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Nam Hyun-woo

Korea Times Business Reporter

Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.

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Tech & Science

OpenAI includes Korea in cybersecurity program

OpenAI will include the Korean government, public institutions and companies in its cybersecurity program, allowing access to its latest cybersecurity artificial intelligence (AI) models, its chief strategy officer (CSO) said Wednesday. “We believe AI can become a powerful tool for cyber defenders, helping them identify vulnerabilities faster, respond to threats more effectively and make software and systems more secure,” OpenAI CSO Jason Kwon said during a press conference in Seoul. “We want OpenAI to become a trusted partner to Korea.” In particular, Korea will participate in OpenAI’s Daybreak cybersecurity initiative. Under the initiative, Korean institutions will gain Governmental Trusted Access for Cyber (GTAC), a restricted-access tier that allows verified cybersecurity professionals to utilize specialized AI models to test cybersecurity vulnerability. Kwon said OpenAI will expand the TAC program to private companies in Korea that are involved in the country’s key industries. According to OpenAI, Korea’s participation in GTAC marks the first case in Asia alongside Ja

May 27, 2026By Nam Hyun-woo
OpenAI includes Korea in cybersecurity program
Companies

Samsung Electronics bonus agreement approved, strike averted

More than 70 percent of Samsung Electronics’ labor union members on Wednesday approved a tentative wage agreement reached between union leaders and management, bringing a monthslong dispute over performance bonuses to a close, at least for now. According to the unions, 55,333 of the 57,332 eligible members of the Samsung Electronics Labor Union (SELU) participated in the vote, with 44,606 voting in favor of the agreement, for an approval rate of 80.6 percent. At the National Samsung Electronics Union (NSEU), 7,283 out of 8,261 members voted, with 1,536 approving the agreement, translating to an approval rate of 21.1 percent. The combined approval rate stood at 73.7 percent, surpassing the majority threshold required for ratification. The tentative agreement was signed on May 20, just hours before the unions were set to stage a general strike the following day. Voting on the agreement was conducted from May 22-27. “Though there were some disappointments during the wage negotiations, I believe labor and management reached a meaningful agreement after continuing dialogue and discussion

May 27, 2026By Nam Hyun-woo
Samsung Electronics bonus agreement approved, strike averted
Companies

Dispute deepens between Samsung Electronics labor unions

The dispute between labor unions at Samsung Electronics is deepening over a tentative wage agreement reached between management and a semiconductor union last week, with employees from the company’s device division seeking a court injunction to block the agreement from being approved through an ongoing vote. With more than 90 percent of eligible employees having voted as of 10 a.m. Tuesday, 24 hours before the voting closes, the agreement, which allows large bonuses only for the company’s chip division employees, appears likely to pass, given that semiconductor employees account for the majority of voters. However, the outcome of the injunction request could still become a variable. Samsung Electronics Company Union (SECU), the company’s third-largest labor union, filed the injunction request with Suwon District Court on Tuesday, asking the court to halt the voting process. The majority of SECU members are from the company’s Device Experience (DX) division, which covers mobile, home appliance and other network devices. “The representative union turned a blind eye to the equali

May 26, 2026By Nam Hyun-woo
Dispute deepens between Samsung Electronics labor unions
Companies

Hyundai Rotem wins 2 state-backed R&D projects for AI robotics

Hyundai Rotem has secured two state-backed research and development projects aimed at advancing unmanned robot technologies powered by physical artificial intelligence (AI), as it works to strengthen future battlefield capabilities. The company said Tuesday it has been selected to lead two national initiatives. The first, commissioned by the Ministry of Trade, Industry and Resources, focuses on developing an integrated control system for multiple types of robots that can be operated using natural-language commands. The second, commissioned by the Agency for Defense Development (ADD), involves building a physical AI-based simulator and a modular robotic platform. The industry ministry-led project aims to create software that allows operators to control different unmanned robots through spoken or written instructions. Today, unmanned systems are usually operated one by one using remote controls or manually input commands. The new system is designed to let a few operators manage several different platforms at once. Hyundai Rotem plans to apply the technology to its HR-Sherpa unmanned groun

May 26, 2026By Nam Hyun-woo
Hyundai Rotem wins 2 state-backed R&D projects for AI robotics
Companies

SK Bioscience to license vaccine technology to Colombia

SK Bioscience will license its vaccine technology to Colombia’s state-owned pharmaceutical firm VECOL and cooperate in establishing a local manufacturing site, as part of the Latin American country’s national vaccine localization initiative, the Korean drug developer said Tuesday. SK Bioscience signed an agreement detailing the partnership with VECOL, which is jointly leading the state initiative with Colombia’s Ministry of Health and Social Protection and the National Health Institute. Under the initiative, Colombia will invest $260 million over the next 10 years to strengthen national vaccine self-sufficiency and public health preparedness. VECOL is the lead entity responsible for overall project execution, while SK Bioscience will participate by licensing its vaccine and providing the technology and expertise required for manufacturing facility development and other operational know-how. As the initial product for the partnership, SK Bioscience will license out SKYVaricella, its proprietary varicella vaccine. The company said it plans to establish a local manufacturing system w

May 26, 2026By Nam Hyun-woo
SK Bioscience to license vaccine technology to Colombia
Tech & Science

LG Group enjoys rosy market outlook for robot business

LG Group companies are enjoying a rosy market outlook as expectations surrounding their robotics business plans continue to drive up stock prices. The stock price of LG Electronics closed at 237,000 won ($157) on Friday, up 68.2 percent from 140,900 won on April 30. Its market capitalization stood at 38.6 trillion won, ranking 23rd among companies listed on the benchmark KOSPI. The stock also hit the daily upper trading limit of 30 percent on Thursday, a rare occurrence for a large-cap company. Similar patterns are being observed among affiliates with business related to the robotics sector. During the same period, electronics parts firm LG Innotek stock enjoyed a 50.8 percent increase, while IT system company LG CNS rose 28 percent and LG Display gained 23.6 percent. Buoyed by strong performances from its affiliates, holding company LG Corp. also posted a 19.6 percent increase. Analysts said the companies’ robotics-related business plans appear to have received a favorable response from the market. “LG Electronics revealed plans at its shareholder meeting in March to establish a mass

May 25, 2026By Nam Hyun-woo
LG Group enjoys rosy market outlook for robot business
Companies

Samsung union members begin vote on tentative agreement

Members of Samsung Electronics’ labor unions began mobile voting on a tentative agreement reached between their leadership and management, the final phase before the two sides’ labor dispute is settled. According to the unions, approximately 87,000 members of Samsung Electronics Labor Union (SELU) and National Samsung Electronics Union (NSEU) began casting their votes on the tentative agreement at 2 p.m. Friday. The voting will continue for six days until 10 a.m. Wednesday. The tentative agreement will be finalized if a majority of union members eligible to vote participate in the ballot and more than half approve it. If the agreement fails to win majority support, it will be rejected and labor and management will have to go back to the negotiating table. The agreement, reached Wednesday just hours before the unions were to launch a general strike, centers on distributing part of the company’s operating profit to employees as performance bonuses. The bonus system consists of two categories. The first is Samsung’s existing overall performance incentive (OPI). The agreement states

May 22, 2026By Nam Hyun-woo
Samsung union members begin vote on tentative agreement
Companies

Hyundai Steel collaborates with Star Wars franchise to promote carbon-reduced plates

Hyundai Steel has collaborated with the Star Wars franchise to promote its carbon-reduced steelmaking process through an advertisement for the film “The Mandalorian and Grogu.” The steelmaker said Friday that the collaborative video has been airing since Monday through the company’s official YouTube channel and advertisements shown at multiplex theaters. “The Mandalorian and Grogu” is an adventure film set in the "Star Wars" universe, and follows legendary Mandalorian bounty hunter Din Djarin and his young apprentice Grogu on their journey to change the fate of the galaxy. The film was released in the United States on Friday and is scheduled to open in Korea on Wednesday. In the video, Hyundai Steel compares the teamwork of Din Djarin and Grogu to the company’s operation of a hybrid process combining an electric furnace and blast furnace. The company also borrowed the film’s iconic phrase, “This is the way,” to connect it with Hyundai Steel’s efforts to pioneer the market through the carbon-reducing production processes. “Through the video, we tried to expand our com

May 22, 2026By Nam Hyun-woo
Hyundai Steel collaborates with Star Wars franchise to promote carbon-reduced plates
Companies

SK On completes BlueOval SK restructuring, takes full control of Tennessee plant

SK On has completed the restructuring of its battery joint venture with Ford Motor, BlueOval SK, converting its Tennessee plant in the United States into a standalone entity, the company said Thursday. By unwinding the joint venture structure, the company aims to strengthen its financial position while increasing operational autonomy over its U.S. production base. According to SK On, the existing BlueOval SK Tennessee plant has been renamed “SK On Tennessee” and has begun operating as a fully independent facility. Under the new structure, SK On will fully own and operate the Tennessee plant, while the two Kentucky plants previously under BlueOval SK will be owned and operated by Ford. The restructuring follows an agreement reached in December 2025 between SK On and Ford to end their three-year joint operation of BlueOval SK, a move intended to strategically realign assets and production capacity to improve operational efficiency and better respond to evolving market dynamics and customer needs. SK On expects the termination of the joint venture structure to reduce its debt burden by a

May 21, 2026By Nam Hyun-woo
SK On completes BlueOval SK restructuring, takes full control of Tennessee plant
Companies

Samsung agreement expected to trigger other unions' demands for profit sharing

Samsung Electronics' labor and management reached a last-minute agreement on a bonus system just hours before the company’s labor unions were set to stage a massive strike. But the deal is expected to create ripple effects across industries, with unions at other companies likely to raise similar demands for sharing operating profit. The two sides signed a tentative agreement Wednesday night institutionalizing a "special performance bonus system” for the chip-making Device Solutions division, funded with 10.5 percent of “a jointly selected business performance indicator.” The agreement did not clarify what the jointly selected business performance indicator would be, and the two sides have yet to disclose details. However, sources said it is expected to be based on operating profit or a similar indicator. They added that it is unlikely to rely on the company’s existing formula based on added economic value, which the unions have criticized for lacking transparency. Although the agreement includes several conditions, the two sides fundamentally agreed to institutionalize the sch

May 21, 2026By Nam Hyun-woo
Samsung agreement expected to trigger other unions' demands for profit sharing
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