Business - The Korea Times

CES 2026 Samsung, LG chiefs to make global debut at CES 2026 amid AI push, China challenge

LAS VEGAS — Samsung Electronics CEO Roh Tae-moon and LG Electronics CEO Lyu Jae-cheol will make their official global debuts at this week’s CES 2026 in Las Vegas, as the two Korean tech giants seek to reinforce their leadership in the global TV and home appliance markets amid intensifying competition from Chinese rivals. CES 2026, the world’s largest consumer electronics and IT exhibition, is scheduled to run from Tuesday to Friday (local time). Industry watchers are closely following the event, as both companies recently appointed new leaders through year-end executive reshuffles and face mounting pressure to accelerate artificial intelligence (AI)-driven transformations while improving profitability. According to industry sources, Roh will take the stage as the keynote speaker at Samsung Electronics’ “First Look” event on Sunday, two days ahead of the official opening of CES. It will be held at a large-scale, stand-alone exhibition space set up at the Wynn Las Vegas, rather than Samsung’s traditional venue at the Las Vegas Convention Center. Samsung’s dedicated exhibit

Jan 4, 2026By Kang Seung-woo

[CES 2026] Samsung, LG chiefs to make global debut at CES 2026 amid AI push, China challenge

Industry argues policy against fried chicken 'shrinkflation' ineffective

A government regulation requiring some fried chicken franchise chains to disclose the precooked weight of chicken in an order, aimed at curbing "shrinkflation" is drawing criticism from the industry, which argues the measure is ineffective and unfair. Shrinkflation is the practice of reducing the size or quantity of a product while prices stay the same. Under the labeling system introduced by the Ministry of Food and Drug Safety last month, 10 companies, including the country’s three largest brands — BHC, Genesis BBQ and Kyochon — are required to display the weight of chickens prior to cooking to correctly inform customers of portion sizes. Industry players, however, say the system fails to provide consumers with a clear picture of how much chicken they actually receive, citing differences in labeling methods and cooking practices across brands. One issue is that the weight of the chicken before cooking does not reflect the amount of food ultimately consumed, with inedible parts such as bones and excess fat removed during preparation. The application of seasoning and batter, as we

Jan 3, 2026By Ko Dong-hwan

Industry argues policy against fried chicken 'shrinkflation' ineffective

Shinsegae’s Twelve sparks Erewhon copycat debate online

SEATTLE — Shoppers in the U.S. may not have set foot inside Shinsegae’s new luxury store Twelve, but photos circulating online have been enough to spark copycat claims. Much of the debate centers on the luxury store’s striking resemblance to Erewhon, the Los Angeles grocer that has become known as an ultra-premium name in wellness retail. Images of Twelve’s sleek interiors, pastel-toned smoothies and wellness branding have spread quickly across Korean blogs and social media, with the conversation quickly reaching U.S. audiences familiar with Erewhon’s look and pricing. Bloggers and online users argue that the similarities go beyond global trends, pointing instead to excessive parallels in concept, visual language and product mix. “My first reaction was, ‘This is Erewhon,’” one blogger wrote, adding that the store’s overall mood and concept felt immediately familiar. Much of the discussion has centered on Twelve’s smoothie bar, where brightly colored drinks priced at around 28,000 won ($20) quickly drew comparisons to Erewhon’s famously expensive offerings, particu

Jan 3, 2026By Jane Han

Shinsegae’s Twelve sparks Erewhon copycat debate online

Korea’s instant noodles break from ‘cheap food’ image

Instant noodles under Korea’s major brands are growing more expensive, shedding a long-held image as an affordable staple that represented cheap, mass-produced meals for decades. The latest price increases are being driven largely by premium product lines. Nongshim’s Shin Ramyun Black, a spinoff of its flagship Shin Ramyun, is currently sold at convenience stores for 1,900 won ($1.40) per packet. When it was first released in 2011, the price was 1,600 won. The company also launched Shin Ramyun Gold on Friday to mark the 40th anniversary of its founding. Priced at 1,500 won, the new product features a chicken-based broth. Samyang 1963, a revamped version of Samyang Foods’ original Samyang Ramen that returned to domestic shelves last November, is also priced at 1,900 won. The company upgraded the country’s first mass-produced instant noodle by using beef tallow to create a soup flavor closer to traditional beef broth. Paldo’s Sang Namja Ramen Garlic Spicy Flavor, a premium edition of its signature Namja Ramen, was released last month at 1,700 won per packet. Premium instant noodle

Jan 2, 2026By Ko Dong-hwan

Korea’s instant noodles break from ‘cheap food’ image

Celltrion completes acquisition of US biopharmaceutical plant

Celltrion Inc., a major Korean biopharmaceutical company, has completed the acquisition of a biopharmaceutical manufacturing plant in the United States, the company said Friday, paving the way for local contract manufacturing deals under tariff-free conditions. Celltrion USA Inc., the company's U.S. unit, finalized the deal to acquire the 460 billion-won ($317 million) facility in New Jersey from U.S. drugmaker Eli Lilly and Company (LLY), the company said in a press release. Following the acquisition, Celltrion has signed a contract manufacturing organization (CMO) agreement worth 678.7 billion won to produce biopharmaceutical products for Eli Lilly for three years through 2029, it added. "The U.S. acquisition was aimed at proactively responding to rapidly changing biopharmaceutical markets. The company plans to expand the facility to secure additional global CMO contracts," a company official said. On Wednesday, Celltrion projected its annual operating profit would exceed 1 trillion won for the first time this year, driven by strong sales of high-margin biosimilar products. In his New Y

Jan 2, 2026By Yonhap

Celltrion completes acquisition of US biopharmaceutical plant

Questions raised over TCL’s RGB mini LED TV marketing

Controversy has emerged over alleged false advertising involving a budget red, green and blue (RGB) mini LED TV released by Chinese TV manufacturer TCL. According to a report Thursday by market research firm Omdia, TCL’s budget RGB mini LED TV uses two blue chips and one green chip, but lacks a dedicated red chip. RGB TVs are designed to independently control red, green and blue backlights, a method widely regarded as enabling superior color reproduction and higher brightness compared with conventional white LED-based TVs. Omdia analyzed TCL’s budget model, the Q9M, saying it uses a combination of blue and green chips with red phosphors, rather than pure RGB chips, to lower production costs. Red chips are far more expensive than blue or green chips, prompting TCL to standardize the use of cheaper blue and green chips and rely on red-emitting phosphors to produce red light. Despite lacking a dedicated red chip, TCL continues to market the TV as an RGB mini LED model. “Even RGB mini LED TVs using pure RGB chips made by Chinese manufacturers have already drawn criticism over picture qua

Jan 2, 2026By Kang Seung-woo

Questions raised over TCL’s RGB mini LED TV marketing

Samsung Heavy wins $499 mil. LNG ship order in Oceania

Samsung Heavy Industries said Friday it has secured a 721.1 billion-won ($499 million) deal to build two liquefied natural gas (LNG) ships for a shipper in Oceania. The two vessels are scheduled to be delivered to the undisclosed client by September 2028, the company said in a press release. With the deal secured Wednesday, the shipbuilder said it received orders worth $7.9 billion in 2025, exceeding the previous year's total of $7.3 billion. As of the end of 2025, Samsung Heavy had an order backlog of 133 ships valued at $28.6 billion. "We exceeded expectations last year by focusing on winning orders for high value-added vessels," a company official said. "We expect a steady flow of orders amid recovering demand for LNG carriers throughout the year."

Jan 2, 2026By Yonhap

Samsung Heavy wins $499 mil. LNG ship order in Oceania

Bain Capital to acquire parent company of athleisure brand Andar

Bain Capital LP said Friday it plans to acquire EcoMarketing, the parent company of local athleisure brand Andar. The Boston-based private equity fund said it plans to purchase a stake of around 44 percent in EcoMarketing through a special purpose company (SPC), while the remaining amount will be acquired through a tender offer at 16,000 won ($11) per share. EcoMarketing holds a 57 percent stake in Andar, a popular gym wear brand, of which products are sold in countries that include Japan, Australia and Singapore. Andar has recently launched a new athleisure brand in the United States.

Jan 2, 2026By Yonhap

Law protecting street vendors holds back retail giants as e-commerce booms

A 15-year-old Korean law designed to protect small, self-employed vendors in traditional street markets from large superstore chains, is now stifling offline distributors as they struggle to keep up with fast-growing e-commerce platforms, leading to growing calls to modernize the outdated law. Under the Distribution Industry Development Act, mandatory closures, limits on operating hours, and other regulations on big-box retailers were scheduled to expire automatically after a set date unless renewed in November last year, but the National Assembly pushed the expiration date back to 2029. Introduced in 2010 and extended in 2015, 2020 and again last year, the measure will now be in force for nearly 20 years. While some support the law for its original intent, others argue that it has undermined the competitiveness of major offline supermarkets like Emart and Homeplus, while simultaneously driving up consumer demand for online platforms such as Coupang. Experts say the restrictions on offline distributors should be eased to create a fairer market environment for both offline retailers and

Jan 2, 2026By Ko Dong-hwan

Law protecting street vendors holds back retail giants as e-commerce booms

Newly merged HD Construction Equipment aims for $10.3 bil. in sales by 2030

HD Hyundai Group’s construction equipment subsidiaries, HD Hyundai Construction Equipment and HD Hyundai Infracore, merged on Thursday to operate as a single company under the new name HD Construction Equipment, aiming for 14.8 trillion won ($10.3 billion) in sales by 2030. HD Construction Equipment held its launch event at its Ulsan headquarters on the first day of the new year, with HD Hyundai Group Chairman Chung Ki-sun and Vice Chairman Cho Young-chul in attendance. The merger was approved by shareholders in September last year, attracting attention as Korea’s two leading construction equipment companies set to combine to form the nation’s largest construction equipment firm, with annual revenue projected to reach 8 trillion won. With HD Hyundai Construction Equipment CEO Moon Jae-young at the helm, HD Construction Equipment will have manufacturing operations in Ulsan, Incheon and Gunsan (North Jeolla Province) in Korea, as well as in India, China, Brazil and Norway. “We have now restructured manufacturing, quality control and marketing for our construction equipment business

Jan 1, 2026By Ko Dong-hwan

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CES 2026 Samsung, LG chiefs to make global debut at CES 2026 amid AI push, China challenge

Industry argues policy against fried chicken 'shrinkflation' ineffective

Shinsegae’s Twelve sparks Erewhon copycat debate online

Korea’s instant noodles break from ‘cheap food’ image

Celltrion completes acquisition of US biopharmaceutical plant

Questions raised over TCL’s RGB mini LED TV marketing

Samsung Heavy wins $499 mil. LNG ship order in Oceania

Bain Capital to acquire parent company of athleisure brand Andar

Law protecting street vendors holds back retail giants as e-commerce booms

Newly merged HD Construction Equipment aims for $10.3 bil. in sales by 2030

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