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Ko Dong-hwan

Korea Times Business Reporter

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Companies

LG Energy Solution posts record Q3 sales on rising ESS shipments

LG Energy Solution reported record quarterly sales and a 25.7 percent rise in operating profit for the third quarter, driven by growing North American energy storage system (ESS) shipments and stronger electric vehicle (EV) battery sales, the company said on Tuesday. Sales rose 59 percent from a year earlier to 9.64 trillion won ($7.2 billion), while operating profit reached 756 billion won. Sales increased 27.6 percent from the previous quarter, and the operating profit margin stood at 7.8 percent. The company said sales included 417 billion won in North American production incentives, reflecting higher shipments of batteries for ESS in the region. Beyond ESS, sales benefited from increased shipments of high-voltage, mid-nickel pouch batteries for EVs and steady deliveries of 21- and 46-series cylindrical batteries. Operating profits were also supported by better factory utilization in Europe and easing fixed cost burdens as North American ESS production stabilized. “Third-quarter sales increased 28 percent from the previous quarter, driven by a significant rise in ESS shipments and v

4h agoBy Ko Dong-hwan
LG Energy Solution posts record Q3 sales on rising ESS shipments
Companies

CJ Olive Young expands Olive Better wellness chain to 5 locations

CJ Olive Young has expanded its Olive Better wellness retail platform to five locations, adding branches tailored to office workers and tourists as it seeks to make wellness products part of consumers’ everyday routines. The expansion comes nine months after the first store opened in Seoul’s Gwanghwamun area in January. The company added stores at Starfield Coex Mall in southern Seoul and in Seongsu in eastern Seoul both last month, adapting product selections and experiences to each neighborhood’s customers. The Coex store focuses on “office wellness,” targeting workers seeking convenient ways to maintain healthy habits during busy schedules. Healthy snacks and protein products occupy the front of the store, helping shoppers quickly find items suited to their needs. A Daily Routine Bar offers products for individual purchase, allowing customers to try wellness items during commutes or lunch breaks. The Seongsu store, which opened Friday, is the chain’s largest and emphasizes experiences for trend-conscious shoppers and foreign tourists. It includes Better Bar, a food and beve

2d agoBy Ko Dong-hwan
CJ Olive Young expands Olive Better wellness chain to 5 locations
Tech & Science

HD Hyundai Robotics, Palantir to slash robot programming costs with AI

HD Hyundai Robotics is working with Palantir Technologies to integrate artificial intelligence (AI), simulation and human engineers’ expertise into robot programming, aiming to cut programming costs by more than half. According to HD Hyundai Robotics on Sunday, Ahn Sung-hwan, the company's chief technology officer and vice president, outlined the collaboration during a keynote address at Palantir’s recent Sovereignty Bootcamp in New York. He presented his company’s strategy for applying physical AI and its vision for the technology. The collaboration focused on changing how human engineers can solve problems on factory floors. Under the two companies’ collaboration, AI agents analyze existing robot programs and propose improvements. The engineers can then refine what the AI comes up with using their practical experiences. Traditionally, skilled engineers have had to observe robots on-site and repeatedly adjust work sequences, movement paths and speeds. This reliance on individual experience has made the process difficult to standardize. HD Hyundai Robotics said the two companies

2d agoBy Ko Dong-hwan
HD Hyundai Robotics, Palantir to slash robot programming costs with AI
Companies

WEEKENDER Unknown at home, big abroad

It is generally considered less risky for companies to first establish a robust consumer base in the country where they are based, giving them a comfort zone for operations like marketing, administration and customer service. Expanding into overseas markets would be a logical next step. Major Korean firms almost always follow this approach, building operational know-how and a strong domestic following before venturing into uncharted territories. Global expansion has become increasingly encouraging for Korean beauty and food firms thanks to their growing presence on the global stage. According to the Ministry of Food and Drug Safety, Korean beauty exports hit a record $11.4 billion in 2025, up 24.5 percent from 2021. Korean food exports also reached a record in 2025 at $10.4 billion, up 21.9 percent over the same period, according to the Ministry of Agriculture, Food and Rural Affairs. The booming global trade in these industries has encouraged some small and medium-sized Korean companies to aim high from the outset, targeting international consumers rather than the domestic market. These

Oct 31, 2026By Ko Dong-hwan
[WEEKENDER] Unknown at home, big abroad
Companies

Hyosung chairman calls for work culture overhaul on 60th anniversary

Hyosung Group Chairman Cho Hyun-joon called for a fundamental overhaul of work practices and a more resilient corporate culture, Thursday, urging employees to remain steadfast in pursuing their goals as the group marked its 60th anniversary. Speaking at a ceremony at Hyosung’s headquarters in Seoul, Cho said mounting government debt, fiscal deficits, prolonged overseas wars and spreading protectionism in global trade were worsening the business environment. “Our company is by no means immune to these crises,” Cho said. “What we need to overcome them and achieve a new leap forward is an intense commitment to our goals.” He outlined persistence, meticulousness and reliability as key values. “These are not simply slogans,” he said. “They are the attitudes and principles we must put into practice to survive, outperform our competitors and embark on our next 100 years.” Cho also highlighted the meaning of Hyosung’s name, “morning star,” urging employees to remain hopeful through adversity and forge a new future through diligence and perseverance. The ceremony also recogn

Oct 29, 2026By Ko Dong-hwan
Hyosung chairman calls for work culture overhaul on 60th anniversary
Companies

Global coffee brands to converge in Seoul for int'l cafe show

The 25th Seoul International Cafe Show will open Nov. 11 for a four-day run at Coex in Seoul. This year’s event aims to strengthen its position as a global coffee business platform, bringing together leading coffee brands from around the world to connect with Korea’s dynamic market and explore business opportunities. For global companies and participating brands, the exhibition offers opportunities to establish new business channels, identify emerging industry trends and expand their market reach. Attendees can also explore a range of specialized programs designed to foster cross-border collaboration. A key highlight is Coffee Alley, running under the theme of meeting the world’s top independent specialty coffee brands. This signature showcase will feature a total of 78 powerhouse brands, comprising 58 domestic and 20 overseas participants, including elite international cafes that have dominated global rankings. The newly introduced Bakery Alley and the returning Cherry’s Choice will give brands a platform to showcase innovative products and explore the latest F&B trends through

Oct 29, 2026By Ko Dong-hwan
Global coffee brands to converge in Seoul for int'l cafe show
Companies

Sangmidang seeks North American, European expansion through global partnerships

Hur Jin-soo, vice chairman of Korean bakery giant Sangmidang Holdings, met Gellert Global Group (GGG) Chairman George Gellert and U.S. Ambassador to France Charles Kushner in Paris earlier this week to explore broader partnerships in overseas markets. Sangmidang said Wednesday that Hur discussed business developments and potential cooperation with Gellert and other GGG executives. Samlip, Sangmidang’s mass-market bakery subsidiary, could work with GGG to expand through U.S. supermarket and food service distribution networks and potentially enter Canada and Mexico, the Korean company said. U.S.-based GGG imports and distributes food products to retailers, food service distributors, restaurants, hotels, cruise operators and food manufacturers across North America. It sources more than 4,000 products from 60 countries and generates more than $1.7 billion in sales per year. The discussion first took place on Oct. 18 when Hur attended a reception for GGG’s partner firms at the U.S. ambassador’s residence in Paris. Hosted by Kushner, the event brought together about 130 representatives

Oct 28, 2026By Ko Dong-hwan
Sangmidang seeks North American, European expansion through global partnerships
Companies

Kolmar vice chairman confident in K-beauty's continued growth

Kolmar Group Vice Chairman Yoon Sang-hyun expressed confidence in K-beauty’s continued growth at Amazon Beauty in Seoul 2026 on Tuesday. Yoon delivered a presentation on the sustainability of K-beauty, highlighting the industry's growth potential, driven by the emergence of new brands and an ecosystem connecting product developers with global consumers. Kolmar Korea has served as the event’s exclusive manufacturing sponsor for three consecutive years since its launch in 2024. Amazon Beauty in Seoul is an annual conference and networking event that helps Korean beauty brands expand into overseas markets through Amazon’s global e-commerce platform. “The driving force behind K-beauty’s growth is the constant emergence of new brands,” Yoon said. “With a good idea, ODM (original development manufacturing) companies like Kolmar Korea can develop products, while global platforms like Amazon connect them with consumers around the world, creating an ecosystem that makes this possible.” He added that K-beauty’s strength lies in an ecosystem that allows new brands to continuously e

Oct 27, 2026By Ko Dong-hwan
Kolmar vice chairman confident in K-beauty's continued growth
Companies

Social media key to success for K-brands, AI expert says

Social media platforms have become a key marketplace for Korean beauty, food and fashion brands, and companies can leverage artificial intelligence (AI) to make their products go viral in global markets at minimal cost, according to an AI expert in Seoul Tuesday. Seldon Yoon, founder and CEO of Indent, a Seoul-based developer of commerce AI transformation (AX) solutions, said Reels and short-form content on Instagram and TikTok have become major channels for Korean consumers to discover and purchase new products. He added that creator content marketing has become more critical than ever, particularly for companies seeking to promote their products overseas and attract local consumers. Yoon, a former global e-commerce consultant for Samsung Electronics, cited a sharp increase in K-beauty exports since 2024 as evidence of successful overseas marketing. According to the Ministry of Food and Drug Safety, Korea's cosmetics exports reached a record $11.4 billion last year, up from $10.2 billion the previous year, with the United States accounting for the largest share. “All K-beauty exporte

Oct 27, 2026By Ko Dong-hwan
Social media key to success for K-brands, AI expert says
Companies

Korea's tungsten mine could help US cut reliance on China, Tungco CEO says

As the United States seeks to reduce its reliance on China for tungsten, a critical mineral used in semiconductors and defense systems, producers in allied nations such as Korea could help fill the supply gap, according to a Kentucky-based tungsten recycling executive. Cliff Nance, owner and CEO of Tungco, said “more production from trusted allies” could help the United States reduce its reliance on China, which dominates the global tungsten supply chain. He welcomed the prospect of the U.S. importing tungsten from the Sangdong mine in Yeongwol, Gangwon Province, where Almonty Korea Tungsten Corp. (AKTC) completed production facilities in September. “Almonty’s Sangdong mine is a positive development for both Korea and the U.S.,” Nance said in an interview with The Korea Times. "Breaking China’s dominance of tungsten requires more production from trusted allies, and Korea can play an important role." According to the U.S. Geological Survey, China produces 67,000 of the 85,000 metric tons of tungsten mined globally each year. Seeking to reduce reliance on Chinese supplies, Tun

Oct 27, 2026By Ko Dong-hwan
Korea's tungsten mine could help US cut reliance on China, Tungco CEO says
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