The chief of Korea's space agency said Wednesday preparations for the fifth launch of the homegrown Nuri rocket are proceeding as planned ahead of the launch next week. Oh Tae-seok, administrator of the Korea AeroSpace Administration (KASA), made the remarks during a meeting with reporters ahead of the launch scheduled for Oct. 7 at the Naro Space Center in Goheung, about 473 kilometers south of Seoul. "Preparations have been proceeding without any problems so far," Oh said. The Nuri rocket will carry 15 satellites, including five satellites that will form part of the country's first domestically launched microsatellite constellation. The payload consists of five New-space Earth Observation Satellite Constellations for National Safety (NEONSAT) as the primary payload and 10 CubeSats as secondary payloads. Oh stressed that a key challenge will be precisely deploying all 15 satellites from the launch vehicle and placing them into their designated orbits. "The ability to launch different satellites into different orbits is a key capability for commercial launch services, so we need to build u

Cutting greenhouse gas emissions does not automatically generate revenue. Companies must first measure and verify the reductions, then have them recognized as carbon credits before they can sell them. For smaller businesses with limited staff and capital, navigating those steps can be difficult. Hooxi Partners, a climate fintech company, was founded to help close that gap. Before establishing it in 2021, CEO Lee Haeng-youl saw an opportunity in the environmental, social and governance (ESG) market as environmental gains were difficult to measure, and businesses had few ways to turn them into financial value. He believed reliable emissions data could provide the basis for tradable carbon credits. “For carbon reduction to be sustainable, those making the cuts must receive an economic reward. Telling companies to do it because it is the right thing will not work for long,” Lee said in a recent interview with The Korea Times. That idea is reflected in the company’s slogan, “We make money from carbon credits.” Since founding the company, Lee has sought to change how businesses view

Samsung Electronics held its annual artificial intelligence (AI) forum Wednesday, bringing together global experts to discuss how agentic AI — systems that can make decisions and carry out tasks on their own — can be turned into real-world business results. The Samsung AI Forum 2026, held at the company's Seocho office building in southern Seoul, marked its 10th year with the theme "The Agentic Shift: From Intelligence to Impact." Discussions focused on agentic AI and physical AI, which refers to AI that operates in the physical world, such as robots. About 400 people attended, including 100 professors and researchers from Korean graduate schools and 300 Samsung employees. The event also streamed live on YouTube. "Agentic AI will go beyond simple technological innovation to bring fundamental changes to the way we work and to organizational culture," Samsung Vice Chairman and CEO Jun Young-hyun said in his welcoming remarks. In the morning keynote session, Richard Ho, head of hardware at OpenAI, discussed how agentic AI built on large language models could change businesses and industr

Korea’s premier defense and space contractor Hanwha Aerospace has begun assembling a reusable rocket technology demonstrator, marking a critical step toward developing vertically landing launch vehicles similar to SpaceX’s Falcon 9. Hanwha Aerospace said Wednesday that it started full assembly of the demonstrator as part of a project led by the Korea Aerospace Research Institute (KARI), with Vitzro Nextech and Hanyang ENG also participating. The project aims to complete technology demonstrations by 2028, including a vertical takeoff and landing flight test designed to verify core technologies needed for reusable launch vehicles. The demonstrator stands 12.2 meters tall and 1.5 meters in diameter and is designed to carry one staged-combustion cycle turbopump engine. During a planned 2028 flight test, the vehicle is expected to rise vertically to an altitude of 500 meters within about 90 seconds before returning for a controlled vertical landing. Hanwha Aerospace said the test will focus on technologies including engine thrust control, attitude control and guidance, all considered essen

Hyundai E&C is set to begin sales of units at Hillstate Godeok Ellist, an apartment complex in Godeok International New Town in Pyeongtaek, Gyeonggi Province, this month. The complex will comprise 1,779 units across two blocks. One block will have 942 units in a 23-story building with one basement level, while the other will have 837 units in a 27-story building with two basement levels. All units will have 84 square meters of living space. Godeok International New Town is located near Samsung Electronics' Pyeongtaek campus, which is one of the company's major semiconductor production sites. With Samsung pursuing plans to expand production capacity there, the area is expected to see continued housing demand. "Hillstate Godeok Elit combines the price advantage of the apartment price ceiling system with proximity to Samsung Electronics and a well-developed residential environment," the company’s official said. "It is expected to emerge as a new landmark in Godeok, backed by the premium of the Hillstate brand." The area is also gaining new schools, shops and public facilities as the planne

Korea’s anti-corruption agency met with international business executives Wednesday morning to hear firsthand the hurdles facing global firms operating in the country. The policy roundtable, hosted by the Anti-Corruption and Civil Rights Commission at the Korea Press Center in central Seoul, brought together leaders from 10 foreign chambers of commerce. Representatives from Australia, Britain, Canada, China, France, Germany, Japan, Singapore, Spain and Sweden sat down with Korean officials to detail the operational challenges and policy grievances their member companies navigate daily. The commission organized the session as part of a broader effort to refine administrative policies and foster a more predictable, transparent business landscape. Alongside gathering feedback on local regulations, officials highlighted Korea’s recent anti-corruption milestones and clean-government initiatives, aiming to reassure international investors of the nation’s commitment to fair competition. International firms operating in Korea have long cited complex regulatory frameworks, shifting adminis

Citi has supported Hana Bank’s first $100 million digital bond issuance on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform, serving as issuing and paying agent, the global lender said Wednesday. The transaction marked the first time a Korean bank issued a foreign-currency bond on the platform and settled it on the same day, known as T+0 settlement, according to Citi. The bond also became the first digital bond listed on the Singapore Exchange. Citi coordinated issuance, settlement and delivery of the digitally native notes (DNN) to the dealer for distribution to investors through Euroclear’s settlement bank. The deal adds to Citi’s digital debt business. The lender said it has acted as issuing and paying agent for most transactions completed to date on Euroclear’s D-FMI platform. “Citi’s role in Hana Bank’s landmark issuance reflects the commercial scale we are building in digital debt markets, having supported similar transactions across diverse issuers and markets globally,” said Dirk Jones, head of Issuer Services at Citi Services. “This is a f

Hana Financial Group and the Small Enterprise & Market Service (SEMAS) have launched a joint project to support young owners of small businesses, the financial group said Wednesday. The project, dubbed "Hana On, Youth On," involves 15 teams of young small business owners from across the country. The teams will develop and carry out joint projects aimed at attracting customers and promoting local commercial districts. Hana Financial and SEMAS held a launch event Tuesday in Daejeon, attended by Hana Financial Chairman Ham Young-joo, SEMAS President In Tae-yeon and about 100 self-employed individuals taking part in the project. The initiative follows a memorandum of understanding signed by the two organizations in June to support young entrepreneurs and regional commercial districts. The participating teams will organize joint events and promotional campaigns, improve their business areas and develop other projects based on the needs of their respective local communities. Hana Financial and SEMAS will provide funding, expert consulting and tailored financial support. The project focuses on su

HS Hyosung Advanced Materials will invest $100 million to build a new carpet manufacturing plant in Vietnam, seeking to expand its presence in the global carpet and yarn markets. The company held a groundbreaking ceremony Tuesday at the Tam Thang Industrial Park in Da Nang, Vietnam, for the new facility. The company plans to add 110,000 square meters of land to its existing Quang Nam site, bringing the total area to 500,000 square meters. The site currently houses tire cord and airbag production facilities. The new plant is scheduled to be completed by 2029 and will produce bulk continuous filament (BCF) yarn and carpets for automobiles and commercial buildings. The expansion will significantly increase HS Hyosung Advanced Materials' production capacity in Vietnam and strengthen its competitiveness in the global mobility materials market, the company said. The new facility will establish an integrated yarn-to-carpet production system, covering the entire process from raw material imports and BCF yarn production to processing, tufting, backing and laminating. The company said the integrated

Lotte Group is carrying out a range of practical measures to promote mutual growth with its partner companies. The group helps ease smaller partners’ financial burden by making payments for supplied goods ahead of major holidays, while supporting their overseas expansion through brand expo events. According to Lotte, the group has been making early payments to partner companies ahead of Korea’s major holidays every year since 2013, as expenses such as employee bonuses and payments for raw materials tend to pile up before the holidays. Before this year’s Chuseok holiday last week, Lotte paid 949.5 billion won ($701 million) to over 12,000 partner companies an average of eight days earlier than scheduled. Twenty-seven Lotte companies participated in the program, including Lotte Department Store, Lotte E&C, Lotte Global Logistics and Lotte Mart. Along with early payments, Lotte has been operating various programs to support partner firms’ sustainable growth. Lotte operates a 1 trillion won Shared Growth Fund to help reduce their interest burden on loans. The group also introduced Sh

The European Chamber of Commerce in Korea (ECCK) recommended that Korean authorities ease regulations on electric vehicles (EVs) and improve predictability in the defense offset system in its annual white paper unveiled Wednesday. The ECCK regularly discusses regulatory issues with the Korean government through its industry committees, and publishes its white paper annually to convey concerns and recommendations from its member companies. This year’s edition contains 82 recommendations from 15 committees and three forums. During a press conference on the paper, ECCK Passenger Vehicle Committee Chair Kim Hong-joong urged Korea to better align its EV regulations with international standards. “We recommend improvements to electric vehicle certification and assessment procedures, as well as greater harmonization with and mutual recognition of international standards for advanced automotive technologies,” Kim said. “If Korea and Europe enhance regulatory alignment and reduce unnecessary differences in line with the spirit of the free trade agreement and international standards, it wou

Seoul will release a limited-edition skin care line featuring three of the city's iconic landmarks — the Han River, Mount Nam and Bukchon hanok village — in partnership with Korean skin care brand Mediheal, Seoul Metropolitan Government said Wednesday. The "Mediheal Seoul Edition" consists of seven products including toner pads, serums and eye patches drawn from the brand's bestselling items. Each landmark is paired with a product line, which will be released Thursday. The Han River line uses madecassoside, a compound derived from the centella asiatica plant that is used to soothe skin, while the Namsan line features PDRN, an ingredient derived from salmon DNA and marketed for pore care. The Bukchon line includes collagen and tea tree products. Mediheal was the top-selling brand at Olive Young, Korea's largest health and beauty store chain, in 2024 and 2025. The collaboration follows an earlier edition featuring Haechi, a mythical creature that serves as Seoul's official mascot. Buyers will receive pouches or luggage tags printed with images of the landmarks, along with a suggested l

Shinhan Bank's Vietnam operations are facing scrutiny over internal controls after the Southeast Asian country's central bank issued nine corrective recommendations, including shortcomings in loan screening, according to industry officials on Wednesday. The State Bank of Vietnam's regional inspection authority issued its findings on Sept. 21 after conducting a comprehensive inspection of Shinhan Bank Vietnam's Da Nang branch. The inspection covered lending operations, asset classification and loan-loss provisions, risk management, foreign exchange transactions and overseas remittances. The authorities found shortcomings in loan screening and post-loan monitoring, as some loan applications lacked sufficient documents proving borrowers' income and repayment ability. The branch also failed to collect enough information on borrowers' financial condition and the purpose of loans in some cases. "There were some shortcomings in the loan screening and approval process," the inspection authorities said in the report. The branch was also found to have failed to follow its own schedule for monitorin

GS E&C has successfully demonstrated land-based farming of Atlantic salmon using its water treatment technologies, securing capabilities that can be applied and expanded to future aquaculture projects. Eco Aquafarm, a subsidiary established by GS E&C for land-based salmon farming, held a ceremony Wednesday to mark the successful completion of the demonstration project and showcased Atlantic salmon raised at Busan Smart Aquaculture Cluster ahead of commercial shipments. GS E&C CEO Huh Yoon-hong and officials from the Ministry of Oceans and Fisheries and Busan city government attended the event, and tasted the land-raised salmon and were briefed on the company’s farming technologies. The cluster is a testbed facility capable of producing up to 500 tons of Atlantic salmon annually, with commercial shipments set to begin by the end of this year Eco Aquafarm was established in 2020 to develop a new business leveraging builder GS E&C’s water treatment technologies. Since then, the subsidiary has operated the entire farming process, from incubating Atlantic salmon eggs and raising fish, man

Korea’s national artificial intelligence (AI) foundation model project is showing signs of running aground, as the government, which launched the program and pushed it toward a final evaluation despite controversies, has begun questioning its own blueprint. Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon wrote on Facebook on Tuesday night that the project will continue despite “various projections and speculation,” adding, “I believe Korea must also pursue frontier AI at the same time.” “The gap between countries that have frontier AI and those that do not could become far wider than it is today,” Bae wrote. “But pursuing frontier AI should not mean stopping the national foundation model project. Not all AI needed in industries has to be a massive frontier model. What is needed is AI optimized for each field after considering cost, speed, security and specialization.” Bae’s post came after reports that the ICT ministry is conducting a comprehensive review of the project’s direction, including whether to proceed with its final-round evaluation.

General Motors (GM) Korea launched its premium auto brand Buick at an event in Seoul on Wednesday, signaling a stronger commitment to the Korean market amid persistent speculation over the carmaker's possible withdrawal from the country. The launch brings to four the number of brands GM Korea operates in Korea — Chevrolet, Cadillac, GMC and Buick — as the automaker seeks to broaden its customer base. Buick’s first model for the Korean market is the Electra E7 plug-in hybrid SUV, which combines a gasoline engine with an electric motor. “Now we are going to have four brands,” GM Korea CEO Hector Villarreal said during a media showcase. “That means we will be able to appeal to all customer segments, and with that, we are expecting better results.” “Having said that, what is important is the comfort, convenience and choices that we bring to the Korean market. This is what we are aiming for, and with the four brands, we are confident we are on the right path here,” he added. However, Villarreal declined to directly answer questions about whether GM Korea plans to allocate mo

Hyundai Mobis, Korea's biggest auto parts maker, said Wednesday it has signed a deal to sell its lamp unit to French auto parts maker OPmobility for 600 billion won ($443 million) following its spin-off in April. Under the deal, Hyundai Mobis will sell its 100 percent stake in the lamp division to OPmobility as part of efforts to secure a sustainable growth base and better respond to the rapidly changing mobility market, the company said in a press release. "The decision will serve as a significant turning point for the company to transform into a future mobility solutions provider, while ultimately helping enhance its corporate and shareholder value," the company said. Hyundai Mobis' lamp business has five plants in Korea, China, Mexico and the Czech Republic, with overall sales reaching 2.5 trillion won last year, according to OPmobility. The French firm said it expects the acquisition to bolster its lamp business and strengthen its competitiveness in the rapidly evolving mobility industry. It aims to complete the acquisition in the second half of 2027 after obtaining antitrust and regu

The US artificial intelligence giant Anthropic has warned of the potential danger posed by Chinese firm Z.ai’s GLM-5.3, with the open-weight model showing a troubling mix of powerful hacking abilities but weak safety constraints. GLM-5.3 almost matches Anthropic’s most advanced model in terms of its cyber capabilities, but has far weaker safeguards, meaning there is greater potential for the model to be co-opted by bad actors, according to the San Francisco-based firm. In a report released on...

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Apple has claimed the top spot in China’s smartphone market following the release of its iPhone 18 Pro series, giving a potential boost to a sluggish handset market weighed down by weak consumer demand and soaring component costs. Sales of the new Pro models in their first three days after launching on September 18 were 12 per cent higher than sales of the iPhone 17 Pro line-up during its entire first week last year, according to a report published on Wednesday by Counterpoint Research. That...

The head of Dunamu, Korea's largest virtual asset exchange, said Wednesday his company hopes to connect the country's finances with the global on-chain system, mentioning the comprehensive equity exchange with portal operator Naver Corp. as part of the company's global expansion strategy. Oh Kyoung-suk, chief executive officer (CEO) of Dunamu Inc., made the remarks at the Korea Blockchain Week 2026, an international industry event that kicked off its two-day run in Seoul, adding that connecting Korea with the global market is the company's "next task." "We plan to build a common infrastructure where various financial players can participate," he said. "If the country secures accessibility, connectivity and export possibility (in the digital asset space) it could leap into an important financial hub." To attain such a goal, Oh said his company will start with connecting the Web 3 financial infrastructure with the Web 2 consumer payment platform, possibly referring to Naver Financial Corp., which operates the payment service Naver Pay. Dunamu and Naver Financial decided to merge last year

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John Ternus is reportedly restructuring Apple into a leaner, more engineering-focused company while pushing for a faster product and innovation cycle.

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Korea’s largest fashion shopping platform Musinsa is currently under investigation by the Seoul Regional Tax Office over CEO Cho Man-ho’s alleged appropriation of corporate funds for his real estate investment spinoff firm, Lapel. The investigation, which began last month, is being led by Investigation Bureau 4. Unlike other offices that primarily handle regular tax audits, Bureau 4 is known for conducting special investigations that can begin without prior notice and, in serious cases, develop into tax offense investigations, potentially exposing the targets to criminal complaints and significant business risks. The Bureau 4 investigation began while the Fair Trade Commission (FTC) was still investigating Musinsa in a separate case, which concluded earlier this month. The antitrust watchdog looked into whether Musinsa prevented some partner brands from selling through other retail channels in order to secure exclusive sales of their products. The investigation, which began in August 2024, ended with the FTC concluding that the arrangements were part of normal business or marketing

Samsung Electronics and five of its affiliates will invest $1 billion in Helix Digital Infrastructure, an artificial intelligence (AI) infrastructure firm established by global investment firm KKR, as part of their efforts to strengthen their foothold in the broader data center ecosystem. Samsung Group said Tuesday that Samsung Electronics, Samsung C&T, Samsung SDS, Samsung SDI, Samsung Life Insurance and Samsung Fire & Marine Insurance will invest in Helix. Samsung Electronics will contribute $500 million, with the other affiliates investing the remaining $500 million. Helix was established in June as an AI infrastructure company providing integrated services across hyperscale data center development and operation, power generation, power transmission and distribution infrastructure, fiber-optic networks and other network infrastructure. It is led by CEO Adam Selipsky, former CEO of Amazon Web Services. The Samsung affiliates will join KKR, the Kuwait Investment Authority, Nvidia and U.S. power company Vistra as founding investors in Helix. The companies did not disclose details of thei

Korea's overseas direct investment rose 32.3 percent in the second quarter of 2026 from a year earlier, data showed Tuesday, led by the financial and communication sectors. Overseas direct investment by Korea totaled $20.52 billion in the April-June period, up from $15.5 billion from the same three month period in 2025, according to the Ministry of Finance and Economy. The figure has posted on-year growth since the third quarter of 2025. By sector, overseas investment in the financial and insurance industry jumped 33.4 percent to $10.48 billion. The finance ministry attributed the increase to Korean businesses' efforts to diversify their global portfolios. Overseas direct investment in manufacturing rose 3.2 percent on-year to $3.57 billion. Investment in the information and communication sector more than tripled to $2.73 billion, the data showed. By destination, investment in the United States rose 53.6 percent to $8.86 billion, followed by Japan at $2.46 billion, sharply up from $300 million a year earlier. Investment in Luxembourg rose 14.2 percent to $1.59 billion, the latest findings sh

The chief of Korea's antitrust watchdog said Tuesday he will work to "restore justice" after a local court recently cleared the way for the agency to resume its stalled probe into U.S.-listed e-commerce giant Coupang Inc. Ju Biung-ghi, head of the Fair Trade Commission (FTC), made the remarks during an interview with local radio broadcaster CBS, signaling the agency's intention to resume its investigation. Last month, Coupang refused to cooperate with the watchdog's on-site probe into allegations the company had shifted the costs of discounts onto its suppliers and asked a court to suspend the inspection. The court initially granted a temporary suspension of the FTC's on-site inspection but eventually rejected Coupang's request to halt the probe last week. "(Coupang) deals with various vendors, and the company could be subject to regulatory action if it has imposed unfavorable terms on them," Ju said. "It is a relief the judge handling the case ruled in favor of the public interest, including the rights of the economically vulnerable and hundreds of thousands of small merchants," he added

Celltrion will use one of the world's largest pharmaceutical trade shows next month to seek partners in new drug development, contract manufacturing and supply chains, the Korean biopharmaceutical company said Tuesday. The company will take part in CPHI Worldwide, which runs Oct. 6-8 in Milan. Now in its 37th year, the event covers pharmaceutical manufacturing, supply chains and contract development and manufacturing. More than 60,000 industry professionals from about 2,400 companies in some 170 countries are expected to attend. Celltrion, best known for biosimilars — lower-cost versions of biologic drugs whose patents have expired — said it will look for partners in oncology, obesity and metabolic diseases, and autoimmune diseases. The company said its new drug research in these areas has recently begun producing results. It described the effort as part of its push to become a global developer of new drugs. As demand for its main products grows, the company also plans to strengthen existing partnerships with overseas raw material suppliers and contract manufacturers. It will look f