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SKT apologizes for hacking breach, offers free USIM replacements
SK Telecom Chief Executive Officer Ryu Young-sang apologized Friday for the recent hacking incident involving the partial leakage of customers' universal subscriber identity module information, pledging to reinforce security measures and replace all customers’ USIM cards. “We sincerely apologize to our valued customers and the public for the significant concern and inconvenience caused by this incident,” Ryu said in a press conference at the company’s headquarters in central Seoul. “As an additi
April 25, 2025 -
Seoul, Washington lay groundwork for tariff relief deal by July
South Korea and the US have agreed to work toward a “July Package," a comprehensive package deal aimed at eliminating US tariffs on Korean exports before July 8, when the 90-day grace period on US "reciprocal tariffs" expires, according to Korea’s top officials on Friday. The agreement came during a “2+2” trade meeting in Washington on Thursday, between South Korean Deputy Prime Minister and Finance Minister Choi Sang-mok, Industry Minister Ahn Duk-geun and their US counterparts, Treasury Secret
April 25, 2025 -
South Korea's nuclear power plant bid in Czech Republic clears hurdle as French appeals rejected
The Czech Republic's competition authority has rejected a French energy company's appeals against a South Korean bid to build two nuclear reactors in the Central European nation, a news report said Thursday. The Office for the Protection of Competition's decision to turn down the appeals by Electricite de France clears the way for the South Korean consortium, led by Korea Hydro & Nuclear Power to finalize the estimated 26.2 trillion-won (US$18.2 billion) project, Reuters reported. In July last y
April 24, 2025 -
From finance to defense: Thailand-Korea forum maps path for collaboration
Thailand’s Deputy Minister of Finance Julapun Amornvivat underscored his country's economic partnership with South Korea at the Ignite Thailand-Korea Business Forum in Seoul on Wednesday, highlighting efforts to leverage the countries’ complementary strengths in a new era of financial cooperation. Serving as a gathering place for exploring economic cooperation across a diverse range of sectors, the two-day event -- held Tuesday and Wednesday at Lotte Hotel Seoul -- was co-hosted by Herald Media
April 24, 2025 -
Lotte Biologics kicks off ADC service at Syracuse plant
Lotte Biologics announced on Thursday that it has signed a manufacturing deal with a biotech firm based in Asia to produce a clinical-stage antibody-drug conjugate candidate. The deal represents the first major milestone in launching full-scale operations at the company’s ADC manufacturing facility, located at the Syracuse Bio Campus in the US state of New York, an expansion project that began in 2023. Through the contract, Lotte Biologics is officially introducing its ADC contract development a
April 24, 2025 -
LG posts record Q1 sales backed by strong B2B performance
LG Electronics said Thursday it has recorded its highest-ever first-quarter sales, driven by growth in its business-to-business sector, including the vehicle components and heating, ventilation, and air conditioning businesses. The tech giant reported sales of 22.74 trillion won ($15.9 billion) and an operating profit of 1.26 trillion won. This marks the first time the company’s first-quarter sales have surpassed 22 trillion won, setting a new record. LG’s first-quarter performance barely met lo
April 24, 2025 -
SK hynix posts stellar Q1 earnings, fueled by AI growth
SK hynix posted its second-highest quarterly operating profit of 7.44 trillion won ($5.2 billion) for the January-March period this year, up 158 percent on-year. Achieving the record performance during the seasonal slowdown, the memory chip maker attributed its success to robust demand for high-value artificial intelligence chips and stockpiling ahead of anticipated US tariffs. A leading supplier of the popular high bandwidth memory chip, SK hynix reported Thursday that it has recorded quarterly
April 24, 2025 -
NongHyup chief visits New York to bolster global financial push
Kang Ho-dong, chair of the National Agricultural Cooperative Federation — South Korea’s largest cooperative and the parent of NongHyup Financial Group — visited New York this week to inspect the group’s financial operations, signaling renewed efforts to expand its global footprint. The trip on Wednesday marked Kang’s first overseas inspection since taking office in January 2024. He received performance briefings at NongHyup Bank’s New York branch and NH Investment & Securities’ local unit, the g
April 24, 2025 -
Reciprocal tariffs removal, auto barriers top agenda at Korea-US talks: Ahn
South Korean Minister of Trade, Industry and Energy Ahn Duk-geun said eliminating the US' “reciprocal” tariffs against Korea and resolving auto-related issues were the top priorities of upcoming high-level talks in Washington. Ahn is set join Deputy Prime Minister and Finance Minister Choi Sang-mok for the first “2+2” trade consultation with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer at 8 a.m. Thursday in Washington (9 p.m. Thursday, Korea time). “Basically, o
April 24, 2025 -
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman
Donald Trump Jr., the eldest son of US President Donald Trump, is scheduled to visit South Korea next week on what will be his first trip to the country since the inauguration of the second Trump administration, according to industry sources Thursday. Trump Jr. is visiting at the invitation of Shinsegae Group Chair Chung Yong-jin, who reportedly extended the offer during a recent visit to Mar-a-Lago, President Trump’s private residence in Palm Beach, Florida. According to sources, Chung conveyed
April 24, 2025 -
Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources
Samsung Electronics Co. is expected hold the summer edition of its Galaxy Unpacked event in July in New York, industry sources said Thursday. At the event, Samsung Electronics will unveil the latest versions of its foldable smartphone series, the Galaxy Z Fold 7 and Galaxy Z Flip 7, according to the sources. The exact date of the event has not yet been finalized. It is the first time in nearly three years that Samsung Electronics will debut its new Galaxy smartphones in New York following the ev
April 24, 2025 -
Hyundai Motor partners with India's IIT Delhi to open mobility research center
Hyundai Motor Group said Thursday it has partnered with the Indian Institute of Technology Delhi to establish a new research center in India aimed at advancing future mobility technologies, with a focus on electrification and battery systems. Under their partnership agreement signed Wednesday, the two sides will establish the Hyundai Center of Excellence, which will serve as a hub for joint research projects under a long-term academic-industry cooperation framework. Hyundai Motor Co. and Kia Cor
April 24, 2025 -
SK hynix Q1 net profit shoots up on HBM, beats market expectations
SK hynix Inc. said Thursday its first-quarter net profit more than quadrupled on rising demand for artificial intelligence chips, including high bandwidth memory, exceeding market expectations. The world's second-largest memory chipmaker said in a regulatory filing that its net income reached 8.1 trillion won ($5.7 billion) for the January-March period, up from 1.92 trillion won a year earlier. Its operating income soared 157.8 percent on-year to 7.44 trillion won for the quarter, compared with
April 24, 2025 -
High-end modules drive LG Innotek's record Q1 sales
LG Innotek said Wednesday it has logged the highest-ever first-quarter revenue, defying typical seasonal downturns thanks to robust sales of high-end camera modules, a rebound in demand for substrates used in semiconductors and displays, and favorable exchange rate conditions. The electronic component manufacturer posted 4.98 trillion won ($3.5 billion) in revenue for the January-March period, marking a 15 percent on-year increase. The figure exceeded the 4.45 trillion won consensus by local ana
April 23, 2025 -
SK Bioscience defeats Moderna in mRNA patent dispute
SK Bioscience announced Wednesday that it has secured a definitive legal victory in its patent invalidation suit against Moderna, successfully challenging the biotech giant’s Korean patent related to messenger RNA (mRNA) vaccine technology. The contested patent covers “modified nucleosides, nucleotides, and nucleic acids and their uses” — a foundational component in mRNA-based therapeutics. Moderna’s use patent had been the only registered intellectual property in Korea pertaining to mRNA manufa
April 23, 2025