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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.

Gmarket banks on Alibaba's AI, e-commerce network for reboot

Major e-commerce platform Gmarket is revamping its operations to reclaim the top spot in Korea’s online retail market, backed by a new joint venture between Shinsegae Group and Alibaba International. After the joint venture between its parent company and the global e-commerce giant received approval from the Fair Trade Commission last month, Gmarket has been ramping up investments to strengthen its seller base, develop artificial intelligence (AI) technologies and host promotional events aimed at attracting more consumers. Based on monthly active users, Gmarket ranked fifth in Korea this month, trailing Coupang, 11Street, AliExpress and Temu in that order. On Tuesday, Gmarket CEO James Chang held a press conference in Seoul to outline the company’s investment plan totaling 700 billion won ($492 million) for next year alone. Of that amount, 500 billion won will be allocated to supporting existing sellers, while 20 billion won will be earmarked for new sellers and small- and medium-sized enterprises — marking a 50 percent increase from the previous year. Gmarket will also allocate 10

Oct 21, 2025By Ko Dong-hwan
Gmarket banks on Alibaba's AI, e-commerce network for reboot

US eases cash demand in $350 bil. investment talks: minister

YEONGJONGDO — South Korean Industry Minister Kim Jung-kwan said Monday the United States has shown signs of softening its stance on demanding that Seoul make its entire $350 billion investment commitment in cash, suggesting substantive progress in ongoing trade negotiations. "It is not to that extent," he told reporters upon arrival from the U.S., when asked whether Washington is still insisting that Korea make the full $350 billion investment in cash payments. "If things had gone that far, the negotiations would have already fallen through. But the U.S. side has, to a considerable extent, accepted our views," he added. Kim visited the U.S. last week for follow-up talks on the bilateral framework tariff agreement reached in late July. He met with U.S. Commerce Secretary Howard Lutnick and other trade officials to narrow differences over details of Korea's investment pledge, including financing methods and profit allocation. "The issue related to our foreign exchange market was the biggest hurdle (in the talks), but the two sides have reached a broad consensus," he said. U.S. President Do

Oct 20, 2025By Yonhap
US eases cash demand in $350 bil. investment talks: minister

Montana governor visits Seoul in search of business ties

Montana Gov. Greg Gianforte met with Korean industry leaders and government officials Monday to seek synergy between the nation's industrial capabilities and the U.S. state’s business-friendly policies. The Federation of Korean Industries (FKI) hosted a welcome reception for Gianforte and more than 40 representatives from Montana’s state government, major local companies and academic institutions. It marked the largest business delegation to Korea from the state. On the Korean side, more than 40 officials attended from Hyundai Motor, Hyosung Heavy Industries, CJ, Poongsan, Pan Ocean and quantum technology companies including IBM Korea and Qunova. The event was organized to promote exchange and networking aimed at expanding economic cooperation between Korea and Montana. Korea was the second-largest trading partner of the U.S. state in 2024, purchasing over $335 million in industrial machinery, coal, beef and wheat. Montana is known for its mineral and agricultural industries, but in recent years it has been transforming its economic structure toward future-oriented industries. In 202

Oct 20, 2025By Nam Hyun-woo
Montana governor visits Seoul in search of business ties

Britain's BP tapped as preferred bidder for Korea's deep-sea gas project: sources

The Korea National Oil Corp. (KNOC) has tapped British oil major BP as the preferred bidder for Korea's project to develop oil and gas prospects in the East Sea, industry sources said Monday. KNOC reached the internal decision last week and is in talks with the Ministry of Trade, Industry and Resources before officially announcing the bidding result, according to the sources familiar with the matter. The Korean company opened the bid in March to find a foreign partner who will have up to 49 percent of the stake in the project aimed at developing seven potential oil and gas reserves in the deep sea off the coast of Yeongil Bay in Pohang, North Gyeongsang Province. KNOC conducted its first exploratory drilling into the "blue whale prospect," one of the seven prospects, for nearly two months since December and concluded the prospect does not have economic feasibility. KNOC earlier said it will newly establish a business plan for the deep-sea gas development project after it selects a preferred bidder, including whether to conduct an additional exploratory drilling of the potential reserves.

Oct 20, 2025By Yonhap
Britain's BP tapped as preferred bidder for Korea's deep-sea gas project: sources

Kolmar Korea selected for government AI factory initiative

Original development manufacturer (ODM) Kolmar Korea has been selected by the government to develop an artificial intelligence (AI) manufacturing system for beauty products to maximize productivity and further diversify offerings for global cosmetic brands. The global ODM firm said Monday it will implement the new AI system at its existing manufacturing bases in Sejong, as well as in the United States, Canada and China. Kolmar Group’s other subsidiaries in health supplements, pharmaceuticals and cosmetic packaging will also implement the system. The AI system represents an advancement of the company’s current smart factory production, which centers on automation. According to the company, the AI factory will be able to initiate or halt production on its own based on real-time data, optimizing efficiency and reducing manufacturing costs. Kolmar Korea said the project follows its selection by the Ministry of Trade, Industry and Resources for the government’s AI Factory Alliance initiative. The initiative aims to transition the country’s manufacturing bases across key industries to

Oct 20, 2025By Ko Dong-hwan
Kolmar Korea selected for government AI factory initiative

KAI, Airbus expand aerospace, defense cooperation with MOU

Korea Aerospace Industries (KAI) signed a memorandum of understanding (MOU), Monday, with global aerospace leader Airbus to expand cooperation in the defense and aerospace sectors. The signing ceremony took place on the sidelines of the Seoul International Aerospace & Defense Exhibition 2025 (AEDX 2025) at KINTEX in Goyang, Gyeonggi Province. KAI acting CEO Cha Jae-byoung, Anand Stanley, president of Airbus for the Asia-Pacific region, and Airbus Chief Representative Korea Lee Hee-hwan attended the event. The two companies said they plan to explore collaboration across various aerospace fields, including special mission aircraft, high-speed medium-lift helicopters, KF-21 and FA-50 aerial refueling flight tests and military satellite communication capabilities. The MOU also opens the door for cooperation in emerging technologies and the pursuit of new joint projects, with the goal of developing a long-term, comprehensive business partnership. KAI said it has worked with Airbus for 20 years in defense and aerospace, building trust through joint development, technology cooperation and indus

Oct 20, 2025By Kang Seung-woo
KAI, Airbus expand aerospace, defense cooperation with MOU

Nexon RPG Khazan continues to expand global reach

Nexon’s action role-playing game (RPG) The First Berserker: Khazan recently marked its 200th day since its March release, drawing fresh attention for its success in expanding the universe of subsidiary Neople’s hit title Dungeon & Fighter globally. Despite being Neople’s first full-fledged console title, The First Berserker: Khazan has proven its quality through distinctive, tightly tuned action, cohesive storytelling and unique visuals. After its release, the game climbed to second place on digital distribution platform Steam’s chart for popular global games. It also earned its highest score of 85 on the entertainment review platform Metacritic, gaining recognition from both critics and players. “Our goal with The First Berserker: Khazan was to present the Dungeon & Fighter world to players around the globe, especially in Western markets, by reimagining the original’s dynamic action for consoles,” Neople Creative Director Lee Jun-ho said. “Above all, we wanted the sense of challenge and achievement to come through clearly for players in every combat experience.” The Fir

Oct 20, 2025By Lee Gyu-lee
Nexon RPG Khazan continues to expand global reach

Nongshim launches global Shin Ramyun campaign at Times Square

Nongshim staged a large-scale global campaign at New York’s Times Square on Friday to mark the launch of its collaborative Shin Ramyun edition featuring Netflix’s hit animated film “KPop Demon Hunters,” the company said Monday. One of the most famous tourist spots on earth and visited by some 450,000 people each day, Times Square hosted a series of on- and offline interactive events to give consumers from around the world a firsthand taste of the brand's iconic noodles and snacks. During the event, the company unveiled a giant digital advertisement at Times Square showcasing the special collaboration with “KPop Demon Hunters.” In addition to the display, Nongshim operated themed booths that offered immersive brand experiences. In the “Food Zone,” visitors sampled dishes such as shrimp crackers and Shin Ramyun Toomba flavor noodles prepared using instant ramyeon cookers, offering a taste of the method popularized by convenience stores along Seoul's Han River. The “Reward Zone” featured an instant photo booth with “KPop Demon Hunters” characters, while the “Event

Oct 20, 2025By Ko Dong-hwan
Nongshim launches global Shin Ramyun campaign at Times Square

Hyundai Motor ranked 33rd in Time’s World’s Best Companies

Hyundai Motor ranked 33rd in Time magazine’s World’s Best Companies 2025 list, earning the title of Korea’s highest-ranking firm in terms of employee satisfaction, revenue growth, and environmental, social and governance (ESG) performance, the carmaker said Monday. The Korean automaker climbed 159 spots from the previous year, supported by robust growth across key evaluation criteria. Hyundai Motor also secured recognition as Asia’s top-ranked carmaker, surpassing Toyota, which came in at 48th. The magazine selects a total of 1,000 top companies worldwide each year in collaboration with German data tracker Statista. The two organizations survey more than 200,000 employees from global firms to assess workplace satisfaction. Statista also provides corporate sales, revenue data and ESG indices for Time magazine to compile its annual corporate ranking. According to Hyundai Motor’s internal employee satisfaction survey, the company recorded an all-time high score of 79.4 points in 2024. Its voluntary turnover rate also stood at 0.39 percent — the lowest level among Korean companies.

Oct 20, 2025By Lee Min-hyung
Hyundai Motor ranked 33rd in Time’s World’s Best Companies

Doosan Robotics, Daedong team up for agricultural robots

Doosan Robotics and agricultural machinery firm Daedong have teamed up for developing on-device artificial intelligence (AI) technologies and agricultural robots, the former said Monday. Doosan Robotics and Daedong signed a memorandum of understanding (MOU) containing details on their partnerships at the former’s innovation center in Seongnam, Gyeonggi Province, Friday. Daedong is one of Korea’s leading agricultural machinery firms, manufacturing autonomous tractors and other automated machineries. Under the agreement, the two companies will join forces for developing field robots optimized for smart farms and outdoor agricultural environments, creating and commercializing on-device AI applicable to unstructured farming conditions and exploring global markets for field robots. Doosan Robotics will be responsible for designing and manufacturing robotic arms and control systems to commercialize mobile manipulators specialized for agriculture. A mobile manipulator is a mobile robot that combines an autonomous mobile robot or platform with robotic arms to perform integrated tasks. Daedong

Oct 20, 2025By Nam Hyun-woo
Doosan Robotics, Daedong team up for agricultural robots
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