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Industry

MSIT launches Chungcheong information security cluster to grow regional security industry

South Korea\'s Ministry of Science and ICT and the Korea Internet & Security Agency on July 27 held an opening ceremony in Sejong for the Chungcheong Information Security Cluster. The cluster is designed to help spread information security firms, talent and infrastructure beyond the Seoul area and support co-growth with regional strategic industries. It provides office space, a security testbed and a cyber training facility, and will be linked to local industries such as smart cities, smart defense, converged bio and mobility.

Games & Commerce

Naver narrows commerce gap with Coupang by expanding from search to delivery

Naver is narrowing its gap with Coupang by expanding beyond search and price comparison into delivery and returns management. An analysis by Wiseapp.Retail put Naver and Naver Pay at 96.5 when Coupang is set at 100, though the figure may include external merchant payments. Broker estimates point to strong commerce revenue growth and rising user metrics for Naver Plus Store. The push into fulfillment is lifting transactions and orders, but costs are rising and user gaps remain.

Industry

SK $500 billion, Samsung $200 billion: global AI deals unveiled

Around a San Francisco AI summit, South Korea unveiled government-led cooperation plans between global AI companies such as Nvidia, OpenAI and Broadcom and Korean firms including Samsung Electronics, SK Group, Hyundai Motor Group and Naver. Nvidia and SK Group disclosed a partnership intent worth more than $500 billion, while Samsung and Broadcom signed an MOU worth more than $200 billion through 2030. Nvidia and Brookfield also plan a $10 billion investment in Naver.