The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Mar. 20.
KEPCO’s grid expansion delays force power firms to seek legal action
Major power generation companies affiliated with South Korean conglomerates, including Samsung and Posco subsidiaries, plan to file a complaint with the Fair Trade Commission against Korea Electric Power Corp. (KEPCO) over delays in transmission network construction that have prevented them from operating at full capacity and generating revenue. KEPCO, burdened by over $150 billion in debt, has struggled to expand its infrastructure, leaving private power producers, particularly those on the east coast, unable to sell electricity despite significant investments. Companies like Gangneung Eco Power and Samcheok Blue Power allege that KEPCO prioritized purchasing electricity from its own subsidiary, Korea Hydro & Nuclear Power, exacerbating their financial distress. With AI and other energy-intensive industries driving demand, the lack of transmission capacity has left newly built coal plants idle, leading to mounting losses. As a last resort, affected companies have completed legal reviews and are preparing to take action, highlighting the growing tensions between private power producers and the state-run utility.
Korean brands gain ground in Japan across beauty, fashion, and food
South Korean brands are gaining traction in Japan, a market long considered challenging for foreign companies due to strong local brand loyalty. Coffee chain Hollys recently opened its second Osaka store, reflecting a broader trend of Korean businesses expanding beyond niche Korean town markets into prime commercial districts. The success of K-beauty, now Japan’s top imported foreign beauty segment, has fueled this shift, with brands leveraging K-pop endorsements and major retail partnerships. Korean food chains like Mom’s Touch are also making inroads, competing in highly competitive segments such as burgers and fried chicken. Meanwhile, Korean fashion platforms like Musinsa and Ably are seeing strong sales in Japan, with Musinsa’s global store turning a profit largely due to demand from Japanese consumers. Government data highlights this momentum, showing a sharp rise in Korean food establishments and brands in Japan, signaling a growing presence across multiple industries.
SK Hynix ships HBM4 samples early to Nvidia and Broadcom as AI chip race heats up
SK Hynix has introduced its sixth-generation high-bandwidth memory (HBM4), set to power Nvidia’s next-generation AI accelerators, with the first 12-layer samples already supplied to major clients, including Nvidia and Broadcom. HBM4 offers over 2 terabytes per second of bandwidth, making it more than 60% faster than HBM3E while enhancing stability and heat dissipation. SK Hynix, which led the industry with HBM3 mass production in 2022, plans to begin mass-producing HBM3E 16-layer products in the first half of this year, followed by HBM4 12-layer in the second half and 16-layer in 2026. As Nvidia speeds up its AI chip launch timeline, SK Hynix, Samsung, and Micron are intensifying HBM development, with SK Hynix accelerating its HBM4 schedule by about a year. Holding a 65% share of the global HBM market in 2023, SK Hynix remains Nvidia’s primary supplier, showcasing its latest AI memory lineup at GTC 2025 under the theme “Memory, Powering AI and Tomorrow.”
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