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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.

KITA showcases global buyers at Korea Grand Sourcing Fair

The Korea International Trade Association (KITA) kicked off the Korea Grand Sourcing Fair 2025, Wednesday, bringing together hundreds of global buyers and Korean small- and medium-sized enterprises (SMEs) in a major push to expand exports of K-consumer goods. Held through Thursday at Coex in Seoul, the annual fair is organized in conjunction with Trade Day, which will begin on Dec. 5, a national commemorative day recognizing Korea’s export achievements. Since 2009, KITA has invited large numbers of overseas buyers each year to help domestic SMEs secure new international partners. This year’s event features 150 buyers from 30 countries, who will hold about 2,200 consultation sessions with 880 Korean SMEs. With exports of beauty, food and lifestyle products surging, driven by the global popularity of Korean culture, KITA has placed a stronger emphasis on K-consumer goods. Buyers from key Southeast Asian markets with robust demand for Korean products — including Media Prima, Malaysia’s largest media and entertainment group, and Central Group, Thailand’s leading retail conglomerat

Nov 26, 2025By Nam Hyun-woo
KITA showcases global buyers at Korea Grand Sourcing Fair

SK hynix launches HBM chip-shaped snack in collaboration with 7-Eleven

SK hynix, a leading high bandwidth memory (HBM) chipmaker, said Wednesday it launched an HBM chip-shaped snack in collaboration with convenience store chain 7-Eleven. The snack, called Honey Banana Mat HBM Chips, is now available at 7-Eleven stores nationwide, the company said. Mat is the Korean word for "flavor." The square corn chips are designed to resemble semiconductor chips and are coated with honey- and banana-flavored chocolate. The company also plans to release HBM-themed character figures next month, featuring humanoids powered by HBM chips. SK hynix said the project is intended to help consumers feel more familiar and connected with semiconductors. "The goal of this project is for consumers to naturally associate semiconductors and our company with the joyful experience of eating snacks," the company said. "We will continue to pursue brand innovation by linking semiconductor technology, often viewed as specialized and complex, to fun, everyday experiences."

Nov 26, 2025By Yonhap
SK hynix launches HBM chip-shaped snack in collaboration with 7-Eleven

Lotte, HD Hyundai submit plans for NCC capacity cuts

Lotte Chemical and HD Hyundai Oilbank have become the first naphtha cracking center (NCC) operators to submit self-rescue plans that include production cuts. The submission comes after the government asked domestic petrochemical firms in August to propose restructuring measures by the end of the year amid prolonged recession from oversupply issue, in exchange for regulatory relief, financial support and tax incentives. Lotte Chemcial said Wednesday that the two companies, along with their joint venture HD Hyundai Chemical, have applied for government approval of their business reform plan. Under the plan, Lotte Chemical will transfer its Daesan plant in Seosan, South Chungcheong Province, to HD Hyundai Chemical as part of efforts to cope with oversupply from China and the Middle East and shift to higher value-added products. Industry officials expect the agreement to reduce annual NCC output from the Seosan site by up to 1.1 million tons, thus improving profitability. The government has recommended that domestic petrochemical firms cut their combined nationwide NCC output by up to 25 per

Nov 26, 2025By Park Jae-hyuk
Lotte, HD Hyundai submit plans for NCC capacity cuts

LS to invest $102.8 mil. in LS Cable for US submarine plant project

LS Corp., the holding company of LS Group, said Wednesday it has decided to invest 150 billion won ($102.8 million) in its cable manufacturing unit, LS Cable & System, to support the company's large-scale project to build a submarine power cable plant in the United States. At a board meeting held the previous day, directors approved a plan to purchase some 1.7 million common shares in LS Cable at 88,500 won per share, LS Corp. said in a regulatory filing. Following the purchase slated for Dec. 19, LS Corp.'s stake in LS Cable will rise to 92.52 percent from 92.31 percent. The investment will be used to fund LS Cable's capital increase announced Oct. 29, which is designed to support its 1 trillion-won project to build a submarine power cable plant in Chesapeake, Virginia. The plant, which broke ground in April, is slated for completion in the third quarter of 2027, with operations set to begin in the first quarter of 2028. "The decision is aimed at stabilizing the balance sheet by participating in the capital increase rather than providing loans," an LS official said. "This investment will

Nov 26, 2025By Yonhap
LS to invest $102.8 mil. in LS Cable for US submarine plant project

KT partners with global investment firm DigitalBridge for AI data centers

KT, a major telecommunications company in Korea, said Wednesday it has partnered with global investment company DigitalBridge Group to cooperate on artificial intelligence (AI) data centers. Under a memorandum of understanding (MOU) signed Tuesday, the two companies aim to build domestic AI data center infrastructure and prepare for rising demand for such facilities across the Asia-Pacific region, KT said. They plan to collaborate across the full cycle of designing and operating AI data centers in Korea and discuss measures to improve connectivity and stability between their existing facilities. Overseas, the two sides will jointly conduct market research to identify AI data center business opportunities and explore ways for KT to participate in DigitalBridge's global AI data center projects. DigitalBridge is a U.S.-based digital infrastructure investment company focused on network and information technology (IT) infrastructure, and has recently expanded into AI and cloud infrastructure. "KT will explore data center business opportunities at home and abroad and continue efforts to provide

Nov 26, 2025By Yonhap
KT partners with global investment firm DigitalBridge for AI data centers

LS MnM CEO gains ground on cousins in race for group control

LS MnM CEO Koo Dong-whi has taken another step in his competition with LS Group’s other third-generation heirs for control of the cable-to-smelting conglomerate. In the group’s recent year-end executive reshuffle, the 43-year-old was the only senior executive vice president promoted to president. His promotion came a year after he was appointed CEO of the nonferrous metals company. “Since becoming LS MnM’s CEO, Koo has quickly restored profitability in the smelting business through efficient management and higher sales of precious metals,” LS Group said in a press release. “He aims to lead the group’s ecosystem for electric vehicle materials by advancing key businesses such as nickel sulfate and precursors for rechargeable batteries.” Since 2021, LS Group has been led by Chairman Koo Ja-eun, the eldest son of Yesco Honorary Chairman Koo Doo-hwoi, who was the youngest brother of LG Group founder Koo In-hwoi. The current chairman took control of the group from his eldest cousin, Koo Ja-yeol, who is the father of LS MnM’s CEO and chairs the board of the group’s holding c

Nov 26, 2025By Park Jae-hyuk
LS MnM CEO gains ground on cousins in race for group control

Smaller shipyards set to join US shipbuilding cooperation

Seoul and Washington’s proposed shipbuilding partnership is creating new business opportunities not only for the country’s three leading players, but also for Korea’s small and medium-sized shipbuilders. After HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries submitted prospectuses to the U.S. Department of Commerce for their participation in the so-called Make American Shipbuilding Great Again (MASGA) project, smaller shipbuilders also began preparing submissions, targeting maintenance, repair and overhaul (MRO) contracts for U.S. naval vessels. HJ Shipbuilding & Construction (HJSC) expects to sign a master ship repair agreement (MSRA) with the U.S. Navy by the end of this year. This agreement is necessary for a civil shipyard to maintain and repair U.S. battleships. Earlier this month, the company hosted Alex Krutz, deputy assistant secretary for manufacturing at the U.S. Department of Commerce, at its Busan shipyard. His visit came seven months after a visit by Rear Adm. Neil Koprowski, commander of U.S. Naval Forces Korea. “U.S. government officials have

Nov 26, 2025By Park Jae-hyuk
Smaller shipyards set to join US shipbuilding cooperation

Heads of Samsung, India’s Reliance explore comprehensive partnership

Samsung Electronics Executive Chairman Lee Jae-yong met with Mukesh Ambani, chairman of India’s largest conglomerate Reliance Industries, in Seoul and explored ideas on expanding the two sides’ comprehensive partnership to future industries. Ambani and his eldest son Akash, board chairman of Reliance Jio Infocomm, visited Korea for a meeting with Lee and other Samsung affiliate CEOs at Samsung Electronics' office in Seocho District, Seoul. During the meeting, the two sides discussed ways of expanding their cooperation in emerging businesses including semiconductors, communication, data centers and batteries. Particularly, Samsung Group presented Chairman Ambani with a pack of next-generation technologies under development across its affiliates, including artificial intelligence (AI), extended reality, semiconductor foundry, AI data centers, next-generation communications, advanced displays, cloud services, batteries, plant construction and engineering. In recent years, Reliance Industries has been expanding its business portfolio beyond its traditional chemical and retail sectors int

Nov 25, 2025By Nam Hyun-woo
Heads of Samsung, India’s Reliance explore comprehensive partnership

Workplace deaths becoming persistent issue at Coupang

A Coupang employee in his 30s collapsed from cardiac arrest at the canteen of the company’s logistics base in Hwaseong, Gyeonggi Province, at around 10:30 p.m. Friday. He was taken to a nearby hospital where he was pronounced dead. The worker had been working overnight shifts from 6 p.m. to 4 a.m. since September last year. Coupang came under heavy criticism after stating — before the police had determined an exact cause of death — that the employee had a chronic illness, prompting accusations that the country’s largest e-commerce platform operator was attempting to deflect responsibility. The death in Hwaseong came just days after another fatal accident involving a Coupang worker. On Nov. 10 at around 2 a.m., a delivery truck driver on Jeju Island, identified only by his surname Oh, crashed into a street utility pole while working an overnight shift. He died after being transported to a hospital. In the week before his death, the 33-year-old had worked 83.4 hours without a single day off and handled as many as 354 deliveries per day. His working conditions exceeded the Internat

Nov 25, 2025By Ko Dong-hwan
Workplace deaths becoming persistent issue at Coupang

Hyundai, Kia's October Europe sales dip 1.4% amid lack of new models

Combined vehicle sales of Korea's leading automaker Hyundai Motor and its affiliate Kia in Europe fell 1.4 percent in October from a year earlier, industry data showed Tuesday, mainly due to a shortage of newly launched models. According to the data from the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold a combined 81,540 vehicles in Europe last month, down from 82,734 units a year earlier. "The monthly decline was mainly driven by a lack of new models introduced in the European market, among other factors," a Hyundai spokesperson said. Hyundai Motor's sales slipped 0.8 percent to 41,137 units from 41,488 a year earlier, while Kia's fell 2 percent to 40,403 from 41,246. In Europe, where emissions regulations are becoming increasingly stringent, the two carmakers are focusing on promoting eco-friendly models, including Hyundai's Tucson gasoline hybrid and plug-in hybrid versions, the all-electric Kona, and Kia's all-electric EV3 and Niro plug-in hybrid models. Last month, Hyundai and Kia together accounted for 7.5 percent of the European vehicle market, where o

Nov 25, 2025By Yonhap
Hyundai, Kia's October Europe sales dip 1.4% amid lack of new models
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