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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

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
Companies

UK envoy publicly backs Hanwha Ocean's bid for Canada's submarine project

The British ambassador to Korea publicly expressed support for Hanwha Ocean's bid to win Canada's next-generation submarine program during a recent meeting with President Lee Jae Myung, signaling the U.K. government's willingness to cooperate with the Korean shipbuilder on the multibillion-dollar defense project. British Ambassador Colin Crooks told Lee during a reception for the diplomatic corps at Cheong Wa Dae on Tuesday, in Korean, that "the U.K. government would like to work with Hanwha on the Canadian submarine project." Lee responded with a smile, saying, "Yes, I hope it succeeds." The comments are widely seen as more than a diplomatic courtesy, given the United Kingdom's growing involvement in Hanwha Ocean's campaign to secure the Canadian contract. Hanwha Ocean has partnered with Babcock Canada, a subsidiary of British defense contractor Babcock International, through a memorandum of understanding and a teaming agreement for the Canadian program. Under the arrangement, Hanwha Ocean would supply the submarine platform and oversee construction, while Babcock would provide in-count

Jun 26, 2026By Nam Hyun-woo
UK envoy publicly backs Hanwha Ocean's bid for Canada's submarine project
Companies

Hope grows for Korean firms to join supply chains of Elon Musk empire

As Elon Musk's business empire continues to expand, expectations are rising for Korean firms to deepen their presence in supply chains spanning semiconductors, chipmaking equipment and telecommunications. According to industry officials, HPSP, a domestic semiconductor equipment maker, has recently received purchase orders for its High-Pressure Hydrogen Annealing (HPA) pilot equipment for Tesla's Terafab. HPA is a front-end process that uses highly compressed hydrogen gas to heat-treat semiconductor wafers, helping reduce leakage currents and improve power efficiency. The technology has been widely used in foundry manufacturing and is increasingly being adopted for advanced memory chips. HPSP is the leading player in the global HPA market. Terafab is a $119 billion semiconductor project in Texas aimed at establishing a semiconductor and artificial intelligence (AI)chip manufacturing ecosystem involving Tesla, SpaceX and Intel. The facility is expected to supply chips needed for computing infrastructure supporting SpaceX operations, Tesla's autonomous driving and robotics technologies and

Jun 19, 2026By Nam Hyun-woo
Hope grows for Korean firms to join supply chains of Elon Musk empire
Society

JoongAng Ilbo files for creditor-led workout program

JoongAng Ilbo, one of Korea's leading newspapers, has filed for a creditor-led workout program, as the liquidity crisis at its parent JoongAng Group deepens to threaten the group's affiliates, including major broadcaster JTBC. According to the newspaper on Friday, it filed for a workout program with its main creditor Hana Bank, in a bid to restructure its debt and improve its financial health through negotiations with creditors. "We will continue discussions with creditors and faithfully devise effective debt restructuring measures and plans to normalize management," the newspaper said in a press release. Earlier this week, five JoongAng Group subsidiaries — JoongAng Holdings, JTBC, Contentree JoongAng, Megabox JoongAng and JoongAng P&I — filed for court receivership after JTBC defaulted on a 20.6 billion won ($13.6 million) debt repayment. The groupwide financial crisis also affected JoongAng Ilbo. On Thursday, Hanyang Securities, which holds 22 billion won worth of commercial paper issued by the newspaper, demanded early repayment of the short-term debt, citing heightened credit ri

Jun 19, 2026By Nam Hyun-woo
JoongAng Ilbo files for creditor-led workout program
Companies

BioTNS selected as host of gov't's ultra-precision digital PCR project

BioTNS, a Korean molecular diagnostics company, was selected as the host organization to spearhead a 30 billion won ($19.53 million) government program to set up technical standards for ultra-precision digital Polymerase Chain Reaction (dPCR) diagnostics, according to the company, Friday. With 15 institutions participating, the program is a seven-year initiative to secure global leadership in next-generation molecular diagnostics by establishing technical standards for dPCR. Through the program, the government seeks to overcome the core limitations of legacy molecular testing methods and build a critical infrastructure for ultra-precision medicine based on domestic technologies. Along with BioTNS, the consortium includes six companies, two state-backed research institutes and seven university hospitals. Participating companies include Gencurix, Hanil Scientific, JNP Medi and Omicsyn, while GC Labs will support clinical validation and commercialization. The National NanoFab Center and the Korea Research Institute of Bioscience and Biotechnology will provide technology support. Seven hosp

Jun 19, 2026By Nam Hyun-woo
BioTNS selected as host of gov't's ultra-precision digital PCR project
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