MiCo completes NEM Energy acquisition amid AI-driven gas power boom

The Korea Times - Sep 10, 2026

MiCo Group has completed its acquisition of Dutch power equipment maker NEM Energy, seeking to capitalize on surging demand for gas-fired power plants as the rapid expansion of artificial intelligence (AI) and data centers strains electricity supplies in North America. MiCo said Tuesday that its subsidiary Hyundai Heavy Industries Power Systems (HPS) had completed payment for acquiring NEM Energy, formally closing the deal. The group plans to combine NEM Energy’s engineering expertise and global customer network with HPS’ large-scale manufacturing capabilities to strengthen its position in the gas-fired power market, particularly in North America. The acquisition comes as power availability has emerged as a critical constraint on the expansion of AI infrastructure. The construction of data centers for generative AI and cloud services is driving electricity demand sharply higher, while utilities and developers are turning to gas-fired generation to provide stable power alongside renewable sources. Major gas turbine manufacturers, including GE Vernova and Siemens Energy, have seen thei

Read full article

More News

HD Hyundai Heavy to bet $747 mil. in power-generation engine, SMR

Sep 10, 2026

HD Hyundai Heavy to bet $747 mil. in power-generation engine, SMR

HD Hyundai Heavy Industries will invest 1 trillion won ($746.7 million) in land-based power generation engines and small modular reactors (SMRs) to strengthen its presence in the artificial intelligence (AI) infrastructure market. The company said in a regulatory filing Thursday that it will invest 1.07 trillion won to build a new production base for power generation engines and a dedicated manufacturing facility for SMRs. Of that amount, HD Hyundai Heavy Industries will invest 833.6 billion won to build a new production base for its HiMSEN engines in Ulsan, with an annual production capacity of 3 gigawatts. The new production base will occupy a 215,000 square meter site and will include an engine assembly and testing plant, a crankshaft machining plant and other production facilities. Construction is scheduled to begin in the first quarter of next year, with completion slated for May 2028. When completed, HD Hyundai expects to it will secure 4 gigawatts of annual production capacity for land-based power generation engines. The new plant and HD Hyundai Engine in Yeongam, Jeonnam-Gwangju

Meta in talks with Seoul on social media restrictions for children

Sep 10, 2026

Meta in talks with Seoul on social media restrictions for children

Meta Platforms, the parent company of Facebook and Instagram, said Thursday it is in talks with the Korean government on measures to limit children's use of social media. Philip Chua, Meta's Asia-Pacific general manager for product public policy, made the remarks during a "Screen Smart" roundtable in Seoul. He said Meta has been discussing with the Korean government what measures would be appropriate to protect teenagers from online harm on social media platforms. "Teenagers use many different apps, so no single company can provide the entire solution. Youth safety needs to be addressed across the industry, with consistent, age-appropriate standards that apply throughout the app ecosystem," Chua said. He mentioned measures such as limiting children's use of Facebook and Instagram to two hours a day and restricting their access to the platforms during late-night hours. "Meta has not waited for regulation. We have built Teen Accounts, introduced strong safety protections by default and completed the rollout for teens in Korea. We will continue to refine these protections and work with polic

Hyundai Steel signs 1st subcontractor deal under yellow envelope act

Sep 10, 2026

Hyundai Steel signs 1st subcontractor deal under yellow envelope act

Hyundai Steel became the first domestic company to sign a collective bargaining agreement with subcontracted workers Thursday since the yellow envelope act took effect in March, expanding the bargaining obligations of primary contractors toward subcontracted workers. According to the labor ministry, Hyundai Steel held a collective agreement signing ceremony at its Dangjin plant, attended by labor and management representatives from the steelmaker and four subsidiaries — Hyundai ITC, Hyundai IEC, Hyundai IMC and Hyundai ISC. They signed the 2026 collective bargaining agreement between the prime contractor and subcontractors, the ministry said. Hyundai Steel's management has conducted separate negotiations, primarily over industrial safety issues, with the labor and management of the four subcontractors since Aug. 20. They subsequently reached a final agreement, which includes a commitment to continuously improve industrial safety and health management systems at the subcontractors, the ministry noted. The yellow envelope act has made prime contractors more accountable for subcontracted w

DeepSeek says new Flash AI model beats Kimi K3 on cyber, coding benchmarks

Sep 10, 2026

DeepSeek says new Flash AI model beats Kimi K3 on cyber, coding benchmarks

DeepSeek has released its V4.1 Flash model, claiming it outperforms its previous flagship while cutting inference costs and boosting speeds – the latest salvo in China’s aggressive price-and-performance war. The Chinese artificial intelligence developer said on Thursday that V4.1 Flash used a new “Causal-Encoder-Decoder” architecture. While built on a massive 552 billion-parameter framework, it relies on a Mixture-of-Experts (MoE) design. In traditional AI, every query runs through the entire...

Apple enters a crowded foldable smartphone market in China – can it beat Huawei?

Sep 10, 2026

Apple enters a crowded foldable smartphone market in China – can it beat Huawei?

Apple’s long-awaited entry into the foldable smartphone market, the iPhone Duo, has drawn immediate attention in China over its eye-watering price tag and exclusive dual-eSIM design, as the American tech giant targets entrenched domestic rivals Huawei Technologies and Xiaomi. Unveiled on Wednesday, the iPhone Duo – Apple’s thinnest and most expensive flagship model yet – captured the attention of Chinese consumers with its smooth transition between inner and outer displays. By Thursday morning,...

‘We must be stopped’: Why Australia needs to listen to the experts on AI

Sep 10, 2026

‘We must be stopped’: Why Australia needs to listen to the experts on AI

An AI safety researcher emailed me this week to say human extinction is a real threat. He is no longer an outlier in his own field.

After Apple’s launch of its foldable iPhone, what are the caveats for Chinese buyers?

Sep 10, 2026

After Apple’s launch of its foldable iPhone, what are the caveats for Chinese buyers?

Apple unveiled the iPhone Duo, its first-ever foldable smartphone, at its annual product launch event on Wednesday in Cupertino, California, following months of mounting anticipation. Presented by CEO John Ternus, the sleek, passport-style device stole the spotlight at the Apple Park event. Ternus, who took over from Tim Cook on September 1, said the handset would “redefine the experience of using a foldable phone”. Starting at US$1,999 – or HK$17,499 (US$2,231) if bought in Hong Kong – Apple’s...

Apple iPhone 18 Pro, Pro Max and iPhone Duo: Singapore prices and availability

Sep 10, 2026

Apple iPhone 18 Pro, Pro Max and iPhone Duo: Singapore prices and availability

Apple’s new Pro iPhones arrive in Singapore on 18 September, while the foldable iPhone Duo follows in October with prices starting at S$3,099.

I’d pay $3500 for an iPhone. So should you

Sep 9, 2026

I’d pay $3500 for an iPhone. So should you

This new release is the most expensive iPhone ever, but I learnt a long time ago not to bet against Apple.

The Apple Watch 12 and Ultra 4 arrive with familiar designs, new health sensors, and Siri AI baked in

Sep 9, 2026

The Apple Watch 12 and Ultra 4 arrive with familiar designs, new health sensors, and Siri AI baked in

The new Audio Intelligence and Siri AI features could be a real game-changer for the Apple Watch.

Apple unveils its foldable iPhone Duo

Sep 9, 2026

Apple unveils its foldable iPhone Duo

New Apple CEO John Ternus said the Duo has the “largest display ever on an iPhone, yet fits into your pocket”, claiming it will redefine the experience of using a foldable smartphone.

AirPods 5 brings in ANC, Siri AI, and excludes a price hike

Sep 9, 2026

AirPods 5 brings in ANC, Siri AI, and excludes a price hike

The AirPods 5 comes in two models, but ANC is available on both of them.

Samsung Electronics chairman to buy $1.42 billion worth of shares from mother

Sep 9, 2026

Samsung Electronics chairman to buy $1.42 billion worth of shares from mother

Samsung Electronics Chairman Lee Jae-yong will purchase 1.9 trillion won ($1.42 billion) worth of the company's shares from his mother, the tech giant said Wednesday. Lee plans to buy 7,188,793 shares from Hong Ra-hee, representing 0.11 percent of the company's total shares, at 269,500 won per share in an off-exchange transaction on Oct. 12, according to the company in a regulatory filing. With the purchase, Lee's total stake in the company will rise to 1.58 percent. Sources believe Hong could use the proceeds from the sale to repay loans taken out to pay inheritance taxes following the death of her husband, former Samsung Chairman Lee Kun-hee, in 2020. Meanwhile, Korea and France have signed an initial pact to strengthen cooperation on artificial intelligence (AI), semiconductors and quantum technologies, the science ministry said Wednesday. The signing of the memorandum of understanding (MOU) took place Tuesday (French time) on the sidelines of President Lee Jae Myung's state visit to France this week, according to the ministry. Under the MOU, the two countries will hold regular meetings

Naver widens France AI ties with Europe-focused factory push

Sep 9, 2026

Naver widens France AI ties with Europe-focused factory push

Naver is seeking to deepen its artificial intelligence (AI) ties with France, proposing cooperation on AI infrastructure, industry-specific systems and cultural content during President Lee Jae Myung's visit to the country. Naver CEO Choi Soo-yeon and Naver Cloud CEO Kim Yu-won met with executives from French companies and institutions in media, information technology, energy, mobility and finance during Lee’s visit. Choi outlined three areas for cooperation at Korea-France Business Roundtable in France on Tuesday: global AI infrastructure, industry-specific AI built around data sovereignty and security, and cultural content. She said Naver wanted to combine France’s stable energy infrastructure with its experience in building AI ecosystems to develop AI factories that European companies and startups could use. Naver recently announced plans with Nvidia and Brookfield to build more than 1 gigawatt of global AI factory capacity. Choi also pointed to Naver’s work developing AI systems tailored to finance and nuclear power, including BOKI with Bank of Korea and Hy-NuRI with Korea Hydro

AI agents take on bigger share of work at Korean firms: OpenAI

Sep 9, 2026

AI agents take on bigger share of work at Korean firms: OpenAI

OpenAI said artificial intelligence (AI) agents are taking on more complex work at companies in Korea as use of its workplace and coding tools surges and businesses deploy AI across research, coding and other workplace tasks rather than limiting its use to chatbots. OpenAI Korea General Manager Kim Kyoung-hoon shared that the number of users at local companies and institutions using its ChatGPT Enterprise has increased about 28-fold over the past year. “Previously, even when we assigned work to AI, there was a lot of human intervention or human review, but I think we are now entering an era in which we can trust AI more and entrust it with more difficult tasks,” Kim said during a press conference Wednesday to mark the first anniversary of the AI company’s Korean office in Seoul. He said the weekly active users of ChatGPT Work and the coding agent Codex increased about 14 times in the six months since this March. In August, Work and Codex accounted for 64 percent of output tokens generated by Korean users across ChatGPT’s products, despite having a smaller user base than the stan

Smilegate founder ordered to give wife $1.8 bil. in divorce settlement

Sep 9, 2026

Smilegate founder ordered to give wife $1.8 bil. in divorce settlement

A Seoul court granted a divorce sought by the wife of Smilegate founder Kwon Hyuk-bin, ordering him to transfer shares and cash worth an estimated 2.55 trillion won ($1.8 billion) to her in one of Korea's largest divorce settlements. The Seoul Family Court on Wednesday granted the divorce petition filed by Kwon's wife, identified by her surname Lee. However, the court rejected her claim for damages. Instead, the court set the division of marital assets at 35 percent for Lee and 65 percent for Kwon. Under the ruling, Kwon must transfer to Lee 35 percent of his shareholdings, valued at about 7.10 trillion won in total. The shares to be transferred are worth approximately 2.49 trillion won. He was also ordered to pay her 65 billion won in cash, bringing the total value of the settlement to about 2.55 trillion won. The court said the marriage had broken down beyond repair after considering the couple's prolonged conflicts, how those disputes intensified and the possibility of restoring their relationship. It found that both parties bore equal responsibility for the breakdown of the marriage.

Korea Zinc chairman's camp strengthens board control after winning audit committee seat

Sep 9, 2026

Korea Zinc chairman's camp strengthens board control after winning audit committee seat

Korea Zinc Chairman Choi Yun-beom’s camp prevailed in the latest showdown over management control of the zinc smelter against the MBK Partners-Young Poong alliance, Wednesday, securing an audit committee seat that further strengthened its majority on the board. The alliance said it accepted the outcome but stressed that the newly elected board members must remain genuinely independent. “An audit committee member is not a defensive seat for protecting Choi’s control, nor is an independent director a trophy to be claimed by either side,” it said in a statement. “Regardless of who nominated them, all directors must exercise independent judgment and perform their duties in the interests of Korea Zinc and all of its shareholders.” The election was the most closely watched item on the agenda at Wednesday’s extraordinary shareholders’ meeting. Korea Zinc needed to add a second member to its audit committee, a requirement that takes effect Thursday under the revised Commercial Act. The company currently has one such member, Suh Dae-won, who was backed by Choi’s camp last year.

Samjin Amook brings new store concept to Busan's Gwangalli

Sep 9, 2026

Samjin Amook brings new store concept to Busan's Gwangalli

Samjin Foods’ fish cake brand Samjin Amook opened a pop-up space in Gwangalli area, a popular beach area in Busan, on Saturday, testing a new store concept through local brand partnerships and limited-edition products. The pop-up, THE WAVE Gwangan, is designed as a new brand-experience venue where customers can try the brand’s products, take photographs and participate in lifestyle programs with seasonal content and activity-based events, the company said. Samjin Foods said the location is intended to make greater use of Gwangalli’s tourist traffic and local lifestyle culture, while providing a setting where customers can encounter the brand outside its conventional retail format. “THE WAVE Gwangan is a place where Samjin Amook, which began in Busan in 1953, can create new moments of enjoyment with customers by Gwangalli Beach,” the company’s CEO Park Yong-jun said. “We will continue to introduce brand collaborations and lifestyle content that distinguish the space from our existing stores and show visitors to Gwangalli a new side of Samjin Amook.” The venue features a ter

SK chairman agrees to pay $524.3 mil. in property division in divorce case

Sep 9, 2026

SK chairman agrees to pay $524.3 mil. in property division in divorce case

SK Chairman Chey Tae-won, who appealed a high court retrial ruling ordering him to pay 944 billion won ($706.6 million) in property division to his ex-wife, agreed to pay the 700 billion won ($524.3 million) portion of the ruling and filed to contest only the remaining 244 billion won in the appeal. According to sources on Wednesday, Chey’s legal representatives filed an application with the Seoul High Court on Aug. 31 to amend the scope of his appeal. In the filing, Chey’s side reduced the scope of the appeal to 244 billion won, saying it decided to accept 700 billion won “for the greater cause of bringing the prolonged legal battle to a prompt resolution.” It continued that the remaining amount has issues in legal interpretation that should still be contested. The renewed appeal is expected to focus on whether Chey’s SK Group shares should be included in the marital property subject to division and whether there were legal errors in how the division ratio and amount were calculated. The Supreme Court will look into these factors within the scope of the 244 billion won, Since

POSCO workers stage partial strike over wage dispute

Sep 9, 2026

POSCO workers stage partial strike over wage dispute

The labor union of Korean steelmaker POSCO on Wednesday began a two-day partial strike after failing to narrow differences with management over wages and other compensation. The walkout marks the first strike by POSCO workers since the company was established in 1968. The 48-hour partial walkout began at 7 a.m., involving around 120 workers at POSCO's steel plants in Pohang and Gwangyang in the southern part of the country, union spokesperson Yi Jae-hyuk said by phone. POSCO has about 17,000 employees, of whom around 10,100 are union members. The company said the limited number of workers participating in the strike is expected to have little impact on steel production, adding it will take measures to prevent disruptions to overall plant operations. "Disruptions will be inevitable next week as our workers plan a 120-hour partial strike at the two plants starting at 7 a.m. on Sept. 16," union Chairman Kim Sung-ho said. The union has demanded a 7.1 percent base pay increase, a 600 percent performance bonus, 50 company shares per worker and a 200 percent holiday bonus. In addition to wage incr

Hanwha Ocean selected preferred bidder for Thai frigate project

Sep 9, 2026

Hanwha Ocean selected preferred bidder for Thai frigate project

Korean shipbuilder Hanwha Ocean Co. said Wednesday it has been selected as the preferred bidder for a frigate project for the Royal Thai Navy. The project calls for the construction of a 4,000-ton-class frigate, along with related equipment and comprehensive maintenance and logistics support. The Royal Thai Navy set the project value at 16.73 billion baht ($509 million) in its bid notice. Hanwha Ocean said in a regulatory filing that it will hold detailed negotiations with the Royal Thai Navy to finalize the contract terms. The selection builds on Hanwha Ocean's previous track record in the Southeast Asian nation. In 2013, the company, then known as Daewoo Shipbuilding & Marine Engineering Co., won an order to build a 3,600-ton-class frigate for the Royal Thai Navy and delivered it in 2018. The latest deal could also pave the way for additional orders as Thailand seeks to modernize its naval arm.

BAT Rothmans' glo HYPER pro+ focuses on easy use

Sep 9, 2026

BAT Rothmans' glo HYPER pro+ focuses on easy use

BAT Rothmans has launched glo HYPER pro+, a heated-tobacco device designed to streamline user experience, from heating and operation to maintenance. The product was officially released on Aug. 18, marking the company’s first new product launch in about two years since the release of glo HYPER pro in 2024. BAT Rothmans said the new device reflects a growing trend in which consumer electronics makers increasingly compete not only on performance but also on how easy and intuitive their products are to use. The American Customer Satisfaction Index’s 2024 Household Appliance and Electronics Study identified ease of operation, initial setup and menu navigation as key elements of customer experience for computers and televisions. A similar focus was reflected in developing glo HYPER pro+, with the company seeking to reduce inconvenience for adult smokers throughout the device’s use cycle. One of the most noticeable changes is the heating time. The device uses QuickStart technology to reduce ramp-up time to 10 seconds, which the company said is twice as fast as the standard mode of its prev

[TEST DRIVE] Audi A3 sets example as highly responsive compact sedan

Sep 9, 2026

[TEST DRIVE] Audi A3 sets example as highly responsive compact sedan

Audi Korea’s A3 sedan sets an example as a highly responsive premium compact sedan featuring brisk acceleration and agile body movement. The Audi A3 40 TFSI Quattro Premium sedan delivers a level of refinement that comfortably lives up to the Audi badge, combining responsive performance, balanced handling and everyday practicality in a package tailored for urban driving. The test vehicle, finished in "Python Yellow," made a strong first impression. Its vibrant exterior color turned heads throughout the drive, while black side mirrors and Audi’s black emblem package added a sporty touch. The overall design strikes a balance between youthful energy and premium sophistication. The A3 feels perfectly suited for dense city environments with a length of 4,505 millimeters and width of 1,815 millimeters. The compact dimensions made navigating narrow alleyways and congested roads effortless, while parking in tight spaces posed little difficulty. Agile body movements and quick directional changes highlighted the advantages of a well-engineered compact sedan. Inside, the cabin proved roomier th

Yoon & Yang recruits former FSC official as partner lawyer

Sep 9, 2026

Yoon & Yang recruits former FSC official as partner lawyer

Yoon & Yang has appointed Ma Soon, a former Financial Services Commission (FSC) official, as a partner lawyer, bringing in a veteran financial policy expert with nearly two decades of government experience, the law firm said Tuesday. Ma worked across financial policy, licensing, regulation and enforcement during her career at the FSC, covering areas ranging from banking and insurance to financial consumer protection. She began her public sector career in 2007 as an administrative officer at the financial intelligence unit under the Ministry of Finance and Economy. At the ministry, Ma helped lead Korea's efforts to join the Financial Action Task Force, an international organization aimed at preventing money laundering. She worked on evaluation reports and on-site assessments ahead of Korea becoming a full member of the organization in 2009. After the FSC was established in 2008, Ma held positions in departments overseeing banking and insurance, where she worked on licensing and sanctions as well as regulatory frameworks. Her work has spanned several key financial legislations, including th

Kakao Mobility honing self-driving tech to bring robotaxi to everyday use

Sep 9, 2026

Kakao Mobility honing self-driving tech to bring robotaxi to everyday use

Kakao Mobility is honing its end-to-end (E2E) self-driving technology to bring self-driving taxis into everyday use in Korea, building on driving data accumulated over the past six months through an ongoing pilot program in Seoul’s bustling Gangnam area. The ride-hailing platform held a press briefing on Wednesday, showcasing its latest progress in self-driving services and outlining its autonomous driving technology and integrated platform strategy. Kakao Mobility formed its autonomous driving team in 2018 and began testing the technology in 2020. In March this year, it launched an autonomous passenger transport service in Seoul’s Gangnam area, operating from 10 p.m. to 5 a.m. The service started with two vehicles and expanded to six in August. Kakao Mobility said the fleet has logged more than 13,000 kilometers so far, completed about 2,000 rides and received an average customer rating of 4.97 out of 5. Kakao Mobility’s pilot program seeks to operate a mixture of E2E technology and a rule-based model. A rule-based model divides autonomous driving into separate modules for sensing,

Samsung Electro-Mechanics showcases next-generation AI chip substrates

Sep 9, 2026

Samsung Electro-Mechanics showcases next-generation AI chip substrates

As artificial intelligence pushes chips toward greater speed and density, Samsung Electro-Mechanics is betting that the next battleground will be beneath them, where increasingly sophisticated package substrates carry signals, power and heat. The company is showcasing five types of next-generation semiconductor package substrates at KPCA Show 2026, which runs Wednesday through Friday at Songdo Convensia in Incheon. The lineup includes 2.5D and 2.1D package substrates, glass substrates, automotive FCBGA substrates and Ultra Thin Chip Scale Package (UTCSP) substrates. The technologies are designed for applications ranging from AI accelerators and servers to data centers, mobile devices and autonomous vehicles. For AI accelerators, Samsung Electro-Mechanics is demonstrating large, multilayer substrates designed to reduce warping while supporting high-speed signals, dense circuitry and large numbers of bumps. The company is also presenting 2.1D technology that connects semiconductor chips directly without a silicon interposer, using fine circuitry and high-density connections. Glass substrates

Unionized members of Naver's metaverse affiliate stage partial strike

Sep 9, 2026

Unionized members of Naver's metaverse affiliate stage partial strike

Unionized workers at Naver Z Corp., the metaverse affiliate of Naver Corp., launched its first-ever walkout Wednesday, protesting against the company's decision to freeze wages. The partial walkout will last until 5 p.m., the portal operator's affiliatewide union said. They could escalate their collective actions if demands are not met, the union added, warning to launch a full-day strike on Sept. 23 and a five-day strike afterward. Naver Z's management and the union failed to reach an understanding in two rounds of negotiations mediated by regional labor authorities. In late July, the members secured rights to strike after 98 percent of members who cast ballots voted in favor of a collective action. The latest development marks the second industrial action from Korea's portal service industry after unionized members of Kakao Corp., a messenger app operator, staged multiple walkouts in June.

LG Innotek shows next-gen chip substrate technology at KPCA show 2026

Sep 9, 2026

LG Innotek shows next-gen chip substrate technology at KPCA show 2026

LG Innotek is showcasing its latest semiconductor substrate technology this week at KPCA show 2026, a three-day industry exhibition that opened Wednesday at Songdo Convensia in Incheon. Now in its 23rd year, the show — organized by the Korea PCB and Semiconductor Packaging Industry Association, known as KPCA — is Korea's largest trade exhibition dedicated to printed circuit boards and semiconductor packaging, drawing roughly 350 domestic and international companies. LG Innotek's exhibit centers on FC-BGA, or flip chip-ball grid array, a high-end substrate that links semiconductor chips to a device's mainboard. The company unveiled for the first time an FC-BGA built for artificial intelligence (AI) accelerators — chips such as graphics processing units and neural processing units that handle large volumes of data at high speed. The new substrate measures more than 100 millimeters per side and required denser circuitry than standard versions. LG Innotek said it aims to begin mass production of the substrate in 2027. Also on display were chip embedding technology, which places a chip

SK hynix union to revote on rejected wage deal next week

Sep 9, 2026

SK hynix union to revote on rejected wage deal next week

Unionized workers at SK hynix will revote next week on a tentative wage deal that was rejected three weeks ago, industry sources said Wednesday. The vote will be held for two days starting next Tuesday, they said. Details on what has changed from the previous tentative agreement are expected to be disclosed at a union delegates' meeting scheduled for Thursday. Last month, the union rejected a tentative agreement reached between the company and the union. Under the previous agreement, SK hynix and its union had agreed to a 6.3 percent wage increase and a new payment structure for the company's performance-based incentive. Under the proposal, 40 percent of the incentive would be paid in cash and the remaining 60 percent in company shares. Of the shares, 40 percent would be eligible for sale in the year they are received, while the remaining 20 percent would be deferred and paid in 10 percent installments over two years.

[PHOTO] Glendronach celebrates 200th anniversary

Sep 9, 2026

[PHOTO] Glendronach celebrates 200th anniversary

A bottle of Glendronach 1968 is displayed at a suite in Josun Palace Gangnam Hotel in Seoul, Wednesday. It is bottle No. 3 of a limited release of 200 bottles worldwide marking the 200th anniversary of the founding of The Glendronach distillery in the Scottish Highlands. Founded by James Allardice in 1826, the distillery launched the 56-year-old Glendronach 1968 and Boynsmill House Edition as part of its bicentenary celebrations. Brown-Forman Korea, which has been distributing The Glendronach here since 2018, imported three bottles of Glendronach 1968. Courtesy of Brown-Forman Korea

Lotte expands global hiring push into Indonesia

Sep 9, 2026

Lotte expands global hiring push into Indonesia

Lotte is taking its search for global talent to Indonesia, where it brought together about 600 job seekers Wednesday in Jakarta for a recruitment event spanning nine of its local affiliates. The 2026 Lotte Global Job Fair is designed to give Indonesian candidates a closer look at jobs across Lotte, while offering direct conversations with current employees and mock interviews. Lotte Chemical, Lotte Department Store, Lotte Mart and Lotte Global Logistics are among nine affiliates participating in the event. Indonesia has become one of Lotte’s key overseas markets since Lotte Mart began operations there in 2008, with 12 Lotte affiliates now operating across retail, chemicals, logistics, information technology and construction. Lotte recorded more than 2 trillion won ($1.5 billion) in revenue in Indonesia last year and employs about 8,000 local workers, according to the company. The group plans to add 300 employees in Indonesia by the end of this year. The Jakarta event follows Lotte’s first Global Job Fair, held in Hanoi in August 2025, as the conglomerate looks to build deeper ties with

G-Dragon to front McDonald's campaign across 13 Asian markets

Sep 9, 2026

G-Dragon to front McDonald's campaign across 13 Asian markets

G-Dragon will front McDonald’s sales campaign across 13 Asian markets, with limited-edition merchandise created in collaboration with the K-pop artist’s fashion brand PEACEMINUSONE also set to be released. McDonald’s Korea said Wednesday it will spearhead a large-scale marketing campaign featuring G-Dragon as the model beginning on Sept. 17 in Korea and expanding sequentially across the region. McDonald’s Korea said expectations are high for the synergy between G-Dragon, a global icon whose influence spans music, fashion, art and popular culture, and McDonald’s, which has a global fan base of its own. The campaign will feature special menu items highlighting gochujang, Korea’s fermented red pepper paste. All 13 markets will use a gochujang butter sauce developed by McDonald’s Korea as a key motif, while some will include the word gochujang directly on the menu. In Korea, McDonald’s will launch two new items on Sept. 17: the McCrispy Gochujang Butter and McSpicy Gochujang Butter. Each combines a different chicken patty with gochujang butter sauce, offering a balance of spi

IBK chief's leadership put to test by fraud accidents, relocation row

Sep 9, 2026

IBK chief's leadership put to test by fraud accidents, relocation row

Industrial Bank of Korea (IBK) CEO Chang Min-young is facing a test of his leadership amid a series of fraud cases and growing tensions with the bank's labor union over a potential relocation. According to documents obtained by Rep. Shin Dong-wook of the People Power Party from the Financial Supervisory Service (FSS) and IBK on Wednesday, the state-run lender failed to immediately detect a real estate loan fraud case last year, despite receiving a police search warrant detailing the alleged scheme. The Incheon Metropolitan Police Agency sent IBK a search warrant and a request for cooperation on Sept. 24, 2025. The warrant said a real estate developer and brokers had allegedly used falsified sales contracts and down-payment records to obtain 965 million won ($722,000) in loans from the lender. IBK received the warrant but did not immediately recognize the case as financial fraud. The bank only identified it as a fraud case on Oct. 2, after the FSS asked it to confirm the police investigation. Even after reporting the fraud to the regulators, IBK extended an additional 1.9 billion won loan

Alibaba sends AI ‘digital employees’ to work in rival apps from ByteDance, Tencent

Sep 9, 2026

Alibaba sends AI ‘digital employees’ to work in rival apps from ByteDance, Tencent

Alibaba Group Holding is giving users the ability to put artificial intelligence-powered “digital employees” to work within rival office platforms, opening a new competitive front against ByteDance and Tencent Holdings in enterprise AI. The latest version of the QoderWake tool, launched by Alibaba Cloud on Tuesday, allowed users to generate fully functioning workers using a single-line description of the required role, the company said. These digital workers could then be put to work within any...

Here’s what the HWZ community wants from Apple’s rumoured foldable iPhone

Sep 9, 2026

Here’s what the HWZ community wants from Apple’s rumoured foldable iPhone

An almost invisible crease would be nice, but price and durability appear to matter more to our forum members.

US firm used AI to hijack WeChat account, spurring call for cyber cooperation with China

Sep 9, 2026

US firm used AI to hijack WeChat account, spurring call for cyber cooperation with China

US cybersecurity researchers have demonstrated how artificial intelligence could help hijack WeChat accounts via unanswered voice calls, intensifying concerns about AI-driven cyber threats and prompting renewed calls for bilateral cooperation between the United States and China. US security firm Calif said on Tuesday that its AI system identified a critical flaw in Tencent Holdings’ widely used messaging and payments app in July. In just a little over a week, researchers developed WeWorm – an...

Amid China’s AI shift, JD.com bets on 3 million robots to automate logistics

Sep 9, 2026

Amid China’s AI shift, JD.com bets on 3 million robots to automate logistics

Chinese e-commerce giant JD.com is accelerating its push into robotics with a sweeping plan to automate its nationwide logistics network, while promising to retrain its vast workforce of couriers for technical roles as machines take over frontline duties. At an event in Beijing on Wednesday, the company’s logistics arm unveiled its industrial Wolf Robot series. Over the next five years, JD Logistics aimed to procure 3 million robots, 1 million unstaffed vehicles and 100,000 delivery drones to...

Hanwha Ocean clinches $505 mil. frigate project from Thai Navy

Sep 8, 2026

Hanwha Ocean clinches $505 mil. frigate project from Thai Navy

Hanwha Ocean has won a 680 billion-won ($505.17 million) contract to build one frigate for the Royal Thai Navy, Thai media reports and industry officials said Tuesday. The procurement includes value-added tax, other applicable taxes, transport and all expenses, Thai media reported. The size of the contract could expand to around 4 trillion won should the Korean shipbuilder win follow-up orders, industry officials said. In 2013, Hanwha Ocean secured a contract to deliver a 3,600-ton frigate to Thailand, successfully completing the project in 2018.

Science ministry to inject $3.5 bil. to develop frontier AI model

Sep 8, 2026

Science ministry to inject $3.5 bil. to develop frontier AI model

Science ministry plans to invest 4.7 trillion won ($3.49 billion) for a project to develop a homegrown artificial intelligence (AI) model that will be on par with global frontier models, government officials said Tuesday. The science ministry plans to form an independent fund to that end, according to the officials. The money will be included in the 9.4 trillion-won AI budget proposed by the ministry in its 2027 budget request. Exact details of the project have yet to be decided, an official from the science ministry said. The latest endeavor comes amid growing calls for increased government support in developing a homegrown frontier AI model, as the global race to develop highly advanced AI is intensifying due to massive capital investments and unprecedented reasoning upgrades. Science Minister Bae Kyung-hoon has stressed the importance of creating a sovereign frontier model to prevent Korea from becoming subordinate to other nations, especially at a time of intensifying geopolitical competition between the United States and China.

AI hype bubbles as companies fall short of full adoption

Sep 8, 2026

AI hype bubbles as companies fall short of full adoption

Against a backdrop of soaring investment in artificial intelligence (AI), companies are still largely experimenting with the technology rather than overhauling their businesses, advertising veteran Martin Sorrell said, as a lack of economic pressure slows the shift toward widespread adoption. Sorrell, executive chairman of S4 Capital and former CEO of WPP, said companies have been slower to adopt AI at scale than the market’s enthusiasm might suggest, with businesses reluctant to fundamentally change operations that are still performing well. “The sad reality is that people only change when there's an existential threat,” he said in a recent interview with The Korea Times. “People don’t change voluntarily at this scale.” Despite heavy investment in AI infrastructure, Sorrell said spending on the technology should not be mistaken for a fundamental shift in how companies operate. Most businesses remain focused on experimenting with AI rather than committing to large-scale transformation. “My view is that you will not get huge implementation transformation until there's econom

Recommended

Futurally

Get the latest news and have a look at the innovations and technologies that are shaping the future and changing the world here in Futurally.

ABOUT US
Newsletter

Copyright © 2015 - 2026 Futurally. All Rights Reserved.