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Industry

SoftBank to launch gigawatt-scale battery business with South Korean firm in AI-era power bet

SoftBank is moving into battery production in Japan to meet surging power demand driven by the spread of artificial intelligence, aiming to expand into a power and data infrastructure company. It plans to build a battery production base called the GX Factory on the former Sharp Sakai plant site in Sakai, Osaka. SoftBank will develop zinc halide batteries with South Korean firm Cosmos Lab and build energy storage systems with DeltaX.

AI & Enterprise

MegazoneCloud to co-develop physical AI business models with Japan\'s AVITA

MegazoneCloud said on Monday it will work with Japan’s AI avatar company AVITA to develop physical AI business models. The companies recently signed a strategic partnership agreement at MegazoneCloud’s liaison office in Seoul’s Yeoksam-dong. They plan to combine MegazoneCloud’s cloud and AI capabilities with AVITA’s AI avatar technology to develop physical AI services linked to autonomous robots and apply them across industrial sites, with plans to expand cooperation into areas including finance and the public sector.

Finance

Shinhan Financial recommends two new outside director candidates

Shinhan Financial Group’s holding company said on March 3 it recommended 2 new outside director candidates, Park Jong-bok and Lim Seung-yeon, after meeting its outside director and audit committee nomination panel. It also recommended the reappointment of 5 outside directors. Two directors, Yoon Jae-won and Lee Yong-kuk, will step down after this month’s annual shareholders meeting. The company also proposed outside directors and audit committee candidates in line with revisions to commercial law.