Business - The Korea Times

Seoul, Dunamu partner to advance financial literacy for young adults

As digital assets become an increasingly visible part of the financial landscape, Dunamu and the Seoul Metropolitan Government are teaming up to help young people build practical financial skills while learning to navigate emerging technologies and avoid fraud. Dunamu, the operator of the cryptocurrency exchange Upbit, said Friday it signed a memorandum of understanding with the Seoul Metropolitan Government to strengthen financial literacy among young adults and promote a better understanding of digital assets. The agreement was signed Thursday at the Korea Press Center by Yoon Seon-joo, chief brand and impact officer at Dunamu, and Kim Cheol-hee, director general of the Seoul Metropolitan Government's Youth Policy Division. Under the partnership, the two sides will develop a public-private digital finance education model designed to address financial challenges facing young people, including asset building, housing costs and financial decision-making. The program will combine Dunamu's educational content on digital assets and future finance with the city's youth policy infrastructure. T

Jul 10, 2026By Lee Kyung-min

Seoul, Dunamu partner to advance financial literacy for young adults

Samsung, SK face new pressure to expand investment in US

Samsung Electronics and SK hynix are facing renewed pressure to expand their semiconductor manufacturing footprint in the United States, after U.S. Commerce Secretary Howard Lutnick publicly urged the two Korean memory chipmakers to build production facilities there. Lutnick made the remarks Thursday (local time) during a concrete-pouring ceremony for Micron Technology's semiconductor fabrication plant under construction in Clay, New York. His remarks came immediately after Micron unveiled plans to invest approximately $250 billion (377 trillion won) through 2035 to expand its U.S. manufacturing capacity, underscoring the U.S. Donald Trump administration's push to strengthen domestic semiconductor production. Speaking at the event, Lutnick said he has been holding discussions with both Samsung Electronics and SK hynix regarding their U.S. operations, although he declined to provide specific details. The message is widely viewed as signaling Washington's desire for the two Korean companies to establish advanced memory wafer fabrication plants in the U.S., going beyond the investment plans

Jul 10, 2026By Lee Min-hyung

Samsung, SK face new pressure to expand investment in US

Lee calls out IKEA Korea over alleged anti-labor practices

President Lee Jae Myung said Friday that the government will investigate allegations that IKEA Korea demoted an employee and pressured the worker to resign after returning from parental leave, vowing strict action if the allegations are confirmed. "If the allegations are found to be true after a thorough investigation, we will take stern measures in line with international standards," Lee wrote on X, formerly Twitter, as he shared a news report on the case. Lee said some multinational companies regarded as exemplary employers abroad had drawn criticism for adopting opaque management and anti-labor practices in Korea. "That was during a time when the Korean government pursued anti-labor policies and was tainted by corruption," Lee wrote. "Now that Korea is becoming a model society with a government that leads by example, such outdated management practices cannot be tolerated." He added that just as Korean companies should not engage in anti-labor practices overseas, foreign companies should not do so in Korea. The report alleged that IKEA Korea demoted an executive returning from parental

Jul 10, 2026By Ko Dong-hwan

Lee calls out IKEA Korea over alleged anti-labor practices

SK hynix prices its mega US listing at $149 per share

Chipmaker SK hynix Inc. said Friday it will raise about 40 trillion won ($26.5 billion) through the listing of its American depositary receipts (ADRs) on the Nasdaq, marking what would be the world's second-largest equity offering after SpaceX. The offering consists of 177.9 million ADRs priced at $149 each, according to a regulatory filing. Each ADR represents one-tenth of a Seoul-listed common share. The offering is expected to raise $26.51 billion (about 40 trillion won), based on the sale of ADRs backed by 22.5 million common shares. The fundraising target was revised down from the previously announced 43 trillion won. ADRs are negotiable certificates issued by U.S. depositary banks that represent shares in foreign companies, allowing overseas firms to access U.S. capital markets without directly listing their common stock on a U.S. exchange. The listing is expected to become the largest-ever U.S. equity debut by a foreign company, surpassing the $21.8 billion raised by Chinese technology giant Alibaba in its New York initial public offering (IPO). It would also rank as the world's se

Jul 10, 2026By Yonhap

SK hynix prices its mega US listing at $149 per share

L&F emerges as first non-Chinese mass-producer of LFP cathodes

Lithium iron phosphate (LFP) may sound unfamiliar to those not in the rapidly growing field of the global secondary battery market. To L&F President and Chief Finance Officer Yu Sung-hun, the material has become a silver bullet for the company’s next-generation business of manufacturing key components for the batteries, as well as power-saving energy infrastructure that is now experiencing spiking demand worldwide. L&F, based in Daegu with over 20 years of history, has completed everything it needs to start manufacturing LFP for battery cathodes and energy storage systems (ESS) by October. Yu said L&F will be Korea's only LFP manufacturer. In May, the company completed construction on an LFP production plant in Daegu through its wholly owned subsidiary, L&F Plus. The facility will start with an annual production capacity of 30,000 tons, which Yu said will double in the first half of next year. He added that the expansion is a key step in advancing L&F's long-term growth strategy. “LFP is rapidly expanding its application scope to include ESS, industrial mobility and robotics, establ

Jul 10, 2026By Ko Dong-hwan

L&F emerges as first non-Chinese mass-producer of LFP cathodes

Mercedes-Benz Korea's new CEO tasked with recovering EV sales, corporate image

Mercedes-Benz Korea’s new CEO Shirin Emeera faces a dual challenge of reviving the carmaker’s slowing electric vehicle (EV) sales and rebuilding consumer confidence. Since assuming the role on July 1, Emeera has led Mercedes-Benz Korea at a pivotal moment as the German luxury carmaker rapidly loses ground to Tesla and BMW in Korea. A veteran executive with more than two decades of experience, she most recently oversaw dealer network strategy and market management at the company's headquarters in Germany. Industry officials expect her extensive expertise in retail operations and distribution strategy to play a key role in strengthening Mercedes-Benz Korea's newly introduced direct-sales system and restoring sales momentum. Before assuming her current role, Emeera led Mercedes-Benz's operations in Sweden and Denmark, where she successfully guided the brand to the top position in the premium vehicle segment. Her track record has raised expectations that she can successfully steer the Korean unit even amid one of the carmaker's most challenging periods in recent years. One of her immediat

Jul 10, 2026By Lee Min-hyung

Mercedes-Benz Korea's new CEO tasked with recovering EV sales, corporate image

Paradise City receives triple honors in France's La Liste Hotels 2026

Paradise City, an integrated resort complex on Yeongjong Island, Incheon, notched triple honors in the 2026 edition of France’s La Liste hotel rankings, with two of its properties making it into the world’s top 1,000 hotels and winning the Style & Design Hotel Award. Global restaurant, pastry shop and hotel guide La Liste announced this year’s list of top 1,000 hotels and Special Awards for hotels during an awards ceremony in Paris on Wednesday (local time). Art Paradiso, the resort’s lifestyle boutique hotel, made its debut on the list this year, earning a score of 93.5 and tying for sixth place globally alongside Paradise City. The boutique hotel also won the Style & Design Hotel Award 2026, a special distinction presented to hotels recognized for excellence in design, architecture and artistic identity. Only six hotels worldwide received the award this year, with Art Paradiso the only Korean property among the honorees. "The fact that Paradise City hotel and Art Paradiso were recognized together at La Liste Hotels 2026 is a meaningful achievement that demonstrates the competit

Jul 9, 2026By Lee Gyu-lee

Paradise City receives triple honors in France's La Liste Hotels 2026

Nongshim taps New York dining scene for expanded US marketing push

Nongshim said Thursday it is expanding its U.S. marketing push this month with a series of collaborations in New York, including a special menu item with a popular Korean restaurant and a pop-up at the Korean Cultural Center. The largest instant noodles and snack company in Korea is partnering with Atoboy, a Korean restaurant in New York, to serve a Shin Ramyun Pancake throughout July, marking the 40th anniversary of Nongshim's Shin Ramyun brand and Atoboy's 10th anniversary. The dish combines boiled Shin Ramyun noodles pan-fried into a crisp pancake topped with shrimp and cheddar cheese, finished with the noodle seasoning and the restaurant's aged chili oil. Nongshim will also operate a Shin Ramyun snack booth at Atoboy's anniversary celebration July 28 at Radio Park in New York. Separately, Nongshim is working with the Korean Cultural Center New York, under the Ministry of Culture, Sports and Tourism, to run a Shin Ramyun Bunsik booth until Aug. 22 inside a Korean internet cafe-themed event space on the center's second floor. The event is part of the center's 2026 summer culture campai

Jul 9, 2026By Jhoo Dong-chan

Nongshim taps New York dining scene for expanded US marketing push

InterviewKEZAD offers risk buffer for K-biz as Korea-UAE CEPA opens opportunities

As geopolitical tensions around the Strait of Hormuz persist, uncertainty continues to cloud Korea's trade with the Middle East, with businesses here increasingly exploring ways around that risk while looking to best capitalize on growing regional demand for Korean goods. Khalid Al Marzooqi, vice president of Khalifa Economic Zone Abu Dhabi (KEZAD) Group, said the United Arab Emirates and KEZAD are well positioned to support such efforts as regional manufacturing, assembly and distribution hubs for Korean companies, noting that the implementation of the Korea-UAE Comprehensive Economic Partnership Agreement (CEPA) makes this an opportune time for Korean businesses to establish operations there. “Korean businesses are increasingly viewing UAE as an outstanding base for manufacturing location for their global operation and also viewing UAE as a stable, innovation‑driven base for regional and global expansion,” Al Marzooqi told The Korea Times in an interview on Tuesday during his visit to Seoul. “And today we see more interest for production activity, not just export. Companies se

Jul 9, 2026By Nam Hyun-woo

KEZAD offers risk buffer for K-biz as Korea-UAE CEPA opens opportunities

Hyundai Motor Group builds Korea's 1st waste-to-hydrogen complex in Cheongju

Hyundai Motor Group has completed Korea’s first waste-to-hydrogen (W2H) production and refueling complex in Cheongju, North Chungcheong Province, marking a major step in its strategy to build a localized clean hydrogen ecosystem through resource recycling. The company held an opening ceremony Thursday for HTWO ENERGY Cheongju. The facility converts biogas extracted from sewage sludge generated in the city into clean hydrogen, which will be supplied for local consumption under a circular energy model. The carmaker said the project demonstrates a "local production for local consumption" approach by transforming municipal waste into carbon-free energy within the same region. The company plans to expand similar plants across the nation to accelerate the adoption of hydrogen and strengthen regional energy self-sufficiency. "HTWO ENERGY Cheongju represents a circular economy model in which local waste resources are converted into clean hydrogen and consumed within the same community," said Seo Gang-hyun, head of the corporate planning office at Hyundai Motor Group. "Hyundai Motor Group will a

Jul 9, 2026By Lee Min-hyung

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