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AI & Enterprise

SK AX partners with Korea Electric Power Engineering & Construction on AX in power and energy industry

SK AX said on July 2 it signed a memorandum of understanding with Korea Electric Power Engineering & Construction at SK U Tower in Seongnam, Gyeonggi province, to cooperate on AX in the power generation and energy industry. KEPCO E&C is pursuing AX innovation to respond to changes in future energy businesses such as SMRs and renewable energy. The two companies plan to roll out AX initiatives from back-office functions to core areas including power plant design and operations.

Finance

KB Kookmin Bank consortium picked as preferred bidder for Jeonbuk offshore wind project

A consortium involving KB Kookmin Bank has been selected as the preferred bidder for the Jeonbuk southwest offshore wind public project in South Korea. The project will first develop 800 MW of a planned 2.5 GW offshore wind complex in waters off Buan, North Jeolla Province, under a public-led model in which public institutions hold at least 50 percent. KB Kookmin plans to provide financial advisory services and arrange project financing.

Industry

President Lee Jae Myung vows \'ultra-gap\' lead with AI triangle, boosts southwest semiconductor hub

President Lee Jae Myung chaired a briefing at Cheong Wa Dae on three mega projects and outlined a Korea-style AI industrial push centred on semiconductors, physical AI and AI data centres. He said only speed would ensure survival and pledged large investment in new hubs, including the southwest. Lee said existing sites around Yongin and Pyeongtaek face power and water limits, and vowed stronger government support so companies can invest without losses.