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Trump's trade war with tariffs poses risks to Korean firms
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Korea's ministries, businesses block DeepSeek over security concerns
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KakaoTalk to get big AI boost as Kakao, OpenAI join forces
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Naver chief hails DeepSeek shaking up competitive AI landscape
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OpenAI CEO's Seoul visit fuels speculation
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Korean chipmakers assess impact of DeepSeek
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Naver chief hails DeepSeek shaking up competitive AI landscape
Naver CEO Choi Soo-yeon has lauded the emergence of Chinese artificial intelligence service DeepSeek, calling it an “innovative milestone” that proves how latecomers can challenge industry leaders with relatively small-scale investments. During Friday's earnings call for the October-December 2024 period, the Korean tech giant chief reaffirmed the company’s commitment to narrowing the technology gap with leading AI firms amid rising competitive intensity with the advent of DeepSeek. “We are dedic
Feb. 7, 2025
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Korea's ministries, businesses block DeepSeek over security concerns
Weekly users of DeepSeek surpass 1.2 million in Korea, compared to 4.93 million for ChatGPT Government agencies and major companies in South Korea are rushing to block access to Chinese artificial intelligence service DeepSeek, amid concerns about user data collection. The move comes after the Ministry of the Interior and Safety issued a warning on Tuesday, advising central government agencies and 17 provincial governments to be cautious when using AI-based generative services like DeepSeek. Fol
Feb. 6, 2025
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LG CNS makes W6tr Kospi debut
Korean IT solutions provider LG CNS made its stock market debut on the nation’s main bourse Kospi on Wednesday, reaffirming its commitment to becoming a global AI transformation, or AX, company. During the listing ceremony at the Korea Exchange, CEO Hyun Shin-gyoon said, "Leveraging this IPO as a new momentum, we will pioneer innovative technologies and services that enhance customer value and solidify our position as a leader in AI transformation." “LG CNS has grown alongside its customers not
Feb. 5, 2025
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KakaoTalk to get big AI boost as Kakao, OpenAI join forces
OpenAI CEO Sam Altman visits Seoul to discuss new partnerships with Korean tech giants Korean tech giant Kakao and ChatGPT creator OpenAI announced a strategic partnership on Tuesday in Seoul, unveiling plans to integrate OpenAI’s ever-evolving artificial intelligence technology into KakaoTalk and other key services. “Kakao is committed to securing the best AI technology and turning all imaginable AI-era services into reality. We’re delighted to partner with OpenAI in this strategic collaboratio
Feb. 4, 2025
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OpenAI CEO's Seoul visit fuels speculation
ChatGPT creator OpenAI's CEO, Sam Altman, is set to visit Korea on Tuesday, marking his first visit in nearly a year. Industry observers are closely watching to see if any announcements, such as the establishment of a Korean branch or investments in artificial intelligence data centers, will emerge from this trip. According to industry sources on Monday, OpenAI plans to host a developer event, Builder Lab, in Seoul. The event will bring together around 100 local developers who utilize ChatGPT an
Feb. 3, 2025
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Trump's trade war with tariffs poses risks to Korean firms
South Korea’s economy has come under direct impact as US President Donald Trump signed an executive order on Saturday imposing tariffs on Mexico, Canada and China, raising concerns about a prolonged global trade war. Industry experts warned on Sunday that Korea, heavily dependent on exports, could face significant setbacks if Trump’s tariff war escalates. Major companies, including Samsung Electronics, have manufacturing plants in Mexico and additional trade restrictions could disrupt their supp
Feb. 2, 2025
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Korean chipmakers assess impact of DeepSeek
South Korea’s top two chipmakers -- Samsung Electronics and SK hynix -- are closely monitoring the impact of DeepSeek, the Chinese artificial intelligence startup that has shaken global markets with its breakthrough technology, according to industry sources on Sunday. The nation’s stock market, which reopened a week after the Lunar New Year holiday on Friday, saw turbulence due to the shockwave triggered by DeepSeek’s AI model. SK hynix’s stock price plummeted 9.86 percent by the closing bell. S
Feb. 2, 2025
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As Apple Pay expands in Korea, concerns raised over local card issuer fees
Apple Pay, currently only available through Hyundai Card here, is set to expand its reach in the Korean market by forging partnerships with major financial groups to offer the service as early as next month. With the move, the US tech giant is expected to cement its presence, some are concerned high fees it charges to local card issuers amount to unfair treatment towards the Korean market. According to industry sources on Sunday, Apple is in the process of finalizing partnerships with Shinhan Ca
Jan. 27, 2025
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LG Electronics to become largest shareholder in Bear Robotics
LG Electronics said Friday it would become the largest shareholder in Bear Robotics by exercising a call option to acquire an additional 30 percent stake in the US-based robotics firm. The decision, made during a board meeting Thursday, will raise LG’s total ownership in Bear Robotics to 51 percent, enabling it to take over management control and incorporate the US company as a subsidiary, the home appliance maker said. In March, LG invested $60 million to acquire a 21 percent stake in the US fi
Jan. 24, 2025
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LG Electronics logs record sales in 2024
LG Electronics said Thursday it logged its highest-ever annual revenue in 2024, driven by sustained growth in its flagship home appliances and automotive electronics businesses. Sales reached a record 87.73 trillion won ($61 billion) last year, up 6.6 percent from a year earlier and surpassing the 82.52 trillion won reported in 2022. Operating profits for the year, however, declined by 6.4 percent on-year to 3.42 trillion won. Net income also saw a sharp decrease of 48.6 percent on-year to 591.4
Jan. 23, 2025