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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

Private sector's role increased in 5th Nuri launch

Private companies played a significantly greater role in the successful fifth launch of Korea’s Nuri rocket on Wednesday, signaling that the country’s efforts to keep pace with the global shift toward a private sector-led “New Space” era are gaining momentum. The Nuri rocket completed its fifth launch and 20-minute-long flight successfully after lifting off at the Naro Space Center in Goheung, Jeonnam-Gwangju Special Metropolitan City, at 12:25 p.m. The most notable change in the latest launch was not the rocket itself, but the growing presence of private-sector personnel at the launch site. Hanwha Aerospace has overseen the manufacturing of the Nuri rocket as its system integrator since the fourth launch on Nov. 27 last year, but this time, its role expanded to the consoles at the launch control center. Hanwha Aerospace deployed 42 staffers for the fifth launch. They participated in operations at 20 of the 22 consoles responsible for launch vehicle systems, and at 18 of them, Hanwha employees directly operated the controls instead of specialists from the Korea Aerospace Researc

Oct 7, 2026By Nam Hyun-woo
Private sector's role increased in 5th Nuri launch
Tech & Science

COVER STORY Nuri rocket successfully completes 5th flight

Korea’s domestically-developed Nuri rocket successfully carried out its mission in its fifth launch Wednesday, sequentially deploying 14 out of the 15 satellites it carried into their target orbit. The key objective of the fifth launch was to safely deploy the five microsatellite constellations, and its success has demonstrated Korea's increased multisatellite launch capabilities, taking another step toward privately-led commercial launch services. The rocket lifted off from the launchpad at the Naro Space Center in Goheung, Jeonnam-Gwangju Special Metropolitan City, at 12:25 p.m. and completed its roughly 20-minute flight at around 12:45 p.m. The rocket separated its first stage about two minutes after liftoff, followed by the second stage about four and a half minutes into the flight. At around 12:40 p.m., it reached an altitude of 570 kilometers and completed the sequential deployment of five New-space Earth Observation Satellite Constellation for National Safety (NEONSAT) microsatellites (satellites No. 2 to 6), its primary payload, along with nine of the 10 CubeSats it carried. In

Oct 7, 2026By Nam Hyun-woo
[COVER STORY] Nuri rocket successfully completes 5th flight
Tech & Science

Nuri rocket readies for 5th launch

Korea’s homegrown Nuri rocket completed preparations for liftoff on Tuesday, a day before its fifth launch, scheduled for around noon. According to the Korea AeroSpace Administration (KASA), Nuri arrived at the launchpad at the Naro Space Center in Goheung, Jeonnam-Gwangju Special Metropolitan City, around 7:40 a.m. and was erected and secured at 10:30 a.m. KASA plans to hold its launch management committee around 8:45 a.m. Wednesday to finalize the launch time. Liftoff is planned between 12:23 p.m. and 1:30 p.m., with the flight expected to last about 30 minutes. The fifth launch is intended to build Nuri’s reliability through repeated production and launches using the same design, while placing its largest-ever number of satellites into orbit. Since the fourth launch last year, Hanwha Aerospace has been overseeing the production and assembly process as the rocket’s system integrator. The Nuri will carry 15 satellites on its fifth launch: five NEONSAT swarm microsatellites as the primary payload and 10 CubeSats as secondary payloads. The total payload weight is about 1,071 kilogra

Oct 6, 2026By Nam Hyun-woo
Nuri rocket readies for 5th launch
Companies

MiCo chairman wins top US ceramic industry award

MiCo Group Chairman Jeon Seon-kyu has received a top honor from the American Ceramic Society (ACerS) for his leadership in advancing ceramic technology, the company said Tuesday. Jeon was presented with the Medal for Leadership in the Advancement of Ceramic Technology at ACerS’ Annual Honors & Awards Banquet on Monday (local time) in Pittsburgh, Pennsylvania. The award recognizes senior industry executives who have demonstrated leadership and vision in driving corporate growth and advancing the ceramic industry. Up to two recipients are selected each year, one from the Americas and one from outside the region. Jeon was the sole recipient this year. Jeon is the first Korean to receive the award. In Asia, only four Japanese and two Chinese recipients have previously been selected. ACerS recognized Jeon for MiCo Group’s development of advanced ceramic technologies used at major semiconductor manufacturing sites worldwide. It also highlighted the group’s efforts to develop core ceramic materials, localize key components for semiconductor manufacturing equipment and establish mass-produc

Oct 6, 2026By Nam Hyun-woo
MiCo chairman wins top US ceramic industry award
Business

Hyosung Chairman Cho Hyun-Joon completes bio-spandex base in Vietnam

Hyosung TNC, the world’s largest spandex maker by market share, has launched an integrated production system in Vietnam connecting sugarcane-based bio materials to finished textile products. The investment, carried out under the leadership of Hyosung Chairman Cho Hyun-joon, is aimed at reducing reliance on fossil fuel-based raw materials while internalizing the entire supply chain, from raw materials to finished products, to strengthen the company’s presence in the global sustainable textile market. Hyosung TNC said it recently began commercial operations at its Bio-Butanediol plant in Ho Chi Minh City, Vietnam, with an annual production capacity of 50,000 tons. Backed by a total investment of $1 billion, the facility can expand its annual production capacity to 200,000 tons depending on future market growth. BDO is a raw material used in spandex production and has traditionally been produced using petrochemical resources such as coal. However, Hyosung TNC’s Bio-BDO is manufactured by fermenting sugars extracted from sugarcane, with responsible sourcing and traceability verified t

Oct 6, 2026By Nam Hyun-woo
Hyosung Chairman Cho Hyun-Joon completes bio-spandex base in Vietnam
Tech & Science

Korea to launch $3.5 bil. frontier AI project next year

Korea will launch a state-backed project next year to develop a frontier artificial intelligence (AI) model capable of competing with leading Chinese open-source models, with the government planning to make 4.7 trillion won ($3.48 billion) of equity investment in what could be a special purpose company involving the country’s top AI model developers. During a press conference Friday, Second Vice Minister of Science and ICT Ryu Je-myung also said the ongoing national AI foundation model project, which drew significant attention as a competition to develop Korea’s most capable homegrown AI model, will proceed as planned, but its focus will shift toward models tailored to specific industries and real-world applications. "The frontier AI project will begin next year," he said. "It will be reflected in next year's budget, and we will pursue a higher goal by breaking through current technological limitations." He said the government and domestic companies both shared views that the global competition for advanced AI models has entered a completely different phase since the preview of Clau

Oct 5, 2026By Nam Hyun-woo
Korea to launch $3.5 bil. frontier AI project next year
Companies

SK chairman to unload $700.8 mil. stake in holding firm to pay ex-wife

SK Group Chairman Chey Tae-won will unload his stake in the group’s holding firm SK Inc. worth 944 billion won ($700.8 million) to finance a property division payment to his former wife, Roh Soh-yeong, the group said Friday. In a regulatory filing, SK Inc. said Chey, its largest shareholder, will sell 1,653,924 shares in the holding company, equivalent to a 2.3 percent stake. The transactions are scheduled for Nov. 2. SK Group said the stake sale is intended to “meet the largest shareholder’s personal funding needs related to the property division lawsuit.” “The transaction structure was carefully reviewed to minimize the impact on the market and shareholders, while allowing Chey to maintain stable management of the company and continue fulfilling his responsibilities as its largest shareholder.” The filing said all of the transactions will be conducted through after-hours block trades. Of the total, 544 billion won worth of shares will be sold to a designated strategic investor, while another 400 billion won worth will be sold in a transaction involving a price return swap w

Oct 2, 2026By Nam Hyun-woo
SK chairman to unload $700.8 mil. stake in holding firm to pay ex-wife
Companies

99.3% of soybeans imported from US test positive for genetic modification

Genetically modified organism (GMO) components were detected in 99.3 percent of U.S. soybean import cases tested over the past decade, trade data showed Friday, raising calls for Korea to diversify its soybean import sources. According to Korea Agro-Fisheries & Food Trade Corp. data submitted to Rep. Song Ok-joo of the Democratic Party of Korea, Korea imported 1.6 million tons of U.S. soybeans between 2017 and September 2026, accounting for 91.5 percent of its total soybean imports during the period. GMO components were detected in 399 of 402 U.S. soybean import cases, or 99.3 percent. Canadian soybeans were imported in 45 shipments totaling 29,469 tons, with GMO components detected in 57.8 percent of the cases. In contrast, no GMO components were detected in soybeans imported from China or Russia. Chinese soybeans totaled 112,124 tons in 18 shipments, accounting for 6.4 percent of total imports, while Russian soybeans totaled 7,870 tons across five shipments. The data came amid recent controversies over GMO detection in soybean-based foods such as tofu, soy milk and fermented soybean pa

Oct 2, 2026By Nam Hyun-woo
99.3% of soybeans imported from US test positive for genetic modification
Companies

Samsung Bioepis, Teva enter commercialization agreement on 6 biosimilar candidates

Samsung Bioepis and Teva Pharmaceutical Industries have entered into an agreement on commercializing the former’s up to six potential biosimilar candidates, including two confirmed investigational candidates, the companies said Thursday. According to Samsung Bioepis, the two sides have signed a global licensing, development and commercialization agreement for the potential candidates. Of them, two confirmed investigational biosimilar candidates are SB41, referencing AstraZeneca’s Fasenra, a treatment primarily used for severe eosinophilic asthma, and SB44, referencing Novartis’ Ilaris, which treats a range of inflammatory conditions including rare autoinflammatory diseases. Under the terms of the agreement, Samsung Bioepis will be responsible for the development, regulatory registration and manufacturing of the biosimilars, while Teva will be responsible for commercialization in global markets, including the U.S., Europe and Canada. The companies have agreed to an option for expanding the partnership to other territories. Samsung Bioepis said the agreement reinforces their existing

Oct 1, 2026By Nam Hyun-woo
Samsung Bioepis, Teva enter commercialization agreement on 6 biosimilar candidates
Companies

ECCK calls for easing EV regulation, predictability in defense trade

The European Chamber of Commerce in Korea (ECCK) recommended that Korean authorities ease regulations on electric vehicles (EVs) and improve predictability in the defense offset system in its annual white paper unveiled Wednesday. The ECCK regularly discusses regulatory issues with the Korean government through its industry committees, and publishes its white paper annually to convey concerns and recommendations from its member companies. This year’s edition contains 82 recommendations from 15 committees and three forums. During a press conference on the paper, ECCK Passenger Vehicle Committee Chair Kim Hong-joong urged Korea to better align its EV regulations with international standards. “We recommend improvements to electric vehicle certification and assessment procedures, as well as greater harmonization with and mutual recognition of international standards for advanced automotive technologies,” Kim said. “If Korea and Europe enhance regulatory alignment and reduce unnecessary differences in line with the spirit of the free trade agreement and international standards, it wou

Sep 30, 2026By Nam Hyun-woo
ECCK calls for easing EV regulation, predictability in defense trade
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