Business - The Korea Times

McDonald's offers authentic Korean flavors in fast food

McDonald’s Korea’s annual campaign of selecting locally grown produce and using it as a key ingredient for its seasonal menu is evolving beyond simply supporting local farmers. It is now emerging as one of the most anticipated offerings each year, drawing attention from both consumers and the fast food industry. With its unique marketing appeal, the “Taste of Korea” campaign is breaking through as a model case for the global fast food industry, drawing not only favorable consumer responses but also appreciation from the country’s local governments. McDonald's Korea began sourcing key ingredients from local farms in 2020 with the introduction of the Naju Pear Chiller. It used pears from Naju, South Jeolla Province, where 20 percent of the country’s pears in distribution are grown each year. Hallabong Chiller, another crushed ice beverage which used Jeju Island’s signature local citrus fruit, was also launched the same year. The company’s collaboration with local farmers took on a more serious strategy with the launch of its mission to introduce a new burger and side menu

Jul 14, 2025By Ko Dong-hwan

McDonald's offers authentic Korean flavors in fast food

LG Electronics to launch StanbyME 2 portable TV globally

LG Electronics Inc. said Monday it will begin the global rollout of its popular StanbyME 2 portable display this week. The launch of the highly versatile display will begin in Hong Kong and Turkey, followed by the United States, Canada, Vietnam and Singapore later this month. The product is also set to enter the European market next month, according to LG Electronics. First unveiled at CES 2025 in January, the StanbyME 2 features a detachable 27-inch touchscreen and a built-in battery that offers up to four hours of playback. Since its domestic release in February, sales of the new model have nearly quadrupled compared with its predecessor launched four years ago. "With the LG StanbyME 2, we aim to strengthen our leadership in the global portable TV market," said Lee Chung-hwan, vice president at LG Electronics.

Jul 14, 2025By Yonhap

LG Electronics to launch StanbyME 2 portable TV globally

CJ CheilJedang launches Bibigo Korean-style fried chicken in Australia

CJ CheilJedang Corp., a major South Korean food maker, said Monday it has released a Korean-style fried chicken product under its Bibigo brand in Australia. Bibigo Korean Style Fried Chicken was introduced at the Woolworths supermarket chain in Australia earlier this month. The product will also be available at IGA Inc., another major retailer in the country, starting next month. The ready-to-heat product comes in two flavors — sweet and spicy, as well as soy and honey — and is produced locally in Australia, the company said. CJ started local production of some of its products in Australia in 2023 and has since expanded its production line to include other items, such as steamed dumplings and kimchi.

Jul 14, 2025By Yonhap

CJ CheilJedang launches Bibigo Korean-style fried chicken in Australia

Hyundai Motor sales director wins glory for detail-oriented strategy

Shin Dong-sik, a sales director at Hyundai Motor, has received a top-notch sales title from the carmaker for his detail-oriented customer management strategy. His accumulated vehicle sales topped 5,000 as of the end of June. Unlike most other salespeople, Shin started his first job at Hanon Systems and handled a series of technology management tasks at the supplier of automotive thermal and energy management solutions, before starting his second career at the automaker. It took three years for him to decide to change his job, as he wanted to take on more dynamic and active tasks primarily involving daily interaction with people. “I have strengths in the technological understanding of automobiles,” he said during a recent telephone interview. “That is why I can give my customers more detailed explanation on vehicles.” Shin is based in Sejong, in central Korea. He covers sales activities not just in the city, but also in surrounding areas like Daejeon, and even small towns all across Chungcheong Province. He joined Hyundai Motor as a salesperson in 1997, and has since sold an averag

Jul 14, 2025By Lee Min-hyung

Hyundai Motor sales director wins glory for detail-oriented strategy

Gov't expands Korea's only rehab hospital for traffic accident victims

YANGPYEONG, Gyeonggi Province — The government has begun expanding the country’s only hospital dedicated to rehabilitating victims of traffic accidents, as it seeks to help patients recover more quickly and at lower cost in an improved, streamlined setting. The National Traffic Injury Rehabilitation Hospital earlier this month broke ground for a new rehab center for outpatient treatment in Yangpyeong, Gyeonggi Province. The Ministry of Land, Infrastructure and Transport, which runs the hospital, has invested 12 billion won ($8.7 million) in building the two-story rehab center. The first floor will serve pediatric patients and the second floor will be for adults, with a total floor area of 2,062 square meters. Construction is scheduled for completion in 2027. The new facility comes as the hospital has been suffering a shortage of space. Since its introduction in 2014, the hospital has provided treatment on both an inpatient and outpatient basis. Last year, the total inpatient number peaked at 124,510, pushing the hospital bed utilization rate to 87.1 percent. Outpatients also reached

Jul 13, 2025By Ko Dong-hwan

Gov't expands Korea's only rehab hospital for traffic accident victims

Samsung chairman's legal battle set to end this week after decade-long struggle

Samsung Electronics Executive Chairman Lee Jae-yong’s legal battle over a controversial merger between Samsung C&T and Cheil Industries will likely come to an end this week, closing a chapter of legal questions that have weighed on Korea’s biggest business tycoon for the past 10 years. The Supreme Court is set to deliver the final ruling at 11 a.m. Thursday on allegations that Lee was involved in unfair trading, stock price manipulation and accounting fraud during the 2015 merger. The ruling will come exactly 10 years after the merger plan for Samsung C&T and Cheil Industries was passed during the former’s shareholders meeting on July 17, 2015. Lee was indicted in September 2020 on charges of involvement in a scheme orchestrated by Samsung’s now-defunct Future Strategy Office to secure control of the conglomerate at minimal cost through the merger. In February last year, the Seoul Central District Court found him not guilty on all 19 charges, and the Seoul High Court upheld the lower court ruling in February this year. The merger was a subject of heated controversy even before Lee

Jul 13, 2025By Nam Hyun-woo

Samsung chairman's legal battle set to end this week after decade-long struggle

Conglomerate families use unlisted units to cash out hefty dividends

Some chaebol chairmen and their families extracted significant sums from their conglomerates' unlisted units in 2024, industry officials said Sunday. Exploiting weak oversight over the unlisted companies, they received dividends that often exceeded the company's net profits. They even received dividends when firms posted net losses. According to an audit report on the Financial Supervisory Service’s electronic disclosure system, Samyang International, an unlisted subsidiary of GS Group, paid out 10 billion won ($7.2 million) in dividends in 2024, surpassing its net profit of nearly 9.2 billion won. The majority of the dividends, around 8.2 billion won, went to three fourth-generation members of the GS Group owner family, including Huh Joon-hong, the company's largest shareholder. They also received 5.2 billion won and 8 billion won, respectively, from other unlisted affiliates, Samjoung Development and Seungsan. Such practices are widespread across industries, affecting both established and emerging firms alike. K Cube Holdings, an unlisted investment arm of Kakao Group, paid 1.5 billio

Jul 13, 2025By Lee Yeon-woo

Conglomerate families use unlisted units to cash out hefty dividends

Samsung Heavy supplies VR solution for ship simulation to Taiwan's Evergreen

Samsung Heavy Industries said Friday it has provided a virtual reality (VR) training system to Taiwan's Evergreen Marine to support operations of the shipping company's eco-friendly container vessels. The VR solution is designed to allow crew members to familiarize themselves with dual-fuel methanol-powered ships in a simulated environment before deployment at sea. Built using three-dimensional design data, the VR platform enables sailors to interact with ship systems and rehearse emergency situations, such as fuel leaks and onboard fires. Samsung Heavy said the system helps enhance safety, while reducing operational risks and maintenance costs associated with equipment malfunctions. In addition, the two companies will continue to collaborate on autonomous navigation technologies, including Samsung's Smart Autonomous Ship (SAS) platform.

Jul 11, 2025By Yonhap

Samsung Heavy supplies VR solution for ship simulation to Taiwan's Evergreen

Battery makers rise as beneficiaries of Lee's industrial policies

The Lee Jae Myung administration is ramping up efforts to deliver on the president's pledge to invest in energy storage systems (ESS), raising hopes that Korean battery makers will capitalize on this opportunity to overcome challenges from sluggish electric vehicle (EV) demand. As the government highlights the role of ESS in its artificial intelligence (AI) and energy policies, investors are betting on a rebound for battery companies. The presidential office announced Thursday that the government will make major investments in ESS to prevent unstable power supplies at the upcoming national industrial complex, which will rely solely on renewable energy sources such as solar and offshore wind. This announcement follows the administration's decision to prioritize the creation of the so-called RE100 (renewable energy 100 percent) industrial complex, as Lee previously promised. “We are considering addressing the issue by increasing regional ESS,” said Kim Yong-beom, presidential chief of staff for policy, when asked about measures to counter intermittent power generation. “This approach

Jul 11, 2025By Park Jae-hyuk

Battery makers rise as beneficiaries of Lee's industrial policies

SK ecoplant sells part of stake in US fuel cell company

SK ecoplant Co., the construction arm of Korea's SK Group, has sold part of its stake in U.S.-based fuel cell company Bloom Energy Corp., sources said Friday. SK ecoplant offloaded 10 million common shares in Bloom Energy through an over-the-counter block trade at $27.60 per share Thursday, raising approximately $276 million. The company initially invested in Bloom Energy in 2021 and again in 2023 as part of a strategic partnership to expand its hydrogen fuel cell-based power generation business. SK ecoplant was known to hold about a 10 percent stake in the U.S. firm. The latest sale is reportedly equivalent to the shares it acquired in 2021. SK ecoplant said the sale was made to recoup investment following the expiration of a lock-up period. The company emphasized that its strategic partnership with Bloom Energy remains intact despite the partial stake sale.