HZB Network Secures $4 Million in Strategic Financing from Faction

Anthropic's corporate political action committee poured $161,000 into campaigns across the aisle last month, bringing their total third-quarter spending to more than $250,000, according to spending records first shared with The Hill. The employee-funded PAC, AnthroPAC, spent more than $255,000 across the third quarter, marking the artificial intelligence firm's latest push for political clout in...

The Federal Trade Commission (FTC) sent subpoenas to OpenAI and Anthropic as part of a federal probe into the potential risks their AI models pose to consumers. An agency spokesperson confirmed to The Hill that the agency has sent the companies civil subpoenas. The investigation comes on the heels of a series of high-profile cybersecurity...

SEATTLE — Alaska Airlines is looking to expand its presence in Asia as its Incheon-Seattle route gains traction, with Korea emerging as a key market in the U.S. carrier’s expanding international network. The airline recorded load factors of 82 percent in June, 84 percent in July and 79 percent in August on the route, marking a strong start in its first full year of operations. The figures exceeded expectations for a new route, which typically takes about three years to mature as the airline adjusts schedules and connections to meet passenger demand. "Those are really good, strong load factors for the first year of a new route," Shane Tackett, president and chief financial officer of Alaska Airlines, said in an interview with The Korea Times on Sept. 29. He added that one month ranked among Alaska's best-performing international routes financially before fuel prices increased significantly. The airline sees further opportunities to attract passengers from Korea, where its brand remains relatively unfamiliar. Tackett said Alaska Airlines aims to raise awareness of its services and enco

Hyundai Motor’s weakening auto profitability is raising questions about the sustainability of its costly investments in robotics and autonomous driving, as the technologies remain years away from generating significant earnings. The company is betting on Boston Dynamics’ Atlas humanoid robot, its own software-defined vehicle (SDV) and autonomous driving capabilities as three core pillars for its future mobility. Yet those businesses are far from generating tangible earnings, leaving Hyundai increasingly dependent on its conventional auto business which faces mounting earnings pressure from labor disputes at home, tariffs from the United States and intensifying competition from Chinese automakers in Europe. The timing gap between its weakening core business and future growth engines is becoming harder for investors to overlook. Hyundai’s shares have fallen around 60 percent from their June 1 peak of 783,000 won ($587) to less than 320,000 won on Monday, reflecting fading enthusiasm for its robotics ambitions and growing doubts over its earnings outlook. The pressure continues to be

Best known for turning sheet masks into a beauty routine staple, L&P Cosmetic’s Mediheal is building its next stage of growth around a broader portfolio of skin care solutions, ranging from toners to serums, cleansers, creams and sun care products. The expansion reflects Mediheal’s evolution from a mask-focused label into a comprehensive skin care brand designed to address consumers’ needs across every step of their daily routines. Drawing on the recognition it has built through sheet masks, the brand is extending its ingredient expertise and research capabilities into products that can be used before, after and alongside masks. That strategy was on display in Japan in August when Mediheal introduced its new Derma Skin Care Series, featuring toners, serums and serum masks. The series used three ingredients closely associated with the brand: tea tree, madecassoside and polydeoxyribonucleotide, better known as PDRN, an ingredient now gaining attention in the skin care market. The series' launch marked another major transformation for the brand since its entry into Japan with its mas

A constellation of five Korean microsatellites successfully captured and transmitted its first images to a ground station within a day of launch aboard the country's homegrown Nuri space rocket last week, the space agency said Thursday. The five New-space Earth Observation Satellite Constellation for National Safety (NEONSAT) microsatellites transmitted their first images just 14 hours and 29 minutes after liftoff from the Naro Space Center in the southwestern coastal town of Goheung on Oct. 7, according to the Korea AeroSpace Administration (KASA). The early acquisition of imagery confirmed the normal operation of the satellites and their optical payloads, marking a milestone in Korea's efforts to establish its first domestically developed microsatellite constellation. The satellites are maintaining stable communications with ground stations, with their power generation and attitude control systems operating normally, KASA said. Following additional payload checks, KASA and the Korea Advanced Institute of Science and Technology (KAIST) will begin initial operations. The five satellites

Korean steelmaker POSCO and shipbuilder Hanwha Ocean are teaming up to build a demonstration liquified natural gas (LNG) carrier equipped with high-manganese steel cargo tanks, aiming to strengthen Korea’s technological competitiveness in a market long dominated by foreign technology. LNG fuel tanks store the fuel used to power LNG-fueled vessels, while cargo tanks on LNG carriers are large storage systems that hold the LNG itself for transportation overseas. According to POSCO, the two companies signed a memorandum of understanding (MOU) at the shipbuilder’s Geoje shipyard to develop the demonstration vessel. The signing ceremony was attended by senior executives from both sides, including POSCO President Lee Hee-geun and Hanwha Ocean CEO Kim Hee-cheul. The partnership comes amid expectations of rising LNG demand as countries seek lower-carbon energy sources, fueling demand for LNG carriers. Korean shipbuilders, however, remain dependent on foreign technology for cargo tanks, a key component of the vessels. Under the MOU, the companies will develop cargo tanks using POSCO’s high-m

A recent hacking incident involving commercial refrigerators at supermarkets in France is highlighting the importance of cybersecurity for connected equipment among Korean businesses, as companies increasingly rely on interconnected and centrally controlled systems for their operations. Industry officials said Thursday that the attack compromised supermarket refrigeration systems, but the underlying issue is the growing reliance of commercial equipment on network connectivity. They stressed the need to strengthen security across both hardware and software to ensure that no loopholes emerge anywhere in the system. The incident affected hundreds of supermarkets in France, where hackers reportedly gained remote access to centralized refrigeration control systems and manipulated temperatures, forcing retailers to discard spoiled food. Danish manufacturer Danfoss, which supplied the affected systems, attributed the incident to outdated equipment that had not received security updates. Retail chains, including supermarkets, use commercial refrigeration equipment. In Korea, major electronics c

Hanwha Systems' laser air defense weapon Cheongwang successfully intercepted three out of three target drones in a live-fire demonstration, highlighting the company's efforts to expand its presence in the global air defense market. The company said Thursday that Cheongwang, also known as the Laser Air Defense Weapon Block-I, and a vehicle-mounted high-energy laser cannon intercepted the drones during the Army’s Army TIGER+ integrated combat exercise in Yangpyeong, Gyeonggi Province, on Wednesday. About 500 people attended the exercise, including the Army chief of staff, military officials, academics and industry experts. Cheongwang and the 30-kilowatt-class vehicle-mounted laser cannon achieved a 100 percent interception rate against the three drones. Small, low-cost unmanned aerial vehicles (UAVs) have emerged as growing battlefield threats, serving both reconnaissance and surveillance purposes and as attack weapons. Laser weapons are gaining attention as next-generation air defense systems capable of countering drone swarms while addressing some limitations of conventional missile-b

Shinhan Financial Group is seeking to bolster its nonbank operations by acquiring Lotte Insurance, but analysts cautioned Thursday that a meaningful contribution to group earnings may take time, as the insurer could require substantial additional capital to strengthen its financial position. Concerns over the cost of the deal weighed on Shinhan shares, which plunged 4.31 percent Wednesday following Tuesday’s announcement and fell a further 0.84 percent Thursday. The group agreed Tuesday to purchase a 77.04 percent stake in Lotte Insurance from private equity firm JKL Partners for 693.3 billion won ($514.6 million). After securing regulatory approval, it plans to acquire the remaining shares and eventually merge the insurer with its existing subsidiary, Shinhan EZ General Insurance. Lotte Insurance has 14 trillion won in assets and 3.34 million customers, giving Shinhan a substantially larger foothold in non-life insurance. The financial group aims to raise annual profit from the business to at least 120 billion won within three years. But market analysts warned that the insurer’s wea

The Financial Services Commission’s (FSC) planned relocation to the administrative city of Sejong next year is raising concerns across the financial industry about potential disruptions to communication with regulators and the resulting operational inefficiencies, industry officials said Thursday. Industry officials are particularly concerned that the move could make it harder for banks and securities firms, most of which are headquartered in Seoul, to consult financial authorities on regulatory matters. The country's top financial regulator, currently based in Seoul, plans to move to Sejong, about 110 kilometers to the south, in the second half of 2027. The move is part of a broader government plan to relocate 44 central government agencies and affiliated bodies from the Seoul metropolitan area to Sejong between 2027 and 2031, aiming to decentralize functions concentrated in the capital area and promote regional growth. Banks are weighing how to adapt, with some expecting to rely more heavily on remote communication. "We expect to establish ways to respond, including expanding the use

QUVASOY, Uzbekistan — Hansae Mobility, a Korean automotive parts manufacturer supplying global carmakers, has expanded its overseas production capacity with the completion of a new plant in Quvasoy, in Uzbekistan's Fergana Region. Hansae Yes24 Group's automotive parts subsidiary held a completion ceremony for the plant Tuesday (local time) in a free economic zone in Quvasoy. The facility is operated by Hansae Mobility Turan, an Uzbekistan subsidiary wholly owned by Hansae Mobility. The ceremony was attended by Hansae Mobility CEO and Hansae Vice Chairman Kim Ik-whan, Mirzohid Murodilovich, deputy governor of Fergana Region, and other officials and representatives from Korea and Uzbekistan. The plant is expected to enable Hansae Mobility to supply its products more quickly to clients in Uzbekistan and expand its customer base in neighboring countries across the Commonwealth of Independent States (CIS). Before the plant opened, Hansae Mobility had to export the parts from Korea. The new facility adds to the company's existing manufacturing bases in Daegu, the U.S. state of Michigan and t