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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.

Conglomerates go all out for Korea’s successful hosting of APEC summit

Major conglomerates and business lobbies are accelerating efforts to support Korea’s hosting of the upcoming Asia-Pacific Economic Cooperation (APEC) summit, seeing it as an opportunity to enhance exchanges with participating economies and raise their global profile through promotional campaigns. Korea Chamber of Commerce and Industry Chairman Chey Tae-won went on a three-day business trip to Beijing from Friday to Sunday and asked for China’s support in elevating bilateral economic cooperation. Chey also serves as chairman of SK Group, Korea's second-largest conglomerate by market capitalization. The trip was a strategic move aimed at deepening partnerships with China’s business circles ahead of the regional economic forum in Gyeongju, North Gyeongsang Province. Chey met with ranking Chinese officials, including China Council for the Promotion of International Trade (CCPIT) Chairman Ren Hongbin and Vice Premier He Lifeng. The Chinese council will form a major delegation — consisting of some 100 businesspeople — for the upcoming APEC CEO Summit running from Oct. 28 to 31. China

Oct 12, 2025By Lee Min-hyung
Conglomerates go all out for Korea’s successful hosting of APEC summit

Korean firms fall victim to US-China trade war

Korean companies have borne the brunt of the renewed trade conflict between the United States and China. As the world's top two economies have recently engaged in tit-for-tat economic retaliations — moves widely seen as attempts to bolster bargaining power ahead of a possible summit in Korea later this month — concerns are mounting that Korean chipmakers, electric vehicle (EV) manufacturers and shipping firms could suffer from the escalating tensions. On Thursday, the Chinese Ministry of Commerce announced tighter export controls on rare earth metals including samarium, dysprosium and terbium, which are essential for manufacturing semiconductor equipment, EV motors and batteries. Although Korean manufacturers have highlighted their stockpiles of rare earth elements in order to dismiss concerns, they could still face long-term production setbacks if Chinese authorities delay export approvals. "The government will continue negotiations with China to prevent the latest measures from harming domestic companies," said an official from the Ministry of Trade and Industry. A day after the Chi

Oct 12, 2025By Park Jae-hyuk
Korean firms fall victim to US-China trade war

US jury orders Samsung to pay $445.5 mil. in patent infringement suit: reports

A U.S. federal jury has ordered Samsung Electronics to pay $445.5 million in damages after finding that the South Korean company infringed multiple wireless network technology patents held by an American firm, according to foreign media reports Saturday. According to the reports from Reuters and other outlets, the federal jury in Marshall, Texas, ruled Friday (U.S. time) that Samsung violated four patents owned by Collision Communications, a New Hampshire-based company specializing in wireless network efficiency technologies. The jury determined that Samsung's products, including its Galaxy smartphones and notebook computers with wireless functions, infringed the patents in question. Collision Communications filed the lawsuit against Samsung in 2023, claiming infringement of its proprietary technology.

Oct 11, 2025By Yonhap
US jury orders Samsung to pay $445.5 mil. in patent infringement suit: reports

Top court to hand down ruling on divorce case of SK chairman on Oct. 16

The Supreme Court will hand down its ruling on property division in the divorce between SK Chairman Chey Tae-won and his estranged wife Roh Soh-yeong on Oct. 16. Viewed as one of the most high-profile divorce cases in recent Korean history, the ruling will affect Chey’s ownership of SK Group and could fundamentally change the shareholding structure of Korea’s second-largest conglomerate. According to legal officials, Friday, the Supreme Court will hand down the verdict at 10 a.m. on that day. The ruling will come 15 months after the top court began reviewing the case and seven years after the two began their legal battle over the division of property. The key issue in the trial is whether Chey’s SK Group shares will be included in the property division. If they are deemed “special property” inherited or gifted from his late father, former SK Chairman Chey Jong-hyun, they will be excluded. SK Group argues that the shares were purchased with funds gifted by the late chairman and thus constitute special property, while Roh’s side argues they should be regarded as joint marital

Oct 10, 2025By Nam Hyun-woo
Top court to hand down ruling on divorce case of SK chairman on Oct. 16

Incheon airport’s rent policy places heavy burden on duty-free firms

Duty-free operators are increasingly losing interest in running businesses at Incheon International Airport, as rising rental rates — that do not reflect sales performance — have become a growing burden for tenants. As shopping trends draw international travelers to hotspots beyond the airport, duty-free zones are losing their appeal among both shoppers and companies. The duty-free rental structure gained industry attention after Hotel Shilla, which operates Shilla Duty Free, decided to exit the airport’s DF1 duty-free sector last month. DF1 consists of perfume, cigarette and liquor products. The main reason cited for the exit was the high rent that worsened the company’s operational deficit. Hotel Shilla won duty-free business rights for the DF1 zone in 2023 despite the area’s rent being about three times higher than that of other zones, taking on a significant financial burden to secure the license. In the past, duty-free companies paid fixed rents, but in 2023, the airport’s operator shifted to a variable rent system in which fees are calculated based on passenger volume. Si

Oct 10, 2025By Ko Dong-hwan
Incheon airport’s rent policy places heavy burden on duty-free firms

K-pop industry expected to post record earnings in 2026 as BTS, BigBang return

The Korean entertainment industry is expected to post record-high earnings in 2026 as both BTS and BigBang return to full-group activities, analysts said Friday. Hana Securities analyst Lee Ki-hoon said in a report that with BTS planning to resume full-group activities next year, revenue is likely to match the combined sales of YG Entertainment and JYP Entertainment. Lee also highlighted strong expectations for a potential full-group comeback by BigBang to mark the 20th anniversary of their debut. “Should BTS and BigBang resume activities at the same time, it would naturally drive record-breaking results for the overall K-pop industry,” Lee said. “Maintaining a strategy of gradually increasing exposure remains advisable until clear performance results are observed.” Specifically, the analyst suggested that investment in HYBE, the K-pop powerhouse behind BTS, should continue to be scaled up until its market capitalization reaches 15 trillion won ($10.5 billion). Currently, HYBE’s market cap stands at around 11 trillion won. Hyundai Motor Securities analyst Kim Hyun-yong noted tha

Oct 10, 2025By Jun Ji-hye
K-pop industry expected to post record earnings in 2026 as BTS, BigBang return

APEC draws noodle, chicken sponsorships from K-food firms

The upcoming Asia-Pacific Economic Cooperation (APEC) event in Gyeongju, North Gyeongsang Province, is expected to be a showcase for major Korean food products that have drawn the attention of global consumers. The government last month started gathering local firms interested in sponsoring the event, which will draw leaders from 21 economies across the Asia-Pacific. Following three rounds of applications, the government selected companies specializing in various foods that promote Korea’s culinary culture. The companies seek to introduce their food products to some 20,000 participants, including 6,000 government representatives, expected at the event, which will last from late October to early November. Nongshim, which has seen a major windfall from Netflix’s worldwide hit “KPop Demon Hunters,” is one of the sponsors. Foods depicted in the animation went viral after fans recognized them as dupes of the company's most popular items, fueling global attention. The company, which specializes in instant noodles and snacks, then formed a partnership with Netflix to release products w

Oct 10, 2025By Ko Dong-hwan
APEC draws noodle, chicken sponsorships from K-food firms

Hyundai's hydrogen truck recognized in TIME's best inventions list for 2025

The Hyundai XCIENT Fuel Cell Class 8 heavy-duty truck was named one of the Best Inventions of 2025 by TIME magazine in recognition of its sustainable mobility and autonomous driving capabilities, the carmaker said Friday. For the past 25 years, the magazine has published its annual best inventions list to highlight the most impactful innovations that shape the way we live. This year’s selection includes 300 solutions from sectors such as consumer electronics, robotics, artificial intelligence (AI) and more. The award-winning truck was developed by Hyundai Motor and PlusAI, a U.S. autonomous driving software firm. The truck integrates Hyundai’s hydrogen fuel cell truck platform with PlusAI’s Level 4 autonomous SuperDrive virtual driver. Level 4 self-driving allows a vehicle to drive itself within specific areas and conditions, with no need for driver intervention. This combination offers the benefits of hydrogen-powered long-haul freight, including zero tailpipe emissions and fast refueling, while enhancing logistics efficiency through autonomous driving. “This recognition by TIME

Oct 10, 2025By Nam Hyun-woo
Hyundai's hydrogen truck recognized in TIME's best inventions list for 2025

Celltrion’s eye disease treatment wins FDA approval

Celltrion said Friday that its eye disease treatment Eydenzelt won approval from the U.S. Food and Drug Administration (FDA), opening access to a $6 billion market. According to the biotech firm, the FDA approved two formulations of Eydenzelt: a vial and a prefilled syringe. Eydenzelt is a biosimilar referencing Eylea, which is developed by Regeneron Pharmaceuticals. Eylea is a blockbuster treatment for common causes of blindness in the elderly that posted global sales of $9.52 billion last year. In the U.S., the world’s largest pharmaceutical market, the drug generated $5.97 billion in sales. In its phase 3 clinical trial involving 348 patients, Celltrion confirmed the equivalence of Eydenzelt to the original drug. Based on the results, the company obtained U.S. approval for all adult indications held by the reference drug, including neovascular age-related macular degeneration and macular edema following retinal vein occlusion. Celltrion has won regulatory approvals for Eydenzelt in major markets, including Korea, Europe, Australia and the U.S. The company recently published the 52-w

Oct 10, 2025By Nam Hyun-woo
Celltrion’s eye disease treatment wins FDA approval

Korean food, beauty firms struggle over 'brand hijacking' in overseas markets

Korean companies in the food, beauty and fashion industries are struggling with brokers preempting trademarks of popular brands in overseas markets, preventing the companies from officially registering or selling their products there. According to government data submitted Thursday to Rep. Oh Sae-hee of the ruling Democratic Party of Korea, the number of so-called “brand hijacking” cases targeting Korean firms over the past five years stood at 30,841. The data is from the Ministry of Intellectual Property and the Korea Intellectual Property Protection Agency. A total of 4,977 cases were reported in 2021, and the number increased to 5,015 in 2023 then nearly doubled in 2024 to 9,520. The figure stood at 6,675 as of August this year, implying that the total is on track to surpass last year’s level by the end of 2025. The cases involve overseas trademark squatters that register the names of Korean brands as their own trademark in advance so that the Korean firms operating the brands cannot register them in the foreign market later. They can then claim the brands’ trademarks and eve

Oct 10, 2025By Ko Dong-hwan
Korean food, beauty firms struggle over 'brand hijacking' in overseas markets
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