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US tariff pressure drags down Kia’s 2025 earnings

Kia’s 2025 earnings fell sharply on sustained pressure from a 25 percent auto tariff in the United States, the carmaker said Wednesday. In a regulatory filing, the carmaker reported solid sales of 114.1 trillion won ($80 billion) last year, up 6.2 percent from the previous year. Its operating profit, however, plunged 28.3 percent to 9 trillion won during the same period. The earnings fall was widely attributable to the tariffs. The U.S. started imposing the 25 percent tariff on Korean carmakers in April last year, and lowered it down to 15 percent in November following a trade agreement between Seoul and Washington. Kia ended up reporting a 2025 operating profit fall of 3.09 trillion won. “We will recover profitability by expanding sales of eco-friendly vehicles, despite lingering challenges from the U.S. tariff and toughening market competition,” an official from Kia said. The carmaker reported robust sales growth of its eco-friendly vehicles in the fourth quarter. Kia said sales for its hybrid cars jumped 21.3 percent between October and December from a year earlier on positive sa

Jan 28, 2026By Lee Min-hyung
US tariff pressure drags down Kia’s 2025 earnings

EcoPro steps up European push with 1st-ever local sales unit

EcoPro is accelerating its global expansion by setting up its first local sales subsidiary in Europe, aiming to strengthen its foothold in the region amid tightening trade regulations and shifting supply chains. The move follows the company’s recent build-out of a manufacturing base in Hungary and is seen as a preemptive response to Europe’s evolving trade environment, while also strengthening direct engagement with key customers. EcoPro said Wednesday it recently carried out an organizational reshuffle and established a European sales subsidiary in Germany, appointing Kimbal Virdi as its head. The new entity is expected to serve as a “European business hub” to identify new business opportunities amid rapid changes in the region’s electric vehicle and battery supply chains. The European market has been undergoing major shifts as automakers move to secure critical materials directly, driven by stricter intraregional sourcing requirements following the enforcement of the European Union’s Critical Raw Materials Act. Against this backdrop, EcoPro plans to leverage its European sa

Jan 28, 2026By Lee Gyu-lee
EcoPro steps up European push with 1st-ever local sales unit

Samsung SDS drives ChatGPT adoption at work

Major information technology (IT) service provider Samsung SDS on Wednesday shared with its employees how the domestic distribution of ChatGPT Enterprise can help companies here innovate office tasks with greater convenience and efficiency. ChatGPT Enterprise is a business-oriented artificial intelligence (AI) platform developed by OpenAI. The American AI research firm selected Samsung SDS as Korea’s official reseller for the AI tool in December. Some 500 employees of the Korean firm joined the Enterprise AI Connect 2026 seminar at the company’s headquarters in Seoul’s Songpa District. Members of the company’s leadership group, along with representatives from OpenAI Korea and Korean firms that have implemented ChatGPT Enterprise in their business operations, participated in the seminar to demonstrate the tool’s strengths. Samsung SDS Executive Vice President and Head of the Cloud Service Division Lee Ho-joon said ChatGPT has enabled the company to execute “AI full-stack strategies” ranging from AI consulting to infrastructure, platforms, data security, model application an

Jan 28, 2026By Ko Dong-hwan
Samsung SDS drives ChatGPT adoption at work

BMW 7 Series tops imported large sedan sales again

BMW Korea’s flagship luxury sedan, the 7 Series, ranked first in sales in Korea’s imported premium large sedan market for the second consecutive year, the carmaker said Wednesday. According to data from the Korea Automobile Importers & Distributors Association, sales of the 7 Series, including the all-electric i7, totaled 5,834 in 2025, up 17 percent from a year earlier. Sales growth was evident across the model’s diverse powertrain lineup, with the BMW 740i xDrive emerging as the top seller at 3,025 sales last year, accounting for more than half of the 7 Series total. Demand for the diesel-powered 740d xDrive remained steady, with sales climbing about 23 percent to 1,654 during the same period. The i7 recorded 706 sales, helping broaden the 7 Series’ footprint in the electric vehicle market, while the plug-in hybrid BMW 750e xDrive posted deliveries of 449 last year. BMW Korea has attributed the sustained success of the 7 Series in the local imported luxury car market to its “power of choice” strategy. As customer preferences evolve and demand for consistent design and premiu

Jan 28, 2026By Lee Min-hyung
BMW 7 Series tops imported large sedan sales again

Tim Hortons to double Korea outlets on localization push

Canadian coffee chain Tim Hortons said Wednesday it will more than double the number of its outlets in Korea to 50 this year, focusing on localization to grow in Asia's fourth-largest economy. Tim Hortons currently operates 24 outlets in Seoul and nearby metropolitan areas after entering the Korean market in December 2023. One of the planned 26 new outlets will be a signature store featuring a significantly expanded menu and larger space, the company said. "Over the past two years, we have identified areas for improvement to better meet the high expectations of Korean consumers," An Tae-yeol, chief brand officer (CBO) of BKR, the operator of Tim Hortons in Korea, said at a press conference. "Starting this year, we will offer customers fresh, high-quality products prepared at Tim's Kitchen," he said. In Korea, Tim Hortons is operated by BKR, which also runs Burger King outlets. To cater to trend-sensitive Korean consumers, the company plans to diversify store formats and develop new menu items beyond its existing coffee and doughnut lineup to include bakery products and desserts, An said. Ba

Jan 28, 2026By Yonhap
Tim Hortons to double Korea outlets on localization push

HD Hyundai mounts push for Canada submarine project

Major Korean engineering conglomerate HD Hyundai is stepping up last-ditch efforts with its key subsidiaries to help Korea win Canada’s new submarine construction project, according to industry sources. The Canadian government has shortlisted Korea and Germany as final contenders before selecting a partner for its next-generation submarine fleet. HD Hyundai Heavy Industries, the group’s shipbuilding arm and a member of the Korean bidding consortium alongside Hanwha Ocean, has presented an extensive package of industrial and technological benefits to Canada. The company has proposed package deals worth trillions of won to support Korea’s bid and strengthen cooperation with Canadian partners. The proposal includes providing technological consulting to Canadian shipbuilders, enabling local shipyards to independently carry out depot-level maintenance and repairs on submarines. HD Hyundai has also offered to transfer key submarine and warship technologies, along with advanced construction know-how for high-end naval assets. In addition, the company has suggested joint research and develo

Jan 27, 2026By Ko Dong-hwan
HD Hyundai mounts push for Canada submarine project

Chinese 'copycat' bagel shop near Korean Provisional Government site sparks backlash

A Chinese bakery mimicking Korea's popular London Bagel Museum has sparked controversy, becoming the latest in a series of “copycat” businesses imitating Korean brands. The controversy centers around a store called New York Bagelous Museum in Shanghai, which critics say replicates the concept of the Korean bagel chain. This follows similar issues involving Chinese retailers like Only Young, described as an imitation of Korea's top health and beauty store, CJ Olive Young. Seo Kyoung-duk, a professor at Sungshin Women's University and a vocal advocate for Korean culture, raised the issue on Facebook on Tuesday. "Many Koreans who visited China have reported this to me," Seo wrote. "A store named New York Bagelous Museum, which mimics a well-known Korean bakery, is blatantly operating in downtown Shanghai." Adding to the controversy is the store's location across from the historic site of the Provisional Government of the Republic of Korea, a significant landmark for the Korean independence movement. "The fact that it sits directly facing the Provisional Government building is causing dis

Jan 27, 2026By Hankookilbo
Chinese 'copycat' bagel shop near Korean Provisional Government site sparks backlash

LG Energy Solution calls for deeper ties with suppliers at Partner’s Day

Major battery developer LG Energy Solution on Monday gathered its suppliers and encouraged deeper partnerships during the company’s annual Partner’s Day. The event, held at the company’s headquarters in Yeouido, Seoul, brought together representatives from about 80 partner firms in battery materials and parts sectors. LG Energy Solution CEO Kim Dong-myung attended the event alongside the company’s chief strategy officer, chief technology officer, chief quality officer and director of procurement, representing the LG Group subsidiary. Kim touted the partner firms’ performances last year despite a challenging economic environment. He praised them for their dedication, noting that their efforts helped LG Energy Solution post increased sales, particularly in the energy storage system (ESS) business, as the company signed multiple large-scale projects last year. “This year, we will not turn a blind eye to the rapidly changing global ESS market. We will secure product diversity and stabilize supply chains. In the electric vehicle (EV) sector, we will strengthen medium- to long-ter

Jan 27, 2026By Ko Dong-hwan
LG Energy Solution calls for deeper ties with suppliers at Partner’s Day

InterviewHyundai Motor workers should upskill to coexist with robots: ILO director

RIYADH, Saudi Arabia — A senior official from the International Labour Organization (ILO) advised Hyundai Motor workers to acquire new skills that will remain essential even after the introduction of Atlas humanoid robots on the carmaker’s assembly lines. Speaking to The Korea Times on the sidelines of the Global Labor Market Conference in Saudi Arabia's capital city of Riyadh on Monday (local time), Lee Sang-heon, director of the ILO's Employment Policy Department, described the Hyundai Motor union’s recent efforts to block the use of artificial intelligence (AI) robots as “unrealistic.” “The union’s protest is a typical bargaining tactic,” he said. “The strategy itself is not surprising, but for workers, finding ways to coexist with robots is a more practical approach.” Lee, the first and only Korean policy director at the Geneva-headquartered United Nations agency, made the remarks as the union engaged in what some observers and Korean news outlets described as a kind of modern-day "Luddism." On Thursday, the union warned that “not a single robot” could be depl

Jan 27, 2026By Park Jae-hyuk
Hyundai Motor workers should upskill to coexist with robots: ILO director

Hanwha signs 5 MOUs with Canadian firms to boost submarine project odds

Hanwha Group has sealed multiple deals with Canadian steel, artificial intelligence (AI), satellite communication and aerospace firms to strengthen bilateral partnerships, as Canada approaches a decision between Korea and Germany for its submarine construction project. The deals signed in Toronto on Monday (local time) were part of a Korea-Canada industrial cooperation forum. A representative of the presidential office and the ministers of industry and defense participated in the event, emphasizing the Korean government’s strong commitment to winning the bidding process. Hanwha Group’s shipbuilding arm, Hanwha Ocean, and defense systems affiliate, Hanwha Systems, jointly signed five memorandums of understanding (MOUs) with Canadian companies. The agreements outline proposals to provide industrial and technological benefits to Canadian firms, aligning with Ottawa’s “Buy Canadian” initiative amid rising global trade protectionism. Hanwha Ocean signed an MOU with Canadian steelmaker Algoma Steel. Under the agreement, the two companies will cooperate on the construction of a new s

Jan 27, 2026By Ko Dong-hwan
Hanwha signs 5 MOUs with Canadian firms to boost submarine project odds
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