Business - The Korea Times

Samsung Electronics maintains No. 1 spot in global DRAM market in Q1

Samsung Electronics Co. maintained its position as the world's largest dynamic random-access memory (DRAM) supplier in the first quarter, industry data showed Thursday. According to market research firm Counterpoint Research, Samsung Electronics accounted for 38 percent of global DRAM revenue in the January-March period. Korean rival SK hynix Inc. ranked second with a 29 percent share, while U.S.-based Micron Technology Inc. came in third with 22 percent. SK hynix led the global DRAM market in the first and second quarters of last year, while Samsung ranked second. The two companies were tied at 33 percent in the third quarter before Samsung regained the top position in the fourth quarter and extended its lead for a second consecutive quarter in the first three months of 2026. The gap between Samsung and SK hynix widened to 9 percentage points in the first quarter from 4 percentage points in the previous quarter, according to the data. Although Samsung's market share declined from a year earlier, the company continued to hold a dominant position in the global DRAM market, accounting for we

Jun 25, 2026By Yonhap

Samsung Electronics maintains No. 1 spot in global DRAM market in Q1

DHL spurs pharmaceutical logistics in Korea with new Icheon hub

Global logistics giant DHL Supply Chain has launched a new logistics hub in Icheon, Gyeonggi Province, to bolster its transportation and storage capacity for pharmaceutical and life science products that require delicate environmental control. DHL Supply Chain Korea said on Thursday that a new DHL Health Logistics Hub has been completed in Icheon’s Baeksa. The hub spans 10,000 square meters and is designed to meet the growing demand for highly specialized, compliant health care logistics services here. The new facility is part of a larger 45,500-square-meter warehouse complex developed under DHL’s partnership with real estate asset management firm Qube Industrial in Seoul. The Icheon hub is built to handle a wide range of temperature-sensitive health care products and offers advanced storage and handling capabilities. It also provides temperature-controlled storage for up to 3,800 pallets, cold-chain storage for up to 1,300 pallets and ultra-low-temperature facilities equipped with freezers capable of maintaining temperatures of minus 20 degrees Celsius and minus 80 degrees Celsius

Jun 25, 2026By Ko Dong-hwan

DHL spurs pharmaceutical logistics in Korea with new Icheon hub

Positive outlook for Toyota, BYD's expansion in PHEV market

Toyota and BYD are aggressively targeting Korea's niche plug-in hybrid electric vehicle (PHEV) market, a move experts and industry officials view as a highly viable strategy to capture transitional demand and capitalize on Hyundai Motor Group’s absence in the sector. Local customers have not favored PHEVs due largely to their vague positioning between traditional hybrid cars and all-electric vehicles. PHEVs are also excluded from government subsidies here, making them compete at a distinct price disadvantage against typical electric vehicles (EVs). While a standard hybrid self-charges and relies primarily on a gasoline engine, PHEVs utilize a larger battery that requires external charging to deliver all-electric driving. According to data from the Ministry of Trade, Industry and Resources, PHEVs accounted for just 0.7 percent of the Korean passenger vehicle market between January and May, with 4,739 PHEVs newly registered. This represents a 24.6 percent decline compared to the same period last year. Despite this structural hurdle, industry experts remained optimistic over the latest pu

Jun 25, 2026By Lee Min-hyung

Positive outlook for Toyota, BYD's expansion in PHEV market

JoongAng Group's fate split between court, creditors

The fate of JTBC and other JoongAng Group affiliates now lies with the court amid their worsening liquidity problems, while the normalization of the group’s core company, JoongAng Ilbo, depends on its creditors, according to industry officials and analysts Wednesday. Five key affiliates, including broadcaster JTBC and holding company JoongAng Holdings, have recently filed for rehabilitation proceedings. Major newspaper JoongAng Ilbo has also formally applied for a workout with its lead creditor, Hana Bank, amid the group’s financial strain. The Seoul Bankruptcy Court held hearings with the representatives of the five companies on Tuesday, marking the start of a full-scale review of their rehabilitation cases. Executives who attended outlined the group’s debt exposure and proposed restructuring measures to the court. “I am sorry. We will fully comply with the court’s decision,” Hong Jeong-do, vice chairman of JoongAng Group, told reporters near the court. The group’s restructuring crisis began after JTBC defaulted on June 12, failing to repay 20.6 billion won ($13.4 million)

Jun 25, 2026By Jun Ji-hye

JoongAng Group's fate split between court, creditors

Hyundai Motor union votes in favor of strike plan

Unionized workers of Hyundai Motor on Wednesday voted in favor of a strike plan amid stalled wage talks in a move that could lead to a potential walkout at the company for the second consecutive year. In a vote, 86.65 percent of the union's 39,668 members approved the strike plan, with 94.15 percent of the members casting ballots, according to the union. The approval gives the union the right to stage a legal walkout in the event the state labor relations committee decides to suspend mediation between labor and management in the negotiations. The committee is expected to make a decision on whether to suspend mediation Thursday. The union and management have held 11 rounds of wage talks since May, but they have yet to narrow their differences over the union's demands. The union is demanding a 149,600-won ($96.70) increase in the monthly base pay per worker and 30 percent of Hyundai's net profit logged last year for performance-based pay. It is also calling for bonuses to be increased from 750 percent to 800 percent, raising the retirement age to at most 65 and better job security amid conce

Jun 24, 2026By Yonhap

Hyundai Motor union votes in favor of strike plan

Hanwha Aerospace partners with UAE defense firm for expansion into Middle East

Hanwha Aerospace, Korea's leading defense company, said Wednesday it has signed a deal with a United Arab Emirates (UAE) defense firm in order to tap deeper into the Middle East by producing K9 self-propelled howitzers in the region. Under the deal, Hanwha Aerospace and Generation 5 Holding will work together to produce and sell Hanwha's K9 155-millimeter self-propelled howitzer, currently in service in 10 countries. With the deal, Hanwha Aerospace will be able to expand its status as a defense firm in the Middle East.

Jun 24, 2026By Yonhap

Hanwha Aerospace partners with UAE defense firm for expansion into Middle East

LG Energy Solution expands employee-led volunteer programs to deepen community engagement

LG Energy Solution is expanding its social contribution efforts through employee-led volunteer work and donations as it deepens engagement with local communities. Employees at the company's battery plant in Cheongju, North Chungcheong Province, organized a special gift-giving event for underprivileged children ahead of Children's Day on May 5. The initiative provided personalized gifts and messages of encouragement to 80 children selected in cooperation with the regional Office of Education. Based on wish lists submitted in advance, employees individually chose and wrapped gifts tailored to each child's preferences. The company said it plans to make the program a regular initiative, holding it annually around Children's Day in May and Christmas in December. At its R&D campus in Daejeon, the company also carried out a toy donation and repair campaign to support children's emotional development. Employees collected used toys through an internal donation drive in April, then cleaned and repaired them before delivering them to local children in need ahead of Children's Day. “Given the engin

Jun 24, 2026

LG Energy Solution expands employee-led volunteer programs to deepen community engagement

POSCO’s new portfolio boils down to 8 specialty steels

Major steelmaker POSCO has revamped its product portfolio by streamlining it into eight “strategic steels” for global markets. The company said Wednesday that the eight key product categories will be managed under its new “One Team” system, which seeks to eliminate internal limitations posed by different bureaus and divisions. The renewed operation is the company’s response to rising low-priced steel imports in Korea and nontariff barriers in its global markets. POSCO last February launched four project teams tasked of operating half of its strategic steels: stainless steel for next-generation growth markets; PosMAC for renewable energy; high-manganese steel; and premium electric arc furnace steel. Last December, the company also introduced other project teams for the rest of its strategic steels: heavy plates for energy infrastructures; electrical steel for power transformers; GigaSteel (ultra-high-strength lightweight steel); and HyperNO (high-efficiency non-oriented electrical steel). POSCO said the eight project teams have all begun operations. Each team individually takes

Jun 24, 2026By Ko Dong-hwan

POSCO’s new portfolio boils down to 8 specialty steels

T’way, Eastar in dilemma over unprofitable Jeju route

T’way Air and Eastar Jet face a quandary over newly acquired rights to operate flights between Jeju Island and Gimpo International Airport in Seoul, as the two low-cost carriers (LCCs) left most of the slots unused to prioritize higher-margin international flights — even at the cost of a severe ticket shortage on the route. The seat shortage stems largely from budget airlines scaling back domestic operations in favor of more lucrative international routes amid worsening macroeconomic risks — represented by the strengthening dollar and rising fuel costs. Both LCCs secured the additional flight slots following Korean Air's takeover of Asiana Airlines this year, but they have been unable or unwilling to fully utilize them due to the route’s limited profitability. As part of remedies tied to the Korean Air-Asiana integration, 13 slots on the Jeju-Gimpo route were redistributed from the two full-service carriers to four LCCs in March. Eastar Jet received six slots, Jeju Air four, Parata Air two and T’way Air one. However, not all of the newly allocated capacity has been put into ser

Jun 24, 2026By Lee Min-hyung

T’way, Eastar in dilemma over unprofitable Jeju route

HD Construction Equipment launches excavator line for emerging markets

HD Construction Equipment, a Korean heavy machinery maker, unveiled a new 20-ton excavator Wednesday under its premium DEVELON brand, launching a direct bid to capture greater market share across the Middle East, Africa and other rapidly expanding emerging economies. The company held a launch event at its manufacturing plant in Pune, India, where dealers from Saudi Arabia, the United Arab Emirates, Qatar and Oman were shown the new model and given a live demonstration. Officials also touted the facility's production capacity and quality standards to the visiting dealers. The new excavator is designed for price-sensitive buyers in emerging markets, where 20-ton machines represent the largest segment by volume. HD Construction Equipment said it leveraged economies of scale at the Pune plant to reduce component costs while maintaining performance and durability suited to local working conditions. The Pune facility has recently expanded its annual production capacity to 9,000 units to meet rising demand from emerging markets. The plant produces both HYUNDAI and DEVELON branded equipment, an

Jun 24, 2026By Jhoo Dong-chan

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