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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.

US ups pressure on Korea’s platform law as tariff deadline looms

President Lee Jae Myung’s pledge to regulate monopolistic online platforms has emerged as a key sticking point in ongoing trade talks between Korea and the United States ahead of the July 8 deadline — the day the pause on U.S. “reciprocal" tariffs is set to end. While tech giants urge Korea to reconsider the Online Platform Act, U.S. government officials and lawmakers are calling the plan a nontariff barrier. Earlier this week, Republican Reps. Adrian Smith and Carol Miller said they led 41 colleagues in sending a letter to U.S. Trade Representative Jamieson Greer, Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick. In the letter sent Tuesday, the lawmakers — including Korean American Rep. Young Kim — urged the Donald Trump administration to address what they called the Korean government’s “unfair” barriers targeting American digital services providers. “One barrier that we urge you to address in any negotiations is proposed legislation advanced by the Korea Fair Trade Commission and embraced by the new Lee Jae Myung government which disproportio

Jul 3, 2025By Park Jae-hyuk
US ups pressure on Korea’s platform law as tariff deadline looms

Imported car sales rise 9.9% in first half of the year on new models

Sales of imported vehicles in Korea rose 9.9 percent in the first half from a year earlier, driven by strong demand for newly launched models, industry data showed Thursday. The number of newly registered imported cars reached 138,120 units in the January-June period, up from 125,652 a year ago, according to the Korea Automobile Importers & Distributors Association (KAIDA). "The first-half result was boosted by robust sales of new models, such as the Tesla Model Y, Volvo's all-electric EX30 compact sport utility vehicle (SUV), Porsche's all-electric Macan SUV and Lexus' LX SUV," a KAIDA official said. In a notable development, Chinese electric vehicle (EV) maker BYD Co. became an official member of the association in March as it seeks to expand its presence in Asia's fourth-largest economy. BYD began selling passenger vehicles in Korea in January, starting with the Atto 3 compact SUV. Two additional models — the midsize Seal sedan and the midsize Sealion 7 SUV — are scheduled for release later this year. In June, registrations of imported cars climbed 9.8 percent to 27,779 units from

Jul 3, 2025By Yonhap
Imported car sales rise 9.9% in first half of the year on new models

InterviewPernod Ricard uncovers surprising parallels between Scotland and Jeju’s haenyeo culture

Introducing an imported liquor brand to consumers involves far more than simply advertising it, placing it on shelves and waiting for sales to rise, according to Frantz Hotton, CEO of Pernod Ricard Korea, a leading importer of spirits and wine. To create a deeper, more lasting impact in the market, the brand must be supported by sophisticated, captivating marketing that leaves a memorable impression on consumers. For Hotton, winning over Korean consumers isn’t about imposing globally renowned brands upon them. Instead, it’s about approaching the market with humility — finding common ground with local consumers and demonstrating how these brands can seamlessly integrate into Korean society in a mutually beneficial way. The strategy proved effective when Hotton set out to introduce Aberlour — a Scotch whisky brand first launched in the 1880s and now owned by the Pernod Ricard Group — to the Korean market. Rather than rushing the process, he took time to find a meaningful cultural connection between Scotland and Korea. He discovered a compelling parallel: Both Scotch whisky maker

Jul 3, 2025By Ko Dong-hwan
Pernod Ricard uncovers surprising parallels between Scotland and Jeju’s haenyeo culture

Google sees room for AI growth in S. Korea's mature tech market: official

Google's diversified artificial intelligence (AI) tools, designed to support human creativity through multilingual and multicultural models, are well-positioned to thrive in Korea's mature and tech-savvy market, a senior official from the U.S. tech giant said Wednesday. "It is very early days. I think there is still so much scope, so much room. I also feel that there are so many more products to discover that can deliver value to users in so many different ways," Simon Tokumine, director at Google Labs, said in a press conference ahead of the Google for Korea event in Seoul. Tokumine was responding to a question about Google's strategy to improve its relatively low market share in Korea's generative AI space, which is currently dominated by OpenAI's ChatGPT. He noted that Korea has played a key role in previous technological revolutions, such as the rise of the internet and the global spread of smartphones. "Many of you in Korea are very familiar with this," he said, referring to the smartphone-driven tech boom. "You've got some incredible homegrown companies that are huge in that area."

Jul 2, 2025By Yonhap
Google sees room for AI growth in S. Korea's mature tech market: official

Hyundai, Kia's US sales growth rate slows in June amid tariff concerns

Hyundai Motor and its smaller affiliate Kia said Wednesday their combined vehicle sales in the United States rose 0.9 percent in June from a year earlier, with growth slowing from the previous month amid ongoing concerns over U.S. auto tariffs. The two automakers sold a total of 140,374 vehicles in the U.S. last month, slightly up from 139,179 units a year earlier, according to company sales data. In May, their U.S. sales were up 6.7 percent from a year ago. Hyundai's sales rose 4.5 percent on-year to 76,525 units from 73,250, while Kia's declined 3.2 percent to 63,849 units from 65,929. Hyundai's figures include sales of its independent luxury brand, Genesis. The companies said sales were driven by steady demand for gasoline hybrid models, recreational vehicles, and Genesis-brand sport utility vehicles (SUVs) in the world's largest car market. In the January-June period, combined U.S. sales climbed 9.2 percent on-year to 893,152 units from 817,804 a year earlier. Hyundai's sales rose 10.5 percent to 476,641 units from 431,344, while Kia's grew 7.8 percent to 416,511 from 386,460. Kia post

Jul 2, 2025By Yonhap
Hyundai, Kia's US sales growth rate slows in June amid tariff concerns

GS Group explores opportunities in AI transformation

GS Group is stepping up efforts to explore opportunities in artificial intelligence (AI) transformation, holding an event to share practical applications and actionable insights with its affiliates. According to GS Wednesday, the company held its third GS GenAI Connect Day event at its headquarters in Gangnam District, Seoul, Tuesday. The GS GenAI Connect Day is aimed at building an AI collaboration ecosystem among affiliates. The latest event was themed “The Present and Future of AI Agents.” AI agents refer to systems that can perform specific tasks automatically without human intervention. They are gaining greater attention as more companies are proactively adopting AI technologies to improve operational efficiency and drive business innovation. Unlike previous editions that focused on conceptual approaches or broad strategies, Tuesday’s event concentrated on practical applications and actionable agendas, GS Group said. Along with GS Group’s AI transformation leaders, experts from Microsoft and various U.S. startups joined the event. The event is part of GS Group’s all-out eff

Jul 2, 2025By Nam Hyun-woo
GS Group explores opportunities in AI transformation

Lotte India's merger with Havmor takes on world's largest market

Lotte Wellfood said Wednesday it has completed the merger of its two Indian subsidiaries — Lotte India and Havmor Ice Cream — in a move expected to serve as a stepping stone for the confectionery and food arm of Lotte Group to accelerate its "One India" strategy in the world’s most populous nation. The consolidation was carried out in the form of Lotte India absorbing Havmor. Havmor, one of India’s major ice cream brands, was acquired by Lotte Wellfood in 2017. Despite the merger, Havmor will continue to operate as a standalone brand, maintaining its ice cream business, while complementing Lotte India’s Korean ice cream and snack manufacturing operations with enhanced capabilities and brand strength, according to Lotte. With the merger, Lotte Wellfood seeks to expand its reach across India more efficiently. Since its establishment in 2004, Lotte India has operated primarily in Chennai, Tamil Nadu, in the south, and in the state of Haryana in the north. Havmor, founded in 1944, is based in the western state of Gujarat, where it has a strong regional presence. The merger enables

Jul 2, 2025By Ko Dong-hwan
Lotte India's merger with Havmor takes on world's largest market

PHOTO Cosmax, Eurofins form strategic partnership in cosmetics clinical testing

Park Sae-rom, right, manager of the Human Skin Research Team of the R&I Center at Cosmax, poses with Yann Agustin, global cosmetics and personal care leader at Eurofins, after signing a memorandum of understanding for a strategic partnership in the cosmetics clinical testing sector in Lyon, France, June 18. Cosmax, a leading original development manufacturing company, expects the partnership to help further expand the global presence of Korean beauty products. Founded in 1987, Eurofins provides clinical testing services across the food, environmental, medical and cosmetic sectors, operating more than 950 facilities worldwide. The partnership comes as Korean beauty products continue to gain popularity beyond Asia, particularly in Europe, the Middle East and North America. Courtesy of Cosmax

Jul 2, 2025By Ko Dong-hwanphoto
[PHOTO] Cosmax, Eurofins form strategic partnership in cosmetics clinical testing

Anti-nuclear activists oppose industry minister nominee

Calls are growing among anti-nuclear civic groups and environmental activists to reconsider the nomination of Doosan Enerbility President Kim Jung-kwan as the Lee Jae Myung administration's first minister of trade, industry and energy. Critics are expressing concerns that Kim may slow Korea's nuclear power phase-out and transition to renewable energy, as Doosan Enerbility is a major supplier of equipment for nuclear power plants and is participating in a project to build new reactors in the Czech Republic. A day after the presidential office announced his nomination, 10 anti-nuclear civic groups issued a joint statement urging the administration to retract the decision to appoint Kim, who previously served as a finance ministry official for two decades before joining Doosan. “Kim has led Doosan Enerbility's nuclear power business, including projects involving small modular reactors,” the statement said. “We question whether his career aligns with energy transition policies for carbon neutrality, as his nomination appears to signal the government's intention to return to a nuclear-

Jul 2, 2025By Park Jae-hyuk
Anti-nuclear activists oppose industry minister nominee

SK heir joins McKinsey

The world’s three largest business consulting firms — McKinsey & Company, Bain & Company and Boston Consulting Group — seem to be serving as training grounds where heirs of Korea’s family-controlled conglomerates acquire essential management skills. According to industry officials Wednesday, Chey In-keun will join McKinsey’s Seoul office on Thursday after leaving SK Innovation E&S, the group’s energy affiliate, where the 30-year-old son of SK Group Chairman Chey Tae-won previously worked for PassKey, the group’s North American subsidiary. He is expected to follow in the footsteps of his oldest sister, SK Biopharmaceuticals Vice President Chey Yoon-chung, who joined the group’s biopharmaceutical unit as a team leader in 2017 after working at Bain for two years. Given that the SK chairman’s three other children are daughters, there is speculation that he may have advised his son to join the consulting firm to prepare for a future transfer of group leadership. Heirs of other family-controlled conglomerates, such as HD Hyundai, BGF and AmorePacific, have also gained experie

Jul 2, 2025By Park Jae-hyuk
SK heir joins McKinsey
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