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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.

AliExpress tops 9 mil. monthly users in Korea

AliExpress has solidified its presence in the Korean market, surpassing 9 million monthly active users as of June, the Chinese e-commerce giant said Wednesday. Citing data released Tuesday by retail analytics firm WiseApp Retail, the company said it has continued steady growth in Korea, reaching an all-time high for monthly active users. AliExpress has recently expanded its local customer base through a series of seasonal promotions while strengthening consumer-friendly benefits. Its appeal to Korean users is attributed not only to competitive pricing but also to its broad product range, fast delivery, easy payment system and 24/7 customer service — all tailored to the local market. The company has also enhanced its travel-related offerings through AliExpress Travel, a one-stop platform where users can book flights, accommodations and attraction tickets, further improving its value proposition to Korean consumers. “Thanks to the trust and support of Korean consumers, our user base continues to grow steadily,” said Ray Zhang, general manager of AliExpress Korea. “We will continue

Jul 2, 2025By Ko Dong-hwan
AliExpress tops 9 mil. monthly users in Korea

Audi unveils A5, Q5

The new Audi A5, left, and Q5 are showcased during a launch event at the Conrad Seoul, Tuesday. The event followed Audi Korea’s January announcement of its plan to roll out a record 16 new models in the country this year in a bid to regain market presence and boost sales after years of declining profits. Courtesy of Audi Korea.

Jul 1, 2025By Kang Seung-woophoto
Audi unveils A5, Q5

Shares of holding firms soar on planned passage of Commercial Act revision

Shares of major conglomerate holding companies surged Tuesday amid growing investor optimism over the expected passage of a revision to the Commercial Act under the new administration, according to industry officials. According to the Korea Exchange, shares of HS Hyosung on the country's main bourse, KOSPI, soared to 91,600 won ($68), marking a 29.93 percent increase from the previous day's close. Shares of other conglomerate holding companies also posted strong gains. Hanwha Corp. — the de facto holding company of Hanwha Group — jumped 15.38 percent to close at 108,800 won, while Lotte Corp. climbed 8.45 percent to 30,150 won. The Commercial Act revision aims to expand corporate directors' fiduciary duties to include greater responsibility toward shareholders. It was passed in the National Assembly on March 13 with the unilateral endorsement of the then-opposition Democratic Party of Korea (DPK), but was vetoed by then-acting President Han Duck-soo on April 1 and subsequently scrapped following another vote. President Lee Jae Myung, elected on the DPK ticket, had pledged during his ca

Jul 1, 2025By Jun Ji-hye
Shares of holding firms soar on planned passage of Commercial Act revision

HS Hyosung marks 1st anniversary

HS Hyosung celebrated its first anniversary on Tuesday, describing the past 12 months as a period of venturing into building a new company. According to the group, Vice Chairman Cho Hyun-sang and approximately 200 HS Hyosung employees attended the anniversary ceremony at its headquarters in Mapo District, Seoul, Monday. “What we have done in the past year was not just business activity, but the very act of founding a company from scratch,” Cho said during the ceremony. “All employees are HS Hyosung’s leaders and founders, and we will maintain this founding spirit and continue building a greater legacy.” HS Hyosung was established through a spin-off from Hyosung Group on July 1 last year. Hyosung Group is led by Cho’s older brother, Chairperson Cho Hyun-joon. Through a reorganization of the family’s shareholdings, the two groups are now separate entities. “With the emergence of artificial intelligence (AI) and other advanced technologies, the upcoming competition will be about depth,” he said. “Through our strengthened R&D (research and development) efforts, let’s bu

Jul 1, 2025By Nam Hyun-woo
HS Hyosung marks 1st anniversary

IVE's Jang Won-young to Promote P&G Korea’s new Downy edition

Jang Won-young, a popular member of the K-pop girl group IVE, has been named the new ambassador for P&G Korea’s flagship fabric softener brand Downy, the household goods company announced Tuesday. Jang took the role on the same day as the company launched a new Downy edition. According to P&G Korea, the new softener delivers a sun-dried freshness to laundry, providing convenience for those without a veranda or outdoor space to dry their clothes. The company said it chose Jang for her image, which aligns well with Downy’s brand identity of delivering a refreshing feeling from freshly laundered clothes. “Whenever I saw Downy, I always associated it with a refreshing scent. That image resonates with how I try to bring positive energy to my fans. I’m grateful to have the opportunity to represent the brand,” Jang said. The company expects the K-pop megastar to help promote the new Downy product’s sun-dried refreshing effect, hoping to provide relief during the sweltering summer heat currently sweeping the country. “An increasing number of modern households, especially single-pers

Jul 1, 2025By Ko Dong-hwan
IVE's Jang Won-young to Promote P&G Korea’s new Downy edition

Hanwha Ocean to build next-gen icebreaking research vessel for polar missions

Hanwha Ocean said Tuesday it has been selected as the preferred bidder to construct Korea's next-generation icebreaking research vessel, which is expected to significantly enhance the country's polar exploration capabilities. The shipbuilder was selected as the preferred bidder for the project led by the Ministry of Oceans and Fisheries, which aims to develop an advanced research vessel capable of navigating extreme polar conditions. The new icebreaker, scheduled for delivery by December 2029, will enter the design phase after the main contract is signed later this month. It will serve as a successor to the Araon, Korea's first icebreaking research vessel launched in 2009, and is expected to support polar research in response to accelerating environmental changes and strengthened eco-friendly regulations. At 16,560 tons, the new vessel will be more than twice the size of the Araon and will feature a dual-fuel liquefied natural gas (LNG) electric propulsion system, enabling it to break through ice up to 1.5 meters thick in both forward and reverse directions. The vessel will also be capab

Jul 1, 2025By Yonhap
Hanwha Ocean to build next-gen icebreaking research vessel for polar missions

InterviewNew Murabba CEO confident in Korean firms’ role in Riyadh megaproject

New Murabba Development Company CEO Michael Dyke is expressing confidence in the technological capabilities of Korean firms as the company advances its ambitious task of building a new downtown area in Riyadh from scratch, a project characterized as “beyond anyone’s imagination." The New Murabba project, part of Saudi Arabia’s Vision 2030, is a transformative megaproject led by the company under the direction of Crown Prince Mohammed bin Salman. The 14-square-kilometer smart city, anchored by the Mukaab — a massive cube-shaped structure that dominates the site — is designed as the pinnacle of a futuristic city, excelling in everything from public transportation and telecommunications to water treatment, entertainment and environmental sustainability. Dyke, trusting in the 60 years of diplomatic history between Saudi Arabia and Korea, which has evolved into deep industrial partnerships, visited Seoul earlier this week to promote the project and attract Korean companies. For him, it feels natural to partner with Korean companies since they have already executed major projects acr

Jul 1, 2025By Ko Dong-hwan
New Murabba CEO confident in Korean firms’ role in Riyadh megaproject

Over 660,000 mobile carrier subscriptions switched in June amid SKT breach incident: data

More than 660,000 people switched their mobile carriers to a different company in June, with LG Uplus attracting the most users, two months after a major data breach hit industry leader SK Telecom, data showed Tuesday. According to data from the Korea Telecommunications Operators Association, a total of 666,618 mobile number portability (MNP) transfers were recorded last month, down 42 percent from 920,000 a month earlier. Despite the on-month decline, the June figure remains well above the pre-breach monthly average of around 500,000 prior to April, when a cyberattack on SK Telecom's servers was revealed and triggered a wave of subscriber departures. LG Uplus, Korea's No. 3 carrier, gained 87,000 people from SK Telecom in June, while No. 2 player KT drew 82,000 former SK Telecom users. In May, KT had led the shift with about 200,000 MNP transfers from SK Telecom, ahead of LG Uplus with 160,000. In contrast, SK Telecom, which resumed new subscription services last month after a two-month ban, received 32,000 transfers from KT and 38,000 from LG Uplus in June.

Jul 1, 2025By Yonhap
Over 660,000 mobile carrier subscriptions switched in June amid SKT breach incident: data

SBS partners with MD Entertainment to tap into Southeast Asian market

SBS said Tuesday it has made a strategic $20 million investment in leading Indonesian media firm MD Entertainment. The deal was made through a new share issuance where SBS acquired rights from MD's largest shareholder at a discounted price, according to SBS. The transaction was approved by Indonesia's financial regulators on Wednesday. Upon completion, SBS will hold a 3.8 percent ownership stake in the Jakarta-based company. SBS said the move is a key part of its new growth strategy to bolster international partnerships and establish a crucial base in the Southeast Asian content market. Established in 2002, MD Entertainment is one of Indonesia's largest media and production companies.

Jul 1, 2025By Yonhap
SBS partners with MD Entertainment to tap into Southeast Asian market

Samsung SDI marks 55 years with CEO’s bold pledge

Vowing to “take a greater leap forward” amid mounting challenges, Samsung SDI CEO Choi Joo-sun pledged Tuesday to lead the company through turbulent times as the battery maker celebrated its 55th anniversary. “It is said that one’s true competence is revealed when circumstances become more difficult,” Choi said during a ceremony marking the anniversary at its headquarters in Giheung, Gyeonggi Province. “I believe in our competence and potential. If we come together as one, we can take a greater leap forward.” Acknowledging recent challenges in the internal and external business environment, Choi said, “Recently, I often have trouble sleeping at night. When I think of the reality we face, I sometimes feel shivers down my spine.” Choi, who took on the role in November 2024, stressed the need for the company to restore competitiveness in manufacturing, stabilize its electrode, assembly and pack technologies and ensure the success of new ventures in the electronic materials sector. “The market is subject to continuous change,” Choi said. “To take one step forward, it i

Jul 1, 2025By Park Jae-hyuk
Samsung SDI marks 55 years with CEO’s bold pledge
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