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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.

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Companies

GM Korea's multi-brand strategy falls short on localization

General Motors (GM) Korea’s decision to bring to market its first Buick model — imported entirely from China — is putting its multi-brand strategy at odds with its commitment to local production, experts and industry officials said Tuesday. Last week, the carmaker unveiled Buick, positioning the premium brand as a key pillar of the strategy to offer consumers a wider range of products, along with its other brands, such as GMC, Cadillac and Chevrolet. But since Buick’s first model, the Electra E7 plug-in hybrid electric vehicle (PHEV), will be imported from China, the latest decision has also renewed questions about GM Korea’s long-term commitment to domestic production. In March, GM Korea announced a $600 million (806 billion won) investment plan to expand its production infrastructure. At a media briefing, GM Korea CEO Hector Villarreal highlighted the benefits of operating multiple brands and providing customers with greater choice. But when asked whether Buick or other new models could eventually be produced in Korea, Villarreal did not offer a specific commitment. Kim Pil-so

Oct 7, 2026By Lee Min-hyung
GM Korea's multi-brand strategy falls short on localization
Companies

Samsung Electro-Mechanics lands $210 mil. MLCC supply deal

Samsung Electro-Mechanics has secured a $210.24 million (282 billion won) order to supply multilayer ceramic capacitors (MLCCs) to a global company, adding to a string of large deals driven by growing demand for artificial intelligence (AI) server components, the company said Tuesday in a regulatory filing. The company signed the one-year supply contract, which runs from Jan. 1 through Dec. 31, 2027. The customer was not disclosed due to a confidentiality agreement. The latest deal represents 2.5 percent of Samsung Electro-Mechanics’ total sales last year. It brings the value of the company’s major supply contracts announced this year to nearly 4 trillion won, which includes contracts not subject to disclosure. MLCCs regulate electrical current and reduce electromagnetic interference in electronic circuits. AI servers require more MLCCs than conventional servers and demand for the products goes higher under high-temperature and high-voltage conditions. The latest contract comes amid a series of large orders from global customers as AI data center investment accelerates. In May, the co

Oct 6, 2026By Lee Min-hyung
Samsung Electro-Mechanics lands $210 mil. MLCC supply deal
Companies

Hyundai Glovis, LGL explore SMR-powered car carrier route

Hyundai Glovis said Tuesday it has signed a memorandum of understanding with U.S.-based Liberty Global Logistics (LGL) to jointly explore operating a small modular reactor (SMR)-powered pure car and truck carrier (PCTC) between Korea and the United States. LGL specializes in transporting automobiles, heavy equipment, breakbulk and project cargo and is a major U.S. Department of Defense contractor for government cargo. The agreement was signed Sept. 30 at LGL's headquarters in Jericho, New York, with Kim Tae-woo, executive vice president of Hyundai Glovis' Logistics Business Division, and David Minetti, president of LGL, among the officials present from both companies. Hyundai Glovis will assess port conditions, regulations and operational requirements in Korea, while LGL will review the U.S. regulatory and operating environment. The companies will also study vessel development and construction, flag-state and classification requirements, and commercialization strategies. An SMR-powered vessel could enable long-term operations with minimal carbon emissions and without frequent refueling.

Oct 6, 2026By Lee Min-hyung
Hyundai Glovis, LGL explore SMR-powered car carrier route
Companies

PHOTO Hyundai brings hands-on science to Seoul

Visitors experience the Chain Reaction exhibit at Hyundai Motor Group’s "Have Fun with Science" pop-up exhibition at Hyundai Motorstudio Seoul, Tuesday. The exhibition features 12 interactive exhibits designed to gather visitor feedback and incorporate the hands-on science museum concept of San Francisco’s Exploratorium into content development for the group’s interactive science museum, set to open in 2032. Courtesy of Hyundai Motor Group

Oct 6, 2026By Lee Min-hyungphoto
[PHOTO] Hyundai brings hands-on science to Seoul
Companies

Hyundai Motor's sales slump deepens beyond strike fallout

Hyundai Motor’s push to reverse its sales decline comes under a tougher test in the fourth quarter, as its long-time rivals and emerging players show greater resilience. The carmaker sold 49,022 vehicles in Korea last month, down 25.7 percent from a year earlier. The company attributed the decline largely to fewer operating days caused by the Chuseok holiday and pent-up demand ahead of its new strategic model launches. It also pointed to the lingering effects of production disruptions from the 111-day labor dispute that ended in August. But the scale of Hyundai’s local sales decline stands out, as Kia fared much better with a sales fall of 6.7 percent during the same period. The contrast is even sharper when looking at overall performance, with Hyundai Motor reporting a sales drop of 16 percent here and abroad. The carmaker also reported an overseas sales fall of 13.9 percent. Kia’s global sales rose 5.1 percent in September from the previous year, with overseas sales increasing 7.5 percent. The automaker also posted a record third-quarter sales figure of more than 846,000 vehicles.

Oct 2, 2026By Lee Min-hyung
Hyundai Motor's sales slump deepens beyond strike fallout
Companies

Coupang feared to become 1st target for FTC's investigative task force

Coupang is facing the prospect of even tougher regulatory scrutiny, as the Fair Trade Commission (FTC) has launched a special investigative task force to investigate complex violations involving dominant platforms, in what appears to be a move targeting the U.S.-listed e-commerce giant. The FTC launched its 40-member Key Investigation Planning Bureau on Thursday, upgrading its existing investigation team to a bureau-level organization dedicated to major cases involving platforms, large business groups and serious violations affecting consumers and small businesses. The new bureau comes as Coupang has emerged as one of the most persistent subjects of FTC scrutiny. With the company increasingly challenging the watchdog’s investigations and actions, their disputes expand across search rankings, supplier transactions, discount costs and its food delivery business. The FTC has not identified its first target, and there is no confirmation that Coupang will be assigned as the first investigation target from the task force. But the company’s expanding confrontation with the regulator means t

Oct 2, 2026By Lee Min-hyung
Coupang feared to become 1st target for FTC's investigative task force
Companies

INTERVIEW AMCHAM optimistic over Korea's LNG investment in US

James Kim, chairman of the American Chamber of Commerce in Korea (AMCHAM), is welcoming U.S. President Donald Trump’s announcement on Korea’s $54 billion (73.3 trillion won) investment in the Alaska liquefied natural gas (LNG) project, describing it a sign of progress in bilateral economic ties, but called for the two governments to resolve key commercial and legal details. “I see a shared interest in expanding energy cooperation, even if the two governments are emphasizing different aspects of the project,” Kim said in an interview with The Korea Times on Thursday. “A project of this scale requires careful consideration of investment costs, energy prices, commercial viability and participation terms,” he said, adding that questions surrounding the timing and coordination of the announcement are matters for the two governments to address. The contrasting positions have drawn attention because Washington presented the $54 billion figure as a Korean investment commitment, while Seoul has yet to determine details on the scale, structure or timing of any investment. From a busine

Oct 1, 2026By Lee Min-hyung
[INTERVIEW] AMCHAM optimistic over Korea's LNG investment in US
Companies

Trump-backed Alaska LNG revival still faces viability questions in Korea

With a discrepancy emerging between Korea and the U.S. over a proposed investment of more than $50 billion in the Alaska liquefied natural gas (LNG) project, questions are growing over whether the project can generate sufficient commercial returns for Seoul. U.S. Secretary of Commerce Howard Lutnick said Wednesday (local time) Korea would invest about $54 billion (73.4 trillion won) in the Alaska LNG project, as part of Seoul's $200 billion investment package to Washington. The White House presented the project as a committed investment, while Korea has maintained that participation remains subject to further review of its “commercial reasonableness.” The gap is significant because Alaska LNG has spent more than a decade struggling to demonstrate that it can compete economically with LNG projects closer to major markets. The project would transport natural gas from Alaska’s North Slope through an approximately 1,300-kilometer pipeline to Nikiski, where it would be liquefied and exported primarily to Asian markets. Glenfarne Group owns 75 percent of the project alongside the state-ow

Oct 1, 2026By Lee Min-hyung
Trump-backed Alaska LNG revival still faces viability questions in Korea
Companies

AMCHAM, KCCI urge Korean firms to seize US opportunities

Korean companies are advised to expand their operations in the United States, as bilateral economic ties increasingly extend beyond trade to investment, technology and supply-chain resilience, the American Chamber of Commerce in Korea (AMCHAM) said Wednesday. The U.S. business lobby and the Korea Chamber of Commerce and Industry (KCCI) discussed opportunities and challenges of Korean firms when they expand investment and operations in America during the eighth annual Doing Business in the U.S. Seminar. The seminar was held as part of a special program marking the 250th anniversary of U.S. independence. AMCHAM Chairman James Kim said the economic relationship between the two countries is increasingly driven by the aforementioned sectors, rather than trade alone. “The next chapter of the U.S.-Korea economic partnership will be defined not simply by how much we trade, but by how much we build, invest, innovate and grow together,” Kim said. KCCI Executive Vice Chairman Kim Jeong-il emphasized the need for Korean companies to understand local regulations and business conditions, while buil

Oct 1, 2026By Lee Min-hyung
AMCHAM, KCCI urge Korean firms to seize US opportunities
Companies

Beyond sponsorship, companies provide technology to sports

Behind Korea’s medal-winning athletes are companies that have been in the sports realm for decades, turning sponsorship into technology, training and long-term support. The approach reflects a major shift in how conglomerates are shaping their support for athletics: Sponsorship is increasingly being used to build a long-term relationship with a sport, rather than simply gaining exposure around major competitions. At the 2026 Aichi-Nagoya Asian Games, Korean fencing once again showed the value of that commitment. The national team won 10 medals across men’s and women’s sabre, epee and foil, including four golds. SK Telecom has been backing Korean fencing for 24 years, but its role has evolved far beyond financial support. As the Korean Fencing Federation’s lead sponsor since 2003, the telecom operator has invested 36 billion won ($26.5 million) in the sport, supporting training equipment, overseas competitions and international events. This year, it added artificial intelligence (AI) to that partnership. The Fencing AI Nexus system, developed by the company, uses computer vision an

Oct 1, 2026By Lee Min-hyung
Beyond sponsorship, companies provide technology to sports
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