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Lee Gyu-lee

Korea Times Business Reporter

Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.

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Companies

Hall of Fame unveiled for LG Awards winners

LG Group unveiled a new Hall of Fame honoring LG Awards winners during this year's awards ceremony in Icheon, Gyeonggi Province, on Wednesday. The event, now in its seventh year, honors innovative products and services that have transformed customers’ lives. Since its launch in 2019, it has recognized a total of 492 teams and more than 4,000 individual awardees. This year's edition had about 500 people in attendance, including LG Group Chairman Koo Kwang-mo, its executives, consumer representatives and award winners. This year, a total of 87 teams and 680 individuals were honored, including three teams that received the “Customer Impression Grand Award." The award recognizes achievements based on criteria such as exceeding consumer expectations, making meaningful changes in consumers’ lives and demonstrating potential for innovations to become standard practices or processes. The winners are selected through a thorough evaluation from both consumers and employees, collecting opinions from a range of people, from experts to foreigners and housewives to younger generations. An LG Elec

Apr 10, 2025By Lee Gyu-lee
Hall of Fame unveiled for LG Awards winners
Tech & Science

Tech meets K-pop: KAIST, Galaxy Corp to launch AI enter-tech research center

The Korea Advanced Institute of Science and Technology (KAIST) is teaming up with entertainment technology company Galaxy Corp., home to K-pop star G-Dragon, to set up an artificial intelligence entertainment tech research center. The school said it held a launch ceremony for the project at its campus in Daejeon Wednesday. The collaboration aims to integrate technology with K-culture to develop creative cultural content and expand the future of Korea's entertainment industry. The center is set to officially launch in the third quarter of this year and is expected to be a key institution for platform development and content innovation, focusing on research in technological convergence including AI and robotics. "We will combine KAIST's cutting-edge AI technology with Galaxy Corp.'s fandom platform to provide fans around the world with an unprecedented entertainment experience," Galaxy Corp CEO Choi Yong-ho said. "The convergence of AI enter-tech is the beginning of an innovation that will enrich human life." The research center is the first outcome of the school and entertainment agency

Apr 10, 2025By Lee Gyu-lee
Tech meets K-pop: KAIST, Galaxy Corp to launch AI enter-tech research center
Tech & Science

KOTRA helps firms enter China's growing market for older adult care

The Korea Trade-Investment Promotion Agency (KOTRA) is hosting the Korea-China Anti-aging Medical Plaza in Chengdu, China, to support Korean companies seeking to enter China’s rapidly growing medical market for older adults. The two-day event kicked off on Wednesday and is jointly organized with the South Gyeongsang Provincial Government. Ten Korean companies are participating in forums and business consultations, showcasing smart health devices, high-frequency stimulators, ultrasound therapy devices, anti-aging beauty products and solutions for cognitive improvement, as well as cosmetics and health supplements. "As China's older adult industry grows swiftly, demand from older consumers for medical beauty and care services is also increasing," said Hwang Jae-won, head of KOTRA's China regional headquarters. "We will actively support Korean companies entering major cities like Beijing, Shanghai, Guangzhou and Chengdu in China." According to China’s National Bureau of Statistics, its population aged 65 and over reached approximately 220 million in 2023, accounting for 15.4 percent of th

Apr 9, 2025By Lee Gyu-lee
KOTRA helps firms enter China's growing market for older adult care
Tech & Science

Telecom firms forecast over $682 mil. in combined operating profit

Major mobile carriers — SK Telecom, KT and LG Uplus — are expected to post a combined operating profit of over 1 trillion won ($682.6 million) in the first quarter of this year, signaling a promising outlook for overall growth throughout the year. According to the market tracker FnGuide, the three firms' total first-quarter revenue is estimated at 15.22 trillion won, with combined operating profits of 1.544 trillion won — marking year-on-year increases of 3.5 percent and 25 percent, respectively. The projected achievement comes as the firms have shifted focus to artificial intelligence (AI) investments and service expansion after undergoing workforce restructuring and system upgrades last year. The firms were also able to cut expenses with the government abolishing the Mobile Device Distribution Improvement Act last July, which helped reduce market overheating when new products are launched and the completion of joint 5G network construction. KT is expected to see the highest operating profit at 775.2 billion won, grossing about 7.055 trillion won in revenue. KT generated profits wi

Apr 8, 2025By Lee Gyu-lee
Telecom firms forecast over $682 mil. in combined operating profit
Tech & Science

Korea advised to leverage network fee issue against tariff threats

U.S. President Donald Trump’s unprecedented move to impose a 25-percent "reciprocal" tariff has rattled Korea, prompting the country to explore every possible measure to counter the trade penalties. Amid growing calls for Korea to adopt a more strategic approach in response to Washington’s tariff threats, one potential bargaining chip gaining attention is the government’s stance on the proposed network usage fee bill. The bill would require global content providers to pay fees to local internet service providers, potentially serving as leverage in negotiations over other vulnerable sectors. A recent report by the U.S. Trade Representative flagged the network usage fee issue as a barrier to electronic commerce and digital trade in Korea. The network usage fees issue has been a hot potato in Korea over the past few years, as the global content platforms have garnered an increasing number of users, especially during the COVID-19 pandemic. Stressing that the proposed bill is similar to the European Union's Digital Networks Act, the Korean telecommunications industry says that it aims t

Apr 8, 2025By Lee Gyu-lee
Korea advised to leverage network fee issue against tariff threats
Companies

Samsung Bioepis' bone loss biosimilar gains domestic approval

Samsung Bioepis said Sunday its biosimilar treatment for osteoporosis and bone loss has won approval from Korea's Ministry of Food and Drug Safety. Obodence is a biosimilar for Prolia, the blockbuster osteoporosis drug developed by U.S. biopharmaceutical firm Amgen, commonly used to treat bone loss in patients with prostate cancer or breast cancer. Prolia posted approximately 6.5 trillion won ($4.374 billion) of revenue globally last year, and the Korean market for the drug is valued at 174.9 billion won, according to market tracker IQVIA. In February, Samsung Bioepis acquired approvals for its Prolia biosimilar in the U.S. and Europe, under the names Ospomyv and Obodence, respectively. With the latest approval, the company can expand treatment options for patients with bone diseases in Korea, Samsung Bioepis said. "With the approval of Obodence, we have expanded opportunities to treat local bone disease patients at reasonable costs,” said Jung Byoung-in, head of Samsung Bioepis' regulatory affairs. “And we will continue to strive to create social value, such as improving patient ben

Apr 6, 2025By Lee Gyu-lee
Samsung Bioepis' bone loss biosimilar gains domestic approval
Companies

LG Innotek, KAIST join hands to develop future technologies

LG Innotek is partnering up with the Korea Advanced Institute of Science and Technology (KAIST) to work toward developing future technologies and fostering talent, the company said Thursday. According to the electronics component affiliate of LG Group, it signed a memorandum of understanding (MOU) with the university to collaborate on research in areas such as optics, semiconductors, mobility and robotics. The partnership will also focus on securing talent in these fields over the next three years. "This cooperation will be an important driving force for LG Innotek to expand its business portfolio from mobile to semiconductors, mobility and robotics,” CEO Moon Hyuk-soo said. The agenda for this collaboration includes developing technologies for next-generation imaging, detecting microdefects on a substrate, autonomous vehicle sensors and control systems for robotic components. LG Innotek possesses fundamental technologies in substrates and sensing and control systems, as well as experience in optics and substrate businesses. Meanwhile, KAIST is recognized for its expertise and research

Apr 3, 2025By Lee Gyu-lee
LG Innotek, KAIST join hands to develop future technologies
Companies

Aseptic carton water and recycling initiatives drive change

As industries worldwide intensify their sustainability efforts, the hospitality sector is embracing environmentally conscious changes at a rapid pace. Last year, the government enforced regulations prohibiting hotels and lodgings with 50 or more rooms from offering complimentary single-use amenities to reduce plastic waste. In response, many hotels have transitioned to reusable alternatives, implemented energy-saving systems and adopted sustainable management practices. Among these efforts, reducing plastic consumption has become a key priority, leading to significant changes in how hotels provide drinking water. One of the most notable shifts has been replacing plastic water bottles with aseptic cartons. A leading example is Four Seasons Hotel Seoul, which has replaced plastic water bottles with water in aseptic cartons labeled Deep Sea Water — an exclusive version of Deep Water by iN Natural Dream — across its guest rooms, banquet halls, spa and fitness center. The initiative aligns with the hotel's long-term sustainability strategy. This shift is part of a broader global movement,

Apr 3, 2025By Lee Gyu-lee
Aseptic carton water and recycling initiatives drive change
Business

Philippine Business Forum to showcase investment opportunities in emerging sectors

The Philippine Board of Investments (BOI) and the Philippine Trade and Investment Center in Seoul will host the Philippine Business Forum on Monday, bringing together top government officials, industry leaders and stakeholders from both the Philippines and Korea. The event will focus on exploring investment opportunities in emerging sectors. Organized by the Philippine Embassy in Korea, the Office of the Special Assistant to the President for Investment and Economic Affairs and The Korea Times, the forum will provide vital insights into the Philippines' evolving business environment. Key sectors highlighted include electronics, semiconductors, clean energy, electric vehicles, mineral processing, high-tech farming and logistics. The forum taking place at the Korea Chamber of Commerce and Industry in Seoul will feature high-level business meetings and investment opportunities in priority sectors. It will also include discussions on strategic policy directions, focusing on the Philippines' newly signed CREATE MORE Act, a legislation that aims to increase investment incentives, foster innova

Apr 2, 2025By Lee Gyu-lee
Philippine Business Forum to showcase investment opportunities in emerging sectors
Companies

GS E&C completes Southeast Asia's first railway test center

GS Engineering & Construction (E&C) has completed the Singapore Rail Test Centre (SRTC) in western Singapore, which is Southeast Asia's first and the world's 10th comprehensive rail system and train testing facility. The company marked the facility's opening with a ceremony on Friday, inviting its infrastructure division head, Cho Sung-han, and representatives from Singapore’s Land Transportation Authority (LTA). "Through the successful completion of this challenging project, we have gained recognition for our technical capabilities as a global railway construction company," the company said in a statement. "We will strive to enhance the status of Korean construction companies in the global market based on our technical capabilities with overseas construction, as proven in Singapore." The newly completed SRTC includes three new test tracks with a total length of 16.9 kilometers on the 540,000-square-meter site. The center will integrate different power supply methods, vehicle specifications and systems across Singapore's urban railways into one site to test durability, performance, com

Apr 2, 2025By Lee Gyu-lee
GS E&C completes Southeast Asia's first railway test center
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