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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.

Free cash flow of top 500 firms increases sharply in Q3 amid chip boom: data

Free cash flow of Korea's top 500 listed firms rose sharply over the past year as a positive business cycle in the semiconductor market boosted liquidity at major chipmakers, industry data showed Wednesday. According to the data by corporate tracker CEO Score, the 500 listed firms, excluding financial companies, recorded a combined 69.6 trillion won ($47.3 billion) in free cash flow as of the third quarter, up 42 percent from 49.1 trillion won a year earlier. Free cash flow refers to the amount of cash a company has left after spending on operations and capital investments. It indicates how much cash is available to repay creditors or return to shareholders through dividends and interest payments. A total of 127 companies saw their free cash flow increase from a year earlier, while 110 firms reported a decline. By sector, the technology and electronics industry accounted for the largest increase, generating 29.8 trillion won in free cash flow. Samsung Electronics, a major global chip and consumer electronics player, posted the largest free cash flow in the third quarter at 19 trillion won

Dec 10, 2025By Yonhap
Free cash flow of top 500 firms increases sharply in Q3 amid chip boom: data

Construction equipment makers enter expansion mode

Korea’s leading construction equipment manufacturers have resumed efforts to expand their global presence ahead of a widely anticipated market recovery next year. HD Hyundai is preparing to launch HD Construction Equipment on Jan. 1, following shareholder approval in September for merging its two heavy machinery units, HD Hyundai Construction Equipment and HD Hyundai Infracore. The new entity aims to generate $10 billion in annual sales by 2030 and join the ranks of the world’s top 10 construction machinery makers. "With optimized product lineups and production system customized for each region, HD Construction Equipment will achieve economies of scale and build a full lineup of construction machinery ranging from compact to ultra-large models," an HD Hyundai official said. "The company will also diversify the sources of income, leveraging integrated R&D capabilities to secure future growth engines such as electrification, smart equipment and total solutions." Doosan, which has focused mainly on the North American equipment market, has begun targeting Europe through Doosan Bobcat’s

Dec 10, 2025By Park Jae-hyuk
Construction equipment makers enter expansion mode

PHOTO Import Day celebrated with trade minister

Korea Importers Association (KOIMA) Chairwoman Youn Young-mi, front row 12th from left, and Trade Minister Yeo Han-koo, front row 11th from left, pose with foreign ambassadors in Korea during an event to celebrate the 16th Import Day and the 55th anniversary of the association at The Shilla Seoul hotel, Tuesday. Youn and Yeo expressed their gratitude to importers for contributing to the Korean economy amid the challenging global trade environment. Courtesy of KOIMA

Dec 9, 2025By Park Jae-hyuk
[PHOTO] Import Day celebrated with trade minister

HD Hyundai honors everyday heroes

The HD Hyundai 1% Nanum Foundation, a charity funded by donations from HD Hyundai employees, held the third HD Hyundai Honor Awards ceremony Tuesday to recognize ordinary citizens who have shown extraordinary heroism. This year’s top prize went to Jeong Deok-hwan, a former Korean national judo team member who became paralyzed during training. In 1983, he founded the Eden Welfare Foundation to help people with disabilities achieve independence by creating job opportunities. He received 150 million won ($102,000) for his four decades of dedication to empowering people with disabilities to live self-sufficient lives. “Our society has a shared responsibility to support the independence and well-being of people with disabilities,” Jeong said. “I will keep working to raise public awareness so disabilities are not seen as weaknesses or barriers.” HD Hyundai 1% Nanum Foundation Chairman Kwon Oh-gap said the honorees have made society “warmer and stronger” through their selfless dedication. The runner-up honor went to Father Kim Ha-jong, founder of Anna’s House, which provides sup

Dec 9, 2025By Park Jae-hyuk
HD Hyundai honors everyday heroes

Coupang founder to be summoned over data breach

The National Assembly’s Science, ICT, Broadcasting, and Communications Committee will summon Coupang founder and Chairman Kim Bom-suk, also known as Bom Kim, as the key witness at a Dec. 17 hearing into his company’s massive personal data breach. The committee approved the hearing during a meeting on Monday, determining that Coupang’s responses in the initial emergency questioning on Dec. 2 were insufficient. “We decided to adopt the proposal for a hearing to address unresolved suspicions that remain despite previous questioning,” said Rep. Choi Min-hee, who chairs the committee. A total of nine witnesses and five expert witnesses will be summoned for the hearing. Six Coupang executives are on the list, including Kim, Coupang Corp. CEO Park Dae-jun, former CEO Kang Han-seung, who is now head of the company’s North American operations, and Chief Information Security Officer Brett Matthes. Government officials have also been called to testify, including Science Minister Bae Kyung-hoon and Korea Internet & Security Agency (KISA) President Lee Sang-joong. Expert witnesses include

Dec 9, 2025By Lee Gyu-lee
Coupang founder to be summoned over data breach

PHOTO Award ceremony for heroic coastguardsmen

S-Oil CEO Anwar Al-Hejazi, back row seventh from left, and S-Oil President Ryu Yul, back row fifth from left, pose with Kim Sung-yi, chairman of the Korea National Council on Social Welfare, back row sixth from left, and Kim Yong-jin, commissioner general of the Korea Coast Guard, back row eighth from left, at Seoul Garden Hotel, Tuesday, after rewarding coastguardsmen for their heroic activities. The oil refiner said it gave a combined 90 million won ($61,000) to the nine award-winning members of the coast guard. Courtesy of S-Oil

Dec 9, 2025By Park Jae-hyukphoto
[PHOTO] Award ceremony for heroic coastguardsmen

Alipay+ sees rising demand in Korea as global wallet gateway

Digital wallet gateway Alipay+ has seen rising demand from foreign visitors to Korea and local businesses, as the country experiences a growing influx of tourists and nationwide spending. The head of Alipay+, a business unit of Singapore-based Ant International, said Tuesday that the service’s growing popularity stems not only from the convenience it offers global users but also from its support for small and medium-sized businesses seeking to expand their customer base. In Korea, Alipay+ saw the number of QR code transactions increase by 18 percent this year, while total payment volume (TPV) grew 16 percent from the previous year. The rise was driven by more tourists using Alipay+ partner wallets and banking apps to make digital payments for various services. Mainland Chinese tourists using Alipay accounted for the largest share of Alipay+ users in Korea this year, followed by visitors from Hong Kong using AlipayHK. They were trailed by users from Malaysia (Touch ’n Go eWallet), Japan (PayPay), Macao (Mpay) and the Philippines (GCash). Most of the spending occurred in Seoul, Incheo

Dec 9, 2025By Ko Dong-hwan
Alipay+ sees rising demand in Korea as global wallet gateway

Hana Tour boosts global presence under IMM PE guidance

Hanatour, Korea’s largest travel agency, is strengthening its global competitiveness under the leadership of its largest shareholder, IMM Private Equity (IMM PE), by establishing joint ventures and investment entities with major players in Southeast Asia, the company and industry officials said Tuesday. After entering the Thai and Singaporean markets by establishing investment entities, Hanatour recently launched a new joint venture in the Philippines with Aboex Travel and Tours, a mid-sized local travel firm, to tap into the country’s corporate travel market. According to the company’s announcement on Monday, the new joint venture will be structured with Aboex Travel overseeing corporate sales, while Hanatour provides operational expertise, systems and capital. Over the medium to long term, Hanatour aims to position the Philippine outbound travel market as a strategic base for its global-bound expansion by linking it with Hanatour ITC, Hanatour Japan and its broader global network. The two firms also plan to jointly explore new destinations and cooperate on charter flight operatio

Dec 9, 2025By Jun Ji-hye
Hana Tour boosts global presence under IMM PE guidance

HS Hyosung appoints 1st chairman with no ownership ties

HS Hyosung said Monday it has appointed former Hyosung Group Vice Chairman Kim Kyoo-young as the group’s first chairman with no ownership ties (commonly known in Korea as a professional manager), signaling a shift toward a capability-based leadership system rather than an owner-centered structure. Kim joined Tongyang Nylon, the predecessor of Hyosung Group, in 1972. Over more than five decades, he has held key posts including factory manager of plants in Eonyang, near Ulsan, and Anyang, Gyeonggi Province; president of China operations; chief technology officer; and head of the Hyosung Technical Institute. He is widely credited with laying the technological foundation for Hyosung’s textile business, including developing spandex and upgrading product quality. Kim also served as CEO of Hyosung Group’s holding company for eight years beginning in 2017. HS Hyosung said the appointment reflects Vice Chairman Cho Hyun-sang’s belief that HS Hyosung employees are the company’s most valuable assets and anyone with the capability can become chairman. Cho has consistently stressed that le

Dec 9, 2025By Nam Hyun-woo
HS Hyosung appoints 1st chairman with no ownership ties

Police raid Coupang over massive data breach

Police raided the headquarters of e-commerce giant Coupang Inc. on Tuesday over a massive breach of personal information that affected some 34 million people of the nation's 52 million population, officials said. The search and seizure took place after Coupang disclosed late last month that personal information of 33.7 million customers had been compromised, including their names, phone numbers, email addresses and delivery details. The Seoul Metropolitan Police Agency's cyber investigation team sent officials to the company's headquarters in southern Seoul to search for internal documents and records related to the breach. Police reportedly seek to check for possible lapses in Coupang's security, while tracking down the suspect behind the leak. "Based on the secured digital evidence, (we) plan to comprehensively determine the overall facts of the case, such as the leaker of the personal information as well as the route and cause of the leak," a police official said. Police began investigating the case after Coupang initially reported a data breach of some 4,500 customers on Nov. 18. They

Dec 9, 2025By Yonhap
Police raid Coupang over massive data breach
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