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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

LS Eco Energy posts 7% operating margin, outpacing industry average

LS Eco Energy is demonstrating clear profitability differentiation, posting an operating margin of around 7 percent in 2025, well above the domestic cable industry’s average of 3 to 4 percent. The cable industry is widely regarded as a low-margin business, as raw materials — particularly copper — account for a large share of manufacturing costs, limiting operating profitability. Against this backdrop, LS Eco Energy’s above-average margin is being viewed by the market not as a one-off earnings boost, but as evidence of structural profitability gains driven by a more advanced business portfolio. The improvement has been supported by growth in extra-high-voltage power cables and expanding overseas supply by LS Eco Energy, particularly in Europe and North America. Extra-high-voltage cables have high technological entry barriers and are typically secured through project-based contracts, allowing for relatively stronger margins. In addition, the company’s rare earth metals and submarine cable businesses are viewed as high-value-added segments capable of delivering double-digit operati

Apr 6, 2026By Park Jae-hyuk
LS Eco Energy posts 7% operating margin, outpacing industry average
Companies

HS Hyosung confident scrapped steel cord deal won’t hurt Umicore joint venture

HS Hyosung Advanced Materials has dismissed concerns over fundraising for its battery materials joint venture with Belgium-based Umicore following the withdrawal of its plan to sell its steel cord business to Bain Capital. The Korean firm emphasized that booming carbon fiber and aramid yarn markets have enabled it to secure sufficient funds for new ventures. “Carbon fiber and aramid yarn are used in the energy, defense, aviation and space industries,” a company spokesperson said Monday. “We have also seen rising revenue from mobility materials used for airbags and car interiors.” The company also claimed steady growth in demand for steel cord, which strengthens tires to withstand the heavier weights of electric vehicles. “Given the recent tensions in the Middle East, we viewed the sale of our steel cord business as a potential risk to the stability of supply chains for our global partners,” it said Friday, confirming the withdrawal and denying any plan to revive the deal. Since January last year, HS Hyosung Advanced Materials had sought to sell its steel cord business for abou

Apr 6, 2026By Park Jae-hyuk
HS Hyosung confident scrapped steel cord deal won’t hurt Umicore joint venture
Companies

Refiners remain cautious over switch to US crude

U.S. President Donald Trump’s recent call for allies to buy crude from his country instead of the Middle East has been considered economically unfeasible from the perspective of Korean oil refiners. Although Korea has been reducing its reliance on the Middle East by increasing imports from the United States, which has become the world’s largest oil producer, refiners cite facilities geared toward heavy crude oil and the longer shipping distance as major obstacles to a complete replacement. “Most Korean refineries are optimized to process heavy crude from the Middle East, though they can blend in some light crude without damaging their facilities,” an official at one of Korea’s major refiners said on condition of anonymity. “For companies to boost U.S. crude imports, they would need large-scale investments to remodel their plants, but that is an excessive burden under the current oil price cap system, which forces them to sell products at a loss.” He added that transporting crude from inland or southern U.S. regions is more expensive. Because very large crude carriers must tr

Apr 3, 2026By Park Jae-hyuk
Refiners remain cautious over switch to US crude
Companies

Korean Air vows faithful response to US lawsuit over in-flight death

Korean Air said Friday it will faithfully respond to legal procedures in the United States, where a lawsuit was filed in Virginia on behalf of the estate of Porscha Tynisha Brown, who died at age 33 in March 2024 during a flight from Washington to Incheon operated by the airline. Burns Charest, the law firm representing the complainants, claimed her death resulted from a series of critical failures by Korean Air flight personnel. According to the complaint, Brown experienced sudden respiratory distress about 12 hours into the flight, telling her traveling companions and crew members, "I can't breathe," before collapsing. "Although flight attendants provided what they claimed to be an oxygen mask, after the flight, eyewitnesses discovered the mask was never connected to an oxygen supply, leaving Ms. Brown without the life-saving oxygen she urgently needed," the complaint reads. The law firm said flight personnel stood by and watched as untrained passengers were unable to operate the machine, even after the aircraft's automated external defibrillator indicated that a shock was necessary to

Apr 3, 2026By Park Jae-hyuk
Korean Air vows faithful response to US lawsuit over in-flight death
Companies

EXPLAINER Why new US trade barrier report unconvincing from Korea’s perspective

The release of the 2026 National Trade Estimate (NTE) Report on Foreign Trade Barriers by the Office of the United States Trade Representative (USTR) on Tuesday did not appear to surprise the Korean government, given its subdued reaction to the annual publication. Although this year’s report includes three more pages describing Korea’s trade environment compared to last year’s, government officials said they do not take it seriously. The Ministry of Agriculture, Food and Rural Affairs regarded this year’s report as largely similar to previous editions in its references to agriculture-related issues. Once again, the U.S. questioned Korea’s imports of beef and horticultural products as well as its approval process for agricultural biotechnology products. Newly added to this year’s report were concerns over Korea’s tariff-rate quota administration for soybeans and the suspended auction of U.S. table rice since November 2023. The auction resumed in February after a two-year suspension that lasted through last December. “The NTE report is more like a customary collection of com

Apr 3, 2026By Park Jae-hyuk
[EXPLAINER] Why new US trade barrier report unconvincing from Korea’s perspective
Companies

GS Global CEO buys back company shares to show confidence in long-term growth

GS Global CEO Kim Sung-won purchased 40,000 shares of the trading firm for about 104 million won ($68,000), shortly after his appointment to the position at the general shareholders’ meeting on March 26, the company’s regulatory filing showed Thursday. Kim began his career as a government official in 1992 and previously worked for POSCO and Doosan Heavy Industries, now renamed as Doosan Enerbility. Since joining GS Group in 2021, he has served as an executive overseeing the energy business at several affiliates. GS Global said Kim’s share buyback reflects his determination to address the company’s undervaluation and confidence in its long-term growth potential. “My decision was based on confidence in the company’s future growth,” Kim said. “I will continue to strive to enhance shareholder value and ensure responsible management.” The company said more executives and employees will join in share buyback. Last year, GS Global reported 4.1 trillion won in sales and 52.3 billion won in operating profit, amid tighter global trade regulations and sluggish growth in major econo

Apr 2, 2026By Park Jae-hyuk
GS Global CEO buys back company shares to show confidence in long-term growth
Companies

KGCCI to help bolster Korea-Germany ties through APK 2026

Antonio Randazzo has seen firsthand the strong business ties between Korea and Germany as a company executive. Now, he is devoting himself to further strengthen the relations between the two countries. With his appointment last December to co-chair the Korean-German Chamber of Commerce and Industry (KGCCI) alongside Deutsche Bank Seoul Chief Country Officer Park Hyun-nam, the Star Truck Korea CEO is preparing to boost Korea-Germany economic cooperation through the Asia-Pacific Conference of German Business (APK) 2026, which will take place in Seoul from Oct. 29 to 31. "APK 2026 will be more than a conference," he said during a recent interview with The Korea Times. "It will be a milestone moment for Korean-German economic relations, demonstrating how our two innovation-driven economies can work together to address global challenges and shape the industries of the future." Since 1986, the conference has been held biennially in major Asia-Pacific cities, gathering business leaders and policymakers from across the region. The 2024 event in India brought together over 800 delegates, including

Apr 2, 2026By Park Jae-hyuk
KGCCI to help bolster Korea-Germany ties through APK 2026
Companies

KCC reverses paint price hike after antitrust probe

KCC, a leading paint manufacturer, scrapped its plan to raise paint prices Wednesday, becoming the latest company to align with the government’s push to curb inflation. “We decided to withdraw the plan to help ease consumers’ financial burden in line with the government’s price stabilization policy,” a company official said. “Although our current pricing structure results in losses with each sale, we plan to explore ways to minimize losses while closely monitoring market conditions and managing our pricing policy with the utmost caution.” KCC earlier notified its distributors of plans to raise product prices by 10 to 40 percent starting April 6, citing rising petrochemical costs following the war in Iran. However, the company reversed its decision after the Fair Trade Commission (FTC) conducted on-site inspections last month at the Korea Paint & Printing Ink Industry Cooperative, the KCC headquarters and four other paint makers. The antitrust regulator suspected collusion among the companies before their series of price hike announcements. Industry officials expect other pain

Apr 1, 2026By Park Jae-hyuk
KCC reverses paint price hike after antitrust probe
Companies

PHOTO Women ambassadors learn K-beauty

Korea Importers Association (KOIMA) Chairwoman Youn Young-mi, sixth from left, and Kolmar BNH President Yoon Yea-won, ninth from left, pose with women ambassadors in Korea at Kolmar Korea's R&D Complex in Seoul, Monday. KOIMA said Wednesday that Kolmar introduced Korean cosmetics and dietary supplements to the ambassadors. Courtesy of KOIMA

Apr 1, 2026By Park Jae-hyukphoto
[PHOTO] Women ambassadors learn K-beauty
Companies

Korea steps up push for Canadian submarine deal during Ottawa trade mission visit

Korea continued with efforts to persuade Canada to place an order for 12 new patrol submarines worth 60 billion Canadian dollars ($43 billion), as Ottawa dispatched a trade mission to Seoul this week. Arranging a closed-door meeting Tuesday between Industry Minister Kim Jung-kwan and Canada’s International Trade Minister Maninder Sidhu for discussion on energy security, the Ministry of Trade, Industry and Resources said Kim underscored the importance of the submarine deal in strengthening industrial ties between the two countries in strategic sectors. According to the ministry, Kim also reiterated Hyundai Motor’s plan to establish hydrogen infrastructure in Canada as an example of bilateral cooperation, while asking for the submarine order in return for Korean investment. “If Canada’s vast resources are paired with Korea’s manufacturing capabilities in this era of uncertainty, both nations can build a resilient supply chain capable of withstanding global challenges,” Kim said in a press release. With major energy firms from both nations attending the meeting, the ministers al

Mar 31, 2026By Park Jae-hyuk
Korea steps up push for Canadian submarine deal during Ottawa trade mission visit
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