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LG AI Research Unveils Vision to Expand EXAONE AI Ecosystem

LG AI Research Unveils Vision to Expand EXAONE AI Ecosystem

SEOUL, July 22 (Korea Bizwire) — LG AI Research, the artificial intelligence (AI) lab under South Korea’s LG Group, on Tuesday unveiled its vision to expand the EXAONE AI ecosystem, encompassing every level from foundation models to enterprise-level AI application services. “We will secure global competitiveness based on our proprietary foundation model and apply it [...]

LG Electronics CEO Cho Gifts First Korean-Made Radio to Qualcomm CEO to Mark Partnership

LG Electronics CEO Cho Gifts First Korean-Made Radio to Qualcomm CEO to Mark Partnership

SEOUL, July 22 (Korea Bizwire) — LG Electronics Inc. Chief Executive Officer (CEO) Cho Joo-wan has presented a replica of the company’s first radio to Qualcomm Inc. CEO Cristiano Amon as a symbol of appreciation for the long-standing partnership between the two companies. Amon shared a photo on Tuesday on his LinkedIn account of himself [...]

Jeju Air Expands Fleet With 6th B737-8 As Part Of Modernization Push

Jeju Air Expands Fleet With 6th B737-8 As Part Of Modernization Push

SEOUL, July 22 (Korea Bizwire) — Jeju Air Co., South Korea’s leading low-cost carrier, said Tuesday it has added its sixth Boeing B737-8 aircraft as part of efforts to modernize its fleet. With the latest acquisition, Jeju Air now operates a total of 44 aircraft, with 42 passenger planes and two cargo aircraft. The airline [...]

Korean Mid-Sized Companies Turn to M&A to Build Synergies Across Sectors

Korean Mid-Sized Companies Turn to M&A to Build Synergies Across Sectors

SEOUL, July 22 (Korea Bizwire) — South Korea’s mid-sized and smaller business groups are increasingly leveraging mergers and acquisitions (M&A) to expand their reach, diversify services, and create synergies between legacy businesses and emerging growth engines — from hospitality and aviation to cosmetics, food tech, and education. Recent deals underscore how cross-sector integration is reshaping [...]

Renault Group Names Nicolas Paris as New CEO of Renault Korea

Renault Group Names Nicolas Paris as New CEO of Renault Korea

SEOUL, July 21 (Korea Bizwire) — Renault Group on Monday announced the appointment of Nicolas Paris as the new chief executive officer (CEO) of Renault Korea Motors Co., according to the automaker. According to Renault Korea, Paris will succeed current CEO Stephane Deblaise, who has been tapped to lead Renault Group’s operations in India, effective [...]

SK Group Chief, OpenAI CEO Discuss AI Cooperation In San Francisco Meeting

SK Group Chief, OpenAI CEO Discuss AI Cooperation In San Francisco Meeting

SEOUL, July 21 (Korea Bizwire) – Chey Tae-won, chairman of South Korea’s SK Group, recently met with OpenAI chief executive officer (CEO) Sam Altman in San Francisco to discuss potential collaboration on artificial intelligence (AI) infrastructure and broader strategic partnerships, according to industry sources Monday. Chey visited OpenAI’s headquarters in San Francisco in early July [...]

SK Chairman Warns of China’s Lead in AI, Calls for Korea-Japan Tech Alliance and Bold Policy Shifts

SK Chairman Warns of China’s Lead in AI, Calls for Korea-Japan Tech Alliance and Bold Policy Shifts

GYEONGJU, July 19 (Korea Bizwire) — Chey Tae-won, Chairman of SK Group and the Korea Chamber of Commerce and Industry (KCCI), issued a pointed warning on Friday about China’s rapid advancement in manufacturing AI, urging South Korea to form a strategic alliance with Japan and reform key policies to maintain competitiveness in the global AI [...]

Samsung E&A Wins 909.6 Bln-Won Deal For Samsung Electronics Chip Facility

Samsung E&A Wins 909.6 Bln-Won Deal For Samsung Electronics Chip Facility

SEOUL, July 18 (Korea Bizwire) — Samsung E&A Co., a plant builder under Samsung Group, said Friday it has won a 909.6 billion-won (US$653.2 million) order to work on a semiconductor facility for Samsung Electronics Co., another key affiliate of the conglomerate. Samsung E&A will conduct finishing work for Phase 4 of the P4 plant [...]

Chaebol Heirs Reap Huge Dividends from Unlisted Affiliates, Raising Red Flags

Chaebol Heirs Reap Huge Dividends from Unlisted Affiliates, Raising Red Flags

SEOUL, July 15 (Korea Bizwire) — South Korea’s powerful business conglomerates, or chaebol, continued a controversial pattern in 2023: funneling excessive dividends to owner families through privately held affiliates, some of which posted losses, prompting renewed concerns over shareholder inequality and market distortion. According to audit reports filed with the Financial Supervisory Service and reviewed [...]