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Why chaebol heirs opt to be officers during Korea's mandatory military service

Samsung Electronics Executive Chairman Lee Jae-yong’s eldest son, Lee Jee-ho, entered the Republic of Korea Naval Academy in Changwon, South Gyeongsang Province, Monday to fulfill his mandatory military service as a naval officer. This marks the latest in a series of cases of a chaebol scion choosing to fulfill military service as an officer, unlike previous generations who were often faced public criticism after being suspected of dodging the duty required of all able-bodied Korean men. The change is seen as corporate efforts to portray young members of chaebol families as demonstrating social responsibility and proving their capabilities as future business leaders. The younger Lee entered the academy’s compound aboard a minivan at around 1 p.m. Monday. The Navy said he was accompanied by family members, but it was not confirmed whether his mother or sister were among them. Starting Monday, the 24-year-old will begin his 39 months of service, including 11 weeks of basic military training at the academy before being commissioned as an ensign. Born in New York in 2000 to the chairman a

Sep 15, 2025By Nam Hyun-woo
Why chaebol heirs opt to be officers during Korea's mandatory military service

KCCI delegation visits Osaka expo to court attention for Korea's APEC meetings

A delegation from the Korea Chamber of Commerce and Industry (KCCI) visited Expo 2025 in Osaka, Japan, on Monday to promote Korea’s hosting of the upcoming Asia-Pacific Economic Cooperation (APEC) CEO Summit and related meetings. The KCCI said it sent a delegation comprising Korea’s regional chamber of commerce heads to Yumeshima, the site of Expo 2025. The visit came in response to a request made by Japanese business leaders during the 13th Korea-Japan Chambers of Commerce and Industry summit held in Osaka last November. The delegation included KCCI Chairman Chey Tae-won; Seoul Chamber of Commerce and Industry Vice Chairman Lee Hyung-hee; and the heads of chambers from Busan, Daegu, Sejong City, Chungju in North Chungcheong Province, Seosan in South Chungcheong Province and Yeosu in South Jeolla Province. The delegation visited the expo as part of their efforts to commemorate the 60th anniversary of the normalization of diplomatic relations between Korea and Japan. By participating in the event, the KCCI also sought to sustain cooperative momentum ahead of the APEC CEO Summit in Gy

Sep 15, 2025By Nam Hyun-woo
KCCI delegation visits Osaka expo to court attention for Korea's APEC meetings

Young Poong accuses Korea Zinc chairman of abusing board, draining profits

Young Poong accused Korea Zinc Chairman Choi Yun-beom of embodying “the very definition of bad corporate governance and everything that damages shareholder value” on Monday, marking one year since it joined forces with private equity firm MBK Partners to challenge his managerial control. The Young Poong-MBK alliance is currently the largest shareholder of the world’s largest zinc smelter. “As the largest shareholder, we will remain steadfast until Korea Zinc achieves sound corporate governance, underpinned by an independent board, transparent operations and accountable management,” a Young Poong official said. According to Young Poong, the core problem with Choi’s leadership is that Korea Zinc’s board has been effectively paralyzed, with major investment decisions pushed through unilaterally by him and corporate assets diverted to defending his personal control. He allegedly approved large-scale investments without resolutions or reviews, relying on close associates as rubber-stamp directors. A notable example is the 560 billion won ($403 million) investment in OneAsia Part

Sep 15, 2025By Jun Ji-hye
Young Poong accuses Korea Zinc chairman of abusing board, draining profits

Doosan Robotics opens new research facility

Doosan Robotics has opened its new research and development (R&D) facility dedicated to developing more advanced intelligent robots and relevant software technologies, the company said Monday. The Doosan Robotics Innovation Center is located in Bundang, Gyeonggi Province, and is built on some 2,000 square meters of land. The facility is the largest of its kind here, the company said. Almost 40 percent of the firm’s employees will work at the facility to develop advanced robot solutions. They include technologies for humanoid robots and robot-specific artificial intelligence (AI) software. The innovation center will serve as the firm’s major research hub by carrying out all processes from robot parts and software development to quality testing. For instance, the company will conduct thousands of tests on whether its robot arms are capable of moving in every direction without any errors. It also plans to enhance the durability of its products by testing them under extreme conditions, such as high temperatures. Doosan Robotics expects the facility to help speed up the firm’s developmen

Sep 15, 2025By Lee Min-hyung
Doosan Robotics opens new research facility

HD Korea Shipbuilding wins $469.6 mil. order to build 4 container ships

HD Korea Shipbuilding & Offshore Engineering said Monday it has secured a 651.9 billion-won ($469.6 million) order to build four container ships for a shipper based in the British Virgin Islands. The vessels will be constructed at the shipyard of HD Hyundai Samho Heavy Industries, one of its shipbuilding units, with delivery scheduled for the second half of 2028, the company said in a regulatory filing. With the latest contract, HD Korea Shipbuilding has secured orders for a total of 90 vessels worth $12.2 billion so far this year, achieving 67.7 percent of its annual order target of $18.05 billion. HD Korea Shipbuilding is a subholding company under HD Hyundai , formerly known as Hyundai Heavy Industries Holdings. It has three affiliates, including HD Hyundai Heavy Industries and HD Hyundai Mipo Dockyard .

Sep 15, 2025By Yonhap
HD Korea Shipbuilding wins $469.6 mil. order to build 4 container ships

Hyundai Motor’s exposure to US auto tariffs prolonged by stalled trade talks

Hyundai Motor Group’s struggle over the United States’ auto tariff shows signs of dragging on, as Washington is widely expected to maintain the 25 percent duty on Korean vehicles until both countries sign a detailed trade agreement. Hyundai Motor and Kia are particularly exposed to the risk of losing price competitiveness to their Japanese counterparts, as the U.S. is scheduled to lower its auto tariff on Japanese cars to 15 percent starting Sept. 16, following a Washington-Tokyo deal. Japan’s Toyota and Honda are major rivals to Korean carmakers in the U.S. market. According to the Korea Automobile & Mobility Association (KAMA), the combined market share for Hyundai Motor and Kia in the U.S. reached 10.8 percent last year. Seven Japanese brands, including the two major firms, came in at a combined 37.1 percent during the same period. Hyundai Motor and Kia are rapidly increasing their U.S. presence with their eco-friendly vehicle lineups, which include hybrids, electric vehicles (EVs) and cars powered by hydrogen fuel. According to the two carmakers, their accumulated eco-friendly

Sep 15, 2025By Lee Min-hyung
Hyundai Motor’s exposure to US auto tariffs prolonged by stalled trade talks

Korea-US trade negotiations go adrift

Korea’s trade negotiations with the United States are stuck in limbo amid unresolved friction over the operation of a $350 billion U.S. investment fund. On Sunday, Korea’s Industry Minister Kim Jung-kwan returned to Seoul from his visit to New York, where he sought to fine-tune details of the agreement with U.S. Commerce Secretary Howard Lutnick. The latest ministerial talks, however, made little progress, apparently due to stark differences in the approach to the fund’s operation. Upon his arrival at Incheon International Airport, Kim declined to specify, only saying that “negotiations are underway between both sides.” While the two nations reached a broad deal in late July regarding the megasized investment fund for the U.S. as part of a tariff agreement, the launch of the fund is being delayed, as Washington is demanding 90 percent of the profits from the investment. Korea has refused, saying such an “unreasonable” deal will harm its national interest. Both countries have also failed to narrow their differences over the financing of the fund. Korea hopes to finance most

Sep 14, 2025By Lee Min-hyung
Korea-US trade negotiations go adrift

LG Electronics to install digital signage at NFL Baltimore Ravens' stadium

LG Electronics said Sunday it will supply large-scale digital signage to M&T Bank Stadium, home of the Baltimore Ravens of the U.S. National Football League (NFL). Under a new partnership, the Korean tech giant will install 1,115 square meters of state-of-the-art digital signage throughout the stadium, located in Baltimore, Maryland. The installation includes four ultra-large, high-definition displays at the north, south, east and west ends of the stands, including a massive central scoreboard. A giant display stretching approximately 65 meters at the main entrance gate is expected to become a new stadium landmark, LG Electronics said. LG also plans to install more than 100 LG TVs throughout concourse areas and spectator walkways to ensure fans can enjoy game highlights from anywhere inside the venue. Following the end of the NFL season, the company will install an additional 215-square-meter LED display on the stadium's outer wall, the company said, with additional high-resolution screens to be set up in nearby outdoor plazas.

Sep 14, 2025By Yonhap
LG Electronics to install digital signage at NFL Baltimore Ravens' stadium

IAA 2025 Genesis displays high-performance luxury lineups for German auto fair

MUNICH — Genesis has displayed two high-performance luxury lineups — the GV60 Magma Concept and the GMR-001 Hypercar — at its flagship showroom here, with a view to raise awareness of the brand’s dynamic identity among European customers. The iconic showroom is located at the very center of the German city and has served as a major venue for delivering the carmaker’s brand value to customers since its opening in 2021. For this year’s IAA Mobility auto fair, Genesis brought two distinctive orange vehicles to the first floor of the studio, showcasing its strong commitment to diversifying its footing in not just Germany, but other key European markets. The two-story showroom covers 635 square meters, with Genesis’ commercial electric vehicle (EV) lineups displayed on the second floor of the studio, enabling customers to experience the carmaker’s GV60 all-electric SUV, Electrified GV70 and Electrified GV80 SUVs. Genesis made its brand debut in Germany, the United Kingdom and Switzerland in 2021, and has plans to enter four other major European markets — France, Spain, Italy

Sep 14, 2025By Lee Min-hyung
[IAA 2025] Genesis displays high-performance luxury lineups for German auto fair

LG Energy Solution CEO vows full support for workers released from US detention

The chief executive officer of LG Energy Solution on Friday pledged to provide full support to company workers who returned home after a weeklong detention in the United States following an immigration raid at a battery plant construction site in Georgia. Kim Dong-myung made the remark shortly after a Korean Air plane carrying more than 300 Korean workers landed at Incheon International Airport. "Although there were many difficulties, government officials worked hard to achieve this outcome," Kim told reporters. "We are very grateful for the extraordinary efforts that led to such a prompt release and for the careful discussions that ensured no disadvantages for their reentry into the U.S." The CEO said the company will "spare no effort" to support those who have returned so that they can resettle smoothly. The workers were detained last week in a sweeping immigration raid at the Georgia construction site for a battery plant to be operated by a Hyundai Motor Group-LG Energy Solution joint venture. With regard to the possible disruption to the plant construction, Kim said it was still "mana

Sep 12, 2025By Yonhap
LG Energy Solution CEO vows full support for workers released from US detention
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