The new RS5 is the first Audi RS car to feature a hybrid powertrain.
Sep 30, 2026
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
