Business - The Korea Times

Baristas showcase skills at Dongsuh’s Kanu championship

Professional baristas competed with their coffee-brewing skills over the weekend under a banner featuring Dongsuh Foods’ signature instant coffee brand, Kanu. The annual Kanu Barista Championship, held at Shinsegae Department Store’s main branch in Seoul’s Gangnam District, featured eight experts locking horns on Saturday and Sunday. The competition evaluated the versatility of the eight finalists in using Kanu’s ground coffee beans in creative drinks with the potential to impress consumers. During the first round of competition on Saturday, the baristas created their own versions of a hot Americano and iced latte. The following day, they were given free rein to showcase their creativity with signature drinks of their choice. Judges included coffee experts such as Um Bo-ram, a Korean Brazilian who won the World Barista Competition 2023 in Athens, Greece. At Kanu, the top honor went to Kim Ga-eun for “Golden,” which mixed Kanu espresso-based Americano with green tea, allulose and mango extract. Kim said the similarity between coffee and music inspired her creation. Judges praise

Sep 29, 2025By Ko Dong-hwan

Baristas showcase skills at Dongsuh’s Kanu championship

Samsung Heavy Industries partners with India's Swan Defence

Samsung Heavy Industries said Monday it has partnered with India's Swan Defence and Heavy Industries to collaborate in shipbuilding and offshore engineering. Under a memorandum of understanding (MOU) signed earlier, the two companies will pursue cooperation in engineering, procurement and management of shipbuilding and offshore projects, Samsung Heavy said. Swan Defence and Heavy Industries operates India's largest dry dock, capable of constructing very large crude carriers (VLCCs). Samsung Heavy said the partnership will help it establish a foothold in India, with plans to gradually expand its business there. The deal is part of Samsung Heavy's recent push to strengthen its global network, following its strategic partnership with U.S.-based Vigor Marine Group in August.

Sep 29, 2025By Yonhap

Samsung Heavy Industries partners with India's Swan Defence

Almonty in full swing ahead of tungsten pipeline launch

YEONGWOL COUNTY, Gangwon Province — The Sangdong mine in Yeongwol County, Gangwon Province, now owned and operated by Almonty Korea Tungsten Corp. (AKTC), was first discovered in 1916 during the Japanese colonial period. The Japanese government developed tunnels at the mine to extract tungsten, a high-density mineral essential to defense, electronics, manufacturing and other industries. After World War II, the mine helped support Korea’s economy as a strategic mineral source. It closed in 1994, however, as cheaper Chinese tungsten began to dominate the global market, including in Korea. The mine remained dormant until 2015, when Almonty Industries acquired Canada-based Woulfe Mining and took control of the site. After conducting drilling for sampling and feasibility tests, the company found that the mine contains some of the world's highest grade tungsten ore with enough volume to remain productive for 100 years. AKTC began developing the mine the following year, opening first portal and accelerating the gallery development. It expanded tunnels in multiple directions to create a net

Sep 29, 2025By Ko Dong-hwan

Almonty in full swing ahead of tungsten pipeline launch

Samsung Electro-Mechanics hosts 2025 automotive electronics showcase in China

Samsung Electro-Mechanics hosted the 2025 Samsung Automotive-Component Tech-Day in the Chinese city of Tianjin to display its strong commitment to the rapidly evolving global automotive electronics market, the company said Sunday. The annual event took place on Thursday and Friday, bringing together more than 100 clients from some 30 global carmakers and auto parts makers. The company emphasized the critical role of high-performance multi-layer ceramic capacitors (MLCCs) in future mobility, as the auto industry is on track to integrate artificial intelligence (AI) and robotics. MLCCs are key components for vehicles, widely used to stabilize power for semiconductors. They are also considered essential parts for autonomous driving and electric vehicles (EVs). The Samsung affiliate focused on promoting its tech prowess in developing MLCCs and stressing reliability of its products. Samsung Electro-Mechanics is capable of producing a stable supply of the auto parts through tight quality control and expanded production at its smart manufacturing facilities, the company said. The firm also gave

Sep 28, 2025By Lee Min-hyung

Samsung Electro-Mechanics hosts 2025 automotive electronics showcase in China

Emart24 to open 1st convenience store in Laos

Emart24 said Sunday it will open its first outlet in Laos, marking the entry of a Korean convenience store brand into the Southeast Asian country. The company signed a master franchise agreement with Kolao Group, founded by Korean businessman Oh Se-young, to gradually convert Kolao's 50 Kok Kok Mini convenience stores into Emart24 outlets, it said in a press release. Under a master franchise deal, the franchisee is granted the rights not only to open and operate outlets in a designated region but also to subfranchise those rights to third parties. Emart24 said details on the opening schedule of the first converted outlet will be announced later. Laos will become Emart24's fourth overseas market after Malaysia, Cambodia and India. The company cited the country's robust economic growth and rising demand for Korean food as drivers of its growth potential. Laos' per capita food expenditures rose at an average annual rate of 5.5 percent to $838 in 2023 from $677 in 2019, according to the company. Emart24 currently operates about 6,100 outlets in Korea, as well as 102 in Malaysia, seven in Cambo

Sep 28, 2025By Yonhap

Emart24 to open 1st convenience store in Laos

Kakao hit with backlash over ‘unwanted’ messenger update

Kakao is faced with mounting public backlash for its controversial update of KakaoTalk — the nation’s dominant mobile messenger app — with a growing number of users urging the firm to roll back the service. Last week, the mobile platform operator carried out a complete revamp of the app for the first time in 15 years, in what the company said was aimed at offering “more convenient chat experiences” to its users. The reaction, however, showed otherwise, as most users argue the app has lost its identity by imitating the format of Instagram. In particular, they voice complaints that they have lost their privacy, as any updated photos of KakaoTalk users’ friends are now automatically exposed on the app’s main page. According to data from user experience consultancy pxd, some 42 percent of KakaoTalk users called the overall update of the app “unsatisfactory.” The company tracked 1,000 reviews posted on Google Play Store and Apple App Store after KakaoTalk’s update. User anger shows no signs of abating nearly a week after the update, with a number of users stepping up criti

Sep 28, 2025By Lee Min-hyung

Kakao hit with backlash over ‘unwanted’ messenger update

Gov't, LGES face scrutiny after state data center fire

All eyes on cause of explosion LG Energy Solution (LGES) is facing scrutiny after it was revealed that the company supplied the batteries that exploded Friday at the state data center and sparked a fire in a server room. The resulting disruption to hundreds of online government services has prompted worry among the battery maker’s investors about a potential sharp decline in the company’s stock price in the coming week. However, industry officials raised the possibility that human error may have occurred during the relocation of uninterruptible power supply (UPS) systems inside the facility. According to the Ministry of the Interior and Safety, LGES supplied its lithium-ion batteries between 2012 and 2013 to power the UPS systems installed at the National Information Resources Service (NIRS) in Daejeon. Along with the batteries, LG CNS provided its battery management system to a UPS system manufacturer. The interior ministry, which oversees NIRS, said sparks were produced when outsourced workers moved the facility’s UPS systems to a basement floor. The workers were attempting to se

Sep 28, 2025By Park Jae-hyuk

Gov't, LGES face scrutiny after state data center fire

LX chairman launches fellowship to support basic science education

LX Group is partnering with Seoul National University (SNU) to invest 700 million won ($496,000) over the next five years to unearth and nurture the next generation of scientists. LX Holdings announced Sunday that the group signed an agreement with SNU on Friday to establish the LX Science Fellowship. The signing ceremony at the university was attended by LX Group Chairman Koo Bon-joon, SNU President Ryu Hong-lim and other dignitaries from both parties. The LX Science Fellowship is a tailored scholarship program for undergraduate and graduate students, as well as degree holders, affiliated with SNU’s College of Natural Sciences. Starting this year, LX Group will contribute 700 million won over five years to support the identification and development of outstanding young scientists in basic science fields, which are expected to drive future scientific and technological progress. Through the program, 40 undergraduate students from SNU’s College of Natural Sciences will receive annual research internships and scholarships. Each semester, LX Group will also recognize outstanding interns

Sep 28, 2025By Nam Hyun-woo

LX chairman launches fellowship to support basic science education

Buldak instant noodles top 8 bil. in global sales

Samyang Foods’ Buldak instant noodles series has surpassed 8 billion units in cumulative sales, underscoring the brand’s rise as one of the most prominent symbols of K-food around the world. First launched in 2012, the spicy noodles quickly gained traction for their unique, fiery flavor and viral eating challenge, fueling demand well beyond Korea. The brand hit 5 billion in sales in 2023, 7 billion in 2024 and crossed 8 billion in the first half of this year. The milestone is nearly equivalent to the world’s population of 8.2 billion, illustrating the product’s transformation into a global phenomenon. Exports now reach more than 100 markets, including the United States, China, Southeast Asian and European countries, helping cement Korean noodles as a mainstream international food item. Samyang attributed the success not only to the noodles’ spice factor but also to a proactive localization strategy. The company has tailored products, distribution and marketing to appeal to regional tastes and cultures, building a foundation for long-term expansion. Backed by strong product qual

Sep 28, 2025By Ko Dong-hwan

Buldak instant noodles top 8 bil. in global sales

Cumulative sales of Hyundai Motor's GV80 exceed 100,000 in US

Cumulative sales of Hyundai Motor's GV80 sports utility vehicle (SUV) have surpassed 100,000 units in the United States just five years after its launch, according to the carmaker Sunday. The GV80, which debuted in 2020 in one of the world's largest automobile markets, reached 100,446 units sold in the U.S. as of last month on strong consumer demand, according to Genesis. The model drew global attention in 2021, when golfer Tiger Woods survived a serious rollover crash in a GV80 during the Genesis Invitational, an incident that helped raise its profile and boost sales in the U.S. In the January-August period, GV80 sales in the U.S. rose 20 percent on-year to 17,009 units, accounting for 40 percent of its global sales of 42,489 units during the same period. The model's average traded price (ATP) in the U.S. climbed to $64,766 in August, up 4.2 percent from $62,132 a year earlier, data from market research firm Cox Automotive Inc. showed. Genesis has set a global sales target of 350,000 units by 2030, up 55 percent from its projected 225,000 units for this year. It remains uncertain whether