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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.

Clustering of shareholders' meetings persists despite gov't reform efforts

Despite government efforts to enhance shareholder value, the concentration of annual general meeting dates remains high, prompting calls for stronger incentives to address the issue, according to industry officials Monday. Spreading out annual general meetings allows more shareholders to attend and exercise their voting rights, thereby enhancing shareholder protection and contributing to greater corporate transparency. However, recent data shows that two-thirds of listed companies held their annual general meetings within a concentrated three-day period — even after the government introduced the Corporate Value-up initiative. According to the Korea Listed Companies Association and Kosdaq Listed Companies Association, 1,627 companies — or 66.7 percent — of the 2,440 listed companies with December fiscal year-ends held their annual general meetings on the three most common dates. These dates were March 26 (544 companies), March 28 (571 companies) and March 31 (512 companies). Although this marks a slight decrease from last year’s concentration level of 70.8 percent, it remains sign

May 26, 2025By Lee Yeon-woo
Clustering of shareholders' meetings persists despite gov't reform efforts

Volkswagen Atlas family SUV arrives in Korea

Volkswagen Group Korea CEO Till Scheer poses with the three-row midsize SUV, the Atlas, at its launch event in Incheon, Monday. The head of the German carmaker's local subsidiary said the vehicle will be a game changer in Korea's large SUV market. The vehicle, introduced for the first time to the Korean market, features strong performance with a maximum output of 273 horsepower. Its price starts from 67.7 million won ($49,700). Yonhap

May 26, 2025By Lee Min-hyung
Volkswagen Atlas family SUV arrives in Korea

Samsung Biologics secures over $3.6 bil. in orders so far this year

Samsung Biologics has hit the 5 trillion won ($3.67 billion) mark in its cumulative orders so far this year after adding 440.5 billion won of new contracts to its contract manufacturing backlog, the biotech firm said Monday. In its regulatory filing, Samsung Biologics said it signed two contracts with drugmakers in Europe and Asia, worth 242 billion won and 198.5 billion won, respectively. The contract manufacturing deals will last until the end of 2030 and 2033, respectively, and Samsung Biologics did not reveal further details, citing confidentiality agreements. With the latest contracts, the company has secured four new contracts worth 3.25 trillion won across the United States, Asia and Europe so far this year, which account for approximately 60 percent of its total orders of 5.4 trillion won that it secured in 2024. Samsung Biologics said the 5 trillion won mark reflects its solid growth and expansion in the global biopharmaceutical industry. Currently, Samsung Biologics' clients include 17 out of the world's top 20 drugmakers, securing orders worth $18.2 billion since its foundation

May 26, 2025By Nam Hyun-woo
Samsung Biologics secures over $3.6 bil. in orders so far this year

Mercedes-Benz Korea supports future talent, startups for local auto industry

Mercedes-Benz Korea is deepening efforts for sustainable growth of the local automotive industry by supporting future talent and startups here, the carmaker said Monday. The importance of nurturing auto specialists is growing rapidly as the industry undergoes rapid technological innovation. In response, the local subsidiary of the German automaker is widening its contribution to the industry through a range of academic-industry cooperation programs for young talent and startups. For instance, the carmaker operates the Mercedes-Benz Mobile Academy, which was launched in 2014 by the company’s Corporate Social Responsibility Committee. More than 2,400 university students majoring in automotive-related fields have completed the program, gaining exposure to the brand’s advanced technologies and global educational expertise. Those who display outstanding performance in the academy are given opportunities to experience cutting-edge production facilities and technology of the luxury automaker. In July 2024, the carmaker selected a group of students for a special tour of the German headquarte

May 26, 2025By Lee Min-hyung
Mercedes-Benz Korea supports future talent, startups for local auto industry

Korea’s top defense players unite in Busan

A biennial international maritime defense exhibition is returning to Busan, with all major local defense companies set to showcase their latest technologies. The four-day International Maritime Defense Industry Exhibition (MADEX), running from Wednesday to Saturday at the Busan Exhibition and Convention Center, comes at a time when Korea is expanding its presence in the global arms market following a series of high-profile defense export deals. This year’s edition carries extra weight as Hyundai Rotem joins for the first time, completing the “big 5” lineup alongside Hanwha Aerospace, Hanwha Systems, Korea Aerospace Industries (KAI) and LIG Nex1. The nation’s top two shipbuilders — HD Hyundai Heavy Industries and Hanwha Ocean — will also be present. Both companies have recently attracted significant interest from the U.S. government for potential bilateral cooperation to enhance American naval capabilities. According to the organization committee, more than 200 defense companies from 14 countries will flock to the southeastern port city. Hanwha Aerospace and Hanwha Systems will

May 26, 2025By Nam Hyun-woo
Korea’s top defense players unite in Busan

LG Chem adopts AI to change way of working

LG Chem said Monday it is deploying artificial intelligence (AI) across all areas of its business — from quality prediction and process optimization to contract review and exchange rate forecasting. For its battery materials business, the company is building a cathode materials plant in Tennessee, which will open as a smart factory equipped with AI and digital transformation platforms. The new plant will adopt digital technologies that have been used at its mother factory in Cheongju, North Chungcheong Province, to improve the quality of cathode materials. "AI and digital transformation platforms allow us to automate data collection and prediction modeling," an LG Chem official said. "With regular monitoring and retraining, the system is expected to maintain its accuracy over time." At its petrochemical plant in Yeosu, South Jeolla Province, LG Chem introduced a deep learning-based image analysis system to detect abnormalities in the flare stack process and enhance operational efficiency. A flare stack is used to burn off excess gases safely during chemical processing. Last year, the ch

May 26, 2025
LG Chem adopts AI to change way of working

Investigation into SK Telecom data breach expands to KT, LG Uplus: sources

A joint government-private investigation team looking into SK Telecom's recent large-scale data breach has extended its probe to the servers of two other major mobile carriers, KT and LG Uplus, but found no signs they have been compromised, industry sources said Monday. Initially, the team had asked local telecommunications and platform companies to conduct their own cybersecurity inspections. However, the approach was revised last week amid growing concerns that hackers using BPFDoor malware variants may have also targeted other Korean mobile carriers, according to the sources. Following the expanded investigation, no traces of hacking activity have yet been found on the servers of KT or LG Uplus, they added. In a media briefing last week, the investigation team revealed interim findings indicating that 25 malware variants had been discovered on 23 servers belonging to SK Telecom. These included 24 variants of the BPFDoor malware and one variant of WebCell. Two of the affected servers had been used as temporary storage for personal data, such as names, birthdates, phone numbers and emai

May 26, 2025By Yonhap
Investigation into SK Telecom data breach expands to KT, LG Uplus: sources

Major Korean firms spend annual average of $2.1 mil. on cybersecurity

Korea's major companies spent an average of 2.9 billion won ($2.1 million) per year on information protection, industry data showed Monday. According to data from the Korea Internet & Security Agency (KISA) and other sources, 10 local companies each invested over 100 billion won in cybersecurity over the past three years. Samsung Electronics topped the list, spending a total of 712.6 billion won from 2021-2023, followed by telecom giant KT, which invested 327.4 billion won during the same period. SK Telecom, the country's largest mobile carrier that recently suffered a large-scale data breach, came in third with 251.5 billion won in spending. Other companies in the top 10 include Coupang, SK hynix, LG Uplus, Samsung SDS, Woori Bank, Naver and LG Electronics. In 2022, the Korean government mandated that companies operating network infrastructure or generating over 300 billion won in annual sales disclose their cybersecurity investment. A total of 746 companies reported their spending on information protection for 2023, investing a combined 2.1 trillion won, up from 1.5 trillion won by 658 f

May 26, 2025By Yonhap
Major Korean firms spend annual average of $2.1 mil. on cybersecurity

Korean exporters expect 4.9% drop in US sales amid tariff concerns: survey

Korean exporters anticipate a nearly 5 percent drop in their shipments to the United States this year if Washington's current tariff policies continue, a business survey showed Monday. According to the poll commissioned by the Federation of Korean Industries (FKI) and conducted by Mono Research, 150 export-oriented firms that offered responses among the country's top 1,000 companies by sales forecast an average 4.9 percent decrease in U.S. export volumes in 2025. By sector, electrical and electronics companies expected the steepest decline of 8.3 percent, followed by automobiles and auto parts at 7.9 percent, petrochemicals and petroleum products at 7.2 percent, and general machinery at 6.4 percent. In contrast, shipbuilders and pharmaceutical companies project increases in U.S. exports of 10 percent and 1.6 percent, respectively, despite ongoing tariff concerns. Of the respondents, 81.3 percent said they expect negative impacts from the tariff measures on the businesses of both countries. Another 14.7 percent said the impact would be negative for South Korean firms but beneficial to the

May 26, 2025By Yonhap
Korean exporters expect 4.9% drop in US sales amid tariff concerns: survey

POSCO introduces 1st LNG carrier for energy business expansion

POSCO Group has introduced its first liquefied natural gas (LNG) carrier, marking a significant milestone for its expansion into the energy business, the company said Sunday. With the new LNG vessel, POSCO aims to establish a stable energy transport system and bolster its ability to preemptively respond to global supply chain challenges. POSCO International held a naming ceremony on Saturday for the HL Fortuna — the group's first independently secured LNG carrier — at HD Hyundai Samho's shipyard in Mokpo, South Jeolla Province. Fortuna is Latin for "luck." The introduction of the vessel is seen as part of POSCO’s long-term LNG procurement strategy. Under the plan, POSCO International is responsible for LNG procurement, while HD Hyundai Samho builds the vessel. H-Line Shipping will be in charge of its operation. The HL Fortuna measures 299 meters in length and 46.4 meters in width, with a storage capacity of 174,000 cubic meters. It is optimized for transporting North American LNG. A single load of LNG can supply South Korea with enough natural gas for approximately 12 hours. Equippe

May 25, 2025By Lee Min-hyung
POSCO introduces 1st LNG carrier for energy business expansion
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