SK Telecom, South Korea's largest wireless carrier by membership, on Wednesday unveiled the official name of its quantum alliance: X Quantum. In March, SK Telecom allied with six other companies -- Nokia, SOS Lab, Xgate, Wooriro, KCS and IDQ Korea -- to promote developments in the quantum ecosystem through exploring joint marketing and business opportunities. Regarding X Quantum, SK Telecom explained that it encompasses the identity of the “quantum frontier,” which plays a role

LG Electronics said Wednesday it has teamed up with ChargePoint, a leading provider of networked charging solutions for electric vehicles, to leverage their respective strengths for future innovations in EV charging. The two sides recently signed a memorandum of understanding for commercial EV charging in the US. Through the agreement, LG augments its existing client base by securing ChargePoint, which possesses an extensive portfolio of charging solutions, as a customer. ChargePoint has more th

South Korean bakery giant SPC Group has been fully absolved of a 64.7 billion won ($46.8 million) fine, as the Supreme Court upheld a ruling in the company's favor in its lawsuit against the nation's antitrust watchdog for allegedly unfairly supporting its affiliates. The Supreme Court confirmed on Monday a lawsuit filed by five SPC Group affiliates, including SPC Samlip, against the FTC, to cancel the fine. In July 2020, the FTC claimed that SPC funneled a total of 41.4 billion won in

HD Hyundai Heavy Industries has launched the Miguel Malvar, the first of two corvettes ordered by the Philippine Navy in 2021. A corvette is the smallest type of warship used for coastal patrols, surveillance and escort duties. The Miguel Malvar is scheduled for delivery to the Philippine Navy by 2025 after commissioning and final outfitting. The christening ceremony for the 3,200-ton vessel was held at HD Hyundai Heavy Industries’ Ulsan headquarters on Tuesday. The event saw attendance fr

As the Paris 2024 Olympics is set to hold its opening ceremony outside the confines of a stadium for the very first time, Samsung Electronics will install its flagship Galaxy S24 Ultra smartphones inside the city to broadcast the iconic event, the tech giant said Tuesday. Samsung, an official partner for the Worldwide Olympic and Paralympic events, announced that it will install more than 200 units of its most up-to-date smartphone at the bow and sides of each of the 85 vessels that will be carr

With stock purchase worth W450b set for completion next month, CEO hints at IPO by 2026

HiteJinro, the nation’s No. 1 soju maker, has set its goal of hitting 500 billion won ($362 million) in soju sales overseas by 2030, an ambitious three-fold growth from last year. The new growth vision, marking the company’s centennial this year, was unveiled June 12 at a press conference held in Hanoi, Vietnam. Vietnam is also the home to its first overseas soju plant set for completion by 2026. Located on an 82,000-square-meter site within an industrial complex in Thai Binh Provinc

Gov. Brian Kemp underlines partnerships with Korean companies during Seoul visit

Chang Jae-hoon, president and CEO of Hyundai Motor Group, has been named as co-chairman of the Hydrogen Council, a global coalition of CEOs committed to speeding up hydrogen-based energy transition. The Hydrogen Council announced Tuesday Chang's appointment to replace Yoshinori Kanehana, chairman of Japan’s Kawasaki Heavy Industries, whose term ends in June. Chang will serve the chairman role alongside Sanjiv Lamba, CEO of Linde, the US industrial gas producer. This appointment follow

Hyundai Rotem, in partnership with Hyundai Motor Group, has unveiled its HR-Sherpa autonomous vehicle, the fourth generation designed for versatile military applications, including surveillance, reconnaissance, combat and logistical support. It is the only vehicle of its kind to have undergone real-world testing with the Korean military, participating in joint drills with the US Army and Korea's Armed Forces Day celebration last year. (Hyundai Rotem)

Naver Webtoon, known as Webtoon Entertainment in the US, is seeking to be listed on the Nasdaq market, where it expects to have a corporate value of up to $2.67 billion. Webtoon Entertainment submitted a registration statement to the US Securities and Exchange Commission for its upcoming initial public offering on Monday. The company aims to raise as much as $315 million by issuing 15 million common shares at an expected price range of $18 to $21 per share, the statement showed. Once listed, the

Lufthansa Group CEO Carsten Spohr visited Seoul earlier this month to renew his commitment to the Korean market, where demand for premium airline services continues to grow. "We see tremendous potential in the Korean market and will strive to offer a premium experience to Korean customers with our vast selection of routes," the CEO said during a press conference held at a Seoul hotel on June 5. He was visiting Korea to attend an executive meeting in the Asia-Pacific region. He especial

North Korea is making bold claims about importing and selling its own brand of electric vehicles with an improbable maximum range of 720 kilometers, drawing skepticism and curiosity from South Korean and international observers alike. Last Friday, a video titled "Madusan Economic Federation" was posted on the YouTube channel "Paektu TV From Paektu to Halla," which shares content purportedly from North Korean media. Paektu Mountain, also known as Baekdu Mountain, is an active

Samsung Electronics and Seoul National University are collaborating to establish a joint research center dedicated to advancing artificial intelligence technology and nurturing talent in the field. Samsung Electronics held a signing ceremony Monday at SNU’s Global Engineering Center for Engineers in southern Seoul to formalize the establishment of the joint AI research center. Key figures including Cheun Kyung-whoon, president and chief technology officer at Samsung's DX or device exp

Chey Tae-won apologizes for concerns, renews will to protect management rights