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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.

Hyundai Motor Group chair wraps up hectic schedule in China, US, India

Hyundai Motor Group Executive Chair Chung Euisun has completed his hectic overseas business schedule in China, the United States and India to solidify the carmaker's position in three of the world’s most influential economies, the company said Wednesday. Chung began the year by accompanying President Lee Jae Myung on a state visit to China, where he met with top executives in the mobility industry, including CATL Chairman Zeng Yuqun, and discussed comprehensive partnerships with Chinese counterparts in areas such as mobility, hydrogen and batteries. He then flew to Las Vegas to attend the CES 2026 tech fair. He held a high-profile meeting with Nvidia CEO Jensen Huang on the sidelines of the event and explored cutting-edge technologies. Hyundai Motor Group also participated in CES and received attention for its display of diverse robot products, such as Boston Dynamics’ Atlas humanoid robot and the four-legged robotic dog, Spot. Chung also exchanged ideas and vision on the group’s mid- to long-term growth strategy by holding its annual Global Leaders Forum in Las Vegas. A group of 1

Jan 14, 2026By Lee Min-hyung
Hyundai Motor Group chair wraps up hectic schedule in China, US, India

MBK avoids immediate fallout with warrant denial, but uncertainty lingers

MBK Partners has avoided the worst-case scenario of a leadership vacuum after the court rejected a prosecution request for warrants to detain Chairman Michael ByungJu Kim and three other executives over allegations of fraudulent corporate rehabilitation at Homeplus, industry officials said Wednesday. The ruling allows efforts to normalize Homeplus, which is undergoing a court-led rehabilitation process, to continue. However, concerns remain over the normalization of its operations, as legal risks surrounding the private equity firm, the largest shareholder of the country’s second-largest supermarket chain, have not been fully resolved. The charges against Kim and other executives could still be upheld in future court proceedings. The uncertainty is being compounded by the Financial Supervisory Service’s (FSS) move to pursue “severe” disciplinary measures, including the suspension of duties for MBK executives. Earlier in the day, Seoul Central District Court dismissed prosecutors’ request to detain Chairman Kim, MBK Vice Chairman and Homeplus CEO Kim Kwang-il, MBK Vice Presiden

Jan 14, 2026By Jun Ji-hye
MBK avoids immediate fallout with warrant denial, but uncertainty lingers

Hanwha to split into 2 holding firms through spin-off

Hanwha Corp., the holding firm of Hanwha Group, will spin off its machinery and services businesses into a separate holding company to strengthen expertise across its business lines, the conglomerate said Wednesday. It will also cancel treasury shares worth 456.2 billion won ($308.7 million) to improve shareholder value. The Hanwha Corp. board approved the plan during a meeting Wednesday. The plan will be voted on during an extraordinary shareholder meeting in June, and the spin-off is expected to be completed by July. According to the plan, the new holding firm will be named Hanwha Machinery & Service Holdings, controlling the group's tech and life service affiliates. Tech affiliates include Hanwha Vision, Hanwha Momentum, Hanwha Semitech and Hanwha Robotics, while life service firms include Hanwha Galleria, Hanwha Hotels & Resorts and Ourhome. Hanwha Corp. will maintain its control on its defense and heavy industry units, including Hanwha Aerospace, Hanwha Ocean and Hanwha Systems. Financial affiliates such as Hanwha Life Insurance, Hanwha General Insurance and Hanwha Investment & Secu

Jan 14, 2026By Nam Hyun-woo
Hanwha to split into 2 holding firms through spin-off

Newly launched HD Construction Equipment aims for $6 bil. in 2026 revenue

HD Construction Equipment, launched Jan. 1 through the merger of HD Hyundai Infracore and HD Hyundai Construction Equipment, announced Wednesday that it aims to post 8.7 trillion won ($5.9 billion) in revenue and 439.6 billion won in operating profit this year. When HD Hyundai unveiled the merger plan last July, the conglomerate said the new entity would generate more than 14 trillion won in annual revenue by 2030. The combined revenue of HD Hyundai Infracore and HD Hyundai Construction Equipment in 2025 is estimated at around 7.9 trillion won. “With the swift execution of our mid- to long-term strategy and the creation of synergy from the merger, we will outperform the market,” HD Construction Equipment CEO Moon Jae-young told institutional investors during the announcement of the company's plan. “We will actively invest in facilities and technology development to strengthen the core competitiveness of our business.” HD Construction Equipment cited its recent success in securing large-scale orders in emerging markets. The company said it recently signed contracts with gold mine d

Jan 14, 2026By Park Jae-hyuk
Newly launched HD Construction Equipment aims for $6 bil. in 2026 revenue

Asiana Airlines begins operations at Incheon Terminal 2

Asiana Airlines on Wednesday began its operations at Incheon International Airport’s Terminal 2, wrapping up its 25-year operation at Terminal 1. At 4:55 a.m. Wednesday, OZ177, which departed from Tokyo Haneda Airport, arrived at Terminal 2, becoming the first Asiana flight to arrive at Terminal 2. The first flight that departed from Terminal 2 was OZ112, which jetted off to Osaka at 7:06 a.m. At Terminal 2, Asiana Airlines passengers can check in at counters G to J, with the G counters reserved for bag drop only and the J counters for business class passengers and elite members. Asiana passengers can also use four Korean Air lounges in Terminal 2. The relocation came as the carrier gears up for its merger into Korean Air, which has been using Terminal 2 since 2018. Since August, Asiana Airlines has run a dedicated team to ensure a smooth transition and operates an information desk in Terminal 1 for the next two weeks to assist passengers who arrive at the wrong terminal. Asiana Airlines said it is also working with the airport to run emergency shuttle services between terminals for pa

Jan 14, 2026By Nam Hyun-woo
Asiana Airlines begins operations at Incheon Terminal 2

Cyberattack at Kyowon exposes over 9 mil. user accounts to possible breach: sources

Korean cybersecurity authorities estimate that around 9.6 million accounts may have been affected by a recent cyberattack at Kyowon Group, a local education service provider, informed sources said Wednesday. The estimate by a government investigation team that includes the Korea Internet & Security Agency comes after Kyowon Group reported a possible breach on Monday, saying it had detected traces of a ransomware attack. Kyowon said it became aware of abnormal activities in its internal system Saturday and later identified a possible data breach. The authorities estimate that 600 of the company's 800 servers fall within the scope of the breach. The investigation team estimates Kyowon Group's eight affiliates held 13 million members in total, a figure that narrows to 5.54 million after removing overlaps. The 9.6-million estimate counts users holding more than one account. As Kyowon Group operates a wide range of businesses, including tutoring, home appliance rentals and funeral services, experts said the number of victims could be substantial. Kyowon Group has yet to confirm whether its memb

Jan 14, 2026By Yonhap
Cyberattack at Kyowon exposes over 9 mil. user accounts to possible breach: sources

Korean chipmakers face lawsuit strain from US 'patent trolls'

Patent claims filed by Non-Practicing Entities (NPEs) in the United States are emerging as a risk for Korean chipmakers, as Washington is increasingly leaning in favor of patent holders, forcing companies to incur greater legal costs by defending themselves against so-called “patent trolls.” The U.S. Patent Trial and Appeal Board (PTAB) on Friday (local time) rejected two petitions filed by SK hynix in August 2025 seeking to invalidate patents held by Advanced Memory Technologies, an NPE which has been staging patent battles against a series of Korean IT companies. PTAB has put SK hynix’s two petitions, known as inter partes reviews (IPRs), into “Not Instituted” status, meaning the challenges were rejected without a review process. The board had rejected three other SK hynix IPRs in December. Advanced Memory Technologies filed a patent infringement suit with the U.S. District Court for the Eastern District of Texas in December 2024, claiming that SK hynix had infringed on five of its patents for dynamic random access memory and flash memory technologies. IPR was introduced in 2

Jan 14, 2026By Nam Hyun-woo
Korean chipmakers face lawsuit strain from US 'patent trolls'

US lawmaker accuses Korean regulators of 'discriminatory' actions against Coupang

WASHINGTON — A U.S. lawmaker claimed Tuesday that South Korean regulators appear to be "aggressively" targeting Coupang Inc., a U.S.-listed firm, through "discriminatory" actions, as the e-commerce giant is under intense scrutiny in Seoul over a massive customer data leak. Rep. Adrian Smith (R-NE), chair of the trade subcommittee of the House Ways and Means Committee, made the claim during a hearing, as Korean Trade Minister Yeo Han-koo was in Washington to address growing U.S. concerns over South Korea's regulatory efforts over online platform firms and the Coupang case. "Korean regulators already seem to be aggressively targeting U.S. technology leaders," he said. "One example would be Coupang through discriminatory regulatory actions." Smith pointed out last year's joint fact sheet on trade and security agreements between Seoul and Washington, which included a shared commitment to ensuring that U.S. companies are not discriminated against and do not face unnecessary barriers from laws and policies concerning digital services. "Unfortunately, it's my observation that Korea continues

Jan 14, 2026By Yonhap
US lawmaker accuses Korean regulators of 'discriminatory' actions against Coupang

MBK chairman avoids detention in Homeplus rehabilitation probe

MBK Partners Chairman Michael ByungJu Kim avoided detention Wednesday as the Seoul Central District Court dismissed prosecutors’ request for a warrant to detain him on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Capital Markets Act, in connection with Homeplus’ controversial court-led rehabilitation filing. The warrants were also denied for MBK Vice Chairman and Homeplus CEO Kim Kwang-il, MBK Vice President Kim Jeong-hwan and Homeplus Chief Financial Officer Lee Sung-jin on the same charges. Judge Park Jung-ho, who presided over detention hearings, said, “Although the alleged harm is undeniably serious, the evidence submitted so far does not sufficiently substantiate the charges to warrant detention.” He added that, given the degree of proof and the stage of the investigation, the case does not justify detention on the grounds of possible evidence tampering or flight. "The suspects should instead be given adequate opportunity to defend themselves while not in custody,” he said. Regarding the court ruling, MBK, the

Jan 14, 2026By Jun Ji-hye
MBK chairman avoids detention in Homeplus rehabilitation probe

BBQ chicken boss donates $750,000 to alma mater to help aspiring entrepreneurs

Emphasizing a deeper managerial pool — not larger cash reserves — as a potential buffer against economic uncertainties, Genesis BBQ Chairman Yoon Hong-geun recently donated 1 billion won ($750,000) to his alma mater, Chosun University, to support programs aimed at educating the next generation of entrepreneurs. Genesis BBQ Group said the funds will be used by the private university in Gwangju to expand education and research infrastructure, improve learning environments, and support programs aimed at cultivating globally competitive experts. Genesis BBQ, founded in 1995 as a fried chicken restaurant in Gyeonggi Province, now runs nearly 4,000 outlets in 57 countries. With Korea’s market nearing saturation, Yoon is betting on skilled employees to keep Genesis BBQ competitive. Yoon said the contribution was intended to return the support he received as a student and to help build a foundation for aspiring young people to succeed internationally. Genesis BBQ’s initiatives extend beyond Korea. In 2023, the company visited the Culinary Institute of America to take part in discussions o

Jan 14, 2026By Kim Hyun-bin
BBQ chicken boss donates $750,000 to alma mater to help aspiring entrepreneurs
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