Business - The Korea Times

Major bio firm Alteogen seeks to move to main bourse

Alteogen, the No.1 market cap company on the secondary KOSDAQ market, said Monday it has decided to move to the country's main bourse in a bid to create stable funding and boost its corporate value. Its shareholders approved a proposal to move to the KOSPI market earlier in the day, the bio tech firm said. After being delisted from the KOSDAQ market, Alteogen will submit an application for the KOSPI listing and aim to get listed within next year. Alteogen, established in 2008, has a pipeline that includes next-generation biobetters Alteogen's market value stands at some 24.9 trillion won ($17 billion), and the company may be included in the top 30 market cap list of the KOSPI market. The bio tech firm accounts for some 5 percent of the KOSDAQ market's total market capitalization. Meanwhile, No.2 market cap on the KOSDAQ market, EcoPro BM Co., is also said to be seeking again to move to the main bourse. The Korean cathode producer withdrew its earlier plan to move to the KOSPI market in February. EcoPro BM's market cap stands at some 16.5 trillion won, which accounts for 3.3 percent of the ma

Dec 8, 2025By Yonhap

Major bio firm Alteogen seeks to move to main bourse

Will gov't succeed in relocation of HMM to Busan?

HMM is drawing attention as speculation grows that the company will follow other shipping firms and the Ministry of Oceans and Fisheries by relocating its headquarters to Busan. The proposed move is currently facing strong backlash from its workers, most of whom are based in Seoul’s financial district of Yeouido. After Oceans Minister Chun Jae-soo said he will unveil a road map for HMM’s relocation next month, the company’s union staged a protest in front of the presidential office in Seoul on Thursday, warning it would go on strike if the government pushes ahead with the plan. A day after the rally, however, SK Shipping and H-Line Shipping — two mid-sized bulk shipping companies controlled by private equity firm Hahn & Company — announced they would move their headquarters from Seoul to Busan. This follows the Oceans Ministry’s own relocation from Government Complex Sejong, which began Monday. Busan residents have also urged HMM to align with the Lee Jae Myung administration’s push to turn the city into a hub for the maritime industry, noting that nearly 7 trillion won ($4

Dec 8, 2025By Park Jae-hyuk

Will gov't succeed in relocation of HMM to Busan?

Biz leaders of Korea, Japan call for deeper ties to navigate global uncertainties

SEOGWIPO, Jeju Island — Business leaders of Korea and Japan explored the idea of economic solidarity between the two countries as a paradigm aimed at addressing common challenges that their economies are facing. The Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI) jointly held their 14th Korea-Japan Chamber of Commerce and Industry Meeting in Seogwipo on Jeju Island, Monday. “Korea and Japan are facing common challenges at home and abroad,” KCCI Chairman Chey Tae-won said. “Externally, we must respond to the rapidly changing global trade environment and the intensifying competition in advanced technologies, while internally we are faced with structural issues such as low birthrates, aging populations and the decline of regional communities.” Noting that this year marks the 60th anniversary of the normalization of diplomatic ties between the two countries, Chey said it is time for Seoul and Tokyo to move beyond cooperation and design the future together through economic solidarity to address these challenges. “For the mutual c

Dec 8, 2025By Nam Hyun-woo

Biz leaders of Korea, Japan call for deeper ties to navigate global uncertainties

4 out of 10 conglomerates yet to establish investment plans for 2026: survey

Four out of 10 Korean conglomerates have not yet established their investment plans for 2026 amid growing uncertainties in the business environment, an industry survey showed Monday. The Federation of Korean Industries (FKI), a major Korean business lobby, recently commissioned pollster Mono Research to survey the country's top 500 companies by sales on their investment plans for next year. Of the 110 companies that responded, 43.6 percent said they have not yet drawn up investment plans for 2026, while 15.5 percent said they have no investment plans at all. Only 40.9 percent said they had finalized their plans, the FKI said in a press release. Companies that have not set their 2026 investment plans cited business reorganization, the need to assess internal and external risks, and uncertain economic prospects at home and abroad as key reasons for the delay, the FKI said. More than half of the companies that have finalized their plans said they will invest at levels similar to those of this year. Survey results also indicated that unfavorable business conditions — including persistent tr

Dec 8, 2025By Yonhap

4 out of 10 conglomerates yet to establish investment plans for 2026: survey

Lee puts brakes on HD Hyundai's push to lead KDDX project

President Lee Jae Myung has pressured the Defense Acquisition Program Administration (DAPA) to select a shipbuilder for the Korean Next-Generation Destroyer (KDDX) project through an open competitive bidding process rather than awarding a sole-source contract to HD Hyundai Heavy Industries (HHI), which drafted the basic design. With Defense Minister Ahn Gyu-back also opposing the agency’s push for a sole-source deal, expectations are growing that Hanwha Ocean could be allowed to join the 7.8 trillion won ($5.3 billion) program to build six 6,000-ton destroyers by 2030. During a meeting on Friday with residents in South Chungcheong Province, Lee warned DAPA Minister Lee Yong-chul against signing a sole-source contract with a company penalized after its employees leaked military secrets, calling such a move “ridiculous.” Although Lee did not name the company, his remarks were widely interpreted as referring to former HD HHI employees who stole conceptual destroyer designs from Daewoo Shipbuilding & Marine Engineering (DSME) — now Hanwha Ocean — between 2012 and 2015. After their

Dec 7, 2025By Park Jae-hyuk

Lee puts brakes on HD Hyundai's push to lead KDDX project

Coupang issues revised notice citing 'data breach,' says no signs of secondary damage

E-commerce giant Coupang issued a revised notice Sunday to clearly describe a recent incident as a data breach following a government order while noting that the police have found no evidence of secondary damage. "An incident involving the breach of customers' personal information has occurred," Coupang said in the new notice. "No new leakage has taken place, and this notice is intended to provide guidance on precautions to prevent further damage, such as impersonation or phishing, related to the personal information leak that we have notified since Nov. 29." On Nov. 29, Coupang disclosed that the personal information of 33.7 million customers — nearly its entire user base — had been compromised, including their names, phone numbers, email addresses and delivery details. The data breach appears to have originated through overseas servers since June 24, according to the U.S.-listed company. "We promptly reported the incident to relevant authorities as soon as we became aware of the breach and are currently cooperating with the Ministry of Science and ICT, the Korean National Police Age

Dec 7, 2025By Yonhap

Coupang issues revised notice citing 'data breach,' says no signs of secondary damage

Call data of 36 users on LG Uplus' AI call app leaked

South Korea's telecommunications provider LG Uplus said Saturday it reported to authorities that call data of customers using its artificial intelligence (AI)-based call app ixi-O was leaked early this week. "Due to a cache configuration error, the call data of 36 customers, including the users' phone numbers and content of their conversations, was temporarily exposed to 101 other users during our service update," the telecommunications provider said in a statement. "We reported the leakage to the Personal Information Protection Commission today at 9 a.m.," the company added. LG Uplus said the data leakage occurred between 8 p.m. Tuesday and 10:59 a.m. the following day, and the call information of existing users was revealed to those who newly downloaded or re-downloaded the app. No sensitive information, such as users' resident registration numbers or financial data, was exposed, the company added, noting the incident has "nothing to do with hacking." The telecommunications firm said it immediately began investigating the cause upon realizing the data leak at 10 a.m. Wednesday. It also c

Dec 6, 2025By Yonhap

Call data of 36 users on LG Uplus' AI call app leaked

Samsung tops global foldable phone shipments in Q3: report

Samsung Electronics solidified its top position in the global foldable smartphone market in the third quarter, industry data showed Saturday. Samsung accounted for 64 percent of all global shipments of foldable smartphones in the July-September period, up 8 percentage points from a year ago, according to a report from Counterpoint Research, a market tracker. The company further widened its gap with China's Huawei Technologies Co., whose market share remained unchanged from a year ago at 15 percent during the cited period, the report said. Motorola Mobility LLC. ranked third with a 7 percent market share, followed by China's Honor Device Co. at 4 percent, Vivo Mobile Communications Co. at 4 percent and Xiaomi Corp. at 2 percent. "Global shipments of foldable smartphones went up 14 percent on-year and climbed to a record quarterly high, led by the popularity of Samsung's Galaxy Z Fold 7 series," the report said. Foldable smartphones accounted for 2.5 percent of all smartphone shipments made in the third quarter this year, according to the report. Meanwhile, the market tracker expected the gl

Dec 6, 2025By Yonhap

Samsung tops global foldable phone shipments in Q3: report

Coupang compensation may rise to $11.4 bil., lawmakers consider stronger legal penalties

E-commerce giant Coupang is facing increasing pressure over compensation liability following a data leak in which the personal information of 33.7 million customers was breached by a former employee. With potential legal costs estimated to reach as high as 16.8 trillion won ($11.44 billion), the number of customers joining class action suits to demand damages continues to rise. The Personal Information Protection Commission (PIPC), the country's personal data watchdog, is already signaling it will impose a separate penalty worth up to 1.2 trillion won, implying the breach is one of the most significant in the company's history. As public and political calls intensify for severe penalties against Coupang, the potential for lawsuits against the firm is also brewing. Already, a law firm has filed a complaint against Park Dae-jun, CEO of Coupang Corp., the Korean unit of the U.S.-listed parent company. Bom Kim, Coupang's founder, has so far maintained his silence. As of Friday, more than 500,000 people have signed up across more than 20 online communities to prepare class action suits agains

Dec 5, 2025By Ko Dong-hwan

Coupang compensation may rise to $11.4 bil., lawmakers consider stronger legal penalties

Starlink service expands among Korean shippers, airlines

Starlink is rapidly expanding its presence following its official debut in Korea, with major local firms in network and aviation forging immediate partnerships with SpaceX’s satellite internet service. Starlink started service in Korea on Thursday by offering multiple subscription options for homes, businesses and roaming service. The home internet service is offered with two monthly options priced at 64,000 won ($43.5) and 87,000 won. Customers must separately purchase a kit including a satellite dish for 550,000 won. Given Korea’s relatively small land area and extensive ground-based network coverage, most households are expected to continue using existing internet services provided by local companies, which offer faster speeds at lower prices. The general demand for Starlink in Korea is expected to focus on business-to-business subscription plans, ranging from 90,000 won to 3.42 million won per month, particularly among users who need connectivity for maritime and aviation operations. Shortly after the launch of the service, SK Telink and KT SAT became the two major official resell

Dec 5, 2025By Lee Min-hyung

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