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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.

Hanwha improves fundamentals in 3 years under Vice Chairman Kim Dong-kwan

Hanwha Group Vice Chairman Kim Dong-kwan has marked his third year in the post with significant improvements in the business fundamentals of the heavy-industry-oriented conglomerate under his leadership. Kim, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been at the forefront of the group’s management since being appointed vice chairman on Aug. 29, 2022. One of the most noteworthy changes under his leadership is the rapid growth of the group’s corporate value. As of August this year, the combined market capitalization of Hanwha’s 13 listed companies stood at 120.7 trillion won ($87 billion), up 177.4 percent from 43.5 trillion won at the end of last year. During the same period, the benchmark KOSPI grew 30.6 percent, meaning the market valuation on Hanwha Group has far outpaced the average. Playing a pivotal role are the group’s aggressive and timely investments in industries with strong momentum, especially shipbuilding and defense. In 2021, before Kim’s promotion to vice chairman, Hanwha’s defense and shipbuilding units posted a combined 6.76 trillion won in sa

Aug 31, 2025By Nam Hyun-woo
Hanwha improves fundamentals in 3 years under Vice Chairman Kim Dong-kwan

Hyundai's new hydrogen car sales hit around 7,000 units since launch

Hyundai Motor said Sunday sales of its face-lifted Nexo hydrogen-powered sport utility vehicle (SUV) have reached nearly 7,000 units since its launch in June, far outpacing its predecessor. Sales of the upgraded hydrogen fuel cell electric vehicle (FCEV) model came to 6,767 units in the June-August period, far surpassing the 1,500 units recorded by the first-generation model during the first three months after its release in 2018, according to the company. The new model boasts a driving range of up to 720 kilometers on a single charge and a high-efficiency powertrain with a maximum motor output of 150 kilowatts. To promote hydrogen cars, Hyundai Motor provided 32 Nexo SUVs as protocol vehicles for the Asia-Pacific Economic Cooperation Energy Ministerial Meeting held in the southern port city of Busan last week. "The rising sales of the Nexo, along with its use at international events, indicate hydrogen mobility is gradually becoming part of everyday life," a company official said.

Aug 31, 2025By Yonhap
Hyundai's new hydrogen car sales hit around 7,000 units since launch

Number of Kakao subsidiaries down 30% since 2023 amid business reshuffle

The number of subsidiaries under Korean IT giant Kakao fell 30 percent over the past two years, data showed Sunday, amid the company's efforts to streamline its businesses. The operator of Korea's most popular mobile messenger, KakaoTalk, had 102 subsidiaries as of Sunday, sharply down from 147 in May 2023, according to the data. The decrease came as Kakao carried out a company-wide reshuffle to focus on its artificial intelligence (AI) business while streamlining non-essential operations. Recently, Kakao Games, the gaming arm of Kakao, completed the process of selling its shares in Neptune to Krafton, after announcing the plan in a regulatory filing in April. Kakao plans to unveil its latest AI vision during an annual conference scheduled for September, including the launch of an AI platform under a unified brand, Kanana, as well as other related services in collaboration with U.S. tech giant OpenAI.

Aug 31, 2025By Yonhap
Number of Kakao subsidiaries down 30% since 2023 amid business reshuffle

Samsung Electronics tops Indian TV market in H1: data

Samsung Electronics ranked first in the Indian TV market in the first half of 2025, data showed Sunday, backed by robust sales of large-sized premium models. The Korean tech giant accounted for 23.8 percent of the market during the January-June period, maintaining the top spot since 2017, according to data compiled by global market research firm Omdia. LG Electronics, Samsung's smaller Korean rival, ranked second with a 16.5 percent share, followed by China's Xiaomi with 7.9 percent. Industry watchers said Samsung was able to sustain strong sales in India with its cutting-edge large-screen models, including Neo QLED and OLED TVs. Educational content offered through Samsung's smart TV platform, along with global entertainment titles, including programs from Korea, also helped the company maintain its leading spot, they added. The combined sales of TVs in India were estimated at 11.29 million units in 2024.

Aug 31, 2025By Yonhap
Samsung Electronics tops Indian TV market in H1: data

US to make it harder for SK hynix, Samsung to make chips in China

The U.S. Commerce Department announced a plan Friday to strip South Korean tech firms Samsung Electronics Co. and SK hynix Inc. of "validated end-user (VEU)" status, a move that will require them to secure licenses for sending certain U.S. chipmaking equipment to their plants in China. On the Federal Register, the department's Bureau of Industry and Security said it will revise the existing VEU authorizations list for China by removing the companies as well as Intel Semiconductor Ltd. The department stressed its intention not to grant licenses to expand their capacity or upgrade technology at plants in China. During the previous Biden administration, Samsung Electronics and SK hynix were designated as VEUs, a status that reduces the licensing burden on the companies by allowing them to ship certain U.S. semiconductor equipment to pre-approved sites under a general authorization instead of individual export licenses. The decision will take effect 120 days after the official date of its publication on Sept. 2. In a press release, the Commerce Department said that the plan to revoke the VEU

Aug 29, 2025By Reuters
US to make it harder for SK hynix, Samsung to make chips in China

Louis Vuitton opens pop-up in Seoul to debut beauty line

Global luxury fashion brand Louis Vuitton will open a new beauty product store in Seoul, embarking on a new business here alongside the country’s K-beauty trend, now growing worldwide. La Beaute Louis Vuitton is set to open its first pop-up store in Seoul’s Gangnam District on Monday. The first floor of the three-story shop includes a virtual test zone and Key Look experience zone, located next to displays of products for sale. The second floor is dedicated to a vanity trunk, makeup station and perfumes, and contains a lounge. The vanity trunks and makeup stations are inspired by Louis Vuitton’s history and craftsmanship, dating back to the company's foundation as a luggage maker in 1854. The top floor is a cafe serving beverages and desserts. British makeup artist Dame Pat McGrath is the creative director for La Beaute Louis Vuitton’s inaugural beauty collection. Dubbing the brand the “fruit of craftsmanship and innovation,” she said the collection will open a new dimension for luxury beauty. La Beaute Louis Vuitton’s products span lipsticks, balms and eyeshadows. LV Rouge,

Aug 29, 2025By Ko Dong-hwan
Louis Vuitton opens pop-up in Seoul to debut beauty line

Air Seoul to resume Incheon-Guam flights in Oct.

Air Seoul, a Korean budget carrier, said Friday it will resume flights between Incheon and Guam in late October, three years after suspending the service in 2022 due to the COVID-19 pandemic. The carrier plans to operate one flight a day on the route starting Oct. 26, the company said in a press release. Air Seoul, a low-cost unit of Asiana Airlines, currently flies on domestic routes, as well as international services to Japan, Vietnam and the Philippines. The airline operates six A321-200 passenger jets.

Aug 29, 2025By Yonhap
Air Seoul to resume Incheon-Guam flights in Oct.

Aviation safety investment up 5.7% in 2024; Jeju Air's plunges 36.5%

Investments by Korean airlines and airport operators in safety measures rose 5.7 percent in 2024 from a year earlier, though leading budget carrier Jeju Air recorded a sharp decline, the transport ministry said Friday. The combined investment by two airport operators and 16 air carriers in safety measures reached 6.17 trillion won ($4.45 billion) last year, up from 5.84 trillion won in 2023, according to the Ministry of Land, Infrastructure and Transport. The ministry projected the figure will increase to 10.2 trillion won this year and 10.65 trillion won in 2026. By company, the country's two full-service carriers — Korean Air and Asiana Airlines — accounted for 75 percent, or 4.63 trillion won, of the total last year. Nine low-cost carriers' investments climbed 2.2 percent to 1.24 trillion won. Among them, Jeju Air and Air Busan were the only two budget carriers that reported reduced spending on safety measures, the release said. The remaining five are small aircraft operators. Jeju Air's investment fell 36.5 percent to 313.5 billion won, while that of Air Busan declined 23.3 percent

Aug 29, 2025By Yonhap
Aviation safety investment up 5.7% in 2024; Jeju Air's plunges 36.5%

Paik Jong-won’s Theborn Korea referred to prosecution over farmland law violations

Theborn Korea, a restaurant franchise led by celebrity chef and TV personality Paik Jong-won, has been referred to prosecutors on charges of violating Korea’s farmland and food safety laws. The anti-corruption and economic crime unit of the South Chungcheong Provincial Police said on Thursday that it had referred Theborn Korea, its officials and staff at its Baekseok plant without detention on suspicion of violating the Farmland Act and the Livestock Products Sanitary Control Act. Authorities said the company operated a food factory in an agricultural promotion zone in Yesan County, South Chungcheong Province, where it produced and sold products using imported ingredients. Under the Farmland Act, food factories located within such zones must use domestically sourced agricultural and marine products. From September 2016 through March this year, the Baekseok plant allegedly used foreign ingredients such as Chinese fermented soybean blocks and soybeans imported from the United States, Canada and Australia to produce doenjang (soybean paste). The company halted operations at the facility

Aug 29, 2025By Hankookilbo
Paik Jong-won’s Theborn Korea referred to prosecution over farmland law violations

TEST DRIVE IONIQ 6 set to drive EV popularization as longest-range car

GOYANG, Gyeonggi Province — Hyundai Motor’s refreshed all-electric sedan, the new IONIQ 6, has returned with the eye-catching label of the electric vehicle (EV) with the longest driving range in Korea. The carmaker’s flagship electric sedan is capable of travelling up to 562 kilometers on a single charge, the longest among any EV available for sale here. Hyundai Motor expects the vehicle to help speed up the popularization of EVs in the local market. In a media event to introduce key features of the vehicle on Wednesday, the carmaker showcased the vehicle’s 84 kilowatt-hour (kWh) battery, up from 77.4 kWh in the previous model. Along with the enhanced battery capacity, the carmaker achieved an impressively low drag coefficient of 0.21 to maximize the driving range. Vehicles with a lower drag coefficient are considered highly aerodynamic, helping them run with less air resistance. “We have been able to launch the longest-range EV by enhancing its battery capacity and aerodynamic performance,” a researcher at Hyundai Motor told reporters during the carmaker’s tech talk event

Aug 29, 2025By Lee Min-hyung
[TEST DRIVE] IONIQ 6 set to drive EV popularization as longest-range car
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