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Ko Dong-hwan

Korea Times Business Reporter

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Companies

HD Hyundai expands US shipbuilding push with Kiewit partnership

Korean shipbuilding giant HD Hyundai has expanded its cooperation in the United States to capture new market opportunities, signing a strategic partnership agreement with Kiewit, a major American engineering, procurement and construction (EPC) company. The Korean conglomerate said Sunday that the agreement was signed at Kiewit Offshore's headquarters in Corpus Christi, Texas on Thursday (local time). HD Korea Shipbuilding & Offshore Engineering Executive Vice President Choi Han-nae and Kiewit Offshore CEO Chad Johnson attended the signing. Kiewit, according to HD Hyundai, is one of the largest construction, engineering and infrastructure companies in North America. The company has a strong track record in large-scale EPC projects spanning across power, energy and marine industries. It has extensive experience in manufacturing, installing and commissioning large offshore structures across North and South America. Under the new partnership, HD Hyundai and Kiewit will explore joint ship construction in the U.S. and cooperate on producing ship blocks and modules. The collaboration aims to c

Jul 19, 2026By Ko Dong-hwan
HD Hyundai expands US shipbuilding push with Kiewit partnership
Companies

MODERNhan promotes Korean alcohol, hanbok worldwide

The global rise of K-culture, driven by foods, beauty products, music and traditional heritage, has introduced the country to consumers around the world. However, a more sophisticated and strategic approach is needed to help them experience deeper culture and further sustain trade, according to the head of a Seoul-based event planner dedicated to promoting the country’s heritage. Cho In-sun, CEO of MODERNhan, plans and executes events involving Korean traditional culture including hanbok, or Korean traditional attire, and traditional alcoholic beverages. Through these events, she aims to promote Korea's cultural heritage to international visitors and other overseas consumers in a more engaging and immersive way. Her latest project debuted on July 12 when she opened a gallery-slash-store in central Seoul's cultural Insa-dong neighborhood dedicated to Korean alcoholic ranging from traditional brews to modern spirits. Over 160 kinds of alcohols and a design glass to go with each of them are showcased inside the cozy space in the Seoul hotspot concentrated with businesses inspired by Kore

Jul 17, 2026By Ko Dong-hwan
MODERNhan promotes Korean alcohol, hanbok worldwide
Companies

LG Energy Solution to supply batteries for Google's largest solar-storage project

LG Energy Solution will supply battery energy storage systems (BESS) for a large-scale renewable energy infrastructure project to be developed by Google and Cypress Creek Energy (CCE), a leading U.S. independent power producer, the companies said Tuesday (local time). The project, dubbed the Steel River Energy Center, will integrate solar photovoltaic generation with BESS powered by batteries supplied by LG Energy Solution. The initiative is designed to address rapidly growing electricity demand driven by expansion of data centers and artificial intelligence workloads. The project will initially deploy approximately 2 gigawatt-hour (GWh) of battery capacity, with operations targeted for 2029 and a planned expansion to 2.9 GWh. Google will purchase the facility's entire output during its initial phase, underscoring its commitment to clean energy and grid reliability. The company said the Steel River Energy Center is the largest solar-plus-storage project in its global energy portfolio. The deal underscores LG Energy Solution’s rising prominence in North America’s energy storage market

Jul 15, 2026By Ko Dong-hwan
LG Energy Solution to supply batteries for Google's largest solar-storage project
Companies

Korean gov't, industry closely monitor Trump's Hormuz toll plan

The Korean government and maritime logistics industry are grappling with U.S. President Donald Trump’s proposal to impose a toll equal to 20 percent of the value of cargo for ships passing through the Strait of Hormuz, a strategic waterway at the center of tensions between the United States and Iran. They say they are discussing the issue with relevant domestic and international institutions and companies, to determine whether the plan will be actually carried out and, if so, when and how, and to assess the impact on the Korean shipping industry. Government officials were cautious of commenting, saying they are closely monitoring the situation. The foreign ministry said Tuesday that the government is closely monitoring the situation while maintaining communication with the U.S. "Including Trump’s remarks, the government will continue to monitor developments related to the strait and determine its position accordingly," ministry spokesperson Park Il said during a briefing. "The ministry needs additional information on the exact background behind Trump’s remarks and how the U.S. toll

Jul 14, 2026By Ko Dong-hwan
Korean gov't, industry closely monitor Trump's Hormuz toll plan
Companies

Sono's 33 Hotel becomes go-to spot for BTS concert in NYC

Korean hospitality company Sono International's five-star hotel in Manhattan is an official partner of K-pop group BTS' concerts in New York City next month, promoting affiliated programs and services for patrons from worldwide. According to the Sono Trinity Group's hospitality subsidiary on Tuesday, 33 Hotel by Sono Calm has been selected for "BTS the City Arirang — New York," a project hosted by the boy band's management company HYBE in each city during the band's ongoing world tour. HYBE is collaborating with local governments and companies for the project to promote the band's sixth world tour, which began in April and continues until next year. From July 24 to Aug. 9, the hotel is offering "The City Arirang" suites, food and beverages. during the same period, to encourage visitors to check out local tourism hot spots, such as the Brooklyn Bridge and Pier 17. BTS' two concerts in the city are scheduled for Aug. 1 and 2 at MetLife Stadium. “We are delighted to showcase our hospitality industry in New York, the global capital of culture, through collaboration with global content,”

Jul 14, 2026By Ko Dong-hwan
Sono's 33 Hotel becomes go-to spot for BTS concert in NYC
Companies

K-beauty shopping diversifies beyond Olive Young

K-beauty shopping is expanding beyond Olive Young, long the dominant retail destination for both domestic consumers and foreign tourists, to a wider range of platforms. Retail platforms that previously focused on either fashion or food have begun testing their capabilities in beauty, while e-commerce platforms and department stores have introduced separate brands and platforms dedicated to the cosmetics sector. For an industry that has experienced exponential growth worldwide, a more diversified retail landscape is expected to further boost consumption and support its long-term growth. The country's three largest retail platforms are all expanding into the beauty market. Musinsa Beauty, operated by fashion giant Musinsa, is leveraging the company's rapidly expanding offline store network in Korea and overseas to broaden its beauty portfolio and grow its offline presence. On Friday, global luxury makeup brand NARS joined Musinsa Beauty, adding to its luxury lineup that includes MAC and Miu Miu. Musinsa Megastore Seongsu, the company’s flagship store in one of Seoul’s trendiest neighb

Jul 13, 2026By Ko Dong-hwan
K-beauty shopping diversifies beyond Olive Young
Companies

PHOTO Lotte Mart Tay Ninh opens

Lotte Mart's Tay Ninh store in Vietnam is bustling with costumers during its opening day on Thursday (local time). The two-story store, Lotte Mart's first location in the country in three years, features dedicated zones for Korean food, K-beauty products and globally sourced goods. Lotte Mart’s Vietnamese subsidiary began making profits in 2022 and has been seeing year-on-year growth each year since. It posted first quarter sales of 134 billion won ($89 million) and operating profit of 17 billion won. Courtesy of Lotte Mart

Jul 12, 2026By Ko Dong-hwanphoto
[PHOTO] Lotte Mart Tay Ninh opens
Companies

POSCO, KB Kookmin Bank make banking easier for partner firms

Steelmaker POSCO has forged a partnership with KB Kookmin Bank to introduce a supply chain finance service for its partner firms, helping improve cash flow for suppliers amid a prolonged downturn in the steel industry. POSCO President Lee Hee-keun and KB CEO Lee Hwan-ju signed a memorandum of understanding (MOU) on Thursday at the steelmaker's office in Seoul. The new service is a financial system that connects financial institutions with companies participating in a supply chain from production to distribution to increase liquidity throughout the supply chain. It is designed as a win-win model that helps the cash flow of client companies that face difficulties in preparing funds due to delays in payments or a lack of collateral. Under the MOU, POSCO, its client companies and KB will be linked in a structure where the bank takes full charge of collecting sales payments and provides clients with both financial and nonfinancial services, including corporate loan support and environmental, social and governance consulting. The two companies will begin developing a system that integrates KB

Jul 12, 2026By Ko Dong-hwan
POSCO, KB Kookmin Bank make banking easier for partner firms
Companies

Lee calls out IKEA Korea over alleged anti-labor practices

President Lee Jae Myung said Friday that the government will investigate allegations that IKEA Korea demoted an employee and pressured the worker to resign after returning from parental leave, vowing strict action if the allegations are confirmed. "If the allegations are found to be true after a thorough investigation, we will take stern measures in line with international standards," Lee wrote on X, formerly Twitter, as he shared a news report on the case. Lee said some multinational companies regarded as exemplary employers abroad had drawn criticism for adopting opaque management and anti-labor practices in Korea. "That was during a time when the Korean government pursued anti-labor policies and was tainted by corruption," Lee wrote. "Now that Korea is becoming a model society with a government that leads by example, such outdated management practices cannot be tolerated." He added that just as Korean companies should not engage in anti-labor practices overseas, foreign companies should not do so in Korea. The report alleged that IKEA Korea demoted an executive returning from parental

Jul 10, 2026By Ko Dong-hwan
Lee calls out IKEA Korea over alleged anti-labor practices
Companies

L&F emerges as first non-Chinese mass-producer of LFP cathodes

Lithium iron phosphate (LFP) may sound unfamiliar to those not in the rapidly growing field of the global secondary battery market. To L&F President and Chief Finance Officer Yu Sung-hun, the material has become a silver bullet for the company’s next-generation business of manufacturing key components for the batteries, as well as power-saving energy infrastructure that is now experiencing spiking demand worldwide. L&F, based in Daegu with over 20 years of history, has completed everything it needs to start manufacturing LFP for battery cathodes and energy storage systems (ESS) by October. Yu said L&F will be Korea's only LFP manufacturer. In May, the company completed construction on an LFP production plant in Daegu through its wholly owned subsidiary, L&F Plus. The facility will start with an annual production capacity of 30,000 tons, which Yu said will double in the first half of next year. He added that the expansion is a key step in advancing L&F's long-term growth strategy. “LFP is rapidly expanding its application scope to include ESS, industrial mobility and robotics, establ

Jul 10, 2026By Ko Dong-hwan
L&F emerges as first non-Chinese mass-producer of LFP cathodes
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