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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Coupang's interim CEO undergoes 14-hour questioning over perjury allegations

Harold Rogers, interim CEO of Coupang Corp., returned early Saturday after a 14-hour police questioning over allegations he committed perjury while testifying before the National Assembly in December. Rogers is accused of lying under oath during a hearing from Dec. 30 to 31 on Coupang's massive data breach that has affected more than 33 million customers in South Korea. He told lawmakers that Coupang conducted its own probe into a Chinese national suspected of involvement in the data breach and confiscated his laptop at the instructions of the National Intelligence Service, South Korea's spy agency. Police were expected to interrogate Rogers about the allegations. Appearing from the Seoul police investigative headquarters in Mapo at 3:25 a.m., Rogers left without answering questions from reporters. Rogers has been questioned twice in a week as police hone in on the data breach case belatedly disclosed by the U.S.-listed e-commerce giant in November. Police will likely bring him in for another round of interrogation over suspicions of a cover-up in connection with the death of a Coupang wor

Feb 7, 2026By Yonhap
Coupang's interim CEO undergoes 14-hour questioning over perjury allegations

Victims of Coupang data leak file class-action lawsuit in US court, seeking punitive damages

NEW YORK/WASHINGTON — A group of victims of a massive data leak involving e-commerce giant Coupang Inc. filed a class-action lawsuit in a New York court Friday to seek punitive damages, their legal representatives said. Led by two Korean Americans surnamed Lee and Park, the group filed the suit against the U.S.-listed firm and its founder Kim Bom-suk in the U.S. District Court for the Eastern District of New York, claiming that Coupang failed to fulfill its obligation to protect personal data and take appropriate security steps. SJKP Law Firm LLP, a U.S. subsidiary of Daeryun Law Firm LLC, is presenting the case. The lawsuit did not indicate the specific number of plaintiffs in the case, but an SJKP lawyer said that more than 7,000 people affected by the data leak have contacted the law firm regarding the class-action suit. The legal case is expected to proceed separately from the lawsuits filed against Coupang in South Korea and in a California court. The Seoul government has been conducting a probe into the data leak incident involving Coupang, in which about 33.7 million customers ar

Feb 7, 2026By Yonhap
Victims of Coupang data leak file class-action lawsuit in US court, seeking punitive damages

Skepticism persists over EcoPro BM despite 2025 profit rebound

EcoPro BM continues to face skepticism over the growth potential of its earnings and stock price, even after returning to profit in 2025, just a year after posting an annual operating loss. Attributing the earnings recovery to the reversal of an inventory write-down during the fourth quarter of last year, securities analysts warned Friday that the Korean battery materials producer will continue to struggle to improve its revenue this year. The rapid surge in its stock price earlier this month was merely seen as a result of the Lee Jae Myung administration’s efforts to boost the tech-heavy secondary Kosdaq market. “With investors betting on potential government policies to stimulate the Kosdaq market, the price increase was largely driven by inflows to exchange-traded funds rather than expectations for a recovery in the rechargeable battery sector,” said iM Securities analyst Chung Won-suk, who advised investors to neither buy nor sell EcoPro BM shares. “The company turned a profit mainly because it adjusted the useful life of its tangible assets, which reduced depreciation costs

Feb 7, 2026By Park Jae-hyuk
Skepticism persists over EcoPro BM despite 2025 profit rebound

Samsung chief seen attending dinner hosted by IOC president in Milan

Samsung Electronics Chairman Lee Jae-yong has attended a dinner hosted by the head of the International Olympic Committee (IOC) on the occasion of the 2026 Milan-Cortina Winter Olympics, industry sources said Friday. Lee attended the event hosted by IOC President Kirsty Coventry in Milan on Thursday (local time), on the eve of the Winter Olympics, along with other prominent figures, including U.S. Vice President JD Vance, according to the sources. He left South Korea a day earlier for Italy to hold meetings with international business and sports officials during the quadrennial sporting event, which is set to kick off later Friday. The trip follows Lee's visit to the Paris Olympics in 2024, when he attended a gathering of global business leaders at the Elysee Palace at the invitation of French President Emmanuel Macron. Samsung Electronics has been a Worldwide Olympic Partner since 1998.

Feb 6, 2026By Yonhap
Samsung chief seen attending dinner hosted by IOC president in Milan

LG Energy Solution to take full control of Canadian battery JV with Stellantis

LG Energy Solution said Friday it will acquire the full stake in its joint venture with multinational automaker Stellantis, making the firm a wholly owned subsidiary. In a regulatory filing, the Korean battery maker said it will acquire Stellantis’ 49 percent stake in NextStar Energy for just $100, effectively gaining full ownership of the joint venture originally established in 2022 in Ontario, Canada. Industry analysts described the deal as highly favorable, noting that Stellantis’ initial investment in the joint venture totaled $980 million. This means LG Energy Solution secured a fully operational factory at a fraction of the cost. LG Energy Solution plans to use the NextStar Energy facility as a key production hub for energy storage system (ESS) batteries, targeting the rapidly growing North American ESS market. Despite the ownership change, LG and Stellantis will continue their business cooperation, with Stellantis still set to receive electric vehicle (EV) batteries produced at the Canadian plant. “Full ownership of NextStar Energy will enable us to respond swiftly to growi

Feb 6, 2026By Kang Seung-woo
LG Energy Solution to take full control of Canadian battery JV with Stellantis

Luxury carmakers toughen efforts in race for electric SUVs

Korea’s imported car market is shaping up to be a battleground for electric SUVs, as global automakers rush to roll out high-performance, premium all-electric cars with strong commercial appeal this year. German luxury brands, such as BMW and Mercedes-Benz, are set to lead the trend, with other overseas carmakers jumping on the bandwagon with their new electric models. BMW Korea plans to launch the all-new iX3 in the second half of this year, marking the first mass-produced model featuring the carmaker’s next-generation “Neue Klasse” electric platform. Designed for efficiency, the electric SUV boasts a driving range of up to 805 kilometers under European standards and supports ultrafast charging via an 800-volt high-voltage system. BMW aims to apply the Neue Klasse platform to about 40 new and upgraded models by 2027, a strategy intended to rapidly expand its electric vehicle (EV) lineup and secure a competitive edge in the upcoming era of EVs. Mercedes-Benz Korea is also scheduled to launch its all-electric premium compact SUV, the GLC with EQ Technology. The vehicle was ranked a

Feb 6, 2026By Lee Min-hyung
Luxury carmakers toughen efforts in race for electric SUVs

Possible US 25% tariff puts Hyundai, Kia earnings under pressure

Hyundai Motor Group is growing increasingly anxious over the possible reinstatement of a 25 percent U.S. tariff on Korean-made vehicles, a move that could cost Hyundai Motor and Kia a combined 11 trillion won ($7.48 billion) annually, according to market estimates. The renewed trade pressure from Washington comes amid heightened scrutiny of Korea’s investigation into Coupang, a U.S.-headquartered e-commerce firm — a dispute that industry officials and analysts fear could spill over into broader trade measures affecting Korean automakers. Korean automakers are currently subject to a 15 percent tariff after Seoul and Washington reached a bilateral trade agreement last November. However, the Donald Trump administration has warned it could restore the tariff rate to 25 percent on Korean-made vehicles, citing delays in Korea’s legislative process to implement the deal. A return to the higher tariff would significantly weigh on Hyundai Motor Group’s earnings. According to Daol Investment & Securities, Hyundai Motor and Kia would face a combined annual cost of about 11 trillion won if

Feb 6, 2026By Lee Min-hyung
Possible US 25% tariff puts Hyundai, Kia earnings under pressure

Coway logs 15% revenue growth in 2025 on strong domestic, overseas demand

Coway posted double-digit revenue growth in 2025, supported by strong domestic demand and continued expansion in overseas markets, the company said Friday. The home appliance maker reported consolidated revenue of 4.96 trillion won ($3.7 billion) for the year, up 15.2 percent from a year earlier. Operating profit rose 10.5 percent to 878.7 billion won. Fourth-quarter revenue climbed 13.3 percent year-on-year to 1.28 trillion won, while operating profit edged down 1 percent to 181.6 billion won. “Despite persistent global economic uncertainties, Coway was able to achieve both growth and profitability by strengthening its core capabilities, expanding its product portfolio and reinforcing its research and development,” CEO Seo Jang-won said. The company attributed its performance to a mid- to long-term strategy focused on product innovation, entry into new business areas and expansion of its global footprint, a direction set out by Netmarble and Coway Chairman Bang Jun-hyuk. Coway’s domestic business generated revenue of 2.87 trillion won in 2025, an 11 percent increase from the previo

Feb 6, 2026By Nam Hyun-woo
Coway logs 15% revenue growth in 2025 on strong domestic, overseas demand

Hanwha Aerospace, KAI forge MOU for joint UAV, aircraft projects

Hanwha Aerospace and Korea Aerospace Industries (KAI) have tentatively agreed to pursue joint future projects under a goal to strengthen the competitiveness of Korea's defense sector, the companies said Friday. Under a memorandum of understanding (MOU) signed Thursday, the two sides plan to seek joint projects, including the development and exports of unmanned aerial vehicles (UAVs), and aircraft equipped with domestically produced engines. The partnership is expected to create strong synergies, as KAI is Korea's sole full-scale aircraft developer, while Hanwha Aerospace is the country's leading aircraft engine producer. The companies said their cooperation could extend to the development of advanced aircraft engines for future KF-21 fighter jets, as well as joint expansion into the global UAV market. Top executives from the companies will hold regular joint meetings to establish a cooperation framework aimed at reducing unnecessary competition and building a win-win growth model for Korea's aerospace and defense industry, according to the firms.

Feb 6, 2026By Yonhap
Hanwha Aerospace, KAI forge MOU for joint UAV, aircraft projects

KT&G's Q4 net falls 15.7% on reduced FX gains

KT&G, Korea's leading tobacco company, said Thursday its fourth-quarter net profit fell 15.7 percent from a year earlier, due to reduced foreign-exchange valuation gains. Net profit for the three months ended in December declined to 274.2 billion won ($186.9 million) from 325.1 billion won a year earlier, the company said in a regulatory filing. "Foreign-exchange valuation gains declined in the fourth quarter from a year earlier as the won strengthened against the dollar during the period," a company spokesperson said. The dollar stood at 1,434.90 won at the end of December, down from 1,470 won a year earlier, according to data from the Bank of Korea. A stronger won reduces the value of dollar-denominated earnings when converted into the local currency. Operating profit rose 17 percent to 248.8 billion won in the December quarter from 212.5 billion won a year earlier, while sales increased 10.1 percent to 1.71 trillion won from 1.56 trillion won. For the full year, net income fell 6.1 percent to 1.09 trillion won from 1.16 trillion won the previous year. Operating profit rose 13.5 percent

Feb 5, 2026By Yonhap
KT&G's Q4 net falls 15.7% on reduced FX gains
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