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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.

Trade commission recommends accepting Chinese steel companies' price hike pledge as anti-dumping measure

Korea's trade watchdog on Thursday recommended the government accept a proposal from Chinese steel companies to raise export prices of their hot-rolled carbon and alloy steel plates over the next five years as part of anti-dumping remedies. The Korea Trade Commission (KTC) said it has decided to make such a recommendation to the Ministry of Economy and Finance for nine Chinese steel exporters, including Baoshan Iron & Steel and Jiangsu Shagang Steel. The companies have proposed a price undertaking after the KTC reached a preliminary decision in February to impose anti-dumping duties, having determined that the exporters inflicted damage on the Korean steel industry by selling their products here at excessively low prices. The KTC said it will recommend the ministry levy anti-dumping tariffs of up to 34.1 percent for the next five years on other Chinese companies that did not make such proposals. Trade authorities launched an investigation into the case in October, three months after Hyundai Steel filed a complaint with the government against competing low-priced thick steel plate imports

Aug 28, 2025By Yonhap
Trade commission recommends accepting Chinese steel companies' price hike pledge as anti-dumping measure

Musinsa, Anta Sports form joint venture to tap Chinese fashion market

Major fashion shopping platform Musinsa will establish a new fashion company in China with Anta Sports, a major sportswear company in the colossal East Asian market. The Korean firm said Thursday that it expects to launch Musinsa China after passing regulatory approval next month. Musinsa, which curates and sells designer goods primarily from Korean small- and medium-sized enterprises, will hold a 60 percent stake in the joint venture, with Anta Sports owning the remainder. Musinsa China will oversee online and offline expansion of Musinsa's private brand, Musinsa Standard, and the physical locations for Musinsa in the Chinese market. Anta Sports will exercise strategic and financial oversight through representatives on the board of directors. The partnership reflects the two companies' shared strategic interest in the rapidly evolving Chinese fashion market. Musinsa, a leading fashion platform with 10,000 curated brands, is actively supporting the entry of promising Korean designer brands in China. The Korean firm said Musinsa China creates an opportunity to "leverage convergence of spor

Aug 28, 2025By Ko Dong-hwan
Musinsa, Anta Sports form joint venture to tap Chinese fashion market

Signify unveils new lineup of WiZ smart lighting products

Lamps on the floor and strip lights attached to the ceiling and the back of a television emitted red, green, blue, yellow and other colors Thursday, detecting the movements of people inside a Seoul home used as an Airbnb residence. In another room, lights synchronized to music beats flickered and shifted colors. During a press conference introducing the Wi-Fi-enabled lighting products Signify brought to the Korean market, the world's leading lighting company said the five new products were designed to offer a more immersive entertainment experience. The Dutch company, formerly Philips Lighting, released the new products under the brand name of WiZ, a smart lighting startup acquired by Signify in 2019. The lineup includes the WiZ HDMI Sync Box TV Lightstrip, RGB LED Strip 15m, RGBIC LED Strip 5m, Gradient Floor and Dial Switch. Signify said users can easily control the new devices with the WiZ mobile app or the Dial Switch. WiZ HDMI Sync Box TV Lightstrip, a highlight of the event, features real-time syncing with television displays and rhythm-based lighting effects using its built-in micr

Aug 28, 2025By Park Jae-hyuk
Signify unveils new lineup of WiZ smart lighting products

CJ CheilJedang launches all-purpose kimchi sauce for global food service market

CJ CheilJedang will begin exporting its all-purpose kimchi cooking sauce next month to 12 countries, including the United Kingdom, France, Japan, Brazil, Chile and Uzbekistan, targeting restaurants and food service providers, the food company said Thursday. The sauce allows these businesses to serve authentic kimchi-based Korean dishes and is expected to reach local Asian and ethnic restaurants, hotels and canteen meal providers. Developed using CJ CheilJedang’s patented fermentation technology, the sauce preserves kimchi’s authentic flavor while maintaining consistent quality across all products. It can also be stored at room temperature for up to 18 months. CJ CheilJedang said the sauce is unprecedented because of the chronic problems caused by fermentation that affect kimchi quality after time, along with difficulties in distribution and storage. The company said the sauce “has finally opened doors to kimchi’s long-sought globalization.” “The sauce will prevent K-foods abroad from having inconsistent taste and quality by delivering an authentic kick of kimchi and tradition

Aug 28, 2025By Ko Dong-hwan
CJ CheilJedang launches all-purpose kimchi sauce for global food service market

Hyundai Glovis recognized as world’s fastest-growing logistics firm

Hyundai Glovis has been recognized as the world’s fastest-growing logistics company, according to a global brand valuation consultancy Thursday. A recent report by Brand Finance showed the brand value of the Korean logistics firm surged 81 percent in 2025 from the previous year, the highest growth rate among the world’s top 25 logistics firms. Valued at $3 billion (4.16 trillion won), Hyundai Glovis ranked 21st in brand value among the surveyed global logistics firms and was the only Korean logistics company to make the list. Hyundai Glovis also ranked fourth in Brand Finance’s Brand Strength Index with a score of 86.1 points. This reflects the firm’s competitiveness in areas such as investment, brand recognition and business performance. In 2023, Hyundai Glovis unveiled its road map to achieve carbon neutrality by 2045. The firm is on track to introduce auto carriers powered by dual-fuel liquefied natural gas (LNG) engines through a 2.5 trillion won investment and plans to gradually increase the share of the vessels in its fleet. LNG duel-fuel engines run on both conventional hea

Aug 28, 2025By Lee Min-hyung
Hyundai Glovis recognized as world’s fastest-growing logistics firm

Hyundai E&C’s Hillstate Hoeryong sees strong buyer interest

Hyundai E&C’s new apartment project in Uijeongbu is drawing buyers with its signature premium apartment brand and convenience in location and everyday lifestyle features. According to the major construction firm, on Thursday, Hillstate Hoeryong Station Parkview in the city’s Howon area in Gyeonggi Province is attracting buyers who have signed a purchase contract before moving in April next year. It is the first Hillstate apartment town the company is introducing in Howon. The upcoming town with 1,816 units is attracting buyers for multiple reasons, the company said. One of them is Hillstate’s brand power. According to the Korea Corporate Reputation Research Institute, Hillstate has topped apartment brand rankings for 77 consecutive months since April 2019, highlighting its popularity. Another advantage is a lower financial hurdle. Improved from the country's conventional down payment rate of 10 percent, Hillstate Hoeryong requires 5 percent, or a 5 million won ($3,580) flat fee for all 674 units that are up for sale in the lot. Purchase contracts for Hillstate Hoeryong are open to

Aug 28, 2025
Hyundai E&C’s Hillstate Hoeryong sees strong buyer interest

POSCO helps university students teach science to underprivileged children

Another group of university students has begun volunteering with support from POSCO. The steelmaker said Thursday that its 18th Beyond members have engaged in volunteer activities since a launch ceremony in June. Beyond, a university student volunteer group organized by POSCO in 2007, has seen more than 1,500 students participate over the past 18 years, working to address environmental and social issues through volunteer work in Korea and abroad. In line with POSCO's efforts to develop future-oriented technologies, including its "intelligent factory" initiative, new Beyond members have focused on teaching science and technology to underprivileged children living near the company's steel mills in Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province. Last month, the volunteers used engineering kits to teach around 60 children from four child welfare centers in Pohang. After developing their own kits, they also taught engineering to around 70 children from child welfare centers in Gwangyang. "We were proud to connect with the children and teach them science using the engin

Aug 28, 2025By Park Jae-hyuk
POSCO helps university students teach science to underprivileged children

Samsung Electronics integrates Microsoft's Copilot AI into TVs, monitors

Samsung Electronics said Thursday it has adopted Microsoft's Copilot, a generative artificial intelligence (AI) assistant program, for its latest TVs and monitors to offer customized interactivity to viewers. The Microsoft AI will be applied to Samsung's latest TVs and monitors launched this year, including the premium Micro RGB TV. "With Copilot built into the display, users can access Microsoft's powerful AI companion through a simple voice command or click of the remote, making it easier to search, learn and engage with content directly from their screens," the company said. Samsung said users can experience natural voice interaction to receive personalized responses, such as music recommendations or weather information. "Through our open AI partnerships, Samsung is setting a new standard for AI-powered screens," said Kevin Lee, executive vice president of Samsung's display business. "Copilot makes it fun and easy to quickly get what you need through tailored experiences, whether you're learning something new, enjoying entertainment, tackling everyday tasks or more," Lee added. Samsung

Aug 28, 2025By Yonhap
Samsung Electronics integrates Microsoft's Copilot AI into TVs, monitors

OpenAI Korea set to launch next month

The Seoul branch of U.S. artificial intelligence (AI) company OpenAI is set to open next month, industry sources said Thursday, as part of the company's push for the Korean market. OpenAI Korea will hold a press conference Sept. 10, which is expected to serve as its official launch event, according to the sources. At the event, Jason Kwon, chief strategy officer (CSO) at OpenAI, is scheduled to present the company's vision and strategies for Korea. He is also expected to introduce the head of OpenAI Korea, a position that is reportedly still in the hiring process. Since announcing its plan to establish a Seoul office in May, OpenAI Korea has been actively recruiting for its local team. The Korean office is part of OpenAI's global expansion, as the operator of the AI chatbot ChatGPT has launched 11 new offices in major cities, including Paris, Brussels, Singapore, London, Dublin and Tokyo, in recent years. Korea has become one of OpenAI's fastest-growing markets, ranking second only to the United States in the number of paid ChatGPT subscribers.

Aug 28, 2025By Yonhap
OpenAI Korea set to launch next month

InterviewSeasoned shipyard worker behind turtle ship gifted to Trump

A golden miniature turtle ship that President Lee Jae Myung offered to U.S. President Donald Trump to commemorate their first summit at the White House on Monday (local time) has drawn public attention since the presidential office released photos of gifts exchanged by the two leaders. Modeled after the battleship designed by Adm. Yi Sun-sin of the Joseon Dynasty (1392-1910) to repel Japanese naval invasions between 1592 and 1598, the miniature was engraved with Yi's famous quote: "Those who seek death shall live and those who seek life shall die." The craftsman behind the symbolic gift is Oh Jeong-cheol, a 56-year-old assembler who has worked for HD Hyundai Heavy Industries in Ulsan since 1987. He was recognized by the president in 2017 as a Master Hand in machine assembling, after earning a title of excellent skilled technician from the Ministry of Employment and Labor in 2014. Oh said he spent two weeks in August making the miniature, after a request from the Ministry of Foreign Affairs in late July. At that time, Seoul and Washington had signed a tariff deal and agreed to revive U.S.

Aug 28, 2025By Park Jae-hyuk
Seasoned shipyard worker behind turtle ship gifted to Trump
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