my timesThe Korea Times
Business

Companies

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Celltrion Holdings to spend $366 mil. to boost corporate value

Celltrion Holdings, the holding company of Celltrion Group, a leading South Korean pharmaceutical conglomerate, said Friday it will purchase 500 billion won ($366 million) worth of Celltrion Inc. shares to bolster the flagship affiliate's corporate value. The holding firm plans to begin buying shares during trading hours in August and complete the purchase within the year, it said in a press release. "This investment in Celltrion shares aims to enhance Celltrion Holdings' profitability, given the affiliate's strong growth potential and increasing dividends," the company said. The move is part of a broader plan to inject up to 1 trillion won to enhance the holding firm's profitability and boost shareholder value at its main affiliate, it added. Celltrion Holdings said it also plans to use part of the funds to acquire a high-value company — either domestic or overseas — as part of efforts to reorganize its business portfolio and transition from a pure holding company into an operating holding firm. Celltrion shares have fallen 8.1 percent this year through Thursday, weighed down by unce

Jul 4, 2025By Yonhap
Celltrion Holdings to spend $366 mil. to boost corporate value

Louis Vuitton Korea reports data breach amid wave of cyberattacks on luxury brands

Louis Vuitton has become the latest luxury brand in Korea to suffer a data breach, according to the company Friday, following recent similar cases involving Dior, Tiffany and Cartier in the country. In a notice posted on its website, Louis Vuitton Korea informed customers that a third-party entity temporarily accessed the company's systems on June 8 and leaked some customer information. The company said it has learned of the incident Wednesday. The compromised data may include customer names, contact details and additional information provided by customers, Louis Vuitton said, but stressed that no financial data, such as passwords and credit card numbers, was affected. The incident is the latest in a string of high profile data leaks in the luxury sector in Korea this year. In May, Dior apologized after discovering a data breach incident that occurred in January. Tiffany also revealed in May that it had suffered a breach in April. Cartier notified customers last month about a separate incident involving leaked personal information. Must It, a popular luxury goods e-commerce platform in Kor

Jul 4, 2025By Yonhap
Louis Vuitton Korea reports data breach amid wave of cyberattacks on luxury brands

Utility stocks surge on expectations for rate hikes after passage of revised Commercial Act

Shares of Korea Electric Power Corp. (KEPCO) and Korea Gas Corp. (KOGAS) have soared amid expectations of utility rate hikes following the National Assembly's passage of a revised Commercial Act, industry officials said Friday. According to the Korea Exchange, shares of KEPCO and KOGAS closed at 36,900 won ($27.10) and 47,350 won, respectively, Friday, up 2.79 percent and 8.11 percent from the previous trading day. Both stocks jumped as much as 8 percent during intraday trading, but KEPCO trimmed its gains by the close. The surge of the state utilities is seen as a response to growing expectations that the government may no longer be able to keep electricity and gas rates artificially low. Until now, the government — the majority shareholder in both firms — has capped public utility rates as a way to curb inflation and support low- and middle-income households, despite soaring global energy prices. Since the second quarter of 2023, rates have been frozen for eight consecutive quarters. As a result, KEPCO has accumulated 200 trillion won in debt and recorded deficits totaling 30 trill

Jul 4, 2025By Lee Yeon-woo
Utility stocks surge on expectations for rate hikes after passage of revised Commercial Act

Jipyeong transforms century-old makgeolli brewery into modern gallery

JIPYEONG, Gyeonggi Province — Jipyeong Brewery, a historic brewery founded in 1925 that stopped operations six years ago, has opened a new gallery with artefacts preserved from its days brewing makgeolli, an unfiltered alcoholic drink usually made from rice. The gallery’s opening follows the launch of the company’s new manufacturing plant in Chuncheon, Gangwon Province, in 2018, and another in Cheonan, South Chungcheong Province, in 2023, to meet growing demand for its makgeolli. With these modern facilities taking over production, the brewery in the village of Jipyeong in Yangpyeong County, Gyeonggi Province, was repurposed into a gallery. The company said the transformation was aimed at sharing its century-old history with the broader public. The gallery, which offers free admission, preserves the brewery’s original tools and equipment and revives the traditional methods once used to make makgeolli. Located in a colonial period building, it features four rooms, each representing a different stage in the makgeolli-making process. Established during the 1910-45 Japanese colonial

Jul 4, 2025By Ko Dong-hwan
Jipyeong transforms century-old makgeolli brewery into modern gallery

Korea ranks 2nd in global shipbuilding orders in June

Korea ranked second in new global shipbuilding orders in June, industry data showed Friday. Korean shipyards clinched orders totaling 1.05 million compensated gross tons (CGTs) for eight ships, accounting for 41 percent of the global total at 2.56 million CGTs last month, according to London-based Clarkson Research Services. China ranked first, taking up 53 percent of the global total. In terms of order backlog, China ranked first with 96.82 million CGTs, or 59 percent of the global total of 163.37 million CGTs as e end of June, with South Korea trailing in second with 35.42 million CGTs, accounting for 22 percent of the total. Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, came to 187.11 last month, up 0.42 point from a year ago.

Jul 4, 2025By Yonhap
Korea ranks 2nd in global shipbuilding orders in June

Investors increase holdings in entertainment stocks amid K-pop comeback hopes

Major foreign and institutional investors are rushing to significantly increase their holdings in key entertainment firms, buoyed by expectations of comebacks from top K-pop groups including BTS and BLACKPINK, and overall growing optimism over Korea-China relations, market watchers said Thursday. Foreign and institutional investors, including the National Pension Service (NPS), are leading the rally. Foreign investors and institutional investors bought 327.1 billion won ($240 million) and 19.9 billion won of SM Entertainment shares, respectively. The former also bought 158.4 billion won of HYBE shares and the latter 157.6 billion won. The NPS bought 390,182 shares of YG Entertainment, increasing its stake to 7.24 percent, up from 5.15 percent. Earlier in May, the pension fund also bought 48,532 shares of JYP Entertainment. Analysts say the increase in holdings is attributed to the entertainment agencies’ solid fundamentals and strong earnings expected in the months to come. Revenue will be bolstered due to income from concerts and album sales, certain to rise since BTS member Suga complet

Jul 3, 2025By Lee Kyung-min
Investors increase holdings in entertainment stocks amid K-pop comeback hopes

Kolmar vice chairman faces uphill court battle against father

Kolmar Holdings Vice Chairman Yoon Sang-hyun, the eldest son of founder and chairman Yoon Dong-han, is facing an uphill court battle against his father after a court ruled that the son could not sell the shares his father gifted him, according to industry officials and legal sources, Thursday. The family feud deepens a controversy surrounding the cosmetics manufacturer’s management transparency and governance, which has long prioritized the private interests of the owner family at the expense of minor shareholders. At stake are downgrades in the firm's environmental, social and governance (ESG) ratings and subsequent lower corporate value, compounded further by questions about the independence of its board. On June 27, Seoul Central District Court found in favor of Yoon Dong-han, who filed an injunction to have his son Yoon Sang-hyun's share sales withheld. The chairman, who founded Kolmar Korea in 1990, filed a lawsuit against his son on May 30, seeking the return of 2.3 million shares in the holding company that he had gifted to his son in 2019. The 2.3 million shares have since doubl

Jul 3, 2025By Lee Kyung-min
Kolmar vice chairman faces uphill court battle against father

SME minister nominee to sell entire $1.69 million stake in Naver

Han Seong-sook, the nominee for the minister of small and medium-sized enterprises (SMEs) and startups, has decided to sell her 2.3 billion-won ($1.69 million) stake in Naver, where she previously served as chief executive officer (CEO), once she takes office, government sources said Thursday. She currently holds nearly 9,000 shares in the country's largest internet company, according to the sources. She also plans to sell shares in Hyundai Motor and Samsung Electronics held by her mother, bringing the total value of her planned divestment to 2.56 billion won. The move comes in line with regulations requiring high-ranking government officials to sell stocks worth more than 30 million won or place them in a blind trust within two months after taking office to prevent possible conflicts of interest between public duties and personal assets. Han is also believed to own foreign stocks in Tesla and Apple, as well as exchange-traded funds (ETFs), but those are not subject to mandatory divestment under current rules. Han served as CEO of Naver from 2017-2022. She was tapped last month to become t

Jul 3, 2025By Yonhap
SME minister nominee to sell entire $1.69 million stake in Naver

Hyundai Glovis signs renewable energy deal with Hyundai E&C

Hyundai Glovis, Korea’s leading logistics and shipping company, has partnered with Hyundai E&C to power its domestic and international operation bases with a substantial amount of renewable energy, aiming for emission-free operations. According to the Hyundai Motor Group subsidiary Thursday, it has signed a long-term solar power supply agreement with the construction giant Hyundai E&C, covering a total volume of 127 gigawatt hours. This amount of energy is enough to power approximately 35,000 four-person households for an entire year. The deal is a virtual power purchase agreement (VPPA), under which a company can indirectly invest in renewable energy-based power. Hyundai Glovis said VPPA is a common type of power supply deal among companies in the United States and Europe which have committed to RE100 — a global initiative bringing together the world's most influential businesses committed to using 100% renewable electricity in their operations. Under the deal, Hyundai Glovis will place orders of renewable energy-based power generation with Hyundai E&C. The construction firm, in tu

Jul 3, 2025By Ko Dong-hwan
Hyundai Glovis signs renewable energy deal with Hyundai E&C

Samyang Foods begins construction of 1st overseas plant in China

Samyang Foods, maker of the globally popular Buldak spicy ramyeon, said Thursday it has begun construction of its first overseas production facility in China to meet growing demand for its signature product. The company will invest 201.4 billion won ($148 million) in the new plant, which will be located in Jiaxing City, Zhejiang Province, and have an annual production capacity of 840 million Buldak spicy ramyeon products, it said in a press release. Construction is scheduled for completion in January 2027, with the plant set to supply products primarily for the local Chinese market. "Once the facility is operational, Samyang's total annual production capacity of Buldak spicy ramyeon across all production sites will rise to 3.5 billion units," the release said. The company currently operates three plants in Korea and maintains overseas operations in China, Japan, Indonesia, the Netherlands and the United States. In 2024, Samyang's sales surged 45 percent on-year to 1.73 trillion won, driven by strong demand for its Buldak series, particularly in the U.S. and China. Last year, the company's

Jul 3, 2025By Yonhap
Samyang Foods begins construction of 1st overseas plant in China
previous page
250251252253254
next page

Most Read in Business