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Park Jae-hyuk

Korea Times Business Reporter

Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.

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Companies

Korea under pressure to invest in Louisiana LNG to lower US tariffs

A U.S. request for Korea to invest in Louisiana’s liquefied natural gas (LNG) industry has emerged as a key agenda item in ongoing trade talks between the two countries. U.S. President Donald Trump’s threat to raise tariffs on Korean goods back to 25 percent from 15 percent — the level agreed upon last November — has been attributed partly to Seoul’s rejection of that request. The Ministry of Trade, Industry and Resources on Friday neither confirmed nor denied a report that Washington began warning of the tariff hike after Korea refused to invest in Louisiana LNG export terminals. Citing multiple government sources, the Dong-A Ilbo reported that Seoul’s trade negotiators told their U.S. counterparts that it would be difficult to make decisions unless the National Assembly passes a bill to formalize Korea’s planned $350 billion investment in American industries. “Please excuse us for not going into specifics about discussions on U.S. investment projects,” the ministry spokesperson said in a press statement. The government’s working-level delegation sent to Washington on

Feb 20, 2026By Park Jae-hyuk
Korea under pressure to invest in Louisiana LNG to lower US tariffs
Companies

Lotte, CJ, Shinhan behind Korea's 1st Olympic gold in snowboarding

Corporate sponsors of Korean snowboarder Choi Gaon are drawing unexpected attention after her stunning victory in the women’s halfpipe event at the Milan Cortina Winter Olympics on Feb. 12. Her win secured Korea’s first-ever Olympic gold medal in a snow event and the nation’s first gold in this year’s Winter Games. Choi, the youngest women’s halfpipe gold medalist at 17 years and three months old expressed her gratitude to Lotte, CJ and Shinhan Financial for their years of support. “CJ Group has sent me a lot of Bibigo products whenever international competitions take place, and Lotte supported me when I was going through the hardest time,” she said during a press conference on Feb. 14. “Shinhan has also cheered for me quietly but sincerely.” Choi, who began snowboarding at age seven, joined the Lotte Ski & Snowboard Team in 2022, the year the retail giant founded the team. Over the past 12 years, Lotte has spent 30 billion won ($21 million) supporting skiers and snowboarders, driven by Chairman Shin Dong-bin’s passion for the sport. A former skier himself, Shin led t

Feb 19, 2026By Park Jae-hyuk
Lotte, CJ, Shinhan behind Korea's 1st Olympic gold in snowboarding
Companies

AMCHAM chief willing to mediate between Korea, US in Coupang dispute

American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim cautioned against attempts to tie Seoul’s ongoing investigation into Coupang to Washington’s threat to raise tariffs on Korean goods from 15 percent back to 25 percent. While supporting the Korean government’s denial of any connection between the two issues, the Korean American head of the U.S. business lobby also expressed his willingness to serve as a mediator to help resolve the growing dispute over the Delaware-headquartered e-commerce firm, which is also a member of the chamber. Kim told The Korea Times in a recent interview that there are people "trying to intermingle" the Coupang case with the stalled tariff talks. "They should be completely decoupled," he insisted. The Korean government has attributed the U.S. tariff threat to the National Assembly’s slowness in passing a bill to formalize Korea’s $350 billion investment in American industries. However, U.S. Republicans and Korean lawmakers from the conservative main opposition party have warned that tariff talks between Seoul and Washington could be nega

Feb 19, 2026By Park Jae-hyuk
AMCHAM chief willing to mediate between Korea, US in Coupang dispute
Companies

POSCO becomes 1st Korean firm to earn certification for advanced warship materials

POSCO has set a new milestone in Korea’s defense industry with the development of advanced structural materials for naval vessels. The company said Thursday it successfully developed the nation’s first high-ductility hull structural steel and ballistic-resistant steel for naval use, both of which received classification certification in January from the Korean Register, a domestic ship classification society. Classification societies are organizations that evaluate and certify the safety and quality of materials, design and manufacturing processes used in ships and offshore structures. These institutions set standards and regulations that all such materials must meet. According to the steelmaker, the certification followed a comprehensive process that included material development, weldability verification and evaluation of protective performance for warships. High-ductility steel refers to steel with greater elongation and toughness than conventional grades, allowing it to stretch or deform under impact without fracturing. POSCO’s newly developed material improves elongation by mor

Feb 19, 2026By Park Jae-hyuk
POSCO becomes 1st Korean firm to earn certification for advanced warship materials
Others

Korea slips to 9th in US import rankings amid Trump tariffs

Korea fell to ninth among U.S. import partners last year, as its market presence eroded under tariffs imposed by the Donald Trump administration, the Korea International Trade Association (KITA) said Wednesday. According to KITA, which analyzed trade data from the U.S. Department of Commerce, the United States imported goods worth $113.4 billion from Korea from January to November 2025, down 5.9 percent from a year earlier. The amount represented 3.6 percent of total U.S. imports — the ninth-largest share — falling two notches from 2024, when Korea accounted for 4 percent. The figure marks the lowest level since KITA began compiling related data in 1988. Korea previously ranked sixth or seventh every year since 2009. Mexico, Canada, China, Taiwan, Vietnam, Germany, Japan and Ireland ranked ahead of Korea. The drop is largely due to Korea’s greater vulnerability to sweeping U.S. tariffs, which allowed Taiwan and Ireland to overtake it. In particular, Taiwan, a direct competitor to Korea in the semiconductor foundry sector, jumped to fourth place from eighth in 2024, accounting for 5.6

Feb 18, 2026By Park Jae-hyuk
Korea slips to 9th in US import rankings amid Trump tariffs
Companies

SK Innovation E&S supports young entrepreneurs in Indonesia

SK Innovation E&S said Wednesday that it hosted a networking event at the Korean Embassy in Jakarta to celebrate the company’s MAJU:ON project, launched last year to support young entrepreneurs in Indonesia’s energy and environmental sectors. According to the energy affiliate of SK Group, the project drew applications from more than 220 teams last year. Of those, 127 teams were selected for a four-week training program that led to a hackathon in November, where the top 10 teams were chosen to attend the latest networking event with policymakers and investors. The Korean firm said two to three outstanding teams will receive funding and take part in a Final Demo Day event scheduled for May, giving them the opportunity to pitch their ideas to venture capital firms. During the networking event, hackathon winners gave presentations and joined a panel discussion on Indonesia’s policy directions in line with the U.N. Sustainable Development Goals, the importance of nurturing young entrepreneurs and strategies to tackle social and environmental challenges. GISACT, the hackathon’s grand p

Feb 11, 2026By Park Jae-hyuk
SK Innovation E&S supports young entrepreneurs in Indonesia
Companies

PHOTO Sharing tteokguk for low-income households

S-Oil employees pose at the Yeom-li Social Welfare Center in Seoul, Wednesday, after donating 50 million won ($34,000) to the center and delivering 350 gift packages to low-income residents in Mapo District. The refiner said the employees also served tteokguk, a sliced rice cake soup traditionally served for the Lunar New Year, to low-income people at the center. Courtesy of S-Oil

Feb 11, 2026By Park Jae-hyukphoto
[PHOTO] Sharing tteokguk for low-income households
Companies

POSCO, veterans ministry boost ties to support wounded patriots

The POSCO 1% Foundation, a charity supported by POSCO Group employees who donate 1 percent of their monthly salaries, signed a memorandum of understanding with the Ministry of Patriots and Veterans Affairs on Wednesday to help wounded patriots and veterans reintegrate into society. POSCO Group Chairman Chang In-hwa, who also heads the foundation, said during the signing ceremony that those who sacrificed for the nation should not face hardship in their daily lives. “I hope the POSCO 1% Foundation’s Wings of Hope program will serve as a platform that helps people who have rendered distinguished service to the state return to society,” he said. The foundation and the ministry launched the program in 2020 to provide wounded soldiers and firefighters with customized assistive devices such as artificial limbs after assessing each recipient’s physical condition and daily routine. The program aims to help recipients adapt to the devices with support from professional therapists. Since 2024, the foundation has supplied Korean-made wearable robots to five Veterans Health Service Medical C

Feb 11, 2026By Park Jae-hyuk
POSCO, veterans ministry boost ties to support wounded patriots
Companies

Hyundai E&C ramps up efforts to revive US nuclear reactor construction

Hyundai E&C said Wednesday it hosted a seminar on large-scale nuclear power plant technologies in Texas to enhance the region’s understanding of reactor construction projects through field-specific professional sessions. According to the construction firm, the event served as a platform to strengthen partnerships with leading local companies for the successful construction of four reactors within Fermi America’s Project Matador, an 11-gigawatt private energy campus in the southern U.S. state. Since signing a contract with Fermi America last year for the front-end engineering design of the four reactors, Hyundai E&C has stepped up efforts to lay out facilities on the site, choose a cooling system and estimate costs. The Korean firm aims to sign an engineering, procurement and construction contract for the project during the first half of this year. “We hope this seminar will contribute to encouraging leading local construction companies to participate in nuclear plant projects,” a Hyundai E&C official said. “As Hyundai E&C and Fermi America have continued discussions on broader

Feb 11, 2026By Park Jae-hyuk
Hyundai E&C ramps up efforts to revive US nuclear reactor construction
Companies

POSCO International's bet on energy, material, food set to pay off

Optimism is growing around POSCO International’s ability to generate meaningful revenue this year from its energy, material and food businesses, thanks to its efforts last year to complete value chains in the three core sectors. In 2025, the trade and energy subsidiary of POSCO Group posted a record operating profit of 1.165 trillion won ($795 million), keeping its operating profit above 1 trillion won for the third consecutive year. Securities analysts expect the company to sustain its growth momentum this year, citing its investments into building value chains across the energy, material and food sectors. “With annual investments of more than 1.5 trillion won, the company is expected to secure solid growth momentum,” Mirae Asset Securities analyst Ryu Je-hyun said. “Aiming to become a platform player, it will aggressively expand assets and streamline operations this year.” POSCO International’s focus on the three sectors has been attributed to an initiative from POSCO Group Chairman Chang In-hwa. “The group’s energy business should strengthen its profitability and become

Feb 11, 2026By Park Jae-hyuk
POSCO International's bet on energy, material, food set to pay off
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