my timesThe Korea Times
mhlee

Lee Min-hyung

Korea Times Business Reporter

Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.

Go to Email

Read more

Companies

Hanwha Ocean steps up push into global warship market

Hanwha Ocean is bolstering its push for its warship business overseas, targeting strategic markets across Europe, Southeast Asia and Latin America as it moves to strengthen its position in the global naval defense industry. The shipbuilder is leveraging its submarine design and construction expertise, surface warship experience and large-scale production capacity to pursue new export opportunities. Hanwha Ocean is the only Korean company to have participated in all three Korean Destroyer eXperimental (KDX) programs and all multi-phase Jangbogo submarine development projects. The KDX program is an initiative by the Republic of Korea Navy to modernize its destroyer fleet. The company's overseas naval business builds on its previous export record and a growing pipeline of potential contracts. Under its former name, Daewoo Shipbuilding & Marine Engineering, Hanwha Ocean accumulated overseas submarine project experience through programs in Indonesia. It has also delivered frigates to Bangladesh and Thailand, as well as naval support vessels to Britain and Norway. More recently, the company was

Oct 27, 2026By Lee Min-hyung
Hanwha Ocean steps up push into global warship market
Companies

Who is Tami Overby?

Tami Overby is a veteran U.S. business executive and trade advocate who played a key role in strengthening economic ties between Korea and the United States, including efforts to advance the Korea-U.S. Free Trade Agreement (KORUS FTA) and expand travel access for Korean citizens. During her tenure as president and CEO of the American Chamber of Commerce in Korea (AMCHAM) from 1995 to 2009, Overby was directly involved in bilateral trade discussions and advocated policies aimed at improving market access and business conditions for U.S. companies operating in Korea. In 2009, former President Lee Myung-bak personally presented Overby with the Silver Tower Order of Industrial Service Merit in recognition of her contributions to attracting foreign investment to Korea over more than two decades and advancing the bilateral trade pact. The honor reflected her longstanding efforts to promote Korea as an investment destination for American businesses and deepen commercial ties between the two countries. She also contributed to efforts that led to Korea's inclusion in the U.S. visa waiver program,

Oct 26, 2026By Lee Min-hyung
Who is Tami Overby?
Companies

COVER STORY Coupang issue becomes bellwether for Korea's treatment of US firms: ex-AMCHAM chief

Korea risks damaging its economic ties with the United States, as perceived discrimination against American companies, most prominently Coupang, fuels a growing backlash in Washington that U.S. firms are being unfairly targeted, said Tami Overby, a former president of the American Chamber of Commerce in Korea (AMCHAM). “Many American observers increasingly see Korea's treatment of Coupang as a bellwether for how it treats successful American firms operating in its market,” Overby said Monday in a written interview with The Korea Times. After nearly four decades of observing Korea-U.S. economic ties, Overby said Washington is increasingly doubting whether Seoul remains committed to the principle of nondiscriminatory treatment for American businesses. She cautioned that mounting regulatory disputes could erode the trust underpinning bilateral economic cooperation at a critical time when the two countries are negotiating major investment commitments and U.S. tariffs. “Credibility depends not on statements but on outcomes,” she said, arguing that Korean authorities must demonstrate t

Oct 26, 2026By Lee Min-hyung
[COVER STORY] Coupang issue becomes bellwether for Korea's treatment of US firms: ex-AMCHAM chief
Companies

Korean Air breach exposes blind spot in airline cybersecurity

A recent data breach involving Korean Air and Asiana Airlines demonstrates the aviation industry’s structural vulnerability to cyberattacks targeting third-party IT providers. Carriers depend on external IT system operators to manage critical operations, as they have to share passenger booking and ticketing data with external partners for real-time global operation. Last week, Korean Air and Asiana said customer reservation information had been leaked through Amadeus IT Group, a global aviation technology provider that operates reservation and ticketing systems for airlines worldwide. The two carriers said Amadeus had notified them of the incident on Tuesday. The breach is believed to have involved unauthorized access using login credentials assigned to an account in Amadeus' system. The estimated incident window spans August 2023 to last month, although investigators have yet to establish the exact timing. Korean Air confirmed that some customers' booking reference numbers were among the exposed information, while the full scope of the leak and the number of affected customers remaine

Oct 25, 2026By Lee Min-hyung
Korean Air breach exposes blind spot in airline cybersecurity
Companies

Lotte steps up recruitment of Vietnamese workers

Lotte Group stepped up efforts to recruit local talent in Vietnam with a three-day campus recruitment event in Hanoi that drew more than 3,000 job seekers, the retailer said Sunday. The group held its 2026 Lotte Global Campus Recruiting in Vietnam for three days starting Wednesday at five universities in the Vietnamese capital, including Vietnam National University and Hanoi University of Science and Technology. Six Lotte affiliates operating in Vietnam — Lotte Department Store, Lotte Hotel, Lotte World, Lotte Innovate, Lotte Property & Development and Daehong Communications — took part in the event, offering recruitment briefings, career consultations and one-on-one mock interviews. Recruiters and current employees introduced their companies and job openings. They also shared practical advice on the application process and their work experiences. The universities were selected based on each affiliate’s hiring needs and the academic disciplines offered by the institutions. Lotte currently employs more than 10,000 local workers in Vietnam and plans to hire around 500 additional empl

Oct 25, 2026By Lee Min-hyung
Lotte steps up recruitment of Vietnamese workers
Others

Chung Mong-Koo Foundation's pianists sweep international awards

Three young Korean pianists — supported by Hyundai Motor Chung Mong-Koo Foundation — have earned international recognition this year, winning top prizes at major competitions in Europe and the United States. Shin Young-ho, 19, placed second in the piano category at the 76th Giovanni Battista Viotti International Music Competition, which concluded in Vercelli, Italy, on Oct. 17. Lee Jeong-woo, 18, won first prize at the 20th George Enescu International Competition in Bucharest, Romania, in September, while Lee Ju-eon, 15, claimed prizes at three international piano competitions in the United States during the first half of the year. The achievements highlight the progress of a new generation of pianists who have received sustained support from the foundation, as they pursue international careers. Shin continued his strong performance on the international competition circuit, following a second-place finish at the Dublin International Piano Competition and a special prize at the Pancho Vladigerov International Piano Competition, both held in 2025. Selected as a foundation scholarship re

Oct 23, 2026By Lee Min-hyung
Chung Mong-Koo Foundation's pianists sweep international awards
Companies

Hyundai Mobis to test viability of local auto chips

Hyundai Mobis will focus on verifying the real-world applicability and commercial viability of locally developed automotive semiconductors this year, as the industry seeks to reduce reliance on overseas suppliers amid the shift toward software-defined vehicles (SDVs), the auto parts maker said Wednesday. The company identified 19 joint system semiconductor projects with Korean companies over the past year, with development underway on 13 chips. Nine of the 13 have designated target vehicle models, bringing the projects closer to real-world application. Hyundai Mobis unveiled the progress at its second Auto Semicon Korea forum in Seongnam, Gyeonggi Province. Participation expanded to 53 companies and institutions this year, up from 27 last year, as collaboration widened to include software, chip design intellectual property, packaging, testing and functional safety. The forum was launched last year to strengthen Korea’s automotive semiconductor supply chain by connecting automakers, parts suppliers, chip designers, foundries and research institutions. For this year’s event, key partic

Oct 21, 2026By Lee Min-hyung
Hyundai Mobis to test viability of local auto chips
Companies

Hyundai Motor, Kia to launch Level 4 autonomous truck trials

Hyundai Motor and Kia will test Level 4 autonomous heavy-duty trucks on real-world logistics routes next year, working with domestic self-driving software companies to develop technology for commercial deployment, the carmakers said Tuesday. The automakers will develop two test vehicles — a hydrogen fuel cell-powered Xcient truck and a conventional Xcient truck — and provide them to partners early next year. Both will feature customized control units and vehicle interfaces designed to integrate autonomous-driving systems. The trials will continue through the end of next year along two routes: a roughly 100-kilometer route combining highways and urban roads, and a 400-kilometer route focused primarily on highway driving. Hyundai Motor and Kia signed an agreement Tuesday with Hyundai Mobis, Hyundai Glovis and two autonomous-driving software developers, Mars Auto and RideFlux, to conduct the tests using the Hyundai Motor Group’s existing logistics network. Mars Auto and RideFlux will install their respective autonomous-driving systems in the trucks, while Hyundai Mobis and Hyundai Glo

Oct 20, 2026By Lee Min-hyung
Hyundai Motor, Kia to launch Level 4 autonomous truck trials
Companies

Mercedes-Benz Korea turns to affordable CLA EV amid falling sales

Mercedes-Benz Korea is betting that a more affordable all-electric CLA sedan will revive its flagging electric vehicle (EV) business in the country, as Tesla and Chinese rivals gain ground in one of Asia’s most competitive imported-car markets. The German luxury automaker introduced the all-new electric CLA and GLC on Monday, with the entry-level CLA coupe-type sedan priced from 52.9 million won ($40,000). The pricing marks a major shift from Mercedes-Benz’s traditional premium positioning, placing its new electric sedan closer to mass-market alternatives, including Tesla’s Model Y, which starts at 49.99 million won in Korea. The Model Y was the country’s best-selling vehicle last month, largely due to its competitive pricing. The launch of the price-competitive CLA comes as Mercedes-Benz struggles to rev up sluggish EV sales. The company’s electric car lineup, previously a major source of growth, has lost momentum following the August 2024 fire involving a Mercedes-Benz EQE sedan in an underground parking garage in Incheon. Mercedes-Benz’s EV sales in Korea reached a peak of

Oct 20, 2026By Lee Min-hyung
Mercedes-Benz Korea turns to affordable CLA EV amid falling sales
Companies

FTC's costly crackdown on conglomerates generates little return

The Fair Trade Commission’s (FTC) increasingly aggressive crackdown on major conglomerates is generating a costly cycle with little tangible return, as the watchdog has been forced to refund billions of won in fines overturned by courts. The watchdog has returned nearly 290 billion won ($216.7 million) to companies since 2022 after administrative court rulings overturned its sanctions. The figures raise questions about whether the regulator’s tougher enforcement produces lasting results or simply creates more legal and financial burdens for both businesses and taxpayers. The latest figures offer little reassurance. For the first nine months combined this year, the FTC returned 23 billion won in fines and associated payments, with 99.7 percent of the amount attributable to sanctions overturned in whole or in part through administrative litigation, according to data submitted to Rep. Choi Eun-seok of the main opposition People Power Party. But the regulator is moving in the opposite direction. Since President Lee Jae Myung took office last year, the government has pushed to strengthen

Oct 18, 2026By Lee Min-hyung
FTC's costly crackdown on conglomerates generates little return
previous page
12345
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.