South Korean telecommunications giant KT Corp. on Thursday conducted the first organizational restructuring and executive shakeup since the company’s new chief, Kim Young-shub, took office in August. The telecom carrier has also set a new vision of a “digital innovation partner that creates a better future for customers” with the aim of becoming a global leader specializing in information and communication technology services. “We expect this year’s reshuffle will b

Technology Nov. 30, 2023

Samsung Group's key technology affiliates -- Samsung Electronics, Samsung Display and Samsung SDS, Samsung SDI and Samsung Electro-Mechanics -- on Wednesday promoted a swath of young executives in their 30s and 40s as part of their ongoing efforts to build a foundation for future growth. Samsung Electronics promoted a total of 143 executives in a year-end reshuffle, a decrease from last year’s 183. The total number of executives promoted this year was the lowest since May 2017 marked

Technology Nov. 29, 2023

With the rise of generative artificial intelligence like ChatGPT, regulators across the world have started to establish rules and regulations on the technology. South Korea is also getting ready to come up with normative systems on the burgeoning AI that it hopes will serve as a benchmark for other countries, the nation's data protection watchdog chief said. Although the European Union and the United States are so far leading the world in the push to regulate AI, Korea is receiving global a

Technology Nov. 28, 2023

LG Electronics CEO Cho Joo-wan will lay out the blueprints for the home appliance giant’s vision and innovation in artificial intelligence-based future growth a day ahead of the opening of the Consumer Electronics Show in January in Las Vegas, according to the company on Tuesday. Under the theme of “Reinvent your future,” the CEO will unveil the company’s key focuses for next year at the company’s global press conference, dubbed the “LG World Premiere,”

Technology Nov. 28, 2023

LG AI Research, LG Group's artificial intelligence think tank, said Sunday it has signed a letter of intent with UNESCO in Seoul to jointly foster knowledge and awareness of the ethics of AI. LG highlighted the agreement as the first of its kind, where UNESCO has partnered with a Korean firm to promote the ethical development and use of AI technology. Under the letter of intent, the two sides agreed to advance AI technology that would contribute to both humanity and sustainable development,

Industry Nov. 26, 2023

Apple’s latest iPhone 15 series is enjoying more popularity than its predecessor in Korea, bucking the lukewarm sales trend in neighboring countries such as China and Japan. Sales of the latest iPhone lineup -- the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max -- jumped 41.9 percent in the first month of its official release here on Oct. 13, compared to that of the iPhone 14 series from a year prior, according to market tracker Atlas Research and Consulting. Sales of the

Technology Nov. 22, 2023

Samsung Electronics may hold its unpacking event for its flagship Galaxy S24 smartphone lineup in January, advancing the date by two weeks compared to last year’s event, in archrival Apple’s backyard for the first time, according to industry sources on Wednesday. Samsung is planning to unveil the Galaxy S24 series, consisting of three models -- the standard S24, the S24 Plus and the S24 Ultra -- on Jan. 17. The company is considering San Jose, California, as an option for the annual

Technology Nov. 22, 2023

Kakao Mobility, the operator of South Korea’s leading taxi-hailing service Kakao T, seems to be seeking new opportunities in Europe as it faces growing scrutiny here. According to industry sources on Monday, the company is likely to submit its final bid to acquire a stake of around 80 percent in German mobility service provider FreeNow as early as this week. The exact deal size was not revealed, but sources predict it to amount to some hundreds of millions of dollars. If the company wins

Technology Nov. 20, 2023

Sapeon, a fabless startup backed by South Korean telecom-to-chip conglomerate SK Group, has come up with a more powerful and efficient artificial intelligence chip to compete head-on with US chip giant Nvidia, which enjoys a near monopoly in the soaring market for data center graphics processors. “We‘re focused on being very good at (developing) AI inference (neural processing units) and we’ll take a part of the expanding (AI chip market),” Sapeon Chief Technology Officer

Technology Nov. 20, 2023

SK Telecom CEO Ryu Young-sang, who also leads SK Group's ICT committee, said Thursday he is confident about seizing new business opportunities as the rise of generative artificial intelligence reshapes industries. “Even before the black swan event of the emergence of (Chat)GPT last year, SK Group has been accumulating its capabilities in AI and new technologies as we (feel sure) about the growth of (such) innovation,” Ryu said in his opening speech at this year’s SK Tech S

Technology Nov. 16, 2023

Google Cloud has enabled Korean customers to use the tech giant’s generative artificial intelligence services to store their data domestically instead of overseas to alleviate customers’ worries over data leakage, while ramping up its efforts to expand its presence in the enterprise generative AI market here. On Tuesday, Google’s cloud affiliate announced its new data residency guarantees for Korean clients through Vertex AI by including Korea as one of its first 10 global data

Technology Nov. 15, 2023

Kakao CEO Hong Eun-taek apologized Thursday over a recent controversy surrounding alleged stock manipulation in connection with the tech giant’s acquisition of K-pop agency SM Entertainment. “We apologize for causing concern to Kakao shareholders with the negative news that occurred during the process of taking over SM Entertainment's management rights," the CEO said at the company’s third-quarter earnings conference. “We are faithfully (talking) to the investig

Technology Nov. 9, 2023

SEJONG -- South Korean internet giant Naver opened its second data center in the city of Sejong on Monday, speeding up its big push to secure supremacy in the burgeoning artificial intelligence and cloud markets. Naver invited a group of reporters to its new data center, which it calls Gak Sejong, for the opening ceremony. The first of its kind, Gak Chuncheon, was set up in Gangwon Province in 2013. Located on a 294,000-square-meter site, Gak Sejong is one of the five biggest data centers in A

Technology Nov. 8, 2023

LX International, the trading arm of South Korea's LX Group, said Tuesday it will buy a major stake in a nickel mine in Indonesia as it pushes to expand its resources business. The company's board of directors has approved an agenda to invest 133 billion won ($101.6 million) to acquire a 60 percent stake in the Adhi Kartiko Pratama, or AKP, mine and secure its management rights. The acquisition will be LX's first nickel mine investment in the Southeast Asian country. Located near

Industry Nov. 7, 2023

Samsung Electronics co-CEO Kyung Kye-hyun, who oversees the tech giant's chips business, called on experts to conduct more in-depth research on the safety, trustworthiness and sustainability of artificial intelligence in line with rapid advancements in technology. “The spotlight has recently shifted toward generative AI technology, as it provides us the potential to unlock new solutions and address long-standing challenges. But the need for in-depth research on the safety, trustworthi

Technology Nov. 7, 2023