HD Hyundai, Siemens launch joint center for digital shipbuilding

The Korea Times - Oct 13, 2026

HD Hyundai and Siemens Digital Industries Software opened a joint center in Busan on Tuesday as part of their efforts to accelerate digital transformation in the shipbuilding industry. HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s shipbuilding intermediate holding company, held an opening ceremony for the Global Marine Center, attended by key officials from both companies, including CEO Kim Hyung-kwan and Siemens Digital Industries Software Chief Revenue Officer Robert Jones. The center will house about 50 professionals from both companies specializing in ship design, production, artificial intelligence (AI) platforms and product lifecycle management. It will serve as a key hub for combining HD Hyundai’s shipbuilding expertise with Siemens’ digital engineering technology. The two companies signed an agreement in July to work together on establishing a next-generation marine platform, a project that aims to connect all aspects of shipbuilding, from design, production and supply chain management to quality control and maintenance with AI and digital technology. The cente

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Seoul AI startup secures prized gateway to US market via New York program

Oct 13, 2026

Seoul AI startup secures prized gateway to US market via New York program

A Seoul-based AI startup has joined a prestigious New York City commercialization program, opening a rare doorway to test its products with American companies and court global investors. NextPayments was the only Korean company among 14 startups selected for NYC AI Nexus, a program organized by the New York City Economic Development Corp., from more than 200 applicants worldwide, the Seoul Metropolitan Government said Tuesday. Beginning in November, NextPayments plans to conduct pilot projects with local companies, focusing on retail and food service, to test its technology and assess demand in the U.S. market. The company develops AI platforms that integrate data from offline businesses, including orders, payments, products, staffing, logistics and customer behavior, into a unified system. Through the yearlong program, selected startups receive local office space, strategic advice, introductions to potential business partners, help with proof-of-concept projects, expert consultations and assistance in attracting investment. The New York City Economic Development Corp. plans to select as

KAMCO broadens cooperation with Asian markets on bad loan management

Oct 13, 2026

KAMCO broadens cooperation with Asian markets on bad loan management

The Korea Asset Management Corporation (KAMCO) is expanding its cooperation with Asian financial authorities, drawing on nearly three decades of experience managing nonperforming loans (NPL) to help countries strengthen their financial systems, the state-run agency said Monday. Vietnam offers a clear example of that approach. In April, KAMCO signed a consulting agreement worth around $400,000 with the Asian Development Bank to help establish a legal framework for asset-backed securities (ABS) in the country. Over the next 25 months, the agency is set to assess Vietnam’s financial and legal environment, recommend regulatory improvements and help develop guidelines for issuing ABS. The project will also include training programs to strengthen local expertise. KAMCO is working to improve the infrastructure for actual transactions as well. In a consortium with Shinhan DS, it is undertaking a 2.5 billion won ($1.86 million) project to upgrade the Vietnam Asset Management Company’s online platform for NPL trading. The agency is also extending its work beyond individual markets through a br

Jinju to host international entrepreneurship forum Oct. 18-20

Oct 13, 2026

Jinju to host international entrepreneurship forum Oct. 18-20

Jinju, South Gyeongsang Province, will host the 2026 Jinju International Forum on Entrepreneurship from Oct. 18-20, bringing together United Nations officials, global business leaders and scholars to discuss entrepreneurship amid geopolitical tensions, supply chain disruptions and intensifying artificial intelligence (AI) competition. The Jinju K-Entrepreneurship Foundation said Tuesday that the forum will explore how businesses, governments and local communities can turn these challenges into opportunities for innovation and shared prosperity. Under the theme “An Era of Global Uncertainty and Digital Transformation: What Is the Role of Entrepreneurship?” the three-day forum will examine how entrepreneurship can foster innovation and shared prosperity. A key session will bring together former U.N. Economic and Social Council presidents Nestor Osorio and Martin Sajdik, former Argentine ambassador to the U.N. Martin Moritan and U.N. Assistant Secretary-General for Economic Development Navid Hanif. They will discuss opportunities and inequalities arising from AI, the sustainable develop

Shinhan becomes 1st Korean financial group to establish holding company in Indonesia

Oct 13, 2026

Shinhan becomes 1st Korean financial group to establish holding company in Indonesia

Shinhan Financial Group has officially launched Shinhan Financial Group Indonesia, becoming the first Korean financial group to establish a local financial holding company in the Southeast Asian country, the company said Tuesday. The launch ceremony was held in Jakarta on Monday, attended by Shinhan Financial Group Chairman Jin Ok-dong and local financial authorities. The new structure places Shinhan Indonesia Bank at the center of the group's Indonesian operations, with the bank taking on the additional role of a holding company overseeing its local card and securities businesses. The restructuring follows the Indonesian government's announcement requiring financial groups to establish holding companies in December 2024. Shinhan began reorganizing its local governance structure in response to the requirement and received approval from Indonesian financial authorities in September 2025. The transition was completed on Sept. 16 following the transfer of stakes in the group's local affiliates, according to the company. Under the new structure, Shinhan Indonesia Bank acquired additional stak

Shinhan Financial acquires Lotte Insurance for $518 mil.

Oct 13, 2026

Shinhan Financial acquires Lotte Insurance for $518 mil.

Shinhan Financial Group Inc., a major banking group, has decided to take over a midsize non-life insurer for 693 billion won ($518 million) to diversify its business portfolio, industry sources said Tuesday. Shinhan Financial's board of directors approved the acquisition of a 77.04 percent stake in Lotte Insurance, from private equity firm JKL Partners, and then the banking group plans to buy the remaining 22.96 percent depending on regulatory approval.

Lexus Korea unveils 1st all-electric ES sedan

Oct 13, 2026

Lexus Korea unveils 1st all-electric ES sedan

Lexus Korea has launched its first all-electric ES sedan, expanding the luxury carmaker’s electrification strategy beyond its established hybrid lineup, as it moves to strengthen its position in the increasingly competitive electric vehicle (EV) market, the company said Tuesday. The eighth-generation All-New ES lineup comprises the ES 350e and ES 500e EVs alongside the ES 350h hybrid, offering customers a choice between fully electric and hybrid powertrains. The launch carries strategic significance for Lexus, which has built its reputation in Korea largely on hybrid vehicles. While the Japanese luxury brand is well established in the premium hybrid sedan segment, it has been a latecomer to the all-electric market. “EVs are not a sudden move for Lexus Korea,” Lexus Korea CEO Manabu Konoyama told reporters during a media event. “Rather, they represent the next step, built on the experience and expertise we have accumulated through our hybrid vehicles.” The ES 350e, the entry-level electric model, starts at 71.6 million won ($53,500) and offers a driving range of 478 kilometers on

China Mobile triples capacity at mega Inner Mongolia computing hub amid nation’s AI push

Oct 13, 2026

China Mobile triples capacity at mega Inner Mongolia computing hub amid nation’s AI push

China Mobile, one of the country’s state-backed telecoms giants, has tripled the capacity of its largest intelligent computing hub in northern Inner Mongolia, amid Beijing’s push to boost digital infrastructure to power the country’s artificial intelligence ambitions. The expansion of its data centre in Hohhot was recently completed, with total processing capacity increased to 20,100 petaflops, according to a report by Inner Mongolia Daily on Monday. That was triple its previous capacity of...

‘Didn’t foot the bill’: Telstra outage cost the economy half a billion dollars, modelling finds

Oct 13, 2026

‘Didn’t foot the bill’: Telstra outage cost the economy half a billion dollars, modelling finds

Households and small businesses carried the cost of Telstra’s July outage, consumer advocates say, as the Senate debates mobile reliability laws this week.

Sim Lim Square Weekly Price List Downloads (Updated)

Oct 13, 2026

Sim Lim Square Weekly Price List Downloads (Updated)

Sometimes, last-minute in-store shopping might be your best option.

US health giant scraps weight-oriented Juniper to launch women’s health clinic

Oct 12, 2026

US health giant scraps weight-oriented Juniper to launch women’s health clinic

Eucalyptus co-founder Tim Doyle expects some women to baulk at the American brand, but says Hers will turn Juniper into a full women’s health clinic.

Apple’s Indie Games Week puts No Man’s Sky on iPhone and iPad

Oct 12, 2026

Apple’s Indie Games Week puts No Man’s Sky on iPhone and iPad

The game arrive on 28 October with every major expansion to date, and with touch controls for Apple mobile devices.

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