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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.

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

Andar seeks to distance itself from founder over problematic behavior

Korea's rising sportwear brand Andar on Sunday distanced itself from its founder couple as the firm sought to prevent the disgraced former leaders from tarnishing its public reputation. Andar’s move came after an appeals panel of the Seoul Western District Court on Thursday upheld the one-year prison sentence of Oh Dae-hyun, former Andar director and husband of the firm’s founder and former CEO, Shin Ae-ryun, by dismissing Oh's appeal. The same court had sentenced Oh last year for violating the country’s National Security Act by collaborating with a North Korean hacker to operate an illegal private server for network gamers in 2014 to 2015. Andar CEO Kong Sung-ah said in a statement that she wants her company to erase any trace of Oh and Shin, who resigned together in 2021. She added that the company has been seeing improved performance and rising public trust and aims to protect its reputation by distancing the brand from the controversial couple’s actions. “This is to make clear that we in 2021 completely dismissed Oh and Shin from our organization and entrusted our company

Nov 16, 2025By Ko Dong-hwan
Andar seeks to distance itself from founder over problematic behavior

US naval chief explores HD Hyundai, Hanwha Ocean shipyards

The United States' chief of naval operations visited the shipyards of HD Hyundai and Hanwha Ocean on Saturday to check the top Korean shipbuilders’ capabilities and potential on strengthening the U.S. Navy's battleships and naval fleet. Admiral Daryl Caudle's visit came after the Korean government in July proposed what it called “make American shipbuilding industry great again" (MASGA), a $150 billion investment in which Korean firms will assist in reviving the American shipbuilding industry. MASGA played a key role in helping to finalize the two countries’ negotiations regarding the U.S. tariffs, which had lasted for months. According to HD Hyundai, Caudle and Kevin Kim, charge d'affaires ad interim at the U.S. Embassy in Seoul, met HD Hyundai Chairman Chung Ki-sun at HD Hyundai Heavy Industries’ headquarters in Ulsan. Chung introduced Caudle to HD Hyundai’s advanced shipbuilding technologies and discussed how to improve the U.S. fleet through the two countries’ strategic partnerships in naval shipbuilding. Chung guided Caudle through the HD Hyundai subsidiary’s commercia

Nov 16, 2025By Ko Dong-hwan
US naval chief explores HD Hyundai, Hanwha Ocean shipyards

Mini car sales expected to remain below 100,000 units for 2nd year

Sales of mini cars by Korea's five automakers are expected to remain below 100,000 units for a second consecutive year in 2025, industry data showed Sunday, amid a lack of new models and shifting consumer preferences. From January to October, the five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Korea Motors and KG Mobility Corp. — sold a combined 60,004 mini cars, down 27.3 percent from 82,485 units a year earlier, according to their sales data. If the trend continues, annual mini car sales are expected to come in at around 70,000 units this year, marking a record-low level. GM Korea halted production of its Chevrolet Spark last year, pulling total annual mini car sales below 100,000 units for the first time, to 98,743 vehicles, the data showed. Mini car models currently available in the domestic market include Hyundai Motor's Casper and Kia's Ray and Morning. The downward trend appears to stem from a shortage of new mini car models, delays in upcoming launches, and growing consumer preference for small sport utility vehicles (SUVs) amid rising demand for outdoor l

Nov 16, 2025By Yonhap
Mini car sales expected to remain below 100,000 units for 2nd year

Lee to meet biz leaders, discuss follow-up measures for US trade deal

President Lee Jae Myung was set to meet with leaders of key conglomerates later Sunday to discuss follow-up measures following the release of a joint fact sheet on bilateral trade and security agreements with the United States. The meeting comes two days after Seoul and Washington released the joint document outlining agreements reached in their recent summit talks, including Seoul's $350 billion investment plans in the U.S. in exchange for reducing U.S. tariffs from 25 percent to 15 percent. The meeting, scheduled for 2 p.m., will be attended by Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang-mo and several other chief executives of conglomerates, including HD Hyundai and Hanwha, according to the presidential office. In the meeting, Lee is expected to explain the details of the final trade deal and steps that could follow, as well as underscore the need to work together as "one team" in adapting to various changes in the current trade landscape. The fact sheet covers core business se

Nov 16, 2025By Yonhap
Lee to meet biz leaders, discuss follow-up measures for US trade deal

Kia completes construction of 1st PBV plant in Hwaseong

Kia announced the completion of the first phase of its much-anticipated Platform Beyond Vehicle (PBV) factory, known officially as the EVO Plant, in Hwaseong, Gyeonggi Province, Friday. The automaker said the facility, once fully completed, is expected to become a major hub for PBV production, with an annual capacity of 250,000 units. The plant consists of two parts — the EVO Plant East and EVO Plant West. Kia held a completion ceremony for the east plant and a groundbreaking ceremony for the west building on the same day. The PBV is a type of modular electric vehicle with a flexible chassis, so users can change the body of the vehicle in line with their driving purpose. The west plant is scheduled to start operations in 2027. Kia has secured some 300,000 square meters of land — roughly the size of 42 football fields — for the two EVO plants. The carmaker will invest some 4 trillion won ($2.73 billion) for the PBV manufacturing facilities and additional research for the new type of vehicles. The east plant will be used to produce Kia’s flagship PBV — the PV5 — with an annual

Nov 14, 2025By Lee Min-hyung
Kia completes construction of 1st PBV plant in Hwaseong

Despite easing of uncertainty, fact sheets still have points of contention

The joint fact sheets on the Korea-United States trade negotiations released Friday have eased much of the uncertainty facing domestic manufacturing industries by confirming the application of a 15 percent tariff. However, several contentious issues remain unresolved in areas such as digital trade, semiconductors and genetically modified organism (GMO) agricultural products, likely signaling further debates ahead. According to the fact sheets, the two countries “commit to ensure that U.S. companies are not discriminated against and do not face unnecessary barriers in terms of laws and policies concerning digital services, including network usage fees and online platform regulations.” The U.S. has previously taken issue with Korea’s “nontariff barriers” in digital services, with the U.S. Trade Representative (USTR) publishing reports for years that cite the National Assembly’s efforts to impose network usage fees and pass laws regulating large online platforms to prevent unfair practices against small merchants. In Korea and many other countries, U.S. content providers such as

Nov 14, 2025By Nam Hyun-woo
Despite easing of uncertainty, fact sheets still have points of contention

Mercedes-Benz showcases 4 new EV models in Korea

YEONGJONG ISLAND, Incheon — Mercedes-Benz Korea, Friday, showcased its upcoming all-electric vehicle (EV) lineup during its Future Strategy Conference. The EVs are set to debut in the country starting in 2026. The lineup includes a sedan, SUV, high-performance car and a van. The all-new electric CLA sedan and the all-new electric GLC SUV — two strategic vehicles that will spur EV sales growth for Mercedes-Benz Korea — will be available for sale as early as 2026. The carmaker also introduced its CONCEPT AMG GT XX high-performance four-door vehicle featuring hyper-fast charging. It is powered by three axial-flux motors and a special battery inspired by Formula 1. The Vision V chauffeur-driven luxury limousine was unveiled in Korea for the first time during the event, as part of the carmaker’s group-wide plan to launch 40 new vehicles globally by 2027. Mercedes-Benz will also release most of the new cars for the Korean market to meet the strong demand for luxury cars from local customers, the company said. Mercedes-Benz Group Chairman Ola Kallenius shared the carmaker’s renewed vis

Nov 14, 2025By Lee Min-hyung
Mercedes-Benz showcases 4 new EV models in Korea

Chances of becoming a corporate executive in Korea drop below 1%

The odds of becoming a corporate executive in Korea continue to shrink. That raises the question: Would Kim Nak-su, the old-fashioned yet sympathetic protagonist of the hit K-drama "The Dream Life of Mr. Kim," ever have a shot at joining the executive ranks of a major company? According to a new survey, the likelihood of reaching an executive position is now below 1 percent. According to an analysis released Tuesday by the Korea CXO Research Institute, the top 100 Korean firms employ a combined 861,076 workers, up 1.4 percent from a year earlier. Over the same period, the number of nonregistered executives fell 1.5 percent from 7,135 to 7,028. The findings are based on semiannual reports submitted this year by the top 100 listed companies by revenue in 2024. With the number of employees growing and executive positions shrinking, each executive at a top 100 company now supervises an average of 123 workers. Executives, therefore, make up just 0.82 percent of the workforce, highlighting the steep competition for the upper ranks. The executive share, which fell from 0.95 percent in 2011 to 0

Nov 14, 2025By Hankookilbo
Chances of becoming a corporate executive in Korea drop below 1%

APR showcases Medicube’s beauty technology at Manhattan pop-up

APR, a leading beauty and skincare device company, has drawn attention with its latest pop-up store in Manhattan, cementing its market presence in the global hot spot. The company said on Thursday that the pop-up, held from Oct. 24 to Nov. 2, showcased its key product lineup under its signature brand, Medicube, including skincare device AGE-R Booster Pro and cosmetic products. The company said some 12,000 people visited the store, including American model and TV personality Kendall Jenner. At the store, visitors could experience the brand by playing an arcade game developed for consumers to better understand different functions of the company’s beauty devices. For example, the game promoted AGE-R Booster Pro’s four main skin-rejuvenating functions by presenting their technological theories and effects. The pop-up store, named Glow Mode On, consisted of the arcade zone, exhibition zone and testing zone. The company said the store drew positive reactions from visitors by showcasing Medicube’s currently rising global popularity and providing engaging product experiences. Alongside the

Nov 14, 2025By Ko Dong-hwan
APR showcases Medicube’s beauty technology at Manhattan pop-up
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