Megaspeed rejects claims over supply chain, distances itself from Alice Huang

South China Morning Post - Nov 15, 2026

Megaspeed, the Singaporean company caught in the Nvidia controversy, has pushed back against reported claims about its supply chain practices and distanced itself from former executive Alice Huang. The firm said in a statement on Sunday that it “conducts legitimate and lawful business” and had hired external legal counsel to investigate media reports concerning its business, supply chain and global operations. Megaspeed said Huang officially left the company on August 30, 2025, and no role...

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Antitrust fines to hit brokerage, bank earnings but leave capital buffers intact: KIS report

Nov 14, 2026

Antitrust fines to hit brokerage, bank earnings but leave capital buffers intact: KIS report

Korea’s largest-ever antitrust fine will cut into this year’s earnings at the brokerages and banks that underwrite government debt, but it is unlikely to weaken their capital buffers, according to Korea Investors Service (KIS), a Moody’s affiliate. In a report released earlier this week, the credit rating agency said the penalties imposed by the Korea Fair Trade Commission (FTC) will make “a short-term decline in profitability unavoidable,” especially at the firms facing the largest penalties. It added that their capital strength and the earnings they built up in the first half should be enough to absorb the cost, creating a formidable yet manageable financial hurdle for the country's primary financial institutions. The regulatory crackdown stems from an investigation into primary dealers in Korea's sovereign debt market. The FTC issued corrective orders on Wednesday and imposed roughly 1.6 trillion won ($1.2 billion) in combined fines on 15 financial institutions — all designated primary dealers responsible for underwriting Korea Treasury bonds — for restricting competit

ICT ministry to inspect domestic disruptions after Microsoft services outage

Nov 14, 2026

ICT ministry to inspect domestic disruptions after Microsoft services outage

The ICT ministry said Saturday it will inspect disruptions to domestic companies' operations following a global outage of tech giant Microsoft's services. Microsoft 365 services experienced disruptions earlier this week, with some companies in the country reporting difficulty accessing their emails Friday. The Ministry of Science and ICT said it plans to check the restoration of the company's services and possible damage to users in South Korea by working with Microsoft Korea. It added that it will form a joint emergency response team with the company to continue monitoring the situation.

BLAST Premier Rivals Hong Kong kicks off with thousands of Counter-Strike fans, as Singapore prepares for its return in 2027

Nov 14, 2026

BLAST Premier Rivals Hong Kong kicks off with thousands of Counter-Strike fans, as Singapore prepares for its return in 2027

Counter-Strike fans turned out in force as MOUZ and Team Falcons delivered some early surprises in Hong Kong.

Shop, scan, save: how to use OCBC overseas QR payments in 7 destinations

Nov 13, 2026

Shop, scan, save: how to use OCBC overseas QR payments in 7 destinations

Travellers can unlock perks at merchants in 7 countries and stores like Don Quijote, Shake Shack and 7-Eleven, without juggling multiple apps or loyalty programmes.

Will Jensen Huang’s downfall tip the scales against open-source AI?

Nov 13, 2026

Will Jensen Huang’s downfall tip the scales against open-source AI?

Jensen Huang’s abrupt resignation from Nvidia has cast uncertainty over the US chip giant’s multibillion-dollar investments in open-source artificial intelligence, while potentially depriving Chinese developers of one of their most influential advocates in Washington. His departure could prompt Nvidia to scale back spending on open-weight models and their supporting infrastructure, analysts said, although strong commercial incentives would likely keep the company committed to the broader...

China's memory makers are catching up. What happens when they do?

Nov 13, 2026

China's memory makers are catching up. What happens when they do?

The memory business has rarely had it this good, thanks to the artificial intelligence (AI) boom. Korea’s chipmakers are reporting extraordinary earnings and unusual confidence that the good times will last. SK hynix’s third-quarter operating profit rose more than sevenfold to 83.3 trillion won ($62 billion), an operating margin of almost 80 percent. Samsung Electronics’ rose nearly ninefold to 107.4 trillion won, with its memory business setting records of its own. Across the West Sea, China’s challengers are sharing in the windfall. ChangXin Memory Technologies (CXMT) remains far smaller, but its quarterly revenue rose more than sevenfold to 118.7 billion yuan ($17.8 billion), with a net profit attributable to shareholders of 54.4 billion yuan, reversing years of losses. CXMT and Yangtze Memory Technologies (YMTC) are the twin pillars of China’s drive for memory self-sufficiency, part of Beijing’s broader pursuit of technological independence facing U.S. export restrictions. Fresh capital, new factories and increasingly sophisticated technology are helping them challenge th

Conversion of credit card points to cash vouchers to be allowed starting May

Nov 13, 2026

Conversion of credit card points to cash vouchers to be allowed starting May

Credit card users will be able to convert their dormant reward points into regional cash vouchers starting May next year, officials said Friday, as part of efforts to boost consumption and breathe vitality into local economies, The government announced the measure after President Lee Jae Myung instructed officials in late June to allow the conversion of "various hidden or dormant points into local currency to boost consumer vitality and revitalize traditional markets and neighborhood shops," officials said. The Office for Government Policy Coordination under the prime minister's office has since worked with the interior ministry, the Financial Services Commission and the Korea Financial Telecommunications and Clearings Institute to come up with details, officials said. Credit card points will be the first to be allowed for the conversion. Accumulated card points amount to 2.1 trillion won ($1.57 billion) and such points already have well-established systems for conversion into cash, officials said. Once the conversion service begins in May, card users can use "account info" or "regional c

Google complies with Korea's security requirements for high-precision map data: gov't

Nov 13, 2026

Google complies with Korea's security requirements for high-precision map data: gov't

The Korean government said Friday that Google has complied with security requirements imposed as a condition for allowing the transfer of high-precision map data overseas. The Ministry of Land, Infrastructure and Transport said a government-led consultation body reviewed Google's implementation of security measures following its conditional approval in February to export 1:5,000-scale digital map data. The review found that the global tech giant had implemented measures to prevent the exposure of geographic coordinates, as well as sensitive military and security facilities, on its global Google Maps and Google Earth services, including web and mobile platforms. To meet the requirements, Google developed a dedicated control system for Korea and introduced safeguards to block app updates if they risk exposing restricted geographic coordinates. In August, Google also signed an agreement to obtain satellite imagery processed for security purposes by the National Geographic Information Institute (NGII) through a local partner. Google is said to have chosen the local navigation company, TMAP Mo

Hourslong Microsoft outage disrupts Korean companies' daily operations

Nov 13, 2026

Hourslong Microsoft outage disrupts Korean companies' daily operations

A global Microsoft outage disrupted operations at major Korean companies on Friday, leaving some employees unable to access emails, coordinate with business partners and manage daily workflows as the tech giant struggled to restore its systems. The disruption affected multiple Microsoft services, including its Outlook email, parts of its Teams messaging app, Microsoft 365 productivity tools and Copilot artificial intelligence (AI) assistant. While the impact varied by company depending on the services used, some employees were forced to postpone work or turn to alternative communication channels. Some major companies sent urgent companywide notices alerting employees about the outage and asking them to check which Microsoft services were affected. Some companies also circulated email notices identifying services that were unavailable. An information technology (IT) industry official said employees had turned to other messaging apps to keep some work moving but the workaround offered only limited relief. “Since we cannot use email, we are exchanging files through messaging apps. But some

Woori Bank chief wins extra year as rivals await term decisions

Nov 13, 2026

Woori Bank chief wins extra year as rivals await term decisions

Woori Bank CEO Jung Jin-wan has secured a one-year extension of his term, becoming the first among the heads of Korea's five major commercial banks whose terms expire at the end of this year to win another term. Woori Financial Group said Friday that its subsidiary CEO recommendation committee decided to recommend Jung for an additional year, extending his term through Dec. 31, 2027. His reappointment is subject to final approval at a shareholders' meeting scheduled for later this month. Jung was initially appointed in November 2024 for a two-year term, with the possibility of a one-year extension based on his performance. Announcing the recommendation results, Woori Financial pointed to his efforts to strengthen the bank's capital position, expand its digital platform businesses and advance inclusive finance initiatives during his tenure. In particular, the group said Jung had raised Woori Bank's common equity Tier 1 capital ratio — which lagged behind those of rival lenders when he took office — to the second-highest level among commercial banks. Woori Financial also cited his effort

KAI, Indonesia's PTDI to expand KF-21 production partnership

Nov 13, 2026

KAI, Indonesia's PTDI to expand KF-21 production partnership

Korea Aerospace Industries (KAI) said Friday it has agreed to expand cooperation with Indonesia's state-run aircraft manufacturer PT Dirgantara Indonesia (PTDI) in the field of aviation, including KF-21 fighter jet production. KAI and PTDI signed three memorandums of understanding (MOUs) covering the KF-21 fighter jet, flight simulators and commercial aircraft on the sidelines of the 12th Korea-Indonesia Defense Industry Cooperation Committee meeting held in Jakarta on Wednesday. Under the KF-21 agreement, the two companies will explore cooperation on manufacturing aircraft components in Indonesia, including three types of structural components, with PTDI participating in the production process. Indonesia has maintained close defense industry ties with KAI, having purchased the company's KT-1 basic trainer aircraft and T-50 advanced trainer jets. The Southeast Asian country has also participated as an international partner in the joint development of the KF-21 fighter jet. KAI has exported 20 KT-1B trainer aircraft to Indonesia and signed a contract to extend their service life. It has a

Nvidia confirms planned supply of GPUs to S. Korea despite Huang's resignation: science minister

Nov 13, 2026

Nvidia confirms planned supply of GPUs to S. Korea despite Huang's resignation: science minister

U.S. tech giant Nvidia Corp. has confirmed its commitment to deploying up to 260,000 graphics processing units (GPUs) in South Korea in partnership with South Korean companies, Seoul's science minister said Friday. In October, Nvidia announced a plan to supply GPUs to South Korea to build large-scale artificial intelligence (AI) factories in the country. In a post on Facebook, Science Minister Bae Kyung-hoon stressed that business cooperation will continue despite Huang's resignation adding that the science ministry has held a meeting with Nvidia on pending issues. The business tie-up plans announced last year involve the South Korean government and major industry leaders, including Samsung Electronics, SK Group, Hyundai Motor Group and Naver Cloud, that will each establish their own AI computing centers powered by Nvidia's latest Blackwell GPUs. A GPU is a high-performance semiconductor chip designed to handle many calculations simultaneously and is widely used to train and run AI models.

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