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.

Korean autonomous buses to showcase tech at APEC meetings

Korean autonomous buses are set to turn heads during the highly anticipated Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju, North Gyeongsang Province, later this month, showcasing the country’s advanced technology to international guests. The Ministry of Land, Infrastructure and Transport said Wednesday that it will launch shuttle buses on two circuit routes to provide transportation for attendees. One route will circle Gyeongju Hwabaek International Convention Center, the main venue for the meetings, while the other will operate around Bomun Tourism Complex. The government hopes the buses will assist — and impress — the roughly 20,000 guests expected to attend next week’s event, including presidents from the 21 APEC member economies. Each bus was made by Kia and KG Mobility, with autonomous control technology provided by Autonomous A2Z, a company based in Gyeongsan, North Gyeongsang Province. According to the government, over 90 percent of the autonomous driving technology in the buses is domestically produced. Shuttle Bus A, which loops around Bomun Tourism Comp

Oct 22, 2025By Ko Dong-hwan
Korean autonomous buses to showcase tech at APEC meetings

Korean Air, Lockheed Martin sign partnership framework for US military aircraft maintenance

Korean Air signed a partnership framework with U.S. defense giant Lockheed Martin on Wednesday to provide follow-on maintenance support for U.S. military aircraft, expanding its role as a key maintenance partner in the Indo-Pacific region. A signing ceremony for the framework took place at the Seoul International Aerospace & Defense Exhibition (ADEX) 2025 under way in Goyang, Gyeonggi Province. It was attended by Cho Hyun-chul, head of Korean Air's military aircraft division, and Steve Sheehy, vice president of Lockheed Martin for sustainment operations. The agreement aims to support the timely sustainment of U.S. military assets deployed in the Indo-Pacific region and beyond. It is in line with the U.S. Department of Defense's Regional Sustainment Framework (RSF) strategy, which seeks to improve military readiness by shifting equipment maintenance, repair and overhaul (MRO) work to allied partners in the region. Korean Air is considered a strong partner for the RSF program due to its strategic location, advanced technical capabilities and decades of experience. The company said it is the

Oct 22, 2025By Yonhap
Korean Air, Lockheed Martin sign partnership framework for US military aircraft maintenance

Hyundai Motor set to deepen ties with CATL on sidelines of APEC

Hyundai Motor Group Executive Chair Chung Euisun is set to elevate the carmaker's battery alliance in a possible meeting with Zeng Yuqun, chairman of Chinese battery giant CATL, on the sidelines of the upcoming Asia-Pacific Economic Cooperation (APEC) meetings. Both business leaders will participate in the four-day APEC CEO Summit, set to begin Tuesday in Gyeongju, North Gyeongsang Province. Details on the specific location and timeline for their symbolic meeting have not been confirmed. The head of the world’s largest electric vehicle (EV) battery maker is widely expected to discuss the possibility of expanding its battery supply to more EV lineups of Hyundai Motor and Kia. Hyundai Motor Group is also standing at a critical juncture where it has to achieve deeper inroads particularly into the lucrative European EV market. CATL is already supplying lithium iron phosphate (LFP) batteries for Hyundai Motor’s Kona Electric, along with Kia’s Niro EV and Ray EV. The Chinese battery maker in July also began supplying nickel cobalt manganese (NCM) batteries to Kia’s EV5 electric SUV. For

Oct 22, 2025By Lee Min-hyung
Hyundai Motor set to deepen ties with CATL on sidelines of APEC

Hanwha vice chairman meets Romanian PM over defense cooperation

The vice chief of Hanwha Group, Korea's chemicals-to-shipbuilding conglomerate, has met with the Romanian prime minister to discuss potential cooperation with the Eastern European country in the defense industry, according to the group Wednesday. Hanwha Vice Chairman Kim Dong-kwan, who accompanied Kang Hoon-sik, chief of staff of Korean President Lee Jae Myung, met with Prime Minister Ilie Bolojan in the Romanian capital of Bucharest on Tuesday, a group official said. "The vice chairman's visit aims to help Korea expand major defense exports to Europe and promote national interests," the official said. During the visit, Kang delivered a letter from Lee to Bolojan as part of his mission as a special envoy to strengthen bilateral defense industry partnerships and boost Korea's arms exports. Hanwha's Kim reportedly took part in discussions related to Romania's 4.9 trillion-won ($3.5 billion) project to acquire new infantry fighting vehicles (IFVs) to replace aging Soviet-era armored vehicles. Hanwha is expected to compete in the bidding process with Germany's Rheinmetall AG, Britain's BAE Sy

Oct 22, 2025By Yonhap
Hanwha vice chairman meets Romanian PM over defense cooperation

LIG Nex1, Airbus DS sign MOU to strengthen strategic partnership

Korean defense company LIG Nex1 said Wednesday it has signed a memorandum of understanding (MOU) with Airbus Defence and Space (DS) to expand their strategic partnership and cooperation in advanced defense and aerospace technologies. Under the MOU signed Monday on the sidelines of the Seoul International Aerospace & Defense Exhibition (ADEX) 2025 in Goyang, Gyeonggi Province, the two sides plan to broaden their collaboration beyond existing joint projects to include integrated air defense systems and digital defense solutions. They will also work together to explore wider industrial cooperation opportunities, including support for Korea's national space programs. LIG Nex1 and Airbus DS have already built a cooperative relationship. Last month, they signed an agreement to strengthen future cooperation in the field of integrated air defense systems. "This updated MOU marks an important milestone that elevates our partnership with LIG Nex1 to a new level," said Lee Hee-hwan, president of Airbus DS Korea. "In a rapidly evolving defense environment, our collaboration reflects a shared commitm

Oct 22, 2025By Yonhap
LIG Nex1, Airbus DS sign MOU to strengthen strategic partnership

Georgia governor to thank Hyundai, LG, SK, CJ during 3-day visit

Georgia Gov. Brian Kemp will meet high-level executives from Hyundai Motor, LG Energy Solution (LGES), SK On and CJ Foodville during his three-day visit to Korea this week, and express his gratitude for their investments in his state. In an apparent attempt to address negative public sentiment stemming from the mass detention of Korean workers in early September at a construction site in the state, Kemp is also scheduled to join a series of interviews with Korean-language newspapers, though he reportedly does not plan to meet any government officials. According to sources familiar with the matter, Kemp will arrive in Korea on Thursday morning and leave Saturday morning. This is his third visit to Korea since his inauguration in 2019. His latest trip was initially arranged to celebrate the 40th anniversary of the state's economic development office in Seoul. However, the weeklong detention of more than 300 Korean workers has sparked calls for Kemp to offer an apology during his visit. The detentions followed a major immigration raid on Sept. 4 at the construction site of a plant jointly o

Oct 22, 2025By Park Jae-hyuk
Georgia governor to thank Hyundai, LG, SK, CJ during 3-day visit

Samsung launches extended reality device Galaxy XR

Samsung Electronics on Wednesday unveiled its latest extended reality (XR) headset, the Galaxy XR, previously known by its codename Moohan, challenging Meta, Apple and other existing players in the market. The device is now available in Korea and the United States at a retail price of 2.69 million won ($1,880). The Galaxy XR is a new form factor, or hardware design, optimized for multimodal artificial intelligence (AI), a technology that enables natural communication between users and devices by processing text, images, voice and video. “The Galaxy XR will establish a new mobile ecosystem,” said Choi Won-joon, chief operating officer of Samsung Electronics’ Mobile Experience Division. “Based on Android XR, the Galaxy XR will elevate the company’s mobile AI vision to limitless possibilities, becoming an everyday device embraced by both the industry and consumers.” The device has been drawing keen attention from the global tech community, as it is the first device to use Google’s new Android XR operating system — a platform co-developed by Samsung, Google and Qualcomm to in

Oct 22, 2025By Nam Hyun-woo
Samsung launches extended reality device Galaxy XR

Coway’s Berex offers tailored sleep solutions for newlyweds, movers

Coway’s sleep care brand, Berex, has launched new products aimed at elevating sleeping experiences, as Korea enters the peak season for weddings and relocation, the company said Tuesday. The lineup includes mattresses and bed frames that blend sophisticated design with high functionality. The Berex Modi mattress, an upgraded version of the brand’s best-selling Prime model, is designed to deliver a high-quality sleep experience to customers. The mattress is particularly well-suited for newlyweds, as it features signature independent springs that reduce motion transfer between sleepers. This helps customers enjoy stable, undisturbed sleep at night. The product evenly distributes body pressure across different zones and offers both firm support and soft comfort. Coway also introduced the Berex Signature Fireshield mattress, expanding its lineup of premium fire-retardant products. Combining luxury aesthetics and comfort, the mattress is made with flame-resistant materials that meet domestic and international safety standards, enhancing protection against any fire risks. The fireshield mate

Oct 21, 2025By Lee Min-hyung
Coway’s Berex offers tailored sleep solutions for newlyweds, movers

Kia opens 2nd CKD plant in Kazakhstan to boost presence in Central Asia

Kia, Korea's second-largest automaker, on Tuesday opened its second complete knock-down (CKD) assembly plant in Kazakhstan as part of efforts to expand its production capacity and strengthen its foothold in Central Asia. An opening ceremony for the plant in Kostanay, northwestern Kazakhstan, was attended by Kia President Song Ho-sung, Kazakh First Deputy Prime Minister Roman Sklyar, senior government officials and partner company representatives, the company said. Kazakh President Kassym-Jomart Tokayev also joined the event virtually. Construction of the new CKD plant began at the end of 2023 with a total investment of $310 million. It has an annual production capacity of 70,000 units and spans 630,000 square meters. Kia already operates a separate Sportage CKD production facility in the region with a capacity of 10,000 units annually. Combined with the second plant, the company's total production capacity in Kazakhstan will reach 80,000 units per year. Kia has started producing the Sorento sport utility vehicle (SUV) at the new plant and plans to add the Sportage model next year. Cars ass

Oct 21, 2025By Yonhap
Kia opens 2nd CKD plant in Kazakhstan to boost presence in Central Asia

Tesla Korea’s weak after-sales service catches flak

Tesla Korea has come under criticism for its poor after-sales service system and infrastructure, as the carmaker reportedly does not take appropriate countermeasures against repeated errors from its battery management system (BMS), according to data and experts Tuesday. The U.S. electric vehicle (EV) maker is being urged to invest more in expanding relevant service infrastructures across the nation, as its sales are rapidly increasing due to the strong popularity of its Model Y electric SUV. According to data from the Korea Automobile Importers and Distributors Association (KAIDA), Tesla was the nation’s top-selling overseas auto brand for three consecutive months starting in July. The carmaker sold 9,069 EVs in September alone, outperforming electric models from strong competitors such as BMW Korea and Mercedes-Benz Korea by a wide margin. However, Tesla Korea is still seen as a “much less reliable” carmaker in terms of its after-sales system when compared to BMW and Mercedes-Benz, experts said. Data from the office of Rep. Park Yong-kab of the ruling Democratic Party of Korea sho

Oct 21, 2025By Lee Min-hyung
Tesla Korea’s weak after-sales service catches flak
previous page
177178179180181
next page

Most Read in Business