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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.

Nearly 100,000 people switch mobile carriers following subsidy ban lift: data

Nearly 100,000 people have switched their mobile carriers to a different company in just a few days after a controversial handset subsidy ban was lifted last week, industry data showed Monday. According to the data, 95,233 mobile number portability (MNP) transfers were recorded from Tuesday to Saturday. The government's ban on excessive handset subsidies, in place since 2014, was officially removed Tuesday, opening the door for mobile carriers to offer larger incentives and benefits to attract subscribers. On the first day of the change, 35,131 people switched carriers, a sharp increase from 10,703 the previous day. The daily figure then declined to 19,388 on Wednesday, followed by 13,496, 13,142 and 14,076 in subsequent days. Industry leader SK Telecom saw a net loss of 322 subscribers over the five-day period, while rivals KT and LG Uplus gained a net 522 and 70 new MNP members, respectively. SK Telecom has been struggling with a decline in subscriptions following a major data breach in April. The five-day MNP total remains far higher than the 39,000 transfers recorded during the first f

Jul 28, 2025By Yonhap
Nearly 100,000 people switch mobile carriers following subsidy ban lift: data

LG Chem creates social value with its Green Connector vision

LG Chem is focusing its social initiatives on building a healthier society as part of its environmental, social and governance (ESG) management. Since unveiling its Green Connector vision in August 2020, the company has concentrated its efforts on making tangible environmental and social impacts, prioritizing four key areas: education, ecosystems, economy and energy. The company’s flagship social project in education is Like Green, which is dedicated to ensuring a more sustainable planet. As part of the initiative, it runs a YouTube channel designed to help the public understand key environmental, science and social issues, inviting experts from various fields — including United Nations Global Compact Korea Chief Lee Eun-kyung and actor Nam Bo-ra — for in-depth conversations. The topics range from electric vehicles and ESG trends to issues like infertility. With over 1 million cumulative views on the channel, it has established itself as a crucial platform to help people understand ESG concepts and motivate them to put those ideas into action. The initiative also includes the Green

Jul 28, 2025
LG Chem creates social value with its Green Connector vision

Yulchon joins hands with FleishmanHillard Korea to introduce integrated consulting services

Yulchon and FleishmanHillard Korea have signed a memorandum of understanding to jointly strengthen consulting services for publicly listed companies. The services include tailored solutions to counter various challenges related to crisis management, shareholder meetings and shareholder rights, according to a Yulchon official. “The law firm’s legal expertise and FleishmanHillard’s strategic communications capabilities will create synergy in the rapidly changing capital market,” the law firm official said, Monday. “The market is driven by the rise of shareholder activism, expanded ESG (environmental, social and governance) requirements and recent corporate law amendments. We will jointly deliver comprehensive, integrated solutions for clients navigating complex business environments.” Under the partnership, both companies are expected to cooperate in three key areas: crisis response, shareholder meetings and shareholder rights advocacy. They also plan to share the latest trends and practical expertise through regular joint seminars offering hands-on learning opportunities for ex

Jul 28, 2025By Jhoo Dong-chan
Yulchon joins hands with FleishmanHillard Korea to introduce integrated consulting services

9 months into business, Starbucks at inter-Korean border still bustles

GIMPO, Gyeonggi Province — Nine months after opening just 1.4 kilometers across the Jogang River from Kaepung County in Gaeseong, North Korea, Starbucks Gimpo Aegibong Ecopark remains bustling with visitors. On Wednesday morning, nearly all of the cafe’s 20 tables were occupied. Outside, six binocular tower viewers drew visitors eager for a glimpse across the border, where signs of human activity in North Korea could be seen. A group of six Taiwanese adults murmured quietly as they gazed across the inter-Korean border from the observatory deck. “We heard about this spot and its proximity to North Korea. This is really interesting, being able to enjoy coffee so close to the country,” one of the foreign tourists said. Inside the cafe, another group of visitors sat in a row facing a window wall that looks out toward the unreachable land. A Korean guide engaged in conversation with four Taiwanese women, speaking in English. “This must be the most exotic place in the world which sells Starbucks coffee,” one of the Taiwanese visitors said. The cafe welcomes people from various conti

Jul 28, 2025By Ko Dong-hwan
9 months into business, Starbucks at inter-Korean border still bustles

Turkish business expert to lead Pernod Ricard Korea

A Turkish sales and marketing expert will lead Pernod Ricard Korea starting Sept. 1. The French liquor company’s Korean subsidiary said Monday that Fadil Tasgin, managing director of Pernod Ricard Philippines and Indonesia Cluster, will replace current Pernod Ricard Korea President and CEO Frantz Hotton. Most of Tasgin’s predecessors, including Hotton, were French nationals. The appointment of a Turkish CEO has drawn attention amid challenges facing the company, including the Korean whisky market's slow growth in the aftermath of high inflation. Tasgin majored in business management at Middle East Technical University in Ankara and began his career at packaged goods company Unilever in 1995, working as an executive overseeing sales in Turkey. He also led sales for food and beverage company Danone in Turkey from 2004 to 2012. In 2012, Tasgin joined Pernod Ricard to oversee the company’s sales in Turkey. After leading the liquor firm’s operations in Austria and the Philippines, he was appointed head of Pernod Ricard Philippines and Indonesia Cluster in 2023. “I am well aware of the i

Jul 28, 2025By Park Jae-hyuk
Turkish business expert to lead Pernod Ricard Korea

Korean Air marks 30th anniversary of Washington route with special event

Korean Air, Korea's leading air carrier, said Monday it has celebrated the 30th anniversary of its Washington, D.C., route with a commemorative event held at Dulles International Airport in the U.S. capital. To mark the milestone, the airline offered a complimentary round-trip ticket from Washington to Incheon to the 30th passenger checking in for flight KE094 on Friday. All passengers on the flight also received special anniversary gifts. Korean Air launched its Washington, D.C., route in July 1995, initially as a one-stop flight via New York before converting it to a direct route in 1999. The direct connection has since played a key role in strengthening political, economic and cultural ties between Korea and the United States, the company said. Since 2008, the airline has been the only Korean carrier operating a daily nonstop flight between Incheon and Washington. "Washington, D.C., together with New York and Los Angeles, is one of the key pillars of our U.S. network, serving as a vital hub for premium, diplomatic and business travel," said Lee Jin-ho Lee, senior vice president and he

Jul 28, 2025By Yonhap
Korean Air marks 30th anniversary of Washington route with special event

SPC vows to limit night-shift hours as President Lee slams 'excessive labor'

Food conglomerate SPC will introduce an eight-hour cap on night shifts for factory workers, just two days after President Lee Jae Myung visited one of its plants and criticized the excessive working hours as a possible cause of the deaths of workers at the company's plants. The group’s committee of chief executives held an emergency meeting on Sunday to overhaul its manufacturing system, aimed at limiting overtime to no more than eight hours. “We plan to make major changes to our overall production structure to eliminate overtime night shifts that exceed eight hours, including hiring more staff, adjusting product types and amount and reorganizing production lines,” the group said in a press release. “Each subsidiary will develop its own specific plan, and will fully implement the new system on Oct. 1.” The group also shared that it will cut back on running production lines at night, except for a few essential products, to shorten the operation hours of the factories. It also plans to reduce working hours gradually during the day, aiming to mitigate employee fatigue and maintain

Jul 27, 2025By Lee Gyu-lee
SPC vows to limit night-shift hours as President Lee slams 'excessive labor'

KGC's ginseng extract technologies shared at Growth Asia Summit

Korea Ginseng Corp. (KGC), a maker of ginseng extract products, shared the nutritional benefits of ginseng and how it incorporates natural ingredients into its key products at a global health supplement industry summit in Singapore. KGC said Sunday it participated in Growth Asia Summit 2025 from July 15 to 17. Over 300 nutrition experts from 15 countries including China, Japan, Australia and Singapore joined the event. Keynote speakers included representatives of globally renowned brands such as Nestle, Danone, Blackmores, Swisse and Comvita. During the summit, KGC highlighted how red ginseng has been known for hundreds of years in Korea as a popular ingredient to slow aging and control blood sugar. It explained that Korea's Ministry of Food and Drug Safety has acknowledged red ginseng’s seven natural benefits for human health such as improvement of immunity, fatigue, blood flow and blood sugar. The company introduced its signature brand, Jung Kwan Jang, and some of its key products that specifically targeted men, women, children and older adults including RXGIN, GLPro and Everytime. L

Jul 27, 2025By Ko Dong-hwan
KGC's ginseng extract technologies shared at Growth Asia Summit

PHOTO Custom-built for FC Barcelona players

Seen above is a customized bus for FC Barcelona players, scheduled to visit Korea on Tuesday as part of their Asia tour. The bus features specially designed recliner seats for 20 passengers, each equipped with a massage function, leg rests and other comfort features. The bus will be used to transport the footballers during their stay in Korea, where they will play friendly matches against FC Seoul on Thursday in Seoul and FC Daegu on Aug. 4 in Daegu. Genesis BBQ, the friendly games' host, and DTCH GmbH, a bus customization company, jointly prepared the bus. Courtesy of Genesis BBQ

Jul 27, 2025By Ko Dong-hwanphoto
[PHOTO] Custom-built for FC Barcelona players

Court sides with Kolmar vice chair in feud over management rights

Kolmar Holdings, the holding firm of cosmetics and pharmaceutical manufacturer Kolmar Korea, will be allowed to hold a special shareholders’ meeting for its health supplement unit Kolmar BNH, signaling that the group’s management dispute is leaning in favor of Executive Vice Chairman Yoon Sang-hyun. According to Kolmar BNH’s regulatory filing on Sunday, the Daejeon District Court on Friday approved Kolmar Holdings’ request to hold the unit’s special shareholder meeting. In the ruling, the court said the holding firm may convene the shareholder meeting by Sept. 26 to vote on key issues, including Yoon’s appointment as a Kolmar BNH board member. Kolmar Holdings is led by Executive Vice Chairman Yoon, the eldest son of group founder and Chairman Yoon Dong-han, while Kolmar BNH is headed by younger sister, President Yoon Yea-won. The family has been locked in a dispute over the group’s managing rights since April, when Kolmar Holdings demanded Kolmar BNH hold a shareholder meeting to appoint additional board members, including Executive Vice Chairman Yoon, citing the unit’s p

Jul 27, 2025By Nam Hyun-woo
Court sides with Kolmar vice chair in feud over management rights
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