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Telecommunications & Media

Amazon steps up challenge to Starlink after Leo satellite fleet passes 390 ahead of year-end service

Amazon has increased the number of low-Earth orbit satellites for its Leo internet network to more than 390 after launching 29 additional satellites. The company said the current fleet is sufficient to support continuous service across initial latitude bands and plans to start initial service by the end of this year. Amazon aims to build a constellation of about 7,700 satellites, but launch-vehicle shortages and delays have slowed progress.

Industry

240 trillion won to flow into Chungcheong as Samsung and SK roll out investment plans

Samsung Electronics and SK Hynix on Wednesday announced large investment plans for South Korea’s Chungcheong region, totalling 240 trillion won. Samsung said it will invest about 140 trillion won in areas including advanced displays, high-bandwidth memory fabs, next-generation batteries and AI server package substrates, aiming to create 250,000 jobs. SK Hynix said it will invest 100 trillion won in Cheongju, citing a need to expand NAND supply and strengthen advanced packaging.

Crypto

NH Nonghyup Bank, Bank of Korea and KECO cooperate on digital currency subsidy management

NH Nonghyup Bank will work with the Bank of Korea and the Korea Environment Corporation to build a digital currency-based system for managing state subsidies. The three organisations signed a memorandum of understanding on July 2 to 추진 a digital currency-based subsidy programme for medium-speed electric vehicle charging facilities. They agreed to operate a digital currency network stably for reliable payments and settlement and to support subsidy disbursement and management.