HD Hyundai Heavy wins record $674m US data center power deal

HD Hyundai Heavy Industries said Monday it has secured a 956 billion won ($675 million) deal to supply power generation systems for a US data center project, marking its largest-ever power engine order. The contract with US energy infrastructure company Corban Energy Group covers 1,000 megawatts of generating capacity built around HD Hyundai Heavy’s 9.6-MW HiMSEN engines, according to the company. The engines will be used to power data centers for a US big tech company. The latest win comes less

2026-08-10 14:17:13:00

Three bidders submit final offers for KDB Life

Korea Investment Holdings, Hanwha Life Insurance and Heungkuk Life Insurance submitted final bids for KDB Life Insurance on Friday, giving fresh momentum to Korea Development Bank's seventh attempt to sell the insurer. The three companies submitted their final offers by the 3 p.m. deadline, according to financial industry sources. Samsung Life Insurance, previously considered one of the strongest potential buyers, did not participate in the final bidding. Kyobo Life Insurance, which had joined t

2026-08-07 20:27:18:00

Posco Holdings to divest W2.5tr worth of shares in 2 affiliates

Posco Holdings, the country's leading steelmaker, said Friday that it plans to sell a combined 2.5 trillion won ($1.76 billion) worth of shares in two of its affiliates. In a regulatory filing, Posco Holdings said it plans to divest 2 trillion won worth of shares in Posco International and 500 billion won in POSCO DX. The share sell-offs will be made on Sept. 7, according to the filing. The disposal of shares in the affiliates is aimed at securing investment funds and boosting corporate value, P

2026-08-07 19:44:28:00

SK hynix to invest W54tr in new Yongin, Cheongju fabs

SK hynix said Friday it will invest about 54 trillion won ($38.1 billion) to build new semiconductor fabs in Yongin and Cheongju, accelerating its capacity expansion as artificial intelligence drives demand for memory chips. The chipmaker’s board approved 35.2 trillion won for Y2, its second fab at the Yongin Semiconductor Cluster in Gyeonggi Province, and 19.1 trillion won for M17, a new NAND flash production facility in Cheongju, North Chungcheong Province. The investments are part of a long-t

2026-08-07 17:08:08:00

Kakao wage deal ends labor dispute after first-ever strikes

Kakao said Friday it has reached a final wage agreement with its labor union, bringing an end to a dispute that led to the company’s first strikes since its founding. The agreement, approved in a vote by union members, calls for a 6.3 percent increase in the company’s overall salary budget and a special payment of 3 million won ($2,115) to employees. “We will faithfully implement the agreement reached through the negotiations,” a Kakao official said. “We will continue working together to create

2026-08-07 16:37:14:00

LG’s Exaone beats Google, Alibaba in AI benchmarks

LG AI Research said Friday its Exaone models for tabular data analysis and time-series forecasting had topped global AI benchmarks, outperforming competing models from tech giants including Google and Alibaba. The benchmarks measure how well AI models make predictions using data from industries such as chemicals, healthcare, finance and manufacturing. Exaone Tabular, LG’s foundation model for structured data, posted an ELO rating of 1,760, ahead of Google’s TabFM at 1,749. Trained on large volum

2026-08-07 12:18:48:00

Naver-Nvidia AI factory to generate revenue from 2027

Naver said Friday during its second-quarter earnings call that its artificial intelligence factory business with Nvidia was expected to begin generating revenue in the first half of 2027. Chief Executive Officer Choi Soo-yeon said the factory, which will provide large-scale computing capacity for AI, would launch with 55 megawatts of capacity in 2027. This is set to expand to 100 MW by the end of that year and 200 MW in 2028. The company ultimately aims to build out the infrastructure to the gig

2026-08-07 11:51:37:00

LG Uplus posts record profit on AI data center growth

LG Uplus posted a record quarterly operating profit in the second quarter as rapid growth in its artificial intelligence data center business and cost-cutting efforts offset a decline in overall revenue, the company said Thursday. Operating profit rose 13.1 percent on-year to 344.5 billion won ($243.4 million), while revenue fell 3.9 percent to 3.69 trillion won. Service revenue, which excludes handset sales, increased 2 percent to 3.08 trillion won, and net profit edged up 0.3 percent to 217.7

2026-08-06 14:25:21:00

Kakao chooses AI services over costly infrastructure

Kakao has ruled out entering the capital-intensive AI infrastructure business, betting instead on consumer services built into KakaoTalk, its dominant mobile messenger. During its second-quarter earnings call Thursday, the Korean platform operator said it had considered AI data centers and GPU cloud services but concluded they offered little competitive advantage. “We determined that the infrastructure layer is not where Kakao can become most competitive in the AI era,” CEO Chung Shin-a said. “K

2026-08-06 11:24:39:00

Samsung stacks HBM atop AI chips in 3D memory push

Samsung Electronics is placing high-bandwidth memory directly on top of AI processors, unveiling a 3D architecture that requires less power to deliver faster data transfers. The tech giant is showcasing concept models of the architecture, called zHBM, and a NAND flash solution dubbed zNAND-O at Future of Memory and Storage 2026, held from Tuesday to Thursday at the Santa Clara Convention Center in California. Samsung described the two concept models as industry firsts. Conventional HBM packages

2026-08-05 15:04:49:00