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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.

Hyundai Steel opens converged media platform

Hyundai Steel has opened its official media website, called the Moment, in hopes of improving its brand awareness with the consolidated digital platform, the steelmaker said Monday. The new media room will serve as a content hub for the company, encompassing all of its digital content, including YouTube videos, Instagram images and all other promotional videos. The company launched the converged online platform with a view to delivering a consistent brand message and improving clients’ access to its corporate and steel-related information. Visitors can easily explore a wide array of stories related to the firm’s products, technologies, and environmental, social and corporate governance (ESG) initiatives through the intuitive and unified interface, the company said. The new website has broken with the typically conservative image of the steel industry by adopting a bold user interface approach. This reflects Hyundai Steel’s forward-looking vision and commitment to innovation, the company said. Key features for the online platform include a tag-based content classification system, int

Jul 1, 2025By Lee Min-hyung
Hyundai Steel opens converged media platform

KAI CEO Kang to step down 3 months before end of term

Kang Goo-young, president and chief executive officer (CEO) of Korea Aerospace Industries (KAI) Ltd., will step down this week, about three months ahead of the official end of his term, industry sources said Monday. Kang plans to resign from the CEO position of the Korean aerospace and defense systems manufacturer on Tuesday, according to the sources. He reportedly offered his resignation to the state-run Korea Export-Import Bank of Korea, KAI's largest shareholder, on June 4, which marked the first official day of Korea's new administration under President Lee Jae Myung. Kang, a former Air Force commander, has since been overseeing key business matters and preparing for the company's leadership transition, according to the sources. Appointed in September 2022 under the previous Yoon Suk Yeol administration, Kang's three-year term was originally set to end in September. The early departure is seen as intended to facilitate a smooth leadership transition under the new government. KAI is expected to operate under an acting CEO system until a new chief is appointed.

Jun 30, 2025By Yonhap
KAI CEO Kang to step down 3 months before end of term

ExclusiveICGN to host governance forum in Korea in 2026

The International Corporate Governance Network (ICGN) will host a full-day forum in Seoul next spring, encouraged by the new government's efforts to improve governance practices and the resulting enthusiasm from investors. "We think it is a very exciting time for corporate governance here in Korea," ICGN CEO Jen Sisson told The Korea Times in a recent written interview. "It is great to see the energy and enthusiasm from standard setters, the Korea Exchange, banks, investors and companies — there is a real sense of momentum." Established in 1995, the ICGN influences policymaking in countries and international organizations such as the OECD and the World Bank through governance-related recommendations. Influential investors such as the California Public Employees' Retirement System and Japan's Government Pension Investment Fund are among its members, who collectively manage over $90 trillion in assets. From Korea, the National Pension Service and Align Partners are participating. Sisson visited Korea last week to participate in governance-related conferences and held a series of meetings

Jun 30, 2025By Lee Yeon-woo
ICGN to host governance forum in Korea in 2026

New T’way CEO faces call to restore safety, regain customer trust

T’way Air’s newly appointed CEO, Lee Sang-yoon, faces the critical task of restoring the airline’s tainted reputation as a low-cost carrier plagued by safety concerns and frequent flight delays. Under the leadership of former CEO Jeong Hong-gun, T’way achieved robust earnings growth in recent years, driven by his exceptional sales acumen. Jeong, considered one of the nation’s most experienced aviation sales experts, built his sales career at Korean Air and Jin Air before joining T’way. The sales-focused strategy was successful, with the airline reporting outstanding sales growth over the past two years. In 2022, the carrier posted 525.8 billion won ($387.8 million) in sales in 2022, but the figure surged to more than 1.5 trillion won as of last year. However, the airline has faced criticism that its earnings growth came at the cost of proper safety management. In May, the Ministry of Land, Infrastructure and Transport imposed a fine of 2.6 billion won on T’way Air for failing to comply with aviation regulations related to engine maintenance. According to ministry data, T’

Jun 30, 2025By Lee Min-hyung
New T’way CEO faces call to restore safety, regain customer trust

Emart24 enters convenience store market in India

Convenience store chain Emart24 has officially entered the Indian market, setting its sights on the world’s most populous country with over 1.4 billion people. The subsidiary of retail giant Emart signed a brand licensing agreement Monday with Jung Brothers Hospitality CEO Peter Jung — a first-generation Korean entrepreneur active in India — and local real estate developer Solitaire Group. The signing ceremony took place at Emart24’s headquarters in Seoul. Under the agreement, Emart24 will debut its first Indian store in Pune, Maharashtra Province in August. A second store is planned for October, with the location yet to be decided. Solitaire Group will provide its business infrastructure to support the store launches, while Jung will contribute his operational expertise, drawn from running 28 franchise outlets in Pune, including the popular Café Peter chain. Pune has never hosted a Korean convenience store brand until now. Ranked No. 1 out of 111 cities in the Indian government’s Ease of Living Index, the city is recognized as an economic hub alongside Mumbai. It is also home

Jun 30, 2025By Ko Dong-hwan
Emart24 enters convenience store market in India

Shin Ramyun hits US military base in Texas

Nongshim’s iconic Shin Ramyun has officially landed at a U.S. military base, reflecting the growing global appetite for Korean instant noodles. Korea's leading instant noodle maker said Monday its flagship ramyeon is now available at Fort Bliss in El Paso, Texas, through a partnership with Cupbop, a Korean food franchise based in the United States, as part of its global initiative to expand Shin Ramyun’s presence in the global market. Fort Bliss is one of the largest U.S. military bases. In addition to the original Shin Ramyun, two variants, Shin Ramyun Toomba and Soon Veggie Ramyun, are also available at the Cupbop restaurant located inside the base. Starting with Fort Bliss, Nongshim plans to expand its offerings to other Cupbop branches within major U.S. military bases, including Joint Base Elmendorf-Richardson in Alaska and Luke Air Force Base in Arizona. Through this initiative, the company aims to reinforce Shin Ramyun’s image as a “deliciously spicy” product among U.S. military personnel and further establish its identity as a global brand. “U.S. military personnel come

Jun 30, 2025By Ko Dong-hwan
Shin Ramyun hits US military base in Texas

GS25, Shinsegae launch 'Squid Game' pop-up stores, exclusive tie-in goods

Major Korean retailers have launched special pop-up stores and exclusive tie-in merchandise in collaboration with the newly released third season of Netflix's hit series "Squid Game," according to industry officials Monday. GS25, the convenience store chain operated by GS Group, has partnered with Netflix to showcase new collaborative products at a pop-up exhibition in Seoul's Gwanghwamun Square running through Friday. As Netflix's official partner, GS25 is featuring items inspired by key characters, such as the show's iconic Young-hee doll and a new doll character named Cheol-soo. Items include a 2-meter-long jump rope jelly and a cookie inspired by the "Dalgona" treat featured in the show's first season. GS25's past collaborations with Netflix have recorded cumulative sales of 75 billion won ($55 million). Shinsegae Group is also opening Squid Game-themed pop-up stores at its department stores, including its flagship Gangnam branch in Seoul and Centum City branch in Busan, through July 10. The pop-up stores are exclusively selling more than 200 types of products co-created with 20 domes

Jun 30, 2025By Yonhap
GS25, Shinsegae launch 'Squid Game' pop-up stores, exclusive tie-in goods

Jeju Air to increase int'l flights on 18 routes through October to meet travel demand

Jeju Air, Korea's leading low-cost carrier, said Monday it will increase the number of international flights on 18 routes to a total of 118 weekly operations through October to accommodate rising travel season demand. The increase will cover seven routes to Japan, three to China, five to Southeast Asia, two to Oceania and one to Mongolia. In detail, Jeju Air will operate 53 additional weekly flights on Japanese routes, including 13 flights on the Incheon-Osaka route and 14 flights on the Busan-Fukuoka route. For routes to China, the carrier will add seven weekly flights, including three on the Incheon-Weihai route. "The flight expansion is aimed at improving travel convenience during the peak travel season in July and August, as well as the Chuseok holiday in October," the airline said.

Jun 30, 2025By Yonhap
Jeju Air to increase int'l flights on 18 routes through October to meet travel demand

Hybe to establish India unit in second half

South Korean K-pop giant Hybe said Monday it will establish a new subsidiary in India in the second half of this year as part of its ongoing effort to broaden the global reach of K-pop. Hybe has previously expanded into the United States, South America, Japan and China. "With the aim of launching (the Indian unit) in September or October, we're currently conducting local market research and handling the necessary procedures to establish the corporate entity," said the company behind BTS, Seventeen and other global acts in a statement. The move is a key element of Chairman Bang Si-hyuk's "multi-home, multi-genre" strategy, which seeks to apply the core principles of the K-pop business model to diverse music markets by adapting to local cultures and consumer preferences, according to the company. Bang is directly supervising the strategy, which he sees as critical to ensuring the long-term viability of K-pop in an increasingly competitive global music industry. India, with a population of over 1.4 billion, represents one of the world's largest and most dynamic music markets.

Jun 30, 2025By Yonhap
Hybe to establish India unit in second half

Corporate direct financing dips in May on fall in debt sales

Corporate direct financing in South Korea dropped sharply in May as companies curtailed debt sales, offsetting a sharp rise in stock offerings, data showed Monday. Local companies raised a combined 21.32 trillion won ($15.73 billion) last month by selling stocks and bonds, down 9.48 trillion won, or 30.8 percent, from the previous month, according to the data from the Financial Supervisory Service. Stock sales spiked to 1.82 trillion won last month from the previous month's 373 billion won, while share sales via initial public offerings rose 53.4 percent on-month to 139 billion won last month. Corporate bond sales, however, sank 36 percent, or 10.92 trillion won, month-on-month to 19.5 trillion won. The value of outstanding corporate bonds stood at 714.45 trillion won as of end-May, up 755 billion won, or 0.1 percent from a month earlier, the data showed.

Jun 30, 2025By Yonhap
Corporate direct financing dips in May on fall in debt sales
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