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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.

Kolmar Korea boosts beauty product packaging service with AI

Kolmar Korea, a major original design manufacturer of beauty products, has launched an AI-powered platform designed to shorten sourcing timelines for client companies, enabling faster product launches. The global company, which serves more than 4,300 clients worldwide, said Tuesday that the new platform’s time efficiency will help the companies target global beauty markets more conveniently. The online tool strengthens Kolmar Korea’s reputation in the global beauty industry as Korean products gain traction among global consumers with cost-effectiveness and quality. Kolmarpkg.com is where beauty brand firms launching new products can search for packaging solutions by uploading images of an end product they want to release. The platform then analyzes the images and recommends a packaging container. The platform has 4,000 options for bottle, tube, jar, pump, closure, makeup, stick and accessory products, all made by companies Kolmar Korea has certified. Besides the container type, the platform has a filtering feature allowing clients to search based on a product’s content type, volum

Sep 30, 2025By Ko Dong-hwan
Kolmar Korea boosts beauty product packaging service with AI

Korean Air proposes 10-year validity for Asiana mileage after merger

Korean Air is planning to allow customers to use Asiana Airlines mileage for the next 10 years after the carriers’ scheduled merger, under an antitrust proposal aimed at easing concerns over fairness among customers. It also suggested converting Asiana Airlines mileage into Korean Air points at a 1-to-1 ratio for flight miles, and at 0.82 points per Asiana mile for partner programs such as credit card rewards. However, the plan did not address consumer complaints calling for an expansion of Korean Air’s mileage redemption options. The country’s Fair Trade Commission (FTC) said Tuesday it will collect public opinions on Korean Air’s proposed plan to integrate the two carriers’ mileage programs over the next two weeks. When it approved the merger between Korean Air and Asiana Airlines in 2022, the FTC ordered Korean Air to submit its integration plan by June 12 this year, but immediately rejected a draft citing concerns that the plan may harm the interest of Asiana’s customers. At the time, the FTC said the integration plan should prevent any disadvantages and ensure a fair bal

Sep 30, 2025By Nam Hyun-woo
Korean Air proposes 10-year validity for Asiana mileage after merger

Korean Air diversifies portfolio into aerospace sector

Korean Air will diversify its business portfolio into the aerospace sector, as part of its efforts to secure next-generation growth engines beyond the firm’s conventional passenger and cargo business, the flag carrier said Monday. The airline’s expansion into the sector is aimed at elevating its global competitiveness even after the firm's ongoing “chemical” or operational takeover of Asiana Airlines. Korean Air is set to finalize the process for the acquisition of Asiana by the end of 2026 and launch a combined mega-carrier. In particular, Korean Air is expanding its footing in the development of satellites and space rockets, as evidenced by increasing sales in its aerospace business. According to data from Korean Air, it chalked up sales of 491 billion won ($350 million) in the area in 2022. The figure has since jumped into a steady growth track until 2024, when the figure reached 593 billion won. The company is also solidifying its position as Korea’s only fully-integrated aerospace firm, handling development of aircraft systems, satellites, launch vehicles and even unmanne

Sep 30, 2025By Lee Min-hyung
Korean Air diversifies portfolio into aerospace sector

Financial regulator urges petrochem sector to draw up restructuring plans

The financial regulator said Tuesday the ailing petrochemical sector should draw up restructuring measures, including an output cut, in exchange for financial support. Kwon Dae-young, vice chairman of the Financial Services Commission (FSC), said petrochemical companies have not shown sincere, concrete restructuring plans so far, adding there would be no financial support if they do not offer detailed action plans. Earlier in the day, 17 banks and state-run policy lenders agreed to provide financial support, including a cut in lending rates, extension of loan maturities and fresh loans, in exchange for the sector's voluntary restructuring measures. The local petrochemical sector has been facing a prolonged oversupply leading to low prices, especially amid the economic slowdown. The government wants local businesses in the sector to sharply cut their output and streamline their business portfolio.

Sep 30, 2025By Yonhap
Financial regulator urges petrochem sector to draw up restructuring plans

LG Electronics to sell 15% stake in Indian unit as part of IPO process

LG Electronics, Korea's leading home appliance maker, said Tuesday it expects to complete the initial public offering (IPO) of its Indian subsidiary as early as next month to secure funding for future growth. The IPO of LG Electronics India Ltd. is estimated to be worth around 1.8 trillion won ($1.28 billion), according to industry sources. LG Electronics said its board has approved the sale of a 15 percent stake in the subsidiary as part of the IPO process. The sale date and pricing details have not yet been determined, the company said in a press release. The company plans to submit its final securities report to the Securities and Exchange Board of India (SEBI), with the offering expected to close once SEBI gives final approval. LG Electronics began the IPO process in December by submitting a preliminary listing application and received conditional approval from SEBI in March. The expected proceeds far exceed LG Electronics' standalone cash and cash equivalents of 1.1 trillion won as of end-June. Analysts, including Moody's Investors Service, have said the Indian unit's listing would fu

Sep 30, 2025By Yonhap
LG Electronics to sell 15% stake in Indian unit as part of IPO process

Samsung Group union coalition demands reform of bonus system

A coalition of unions from 13 Samsung Group affiliates demanded reforms in the group's performance-based bonus system Tuesday, following a recent change in the system of local rival SK hynix that is expected to sharply boost its bonus payments. The alliance called for greater transparency in the calculation of bonuses in a press conference held in front of Samsung Electronic's Seoul headquarters, pointing to that of SK hynix as a model example. Oh Sang-hoon, the head of the union coalition, said Samsung has been "unilaterally setting the standards for incentive payouts without consulting the union, only notifying workers of the results." The coalition pointed to SK hynix's system as a model for "transparent performance-based pay," calling it an example of a labor-management relationship that promotes fairness and cooperation. Earlier this year, SK hynix's management and union agreed to remove the ceiling on profit-sharing payouts and set bonus payments at 10 percent of operating profits. Samsung Group currently uses the excess profit incentive (OPI) system, which calculates bonuses by ded

Sep 30, 2025By Yonhap
Samsung Group union coalition demands reform of bonus system

Lotte Group strengthens social intiatives for all generations

Lotte Group is expanding its corporate social responsibility programs to support people of all generations, while also encouraging its subsidiaries to pursue environmental, social, and governance (ESG) initiatives. A Lotte Group official said in a press release Monday that the group has delivered its "Saengmyeong Twium" — or "Life Sprout" — birth kits to households with expecting mothers in Gyeongsang Province to help address Korea’s low fertility rate. The kit includes health supplements, snacks for expecting mothers and child care supplies. The group has also built playgrounds for children in local communities across the country. The project aims to provide safe and creative outdoor play areas, and the playground facilities were all built with eco-friendly materials. Thanks to the project, the group earned the Prime Minister’s Prize at the 13th National Sharing Awards in November 2023. In addition, Lotte Group started the Youth Bookstore program in 2016 to create reading and cultural spaces for soldiers during their service. The program’s 12th location opened in March at the

Sep 29, 2025
Lotte Group strengthens social intiatives for all generations

Hyundai Mobis, chipmakers forge ties to localize semiconductors for vehicles

Hyundai Mobis has teamed up with local chipmakers and research institutions to establish the nation’s first private-sector-driven automotive semiconductor value chain, the auto parts maker said Monday. The company shared its vision during the inaugural Auto Semicon Korea event in Seoul. A group of 23 companies and research bodies joined the event to discuss future business opportunities in the lucrative chip market for automobiles. The collaboration is the first of its kind in Korea. Hyundai Mobis and key participants — such as Samsung Electronics and SK keyfoundry — shared a common view that local industry players should take immediate steps to localize development for chips used in vehicles, as the industry has so far been driven by overseas firms, particularly in North America and Europe. The participants pledged to form what they call a self-sustaining value chain and create new business models to improve the status quo and gradually increase their global competitiveness. Hyundai Mobis, as a global Tier 1 automotive supplier, will play a crucial role in achieving the drive, as

Sep 29, 2025By Lee Min-hyung
Hyundai Mobis, chipmakers forge ties to localize semiconductors for vehicles

POSCO collaborates with startups to lead innovation in technology

POSCO is working with startups to lead innovation in technology, navigating an unprecedented crisis in the steel industry caused by slow global demand, U.S. tariffs and a glut of low-priced Chinese products. In August, the steelmaker established a 50 billion won ($36 million) fund to invest in startups developing technologies in digital transformation, energy efficiency, carbon reduction and renewable energy — areas aligned with the company's future growth strategies. POSCO has allocated 20 percent of the fund to invest in promising overseas startups. The company also plans to continue seeking investment opportunities, conducting thorough reviews of both domestic and overseas startups' technologies, financial health and strategic relevance. POSCO is also considering joint research with startups and integrating their products and technologies into its own operations to maximize synergy and secure new growth drivers. “We will keep partnering with small- and medium-sized enterprises and startups that have high-potential technologies,” a POSCO official said. “By driving innovation in

Sep 29, 2025By Park Jae-hyuk
POSCO collaborates with startups to lead innovation in technology

'K-visa' proposed to help Korean firms navigate Trump's immigration policies

Business leaders and legal experts from Korea and the United States urged Washington on Monday to create a so-called "K-visa" to prevent Korean companies from facing setbacks in their U.S. investments amid tightening immigration regulations under the Donald Trump administration. Criticizing the lack of a dedicated U.S. visa category for Korean professionals, they said the K-visa would be the key to a stronger Korea-U.S. economic partnership. "The Georgia case underscores how essential it is for companies to fully understand and comply with U.S. visa rules. Beyond compliance, we must also prepare for new opportunities such as the proposed K-visa, which could strengthen workforce mobility and the U.S.-Korea partnership," American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim said during the chamber's U.S. Visa Seminar in Seoul. The annual seminar was held to introduce U.S. visa categories, procedures and application requirements to Korean companies seeking U.S. market entry. It also covered common pitfalls and how to avoid them, as well as workforce strategies for smoother mark

Sep 29, 2025By Park Jae-hyuk
'K-visa' proposed to help Korean firms navigate Trump's immigration policies
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