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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.

BYD Korea aims to sell 10,000 units in 2026 on expanded lineup

BYD Korea, the Korean unit of Chinese electric vehicle (EV) maker BYD, said Tuesday it seeks to sell over 10,000 vehicles here this year, marking a 64 percent spike from its 2025 sales on expanded product lineup. In its first year of operations in Korea in 2025, BYD Korea sold a total of 6,107 passenger vehicles, according to the company. "While 2025 was a honeymoon period during which BYD worked closely with its dealer partners to lay the groundwork, this year will mark the first year of its full-fledged leap in Korea's passenger car market," it said in a press release. BYD currently offers three models in Korea: the Atto 3 compact sport utility vehicle (SUV), the midsize Seal sedan and the midsize Sealion 7 SUV. The Chinese automaker said it plans to add three more models to its lineup this year: a rear-wheel-drive version of the Seal, the Dolphin compact hatchback and a Dual Mode intelligent (DM-i) model equipped with BYD's plug-in hybrid electric vehicle (PHEV) technology. To boost sales, BYD plans to expand its retail network to 35 showrooms and 26 after-sales service centers by the

Jan 27, 2026By Yonhap
BYD Korea aims to sell 10,000 units in 2026 on expanded lineup

SK hynix becomes sole supplier of HBM for Microsoft AI chips: sources

SK hynix has been named the exclusive supplier of high-bandwidth memory (HBM) for U.S. tech giant Microsoft's latest artificial intelligence (AI) chip, sources said Tuesday. According to the sources, the Korean chipmaker was tapped as the sole supplier of HBM3Es, the fifth-generation of HBM, for Microsoft's Maia 200 accelerator designed for the U.S. company's AI data centers. Microsoft, which did not clarify its HBM supplier in its release, described Maia 200 as "the most efficient inference system" the company has ever deployed, noting it is already installed at its data center in Iowa. The latest deal comes amid intensifying competition between Samsung Electronics and SK hynix in the application-specific integrated circuit (ASIC) sector, which refers to custom chips designed for particular applications, such as those ordered by Google, Microsoft and Amazon. Sources said Nvidia and AMD have recently completed quality tests of Samsung Electronics' sixth-generation HBM4 products, with official supply slated to begin next month. SK hynix, meanwhile, is gearing up for full-fledged production

Jan 27, 2026By Yonhap
SK hynix becomes sole supplier of HBM for Microsoft AI chips: sources

Korean industries becoming resilient against Trump's tariff tantrums

Despite U.S. President Donald Trump’s threat Monday (local time) to impose fresh tariffs, adding uncertainty for Korean industries, the country’s industrial sector and stock market showed signs of growing resilience to trade pressure from Washington. Analysts and industry officials said Tuesday the latest threat is likely to be resolved in the short term, noting that Trump took issue with the slow progress in implementing the Korea-U.S. trade agreement, which depends on the domestic Korean political process. Industry sources said companies increasingly share the view that the more they respond to tariff issues, the worse the situation tends to become, adding that tariff-related uncertainty has effectively become the new norm in their operations. Trump said in a Truth Social post that he is raising auto tariffs and other "reciprocal" tariffs on Korea to 25 percent from 15 percent, claiming that the Korean legislature has not yet completed the process to implement the countries' bilateral trade deal reached last November. Following Trump’s announcement, the stock prices of Hyundai Mo

Jan 27, 2026By Nam Hyun-woo
Korean industries becoming resilient against Trump's tariff tantrums

PR ONE signs exclusive partnership with PROI Worldwide in Korea

PR ONE, an integrated communications firm in Korea, said Tuesday it has signed an exclusive partnership with PROI Worldwide, the world’s fifth-largest communications group by revenue, becoming PROI’s sole partner in Korea. The deal aims to strengthen PR ONE’s global competitiveness by combining its local market expertise with PROI’s international network, supporting both foreign companies entering Korea and Korean firms expanding overseas. PROI Worldwide operates a network of 90 independent agencies in 65 countries across North America, Latin America, Europe, Asia-Pacific, the Middle East and Africa. “Our partnership with PROI marks an important milestone in our global expansion,” said Cho Jae-hyung, CEO of PR ONE. “We aim to build scalable business models and accelerate growth.” Angela Scaffidi, global chair of PROI Worldwide, said PR ONE’s market insight and track record align well with PROI’s global strategy. Founded in 2006, PR ONE has completed more than 2,200 projects and provides services including media relations, crisis management, integrated marketing communi

Jan 27, 2026By Kang Seung-woo
PR ONE signs exclusive partnership with PROI Worldwide in Korea

SK Innovation E&S begins production at Australian gas field

SK Innovation E&S, the energy unit of Korea's SK Group, said Tuesday it has begun production at an offshore gas field in Australia in which it invested 14 years ago. The initial cargo of liquefied natural gas (LNG) produced at the Barossa gas field, located about 300 kilometers off Australia's northwestern coast, has been transported to the nearby Darwin LNG terminal and shipped to Japan, the company said in a press release. The milestone marks the first time a Korean private-sector company has achieved LNG production through an overseas resource development project. Starting with the initial output, SK Innovation E&S is expected to secure 1.3 million tons of LNG annually from the Barossa field over the next 20 years, equivalent to about 3 percent of Korea's annual LNG imports, it said. "The projected LNG volumes will help both the company and the country better cope with uncertainties in the global energy market, which is vulnerable to geopolitical risks, such as international disputes," a company official said. SK Innovation E&S acquired a 37.5 percent stake in the Barossa gas field in

Jan 27, 2026By Yonhap
SK Innovation E&S begins production at Australian gas field

POSCO Future M bets on US solid-state battery firm Factorial

POSCO Future M said Tuesday it has made a strategic investment in U.S.-based solid-state battery developer Factorial to secure an early foothold in the next-generation battery market. The company said it signed an investment agreement with Factorial on Jan. 7 and completed the capital injection on Monday. The investment builds on a memorandum of understanding the two companies signed in November to jointly develop all-solid-state battery technology, further strengthening their partnership. All-solid-state batteries replace the liquid electrolyte in conventional lithium-ion batteries with a solid material, making them safer and capable of storing more energy and charging faster. The technology is widely seen as a potential game changer for electric vehicles and robotics. POSCO Future M said the investment will help it prepare for the rapid growth of the solid-state battery market, while Factorial expects to secure a stable supply of high-quality battery materials and enhance its manufacturing competitiveness. Headquartered in Massachusetts, Factorial is regarded as a leading player in the

Jan 27, 2026By Nam Hyun-woo
POSCO Future M bets on US solid-state battery firm Factorial

Samsung Electronics unveils Olympics edition of Galaxy Z Flip 7

Samsung Electronics showcased its Galaxy Z Flip 7 Olympic Edition on Tuesday, introducing features aimed at enhancing athletes' experience during the upcoming Winter Olympics in Italy. The device will be provided to around 3,800 athletes from 90 countries participating in the Milan-Cortina Winter Olympics and Paralympics, which will kick off Feb. 6, the Korean tech giant said. The new edition of the Galaxy Z Flip comes with a design reflecting "cultural resonance of Italian azure" and "the spirit of unity and sportsmanship embodied by the Olympic Games," the company said. "The custom gold metal frame symbolizes athletes' pursuit of excellence and podium moments, as well as the brand's aspiration for the best," it added. Samsung said athletes can utilize various cutting-edge features on the device to communicate with other participants, including its interpretation app and the Galaxy Athlete Card, which allows them to easily exchange profiles. With the smartphone, Samsung Electronics said it will run a "Victory Selfie" event, under which medal winners will take selfies on the podium. Profes

Jan 27, 2026By Yonhap
Samsung Electronics unveils Olympics edition of Galaxy Z Flip 7

Toff Mobility eyes regional airports for electric aircraft operations

YANGYANG, Gangwon Province — Electric aircraft operator Toff Mobility on Monday flew its Velis Electro aircraft from Yangyang International Airport on the eastern coast of Gangwon Province, marking the first time an electric plane has taken off from a commercial airport in Korea. The aircraft flew for about 15 minutes, circling above the airport while being buffeted by gusts that slightly shook the plane. Powered by two fully charged lithium-ion batteries, it can fly for up to 80 minutes and cover a distance of about 200 kilometers. The demonstration followed the Korea Institute of Aviation Safety Technology’s certification of the plane’s commercial license last November under the Ministry of Land, Infrastructure and Transport. It came after the commercialization of electric aviation in Europe and Australia in 2020 and in the United States in 2024. Jaden Jung, CEO of Toff Mobility, said the flight marked “a new milestone in the Korean aviation industry.” Meanwhile, inside the airport terminal, the scene was nearly deserted, with only two passenger flights scheduled to depart. T

Jan 27, 2026By Ko Dong-hwan
Toff Mobility eyes regional airports for electric aircraft operations

Hyundai chair joins Korean delegation to push Canada submarine deal

Hyundai Motor Group Executive Chair Chung Euisun joined a Korean government delegation to assist Korean shipbuilders’ bid to supply patrol submarines for the Royal Canadian Navy. According to industry and government officials, Chung flew to Canada on Monday to join the delegation comprised of government officials including presidential chief of staff Kang Hoon-sik and Industry Minister Kim Jung-kwan. Hanwha Group Vice Chairman Kim Dong-kwan and Joo Won-ho, head of HD Hyundai Heavy Industries' (HD HHI) Naval & Special Ship Business Unit, will also join the delegation. Hanwha Group’s shipbuilding arm, Hanwha Ocean, has formed a consortium with HD HHI to bid on Canada’s Patrol Submarine Project (CPSP), a 60 billion Canadian dollar ($43 billion) program to procure 12 diesel submarines for the Royal Canadian Navy. If the bid succeeds, Hanwha Ocean will take the lead in the project, while HD HHI will serve in a supporting role. After Canadian authorities recently shortlisted the Hanwha consortium and Germany’s TKMS, Hanwha Ocean and the Korean government have been mobilizing all possi

Jan 26, 2026By Nam Hyun-woo
Hyundai chair joins Korean delegation to push Canada submarine deal

FTC halts Affinity’s plan to combine Korea’s top 2 car rental firms

Korea’s Fair Trade Commission (FTC) has blocked a private equity firm’s plan to effectively combine SK Rent-a-Car and Lotte Rental, the top two players in the domestic rent-a-car market, citing concerns over reduced competition. The antitrust watchdog said Monday, it rejected Affinity Equity Partners’ proposal to acquire a 63.5 percent stake in Lotte Rental, the biggest rent-a-car company here, because the move would place the industry’s top two players under Affinity’s control and significantly limit competition. Affinity, which acquired No. 2 player SK Rent-a-Car in August 2024, signed a deal in March last year to purchase the controlling stake in Lotte Rental at around 1.6 trillion won ($1.1 billion) and filed a combination notice with the antitrust watchdog. The deal initially sparked expectations for a car rental giant, but the FTC decided to ban it after nearly 10 months of review. This is the first case of the FTC blocking an acquisition since March 2024. The deal had also been viewed as playing a critical role in improving Lotte Group’s financial structure, as the con

Jan 26, 2026By Nam Hyun-woo
FTC halts Affinity’s plan to combine Korea’s top 2 car rental firms
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