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 hynix set to boost AI readiness with expanded Yongin investment: experts

SK hynix expanded investment plan for its new chip cluster will bolster its responsiveness to soaring global demand for memory chips amid the artificial intelligence (AI) boom, industry watchers said Tuesday. During a meeting held Sunday with President Lee Jae Myung and leaders of other major conglomerates, SK Group Chairman Chey Tae-won said SK hynix aims to increase investment in the Yongin semiconductor cluster, just south of Seoul, beyond the initially proposed 128 trillion won ($85.5 billion) by 2028. "The amount of investment continues to change, following the growing demand for memory chips and upgrades of the manufacturing process," Chey said during Sunday's televised meeting. "While it is difficult to estimate the exact amount, around 600 trillion won will be invested in Yongin alone," Chey added. According to sources, the Yongin government recently increased the floor area ratio at the site to 490 percent from the previous 350 percent, with the building height limit also eased to 150 meters from the earlier 120 meters. The adjustments to the plan initially unveiled in 2019 came

Nov 18, 2025By Yonhap
SK hynix set to boost AI readiness with expanded Yongin investment: experts

Samsung Electronics chairman departs for UAE for business talks

Samsung Electronics Chairman Lee Jae-yong departed for the United Arab Emirates (UAE) on Monday for a business roundtable aimed at strengthening cooperation between the two countries' business communities. Lee is expected to discuss collaboration in advanced technologies, including artificial intelligence (AI), with UAE officials. The roundtable will take place on the second day of President Lee Jae Myung's trip to the country, following visiting the mausoleum of the UAE's founding president, Zayed bin Sultan Al Nahyan. Last month, on the sidelines of the two-day Asia-Pacific Economic Cooperation summit in the southeastern city of Gyeongju, President Lee met with Abu Dhabi Crown Prince Sheikh Khalid bin Mohamed Al Nahyan. At the time, the two countries agreed to enhance cooperation in the defense, investment, energy and advanced technology sectors, such as AI. The upcoming roundtable is expected to involve South Korean conglomerates, including Samsung Electronics and SK Group, which will explore concrete collaboration opportunities.

Nov 17, 2025By Yonhap
Samsung Electronics chairman departs for UAE for business talks

Korea’s top export sectors could be overtaken by China within 5 years: survey

All of Korea’s 10 key export industries could be overtaken by Chinese companies within five years, according to a survey of domestic companies with the highest sales in those sectors released Monday. The bleak outlook, revealed in the survey by the Federation of Korean Industries (FKI), reflects how much pressure Korea’s leading businesses now feel from Chinese rivals, with some competitors already surpassing them in global competitiveness. Among the country’s top 1,000 companies by sales, 200 participated in the survey. When asked which country is currently Korea’s largest competitor in the global market, 62.5 percent of respondents selected China, followed by the U.S. at 22.5 percent and Japan at 9.5 percent. When asked which country will be Korea’s biggest competitor in five years, an even larger portion, 68.5 percent, chose China, while 22 percent selected the U.S. and 5 percent chose Japan. The survey also asked respondents to compare the overall market competitiveness of other countries with Korea, which was fixed at a value of 100. Respondents said China currently score

Nov 17, 2025By Ko Dong-hwan
Korea’s top export sectors could be overtaken by China within 5 years: survey

LS Electric wins transformer deal for North American data center

LS Electric has won a major power infrastructure contract worth 110 billion won ($75.37 million) for an artificial intelligence (AI) data center in North America, the company said Monday. The company will supply its transformers and a series of other power supply solutions for two years starting in 2026 to an undisclosed client in the United States. The project is aimed at establishing power infrastructure for an AI data center in the region. LS Electric is expected to secure similar contracts from global clients amid the rapid expansion of AI services and data centers. The latest outcome came around a week after the company announced another contract to supply its switchgears and transformers used to supply power to a data center in Tennessee. The company won the deal worth 132.9 billion won from an AI tech firm in the U.S. Under the contract, LS Electric will supply its power solutions to the data center until April 2026. “We have been recognized for our technological excellence and reliability from our global client,” an LS Electric said. “LS Electric is expected to expand its b

Nov 17, 2025By Lee Min-hyung
LS Electric wins transformer deal for North American data center

Can new models revive Mercedes-Benz Korea’s EV sales?

Mercedes-Benz Korea faces the task of promptly reviving its electric vehicle (EV) sales with its pair of upcoming all-electric models — the CLA sedan and GLC SUV — as the iconic luxury carmaker loses its electric market share to Tesla and BMW. Mercedes-Benz still maintains its position in Korea's super-luxury vehicle market with its flagship S-Class models and the carmaker’s Maybach sub-brand. In the EV market, however, the carmaker is struggling with sharply declining sales, falling behind emerging EV rivals as well as its longtime competitor, BMW Korea. Meanwhile, Tesla, one of the fastest growing carmakers in Korea, reported outstanding growth in auto sales this year. According to data from the Korea Automobile Importers & Distributors Association (KAIDA), Tesla sold 47,962 EVs for the first 10 months combined here, up 92.8 percent from a year earlier, on the strong popularity of its Model Y mid-size electric SUV. BMW Korea's sales reached 9,454, up 15.6 percent, during the same period. Despite the robust sales growth of its rival carmakers, Mercedes-Benz Korea sold just 2,945 EV

Nov 17, 2025By Lee Min-hyung
Can new models revive Mercedes-Benz Korea’s EV sales?

Low-cost coffee chain The Venti to enter US market

SNC Sein, the operator of low-cost coffee brand The Venti, said Monday it will enter the United States next year by opening its first local outlet in Las Vegas. Earlier this month, SNC Sein signed a multiunit franchise agreement with JINP to operate multiple Venti outlets for a set period in the western region of the U.S., the company said in a press release. The Korean company said it plans to open additional outlets across the western U.S. region. SNC Sein currently operates four Venti outlets in Canada and one in Vietnam, in addition to some 1,500 stores in Korea. In July, the company signed a master franchise deal with JKT Networks in Jordan to open its first outlet in the Middle Eastern country later this year, with plans to expand into other markets in the region and North African countries. Under the master franchise deal, the master franchisee is granted the right not only to open franchise units in a designated territory but also to sub-franchise them to third parties.

Nov 17, 2025By Yonhap
Low-cost coffee chain The Venti to enter US market

FTC considering sanctions on delivery platform Baemin over alleged unfair practices: sources

The antitrust watchdog has begun procedures to impose sanctions on Baedal Minjok, or Baemin, one of the largest food delivery platforms in the country, over alleged unfair market practices, sources said Monday. The Fair Trade Commission recently sent a statement of objections to Woowa Brothers, the operator of Baemin, after completing its investigation into allegations the company pressured restaurants to use the company's delivery service, according to the sources familiar with the matter. Baemin is accused of having violated the fair trade act by inducing restaurants to use the "Baemin delivery" service, even when they prefer using their own couriers or those from other companies. The FTC is said to be planning to reach its final decision on whether to slap sanctions, which may include corrective orders or fines, on Woowa Brothers after receiving the company's opinion on the matter. The FTC has also been looking into alleged unfair market practices by another major food delivery platform, Coupang Eats, such as forcing bundle sales of other services provided by its operator Coupang.

Nov 17, 2025By Yonhap
FTC considering sanctions on delivery platform Baemin over alleged unfair practices: sources

Hyundai Glovis ships over 40 Korean weapons systems to Poland

Global shipping company Hyundai Glovis has successfully delivered more than 40 large Korean defense systems to Poland, showcasing its logistics capabilities for sensitive national security assets. The Hyundai Motor Group subsidiary said Monday that 20 K2 Black Panther battle tanks made by Hyundai Rotem and 21 Thunder self-propelled howitzers by Hanwha Aerospace arrived safely at the Port of Gdansk. The weapons were transported on a break-bulk ship, a vessel typically used for noncontainerized cargo such as cars, trains and construction equipment. Its roll-on and roll-off system allowed the tanks and howitzers to be loaded and unloaded without disassembly. After reaching the port, the weapons were delivered to their final destination by Hyundai Glovis’ logistics subsidiary Adampol. Hyundai Glovis said it has shipped a total of 124 K2 tanks and 60 K9 howitzers to Europe this year, strengthening its presence in the global break-bulk shipping market. The company currently operates 35 break-bulk ships of its own and borrows 59 from partners worldwide. In addition to defense exports, Hyundai

Nov 17, 2025By Ko Dong-hwan
Hyundai Glovis ships over 40 Korean weapons systems to Poland

HD Hyundai XiteSolution lands Venezuela EV forklift deal

HD Hyundai XiteSolution has secured a large-volume order for electric forklifts in an emerging Latin American market. The company announced Monday that it received an order for 230 electric forklifts from Empresas Polar, the largest food company in Venezuela. Under the deal, the Korean company will supply 178 two-ton electric forklifts and 52 three-ton and four-and-a-half-ton models to the local market by January 2026. The company also plans to participate in follow-up bids from Empresas Polar. Valued at more than 10 billion won ($6.9 million), the project marks the largest electric forklift supply contract the company has ever signed in Latin America. The order comes as a result of an early response to the region’s growing demand for electrification. HD Hyundai XiteSolution identified the optimal timing to replace the client’s aging diesel forklifts, previously produced by Toyota, and proposed products tailored to local working environments, while leveraging its on-site service capabilities to secure the deal. All forklifts are equipped with high-performance lithium-ion batteries tha

Nov 17, 2025By Ko Dong-hwan
HD Hyundai XiteSolution lands Venezuela EV forklift deal

Samsung to invest 450 tril. won over next 5 years

South Korean tech giant Samsung Group unveiled Sunday a 450 trillion won ($309.1 billion) investment plan for the next five years, as part of broader efforts to ramp up domestic investment after Seoul concluded its trade deal with the United States. Samsung Electronics, the crown jewel of the country's No. 1 conglomerate, will push to launch the framework construction of one of its chip plants in the main Pyeongtaek compound, home to Samsung's semiconductor manufacturing, the company said. The decision, which also includes investment plans for research and development, was reached at a recent ad-hoc management committee, it said. The new Line 5 chip production line is slated to begin commercial operations in 2028, helping the company better meet rising demand for memory chips amid the global surge in artificial intelligence (AI). Samsung SDS, the ICT unit of Samsung, will build a large-scale AI data center in South Jeolla Province in the country's southwest. The AI data center aims to acquire 15,000 graphics processing units by 2028 and provide them to universities, startups and small an

Nov 16, 2025By Yonhap
Samsung to invest 450 tril. won over next 5 years
previous page
159160161162163
next page

Most Read in Business