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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

Drought risk missing in water supply plan for new chip cluster

The government has come up with a plan to supply industrial water to semiconductor plants that Samsung Electronics and SK hynix have committed to build in Korea's southwestern region, but questions remain over the lack of clear principles on how water should be prioritized in the event of shortages during droughts. The Ministry of Climate, Energy and Environment announced on Tuesday the plan to supply 650,000 tons of industrial water per day to the proposed chip cluster by adjusting water allocations from nearby dams. The plan came in response to concerns raised by semiconductor companies and opposition parties that the region is vulnerable to water shortages. Citing this risk, the opposition bloc has argued that the government-led 800 trillion-won chip cluster plan is seeking to attract new semiconductor plants to an unsuitable area. Under the plan, the government will secure 350,000 tons of water per day by combining the existing 50,000 tons of surplus capacity at Juam Dam with an additional 300,000 tons obtained by increasing the storage capacity of Dongbok Dam. It also seeks to secur

Jul 3, 2026By Nam Hyun-woo
Drought risk missing in water supply plan for new chip cluster
Companies

Celltrion Q2 operating profit jumps 77% to $278 mil.

Celltrion said Friday its second-quarter operating profit increased 77 percent year-on-year to 430 billion won ($278.14 million), driven by a higher share of new high-margin products and an improved cost structure. In its regulatory filing, the biopharmaceutical company reported 1.3 trillion won in sales and 430 billion won in operating profit for the second quarter, both record highs for the April-June period. Sales increased 35.2 percent from a year earlier. It said the numbers also exceeded a previously announced second-quarter operating profit target of 400 billion won, reinforcing confidence in its ability to deliver on its full-year business plan. During the second quarter, sales of the company's newer products, including Remsima SC, Yuflyma and Steqeyma, continued to grow across major global markets, with the new products accounting for more than 60 percent of total sales. Celltrion also said it is seeking regulatory approvals in Korea and North America for CT-P55, a biosimilar referencing Cosentyx for autoimmune diseases. It is also pursuing approvals in major markets for Herzuma

Jul 3, 2026By Nam Hyun-woo
Celltrion Q2 operating profit jumps 77% to $278 mil.
Tech & Science

Tech leaders showcase technology at Quantum Korea 2026

Leading technology companies and institutions showcased their latest quantum technology developments at Quantum Korea 2026, which opened on Thursday, as the government seeks to position Korea as a global leader in quantum technology through various policy initiatives. Hosted by the Ministry of Science and ICT since 2023, Quantum Korea will run through Saturday. This year’s edition focuses on how quantum technologies are being implemented and used in actual settings. A total of 56 companies and research organizations from 12 countries, including SK Telecom and KT, participated in the event, displaying quantum computer models and showcasing technologies that use quantum-based encryption and other security solutions. The telecom companies focused on quantum security solutions, as advances in quantum computing are expected to increase the risk of existing encryption systems being compromised. The key concept in their exhibitions was quantum key distribution (QKD) technology. QKD sends encryption keys using the quantum states of photons. Because observing a photon changes its quantum state,

Jul 2, 2026By Nam Hyun-woo
Tech leaders showcase technology at Quantum Korea 2026
Tech & Science

Consumer preference for flagship devices gives advantage for LG Display

The growing consumer preference for flagship devices is giving LG Display a relative edge, as its focus on OLED displays across smartphones and other consumer electronics has left the company well positioned to benefit from the trend. According to industry officials, Thursday, the display industry is facing mounting cost pressure as surging memory prices are forcing device makers to keep their bill of materials (BOM) costs under control by demanding price concessions from other component suppliers. Market tracker TrendForce said in a recent report that memory prices for smartphones surged by up to 200 percent year-on-year in the first quarter, raising memory’s share of total smartphone BOM costs to 30 to 40 percent from the previous 10 to 15 percent. While rising memory costs have driven up the prices of a wide range of consumer electronics and are set to put pressure on smartphones as well, demand for premium products has remained relatively resilient. According to Omdia, Samsung Electronics and Apple ranked first and second, respectively, in global smartphone shipments in the first q

Jul 2, 2026By Nam Hyun-woo
Consumer preference for flagship devices gives advantage for LG Display
Tech & Science

SK hynix finishes filing for US depositary share offering

SK hynix has finished filing its registration statement for listing American Depositary Shares (ADS) on the Nasdaq market Tuesday (local time), after adding its litigation risks into the statement. According to the U.S. Securities and Exchange Commission (SEC), the company completed its ADS listing process by filing the statement with the SEC. The statement reflected a June 24 board decision to issue up to 17.79 million common shares, which is about 2.5 percent of its outstanding common shares, for the ADS listing. The statement left blank both the offering price, volume and the number of ADSs representing one common share, but the company said in its board decision that it seeks to have 10 ADSs represent one common share, meaning the Nasdaq listing could raise up to $29.4 billion if the ADSs are priced in line with the company's current share price. Compared to the previous version, the latest statement revised its Risk Factors section to add an antitrust class action lawsuit filed with the U.S. District Court for the Northern District of California on June 25 by 14 U.S. consumers and t

Jul 1, 2026By Nam Hyun-woo
SK hynix finishes filing for US depositary share offering
Tech & Science

PHOTO Celebrating 40th anniv.

Merck Korea Managing Director Kim Woo-kyu, fourth from left, cuts cake to celebrate the 40th anniversary of the company's Ansan production site during a ceremony at the plant in Gyeonggi Province, Tuesday. The company said Wednesday the company has been making industrial contributions through semiconductor facility construction and other projects, and has engaged in various volunteer efforts for social contribution during its history. Starting second from left are Merck Electronics Global Head of Equipment Cluster Rob Mortensen, Ansan City Vice Mayor Heo Nam-seok, Kim and Ansan Site Director Kim Sang-yup. Courtesy of Merck Korea

Jul 1, 2026By Nam Hyun-woophoto
[PHOTO] Celebrating 40th anniv.
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
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