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.

SK Group exports to reach $81.4 bil. this year

SK companies’ combined exports are projected to reach a record high of 120 trillion won ($81.4 billion) this year on the back of exponential growth in SK hynix’s semiconductor shipments, Korea’s second-largest conglomerate said Tuesday. According to SK Group, the accumulated exports of all affiliates in the first three quarters of this year stood at 87.8 trillion won, up 19 percent from 73.7 trillion won a year earlier. If the current rate of growth continues through the fourth quarter, the group expects its exports will reach the 120 trillion won range by the end of this year, surpassing last year’s 102.5 trillion won. Much of the growth was fueled by high-value memory chips, including high-bandwidth memory (HBM). SK hynix’s exports reached 56.7 trillion won in the January-September period, accounting for 65 percent of the group’s total, up from 54 percent a year earlier. SK Group said the company was a key contributor to Korea’s total exports reaching a milestone. The country's total exports in the third quarter reached $185 billion, the highest since 2010. HBM and other

Nov 25, 2025By Nam Hyun-woo
SK Group exports to reach $81.4 bil. this year

Dongsuh Foods' Maxim celebrates over 40 years of consumer engagement

Since its debut more than four decades ago, Dongsuh Foods' flagship coffee brand Maxim has enriched consumers’ everyday lives by combining manufacturing expertise with a commitment to delivering happiness through “a good cup of coffee,” the core value behind Maxim’s continued success. In line with the growing “feelconomy” trend here, which emphasizes emotional satisfaction and experiential value over functional benefits, Maxim has broadened its happiness-focused brand message to include special consumer engagements. “Maxim has long stood by consumers, sharing its brand message of ‘happiness’ by offering unique and delightful experiences to their daily lives,” the company’s official said. “We remain dedicated to continuing to create special moments for people of all generations to enjoy Maxim together.” The recently launched special package, Color of Maxim, reimagines its signature lineups, Mocha Gold, White Gold and Supreme Gold, offering limited-edition merchandise, such as towels, slippers, chair covers and cups in their signature colors of yellow, ivory and o

Nov 25, 2025By Lee Gyu-lee
Dongsuh Foods' Maxim celebrates over 40 years of consumer engagement

Korean Air, Incheon Int'l Airport to build new $119.2 mil. maintenance hangar

Korean Air will build a next-generation aircraft maintenance hangar at Incheon International Airport, Korea's main gateway, under a 176 billion-won ($119.2 million) joint investment deal with the airport operator, the airline said Monday. The new hangar will be located inside the airport's High Tech Aviation Complex and will support airframe inspections, component checks, heavy maintenance and aircraft modification. An agreement signing ceremony between the airline and Incheon International Airport was held at a hotel in Incheon, west of Seoul, earlier in the day. The 69,299-square-meter site will accommodate two wide-body aircraft and one narrow-body aircraft at once. Construction is set to begin in 2027, with operations planned from late 2029. Korean Air said the facility will strengthen its maintenance, repair and overhaul (MRO) capabilities ahead of the launch of the integrated carrier following the acquisition of rival carrier Asiana Airlines Inc. "We will work closely with Incheon International Airport to ensure the project progresses smoothly and on time," a Korean Air official sa

Nov 24, 2025By Yonhap
Korean Air, Incheon Int'l Airport to build new $119.2 mil. maintenance hangar

K-defense shifts Nordic security landscape

As Norway inks a third K9 contract and Sweden a second modular charge system (MCS) deal, high-level Danish NATO delegates arrived in Korea to explore cooperation. The Nordic security and defense landscape is undergoing a fundamental shift. As nations across the region reassess their defense posture in response to heightened security threats, Korea’s Hanwha Aerospace is rapidly emerging as a core provider for their defense modernization. Moving beyond simple arms sales, a clear trend of repeat orders and direct, high-level political exchanges demonstrates that the company is solidifying its position as a “strategic partner.” The most recent and tangible evidence comes from Norway. The Norwegian Defence Materiel Agency (NDMA) recently signed a third contract for 24 additional K9 “VIDAR” self-propelled howitzers. VIDAR refers to versatile indirect artillery. This significant follow-on order expands Norway's total K9 fleet to 52 systems. Trust between the parties is already proven, with NDMA Director General Gro Jaere citing “efficient processes and good cooperation with Hanwha

Nov 24, 2025By Nam Hyun-woo
K-defense shifts Nordic security landscape

Korean EV makers sandwiched by rapid influx of Chinese, European rivals

Local electric vehicle (EV) makers are facing increasing threats from their Chinese and European peers, as they are moving to expand further into the Korean market next year, as the government is set to sharply increase subsidies for all-electric cars. The government recently decided to allocate 936 billion won ($634 million) for EV subsidies in 2026, up 20 percent from the previous year. The significant increase in the budget reflects the government’s commitment to supporting the growth of the local EV industry and sustainable mobility. Overseas carmakers, particularly from China and Europe, are looking to capitalize on opportunities by expanding their sales lineups and capturing a larger market share at this early stage of the EV industry here. BYD is rapidly establishing its presence in Korea, rising to become the nation’s fourth-largest imported EV maker by sales. The Chinese EV maker launched its Korean operations less than a year ago, in January. According to data from the Korea Automobile Importers & Distributors Association, BYD Korea’s cumulative EV sales reached 3,791 uni

Nov 24, 2025By Lee Min-hyung
Korean EV makers sandwiched by rapid influx of Chinese, European rivals

HD Hyundai bags $1.4 bil. container ship order from HMM

HD Hyundai has clinched its most lucrative container ship construction order since 2007, signing a contract with global shipping company HMM to build eight vessels in a deal valued at 2.13 trillion won ($1.4 billion). The engineering conglomerate said Monday that its intermediate holding company, Korea Shipbuilding & Offshore Engineering (KSOE), secured the order to construct eight 13,400 twenty-foot equivalent unit (TEU) container ships for HMM. According to HD Hyundai, the new vessels will be equipped with dual-fuel engines running on liquefied natural gas (LNG) and with a fuel tank 50 percent larger than that of the company’s latest model. Each ship will measure 337 meters in length, 51 meters in width and 27.9 meters in height. HD Hyundai Heavy Industries will build two ships and HD Hyundai Samho will build six, with all deliveries scheduled for completion by the first half of 2029. The ships will also be fitted with HiNAS Control, an autonomous navigation system developed by Seoul-based Avikus that has been installed on the conglomerate’s vessels since 2023. The system, combined

Nov 24, 2025By Ko Dong-hwan
HD Hyundai bags $1.4 bil. container ship order from HMM

Hanwha Ocean wins $515 mil. VLCC order in Africa

Hanwha Ocean Co., the shipbuilding arm of South Korea's chemical-to-defense conglomerate Hanwha Group, said Monday it has secured a 757.7 billion-won ($515 million) order for oil carriers from a shipper in Africa. Under the contract, the company will build four very large crude carriers (VLCCs) for an unidentified Africa-based shipping firm by November 2028, it said in a regulatory filing. Hanwha Ocean has clinched $6.97 billion worth of orders so far this year. It secured $8.98 billion in orders in 2024.

Nov 24, 2025By Yonhap
Hanwha Ocean wins $515 mil. VLCC order in Africa

SK earthon acquires 34% stake in Indonesian oil block

SK earthon, a Korean oil exploration and production (E&P) company, said Monday it has acquired a stake in a potential oil block in Indonesia as part of its efforts to expand overseas E&P activities. SK earthon said it has taken over a 34 percent stake in the North Ketapang block from Malaysia's Petronas North Ketapang Sdn. Bhd., joining the project alongside two existing partners. The other stakeholders are Petronas North Ketapang, which holds a 51 percent stake, and Indonesia's state-run oil company PT Pertamina Hulu Energi North Ketapang, which owns the remaining 15 percent in the block located northeast of Java Island. "The latest investment is part of the company's strategy to establish a resources development cluster in Southeast Asia. SK earthon aims to develop Indonesia as its E&P hub in the region, where the company is also carrying out projects in Vietnam, China and Malaysia," a company official said. SK earthon said it expects business synergies through the partnership as the two other operators have decades of experience in E&P operations in Indonesia. In May, SK earthon secure

Nov 24, 2025By Yonhap
SK earthon acquires 34% stake in Indonesian oil block

Judoka paralyzed in training rewarded for empowering disabled people with jobs

A former Korean national judo team member who became paralyzed after a training accident has been named the grand prize winner of the third HD Hyundai Honor Awards, recognized for his four decades of efforts to empower disabled people to lead independent lives by securing jobs. The HD Hyundai 1% Nanum Foundation, a charity funded by donations from HD Hyundai employees, announced Monday that Eden Welfare Foundation founder Jeong Deok-hwan will receive 150 million won ($102,000) as this year's top prize recipient. Since establishing Eden Welfare Foundation in 1983, Jeong has focused on enabling disabled individuals to become self-sufficient rather than dependent on others. Over the past four decades, the foundation has helped a total of 1,303 people with disabilities find employment. In 2008, Jeong advocated for a law requiring public institutions to prioritize products manufactured by people with severe disabilities. In 2019, he led the Eco-Fair campaign to promote eco-friendly goods made by marginalized groups. “The award recipients have made a real difference in the lives of those in

Nov 24, 2025By Park Jae-hyuk
Judoka paralyzed in training rewarded for empowering disabled people with jobs

Hyundai Motor Group seeks to overcome US tariff with large SUVs

Hyundai Motor and Kia are accelerating efforts to reduce the impact of U.S. tariffs by expanding its lineup of large hybrid SUVs. Hyundai Motor Group’s three affiliates — Hyundai Motor, Kia and Genesis — are rapidly adding hybrid variants to their profitable, large-size SUV lineups in a bid to counter earnings shocks this year caused by the imposition of a 25-percent tariff on car imports to the U.S. After Korea and the United States completed their high-profile negotiations late last month, the carmakers’ tariff burden has fallen to 15 percent as of Nov. 1. In response, the Korean automakers are set to maximize U.S. sales of large hybrid SUVs, which typically offer higher profit margins than smaller cars with internal combustion engines. Hyundai Motor is poised to increase exports of its hybrid Palisade SUVs on strong U.S. demand. In October, Hyundai Motor America sold 9,549 Palisade SUVs, up 6 percent from the previous year. The carmaker started sales of the hybrid version of the vehicle the same month. Kia also recently launched a hybrid version of its fully-redesigned Tellurid

Nov 24, 2025By Lee Min-hyung
Hyundai Motor Group seeks to overcome US tariff with large SUVs
previous page
155156157158159
next page

Most Read in Business