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Samsung, Google Unveil Galaxy Glasses with Gemini AI

Samsung is expanding into smart eyewear with Android XR–based glasses developed with Google and designed alongside Gentle Monster and Warby Parker, featuring Gemini AI, a camera and on-device capabilities while functioning as a display-free, phone-connected accessory. The reveals emphasize privacy controls, long battery life (about nine hours with a charging case), and upcoming fall launches across its partner brands, signaling a broader push into AI-powered eyewear with premium designs.

23 sources

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Coupang warehouse fire fully extinguished after 109 hours

A massive Coupang warehouse fire in Incheon was fully extinguished after about 109 hours, with hundreds evacuated and two firefighters injured, as investigators prepare to probe the cause amid the eight-story, 299,000-square-meter facility and large quantities of combustible materials. The blaze is noted as one of the longest warehouse fires in South Korea, highlighting challenges posed by the building’s layout and contents.

7 sources

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OCI reports Q2 profit from petrochem, semis

OCI swung to a 43.3 billion won operating profit on 535 billion won revenue in Q2, driven by higher volumes and prices in petrochemicals and improvements in semiconductor materials. The company also outlined growth initiatives in high-value materials, wafer reclamation for semiconductor packaging, and the acquisition of OCI Specialty to diversify its portfolio and align with government-led semiconductor expansion.

8 sources

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BMW launches Alpina luxury brand after 25 years

BMW Group is launching Alpina as an ultra-luxury brand positioned between BMW and Rolls-Royce to tap Korea’s growing market for exclusive, understated high-end vehicles, with plans for seven dedicated Alpina showrooms by 2027 and first models arriving in early 2028. The rollout includes Asia’s first Alpina community event in Seoul and emphasis on targeted ultra-high-net-worth customers, underscoring Korea as a pivotal launch market after Alpina’s trademark rights were transferred earlier this year.

7 sources

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Coupang to Fully Compensate Incheon Warehouse Fire Losses

Coupang Fulfillment Services will fully compensate Rocket Growth/Rocket Gross sellers for inventory losses from the Incheon Seoknam-dong warehouse fire, including stock in areas not directly affected, with counts tallied mid-August and streamlined documentation to prevent further business disruption. The company also backs the local community by delivering masks to schools and providing medical support for nearby residents as part of its response.

5 sources

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Blue House says Lee waives mortgage interest

President Lee Jae-myung waived interest on a 1.77 billion won mortgage tied to the Bundang apartment sale, with the buyer set to repay the balance by October as part of a 2.9 billion won deal. The government and experts described the arrangement as akin to a bank loan rather than a gift and said any gift-tax implications would be handled under regulations, amid ongoing public scrutiny of the transaction.

5 sources

Photo: Lotte Chemical Pakistan / Wikimedia Commons (Public domain)

Gov't Approves Yeosu Petrochemical Restructuring Plan 700B Won

South Korea approved a second restructuring plan for the Yeosu petrochemical complex, detailing the merger of Lotte Chemical’s naphtha cracking center with Yeochun NCC and its integration with DL Chemical and Hanwha Solutions to push toward higher-value products, supported by more than 700 billion won in government aid and 800 billion won from the companies to finance debt repayment and restructuring. The package aims to streamline operations, reform payment systems to curb wage arrears, and broaden tax incentives and regulatory relief as part of a long-term competitiveness push for the industry.

10 sources

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South Korea's carriers launch Ray-Ban Meta AI glasses

South Korea’s three major mobile carriers began selling the Ray-Ban Meta second-generation AI glasses, pairing device discounts with smartphone plans to push Meta’s AI ecosystem beyond smartphones. Shinsegae I&C also announced distribution of Ray-Ban Meta and Oakley Meta through domestic channels, expanding partnerships to bring the AI glasses to a wider market.

12 sources

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Bank loan delinquency hits 9-year high in May

Korean banks’ won-denominated loan delinquency rate rose to 0.67% at end-May, the highest in nearly nine years, driven by a jump in corporate lending and a spike in new delinquencies as write-offs fell. SME loans reached 1.00% and large corporates also rose, highlighting growing distress among small and mid-sized borrowers amid high rates and slower demand.

5 sources

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Novartis Plans 140 Billion Won RLT Hub in Korea

Novartis will invest about 140 billion won to build Korea’s domestic radioligand therapy ecosystem, including local manufacturing, advanced cold-chain logistics, and a plan to train RLT specialists while expanding treatment sites from 10 to 30 hospitals. In partnership with the Ministry of Health and Welfare, the move aims to boost Korea’s RLT research, development, and manufacturing capabilities and improve access for cancer patients.

6 sources

Photo: Oskar Alexanderson / Wikimedia Commons (CC BY-SA 2.0)

Samsung, LG Sweep Energy Winner Awards, Set Record

Samsung Electronics and LG Electronics dominated the 29th Energy Winner Awards, with Samsung winning the Energy Grand Prize for an eighth consecutive year and LG securing a record-tying 12 awards including three grand prizes; both firms highlighted AI-driven, energy-saving technologies across appliances from air conditioners to dishwashers. The ceremony, organized by the Consumer Citizens' Association and supported by the Ministry of Climate, Energy and Environment and the Korea Energy Agency, showcased Samsung's Bespoke AI WindFree Combo Gallery Pro and Infinite Line hood-integrated induction, and LG's Whisen AI Object Collection Tower and other energy-efficient products as leaders in cutting power use.

7 sources

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Taekwang Expands Win-Win Loan Fund to 50 Billion

Taekwang Industrial, together with Woori Bank, expanded its Win-Win Loan program from 10 billion to 50 billion won to subsidize suppliers, raising the maximum loan per company to 1 billion won and offering interest-rate relief of 3.16 to 3.59 percentage points for 121 partner firms. The initiative also includes non-financial support such as succession planning and asset management, while Taekwang’s savings banks will write off 26.9 billion won in long-delinquent debt to aid vulnerable borrowers.

7 sources