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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.

SPC launches new whistleblower committee to prevent factory accidents

Giant food conglomerate SPC has launched a new internal committee aimed at reporting the organization’s safety issues and ensuring compliance with the country’s labor laws. The move follows the death of a female employee at an SPC Samlip factory in Siheung, Gyeonggi Province, in May, which sparked public outrage and prompted a police investigation. According to SPC Tuesday, its Transformation Office was launched the previous day and held its first meeting at the group’s office in southern Seoul. The 10-member committee is led by Hur Jin-soo, CEO of Paris Croissant, SPC’s cafe subsidiary. It includes CEOs of other key affiliates — including SPC Samlip, BR Korea, SPC GFS, SPL and Secta9ine — as well as senior executives from across the group. Two representatives, one man and one woman, from the company’s labor union also joined the committee. In addition, the vice president of Korean Air’s IT and Marketing Division joined as an external member. The Transformation Office is comprised of three subcommittees focusing on the conglomerate’s safety system, welfare policies and

Jul 22, 2025By Ko Dong-hwan
SPC launches new whistleblower committee to prevent factory accidents

Renault Korea’s incoming CEO tasked with balancing sales portfolio

Renault Korea’s incoming CEO Nicolas Paris is tasked with balancing the carmaker’s sales portfolio by reducing its heavy reliance on the Grand Koleos hybrid SUV and increasing sales in other lines. Under the leadership of outgoing CEO Stephane Deblaise, the company has charted a solid course for rebound, driven largely by outstanding sales for the strategic model, also known by its project name of Aurora 1. Accumulated sales for the vehicle topped 45,000 by September last year. The vehicle also accounted for some 90 percent of the firm's total auto sales here in the first half of the year. The carmaker, however, is in dire need of a more balanced portfolio, since relying on a single vehicle is risky from a mid- to long-term viewpoint, according to market watchers. Renault Korea also sells the Arkana compact SUV and Scenic E-Tech electric vehicle (EV) in the Korean market, but they are only a minor portion of its sales. Even if Grand Koleos still maintains its luster as a relatively new vehicle, the carmaker has to brace for the worst amid toughening competition in the domestic hybrid

Jul 22, 2025By Lee Min-hyung
Renault Korea’s incoming CEO tasked with balancing sales portfolio

GS Entec delivers locally made monopiles for Yeonggwang offshore wind project

GS Entec has delivered 50 monopile foundations out of a total of 64 for the Yeonggwang Nakwol offshore wind power project. Located off Korea’s southwest coast, the Yeonggwang Nakwol project is a large-scale 365-megawatt offshore wind farm under development in Yeonggwang, South Jeolla Province. It will feature a total of 64 turbines, each with a capacity of 5.7 megawatts. The company signed a 200 billion won ($144.1 million) contract in 2023 to supply all the monopiles required for the project and plans to complete the remaining deliveries by October. Monopiles are cylinder-shaped steel structures that serve as a foundation for securing offshore wind turbines to the seabed. Due to their simple structure, they can be made quickly and cost-effectively, making them one of the most popular offshore wind foundations in the global market. With this project, GS Entec became the first company to supply locally produced monopiles for a large-scale wind farm of over 100 MW, demonstrating the quality and productivity of domestic equipment as well as the potential for localizing its supply chain.

Jul 22, 2025By Lee Gyu-lee
GS Entec delivers locally made monopiles for Yeonggwang offshore wind project

Jeju Air expands fleet with 6th B737-8 as part of modernization push

Jeju Air, Korea's leading low-cost carrier, said Tuesday it has added its sixth Boeing B737-8 aircraft as part of efforts to modernize its fleet. With the latest acquisition, Jeju Air now operates a total of 44 aircraft, with 42 passenger planes and two cargo aircraft. The airline has been accelerating its fleet renewal, having introduced one new aircraft each month over the past three months. It plans to purchase and deploy two more B737-8 units by the end of the year. Amid the fleet increase, Jeju Air said it plans to increase weekly flights on 12 routes, including those to Fukuoka, Weihai, Cebu and Ulaanbaatar, to 74 during the July-August peak travel season. It will also launch new routes, including those connecting Incheon and Singapore, and Busan and Shanghai in the coming weeks. "A next-generation fleet and efficient route operations will be key to securing long-term competitiveness," a Jeju Air official said.

Jul 22, 2025By Yonhap
Jeju Air expands fleet with 6th B737-8 as part of modernization push

InterviewMatin Kim embraces its fan-driven style identity

SEONGNAM, Gyeonggi Province — A unique feature of fashion brand Matin Kim is that it does not have a representative fashion statement. This means there is no consistency in style, no secret formula to define its design and no iconic fabric or sewing patterns to draw public recognition. But it has a bold manifesto which has made it one of the most outstanding labels across Asia: It lets its avid fans worldwide define its style. Lee Jun-seong, strategy division director at Hago Haus, which runs Matin Kim, and his team regularly browse the brand’s official Instagram and TikTok channels to check what their 380,000 followers say. Prior to launching its spring-summer and fall-winter collections, the company begins an opinion-gathering campaign and receives suggestions from social network users. “They talk about what color or which style they want to see in our upcoming collection. They also ask when we will restock items that were sold out or if we will launch certain items in their countries,” Lee said in an interview with The Korea Times at the company’s office in Seongnam, Gyeong

Jul 22, 2025By Ko Dong-hwan
Matin Kim embraces its fan-driven style identity

Nexen Tire deepens ties with Kia

Nexen Tire is strengthening ties with Kia by diversifying its supply lineup for the carmaker’s electric vehicles (EVs) as well as SUVs powered by internal combustion engines, the Korean tire company said Monday. The latest partnership enables Nexen to supply its N’FERA Supreme S premium tires to Kia’s EV6 electric SUV manufactured at its Georgia factory, a move expected to widen the tire maker’s sales portfolio for vehicles in North America. The N’FERA Supreme S is engineered to meet consumer demand for quiet and smooth rides. The model balances stable driving and low rolling resistance, making it well-suited for EVs. Nexen Tire provides tires for Kia’s full EV lineup, which also includes the EV9, showing off the tire firm's involvement in EV technology and production, according to Nexen. Nexen Tire has also expanded its Roadian HTX2 tire supply channels for Kia’s Tasman pickup trucks, which are bound for not only Korea, but also Europe, the Middle East and Africa. The model is optimized for SUVs and pickup trucks, focusing on versatility in on-road and off-road driving. It

Jul 22, 2025By Lee Min-hyung
Nexen Tire deepens ties with Kia

Tmoney transit card access now available for iPhone users in Korea

Apple iPhone users in Korea can now use the country's Tmoney prepaid transit cards from their devices following the launch of technical support for the feature via Apple Wallet on Tuesday. Apple Watch and iPhone users can add their Tmoney card to the Apple Wallet app and pay fares for bus or subway rides. The system supports only prepaid recharges via Tmoney and does not include postpaid cards, the Climate Companion Card or the K-Pass feature. Users can recharge their Tmoney balance within the Apple Wallet using Hyundai Card, the only domestic credit card that currently supports Apple Pay. Additional recharge options are available via a separate Mobile Tmoney app. Use of Apple Pay, which debuted in Korea in March 2023, has been limited to select convenience stores and franchise retailers in the country. The lack of support for transit payments had been cited as a hurdle to wider adoption in the local market.

Jul 22, 2025By Yonhap
Tmoney transit card access now available for iPhone users in Korea

New Galaxy Z Fold 7, Flip 7 break preorder record in Korea

Samsung Electronics said Tuesday preorder sales of its new Galaxy Z Fold 7 and Flip 7 smartphones have set a fresh record for its foldable Z series models in Korea. Preorders for the Galaxy Z Fold 7 and Flip 7 series, introduced on July 9, amounted to 1.04 million units as of Monday, outnumbering the 1.02 million set by the Galaxy Z Fold 5 and Flip 5, according to the company. The previous Galaxy Z Fold 6 and Flip 6 series recorded 910,000 units in preorders. The company said sales of the Galaxy Z Fold 7, which opens and closes like a book, accounted for 60 percent of total presales, while the clamshell-style Flip 7 made up 40 percent. It is the first time that the Fold model has outsold the Flip model since Samsung Electronics launched its foldable lineup in 2019. The latest models feature its slimmest and lightest foldable design with an upgraded camera and artificial intelligence (AI) capabilities. The new Galaxy Z series smartphones will be officially launched Friday worldwide.

Jul 22, 2025By Yonhap
New Galaxy Z Fold 7, Flip 7 break preorder record in Korea

Hyundai Motor Group's US EV exports down 88% in January-May period over local production boost

Hyundai Motor Group's export of electric vehicles (EVs) from Korea to the United States fell nearly 90 percent on-year in the first five months of the year, as the automaker shifts production of America-bound vehicles to its new U.S. facility, according to industry data Tuesday. According to the data from the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia combined exported 7,156 EVs to the U.S. between January and May this year, down 88 percent from 59,705 units during the same period a year earlier. Hyundai Motor, including its premium Genesis line, shipped 3,906 units, marking an 87 percent decline, while Kia's exports dropped 89.1 percent to 3,250 units. The volume represents the lowest level for the January-May period since Hyundai Motor Group began accelerating its electrification strategy in 2021. The decline is largely attributed to Hyundai's ongoing efforts to localize EV production in the U.S. In the first half of the year, the automaker completed construction of its dedicated EV plant, Hyundai Motor Group Metaplant America, in Georgia. It produced 28,957 u

Jul 22, 2025By Yonhap
Hyundai Motor Group's US EV exports down 88% in January-May period over local production boost

Korea, US to resume high-level tariff talks in Washington on Friday

The finance and trade ministers of Korea and the United States will meet in Washington on Friday to resume high-level tariff discussions, with only 10 days left before the Aug. 1 deadline when the Donald Trump administration’s “reciprocal” tariffs are expected to take effect. Speaking to reporters on Tuesday after meeting with ministers responsible for international trade affairs, Deputy Prime Minister and Finance Minister Koo Yun-cheol said Trade Minister Yeo Han-koo will join him on the trip to Washington to meet their U.S. counterparts — U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. “With the Aug. 1 deadline fast approaching, relevant ministries have formed a unified team to respond with a well-coordinated and practical strategy for the national interest,” Koo said. The so-called “two-plus-two” tariff talks have not been held since April, when negotiators from the previous Korean administration agreed to pursue a “July package.” That agreement lapsed after the U.S. extended the July 8 deadline in a letter stating Korea would b

Jul 22, 2025By Park Jae-hyuk
Korea, US to resume high-level tariff talks in Washington on Friday
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