my timesThe Korea Times
Business

Companies

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

LS C&S to produce rare-earth magnets in Virginia

LS Cable & System (C&S) said Monday it is reviewing the feasibility of building a U.S. rare-earth magnet plant in Chesapeake, Virginia, which it says will enhance energy security and stabilize supply chains in both Korea and the United States. The announcement came after LS C&S CEO Koo Bon-kyu met with Virginia Gov. Glenn Youngkin in the state Friday (local time) to unveil a plan to invest an additional $689 million in Chesapeake, which is expected to create more than 430 new jobs. "We’re not only expanding our manufacturing capabilities, we’re strengthening the U.S. domestic supply chains and supporting America’s leadership in energy and technology," Koo said. "By continuing partnerships with the Commonwealth of Virginia, the City of Chesapeake and the Hampton Roads region, we’re creating opportunities for the local community while helping to ensure secure, reliable infrastructure that supports national security and the nation’s energy future." LS C&S broke ground in April on LS GreenLink USA’s cable manufacturing and pier facility. The proposed rare-earth magnet plant is ex

Dec 15, 2025By Park Jae-hyuk
LS C&S to produce rare-earth magnets in Virginia

Doosan Enerbility wins $88 mil. supply order for Qatar power plant project

Doosan Enerbility, a major Korean plant builder, said Monday it has won a 130 billion-won ($88 million) supply order from Qatar, part of a large-scale power plant project in the Middle Eastern nation. Under the deal with Samsung E&A, Doosan Enerbility will supply 430-megawatt-class steam turbines and generators to the Facility E Independent Water and Power Project, which involves building a 2,400-megawatt combined-cycle gas power plant in the Middle Eastern country, according to the company. Samsung E&A has been selected as the engineering, procurement and construction (EPC) contractor for the project. This marks Doosan Enerbility's second order from Qatar, following a 290 billion-won deal secured in March. "Through consecutive wins in Qatar and expanded supply contracts across the Middle East, including Saudi Arabia, we are solidifying our position in the global gas-fired combined-cycle power generation market," a Doosan Enerbility official said. "Based on trust in our products, we will provide solutions optimized for customer needs to further strengthen our competitive edge in securing

Dec 15, 2025By Yonhap
Doosan Enerbility wins $88 mil. supply order for Qatar power plant project

Korean Air vows zero tolerance against aircraft emergency exit tampering

Korean Air said Monday it will adopt a zero tolerance policy toward passengers who tamper with aircraft emergency exits, warning that it will seek criminal charges against violators to strengthen aviation safety. The country's flag carrier said it is responding to a rise in such incidents, which pose a serious threat to flight safety. Korean Air said there have been 14 cases of exit tampering or attempted tampering in the past two years. The company noted that unauthorized tampering of exit doors has continued despite heightened awareness following a widely reported 2023 Asiana Airlines case in which a passenger opened an exit door in the middle of the flight. Korea's Aviation Security Act prohibits passengers from touching aircraft doors, exits or onboard equipment, and violations are punishable by up to 10 years in prison. Korean Air said it will refer all such cases for criminal prosecution, seek civil damages for actual losses and impose travel bans on violators.

Dec 15, 2025By Yonhap
Korean Air vows zero tolerance against aircraft emergency exit tampering

'Leaving unique first impression key to record vehicle sales'

What matters most to Choi Jin-seong, a legendary car salesman at Hyundai Motor, is leaving a unique first impression on his customers. Choi recently rewrote the carmaker’s sales history by becoming the first person to achieve cumulative vehicle sales of 8,000. Choi began his sales career at Hyundai Motor in 1996 and has earned the distinction of being the carmaker’s top salesman. He has sold an average of 267 vehicles per year over the past three decades. He distinguishes himself from other salespeople through his attire and conduct during his first meeting with each customer. “I use a motorcycle and wear unique clothes, such as a swallow-tailed coat and school uniform, to give an unforgettable first impression to my customers,” Choi said during a telephone interview. “My sales philosophy is that leaving a unique first impression is better than holding multiple typical meetings with customers,” he said. In 2018, Choi had surpassed 5,000 cumulative vehicle sales, and he added another 2,000 in just five years. Choi is aged 58, but still uses a motorcycle for his sales activities.

Dec 15, 2025By Lee Min-hyung
'Leaving unique first impression key to record vehicle sales'

Fewer Korean conglomerates to participate in CES amid uncertainty

Korean conglomerates are set to scale back their presence at the CES 2026 tech fair, moving to bolster their groupwide internal management and keep a low profile in major overseas promotional activities amid mounting business uncertainties at home and abroad. SK Group has decided to drastically reduce the scale of its participation in the world’s largest tech exhibition next year, as most of its key affiliates are focused on realigning their business strategies and tightening internal stability in the face of drastic earnings falls. SK hynix is the only affiliate from the group that will hold a promotional booth and closed-door meeting room during CES 2026, scheduled for Jan. 6 to 9. SK hynix posted a record operating profit of 28 trillion won ($18.95 billion) in the first three quarters of this year due to solid demand for its high-bandwidth memory (HBM) chips. However, most other key subsidiaries, including SK Telecom and SK Innovation, will not promote their newest technologies during the upcoming event due to escalating business uncertainties. SK Telecom experienced an earnings sho

Dec 15, 2025By Lee Min-hyung
Fewer Korean conglomerates to participate in CES amid uncertainty

Coupang founder will not attend upcoming parliamentary hearing over massive data breach: lawmakers

Coupang Inc. founder Kim Bom-suk has said he would not appear for a parliamentary hearing this week over the e-commerce giant's massive data breach that affected nearly 34 million people, lawmakers said Sunday. Kim, the chair of Coupang's board, submitted a statement on his non-appearance for the hearing scheduled Wednesday, according to Democratic Party of Korea (DPK) lawmakers of the parliamentary science, ICT, broadcasting, and communications committee. Park Dae-jun and Kang Han-seung, former CEOs of the U.S.-listed company's Korean unit, also notified the lawmakers of their non-appearance. Late last month, Coupang disclosed that the personal information of 33.7 million customers had been compromised, including their names, phone numbers, email addresses and delivery details, sparking scrutiny from lawmakers of the company's practices. "Those responsible at Coupang have shunned the public and the National Assembly and chose to run away," the DPK lawmakers said, vowing to push for legislation that would prevent executives of large platform companies from evading responsibility. Rep. Cho

Dec 14, 2025By Yonhap
Coupang founder will not attend upcoming parliamentary hearing over massive data breach: lawmakers

Seasoned 'gim' exempt from US tariff

Exports of seasoned gim, or dried seaweed, are gaining momentum as the United States — a major global market for the Korean product — began exempting it from tariffs last month, the government said Sunday. According to the Ministry of Oceans and Fisheries, the U.S. government lifted a 15 percent tariff on Korean gim, allowing it to enter the U.S. market at a zero percent tariff starting Nov. 13. The ministry added that the measure was part of the joint fact sheet on a bilateral trade and security agreement following President Lee Jae Myung’s summit with U.S. President Donald Trump in October. The joint fact sheet states that the U.S. intends to remove tariffs on certain natural resources that are not produced domestically, making seasoned gim a beneficiary of the policy. Unseasoned gim, however, remains subject to a 15 percent tariff in trade with the U.S. The U.S. has been a critical global market for Korean gim, driven by its popularity among American consumers. Korean gim exports to the U.S. totaled $228 million through November this year, up 15.9 percent from a year earlier. A

Dec 14, 2025By Ko Dong-hwan
Seasoned 'gim' exempt from US tariff

PHOTO Lotte's design strategy meeting

Lotte Group Chairman Shin Dong-bin, right, accompanied by Lee Don-tae, center, president of the group’s Design Strategy Center, inspects a booth showcasing Lotte’s design strategy and innovation initiatives during the group’s meeting at Lotte World Tower in Seoul, Friday. Shin and more than 50 executives attended the gathering, a groupwide forum designed to assess the current state of Lotte’s brand and design and chart its future direction. This marks the second year the event was held, following its inaugural edition last year. Courtesy of Lotte Group

Dec 14, 2025By Kang Seung-woo
[PHOTO] Lotte's design strategy meeting

PHOTO Shinsegae chair meets Vance

Shinsegae Group Chairman Chung Yong-jin, right, poses with U.S. Vice President J.D. Vance during a Christmas dinner in Washington, Friday (local time). Chung also met with senior White House officials, including Secretary of Commerce Howard Lutnick, as well as U.S. business leaders during year-end gatherings. Courtesy of Shinsegae Group

Dec 14, 2025By Kang Seung-woo
[PHOTO] Shinsegae chair meets Vance

Musinsa opens 1st overseas store in Shanghai

Major fashion platform Musinsa on Sunday opened its first offline store outside Korea in Shanghai, as part of its brick-and-mortar market expansion across China. Musinsa Standard Parkson Shanghai, spanning two aboveground floors and totaling 1,421 square meters, is located on Huaihai Road — one of the city’s busiest commercial districts, with an average daily footfall of 500,000 people. The store offers close access to South Shaanxi Road Station, which connects to three subway lines, providing convenient accessibility for visitors. The company selected Shanghai for its role as a trend-setting hub for young consumers and a key driver of China’s fashion and retail market. Leveraging the store’s strategic location, Musinsa plans to expand its market presence across China. After analyzing local fashion trends and environmental factors, the company curated an assortment of seasonal products targeting young consumers. Moving away from conventional category-based displays, the store has adopted mood- and theme-based zoning that presents styling proposals ranging from classic to casual a

Dec 14, 2025By Ko Dong-hwan
Musinsa opens 1st overseas store in Shanghai
previous page
139140141142143
next page

Most Read in Business