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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.

Activist fund-sponsored ISS seminar raises neutrality questions

A planned seminar in Seoul by Institutional Shareholder Services (ISS), the world’s largest proxy adviser for institutional investors, is raising questions over the firm's neutrality, as the event is sponsored by a local activist fund. According to industry officials, the U.S. advisory firm will hold its first seminar in Korea at IFC Seoul in Yeouido on Feb. 12, weeks before Korean companies begin their annual general meetings and decide whether to accept shareholder proposals. The event is hosted by Bside Korea, the operator of a local shareholder platform that received seed investment from the activist fund Align Partners in 2021. Align Partners is sponsoring the seminar. With more than 1,700 global institutional investors as clients, ISS wields substantial influence at key moments in shareholder decision-making, including governance issues and mergers. In the Korean market, it has particular influence over foreign investors, who have relatively limited access to information about the companies they invest in. In 2019, ISS played a critical role in helping Hyundai Motor and Hyundai Mo

Feb 4, 2026By Nam Hyun-woo
Activist fund-sponsored ISS seminar raises neutrality questions

LG Energy Solution to supply ESS batteries to Hanwha Qcells

LG Energy Solution said Wednesday it has signed a multiyear agreement to supply batteries for energy storage system (ESS) projects to the U.S. arm of Hanwha Solutions, expanding cooperation to localize production and reduce exposure to tariffs and policy risks. Industry sources estimate the contract’s value at around 1.5 trillion won ($1.15 billion). Under the deal, LG Energy Solution’s wholly owned subsidiary, LG Energy Solution Vertech, will provide 5 gigawatt-hours of lithium iron phosphate battery energy storage systems to Hanwha Qcells USA for utility-scale solar projects between 2028 and 2030. The agreement also includes lifecycle services for the storage systems. The deal builds on earlier battery purchase contracts signed in May 2024, under which Qcells secured 4.8 gigawatt-hours of battery energy storage systems from LG Energy Solution Vertech for U.S. projects. The ESS batteries will be produced at LG Energy Solution’s Michigan facility, while Hanwha Qcells will manufacture solar modules in Georgia, allowing the entire value chain to be localized in the United States. The

Feb 4, 2026By Nam Hyun-woo
LG Energy Solution to supply ESS batteries to Hanwha Qcells

Hyundai Motor reshapes overseas portfolio toward future mobility

Hyundai Motor Group is overhauling its overseas operations to prioritize future mobility technologies, while scaling back investments in conventional sales areas. Following last month’s CES tech fair, the carmaker is presenting itself not as a conventional automaker, but as a tech firm driving future mobility in the age of physical artificial intelligence (AI). The move is clear when looking at the company’s latest overseas business realignment. The group made headlines after deciding not to repurchase its factory in Russia, a move that officially ends its manufacturing presence in the country amid persistent geopolitical risks tied to the Russia-Ukraine war. In December 2023, the carmaker sold its 100 percent stake in the St. Petersburg plant to a Russian firm for just 140,000 won ($96), with a buyback option allowing Hyundai to repurchase the facility within two years. That option expired at the end of January. Hyundai Motor and Kia were the top-selling carmakers in Russia together before the war broke out in 2021. Their combined market share reached 23.6 percent that year, but afte

Feb 4, 2026By Lee Min-hyung
Hyundai Motor reshapes overseas portfolio toward future mobility

Samsung Electronics' market cap tops $688 bil. during intraday trading

The market capitalization of Samsung Electronics surpassed the landmark 1,000 trillion won ($688 billion) for the first time as a Korean business Wednesday as its shares continued to rally amid a global artificial intelligence (AI) boom. The market cap of Samsung Electronics reached around 1,002 trillion won during the session, with its shares climbing to 169,400 won in intraday trading, up 1.13 percent from the previous session's close, according to the Korea Exchange. The Korean tech giant has been setting new records since its shares surpassed the 100,000-won threshold on Oct. 27, as the global race to invest in AI infrastructure has led to a sharp rise in chip demand. Industry watchers expect Samsung Electronics to maintain solid performance going forward, with the company set to expand its presence in the premium high bandwidth memory (HBM) sector. Samsung Electronics posted record operating profit and sales in the fourth quarter of 2025. For all of 2025, the tech giant reported net income of 45.2 trillion won, up 31.2 percent from a year earlier.

Feb 4, 2026By Yonhap
Samsung Electronics' market cap tops $688 bil. during intraday trading

Baedal Minjok rolls out Japanese, Chinese, English ordering options

Major online food ordering platform Baedal Minjok, also known as Baemin, now supports English, Japanese and Chinese, anticipating growth in its foreign customer base in Korea. Baemin operator Woowa Brothers said Wednesday that the updated platform allows users to set their preferred language from the three options. The multilingual support is available on both Android and iOS devices. The app prompts users with a pop-up notice to adjust their language settings on mobile devices, regardless of whether the operating system is set to Korean or another language. With the update, Baemin now allows users to search, select a restaurant and menu items, pay and check real-time delivery progress in those languages. Woowa Brothers said it implemented a large language model-based generative artificial intelligence (AI) to introduce the new language services. The company said the approach enables a more “comprehensive and precise use of words and sentences, rather than simply borrowing phrases translated word for word.” Woowa Brothers said it will continue to update the platform so that the langu

Feb 4, 2026By Ko Dong-hwan
Baedal Minjok rolls out Japanese, Chinese, English ordering options

Hyundai Rotem wins $220.6 mil. deal for 32 light-rail trams from Edmonton

Hyundai Rotem, the defense and train subsidiary of Hyundai Motor Group, said Wednesday it has won a 320 billion-won ($220.6 million) deal to supply 32 trams for a light-rail transit system in the city of Edmonton in Canada. Under the deal signed Tuesday (local time) in Edmonton, Hyundai Rotem's high-floor light-rail vehicles (LRVs) will be deployed on the Capital and Metro lines in the capital of Alberta, the company said. Hyundai Rotem plans to deliver all vehicles under the contract sequentially through 2032. Some of the trams will replace LRVs currently in operation, while others will support service expansion to meet growing commuter demand. The vehicles are equipped with energy-efficient technologies and advanced temperature control systems capable of maintaining comfortable interior conditions even in temperatures as low as minus 40 degrees Celsius, the company said. They also feature a forward collision warning system to enhance passenger and pedestrian safety. The latest deal follows Hyundai Rotem's separate 218.8 billion-won contract in 2021 to supply low-floor LRVs for the Valle

Feb 4, 2026By Yonhap
Hyundai Rotem wins $220.6 mil. deal for 32 light-rail trams from Edmonton

Korean Air expands Japan routes, eyes regional cities

Korean Air is stepping up its expansion of Japan-bound routes, aiming to capture an increase in demand and reinforce its profitability in a key market. While increasing capacity on major routes, the airline is placing particular emphasis on expanding services to smaller regional cities in Japan, where competition remains limited. Starting March 29, Korean Air will increase flights on the Incheon–Aomori route to five round-trips per week from three, operating daily except Tuesdays and Saturdays. It will be the first time since the route’s launch in 1995 that flights have been offered at this frequency. The route will also see an aircraft upgrade to a mid-size jet with 182 seats, replacing the previous 158-seat plane to increase passenger capacity. The expansion follows strong demand on the Aomori route. Korean Air exclusively operates the Aomori route, allowing it to maintain stable fares without the discount-price pressure seen on major routes such as Tokyo, Osaka and Fukuoka. The Aomori route recorded an average seat occupancy rate of 82.6 percent last year, placing it among Korean A

Feb 4, 2026By Lee Gyu-lee
Korean Air expands Japan routes, eyes regional cities

Hyundai Steel begins mass production of low-emission steel sheets

Hyundai Steel has begun mass production of low-emission steel sheets that cut carbon emissions by more than 20 percent compared with products made solely through conventional blast furnace processes, as the company steps up efforts to meet tightening environmental regulations. According to the steelmaker Wednesday, it has successfully commercialized the world’s first hybrid process that combines molten iron produced by an electric arc furnace (EAF) with that from a blast furnace, leveraging its accumulated expertise in both technologies. Hyundai Steel has been conducting stability and quality verification tests at its steel mill in Dangjin, South Chungcheong Province, since April 2023 ahead of operating the hybrid EAF-blast furnace process and entered full-scale mass production this month. The company has completed grade certification for 25 steel products manufactured using the new process, including two types of low-emission steel sheets that recently entered mass production. It plans to secure certification for an additional 28 products within the year, expanding the total to 53 ce

Feb 4, 2026By Park Jae-hyuk
Hyundai Steel begins mass production of low-emission steel sheets

HD Hyundai impresses Canada's defense delegation in Korea's sub bid

Canada's defense delegation got a firsthand look at HD Hyundai's naval ship technologies, which the top delegate described as "amazing," during their visit to the company's headquarters, Wednesday. The delegation's visit was made ahead of Ottawa's upcoming decision on a contractor to supply next-generation patrol submarines for the Royal Canadian Navy. A Korean consortium led by Hanwha Ocean and HD Hyundai Heavy Industries (HHI) was shortlisted as a final contender for the bid. The company said that Park Yong-yeol, head of HD HHI's Naval Ship Business Unit, welcomed the delegation including Stephen Fuhr, Canada's secretary of state for defense procurement, at the company headquarters in Seongnam, Gyeonggi Province. He introduced the shipbuilder's destroyers, frigates, submarines and unmanned surface vessels, as well as its artificial intelligence-powered autonomous navigation technology. According to HD Hyundai, Fuhr showed a keen interest in the Korean firm's naval ship technologies and potential partnership for the submarine project, saying, "Amazing — I literally feel like I'm in t

Feb 4, 2026By Park Jae-hyuk
HD Hyundai impresses Canada's defense delegation in Korea's sub bid

Samsung Heavy partners with Qatar's QSTS for ship conversion cooperation

Samsung Heavy Industries said Wednesday it has partnered with a Qatari shipyard to cooperate on ship conversion and aftermarket services as part of its global expansion strategy. Under a memorandum of understanding (MOU) signed on the sidelines of the international trade fair LNG 2026 in Doha, Qatar, Samsung Heavy and Qatar Shipyard Technology Solutions (QSTS) agreed to expand cooperation in ship conversion and aftermarket services, according to the Korean shipbuilder. QSTS, a subsidiary of Qatar's state-run shipping company Nakilat, is one of the leading shipyards in the Middle Eastern country, providing ship repair and maintenance services. The two companies plan to further collaborate on conversion projects involving eco-friendly facilities, including decarbonization solutions, energy efficiency improvements and onboard carbon capture equipment, as well as digital technologies. They also intend to explore cooperation in small marine projects and special purpose vessels. Samsung Heavy said the partnership with QSTS is expected to help the company respond more actively to business opport

Feb 4, 2026By Yonhap
Samsung Heavy partners with Qatar's QSTS for ship conversion cooperation
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