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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.

Ex-Doosan chairman details human lives during 1st solo photo exhibition

Park Yong-maan, a former chairman of Doosan Group, one of Korea’s oldest conglomerates, has made a surprising debut as a photographer, capturing vivid human moments in his first solo exhibition in Seoul. Titled "Human Moment," the photo exhibition opened to the public Friday, showcasing a total of 80 photos taken over the past five decades. The exhibition runs through Feb. 15. Park, who turned 71 this year, started taking photos in 1975. When he was younger, he dreamed of becoming a photojournalist, but as was the case in most family-controlled conglomerates, his father strongly opposed the idea. Park ultimately went on to take the helm of the group. It took decades for him to realize his long-cherished dream of becoming a photographer. In 2022, he ceased all his management activities with Doosan Group after selling all of his shares in the company. “I picked warm and peaceful photos with traces of human beings, and most of them are ones that make me want to look again,” Park said. “I have no regrets in becoming a photographer now.” He collected most of the photos for the exhibi

Jan 19, 2026By Lee Min-hyung
Ex-Doosan chairman details human lives during 1st solo photo exhibition

Owner family to sell $1.92 bil. stake in Samsung Electronics to pay inheritance taxes

The family of late Samsung Group Chairman Lee Kun-hee plans to sell stake in Samsung Electronics worth 2.85 trillion won ($1.92 billion), regulatory filings showed Sunday, in an apparent bid to pay inheritance taxes. Hong Ra-hee, the widow of the late business tycoon and an honorary director of the Leeum Museum of Art, signed a deal on Jan. 9 to sell 15 million shares in Samsung Electronics through Shinhan Bank, according to regulatory filing. The shares were valued at about 2.85 trillion won based on the company's closing price of 139,000 won on the day the deal was signed. The block sale is widely seen as aimed at paying inheritance taxes totaling 12 trillion won following Lee's death in October 2020. Since then, members of the controlling family have been paying their inheritance taxes in installments over a five-year span that started in April 2021. The final payment is due in April.

Jan 18, 2026By Yonhap
Owner family to sell $1.92 bil. stake in Samsung Electronics to pay inheritance taxes

Cheong Wa Dae cautions against Coupang probe spilling into trade row with US

Cheong Wa Dae said Sunday that Korea's ongoing probe into Coupang should not be interpreted as part of a broader trade issue with the United States because the case involves an "unprecedented" scale of personal data leakage. Coupang, a U.S.-listed e-commerce operator, has been under investigation by Korean authorities over a leak of personal information affecting about 34 million customers late last year. The company, founded by Korean American entrepreneur Kim Bom-suk, also known as Bom Kim, generates about 90 percent of its sales in South Korea. "The Coupang incident involves an unprecedented scale of personal data leakage, and relevant authorities are conducting investigations in line with applicable laws," a senior presidential official said. "It would be inappropriate to interpret the matter as a Korea-U.S. diplomatic or trade issue, and we plan to continue explaining this position to the U.S. side," the official added. The remarks came after some U.S. lawmakers claimed that Korean regulators were targeting U.S. technology firms, including Coupang, raising concerns over possible dis

Jan 18, 2026By Yonhap
Cheong Wa Dae cautions against Coupang probe spilling into trade row with US

Number of firms in S. Korea's free economic zones rises 4%; investment jumps 14%

The number of companies operating in South Korea's free economic zones rose 4.4 percent from a year earlier in 2024, driving gains in employment and investment, the industry ministry said Sunday. A total of 8,590 companies were operating in the country's free economic zones at the end of 2024, up from 8,228 firms a year earlier, according to data from the Ministry of Trade, Industry and Resources. Employment at those firms increased 8.8 percent on-year to 254,775 people as of end-2024, while investment climbed 14.4 percent to about 5.9 trillion won (US$3.99 billion). By region, the free economic zone in the western city of Incheon accounted for the largest share of tenant companies at 44.9 percent, followed by the one in Busan and Jinhae in the southern region at 28.4 percent, and the zone in the southeastern city of Daegu and North Gyeongsang Province at 12.2 percent. Foreign-invested companies totaled 690, up 8.2 percent from a year earlier, while their foreign direct investment rose 4.3 percent to 3.8 trillion won. "Free economic zones continue to show steady growth, and are strengthen

Jan 18, 2026By Yonhap
Number of firms in S. Korea's free economic zones rises 4%; investment jumps 14%

Korea pins hopes on US pledge of ‘no less favorable’ chip tariffs

The government has been scrambling to calm concerns that Korean chipmakers could face unfavorable treatment under the U.S. semiconductor tariffs, as their Taiwanese rivals have already won exemptions in return for massive investments in the United States. Citing Washington’s pledge of “no less favorable” treatment for Korea’s chip exports, Seoul’s presidential office vowed Sunday to ensure Samsung Electronics and SK hynix are not disadvantaged against Taiwan Semiconductor Manufacturing Co. (TSMC) in the U.S. market. “The government plans to communicate with companies and talk with the U.S., while thoroughly analyzing the agreement between the U.S. and Taiwan,” Cheong Wa Dae told reporters. “The government will talk with the U.S. to minimize impacts on Korean companies, in accordance with the principle of ‘no less favorable’ treatment stated in the Korea-U.S. joint fact sheet.” When Seoul and Washington signed the fact sheet last November to lower U.S. tariffs on Korean goods from 25 percent to 15 percent in exchange for Korea’s $350 billion investment in the U.S.,

Jan 18, 2026By Park Jae-hyuk
Korea pins hopes on US pledge of ‘no less favorable’ chip tariffs

KCCI chair expects Schengen-style pact between Korea, Japan to add $2 bil. in value

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won has called for the need for a bilateral passport-free travel agreement between Korea and Japan, saying such a move could generate massive economic synergies for both countries. In a televised show, Sunday, the KCCI chief presented the proposal as an option to invigorate the sagging economy, underscoring an approach that both countries are a “unified economic community.” “Once Korea and Japan sign a Schengen-style agreement like in the European Union (EU), it would create added value worth 3 trillion won ($2.03 billion),” he said. The Schengen Area refers to a travel zone in Europe that uses a common visa policy for international travel, allowing citizens and visitors to move freely across most internal borders within the EU and participating nations without passport checks. “We should think of the two countries as one single economic community,” he said. “This could create more economic synergies for both countries.” He also said that an “excessively high” number of economic rules in Korea creates risk

Jan 18, 2026By Lee Min-hyung
KCCI chair expects Schengen-style pact between Korea, Japan to add $2 bil. in value

Hyundai, Kia post record US market share in 2025 despite Trump tariffs

Hyundai Motor and its sister Kia posted a record combined market share in the United States in 2025, buoyed by expanded local production and strong hybrid vehicle sales, despite Washington's aggressive tariff measures, officials said Sunday. The two South Korean automakers sold a combined 1.84 million vehicles in the U.S. last year, accounting for a record market share of 11.3 percent, according to data from market watcher Wards Intelligence and industry sources. Hyundai accounted for 6.1 percent of the U.S. market with sales of 984,017 units, while Kia held a 5.2 percent share with 852,155 vehicles sold. The motor group ranked fourth in the U.S. market last year, trailing General Motors at 17.5 percent, Toyota Motor Corp. at 15.5 percent and Ford Motor Co. at 13.1 percent. The market share growth was attributable to its marked sales expansion. Total U.S. auto sales rose 2.4 percent to 16.23 million vehicles in 2025, while Hyundai and Kia sales climbed 7.5 percent. Analysts also pointed out that the group benefited from a flexible production strategy and a decision to absorb tariff-related

Jan 18, 2026By Yonhap
Hyundai, Kia post record US market share in 2025 despite Trump tariffs

Jipyeong Brewery expects record 2025 sales with steady popularity of makgeolli

Major Korean makgeolli maker Jipyeong Brewery said Friday it expects record sales in 2025, cementing its position in the country’s traditional fermented rice alcoholic beverage market. The company said it expects to extend its streak of record annual revenue to a 16th consecutive year, a run that began after it posted 200 million won ($135,740) in sales in 2010. The company noted that the financial result is meaningful as it came amid a protracted slowdown in Korean liquor industries. Jipyeong in 2024 posted 46.9 billion won in sales and 3.7 billion won in operating profit. Alongside its rising revenue, the company has maintained operating profit in the range of 3.6 billion won to 7 billion won over the past five years, indicating relatively stable profitability. Jipyeong said the consistent sales growth over 16 years proves the company did not rely on any popular hit product or trend. It said the performance rather was due to the firm’s structural competitiveness across ingredients, quality and logistics. It also attributed its steady growth to its expansion into overseas markets. J

Jan 16, 2026By Ko Dong-hwan
Jipyeong Brewery expects record 2025 sales with steady popularity of makgeolli

Hanwha insurers invest combined $67.85 mil. in CHA Biotech

Hanwha Group’s two insurance units committed a total of 100 billion won ($67.85 million) to invest in CHA Biotech, part of a strategic investment to find synergy between digital healthcare and insurance. According to CHA Biomedical Group, Friday, Hanwha General Insurance and Hanwha Life Insurance will participate in CHA Biotech’s third-party rights issuing, purchasing new shares of the biopharmaceutical firm worth 70 billion won and 30 billion won, respectively. Through the investment, the insurers seek to combine their insurance business infrastructure with CHA Biotech’s digital healthcare capabilities and explore new business opportunities. The companies said the investment will strengthen mid- to long-term cooperation by linking healthcare and financial services, while gradually expanding a life cycle-based value chain. The announcement came a day after IT service firm LG CNS decided to make a 10 billion won equity investment in CHA Biotech. CHA Biomedical Group said the investments will help stabilize its financial structure and generate broader synergies across the healthcare

Jan 16, 2026By Nam Hyun-woo
Hanwha insurers invest combined $67.85 mil. in CHA Biotech

Coupang voucher draws mixed response after rollout

Coupang’s compensation vouchers for customers following a data breach that affected 33.7 million users went into effect on Thursday, drawing mixed reviews. The vouchers, which can be used across Coupang’s multiple shopping platforms, have pleased some customers with discount bargains. Others, however, have criticized the move as a sales tactic rather than proper compensation and said they would continue their boycott of the e-commerce giant. The voucher package, totaling 50,000 won ($34) per each customer, was distributed to Coupang's paid membership users, regular users and former customers who have closed their accounts. The package consists of 5,000 won in coupons for Coupang's e-commerce platform, 5,000 won for food delivery service Coupang Eats, 20,000 won for Coupang travel products and 20,000 won for R.LUX luxury beauty and fashion items. This invited criticism, because the two 20,000 won vouchers can only be used on its less popular platforms, with just 5,000 won offered for Coupang and Coupang Eats. Unlike initial criticisms, some reviews by shoppers who used the compensatio

Jan 16, 2026By Ko Dong-hwan
Coupang voucher draws mixed response after rollout
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