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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.

Hyundai Motor reports dismal earnings amid full-scale tariff shock

Hyundai Motor reported a sharp drop in third-quarter earnings Thursday, as the automaker faced the full impact of U.S. tariffs despite strong vehicle sales in its key export markets. In a regulatory filing, the Korean automaker reported an operating profit of 2.53 trillion won ($1.75 billion) in the July-to-September period, down 29.2 percent from the previous year. Its sales, however, increased 8.8 percent to 46.7 trillion won during the same period. Hyundai Motor was significantly affected by the U.S. tariff, but the carmaker said it would continue to introduce measures to enhance its profitability by diversifying powertrains and reshaping production strategies. The automaker said it reported an operating profit fall of 1.8 trillion won in the third quarter due to the 25 percent auto tariff imposed by the United States. However, the carmaker breathed a sigh of relief after Korea reached a tariff settlement with the U.S., allowing Hyundai Motor to export its vehicles to the American market at a reduced 15 percent tariff. This also allows the Korean carmaker to compete with its rivals fro

Oct 30, 2025By Lee Min-hyung
Hyundai Motor reports dismal earnings amid full-scale tariff shock

SK Telecom changes president following hacking fiasco

SK Telecom named its chief governance officer as new president Thursday, months after a hacking incident exposed the data of 25 million customers. SK Group said SK Telecom’s CGO, Jung Jai-hun, has been appointed as the company’s new president. Ryu Young-sang, who had served as president since 2021, has moved to the SK SUPEX Council, where he now leads the artificial intelligence (AI) committee. The council, comprising the CEOs of SK subsidiaries, serves as the group’s control tower and sets overall strategies. Under its new leader, SK Telecom has been reorganized into two company-in-company (CIC) units focused on telecommunications and artificial intelligence (AI), respectively. Han Myung-jin, CEO of the group’s investment arm SK Square, now heads the telecommunications CIC. He is tasked with strengthening SK Telecom’s competitiveness and restoring public trust after the data breach, which drew strong backlash from customers and lawmakers. The reshuffle is part of the group’s broader reorganization of top executives across key subsidiaries, intended to elevate leaders with ex

Oct 30, 2025By Ko Dong-hwan
SK Telecom changes president following hacking fiasco

InterviewGreener shipping impossible without clean fuel, vetted technology

The global maritime transportation paradigm is shifting toward more eco-friendly methods that harness cleaner fuels and generate fewer carbon emissions. However, slow progress in fuel supply chains and the development of technologies for future ships is delaying this big-picture transition, according to an expert from a Norwegian industrial risk management provider. Eirik Ovrum, principal consultant at DNV, said that although the testing of technologies to implement these fuels and deploy ships is not advancing at the necessary pace, the tests themselves are showing positive signs and the industry is on the right track. One major upcoming category of future ships in the pipeline is those using biofuels. Low greenhouse gas (GHG) fuels such as biodiesel and bio-liquefied natural gas (LNG) generate fewer carbon emissions than fossil fuels. These fuels are currently in high demand worldwide, but their global supply remains limited, according to Ovrum, author of “Maritime Forecast to 2050,” a report published by DNV. “Biofuels can range from only about a 50 percent reduction in well-to

Oct 30, 2025By Ko Dong-hwan
Greener shipping impossible without clean fuel, vetted technology

Samsung E&A's US unit wins $475 mil. ammonia plant deal

Samsung E&A, a plant engineering unit of Samsung Group, said Thursday its U.S. subsidiary has secured a 680 billion-won ($475 million) order to build an ammonia plant in the United States, marking its first such deal since its establishment. Samsung E&A America signed an engineering, procurement and fabrication (EPF) contract with Wabash Valley Resources LLC to construct a low-carbon ammonia plant in the state of Indiana by April 2028, the company said in a press release. Once completed, the plant will have an annual production capacity of 500,000 tons of ammonia and will be capable of capturing 1.67 million tons of carbon dioxide, it said. The ammonia produced at the facility will be used as fertilizer on farms across the midwest region of the United States, the company said.

Oct 30, 2025By Yonhap
Samsung E&A's US unit wins $475 mil. ammonia plant deal

SK Telecom shifts to red in Q3 due to data breach compensations

SK Telecom, Korea' leading mobile carrier, said Thursday its third-quarter earnings swung to a net deficit from a year earlier due mainly to massive compensation costs following a data breach that affected its entire 25 million-user base. It posted a net loss of 166.7 billion won ($117.1 million) for the July-September period, compared with a profit of 280.2 billion won a year earlier, the company said in a regulatory filing. The loss was 33.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Operating profit plunged 90.9 percent on-year to 48.4 billion won from 533.3 billion won. Its sales fell 12.2 percent to 3.97 trillion won. SK Telecom attributed the net loss to a 500 billion-won customer compensation program that included mobile rate cuts, additional data offers and discount coupons starting in August. In April, the company reported a large-scale cyberattack on its main servers, during which universal subscriber identity module (USIM) data was potentially compromised. In response, it offered to replace th

Oct 30, 2025By Yonhap
SK Telecom shifts to red in Q3 due to data breach compensations

Korea-US tariff agreement clears up uncertainties for carmakers

GYEONGJU, North Gyeongsang Province — Korea and the United States have finally reached an agreement on the details of a tariff agreement, clearing a major uncertainty for Korea’s automotive industry by reducing a U.S. tariff on vehicles from 25 percent to 15 percent. After weeks of stalemate, the two countries completed the negotiations Wednesday, during a bilateral meeting between Korean President Lee Jae Myung and U.S. President Donald Trump. The latest agreement included a lowered tariff rate on cars and car parts, $150 billion investment in a shipbuilding cooperation project and most-favored-nation (MFN) treatment for pharmaceuticals and wood products. It also guarantees zero tariffs on aircraft components, generic pharmaceuticals and natural resources produced outside the U.S., as well as a semiconductor tariff rate no greater than the one facing Taiwan, Korea’s main competitor. “'Reciprocal tariffs’ between the two countries will remain at the reduced rate of 15 percent, as agreed on July 30, and the same rate will apply to cars and car parts,” Kim Yong-beom, presidenti

Oct 29, 2025By Lee Gyu-lee
Korea-US tariff agreement clears up uncertainties for carmakers

Top beauty, beer companies draw CEOs at APEC

Companies with top market shares in Korea's beauty and beer industries have joined in the festivities surrounding the Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju this week, promoting their top-selling brands to guests from around the world. Amorepacific and Oriental Brewery Company (OBC) have both set up booths in the city in North Gyeongsang Province to woo CEOs, government officials and global business representatives on the sidelines of APEC events, including the CEO Summit and Economic Leaders' Meeting. Neither company is among the 66 official sponsors, which have either provided their products for participating guests or promoted the region's largest business forum on their own channels. Amorepacific on Tuesday launched its K-Beauty Pavilion at HwangNyongWon, a corporate training center that has become a prominent local landmark, built to resemble a famed Silla-era pagoda that was once one of the tallest buildings in Asia. The venue is a block away from Gyeongju Hwabaek International Convention Center, where the economic leaders’ meeting will be held on Friday

Oct 29, 2025By Ko Dong-hwan
Top beauty, beer companies draw CEOs at APEC

KT to offer data, discounts for customers hit by hacking incidents

KT, Korea's No. 2 mobile carrier, on Wednesday unveiled compensation packages for victims of recent unauthorized mobile payment breaches, including free data and discount vouchers. The company said the victims will receive 100 gigabytes of data per month for five months, along with a discount voucher worth 150,000 won ($104) that can be used to pay bills or purchase a new smartphone. The announcement came after KT said last week it would waive fees for customers affected by the breach as well. KT recently detected 20 illegal micro base station identifications (IDs) suspected of being used for unauthorized mobile payment breaches through its network, with 368 users suffering financial losses totaling 240 million won ($167,000).

Oct 29, 2025By Yonhap
KT to offer data, discounts for customers hit by hacking incidents

SK hynix keeps top spot in DRAM sector in Q3

SK hynix stood as the leading player in the global dynamic random access memory (DRAM) market in the third quarter amid the boom in the artificial intelligence (AI) industry, data showed Wednesday. According to industry tracker Counterpoint Research, SK hynix accounted for 35 percent of the global DRAM market in terms of sales with $13.7 billion, followed by Samsung Electronics with 34 percent. SK hynix outperformed Samsung Electronics in the DRAM sector for the first time in the first quarter of 2025, on the back of robust shipments of high bandwidth memory (HBM), considered a key component for AI infrastructure. The gap between SK hynix and Samsung Electronics, however, narrowed to just 1 percentage point in the third quarter, compared with 6 percentage points in the previous quarter. "SK hynix maintains solid leadership in the HBM sector with a market share of 58 percent and is expected to post sound performance in the fourth quarter as well amid growing demand for AI memory chips," the researcher said.

Oct 29, 2025By Yonhap
SK hynix keeps top spot in DRAM sector in Q3

Nvidia to supply AI chips to Samsung, SK, Hyundai: sources

U.S. tech giant Nvidia is widely expected to supply artificial intelligence (AI) chips to Korean companies, including Samsung Electronics and SK Group, sources said Wednesday. This week Nvidia Chief Executive Officer (CEO) Jensen Huang is set to attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju, a business-centric gathering running parallel to the annual APEC leaders' summit. According to the sources, Nvidia is expected to sign supply agreements with Samsung Electronics, SK Group, Hyundai Motor Group and Naver, which are expected to be unveiled Friday. Huang is expected to meet with Hyundai Motor Group Executive Chair Euisun Chung and Samsung Electronics Chairman Lee Jae-yong in Seoul on Thursday, with some suggesting SK Group Chairman Chey Tae-won may also join the gathering. During a developers' event held in Washington the previous day, Huang hinted there will be a "delightful" announcement for Koreans and U.S. President Donald Trump. "The contracts will benefit the Korean government, which aims to make the country one of the leaders in the AI sector, as well a

Oct 29, 2025By Yonhap
Nvidia to supply AI chips to Samsung, SK, Hyundai: sources
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