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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.

Dunamu slapped with $24.3 mil. fine over customer identification violation

Korea's financial watchdog on Thursday slapped a fine of 35.2 billion won ($24.3 million) on Dunamu, the operator of the country's top cryptocurrency exchange, Upbit, for violating customer identification obligations. The Financial Intelligence Unit (FIU) under the Financial Services Commission said Dunamu did not comply with its obligations to verify the identities of users in about 5.3 million cases and committed other violations, including failing to report 15 suspicious transactions. In particular, the company accepted photocopies or re-photographed image files of user portraits, in which their identities could not be fully verified, instead of requiring original documents. There were also cases in which the address field of the customer identification documents was left blank or contained inaccurate or irrelevant information, according to the FIU. In addition, Dunamu violated its obligation to restrict transactions by users whose verification process had not been completed in 3.3 million cases. "We have completed protective measures for investors and will make efforts to prevent a re

Nov 6, 2025By Yonhap
Dunamu slapped with $24.3 mil. fine over customer identification violation

KT accused of concealing major malware infection, faces probe over customer data breach

Mobile carrier KT is facing mounting scrutiny after a government investigation found the company concealed a major malware infection last year. According to a joint government-private investigation team on Thursday, KT became aware between March and July 2024 that 43 of its servers had been infected with BPFDoor malware and other malicious code. The malware enables remote attackers to bypass firewalls and maintain long-term access to compromised systems. Despite detecting the breach, KT failed to notify authorities and attempted to address the issue internally, the team said Thursday. Investigators confirmed that the infected servers contained customers’ personal data, including names, phone numbers, email addresses and international mobile equipment identity numbers. The team called KT’s concealment of the breach a matter of “grave concern” and said it will coordinate with relevant agencies to determine appropriate legal measures. The same malware was used in an earlier hacking case involving SK Telecom, the country’s largest mobile operator. The probe also uncovered serious w

Nov 6, 2025By Nam Hyun-woo
KT accused of concealing major malware infection, faces probe over customer data breach

AMCHAM, FTC chair discuss Korea’s fair trade policy direction

The American Chamber of Commerce in Korea (AMCHAM) met with Ju Biung-ghi, the newly appointed chairperson of Korea’s Fair Trade Commission (FTC), in Seoul Thursday to exchange views on the new administration’s fair trade policy direction and key issues faced by global companies operating in the Korean market. As part of Ju’s ongoing series of industry outreach efforts following his appointment, the meeting served as a platform to discuss the administration’s fair trade policy priorities and to hear directly from foreign companies about their on-the-ground challenges in Korea. In his remarks, AMCHAM Chairman and CEO James Kim emphasized the importance of open communication between the government and the business community, noting that a transparent and predictable regulatory environment is essential to enhancing Korea’s competitiveness and attractiveness as an investment destination. “Building on the successful momentum from the APEC CEO Summit, AMCHAM looks forward to working closely with the Korean government, especially the FTC, to drive innovation, transparency and strong

Nov 6, 2025By Kang Seung-woo
AMCHAM, FTC chair discuss Korea’s fair trade policy direction

Hyundai Motor CEO calls for resilience, adaptability for sustainable growth

Hyundai Motor CEO Jose Munoz has urged its employees and executives to foster a deeper sense of resilience and adaptability to aid its sustainable growth and transformation into the world’s leading future mobility player, the carmaker said Thursday. “As I reflect on my first year as CEO, I am grateful for the dedication and resilience of our global team,” he said Wednesday during the 2025 Leaders Talk, the carmaker’s town hall meeting. “The automotive industry is transforming faster than ever, but I have never been more confident in our ability to navigate what’s ahead,” he said. “Our success in 2025 proved that adapting is truly part of our DNA.” The event was organized to share the carmaker’s strategic direction next year and reinforce its commitment to agility, innovation and sustainable growth, according to Hyundai Motor. Some 200 executives and employees attended the event at the carmaker’s office in Seoul, with around 7,500 other officials joining the event online. The head of the carmaker also reaffirmed its commitment to achieving 5.55 million global vehicle

Nov 6, 2025By Lee Min-hyung
Hyundai Motor CEO calls for resilience, adaptability for sustainable growth

Interview VAIV Company bets big on ‘profiling AI’ for global expansion

VAIV Company will make full use of “profiling artificial intelligence” (AI) as its next growth engine to drive global expansion and a major earnings rebound, its CEO Kim Kyeong-seo said during a recent interview. Profiling AI helps users to rapidly access summarized data of influencers or experts with specialty in a certain area. The technology is particularly useful for sorting out information about many people in a short period of time. The CEO of the AI analytics firm, listed on the tech-heavy Kosdaq, said the company has found a major business opportunity in the convergence of profiling AI and the global beauty industry. VAIV Company recently launched WHOTAG — an AI-driven beauty influencer search platform — targeting the rapid growth of the global beauty market and its relevant services. The company is betting big on the service amid the ever-toughening landscape of the global AI industry. Kim said any AI firms that stick to conventional services focusing on large language models (LLMs) can no longer survive. “Any AI or big data firms that offer traditional LLM services can

Nov 6, 2025By Lee Min-hyung
[INTERVIEW] VAIV Company bets big on ‘profiling AI’ for global expansion

LX women's baseball tourney returns for 4th straight year

The 2025 LX Cup Korea Women’s Baseball Championship, the nation’s only corporate-sponsored women’s baseball tournament, will take place at LG Champion's Park and Dream Stadium in Icheon, Gyeonggi Province, starting Saturday. Now in its fourth year, the LX Cup is co-hosted and organized by LX Group and the Women’s Baseball Association Korea (WBAK). Launched in 2022, the tournament aims to expand the base of women’s baseball in Korea and provide players with greater opportunities to develop their skills. This year’s edition, which runs to Nov. 16, will be the largest in the tournament’s history, featuring 47 teams and over 1,000 players. Twenty teams in the Champ League, the upper league, and 27 teams in the Future League, the lower league, will compete in a tournament format for the top spot in each division. Admission is free for all games. The opening match of the Champ League on Saturday and the final on Nov. 16 will be streamed live on YouTube. “We hope this tournament will offer players a meaningful opportunity for growth through fair and spirited competition,” said

Nov 6, 2025By Nam Hyun-woo
LX women's baseball tourney returns for 4th straight year

Korean Air ranks among top 3 airlines for cabin, services in USA Today awards

Korean Air said Thursday it has been ranked one of the world's top three airlines in the 2025 USA Today 10 Best Readers' Choice Awards for its business cabin and in-flight services. In the U.S. awards, the Korean flag carrier ranked second for Best Business & First Class, third for Best Inflight Food and third for Best Cabin Crew, the company said in a press release. It marks the third consecutive year the airline has ranked among the top three in multiple categories, reaffirming its reputation for exceptional service, premium comfort and culinary excellence, the company said. Last year, Korean Air introduced a new Prestige Class business-cabin product featuring lie-flat seats, upgraded in-flight entertainment and enhanced privacy for greater comfort. The airline offers Korean and international cuisine through "modern interpretations" of traditional dishes made with locally sourced ingredients. Signature offerings, such as beef brisket bibimbap and steamed abalone with rice, are paired with a curated wine list developed in collaboration with world-renowned sommelier Marc Almert, accordin

Nov 6, 2025By Yonhap
Korean Air ranks among top 3 airlines for cabin, services in USA Today awards

Renault Korea, GM Korea in urgent need for new vehicles as sales drop

Renault Korea and GM Korea are under growing pressure to launch new vehicles, as a lack of fresh models has led to a sharp decline in their sales, industry data showed Wednesday. Both companies have long been considered two of the so-called mid-tier automakers in Korea in terms of sales volume, but their positions are now being threatened by fast-rising brands like Tesla and solid sales performance from other conventional German luxury automakers. Renault Korea data shows it sold 7,201 vehicles last month, down 42.2 percent from the previous year. The sharp sales decline is attributable to the carmaker’s sales reliance on the Grand Koleos SUV and the Arkana compact SUV. Renault Korea enjoyed a long-awaited rebound in sales last year, driven by the success of its Grand Koleos hybrid SUV, for which cumulative sales reached 51,000 vehicles as of the end of last month. However, the new model sales effect has since faded just a year after its debut, as evidenced by the automaker’s drop in monthly sales in October. Renault Korea is going all out to spur sales growth with the upcoming launch

Nov 6, 2025By Lee Min-hyung
Renault Korea, GM Korea in urgent need for new vehicles as sales drop

Genesis BBQ expands its US fried chicken market to 33 states

Major fried chicken franchise Genesis BBQ has expanded into its 33rd U.S. state with the opening of a new store in South Carolina. Its latest expansion underscores the company’s continued growth across the southeastern United States. The move is part of the company’s broader initiative to establish a presence in all 50 states. Two BBQ stores have opened in South Carolina — one in Indian Land and another in Greenville. BBQ Chicken's Indian Land location is a 39.66-square-meter restaurant with 12 seats. Located near the border between North and South Carolina, the site is strategically positioned to attract customers from both states, according to the company. BBQ Chicken's Greenville location is a takeout-only store situated near Greenville Downtown Airport and Bob Jones University, an area with heavy foot traffic. BBQ said it selected South Carolina for its new locations because of the stable economy and strong population base. The state’s population reached 5.47 million last year, up 90,000 from the previous year — the 10th-highest growth rate among U.S. states in 2024. The av

Nov 6, 2025By Ko Dong-hwan
Genesis BBQ expands its US fried chicken market to 33 states

Hanwha chairman presents symbolic gifts to Eagles after runner-up finish

Hanwha Group Chairman Kim Seung-youn has presented orange-colored mobile phones to 60 players, coaches and staff members of the Hanwha Eagles, in recognition of their dedication throughout the season after the baseball team finished as runner-up in the 2025 Korean Series. The Daejeon-based team advanced to the championship series for the first time in 19 years. “I sincerely congratulate the Eagles on their Korean Series runner-up finish and send my heartfelt applause to the players who gave their all until the very end of the competition,” Kim said Tuesday. Kim, the team’s owner, praised the club’s achievement as a meaningful milestone. In 1999, when the Eagles last won the Korean Series, he shared tears of joy with the players. “The sweat they have shed on the path to second place will become a solid stepping stone for tomorrow’s championship,” he said. “I look forward to seeing the Eagles fly even higher.” Kim, 73, made headlines whenever he visited the club's baseball stadium, attending six games this year and nine last year. His active engagement with the team and fa

Nov 5, 2025By Lee Min-hyung
Hanwha chairman presents symbolic gifts to Eagles after runner-up finish
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