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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

Chipmakers face pressure to share 'excess profits' despite investment pledge

Despite committing a combined 4,755 trillion won ($3.05 trillion) to semiconductor and artificial intelligence (AI) infrastructure investments in support of the government's balanced development agenda, Samsung Group and SK Group's chipmaking units are now expected to face fresh calls to share excess profits. Politicians are already floating profit-sharing proposals, such as establishing a national wealth fund financed by additional tax revenue, distributing public dividends or returning a portion of excess profits to underdeveloped rural areas. The government plans to begin public discussions on the issue within a month, with the labor minister describing chipmakers’ "astronomical excess profits" as "the aggregate gains created by society." In a Facebook post on Sunday, Kim Yong-beom, the presidential chief of staff for policy, said that how to distribute semiconductor companies’ “extraordinary profits between shareholders and workers” would be one of the key questions shaping the country's future. He wrote that excess liquidity should be channeled into overseas investments and

Jul 1, 2026By Nam Hyun-woo
Chipmakers face pressure to share 'excess profits' despite investment pledge
Companies

KCCI enhances biz ties with US on America’s 250th anniversary

The Korea Chamber of Commerce and Industry (KCCI) on Wednesday reaffirmed the economic value of the Korea-United States alliance on the occasion of the 250th anniversary of American independence, while pledging to further strengthen its job platform connecting U.S. Forces Korea (USFK) veterans with Korean companies. In reaffirming the economic ties between Seoul and Washington, the business organization held the ROK-U.S. Cooperative Event for the USFK Job Platform as part of the U.S. government's Freedom 250 initiative, underscoring the two countries' commitment to deepening economic cooperation. The initiative is a public-private campaign commemorating the 250th anniversary of U.S. independence and celebrating its founding ideals, including freedom and democracy. KCCI said its USFK Job Platform echoes those values by helping U.S. military veterans build new careers with Korean companies. KCCI Chairman Chey Tae-won, Korea’s Trade Minister Yeo Han-koo, Korea-U.S. Alliance Foundation (KUSAF) President Leem Ho-young, James Heller, charge d’affaires ad interim at the U.S. Embassy in Seo

Jul 1, 2026By Nam Hyun-woo
KCCI enhances biz ties with US on America’s 250th anniversary
Companies

Samsung, SK chip investment timelines leave room for adjustment

Samsung Electronics and SK hynix announced a combined 800 trillion won ($516.4 billion) investment commitment to establish advanced chip plants in Gwangju and South Jeolla Province in Korea's southwest, but stopped short of providing a timeline for when the investments will be made or construction will begin, leaving room to adjust their spending plans until the long-term memory chip cycle becomes clearer. According to the government and the chipmakers, Samsung and SK will each invest 400 trillion won to build two advanced memory fabrication each in the region, for a total of four new fabs as part of the government’s “three megaprojects for Korea’s leap forward.” Samsung Electronics Executive Chairman Lee Jae-yong named Gwangju as the candidate site, while SK Group Chairman Chey Tae-won referred to the region as a whole. While announcing the massive plans while standing with President Lee Jae Myung, who have been urging the chipmakers to make investment in the southwestern region, the leaders refrained from specifying timelines for the new fabs. The companies also did not mention

Jun 30, 2026By Nam Hyun-woo
Samsung, SK chip investment timelines leave room for adjustment
Companies

LG Electronics to establish control tower for robotics business

LG Electronics said Tuesday it will establish a robotics business center to consolidate its capabilities in robot commercialization, manufacturing and other parts of the robotics supply chain. According to the company, the new organization will report directly to CEO Lyu Jae-cheol and be headed by Song Si-yong, who previously held senior leadership positions at the company's Production Engineering Research Institute. LG Electronics carried out an organizational restructuring solely to establish the new organization, which will begin operations on Wednesday. The company said the center will operate as “an end-to-end business organization” covering business development, sales and operations. It will also have a dedicated data factory organization, so that it can secure data factory capabilities promptly to collect high-quality operational data and advance LG’s robot foundation model. As part of this strategy, LG Electronics said it is building a large-scale data factory at its Yangjae R&D Campus in Seoul, with operations set to begin this year. LG Electronics said it expects the cente

Jun 30, 2026By Nam Hyun-woo
LG Electronics to establish control tower for robotics business
Companies

Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion

Lotte Group will launch a joint venture in Singapore early next month to integrate the Asian operations of its Korean and Japanese food businesses, marking a major step in Chairman Shin Dong-bin's "One Lotte" strategy aimed at strengthening the group's global competitiveness. The new company, jointly established by Lotte Wellfood of Korea and Japan's Lotte Confectionery, has already secured board approval from both companies, as well as clearance from the relevant competition authorities. Shin Yu-yeol, head of Lotte Holdings' future growth division, will serve as chairman of the joint venture's board and oversee the group's overseas food business strategy and cross-border synergies. The joint venture represents one of the most tangible outcomes of Shin's long-standing effort to deepen cooperation between the group's Korean and Japanese affiliates. Shin has regularly chaired "One Lotte Food Strategy Meetings," urging closer collaboration to build a stronger global presence as growth in the domestic markets of both countries slows. Under the strategy, the two companies have expanded coope

Jun 30, 2026By Nam Hyun-woo
Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion
Tech & Science

Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm

Samsung Electro-Mechanics will supply multilayer ceramic capacitors (MLCCs) for artificial intelligence (AI) servers to a U.S. Big Tech firm, signing a $294 million (454 billion won) contract. The company said in a regulatory filing Tuesday that it has signed a one-year supply deal that will begin on Jan. 1 next year. The company did not identify the customer, but sources said it is a U.S. cloud service provider. The deal accounts for approximately 9 percent of the component division's 2025 revenue of 5.2 trillion won. MLCC is a component that stabilizes power for semiconductors and other electronic devices. As power fluctuations in servers can directly affect performance, MLCCs have become increasingly important in AI server environments. AI server applications require high-performance MLCCs that can withstand the harsh operating conditions created by intensive computing workloads, such as high heat and greater stress for warpage. AI servers contain more than 10 times as many MLCCs as conventional servers. A typical AI graphics processing unit is equipped with more than 20,000 MLCCs, mea

Jun 30, 2026By Nam Hyun-woo
Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm
Companies

Samsung, partner firms sign agreement for mutual growth

Samsung Group companies signed a comprehensive agreement with their partner companies to promote mutual growth, laying the foundation for more practical cooperation with vendors and a more resilient supply chain. During a signing ceremony at Samsung Electronics’ headquarters in Suwon, Gyeonggi Province, leaders of 11 Samsung affiliates and their key partner firms promised to pursue mutual growth. Participating Samsung firms include Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI, Samsung SDS, Samsung C&T, Samsung Heavy Industries, Samsung E&A, Cheil Worldwide, Shilla Hotel and Semes. "Samsung could not have achieved its current standing without the hard work, dedication and commitment of its partner companies," Samsung Electronics CEO Roh Tae-moon said. "As partners with a shared future, we will build a stronger partnership based on mutual growth and work to ensure its benefits extend to second- and third-tier suppliers." Under the agreement, Samsung affiliates pledged to expand communication channels with partner companies and review the effectiveness of th

Jun 29, 2026By Nam Hyun-woo
Samsung, partner firms sign agreement for mutual growth
Tech & Science

KAIST appoints Bae Choong-sik as new president

The Korea Advanced Institute of Science and Technology (KAIST) has appointed Bae Choong-sik, a professor in the mechanical engineering department, as its new president, ending a 16-month leadership vacuum at the country's top science institution, the university said Monday. During a board meeting at its Seoul campus, the university appointed the 63-year-old as its 18th president. Bae is a renowned expert in eco-friendly energy and carbon-neutral power engineering. He earned his bachelor’s and master’s degrees in aerospace engineering from Seoul National University and a doctorate in mechanical engineering from Imperial College London. He joined KAIST in 1998 and has since served in key posts, including as the dean of KAIST College of Engineering. Bae has played a key role in shaping Korea's science and technology policies, serving as a regular member of the National Academy of Engineering of Korea and a climate change adviser for the Ministry of Foreign Affairs. He became the first Korean to be named a fellow by the Society of Automotive Engineers in the powertrain field and received

Jun 29, 2026By Nam Hyun-woo
KAIST appoints Bae Choong-sik as new president
Companies

Kakao union stages 1-day walkout after partial strike

Unionized workers at mobile messenger giant Kakao staged a one-day walkout Monday amid prolonged wage negotiations with management. According to Crew Union, which represents Kakao staff, members took part in a "log-off day" campaign, a form of strike in which employees took leave and signed out of the company's internal work platforms, effectively suspending their duties for the day. The walkout involved union members from Kakao and its affiliates, including payment service provider Kakao Pay, cloud computing firm Kakao Enterprise, IT services company dk techin and game developer XLGAMES. The union said approximately 2,100 members participated in the walkout, nearly half of its 5,000 members. Kakao, however, estimated that about 800 employees took part in the strike. Aside from the walkout, the union did not stage separate protests or rallies and said it would not issue a separate statement. The walkout came after 1,500 members of the union staged a four-hour partial strike on June 10, marking the first labor strike in the mobile platform giant's 20-year history. The two sides have been a

Jun 29, 2026By Nam Hyun-woo
Kakao union stages 1-day walkout after partial strike
Tech & Science

Micron's strong earnings stoke hope for Samsung, SK hynix Q2 results

U.S. memory chip maker Micron’s strong earnings and rosy mid-term outlook are prompting expectations on the profitability of Samsung Electronics and SK hynix in the second quarter. According to industry officials, Sunday, Samsung Electronics is expected to release its earnings guidance for the April-June period around July 7, while SK hynix will announce its financial results in late July. Brokerages are already expecting both companies to post record earnings. According to market tracker FnGuide, brokerage consensus forecasts Samsung Electronics to post 86 trillion won ($56 billion) in operating profit and 170.47 trillion won in revenue. The figures would represent year-on-year increases of 1,739.6 percent and 128.62 percent, respectively, exceeding the previous record highs of 57.2 trillion won in operating profit and 133.87 trillion won in revenue posted in the first quarter just three months earlier. SK hynix is expected to post 63.45 trillion won in operating profit and 82.89 trillion won in sales, up 589 percent and 273 percent year-on-year, respectively. The figures would also su

Jun 28, 2026By Nam Hyun-woo
Micron's strong earnings stoke hope for Samsung, SK hynix Q2 results
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