South Korea's ThinkFree enters Europe's secure software market through partnership with French firm SEOUL, October 14 (AJP) - ThinkFree, a software subsidiary of South Korea’s Hancom Group, said Tuesday that it has signed a supply agreement with Ercom, a cybersecurity subsidiary of France’s Thales Group, marking its entry into Europe’s data protection markets. Ercom specializes in secure communication and data protection technologies. Its flagship platform, Cryptobox, employs end-to-end encryption and is certified by the French National Cybersecurity Agency, allowing government and defense clients to exchange and store sensitive information under strict compliance standards. Under the agreement, ThinkFree’s office software suite will be integrated into the Cryptobox system, enabling users to view and edit documents within a fully encrypted and isolated environment. The partnership is designed to provide a secure yet user-friendly document management solution for sectors where confidentiality is critical, including defense, finance and public administration. The agreement follows a memorandum of understanding signed in August last year between ThinkFree and Ercom to jointly develop office software equipped with end-to-end encryption. Kim Doo-young, chief executive of ThinkFree, said the collaboration underscores the company’s strategy to strengthen its presence in the global security software market. “Our collaboration with Ercom is a significant step in enhancing our competitiveness in the global security market,” Kim said. “It will help us build a next-generation office environment that combines security and functionality.” The partnership also reflects Hancom’s broader effort to position itself as a provider of secure digital solutions amid growing global demand for trusted communication platforms in government and defense industries, Kim said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-14 13:58:37

Fines imposed on Apple, Google remain unpaid amid regulatory lapses SEOUL, October 10 (AJP) - Global tech companies such as Apple and Google have avoided fines totaling 63 billion won (about US$47 million) for nearly two years in South Korea, as authorities have failed to enforce the penalties. According to data submitted to lawmaker Choi Soo-jin of the main opposition People Power Party from the Korea Communications Commission (KCC), the watchdog slapped fines on both companies in October 2023 for forcing in-app payment systems, overcharging domestic developers, and other breaches of relevant laws. But the KCC has been unable to collect the fines, as a slew of controversies and disputes involving former head Lee Jin-sook hindered the process, and its recent restructuring is likely to cause further delays. "Failing to take proper action in a timely manner has resulted in no changes to business practices. Imposing fines is necessary to curb excessive fees and monopolistic practices while protecting both developers and consumers," Choi said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-10 14:36:40

Kakao Games sells golf subsidiary to refocus on global gaming push SEOUL, October 02 (AJP) - Kakao Games has sold its golf subsidiary, Kakao VX, in a deal that will provide the company with more than $156 million in fresh capital as it shifts its focus toward big-budget video game development for international markets. The company said Thursday that its board approved the sale of 100 percent of Kakao VX shares to IVG, a subsidiary of Kakao Investment, in a transaction valued between $210 million and $250 million. Before transferring full ownership to IVG, Kakao Games acquired a 34.8 percent stake from financial investors. In return, the investors took part in a $108 million capital increase in Kakao Games. The maneuver ultimately left Kakao Games with roughly $156 million in proceeds, which it plans to direct toward acquiring and developing large-scale projects designed to compete in the global gaming market. Kakao VX, best known for its screen golf technology and reservation platforms, flourished during the pandemic, when demand for indoor leisure surged. But growth has slowed in recent years, prompting Kakao Games to shed the business and concentrate on its core operations. Kakao Games is now seeking to narrow its portfolio while pursuing blockbuster game development, a path many South Korean game publishers are taking. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-02 09:24:46

S. Korea launches alliance to lead in 'Physical AI' with backing from BlackRock SEOUL, September 29 (AJP) - South Korea unveiled a new initiative on Monday aimed at securing a lead in what it calls “physical artificial intelligence,” a field that integrates advanced computing with the physical world, from robotics to autonomous vehicles. The Physical AI Global Alliance, as the project is known, is supported by a multibillion-dollar investment commitment from BlackRock, the American asset management firm, and forms part of the government’s ambition to brand the country the “AI capital of Asia.” The alliance brings together three ministries — Science and ICT, Trade and Industry, and SMEs and Startups — along with universities and more than 250 companies. Among them are some of South Korea’s best-known names in technology and manufacturing, including Hyundai Motor, LG’s AI research institute, Doosan Robotics and Naver Cloud. Bae Kyung-hoon, the science and ICT minister, described physical AI as “the connection between AI and the real world,” calling it a focal point of global technology competition. He said South Korea would step up efforts to nurture the sector, including a significant increase in research and development funding in next year’s budget. The alliance is structured around 10 divisions — five focused on technology development, solutions and talent, and five devoted to application areas such as robotics and autonomous vehicles. Officials said the goal was to encourage closer public-private collaboration and to better align supply and demand across industries. Im Moon-young, vice chairman of the National AI Strategy Committee, pledged comprehensive policy support to help the country become a global hub in the sector. The initiative will also be linked to the recently announced Manufacturing AX Alliance, which aims to drive tangible industrial adoption of AI. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-29 16:25:20

Naver's e-commerce gains boost from strategic alliance SEOUL, September 29 (AJP) - Naver, a distant second in Korea's e-commerce market, has received a boost through strategic alliances it has struck with premium-grocery platform Kurly and Uber delivery service to stay in the competition versus dominant local player Coupang and fast-rising Chinese entrants. According to Mobile Index, Naver's shopping app, Naver Plus Store, saw its monthly active users (MAU) rise to 3.86 million last month, snapping a two-month decline, timed with its tie-up with Kurly, which handles fresh food platform Market Kurly. This month, Naver launched 'KurlyN Mart' in partnership with Kurly, integrating it with Naver Plus Membership. Members can receive free next-day delivery on fresh food orders over 20,000 won. Weekly active users (WAU) have surged from 2.3 million to 2.81 million in three weeks. Naver's alliances extend to mobility, with Uber's subscription service, Uber One, now part of Naver Plus Membership. Members earn 5-10% credit on Uber rides, aiming to unify shopping and transportation under one membership. To counter overnight "rocket delivery" service of Coupang and low-price strategy of AliExpress, Naver has chosen strategic partnership on premium brands. "We prefer strategic partnerships over handling basic groceries ourselves, which allows us to seek growth efficiently," said Lee Yoon-sook, head of Naver Shopping. Naver recently acquired Kurly shares worth 50-60 billion won. "Membership users are responding well, and with the Chuseok holiday approaching, we expect more users to shop, especially with available overnight delivery," a Naver official said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-29 11:08:43

Gov't services remain crippled as recovery drags on SEOUL, September 29 (AJP) - A nationwide network outage caused by a fire at a state-run data center has entered its fourth day, with recovery efforts still below 5 percent. As of Monday, key services, including Government24, remain offline, and full recovery is expected to take at least two weeks. According to the Ministry of the Interior and Safety, only 30 of nearly 650 affected systems have been restored, with a recovery rate of just 4.6 percent, following the fire at the National Computing and Information Agency in Daejeon, which hosts servers for most government agencies and facilities nationwide. Efforts are underway to restart approximately 500 systems in unaffected areas of the agency, while 96 systems directly damaged by the fire are expected to face prolonged delays in restoration. A ministry official said, "Relocating and reinstalling these servers at another data center in Daegu is more efficient, and the process is expected to take about two weeks." Meanwhile, the slow recovery is causing major disruptions, forcing citizens to visit local district offices or make phone calls to book or access various administrative services. Yoon Ho-jung, head of the Central Disaster and Safety Countermeasures Headquarters, said, "We will do our best to minimize public inconvenience by transparently sharing recovery progress and other relevant information." * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-09-29 10:25:14

Most postal services resume after fire at gov't data center SEOUL, September 29 (AJP) - The Korea Post has resumed part of its financial services after a two-day disruption caused by a fire at a state-run data center in Daejeon. However, mail delivery and some administrative systems are still being restored, and full recovery is expected to take more time. The Ministry of Science and ICT said that all financial services including check card payments, internet banking, and ATM transactions, were back to normal as of Sunday night, while mail services, including parcel delivery, are expected to resume by Monday morning. The Korea Post conducted thorough checks to ensure service safety before resuming operations. A swift recovery is crucial to prevent logistical chaos ahead of Chuseok, the country's biggest holiday, which begins later this week. Minister Bae Kyung-hoon expressed regret over the inconvenience caused by the fire at the National Computing and Information Agency, which hosts servers for most government agencies and facilities nationwide including the Korea Post's postal servers. "We will endeavor to fully restore postal services and will continue to update and monitor systems while thoroughly assessing the damage," he said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-09-29 08:59:21

Bithumb partners with Trump-backed blockchain company SEOUL, September 23 (AJP) - South Korea’s leading cryptocurrency exchange, Bithumb, has entered into a strategic partnership with World Liberty Financial, a blockchain finance company co-founded by Donald Trump Jr. and his brother Eric Trump. The agreement, announced Monday at Bithumb Financial Tower in Seoul, was formalized through a memorandum of understanding signed by Bithumb’s Chief Executive, Lee Jae-won, and Jack Forkman, a co-founder of World Liberty Financial. Company officials said the partnership would explore new business opportunities and aim to bolster investor confidence worldwide. World Liberty Financial, established earlier this year with the Trump brothers as high-profile co-founders, promotes itself as a digital finance platform built around its governance token, WLFI, which is listed on major exchanges including Bithumb and Binance. The venture has drawn attention both for its technological ambitions and for its ties to the Trump family, whose political prominence has added a degree of visibility — and scrutiny — to the project. “This collaboration with World Liberty Financial marks a significant milestone in enhancing Bithumb’s global competitiveness,” Lee said in a statement. “We will continue to strengthen our strategic network.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-09-23 10:42:05