IBK launches Vietnamese subsidiary to expand support for SMEs

The Korea Times - Oct 14, 2026

Industrial Bank of Korea (IBK) officially launched its Vietnam subsidiary in Hanoi, aiming to expand financial support for Korean companies operating in the country and serve as a bridge for financial cooperation between the two countries, the state-run lender said Wednesday. The launch ceremony, held in Hanoi on Tuesday, came after the lender completed the establishment process following final approval from the State Bank of Vietnam in April. The subsidiary began operations on Sept. 25. The subsidiary is Vietnam's 10th foreign-owned bank, according to IBK. IBK Vietnam Bank plans to build on the operating experience of IBK's branches in Hanoi and Ho Chi Minh City, as well as the state-run lender's more than six decades of expertise in policy financing for small and medium-sized enterprises (SMEs). The bank will expand its network around major industrial complexes to better serve Korean businesses operating in Vietnam and provide financing to support productive investment and economic cooperation between the two countries. "IBK Vietnam Bank's official launch marks a new chapter in our loca

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Oct 14, 2026

LG Electronics emerges as Apple's home AI ally

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Oct 14, 2026

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Hyundai Motor Group bets $15.5 billion on India as global auto hub

Oct 14, 2026

Hyundai Motor Group bets $15.5 billion on India as global auto hub

Hyundai Motor Group said on Tuesday it would invest $15.5 billion in India through 2032, deepening its bet on the world's third-largest car market as a key driver of future growth. The South Korean automaker's seven-year plan includes about $700 million of investment in its Indian research and development centre, expansion of production capacity and a dedicated investment entity. India, the world's third-largest car market, is attracting billions of dollars in investment from global automakers seeking to tap rising demand and expand local manufacturing capacity, underscoring its position as a major automotive production hub. Hyundai said last year it would invest $5 billion to expand its manufacturing and research operations in India. Japan's Suzuki Motor, the majority owner of India's largest carmaker by volume, Maruti Suzuki, also laid out plans in 2025 to invest about $8 billion in the country. Carmakers such as Toyota and Honda have committed to expanding their manufacturing ambitions in India as well. Hyundai Motor, which employs more than 24,000 people in India, said the investment w

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Oct 13, 2026

Delivery fee cap risks shifting costs to riders, consumers

Pending bills at the National Assembly proposing a cap on delivery platform fees charged to food businesses to reduce their financial burdens, particularly small businesses with limited customer bases, are raising questions about the effectiveness of the proposed changes. Industry experts have examined the current ecosystem, which consists of food-ordering platforms, participating businesses, customers who place orders and riders who deliver them. They found that the cap could reduce the burden on businesses using the platforms but shift that cost to other groups in the ecosystem, such as riders and consumers. Three bills proposing different versions of the cap are pending at the National Assembly. One was proposed by Rep. Lee Kang-ill of the ruling Democratic Party of Korea, a member of the National Policy Committee. He proposed capping the combined brokerage fee, payment processing fee and advertising expenses at 15 percent of an order's value, while imposing a separate cap and a minimum floor on delivery fees. Rep. Park Jeong-hun of the main opposition People Power Party (PPP) propo

CJ OliveNetworks teaches elementary students self-driving car coding

Oct 13, 2026

CJ OliveNetworks teaches elementary students self-driving car coding

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AI supply chain exposure splits Q3 outlook for Samsung, LG parts units

Oct 13, 2026

AI supply chain exposure splits Q3 outlook for Samsung, LG parts units

Exposure to the artificial intelligence (AI) supply chain is splitting the third-quarter earnings outlooks for LG Innotek and Samsung Electro-Mechanics. The former faces weaker earnings prospects because of its optics-heavy sales mix and sensitivity to foreign exchange fluctuations, while the latter is offsetting currency-related pressure with a growing contribution from multilayer ceramic capacitors (MLCCs) and semiconductor substrates. According to market tracker FnGuide on Tuesday, brokerages’ consensus estimate for LG Innotek’s third-quarter operating profit stood at 202.9 billion won ($152 million), down 32.8 percent from 302 billion won a month earlier. The revenue forecast was also lowered to 6.1 trillion won from 6.32 trillion won over the same period. The worsening earnings outlook weighed on LG Innotek shares, which plunged 15.47 percent on Monday. The biggest factor appears to be foreign exchange fluctuations, as raw materials and inventories purchased or produced when the won was weaker are being reflected in sales at a stronger won, hurting profit margins. “The sharp de

LG Uplus app AI moves beyond Q&A to handle payments, roaming

Oct 13, 2026

LG Uplus app AI moves beyond Q&A to handle payments, roaming

LG Uplus is upgrading the artificial intelligence (AI) search engine in its customer app into an active agent that completes tasks rather than just answering questions, the company said Tuesday. Korea’s third-largest mobile carrier is gradually converting the AI search in U+one, its all-in-one customer app, into what it calls an “actionable AI agent.” Through U+one, subscribers can check their plans and bills, make payments and sign up for services such as roaming and add-ons. The company launched a bill payment agent in August and a roaming agent in September. The previous AI search answered queries and then sent users to the relevant app screen. The new agents analyze customers’ actual usage data, recommend services and complete payments or sign-ups once the user confirms, all within a single conversation. The bill payment agent answers questions such as “How much is my bill this month?” When a bill has changed from the previous month, it explains why by breaking down items such as roaming, add-on services, small mobile payments and device installments. Users can pay without

KAIST's HBM pioneer honored with S&T Innovation Award

Oct 13, 2026

KAIST's HBM pioneer honored with S&T Innovation Award

As artificial intelligence (AI) drives demand for ever-faster computing, Kim Joung-ho, a professor from Korea Advanced Institute of Science & Technology (KAIST), credited with helping lay the foundations for high-bandwidth memory (HBM), will receive a science and technology innovation award recognizing his contributions to Korea’s semiconductor industry. The Daejeon Development Committee will present the Science and Technology Innovation Award to Kim at 11 a.m. on Thursday at Lotte City Hotel Daejeon, honoring the professor for his research and role in advancing the development and commercialization of HBM. Kim, a professor in KAIST’s School of Electrical Engineering, has spent three decades researching next-generation memory technologies, including HBM, high-bandwidth flash and high-bandwidth SRAM, according to the committee. He proposed core concepts and the basic architecture of HBM and participated in key design and technology validation work during its development in 2009, contributing to SK hynix’s commercialization of the technology in December 2013, which the committee des

Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Oct 13, 2026

Samsung showcases next-generation AI memory at OCP, highlights AMD partnership

Samsung Electronics showcased next-generation memory and storage technologies at the 2026 OCP Global Summit in the United States on Monday (local time), highlighting its efforts to improve artificial intelligence (AI) infrastructure and expand cooperation with global technology companies. The Korean tech giant jointly demonstrated a memory expansion solution with AMD and displayed products related to AI chipmakers Groq and Nvidia at the event, where Samsung participated as a Diamond Sponsor. As AI models grow larger and AI agents handle increasingly complex tasks, demand is rising for memory capacity, faster data processing and more efficient storage. Samsung presented technologies designed to address these challenges across three areas: computing speed, memory expansion and data storage. A key highlight was the joint demonstration with AMD of a Compute Express Link (CXL)-based memory expansion solution. CXL allows processors and other computing components to share memory resources, helping AI systems access additional capacity without relying solely on memory installed directly in indi

Bond, CD issuance climbs 11.1% in Q3

Oct 13, 2026

Bond, CD issuance climbs 11.1% in Q3

Sales of bonds and certificates of deposits (CDs) in Korea rose more than 11 percent in the third quarter of this year from a year earlier, data showed Tuesday. The value of debt instruments issued during the third quarter came to 178.3 trillion won ($134 billion), up 11.1 percent from a year earlier, according to the data from the Korea Securities Depository. Bond sales jumped 13.8 percent on-year to 166.4 trillion won, while CD issuance sank 16.8 percent to 11.9 trillion won. Compared with a quarter ago, however, sales of bonds and CDs fell 1.9 percent. The Bank of Korea lifted its key rate to 3 percent over two straight meetings in July and August, marking the first back-to-back rate hikes since January 2023.

SK earthon begins oil production at offshore field in Vietnam

Oct 13, 2026

SK earthon begins oil production at offshore field in Vietnam

SK earthon, a Korean oil exploration and production (E&P) company, said Tuesday oil production has recently begun at an offshore field in Vietnam where it holds a stake. U.S.-based Murphy Oil Corp., the operator of Block 15-1/05, began production at the Lac Da Vang field in the Cuu Long Basin late last month, SK earthon said in a press release. SK earthon holds a 25 percent stake in the block, having invested in the project in 2007. Murphy Oil and Vietnam's state-run PetroVietnam Exploration Production Corp. (PVEP) hold 40 percent and 35 percent stakes, respectively. The block is estimated to contain total oil reserves of 60 million barrels, with production expected to reach up to 25,000 barrels per day when the project is fully developed, the company said. "We will continue to expand its oil exploration and development activities in Vietnam to secure a stable energy supply amid rising geopolitical tensions and supply chain disruptions," a company official said. SK earthon has been expanding its E&P operations in China and Southeast Asia to help improve the profitability of its parent com

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