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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 debuts Buick brand in Korea as show of commitment

General Motors (GM) Korea launched its premium auto brand Buick at an event in Seoul on Wednesday, signaling a stronger commitment to the Korean market amid persistent speculation over the carmaker's possible withdrawal from the country. The launch brings to four the number of brands GM Korea operates in Korea — Chevrolet, Cadillac, GMC and Buick — as the automaker seeks to broaden its customer base. Buick’s first model for the Korean market is the Electra E7 plug-in hybrid SUV, which combines a gasoline engine with an electric motor. “Now we are going to have four brands,” GM Korea CEO Hector Villarreal said during a media showcase. “That means we will be able to appeal to all customer segments, and with that, we are expecting better results.” “Having said that, what is important is the comfort, convenience and choices that we bring to the Korean market. This is what we are aiming for, and with the four brands, we are confident we are on the right path here,” he added. However, Villarreal declined to directly answer questions about whether GM Korea plans to allocate mo

Sep 30, 2026By Lee Min-hyung
GM debuts Buick brand in Korea as show of commitment
Companies

Starlink Wi-Fi raises cost dilemma for LCCs

Korea’s low-cost carriers (LCCs) are caught in a dilemma over rising demand for Starlink in-flight Wi-Fi, as the service carries hefty installation and operating costs for most budget airlines. Korean Air started introducing the service for the first time among local carriers in mid-September, initially focusing on long-haul routes. The flag carrier is expected to face few difficulties in expanding the service across its fleet stably due to the airline’s stronger financial resources than LCCs. Korean Air plans to expand its free Wi-Fi service to most of its fleet by the end of 2027 following its integration with Asiana Airlines. The service will also be introduced to its LCC affiliates. Jin Air plans to begin installing Starlink on its Boeing 737-8 aircraft, while Air Busan and Air Seoul are reviewing suitable aircraft for the system. The three LCCs will be merged into converged Jin Air following the integration of Korean Air and Asiana Airlines. However, other LCCs controlled by smaller parent firms than Korean Air are widely expected to face a tougher cost challenge when introducin

Sep 30, 2026By Lee Min-hyung
Starlink Wi-Fi raises cost dilemma for LCCs
Companies

Coupang's Korean dominance: double-edged sword for US investors

Coupang’s ongoing confrontation with Korean regulators is exposing a structural risk for U.S. investors, as the Nasdaq-listed e-commerce giant remains overwhelmingly reliant on the Korean market, where it is facing mounting regulatory pressure. Coupang makes more than 90 percent of its total sales in Korea, resulting in an unusually high dependence on Korea for a Nasdaq-listed company. That concentration has become particularly significant since a massive data breach disclosed in November 2025 triggered a cascade of government investigations, penalties and legal disputes. Coupang shares closed at $13.88 (18,800 won) on Friday, down 50.7 percent from $28.16 on Nov. 28 last year, the last trading day before the company publicly disclosed the breach. The decline cannot be attributed entirely to the data breach that affected more than 33 million customer accounts, or the subsequent regulatory actions. Coupang swung to a $266 million net loss in the first quarter of 2026 as compensation vouchers and weaker customer demand hurt its results, while its second-quarter earnings also fell short o

Sep 28, 2026By Lee Min-hyung
Coupang's Korean dominance: double-edged sword for US investors
Companies

Korean Air faces maintenance capacity crunch from Asiana acquisition

Korean Air faces a growing maintenance capacity challenge, as its acquisition of Asiana Airlines creates a fleet of more than 230 aircraft at a time when heavy-maintenance slots remain increasingly difficult to secure across Asia. The integrated carrier, scheduled to launch in December, will operate the larger fleet and employ more than 4,000 maintenance workers. It will require more airframe, engine and component maintenance that must be handled internally or secured through outside maintenance, repair and operations (MRO) providers. However, constrained global MRO capacity and a shortage of international heavy-maintenance slots have become a material operational risk to Korean Air. Securing wide-body base-maintenance slots has become particularly difficult across Southeast Asia. Korean Air is responding by expanding its own capabilities. In November last year, the airline and Incheon International Airport Corp. (IIAC) agreed to invest 176 billion won ($130 million) to build a next-generation maintenance hangar at the airport's High-Tech Aviation Complex. The facility will be able to ac

Sep 28, 2026By Lee Min-hyung
Korean Air faces maintenance capacity crunch from Asiana acquisition
Companies

Korea's US investment triggers 2nd wave of orders for ESS, power gear makers

Korea’s planned power infrastructure investment in the United States could generate a second wave of orders for Korean battery and power equipment makers, as surging electricity consumption from artificial intelligence (AI) data centers drives demand for energy storage systems (ESS) and grid equipment. Last week, the Korean government announced its first U.S. strategic investment project, part of a $350 billion investment package. The project worth $22.3 billion is centered on building a natural gas-fired power plant in Encinal, Texas, to meet rising electricity demand from semiconductor plants and AI data centers. The project is also expected to create additional demand for equipment needed to store, distribute and stabilize power, enabling relevant system makers to attract more orders from the world’s largest economy. ESS is one of the largest pillar under the project. Korean battery makers — LG Energy Solution, Samsung SDI and SK On — identify ESS as their major revenue areas while the electric vehicle industry is stuck in a chasm. ESS can store electricity when demand is low

Sep 27, 2026By Lee Min-hyung
Korea's US investment triggers 2nd wave of orders for ESS, power gear makers
Companies

China routes emerge as key revenue source for struggling Korean LCCs

China is emerging as a critical earnings lifeline for Korea’s struggling low-cost carriers (LCCs), offering them access to fast-growing passenger demand and lucrative business traffic as growth in other short-haul markets loses steam. Some 2.13 million passengers traveled between Korea and China in August, surpassing the previous monthly record of about 2.07 million set in August 2016, before the fallout from the deployment of a U.S. missile defense system in Korea severely disrupted bilateral tourism. The August figure was up 27.5 percent from a year earlier and 9.7 percent from July, according to data from the Ministry of Land, Infrastructure and Transport. The rebound comes as Korean airlines are gaining access to some of the most commercially attractive China routes. In the latest allocation of traffic rights, the government gave major LCCs additional slots on routes linking Seoul with Beijing and Shanghai, as well as Guangzhou, Dalian and other Chinese cities. Jeju Air and Eastar Jet each secured seven weekly flights on the Incheon-Beijing route, while Parata Air and Air Premia re

Sep 25, 2026By Lee Min-hyung
China routes emerge as key revenue source for struggling Korean LCCs
Companies

Coupang dispute raises stakes in Korea's $350 bil. US investment talks

Korean regulators’ hardline stance toward Coupang is complicating Seoul’s talks with Washington over the next stages of its planned $350 billion investment in the United States. The latest development came Wednesday when the Seoul High Court rejected Coupang’s request to suspend the effect of a Fair Trade Commission (FTC) decision ordering an on-site inspection of the U.S.-headquartered e-commerce firm’s alleged violations of a local fair transaction act. Coupang had refused to cooperate with the probe, arguing that the FTC failed to provide advance notice. The court ruling allows the FTC to proceed with the investigation. FTC Chairman Ju Biung-ghi has vowed to review the agency’s internal rules to close what he described as loopholes that allow companies to delay or evade investigations through court injunctions. He has also rejected U.S. criticism that the regulator is discriminating against American companies, saying the FTC will continue to enforce Korean law without regard to nationality. The confrontation is particularly sensitive, as Korea and the U.S. work to flesh out t

Sep 25, 2026By Lee Min-hyung
Coupang dispute raises stakes in Korea's $350 bil. US investment talks
Companies

Hyundai Motor poised to rank No. 3 in US quarterly sales, closing in on Ford

Hyundai Motor Group is poised to overtake Ford Motor in quarterly vehicle sales in the United States for the first time, underscoring the growing presence of the Korean automaker in the world’s largest car market. Cox Automotive estimates that the group’s three brands — Hyundai Motor, Kia and Genesis — will sell 511,421 vehicles in the U.S. between July and September, up 6.5 percent from a year earlier. By contrast, Ford is projected to sell 504,172 vehicles, down 7.1 percent, according to the market researcher’s latest forecast. If the estimates hold, Hyundai Motor Group would rank third in quarterly U.S. sales behind General Motors, with 671,706 vehicles, and Toyota Motor, with 642,707. The result would mark the first time the Korean group has surpassed Ford on a quarterly basis. The shift comes as U.S. consumers increasingly favor fuel-efficient vehicles amid elevated gasoline prices. Utilizing the market condition, Hyundai Motor Group has been going all-out to expand hybrid sales in the U.S. However, Ford sells much fewer hybrid or fuel-efficient vehicles there. Cox Automotiv

Sep 25, 2026By Lee Min-hyung
Hyundai Motor poised to rank No. 3 in US quarterly sales, closing in on Ford
Companies

Doosan Robotics' new CEO faces test of turning AI bet into profits

Kwon Young-min, the newly appointed CEO of Doosan Robotics, faces the crucial task of turning the company’s artificial intelligence (AI)-driven robotics strategy into a profitable and sustainable growth engine. The robotics arm of Doosan Group recently appointed Kwon, who has extensive experience in strategy and global operations, as its new top executive. Kwon joined the group’s strategy and planning division in 2000, and served as chief strategy officer of Doosan Bobcat from 2018 to 2020 and has led Doosan Mottrol, a Doosan Bobcat subsidiary, since 2021, before taking on the new role. His appointment comes as Doosan Robotics attempts to reposition itself from a manufacturer of collaborative robots into a provider of intelligent robot solutions combining hardware, software and AI. The company has already laid out a strategy to integrate AI into its robotic arms and software, allowing customers to automate tasks with less programming while optimizing work routes and sequences. The robotics firm has also been developing applications for manufacturing and logistics. Doosan Robotics has

Sep 22, 2026By Lee Min-hyung
Doosan Robotics' new CEO faces test of turning AI bet into profits
Companies

Hyundai Motor Group opens robot training center in US

Hyundai Motor Group has opened its robot training and testing facility for Boston Dynamics’ Atlas humanoid robot as part of efforts to bring the group’s physical artificial intelligence (AI) vision into its global production operations. The carmaker said Tuesday the Robotics Metaplant Application Center (RMAC) has started operations at Hyundai Motor Group Metaplant America (HMGMA) in the state of Georgia in the United States. The facility will serve as a major testbed where Atlas is trained in an environment designed to replicate actual automotive production sites before the robots are deployed on factory floors. Atlas is being trained to perform a range of manufacturing-related tasks, including preparing materials for logistics operations and sorting automotive parts according to their assembly sequence. The training is intended to help the humanoid robot handle increasingly sophisticated work in real-world production environments. The facility is expected to play a key role in Hyundai Motor Group’s plan to deploy about 25,000 Atlas robots across its Hyundai Motor and Kia producti

Sep 22, 2026By Lee Min-hyung
Hyundai Motor Group opens robot training center in US
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