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Soaring artificial intelligence revenues have failed to shield Intel, Amazon and Google’s parent company Alphabet from a brutal Wall Street sell-off, as their latest quarterly results deepened investor jitters over mounting capital spending and delayed returns. Intel plunged about 23 per cent in extended trading on Thursday, while Amazon shed 7.3 per cent. Alphabet tumbled 12.6 per cent during the regular session in its worst day on record, dragging the Nasdaq Composite down 1.4 per cent and...

Joel Neoh has spent two decades selling things to adults: group-buying deals at Groupon, cashback at Fave, DNA kits and supplements at Prenetics. His new job asks him to build a business on a platform where a large slice of the audience still needs a parent’s permission to buy anything. Roblox has appointed the Malaysian […] The post Roblox hands Fave founder Joel Neoh the keys to SEA. His first job isn’t growth, it’s trust appeared first on e27.

For years, Southeast Asia’s crypto regulators have asked exchanges the same set of questions. Where is your licence? Where is your local entity? Where are your cold wallets, and whose name is on them? On October 29, North Korea answered with a question of its own: whose laptop is this? Binance, the world’s largest crypto […] The post North Korea’s hiring scam just cost Binance US$6.3B. SEA’s engineers are on the shortlist appeared first on e27.

German Chancellor Friedrich Merz called for a global political alliance to defend rules-based trade, urging Germany and Indo-Pacific economies to strengthen economic partnerships and diversify supply chains as geopolitical tensions and intensifying U.S.-China competition reshape the global economy. Speaking at the opening of the 19th Asia-Pacific Conference of German Business (APK) in Seoul on Friday, Merz proposed establishing a "global political alliance for rules-based trade" to defend and strengthen the international trading system and coordinate joint action when it comes under threat. “When supply chains become political pawns, when access to key technologies is imperiled or when efforts to secure raw materials become a projection of power rather than of fair partnership, this jeopardizes growth, prosperity and, ultimately, the security,” he said. “Countries that decouple lose security, innovative strength, prosperity and scope for action. We do not wish to withdraw but rather to expand our freedom of action.” Turning to bilateral ties, the chancellor said Germany and Korea

Goldman Sachs is seeking to acquire a controlling stake in Tmap Mobility, operator of Korea’s leading navigation app, from SK Square by the end of this year, seeing an investment opportunity in its lower valuation and vast trove of mobility data as autonomous driving advances, industry sources said Friday. For SK Square, SK Group’s investment arm and the largest shareholder of SK hynix, the sale is part of a broader strategy to focus on artificial intelligence (AI) and semiconductors. The global investment bank is looking to invest between 600 billion won ($450 million) and 800 billion won to secure a 60 to 70 percent stake in Tmap Mobility. It is in talks to buy shares from SK Square, the largest shareholder with a 63.23 percent stake, as well as other financial investors, including Affirma Capital and EastBridge Partners, which each hold 9.83 percent, and KB Kookmin Bank, which owns 6.39 percent. Tmap Mobility traces its roots to a navigation service launched by SK Telecom in 2002. The telecom operator spun off its mobility business into a separate company in December 2020, and Tm

Hanwha Systems has won a contract to develop synthetic aperture radar (SAR) satellites for Korea's microsatellite constellation aimed at enhancing national security and disaster response capabilities, data showed Friday. The defense solutions arm of Hanwha Group was selected for the SAR satellite development project commissioned by the state-run Agency for Defense Development (ADD), according to the Public Procurement Service. The microsatellite development project is a joint initiative involving the defense ministry, the Korea AeroSpace Administration (KASA) and the Korea Coast Guard to strengthen surveillance of security threats and natural disasters on the Korean Peninsula and in surrounding waters. SAR satellites can capture images of land and sea regardless of weather conditions or time of day. Operating a constellation of small satellites allows for more frequent monitoring of specific areas and faster intelligence gathering. Hanwha Systems has previously supplied SAR sensors and data links for Korea's military reconnaissance satellites.

LIG Defense & Aerospace's (LIG D&A) overseas expansion plans could be in jeopardy, as an ongoing bribery scandal threatens to disrupt its defense development and production pipeline through a potential two-year government bidding ban. The Seoul Administrative Court will hold a hearing on Thursday to review the company's request to suspend the enforcement of a two-year restriction imposed by the Defense Acquisition Program Administration (DAPA). Last week, the defense authority imposed the penalty on allegations that the firm’s executives offered bribes worth hundreds of millions of won to a DAPA employee during the bidding process for a weapons development project. LIG D&A denied the allegations and has taken legal steps for a temporary suspension of the penalty, which was originally scheduled to take effect on Thursday. The suspension will remain in place until Nov. 20. The potential disruption carries significant implications for the company's business structure. Its government and public institution clients accounted for 64.5 percent, or 2.78 trillion won ($2.07 billion), of LIG D&A

Volkswagen’s Atlas is positioning itself as a family-oriented large SUV, combining child seat-friendly design, spacious seating and advanced safety features. The model has earned recognition in the United States for its child seat installation convenience and crash protection, reinforcing its appeal to families with young children. Produced more than 1 million times in North America over the past nine years, the Atlas has established itself as one of Volkswagen’s flagship models in the U.S. market. It was also introduced in Korea last year, offering a spacious six- or seven-seat configuration. One of its key strengths is its ability to accommodate multiple child seats. The seven-seat version can fit three child seats in the second row, while the third row can accommodate two additional seats using seat belts and anchor points. The Atlas was named a Top Finisher in Cars.com's 2026 Best Cars for Car Seats evaluation. It received an A grade in nearly all installation categories, with the second-row booster seat installation receiving a B. Its second-row seats can also tilt forward witho

Kia has achieved solid earnings growth in the third quarter, supported by rising sales of hybrids, electric vehicles (EVs) and popular SUV models across major markets, the carmaker said Friday in a regulatory filing. The carmaker said its operating profit between July and September jumped 24.3 percent to 1.82 trillion won ($1.36 billion). Sales also increased 10.2 percent to 31.6 percent during the same period. The automaker's earnings growth was driven by its diversified electrification strategy, as it helped sustain growth despite weakening global auto demand, Kia said. Global vehicle sales rose 7.9 percent to 847,355 vehicles in the third quarter on balanced sales growth of its hybrids, EVs and SUV models. Kia's SUV lineup, including the Sportage, Carnival and newly introduced Telluride Hybrid, helped drive sales in the United States, where retail sales rose 7.8 percent to approximately 234,000 units. The automaker's U.S. market share reached a quarterly record of 5.8 percent. Hybrid sales in the U.S. surged 118 percent to 69,000 vehicles, significantly outpacing the market's 27 percen

The Seoul AI Foundation has signed an agreement with the state-run Korea Institute for Robot Industry Advancement (KIRIA) to develop joint projects that combine artificial intelligence and robotics to address the city’s needs, the foundation said Friday. The memorandum of understanding was signed Oct. 7 at Smart Life Week 2026, an artificial intelligence (AI) and smart city exhibition hosted by the Seoul Metropolitan Government at Coex in southern Seoul. Seoul AI Foundation Chairman Kim Man-gi and KIRIA President Cho Young-hoon attended the signing. The Seoul AI Foundation is a city-funded body that develops AI policies and services for Seoul. KIRIA operates under the industry ministry to promote the country’s robot industry. The agreement comes as AI expands into what is known as physical AI, in which AI systems control robots and other machines that operate in the real world. Under the agreement, the two organizations will share information and experts on AI and robot policy, technology and industry. They will also identify and carry out joint projects and cooperate on exhibitions,

Hyundai Motor Group said Friday it will set up two special purpose companies next month to build and operate an artificial intelligence (AI) data center in Saemangeum — a massive reclaimed coastal zone in southwestern Korea — accelerating its 9 trillion won ($6.3 billion) plan to turn the area into an advanced tech hub. Situated in North Jeolla Province roughly 200 kilometers south of Seoul, Saemangeum is a vast, government-backed development area created by damming tidal flats to claim new land from the sea. Long slated for economic transformation, the coastal territory is being developed as a strategic enclave for high-tech industry, green energy and tourism. Five affiliates — Hyundai Motor, Kia, Hyundai Mobis, Hyundai Engineering & Construction and Hyundai AutoEver — have made final decisions to invest in the data center, the group said. Hyundai AutoEver, the group’s information technology and software affiliate, approved its participation through a board resolution. One of the new companies will build the hyperscale data center and its infrastructure. The other will buy hi

Samsung Electronics and Korea Gas Safety Corp. have agreed to tighten safety controls at semiconductor facilities in Korea and overseas, seeking to prevent gas-related accidents and protect production continuity as the country's chip industry expands. The two organizations signed a memorandum of understanding Thursday at Samsung's Pyeongtaek campus, focusing on strengthening gas safety infrastructure at facilities designated as nationally critical semiconductor sites. The agreement calls for closer technical cooperation to stabilize newly built facilities, including inspections of pipeline integrity and verification that gas installations meet safety requirements. Under the partnership, the organizations will conduct regular inspections of facilities and pipelines at new sites, provide training to develop specialized safety personnel and share technical information on gas safety. They also plan to jointly identify regulatory obstacles affecting semiconductor operations and explore ways to improve relevant rules. Another key element involves conducting joint special inspections of gas faci