Chinese AI powers half of Korea's new models: study

Nearly half of the artificial intelligence models released by South Korean developers this year were built on Chinese technology, led overwhelmingly by Alibaba's Qwen, according to a new study that raises questions about the country's efforts to develop its own AI models. The report, released Friday by private think tank Rockbridge Network Korea and authored by Hanyang University business professor Choi Seong-jin, examined how Chinese AI is being used in Korea through developer activity, app usa

Oct. 21, 2026

Samsung Bioepis' first ADC candidate wins FDA Fast Track

Samsung Bioepis said Wednesday that its first antibody-drug conjugate, or ADC, candidate has been designated a Fast Track drug by the US Food and Drug Administration. According to Samsung Bioepis, SBE303 is designed to target Nectin-4, a protein overexpressed on tumor cells. The candidate is being developed as a treatment for patients with locally advanced or metastatic urothelial cancer who have previously received a Nectin-4-targeted therapy. The FDA's Fast Track designation is intended to exp

Oct. 21, 2026

What’s brewing behind Mega Coffee’s deal rush?

In Korea’s food and beverage deal market these days, the most persistent bidder sells cheap coffee. Mega MGC Coffee, the country’s largest coffee chain with 4,500 bright-yellow storefronts, no longer seems content merely selling Americanos. It now harbors an appetite for a larger share of the retail landscape. "With a nationwide franchise logistics network and strong cash generation, Mega Coffee has emerged as a key strategic investor in F&B deals," one industry official said. The hunt began in

Oct. 21, 2026

Cosmax Group expands microbiome research with Mass General Brigham

Cosmax Group has expanded its microbiome research partnership with Mass General Brigham, a network of Harvard Medical School-affiliated teaching hospitals, as the Korean cosmetics company pushes beyond beauty products into health supplements and drug development. The two sides signed an agreement Oct. 13 at Massachusetts General Hospital in Boston to launch the second phase of their joint VIVA Project. Cosmax Group Chairman Lee Kyung-soo and MGB Chief Development Officer Mike McNally attended. R

Oct. 21, 2026

TheBorn Korea's Texas BBQ outlet sees 70% sales growth since opening

South Korean restaurant operator TheBorn Korea said Wednesday that average monthly sales at its Saemaeul Sikdang outlet in Carrollton, Texas, have risen about 70 percent since 2023. Known for its briquette-grilled bulgogi and seven-minute kimchi stew, Saemaeul Sikdang operates in the US, Thailand and Mongolia. TheBorn Korea attributed its growth to locally tailored strategies and rising global interest in Korean food. In the US, the company pointed to growing demand for Korean-style tabletop gri

Oct. 21, 2026

FTC chief acknowledges role of conglomerates in economic growth

The chief of South Korea's antitrust watchdog on Wednesday acknowledged conglomerates' contributions to the country's economic growth during a parliamentary audit, amid criticism of his earlier claim that chaebol have exploited the country. "I am not denying the role of conglomerates in South Korea's economic growth and development," Ju Biung-ghi, head of the Fair Trade Commission, said during a parliamentary audit at the National Assembly. Ju's remarks came in response to criticism from opposit

Oct. 21, 2026

Seoul shares open sharply higher ahead of Meta earnings amid AI woes

Seoul shares opened sharply higher Wednesday ahead of Meta Platforms' earnings results, as investors weighed concerns over profitability from artificial intelligence infrastructure. After opening 2.05 percent higher, the benchmark Korea Composite Stock Price Index extended gains, trading up 158.88 points, or 2.86 percent, to 5,711.62 as of 9:15 a.m. The main index rebounded from a nearly 4 percent dip the previous session. Overnight, US stocks closed mixed, with the Dow Jones Industrial Average

Oct. 21, 2026

Producer prices up for 2nd month in Sept. on higher prices of agricultural goods

Producer prices rose for the second consecutive month in September driven by higher prices of agricultural goods during the Chuseok season, central bank data showed Wednesday. The producer price index, a key gauge of future consumer inflation, increased 0.2 percent last month from a month earlier, following a 0.1 percent on-month gain in August, according to the preliminary data from the Bank of Korea. In July, the index fell for the first time since August 2025. From a year earlier, producer pr

Oct. 21, 2026

Korea's bank hacking cases may move to serious crimes agency

South Korean police said Tuesday they plan to refer a series of hacking cases involving major banks and other financial institutions to the country's newly established Serious Crimes Investigation Agency after identifying suspected violations of financial security laws. The National Office of Investigation said it had identified possible violations of the Electronic Financial Transactions Act in addition to the Information and Communications Network Act, under which police had already been inves

Oct. 20, 2026

Lee Moon Won Bio secures patent for hair-loss care platform

South Korean biotech firm Lee Moon Won Bio has secured a patent for a patient health monitoring system, bringing its portfolio of registered patents to 12 as it seeks to integrate hair-loss diagnosis, treatment and long-term care into a single digital platform. The patent, titled “Wellness Diagnosis Method, System and Device," was filed in April and registered on Oct. 2, the company said Monday. It forms the basis of the company's Body Recording System, which tracks patient health data to suppor

Oct. 20, 2026

Seoul stocks slide nearly 4% on AI jitters, unrest in France

South Korean shares plunged by nearly 4 percent Tuesday, as investors attempted to cash in recent gains in major chip shares amid persistent concerns over the artificial intelligence value chain. The Korean won was trading higher against the US dollar. The benchmark Korea Composite Stock Price Index fell 215.27 points, or 3.73 percent, to 5,552.74 after declining as low as 5,493.24. The index opened 0.6 percent lower and extended its losses amid deepening woes over AI-related sectors as well as

Oct. 20, 2026

Hana leads race for Korea's growing foreign banking market

Hana Bank has emerged as the clear leader in deposit accounts held by foreign nationals in South Korea, according to exclusive regulatory data offering a glimpse into how lenders are positioning themselves in the country's expanding foreign banking market. Hana held 4.2 million deposit accounts belonging to foreign individuals as of Sept. 21, far ahead of Woori Bank's 2.56 million, according to Financial Supervisory Service data obtained by People Power Party Rep. Park Sung-hoon and shared exclu

Oct. 20, 2026

Samsung family heirs join forces in JoongAng Ilbo takeover bid

A consortium led by Daou Kiwoom Group, alongside CJ Group and Shinsegae, has emerged as the preferred bidder for debt-laden newspaper publisher JoongAng Ilbo, bringing two branches of the Samsung founding family into a bid to revive the struggling media company. Daou Kiwoom Group, whose flagship financial affiliate is Kiwoom Securities, is expected to take a 50 percent stake in the consortium, with entertainment conglomerate CJ Group and retail giant Shinsegae splitting the remainder, according

Oct. 20, 2026

Hyundai Motor Group unites defense arms in global export push

Hyundai Motor Group is consolidating its ground weapons businesses under Hyundai Rotem, bringing tank and artillery production together in a 358.4 billion won ($269.9 million) deal aimed at strengthening its competitiveness in the global defense market. Hyundai Rotem said Monday it had acquired Hyundai WIA’s defense division, bringing production of the K2 Black Panther tank’s main gun in-house. Until now, Hyundai Rotem has manufactured the tank while Hyundai WIA supplied its 120-millimeter main

Oct. 20, 2026

Lim Ju-hyun's bold bet pays off as Hanmi readies Eppe launch

Hanmi Pharmaceutical’s launch of Korea’s first homegrown GLP-1 obesity drug, Eppe, marks a major milestone for Vice Chair Lim Ju-hyun, who turned a once-abandoned diabetes drug candidate into the centerpiece of the company’s obesity treatment ambitions. The journey began in 2008, when Hanmi developed efpeglenatide, Eppe’s active ingredient, as a diabetes treatment under its late founder Lim Sung-ki. In 2015, Hanmi licensed efpeglenatide and two other diabetes candidates to French drugmaker Sanof

Oct. 20, 2026