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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.

US-China maritime deal likely to lift sanctions on Hanwha Ocean

Hanwha Ocean is expected to benefit from the trade deal struck between United States President Donald Trump and Chinese President Xi Jinping, as Beijing will presumably lift sanctions on Hanwha Ocean’s U.S. subsidiaries as a result of the agreement. According to a fact sheet released by the White House on Sunday, “China will remove measures it took in retaliation for the U.S.’s announcement of a Section 301 investigation on China’s Targeting the Maritime, Logistics and Shipbuilding Sectors for Dominance, and remove sanctions imposed on various shipping entities.” Washington also noted that it will suspend implementation of the responsive actions taken as part of the Section 301 investigation on China for one year, starting Nov. 10, and negotiate with China while “continuing its historic cooperation with the Republic of Korea and Japan on revitalizing American shipbuilding.” The fact sheet is an outcome of the Trump-Xi summit in Busan on Thursday, on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province. The Section 301 investig

Nov 2, 2025By Nam Hyun-woo
US-China maritime deal likely to lift sanctions on Hanwha Ocean

Hyundai Motor signs MOU with Singapore to boost future mobility cooperation

Hyundai Motor, Korea's leading carmaker, said Sunday it has signed an agreement with Singapore's science and technology agency to cooperate on advanced technologies on mobility solutions. The memorandum of understanding (MOU) between the automaker and Singapore's Home Team Science and Technology Agency (HTX) was signed on Friday during the K-Tech Showcase event held in the southeastern city of Gyeongju, North Gyeongsang Province, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. Established in 2019 under Singapore's internal affairs ministry, HTX is a research agency that develops advanced technologies in public safety, border security, chemical and biological defense and security systems. Under the agreement, the two sides agreed to explore joint research on robotics, hydrogen and other future mobility technologies. Hyundai will carry out a pilot project of technology demonstrations to improve the operational efficiency of Singapore's government fleet using its multipurpose modular electric platform through 2028, which will mark the first mobility technology demon

Nov 2, 2025By Yonhap
Hyundai Motor signs MOU with Singapore to boost future mobility cooperation

Local chain Frank Burger fined for unfair biz practices

Frank F&B, operator of the handcrafted burger franchise Frank Burger, was fined for engaging in unfair practices against its franchisees, the antitrust regulator said Sunday. The Fair Trade Commission (FTC) said it imposed a fine of 641 million won ($448,032), along with corrective actions, for the company's violations of the Franchise Business Act. The company is accused of distributing franchise brochures containing false or exaggerated projected earnings to potential franchisees for about a year from January 2021. It also allegedly forced franchisees to purchase 13 items, including forks and knives, exclusively from the headquarters, even though these were not necessary for maintaining product quality. As a result, the firm earned extra franchise fees of around 140 million won. Additionally, the FTC found that after launching a new menu in May 2023, Frank Burger ran promotional events providing gifts but failed to obtain franchisee consent to cover part of the costs. "The measures are intended to support reasonable decision-making by prospective franchisees, prevent economic harm and h

Nov 2, 2025By Yonhap
Local chain Frank Burger fined for unfair biz practices

Korean shipbuilding gains momentum at APEC

This year’s Asia-Pacific Economic Cooperation (APEC) was a successful global negotiation table for Korean shipbuilders, as companies signed multiple partnerships to advance digitalized shipbuilding practices and expand their presence in APEC economies. HD Hyundai said Sunday it has signed a strategic collaboration for U.S. shipbuilding revitalization with Siemens on the sidelines of the APEC CEO Summit, which took place from Oct. 29 to 31. Through the memorandum of understanding, the two companies aim to enhance the overall competitiveness of the U.S. shipbuilding industry by improving design quality, minimizing process risks and reducing costs. By combining HD Hyundai’s shipbuilding expertise with Siemens’ digital twin and business platform technologies, the partnership seeks to accelerate digital transformation across production processes and maximize efficiency, HD Hyundai said. They will realize digital advancement in shipbuilding, improve automation in block assembling, and optimize production, quality and procedure by progressing them based on a database. HD Hyundai said they

Nov 2, 2025By Ko Dong-hwan
Korean shipbuilding gains momentum at APEC

SK chairman says Korea can serve as ‘test bed’ for global AI development

SK Group Chairman Chey Tae-won said Korea can play a crucial role “as a test bed” for the global artificial intelligence (AI) ecosystem, citing the country’s strength in adopting new technologies quickly and applying them to the real world. In an interview with Bloomberg TV on the sidelines of the Asia-Pacific Economic Cooperation CEO Summit in Gyeongju, North Gyeongsang Province, Chey said Korea may not have as many resources as the United States or China, but it offers an ideal environment for testing new AI technologies. “Our side is good for the test. There is physical AI, bio side and even the regulations, and we’ve got a really good test bed,” he said, adding that Korea’s fast adoption of new technologies makes the country an ideal location for AI experiments. He noted that while the AI industry contains “some bubbles,” the overall technology and market remain on a growth trajectory. “Right now, the cost of AI is too much, and that’s why people [are] just saying that there’s a lot of bubbles,” Chey said. “But this is just an early stage. Even though ther

Nov 2, 2025By Nam Hyun-woo
SK chairman says Korea can serve as ‘test bed’ for global AI development

SK spearheads global dialogue on AI, energy at APEC CEO Summit

The 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit finished its four-day program on an upbeat note, drawing participation from the leaders of the 21 APEC member economies and some 1,700 global business executives. Held from Oct. 29 to 31, the event successfully served as a platform for global economic leaders to discuss the future of artificial intelligence (AI), energy and other key industries. Central to those discussions was SK Group, whose chairman, Chey Tae-won, also served as summit host, as the group's affiliates presented innovative ideas and directed participants' efforts to explore opportunities. Addressing AI bottleneck As an official side event of the CEO Summit, SK Group hosted the Future Tech Forum Series: AI on Oct. 28, sharing insights from global leaders in the AI supply chain. At the forum, experts, including Chey, Korea’s senior presidential secretary for AI Ha Jung-woo, Amazon Web Services (AWS) CEO Matt Garman, Naver CEO Choi Soo-yeon, OpenAI Korea General Manager Kim Kyoung-hoon and Meta Vice President Simon Milner shared their views on how AI is driving

Nov 2, 2025By Nam Hyun-woo
SK spearheads global dialogue on AI, energy at APEC CEO Summit

Nvidia CEO expresses 'tremendous confidence' in Korea's semiconductor manufacturing field

GYEONGJU, North Gyeongsang Province —Nvidia CEO Jensen Huang has reaffirmed his faith in Korea’s technological landscape, announcing a series of collaborations with the country’s leading companies – Samsung, SK Group, Hyundai Motor Group and Naver – and its government, including the supply of a total of 260,000 Nvidia Blackwell graphics processing units (GPUs) to Korea. “I have tremendous confidence in Korea’s semiconductor manufacturing and design capabilities,” the CEO said during a media event following his speech for the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju, Friday. “We are very happy to partner with Korean companies on high-bandwidth memory (HBM)3e and HBM4. I am 100 percent confident that Samsung and SK hynix will be long-term partners of ours to create HBM4, HBM5 and HBM97 … As you know, Korea is world-class in memory technology; the world's best country at making memory technology of every kind.” The company has unveiled major plans to supply 50,000 Nvidia Blackwell graphics processing units (GPUs) to Samsung Electronics, SK and H

Oct 31, 2025By Lee Gyu-lee
Nvidia CEO expresses 'tremendous confidence' in Korea's semiconductor manufacturing field

JungKwanJang emerges as unexpected beneficiary of Nvidia CEO’s Korea visit

Korean red ginseng brand JungKwanJang has unexpectedly found itself in the global spotlight during Nvidia CEO Jensen Huang’s visit to Korea, after a fan handed him a hallabong-flavored JungKwanJang Everytime red ginseng extract stick. Hallabong is a Korean winter citrus fruit, famously grown on Jeju Island, and its sweet, tangy taste makes it a popular flavor for health supplements. The lighthearted moment quickly went viral, turning the product into an unforeseen star of the visit. On Thursday, Huang, visiting Korea for the first time in 15 years, joined Samsung Electronics Executive Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun for a casual gathering over fried chicken and beer at Kkanbu Chicken in western Seoul. Hundreds of people gathered outside the restaurant to catch a glimpse of the tech CEO, who spent about five minutes taking photos and greeting fans. Among the crowd, one citizen held up a tablet displaying Huang’s photo while offering him a ginseng stick. Curious, Huang asked, “What is this? Is this good for my health?” The fan explained i

Oct 31, 2025By Kang Seung-woo
JungKwanJang emerges as unexpected beneficiary of Nvidia CEO’s Korea visit

Samsung SDI, BMW to jointly validate all-solid-state batteries

Samsung SDI announced Friday that it has signed a trilateral agreement with Germany’s premium automaker BMW Group and U.S.-based battery technology company Solid Power to collaborate on an all-solid-state battery (ASSB) validation project. Under the agreement, Samsung SDI will supply ASSB cells featuring enhanced energy density and safety by using Solid Power’s solid electrolyte technology. BMW will develop modules and packs for the ASSB cells. The three companies will jointly evaluate the performance of the batteries under agreed parameters and integrate them into BMW’s next-generation evaluation vehicles. Unlike conventional lithium-ion batteries that use liquid electrolytes, ASSB cells rely on solid electrolytes, offering improved safety and higher energy density. The technology enables electric vehicles (EVs) to achieve longer driving ranges without increasing the overall battery system’s weight. The collaboration marks a significant step in establishing a practical global value chain for ASSBs, combining each partner’s strengths in cell manufacturing, automotive engineeri

Oct 31, 2025By Kang Seung-woo
Samsung SDI, BMW to jointly validate all-solid-state batteries

Kia’s profit halves amid expanded US tariff shock

Kia has extended a losing streak in its quarterly earnings between July and September, bearing a large-scale loss stemming from the 25 percent auto tariff set by the United States, the carmaker said Friday during a regulatory filing. The carmaker suffered a bigger earnings shock than Hyundai Motor, which saw its operating profit decline almost 30 percent from the same U.S. tariff issue. Kia reported an operating profit of 1.46 trillion won ($1.02 billion) in the third quarter, down 49.2 percent from the previous year. Its sales, however, increased 8.2 percent to 28.68 trillion won during the same period. The carmaker explained that it achieved record third-quarter sales thanks to growing demand for its hybrid and electric cars across the globe, but ended up reporting a sharp profit fall due to the aftermath of the U.S. auto tariffs, increased global incentives and an unfavorable macroeconomic environment. Kia, a fast mover in the global electric vehicle (EV) market, achieved solid EV sales growth in the global market. Data from the carmaker showed that the carmaker’s eco-friendly vehic

Oct 31, 2025By Lee Min-hyung
Kia’s profit halves amid expanded US tariff shock
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