areas,” said Yoon Ho-sup

Oct. 19, 2023