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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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Companies

Samsung Biologics to acquire PolyPeptide for $1.8 bil.

Samsung Biologics said Monday it will acquire Swiss peptide drug manufacturer PolyPeptide Group through an all-cash public tender offer valued at approximately 1.46 billion Swiss francs ($1.8 billion), marking its largest overseas acquisition as it expands beyond antibody manufacturing into peptide therapeutics. The Korean contract development and manufacturing organization (CDMO) will offer 44.31 Swiss francs per share for all outstanding shares of PolyPeptide, representing a 40 percent premium to the company's unaffected closing price before acquisition rumors emerged in April. The transaction, expected to close toward the end of 2026, is subject to shareholder approval, regulatory clearances and other customary conditions. Samsung Biologics must secure at least a two-thirds acceptance rate from shareholders. PolyPeptide's largest shareholder, which owns about 55.7 percent of the company, has already agreed to tender its stake. PolyPeptide's board of directors unanimously recommended that shareholders accept the offer, saying the acquisition provides an attractive outcome for investor

Jul 20, 2026By Nam Hyun-woo
Samsung Biologics to acquire PolyPeptide for $1.8 bil.
Tech & Science

Price to be key as Samsung takes on Meta in smart glasses

Samsung Electronics is expected to reveal its smart glasses series at the upcoming Galaxy Unpacked July 2026 in London next week, with the company seeking to challenge Meta's dominance in the market. Market observers say smart glasses will become the next battleground for global device makers in the wake of physical artificial intelligence (AI), and pricing is expected to play a key role in determining market leadership. Samsung Electronics in May unveiled two designs of its smart glasses, developed in partnership with eyewear brands Gentle Monster and Warby Parker. Scheduled to debut in the global market this autumn, Samsung said the smart glasses will allow users to access Google's Gemini AI for navigation, location recommendations, real-time voice translation and text message summaries. The Samsung glasses will reportedly feature a built-in camera, speakers and microphones — primarily serving as the eyes for an AI in paired smartphones. They are not expected to include a display function, but are expected to weigh around 50 grams, offering improved comfort compared to existing smart

Jul 17, 2026By Nam Hyun-woo
Price to be key as Samsung takes on Meta in smart glasses
Tech & Science

'AI for everyone' gov't initiative faces feasibility questions

The government plans to roll out a general artificial intelligence (AI) service allowing unlimited use for all Koreans without any fees, but the initiative is facing questions about its feasibility, particularly over how it would cover token costs and ensure the operator's financial sustainability. During a policy briefing with President Lee Jae Myung Thursday, the Ministry of Science and ICT announced that it will introduce “a ChatGPT-like chatbot service” by using Korea’s proprietary AI model by the end of this year. The government also plans to integrate public services into the platform, allowing users to search and apply for government services through the AI model. Once the service gets on track, the government plans to upgrade it next year into an AI agent that will offer greater accessibility than a chatbot, with the goal of providing every Korean with a personal AI agent. "In addition to a general-purpose AI chatbot service, we will continue to expand public AI agent services," Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon said. "Starting in 2027, we

Jul 17, 2026By Nam Hyun-woo
'AI for everyone' gov't initiative faces feasibility questions
Tech & Science

PHOTO KT-Palantir hackathon

KT employees participate in a hackathon with Palantir at KT office's in Seongnam, Gyeonggi Province, in this handout photo released Thursday. During the event held from Monday to Wednesday, KT employees developed artificial intelligence agents for potential deployment across the company's core business areas using Palantir's platforms. Courtesy of KT

Jul 16, 2026By Nam Hyun-woophoto
[PHOTO] KT-Palantir hackathon
Companies

Hyundai Motor Group to take full ownership of Boston Dynamics

Hyundai Motor Group will take full ownership of Boston Dynamics by acquiring a 9.65 percent stake held by Japan's SoftBank. Through the acquisition, the group will accelerate its expansion into the robotics business while speeding up preparations for an anticipated initial public offering (IPO) of the robotics affiliate. The group said Thursday that SoftBank had exercised its put option to sell its remaining 9.65 percent stake in Boston Dynamics under their sale and purchase agreement signed in 2020. Hyundai Motor Group acquired an 80 percent stake in Boston Dynamics from SoftBank at around 1 trillion won ($674 million) in 2020. Under the deal, SoftBank had the right to sell its remaining stake to Hyundai Motor Group if Boston Dynamics was not listed in the United States. The option is set to expire on July 20. SoftBank's stake was later diluted to 9.65 percent through capital increases and additional investments by Hyundai Motor Group. Excluding SoftBank, HMG Global, a joint investment firm between Hyundai Motor, Kia and Hyundai Mobis, held a 56.3 percent stake in Boston Dynamics, foll

Jul 16, 2026By Nam Hyun-woo
Hyundai Motor Group to take full ownership of Boston Dynamics
Companies

Samsung Group to contribute $134.4 mil. to vulnerable households

Samsung Group said Thursday it will contribute 200 billion won ($134.4 million) to the Samsung Miso Financial Foundation to support vulnerable households, as part of its earlier pledge to commit 5 trillion won to social contribution initiatives over the next five years. Of the 200 billion won, Samsung Electronics will contribute 150 billion won, while Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities and other financial affiliates will contribute the remaining 50 billion won. With the contribution, the foundation will provide unsecured and nonguaranteed loans to financially vulnerable households, small business owners and startups. The loans will be provided at interest rates of up to 4.5 percent annually and are expected to benefit about 40,000 people. The contribution is part of Samsung Electronics pledge to expand its social contributions after reaching a wage agreement with its labor union in May. At the time, the company pledged to commit 5 trillion won to social contribution initiatives over the next five years, saying it would ensure that “the company'

Jul 16, 2026By Nam Hyun-woo
Samsung Group to contribute $134.4 mil. to vulnerable households
Companies

Novelis Korea director appointed chair of KONMA Aluminum Committee

Novelis Korea Director of Government Affairs Choi Min-young was appointed as the inaugural chair of the Aluminum Committee of the Korea Nonferrous Metals Association (KONMA), the aluminum rolling and recycling company said Thursday. KONMA is an industry association established to promote the development of Korea’s nonferrous metals industry and strengthen the competitiveness of its member companies. The Aluminum Committee was newly established this year to support the sustainable development of the aluminum industry and address shared priorities among member companies. The committee will advance government policy recommendations, support supply chain stabilization and respond to evolving global trade and environmental regulations. These efforts aim to enhance the competitiveness of the aluminum industry and promote a circular economy through the expanded use of recycled aluminum, Novelis said. “Aluminum is a key material driving the era of carbon neutrality and the circular economy,” Choi said. “I will do my utmost to bring together the diverse voices of the industry and contrib

Jul 16, 2026By Nam Hyun-woo
Novelis Korea director appointed chair of KONMA Aluminum Committee
Companies

HLB resolves issues behind FDA setback for novel liver cancer drug

The U.S. Food and Drug Administration (FDA) has determined that the inspection findings behind its rejection of HLB's liver cancer drug Rivoceranib can be addressed through voluntary corrective actions, easing market concerns over the treatment. HLB said Wednesday that its U.S. subsidiary Elevar Therapeutics has received a close-out letter regarding the FDA's current good manufacturing practice (cGMP) inspection of a facility operated by its Chinese partner Jiangsu Hengrui Pharmaceuticals that produces the drug substance for Rivoceranib. In the letter, the FDA said the facility was generally in compliance with cGMP requirements and classified the inspection findings as Voluntary Action Indicated (VAI). VAI is an inspection classification indicating that the FDA identified issues at a facility but did not consider them serious enough to force regulatory action. HLB said the letter also stated that the VAI classification itself would not affect the FDA's review of the pending application related with the facility. HLB has received three Complete Response Letters (CRLs) from the FDA regardi

Jul 15, 2026By Nam Hyun-woo
HLB resolves issues behind FDA setback for novel liver cancer drug
Companies

Feud deepens between Samsung's device, chip divisions over incentives

The feud between Samsung Electronics' device-making and chipmaking divisions is deepening, as employees in the smartphone and home appliance businesses are expressing anger over a nearly 100-fold compensation gap between them and employees in the chipmaking division. Samsung Electronics Company Union (SECU), which is mostly comprised of employees in the appliance-making Device Experience (DX) division, will hold a rally under a "same company, same rights" slogan at the company’s plant in Suwon, Gyeonggi Province on Thursday to protest the compensation gap between the divisions and urge management to address the issue. SECU became the company's second-largest labor union after a large number of DX division employees joined in protest against a wage agreement reached in May, under which only employees in the chipmaking Device Solutions (DS) division were granted performance incentives of up to 600 million won ($402,900). As of Wednesday morning, the union had 28,569 members, accounting for roughly 55 percent of the DX division's workforce of 51,700. A day earlier, the National Samsung E

Jul 15, 2026By Nam Hyun-woo
Feud deepens between Samsung's device, chip divisions over incentives
Companies

KITA celebrates 80th anniversary

The Korea International Trade Association (KITA) celebrated its 80th founding anniversary on Tuesday, honoring its contributions to the country's trade and economic growth as a private organization. KITA held a 80th anniversary ceremony at the Coex exhibition center in southern Seoul, attended by more than 1,000 government officials, foreign envoys and business leaders, including Prime Minister Han Seong-sook and Minister for Trade Yeo Han-koo. "Having grown over the past 80 years with the trust and support of the government and the trade community, we will repay that trust with even greater responsibility and contributions," KITA Chairman Yoon Jin-sik said. "Based on the private sector's creativity and a strong sense of public responsibility, we will stand alongside Korean businesses in their global ambitions and serve as their most trusted partner as they expand into markets around the world." Founded in 1946 with 105 member companies, KITA has grown into one of Korea's leading business organizations, now representing more than 80,000 member firms. The ceremony also featured the unveili

Jul 14, 2026By Nam Hyun-woo
KITA celebrates 80th anniversary
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