The Korea Times

US warns Korea of Chinese tech reliance, regulatory barriers

The United States is ramping up pressure on Korea to stop using Chinese technologies and remove regulations deemed unfavorable to American companies, with a senior U.S. official saying Tuesday that Seoul has to make a choice in the face of adversaries undermining the alliance. In a prerecorded video at the American Chamber of Commerce in Korea’s (AMCHAM) annual Doing Business in Korea seminar in Seoul, Michael DeSombre, assistant secretary for East Asian and Pacific affairs at the U.S. Department of State, warned of China’s moves to drive a wedge between Korea and the U.S., calling the world’s second-largest economy “a regional adversary.” “The Republic of Korea has a choice to make,” he said. “I am confident it will continue to choose trusted partners, transparent systems and technologies that respect privacy, security and the rule of law.” Highlighting the Technology Prosperity Deal signed at the Korea-U.S. summit last October, the senior diplomat indicated Washington’s intent to leverage the partnership to curb Beijing’s attempts to use its technologies to incre

Apr 21, 2026By Park Jae-hyuk

US warns Korea of Chinese tech reliance, regulatory barriers

Companies

Korea, India sign 20 MOUs in steel, shipbuilding, digital services

Business leaders from Korea and India signed 20 memorandums of understanding (MOUs) in New Delhi on Monday (local time) on the occasion of President Lee Jae Myung's state visit to the world’s most populous country. During a forum held on the sidelines of the president’s visit, businesses from the two countries agreed to boost partnerships in steel, shipbuilding, digital services, energy and other sectors. With POSCO Group Chairman Chang In-hwa in attendance, the Korean steelmaker held a signing ceremony with JSW Steel for a $7.3 billion investment deal to establish a joint venture that will build and manage an integrated steel mill in Odisha. Once construction is completed in 2031, the factory will have an annual capacity of 6 million tons. The two steelmakers are considering using renewable sources with fossil fuels to power the facility. POSCO has sought since 2004 to build a facility in the eastern Indian state that will produce steel from raw materials in a single location. The Korean firm agreed in October 2024 to jointly develop an integrated steel mill with India’s largest st

Apr 20, 2026By Park Jae-hyuk

Korea, India sign 20 MOUs in steel, shipbuilding, digital services

Companies

Samsung SDI to supply EV batteries to Mercedes-Benz

Samsung SDI signed a multiyear contract Monday to supply high-nickel batteries made of nickel, cobalt and manganese for Mercedes-Benz’s next-generation compact and midsize electric SUVs, as well as coupe models. This marks the first time the Korean battery maker has struck an electric vehicle (EV) battery supply agreement with the German carmaker. Both companies kept the scale of the deal confidential, but industry officials estimate its monetary value to be approximately 10 trillion won ($6.7 billion). With Samsung SDI CEO Choi Joo-sun and Mercedes-Benz Group Chairman Ola Kallenius in attendance, the two companies held a signing ceremony in Seoul, pledging to broaden their strategic cooperation in future mobility, including joint development of next-generation battery technology. Samsung SDI also emphasized that the batteries for Mercedes-Benz deliver high energy density, extended driving range, long lifespan and high power, along with the Korean firm’s own safety solutions. “This partnership brings together the innovative DNA of both companies,” a Samsung SDI official said. “I

Apr 20, 2026By Park Jae-hyuk

Samsung SDI to supply EV batteries to Mercedes-Benz

Companies

Construction firms hike wages for employees in Middle East

Korean construction firms have begun offering higher pay to employees working at project sites in the Middle East. The wage hikes address persistent safety concerns due to prolonged tensions in the region following the war between the United States, Israel and Iran. Earlier this month, the ceiling of Hyundai E&C's office near the Amiral project site in Saudi Arabia was partially damaged by a tremor caused by an Iranian airstrike on a neighboring petrochemical complex. While some staff have been evacuated, construction firms have offered incentives to employees who remain on duty. Samsung gave gifts worth 5 million won ($3,380) last month to some 500 employees working in the United Arab Emirates, Qatar and Saudi Arabia, most of whom belong to the conglomerate's construction arms, Samsung C&T and Samsung E&A. The gifts included Samsung Electronics mobile devices and vouchers that can be used at traditional markets in Korea. In addition, Samsung E&A decided to raise allowances for employees dispatched to the three Middle Eastern countries classified as dangerous regions. GS E&C took similar m

Apr 17, 2026By Park Jae-hyuk

Construction firms hike wages for employees in Middle East

Companies

Hanwha calls off request for US Section 301 probes on China, India

Hanwha Qcells USA has withdrawn its comments on proposed U.S. investigations into alleged excess manufacturing capacity in 16 economies under Section 301 of the Trade Act of 1974. In a letter sent to U.S. Trade Representative (USTR) Jamieson Greer on Wednesday (local time), the Korean conglomerate’s U.S. subsidiary had originally requested Section 301 probes and tariffs on solar wafers, cells and modules from China, Indonesia, Cambodia, Thailand, Vietnam and India, calling them "state-influenced economies" that distort global markets with overcapacity. The company also urged tariff relief for Korea and Malaysia, denying state-directed solar overcapacity in countries where it operates manufacturing facilities. These requests were made in response to the Office of the USTR's inquiries about whether the company wished to provide comments specific to each of the 16 economies subject to Section 301 investigations. "Manufacturers of state-influenced economies have relocated production to Southeast Asian countries to circumvent U.S. trade remedies, and India’s solar manufacturing capacity i

Apr 17, 2026By Park Jae-hyuk

Hanwha calls off request for US Section 301 probes on China, India

Companies

Seoul refutes excess capacity, forced labor allegations in letters to USTR

Seoul refuted Washington’s claims of structural excess capacity in Korea’s manufacturing sector and failure to ban exports of goods made with forced labor, in its comments on the proposed U.S. investigations under Section 301 of the Trade Act of 1974. In documents submitted shortly before the deadline Wednesday (local time), the Ministry of Trade, Industry and Resources rejected the allegations raised by the Office of the United States Trade Representative (USTR). While highlighting Korea’s market-based economic structure, efforts to address excess capacity and the complementary nature of Korean and U.S. industries, the ministry said Korea has consistently pursued the elimination of forced labor. “The 2025 Global Forum on Steel Excess Capacity Ministerial Statement notes that Korea does not contribute to global steel excess capacity through nonmarket policies, but is rather affected by such excess capacity,” the document on excess capacity reads. “In its analysis of the semiconductor industry, the OECD recognized Korea’s manufacturing sector as being driven by private enter

Apr 16, 2026By Park Jae-hyuk

Seoul refutes excess capacity, forced labor allegations in letters to USTR

Companies

Int'l flight fuel surcharges to hit record high in May

Korea’s two largest air carriers will impose record-high fuel surcharges on international flight tickets issued in May, following a sharp rise in global oil prices amid tensions in the Middle East. Korean Air announced on its website Thursday that its one-way international fuel surcharge on the longest-haul routes will rise to 564,000 won ($383) from 303,000 won for tickets issued this month and 198,000 won for those purchased in March. This means that fares on a round trip between Incheon and distant North American cities, including New York, Dallas, Boston, Chicago, Atlanta, Washington and Toronto, will increase by nearly 1 million won from the prewar level. Passengers traveling on shorter routes will also face higher fuel surcharges starting next month. "The fuel surcharge is effective based on the ticketing date, and noticed in advance on a monthly basis," Korean Air said in its notification. "When a ticket was rebooked, fuel surcharge will be adjusted to the prevailing rate at the time." Asiana Airlines, the country's second-largest full-service carrier now under the control of Kor

Apr 16, 2026By Park Jae-hyuk

Int'l flight fuel surcharges to hit record high in May

Companies

Major construction firms speed up downsizing workforce

Major construction firms in Korea are cutting staff as the housing downturn persists. Lotte E&C has become the latest example of the trend, launching a voluntary redundancy program. Earlier this week, the company informed employees that those who have worked for more than 15 years or are aged 45 and older are eligible to apply. The program offers compensation worth up to 30 months of base pay, a special bonus of 30 million won ($20,000) and up to 10 million won in tuition support per child. “This program is not just about reducing headcount but about structural reform,” a company official said. “It is a preemptive move to make our organization younger and stronger.” Lotte E&C added that it plans to keep hiring this year, noting that it brought on 39 new employees in the first quarter. Even so, Lotte and other major construction firms continue to scale back their workforces. Last December, Hyundai Engineering introduced a “career rebuilding” program for employees aged 45 to 60, providing financial support for career changes and tuition assistance for their children. POSCO E&C also

Apr 16, 2026By Park Jae-hyuk

Major construction firms speed up downsizing workforce

Companies

US firms now favor Hong Kong over Korea for APAC headquarters: survey

Korea is becoming less attractive as a base for Asia-Pacific headquarters for U.S. companies, with Hong Kong overtaking it, the American Chamber of Commerce (AMCHAM) in Korea said Wednesday. AMCHAM attributed the result partly to Korea's inflexible labor market and regulations that are not aligned with global standards. According to a survey of AMCHAM members, only 11.8 percent of respondents said Korea is the preferred destination for their Asia-Pacific headquarters, while 58.8 percent chose Singapore and 17.6 percent picked Hong Kong. This marks the first time since 2022 that Korea has fallen to third place. After strict lockdown measures in Hong Kong and mainland China during the COVID-19 pandemic, Korea had maintained its ranking in the second spot, surpassing Japan, Hong Kong and China. Until last year, Korea had also hosted the second-largest number of Asia-Pacific headquarters of AMCHAM members, following Singapore. However, Korea has lost that status to Hong Kong this year as well. AMCHAM said it continues to analyze exactly which factors led to the shift, though it views Korea's re

Apr 15, 2026By Park Jae-hyuk

US firms now favor Hong Kong over Korea for APAC headquarters: survey

Companies

Middle East clients halt placing construction orders with Korean firms

The volume of construction orders placed with Korean companies by Middle Eastern clients dropped sharply in the wake of the war in Iran, raising doubts about the government’s goal of securing $50 billion in overseas construction orders this year. Data from the International Contractors Association of Korea released Monday showed that construction orders from the Middle East totaled $29.97 million in March, down 88 percent from the previous month. The region’s share of total overseas orders also plunged to 3.7 percent from 56.1 percent during the same period. With rapidly declining orders from the main market for Korean companies, the overall volume of overseas construction orders in March fell 78.9 percent year-on-year to $810 million. “Korean construction firms have not received any orders from the Middle East this month,” an industry official said. Due to strong demand for plants, roads and power infrastructure, Korean construction firms have long focused on winning projects in the Middle East. Since the outbreak of the war, however, clients there have delayed placing orders for

Apr 14, 2026By Park Jae-hyuk

Park Jae-hyuk

Read more

US warns Korea of Chinese tech reliance, regulatory barriers

Korea, India sign 20 MOUs in steel, shipbuilding, digital services

Samsung SDI to supply EV batteries to Mercedes-Benz

Construction firms hike wages for employees in Middle East

Hanwha calls off request for US Section 301 probes on China, India

Seoul refutes excess capacity, forced labor allegations in letters to USTR

Int'l flight fuel surcharges to hit record high in May

Major construction firms speed up downsizing workforce

US firms now favor Hong Kong over Korea for APAC headquarters: survey

Middle East clients halt placing construction orders with Korean firms

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