OpenAI and Anthropic tap S. Korean market, targeting enterprise and public sector markets

SEOUL, August 07 (AJP) - Major United States artificial intelligence developers are accelerating their business expansion into South Korea, establishing local offices and recruiting skilled workers as they target the country’s enterprise and public sector markets. According to industry sources on Thursday, OpenAI, the company behind ChatGPT, has recently relocated the address of its South Korean entity to a shared office space in Seoul's southern district of Gangnam, als

August 7, 2025

[K-Tech] Samsung unveils Galaxy Watch8 with advanced health sensors for preventive care

SEOUL, August 07 (AJP) - Samsung Electronics said Thursday it has upgraded the Galaxy Watch8 series with advanced sensor technologies that enable preventive health monitoring and lifestyle habit formation through new features including bedtime guidance and antioxidant index measurement. The South Korean tech giant announced during a press briefing held in central Seoul that the latest smartwatch series is the brainchild of Samsung's smartwatch sensor development project that b

August 7, 2025

[K-Tech] Hyundai Motor, General Motors to jointly develop 5 new vehicles for North American markets

SEOUL, August 7 (AJP) - Hyundai Motor Company and General Motors (GM) announced on Thursday their plans to jointly develop and release 5 new vehicles by 2028, including a commercial electric vehicle model. Four of the planned vehicles, a mid-sized pickup and a compact pickup truck, a compact sedan, and a compact sport utility vehicle, are to target Central and South American markets. All vehicles are to have the flexibility to use internal combustion or hybrid propulsion systems. Hy

August 7, 2025

Watcha enters court receivership, vows to maintain streaming service

SEOUL, August 07 (AJP) - Watcha, a South Korean streaming platform, has entered court receivership after a creditor-initiated petition. Despite the ongoing court proceedings, the company has assured users and partners that its services will continue without disruption. According to industry sources on Thursday, the Seoul Bankruptcy Court approved the commencement of Watcha’s rehabilitation process on August 4. The decision followed a petition filed by Enlight Ventures, a hol

August 7, 2025

HD Hyundai Heavy Industries wins US Navy ship repair contract

SEOUL, August 6 (AJP) - HD Hyundai Heavy Industries announced Wednesday that it has secured a contract to perform maintenance, repair, and overhaul work on a U.S. Navy vessel. The deal marks the first such agreement since the two countries began discussing broader cooperation in shipbuilding. The contract involves the USNS Alan Shepard, a Lewis and Clark-class dry cargo ship weighing 41,000 tons. The work will be carried out at HD Hyundai Mipo Dockyard in Ulsan and is expected to

August 6, 2025

Three former Sapeon employees indicted for stealing AI core technology

SEOUL, August 06 (AJP) - South Korean prosecutors have indicted three former employees of the artificial intelligence chip company Sapeon, accusing them of leaking core technologies ahead of the company's planned merger with a domestic rival. The Suwon District Prosecutors' Office said Wednesday it charged two of the former employees with theft of industrial technology, unfair competition, and breach of trust. A third former executive was indicted without detention on the

August 6, 2025

[K-Tech] Hanwha Systems delivers first mass-produced AESA radar for KF-21 fighter jet

SEOUL, August 06 (AJP) - Hanwha Systems has completed delivery of South Korea’s first domestically mass-produced Active Electronically Scanned Array (AESA) radar for the KF-21 fighter jet, marking a significant milestone in the nation’s push for self-reliant defense technology, the company announced Wednesday. The radar handover ceremony was held Tuesday at the Hanwha Systems Integrated Research Center in Yongin, Gyeonggi Province. The event was hosted by South Korea&r

August 6, 2025

Wall Street banks lift growth forecasts for S. Korea as exports, trade outlook improve

SEOUL, August 6 (AJP) - Major international investment banks are turning more optimistic about South Korea’s economic prospects, with J.P. Morgan raising its 2025 growth forecast for the country for the second time in a month. J.P. Morgan has lifted its projection for South Korea’s real gross domestic product growth to 0.7 percent on July 24, up from 0.5 percent at the end of June. The 0.2 percentage-point upward revision follows stronger-than-expected second-quarter

August 6, 2025

[K-Tech] Korean scientists develop AI chip that mimics human brain

SEOUL, August 06 (AJP) - A research team at Dankook University in Seoul has developed a next-generation artificial intelligence semiconductor that mimics the human brain by learning through light, the university announced Wednesday — a potential breakthrough in the emerging field of neuromorphic computing. Led by Professor Choi Jun-hwan of the Department of Chemical Engineering, the team engineered a neuromorphic chip that replicates the structure and function of biological

August 6, 2025

Coupang posts record revenue, ramps up AI adoption for future growth

SEOUL, August 06 (AJP) - South Korean e-commerce company Coupang Inc. reported record quarterly revenue in the second quarter of 2025, buoyed by a broader product lineup and strong international performance, particularly in Taiwan. In a filing with the U.S. Securities and Exchange Commission, Tuesday (local time), Coupang said revenue rose 19.3 percent year-over-year to 11.98 trillion won, or approximately $8.52 billion. The company surpassed its previous record of 11.49 trillion

August 6, 2025