AMCHAM, KCCI urge Korean firms to seize US opportunities

Alleged messages between Cornell University students accused of rape could become crucial pieces of evidence.

A planned 30-minute reduction in bank branch hours is drawing mixed reactions from customers, with many worrying that shorter service hours could make it harder to get in-person banking services. Under a tentative labor-management agreement reached Monday, bank branches will open at 9:30 a.m. starting April next year, instead of the current 9 a.m., while closing hours will remain unchanged at 4 p.m. Some customers said the shorter hours could worsen already long waits as banks continue to reduce the number of branches and staff. "Even when I go in the morning, there are already long lines, and there are fewer employees available during lunch breaks. I don't understand why they are shortening the hours. If anything, they should keep the branches open until later," said Park, an office worker in Seoul. Some online users suggested that if banks are going to shorten their operating hours, they should instead open later and close later, saying longer evening hours would make it easier for office workers to visit branches after work. The issue is particularly relevant for customers looking for

Korea’s low-cost carriers (LCCs) are caught in a dilemma over rising demand for Starlink in-flight Wi-Fi, as the service carries hefty installation and operating costs for most budget airlines. Korean Air started introducing the service for the first time among local carriers in mid-September, initially focusing on long-haul routes. The flag carrier is expected to face few difficulties in expanding the service across its fleet stably due to the airline’s stronger financial resources than LCCs. Korean Air plans to expand its free Wi-Fi service to most of its fleet by the end of 2027 following its integration with Asiana Airlines. The service will also be introduced to its LCC affiliates. Jin Air plans to begin installing Starlink on its Boeing 737-8 aircraft, while Air Busan and Air Seoul are reviewing suitable aircraft for the system. The three LCCs will be merged into converged Jin Air following the integration of Korean Air and Asiana Airlines. However, other LCCs controlled by smaller parent firms than Korean Air are widely expected to face a tougher cost challenge when introducin

Lisa Su, chief executive officer of Advanced Micro Devices Inc. (AMD), is expected to visit Korea next month to meet with Korean semiconductor companies and government officials, industry sources said Wednesday. The visit would come about seven months after her previous trip to Korea in March. According to government and semiconductor industry sources, a meeting attended by Su is being considered for Oct. 8 in Seoul. The meeting is expected to include the CEOs of major Korean artificial intelligence (AI) semiconductor companies, including Rebellions Inc., FuriosaAI and Mobilint. Su is also expected to meet with Science Minister Bae Kyung-hoon around the time of the meeting, the sources said. During her visit, Su is also coordinating meetings with heads of major Korean companies, including Samsung Electronics Co. When she visited in March, the AMD chief met with Samsung Electronics Chairman Lee Jae-yong. Samsung Electronics has supplied HBM3E chips to AMD for its latest AI solutions since 2025, with the two companies maintaining a close business relationship.

Korea's antitrust watchdog said Wednesday it has begun deliberations on allegations Korean Air Lines Co. failed to meet seat capacity requirements imposed as conditions for its takeover of Asiana Airlines Inc. The Fair Trade Commission (FTC) said its examiner's report recommended taking actions against Korean Air, its affiliate Jin Air and Asiana Airlines for providing fewer than 90 percent of the seats offered in 2019 on routes connecting the central city of Cheongju and the southern resort island of Jeju between December 2024 and December 2025. Under the merger conditions, the watchdog required the airlines to maintain seat capacity on designated routes at no less than 90 percent of corresponding 2019 levels. The report found the airlines had violated the FTC's requirements and recommended imposing penalties for noncompliance and referring the case for criminal investigation. In a separate case, an examiner's report recommended rejecting Korean Air and four affiliated airlines' request to lower the minimum seat capacity requirement from 90 percent to 70 percent of 2019 levels on routes

The chief of Korea's space agency said Wednesday preparations for the fifth launch of the homegrown Nuri rocket are proceeding as planned ahead of the launch next week. Oh Tae-seok, administrator of the Korea AeroSpace Administration (KASA), made the remarks during a meeting with reporters ahead of the launch scheduled for Oct. 7 at the Naro Space Center in Goheung, about 473 kilometers south of Seoul. "Preparations have been proceeding without any problems so far," Oh said. The Nuri rocket will carry 15 satellites, including five satellites that will form part of the country's first domestically launched microsatellite constellation. The payload consists of five New-space Earth Observation Satellite Constellations for National Safety (NEONSAT) as the primary payload and 10 CubeSats as secondary payloads. Oh stressed that a key challenge will be precisely deploying all 15 satellites from the launch vehicle and placing them into their designated orbits. "The ability to launch different satellites into different orbits is a key capability for commercial launch services, so we need to build u

Cutting greenhouse gas emissions does not automatically generate revenue. Companies must first measure and verify the reductions, then have them recognized as carbon credits before they can sell them. For smaller businesses with limited staff and capital, navigating those steps can be difficult. Hooxi Partners, a climate fintech company, was founded to help close that gap. Before establishing it in 2021, CEO Lee Haeng-youl saw an opportunity in the environmental, social and governance (ESG) market as environmental gains were difficult to measure, and businesses had few ways to turn them into financial value. He believed reliable emissions data could provide the basis for tradable carbon credits. “For carbon reduction to be sustainable, those making the cuts must receive an economic reward. Telling companies to do it because it is the right thing will not work for long,” Lee said in a recent interview with The Korea Times. That idea is reflected in the company’s slogan, “We make money from carbon credits.” Since founding the company, Lee has sought to change how businesses view

Samsung Electronics held its annual artificial intelligence (AI) forum Wednesday, bringing together global experts to discuss how agentic AI — systems that can make decisions and carry out tasks on their own — can be turned into real-world business results. The Samsung AI Forum 2026, held at the company's Seocho office building in southern Seoul, marked its 10th year with the theme "The Agentic Shift: From Intelligence to Impact." Discussions focused on agentic AI and physical AI, which refers to AI that operates in the physical world, such as robots. About 400 people attended, including 100 professors and researchers from Korean graduate schools and 300 Samsung employees. The event also streamed live on YouTube. "Agentic AI will go beyond simple technological innovation to bring fundamental changes to the way we work and to organizational culture," Samsung Vice Chairman and CEO Jun Young-hyun said in his welcoming remarks. In the morning keynote session, Richard Ho, head of hardware at OpenAI, discussed how agentic AI built on large language models could change businesses and industr

Korea’s premier defense and space contractor Hanwha Aerospace has begun assembling a reusable rocket technology demonstrator, marking a critical step toward developing vertically landing launch vehicles similar to SpaceX’s Falcon 9. Hanwha Aerospace said Wednesday that it started full assembly of the demonstrator as part of a project led by the Korea Aerospace Research Institute (KARI), with Vitzro Nextech and Hanyang ENG also participating. The project aims to complete technology demonstrations by 2028, including a vertical takeoff and landing flight test designed to verify core technologies needed for reusable launch vehicles. The demonstrator stands 12.2 meters tall and 1.5 meters in diameter and is designed to carry one staged-combustion cycle turbopump engine. During a planned 2028 flight test, the vehicle is expected to rise vertically to an altitude of 500 meters within about 90 seconds before returning for a controlled vertical landing. Hanwha Aerospace said the test will focus on technologies including engine thrust control, attitude control and guidance, all considered essen

Hyundai E&C is set to begin sales of units at Hillstate Godeok Ellist, an apartment complex in Godeok International New Town in Pyeongtaek, Gyeonggi Province, this month. The complex will comprise 1,779 units across two blocks. One block will have 942 units in a 23-story building with one basement level, while the other will have 837 units in a 27-story building with two basement levels. All units will have 84 square meters of living space. Godeok International New Town is located near Samsung Electronics' Pyeongtaek campus, which is one of the company's major semiconductor production sites. With Samsung pursuing plans to expand production capacity there, the area is expected to see continued housing demand. "Hillstate Godeok Elit combines the price advantage of the apartment price ceiling system with proximity to Samsung Electronics and a well-developed residential environment," the company’s official said. "It is expected to emerge as a new landmark in Godeok, backed by the premium of the Hillstate brand." The area is also gaining new schools, shops and public facilities as the planne

Korea’s anti-corruption agency met with international business executives Wednesday morning to hear firsthand the hurdles facing global firms operating in the country. The policy roundtable, hosted by the Anti-Corruption and Civil Rights Commission at the Korea Press Center in central Seoul, brought together leaders from 10 foreign chambers of commerce. Representatives from Australia, Britain, Canada, China, France, Germany, Japan, Singapore, Spain and Sweden sat down with Korean officials to detail the operational challenges and policy grievances their member companies navigate daily. The commission organized the session as part of a broader effort to refine administrative policies and foster a more predictable, transparent business landscape. Alongside gathering feedback on local regulations, officials highlighted Korea’s recent anti-corruption milestones and clean-government initiatives, aiming to reassure international investors of the nation’s commitment to fair competition. International firms operating in Korea have long cited complex regulatory frameworks, shifting adminis

Citi has supported Hana Bank’s first $100 million digital bond issuance on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform, serving as issuing and paying agent, the global lender said Wednesday. The transaction marked the first time a Korean bank issued a foreign-currency bond on the platform and settled it on the same day, known as T+0 settlement, according to Citi. The bond also became the first digital bond listed on the Singapore Exchange. Citi coordinated issuance, settlement and delivery of the digitally native notes (DNN) to the dealer for distribution to investors through Euroclear’s settlement bank. The deal adds to Citi’s digital debt business. The lender said it has acted as issuing and paying agent for most transactions completed to date on Euroclear’s D-FMI platform. “Citi’s role in Hana Bank’s landmark issuance reflects the commercial scale we are building in digital debt markets, having supported similar transactions across diverse issuers and markets globally,” said Dirk Jones, head of Issuer Services at Citi Services. “This is a f