Samsung-Google partnership revives interest in smart glasses SEOUL, May 27 (AJP) - Google’s announcement of a smart glasses collaboration with Samsung Electronics at its annual developer conference has injected new life into the extended reality (XR) market, following a period of waning consumer and investor enthusiasm. The partnership marks a significant push by two of tech’s most influential players to regain momentum in the XR sector, a broad category that encompasses augmented reality (AR), virtual reality (VR), and other technologies blending the physical and digital worlds. According to a report released Tuesday by the research arm of KPMG Samjong Accounting, global XR patent filings have surged from just 738 in 2013 to 14,958 in 2023. The growth suggests sustained innovation in the field, even as hype around the so-called metaverse — a term popularized during the pandemic — has cooled. Microsoft holds a commanding lead in XR intellectual property, with 8,393 patents to its name, positioning it as the front-runner in AR and VR technology development. LG Electronics follows with 5,681 filings, with a focus on device portability and user experience. Intel, Meta, and Samsung round out the top five. Despite Microsoft’s patent dominance, Meta currently leads the XR hardware market, claiming 60.5 percent of global device sales as of the second quarter of last year, according to industry data. Sony and Apple trail with 10.4 percent and 9.1 percent, respectively. The competitive landscape is expected to shift in the second half of 2025, when Samsung is slated to launch its own XR headset, code-named Project Moohan. The device, developed in collaboration with Google, is poised to leverage Google’s Gemini AI model for advanced contextual understanding and will support Android-based applications through Google Play — potentially giving it an edge in the evolving XR ecosystem. Chinese tech firms are also stepping up their efforts. This year, Rokid debuted AI-powered smart glasses incorporating Alibaba’s large language model, while TCL Technology introduced ultra-lightweight smart glasses equipped with ChatGPT-based features. 2025-05-27 10:47:36

OpenAI sets up South Korean subsidiary SEOUL, May 26 (AJP) - OpenAI said on Monday that it has established a Korean subsidiary and plans to open its first office in Seoul in the coming months. The move is part of the company’s broader international strategy, dubbed “OpenAI for Countries,” which aims to deepen partnerships and infrastructure investments worldwide. Over the past year, OpenAI has opened offices in 11 cities, including London, Dublin, Brussels and Paris. Seoul will join Tokyo and Singapore as one of the company’s key hubs in Asia. “We see Korea’s comprehensive AI ecosystem as one of the most promising in the world — from silicon to software, and from students to seniors,” Jason Kwon, OpenAI’s chief strategy officer, said in a statement. He emphasized the company’s commitment to supporting the development of “truly Korean AI.” Kwon said the new office would help strengthen ties with South Korean policymakers, businesses, developers and researchers. He has met with officials from both the ruling People Power Party and the opposition Democratic Party to discuss the country's AI infrastructure agenda. Both parties have identified artificial intelligence as a priority ahead of the June 3 presidential election. South Korea has emerged as a key market for OpenAI. The company said the country ranks second globally in paid ChatGPT subscriptions, trailing only the United States. The number of weekly active users in South Korea has surged more than fourfold in the past year, placing it among the top 10 markets by user volume. South Korean developers using OpenAI’s application programming interface (API) also rank among the top 10 globally. Corporate adoption of the company’s paid services places the country in the top five markets worldwide. OpenAI has already forged partnerships with major South Korean firms, including tech giant Kakao, gaming company Krafton and telecom leader SK Telecom. It has also signed a financial cooperation agreement with the state-run Korea Development Bank. Despite OpenAI’s growing presence in the country, the company offered few details about whether it plans to build local data centers. Kwon said the firm has a “strong interest” in expanding AI infrastructure in South Korea, but declined to provide a timeline or scope for any future construction. 2025-05-26 16:05:36

Homeplus lease terminations leave small businesses in limbo SEOUL, May 26 (AJP) - Homeplus, a South Korean retail chain undergoing court-supervised restructuring, has begun notifying landlords of plans to terminate leases at 17 stores, deepening uncertainty for hundreds of small businesses operating within those locations. The potential closures span major metropolitan areas, including Seoul, Incheon, and Busan, and affect stores in Gayang, Ilsan, Siheung, Jamsil, and other key commercial districts. An estimated 200 to 300 small businesses operate across the affected stores, typically with 10 to 30 vendors per location. Roughly half of those vendors are brand franchisees; the remainder are independent operators, many of whom lack the legal protections afforded to traditional retail tenants. As vendors within large discount chains, they occupy a regulatory gray area, leaving them without access to compensation for key money — a standard practice in South Korean commercial leasing. Homeplus entered corporate rehabilitation proceedings last month, a process that has already led to noticeable declines in customer traffic and revenue. Several vendors report sales drops of 20 to 30 percent since the announcement, and many say they are unsure whether they can continue operating. Communication from Homeplus management has been sporadic, according to affected vendors. Some say they learned of the potential closures through media coverage rather than official notice, further fueling frustration and anxiety. At the center of the crisis are protracted negotiations with landlords — primarily real estate investment trusts — over significant rent reductions and lease transfer terms for sub-tenants. Homeplus is reportedly seeking rent cuts of up to 50 percent. The impasse has already delayed key milestones in the company’s rehabilitation timeline, including required reporting to the court. 2025-05-26 14:48:27

South Korea launches $29 billion battery storage initiative SEOUL, May 26 (AJP) - South Korea has launched its most ambitious energy storage initiative yet, opening the door to what officials estimate could become a $29 billion market by 2038 — offering a much-needed boost to domestic battery manufacturers grappling with a global slowdown in electric vehicle demand. The Ministry of Trade, Industry and Energy unveiled plans for a nationwide tender to install 540 megawatts of battery energy storage systems (BESS), marking the country's first major government-led deployment of its kind. The project is part of a broader effort to modernize South Korea’s power grid and support the transition to renewable energy. South Korea’s battery makers, including LG Energy Solution and SK On, have been squeezed by waning EV subsidies and shifting demand, prompting a strategic pivot toward North America, where demand for grid storage is accelerating. Under the terms of the government tender, operators will be required to construct battery storage facilities by 2026 and operate them for 15 years, managing the systems in coordination with the Korea Power Exchange. The installations must meet a combined storage capacity of 3,240 megawatt-hours — enough to power approximately 40,000 electric vehicles equipped with 80-kilowatt-hour batteries. The total investment is estimated at around 1 trillion won, or $731 million. The initiative is closely tied to South Korea’s 11th Basic Plan for Electricity Supply and Demand, which outlines an aggressive ramp-up in renewables. The plan aims to boost the share of green energy from 8.4 percent of the national energy mix in 2023 to 29.2 percent by 2038. Solar and wind generation capacity is expected to quadruple — from 30 gigawatts to 121.9 gigawatts—necessitating large-scale energy storage to stabilize supply amid fluctuating output. But South Korea’s battery industry faces mounting pressure from China, whose manufacturers, led by CATL, currently account for nearly 90 percent of global energy storage battery capacity. CATL expanded its footprint in January by establishing a South Korean subsidiary, signaling an aggressive push into the local market. CATL also dominated the global EV battery market last year with a 37.9 percent share, far outpacing LG Energy Solution’s 10.8 percent, according to industry data. In an effort to shield domestic producers and encourage local development, the South Korean government is introducing selection criteria for the BESS project that go beyond price. Bidders will be scored on a 100-point scale, with 24 points allocated for domestic industrial contribution and job creation. Authorities will also evaluate the sourcing of critical battery materials such as cathodes, anodes and electrolytes. “Energy storage systems are essential for integrating renewables, which are inherently volatile,” said Yoo Seung-hoon, a professor of future energy convergence at Seoul National University of Science and Technology. “The right policies must incentivize companies to use domestically produced secondary batteries.” 2025-05-26 11:15:11

HD Hyundai Electric to supply high-voltage transformers to Scottish firm SEOUL, May 23 (AJP) - HD Hyundai Electric, a subsidiary of South Korea’s HD Hyundai specializing in power equipment and energy solutions, announced on Friday that it has secured a contract to supply four ultra-high voltage transformers to SP Energy Networks, a major utility in Scotland. The agreement marks HD Hyundai Electric’s first foray into the Scottish market. Key representatives from both companies attended the signing ceremony, including Cho Seok, vice chairman of HD Hyundai Electric, and Eddie Mulholland, SP Energy Networks’ director of process and technology. Under the contract, HD Hyundai Electric will supply four 400-kilovolt transformers as part of a substation expansion project aimed at bolstering the stability of power supply across Scotland’s central and southern regions. Final delivery is slated for the second half of 2028. The company has seen a surge in European demand, reporting $437.75 million in orders from the continent so far in 2024. That figure reflects an average annual growth rate of approximately 44 percent since 2020, as HD Hyundai Electric seeks to strengthen its presence in what it describes as one of the world’s most demanding and technically advanced energy markets. “Europe is a conservative, high value-added market with high technical barriers, where orders are won based on quality and technological strength,” an HD Hyundai Electric official said in a statement. “We intend to broaden our footprint in Europe through enhanced research and development and deeper engagement with our customer base.” 2025-05-23 15:09:32

Chinese TV makers accused of misleading UHD advertising SEOUL, May 23 (AJP) - A South Korean industry association has lodged a formal complaint with the country’s antitrust regulator, accusing major Chinese television manufacturers of deceptive marketing over the capabilities of their ultra-high-definition (UHD) television sets. The group, UHD Korea, said on Friday that it filed a petition with the Fair Trade Commission against several companies, including Chinese electronics firms TCL and Xiaomi. The complaint alleges that the manufacturers promoted their products as UHD-capable without including the ATSC 3.0 tuners required to receive terrestrial UHD broadcasts in South Korea. The tuners are essential for accessing over-the-air UHD broadcasts, and their absence has led to mounting frustration among consumers who purchased the sets expecting full UHD functionality, according to UHD Korea. The organization said it has received a wave of complaints through its consumer call center. “Terrestrial UHD broadcasting is not merely a technical feature — it is a public good, a universal service,” said Im Jung-gon, secretary general of UHD Korea. “Marketing televisions that cannot access this service as ‘UHD TVs’ undermines consumer rights.” While the Chinese-made televisions do offer panels capable of displaying UHD resolution, UHD Korea argues that resolution alone is insufficient to meet the definition of a UHD TV in South Korea. Broadcast compatibility, it says, is a critical component of the standard. Inquiries from consumers to the manufacturers have reportedly yielded only technical explanations about display specifications, with little clarity on the limitations of broadcast reception. At present, only televisions made by domestic manufacturers Samsung Electronics and LG Electronics meet the standards necessary to receive terrestrial UHD signals in South Korea. Televisions from foreign brands, including those purchased directly from overseas, typically do not include the required tuners. UHD Korea is urging both government agencies and retail channels to implement clearer labeling and stricter guidelines to ensure consumers can determine whether a TV supports local UHD broadcasting before making a purchase. 2025-05-23 14:32:36

Bitcoin surges past $111,000 as US fiscal fears spark flight from traditional assets SEOUL, May 23 (AJP) - Bitcoin soared to an all-time high on Friday, breaching $111,000 amid growing unease over U.S. fiscal policy and a broad retreat from traditional safe-haven assets. The world’s largest cryptocurrency reached $111,466.48 on Coinbase at 9:45 a.m., eclipsing its previous record of $109,358 set in January. The rally comes as investors seek alternatives to government bonds and equities, both of which have been roiled by market turbulence. The surge in Bitcoin coincided with a sharp drop in long-term U.S. Treasury yields, which fell more than 5 percent on Thursday. The movement rattled global financial markets, prompting a widespread sell-off in both bonds and stocks. The Dow Jones Industrial Average, the S&P 500, and the tech-heavy Nasdaq all posted their steepest monthly losses in recent memory. The sell-off in Treasuries underscored investor concerns over the U.S. fiscal outlook, as President Donald Trump’s proposed tax cuts raise fears of an expanding federal deficit. “They don’t include the greater risk that the countries in debt will print money to pay their debts, thus causing holders of the bonds to suffer losses from the decreased value of the money they’re getting,” said Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund. Bitcoin’s ascent was further bolstered by regulatory developments in Washington. On Monday, the Senate advanced the Genius Act, a bill aimed at establishing a regulatory framework for stablecoins. The legislation was widely interpreted as a step toward integrating digital assets into the mainstream financial system. Texas also contributed to the bullish sentiment. Lawmakers there passed legislation allowing the state to hold Bitcoin as a strategic reserve asset—a move that was cheered by crypto advocates. Abroad, the cryptocurrency trend is gaining political traction. In South Korea, Democratic Party presidential candidate Lee Jae-myung proposed the issuance of a stablecoin backed by the South Korean won, signaling growing interest in digital finance among policymakers. 2025-05-23 10:45:53

Kakao spins off sagging Daum portal to focus on core business SEOUL, May 22 (AJP) - South Korean tech conglomerate Kakao has spun off its long-struggling Daum portal business into a wholly owned subsidiary, ending an 11-year integration between the two companies. The board of directors approved the move on Thursday, establishing the new entity under the leadership of Yang Joo-il, who currently heads Kakao’s content division and oversees Daum operations. The spin-off, according to the company, is part of a broader effort to streamline operations and focus on core business areas. Once a dominant online portal alongside rival Naver, Daum has seen its market share dwindle to around 3 percent. “We have taken the first step toward building an environment that can respond nimbly to the deepening competitive market situation,” Yang said in a statement. The new subsidiary will initially operate Daum’s core services — including email, online communities, and its search engine — under a management contract, with a full business transfer expected by the end of the year. Kakao had previously established Daum as an internal independent unit in May 2023. The latest move formalizes that arrangement and grants full managerial autonomy to the portal business, a shift Kakao says will improve operational flexibility. While some analysts speculated the separation could be a precursor to an eventual sale, Kakao executives have pushed back on that notion, emphasizing a focus on revitalization. Speaking at a shareholder meeting in March, Kakao CEO Chung Shin-a dismissed the idea of selling Daum, saying, “Right now, the focus is on building a good company.” She added, “For a company to grow, people and structure must be in place, but I judged that Daum currently has a structure that makes it difficult to grow within Kakao.” Kakao has recently made a series of investments aimed at reviving Daum’s appeal. In January, the company launched a sweeping redesign of the Daum app — its first in nine years — followed in April by the introduction of enhanced content curation chatbots and short-form video services. 2025-05-22 16:10:50

Wine tasting contest underway in Seoul SEOUL, May 22 (AJP) - Lotte Department Store announced on Thursday the return of its popular blind wine tasting event, “The V:lind." Inspired by the famed 1976 Judgment of Paris — where a panel of French judges, in a blind tasting, ranked California wines above their French counterparts — Lotte’s initiative aims to elevate consumer appreciation through taste alone, stripping away biases tied to origin or price. This year’s edition has expanded in scope, featuring nearly 200 wine entries and introducing two formats: the customer-centric “Mega Tasting” and the professionally judged “V:lind Contest.” The Mega Tasting event, which began Friday and runs through May 29, is being held across eight of Lotte’s major department stores nationwide, including locations in Seoul, Busan, and Incheon. Shoppers are invited to taste eight wines — four reds and four whites — all priced under 100,000 won (approximately $73). Presented without labels or brand identifiers, the wines are evaluated by participants who vote for their favorites. The professional segment of the competition will be held on June 5 at Mood Seoul in Seocho-gu. There, a panel of experts will assess 20 imported wines that have not yet been introduced to the Korean market. Among the judges are Kim Kyung-moon, the only Master Sommelier of South Korean nationality — one of just 270 globally — and Kim Jin-beom, head sommelier at the acclaimed Seoul restaurant Mosu. “We aim to continue offering customers fresh experiences and carefully curated selections through trustworthy wine programs,” said Choi Hyung-mo, head of Lotte Department Store’s food division. 2025-05-22 14:51:34

Job creation in South Korea falls to record low SEOUL, May 22 (AJP) - South Korea’s job market has continued its downward spiral, with the number of new positions falling to the lowest level, highlighting the deepening strain on the country's economy and labor force. According to data released Thursday by the Korean Statistical Information Service, only 2.44 million new jobs were created in the fourth quarter of 2024 — down from 2.55 million in the same period a year earlier. The decline marks the 11th consecutive quarter of contraction and the weakest quarterly figure since the agency began compiling such data in 2018. New jobs, defined as positions generated through corporate expansion or the launch of new businesses, have slowed dramatically as sluggish economic growth and persistent uncertainty have discouraged firms from hiring and investing in new capacity. The construction and manufacturing sectors, historically considered pillars of stable employment, suffered the steepest losses. The construction industry shed approximately 58,000 new jobs in the fourth quarter, bringing the sector’s total to 453,000 — its seventh straight quarter of decline. Manufacturing saw a similar contraction, losing around 38,000 new positions and extending its own losing streak to 11 quarters. As of early 2025, manufacturing accounts for just 15.5 percent of total employment, a record low. Economists attribute the manufacturing slump to a lopsided recovery centered on semiconductor production, a capital-intensive industry that generates relatively few jobs compared to its output. “Semiconductor exports have buoyed headline figures, but they don’t translate into broader employment gains,” said Lee Ji-hoon, a labor economist at Korea University. “The ripple effect on the job market is minimal.” The downturn has also rippled into other industries. Accommodation and food services lost 13,000 new jobs, falling to 231,000 positions, while wholesale and retail trade contracted by 16,000. Economists cite stagnant consumer confidence and restrained household spending as key headwinds. 2025-05-22 14:00:13