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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.

FTC reviewing merger of Korea's 2nd, 3rd largest cinema operators

Korea's antitrust regulator said Thursday it is reviewing the planned merger between the country's second and third largest theater chains. Media giant JoongAng Group and retail conglomerate Lotte Group submitted a preliminary consultation request to the Fair Trade Commission (FTC) last month after they signed a memorandum of understanding (MOU) in May to merge their respective cinema chains — Megabox and Lotte Cinema. The FTC's preliminary consultation system was introduced last year to expedite mergers between companies. If completed, the merger is expected to reshape the domestic cinema industry by creating a two-horse race between CGV — the current market leader — and the new entity. According to the Korean Film Council, CGV operated 1,346 screens nationwide in 2024, the most among the country's cinema chains. Lotte Cinema had 915 screens, followed by Megabox with 767. If the merger goes through, the number of screens operated by the new entity will surpass that of CGV. Industry watchers are also closely eyeing the potential integration of Lotte Entertainment and PlusM Entertainm

Jul 10, 2025By Yonhap
FTC reviewing merger of Korea's 2nd, 3rd largest cinema operators

SK On gets cybersecurity certification for battery management system

SK On said Thursday its battery management system has earned certifications in cybersecurity assessment (CSA) and functional safety management system (FSMS) level 3 from TUV Rheinland, a global testing and certification organization. This marks the first time a Korean battery maker’s battery management system has obtained international certifications in CSA and FSMS level 3, based on the ISO 26262 standard, which governs the systematic management of functional safety in automotive electrical and electronic systems. According to SK On, CSA certification is awarded to products developed and validated under a cybersecurity management system (CSMS). In May, the battery maker received CSMS level 3 certification, which is given to companies that demonstrate the ability to manage cybersecurity risks across automotive software and electronic components. “The certifications prove SK On’s technological leadership and robust management systems for both cybersecurity and functional safety,” said Ko Jeong-woon, head of system generic technology development at SK On. “We will continue to exp

Jul 10, 2025By Park Jae-hyuk
SK On gets cybersecurity certification for battery management system

PHOTO Domino’s bakes new summer pizza

Models pose with Domino’s Pizza’s new Lobster Shrimp Toowoomba pizzas, which the company is set to launch on Friday. The major delivery pizza franchise has begun promoting the new offering with Korean football star Son Heung-min, who plays for the English Premier League club Tottenham Hotspur. The Korean national team captain has been serving as the brand’s ambassador since last year. Courtesy of Domino’s Pizza

Jul 10, 2025By Ko Dong-hwanphoto
[PHOTO] Domino’s bakes new summer pizza

POSCO sells stake in Chinese stainless steel mill: sources

POSCO Holdings Inc., the holding company of Korea's leading steelmaker POSCO, has sold its entire stake in a Chinese stainless steel joint venture for around 400 billion won ($291 million), industry sources said Wednesday. According to the sources, POSCO Holdings had signed a preliminary deal to sell its 82.5 percent stake in the Zhangjiagang Pohang Stainless Steel (PZSS) steel mill to China's Qingshan Group, the No.1 stainless steelmaker there. PZSS, set up in China's eastern Jiangsu province in 1997, has an annual capacity of 1.1 million tons. Recently, the steel mill has been suffering losses due to oversupply and an economic slowdown in the world's No.2 economy.

Jul 9, 2025By Yonhap
POSCO sells stake in Chinese stainless steel mill: sources

GM Korea's union to launch partial strike this week as wage talks stall

The labor union of GM Korea the Korean unit of U.S. automaker General Motors, plans to stage a partial strike this week, as it has failed to narrow differences with management in ongoing wage negotiations, union officials said Wednesday. Unionized workers will stage two-hour walkouts across all shifts from Thursday to Friday, and expand them to four hours starting Monday. The union has also vowed to refuse overtime work. The decision came after the two sides failed to make a breakthrough during their 12th round of wage talks held earlier in the day at GM Korea's Bupyeong plant in Incheon, west of Seoul. The two sides are also at odds over the management's plan to sell GM's Korean service centers nationwide and unutilized facilities. The union has demanded the withdrawal of the asset sale plan as a precondition for the wage negotiations. The dispute comes amid mounting anxiety over the possibility that GM could reduce or eliminate its Korean manufacturing footprint if the United States maintains its 25 percent tariffs on auto imports. GM Korea exports approximately 410,000 vehicles annuall

Jul 9, 2025By Yonhap
GM Korea's union to launch partial strike this week as wage talks stall

BTS creator to face prosecution probe for defrauding investors

Financial authorities are planning to refer HYBE Chairman Bang Si-hyuk to prosecutors on charges of securities fraud, industry officials said Wednesday. Bang is alleged to have defrauded investors and pocketed about 400 billion won ($291 million) during the company’s initial public offering (IPO) process. The capital market investigation team, an advisory body under the Financial Services Commission's Securities and Futures Commission (SFC), held a meeting on Monday and decided to file a complaint with the prosecution against Bang. The team submitted its opinion to the SFC, which is expected to address the agenda at its meeting on July 16. Referral to the prosecution is the most severe action financial regulators can take against an individual suspected of violating the Capital Markets Act. Decisions made by the investigation team are rarely reversed. The Financial Supervisory Service (FSS) has been investigating Bang over allegations that he misled investors in 2019 by falsely claiming the company had no plans to go public. Investors who trusted Bang sold their shares to a private equit

Jul 9, 2025By Lee Yeon-woo
BTS creator to face prosecution probe for defrauding investors

LG launches upgraded pathology AI model

LG AI Research unveiled its next-generation medicine artificial intelligence (AI) model — the EXAONE Path 2.0 — as part of its push to revolutionize cancer diagnosis and drug development Wednesday. The AI research arm of LG Group launched the EXAONE Path 1.0 in August last year, which the company said represented a “significant advancement” in the use of multimodal AI in oncology. The new EXAONE Path 2.0 has been trained on high-quality data to analyze genetic mutations, expression patterns and subtle structural changes in human cells and tissues through pathology slide images, the AI lab said. This enables earlier cancer diagnosis and more accurate prognosis, thereby helping doctors set personalized treatment plans. It is also expected to be used for more efficient drug development. Leveraging multimodal data — including DNA, RNA and pathology images — the EXAONE Path 2.0 integrates high-resolution whole slide images (WSI), each comprising gigabytes of cellular data with multiomics information. Such images are traditionally broken into thousands of patches for analysis, which

Jul 9, 2025By Lee Min-hyung
LG launches upgraded pathology AI model

Kakao Group's economic effect estimated at $13.9 bil. in 2024

The total economic effect generated by Kakao Group last year is estimated at 19.1 trillion won ($13.9 billion), while the number of jobs created from group operations amounted to around 54,000, the group's holding company said Wednesday. According to Kakao, the cumulative economic effect of Kakao Group, Korea's top online messaging service operator, over the past three years totaled 51.4 trillion won, while job creations reached around 145,000. The analysis was reviewed and confirmed independently by three economic experts, including Kim Yong-gyu, professor emeritus at Hanyang University, the company said. In addition, Kakao's donation platform raised 93.6 billion won across some 19,000 fundraising projects since its launch in December 2007 through April this year. The company also said it revamped the framework of disclosing its social contributions by classifying social and economic value performances into 10 categories for increased transparency and accountability.

Jul 9, 2025By Yonhap
Kakao Group's economic effect estimated at $13.9 bil. in 2024

KG Mobility’s Actyon Hybrid SUV to intensify rivalry against Grand Koleos

KG Mobility’s Actyon Hybrid is set to deepen the model's rivalry against Renault Korea’s Grand Koleos, capitalizing on strong price competitiveness. The hybrid version of the mid-size SUV made its debut on Tuesday with a price tag of 36.95 million won ($27,000). The carmaker will sell the vehicle under the reasonably priced single trim. KG Mobility hopes to rev up its sales by jumping on the hybrid boom with the strategic new model. Given that most rival models in the segment sell at higher prices, the carmaker hopes to attract as many customers as possible who seek practical vehicles with competitive prices. The price of Renault Korea’s Grand Koleos hybrid SUV starts at a slightly higher 39 million won, so the vehicle is regarded as one of the biggest rivals to the Actyon Hybrid. The local subsidiary of the French carmaker has enjoyed dominance for the past year on the unexpectedly strong popularity of the hybrid SUV here. KG Mobility also hopes to build a stable source of revenue with the new hybrid. The Actyon Hybrid is the second hybrid launched under the brand, after the carmak

Jul 9, 2025By Lee Min-hyung
KG Mobility’s Actyon Hybrid SUV to intensify rivalry against Grand Koleos

Renault Korea accepting preorders for Scenic E-Tech EV

Renault Korea’s first strategic electric vehicle (EV) — the Scenic E-Tech — is now available for preorders ahead of its official market debut in August, the carmaker said Wednesday. The vehicle is equipped with a high-performance 87-kilowatt-hour (kWh) nickel manganese cobalt (NCM) battery from LG Energy Solution. This enables the EV to drive up to 460 kilometers on a single charge, making it an ideal fit for those seeking a compact family SUV with balanced features. The family-purpose EV boasts a spacious, flat-floor interior with 884 millimeters of headroom size. Folding the second-row seats opens as much as 1,670 liters of cargo space, according to the company. The vehicle also contains a series of premium features, such as the “Ingenius” rear armrest designed for mobile device use and the "Solarbay" panoramic sunroof. The 1.65 square-meter glass roof is made from 50 percent recycled glass and can be adjusted to transparent or opaque settings for each of its front or rear rows. This helps passengers enjoy customizable lighting and privacy. Sustainability is also another key

Jul 9, 2025By Lee Min-hyung
Renault Korea accepting preorders for Scenic E-Tech EV
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