my timesThe Korea Times
BusinessCompanies

Companies

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Homeplus ordered by court to submit 200 bil.-won funding plan by next week

A Seoul court has ordered hypermarket chain Homeplus to submit a plan to secure about 200 billion won ($130.1 million) in funding by next week as part of its court-led restructuring process, industry sources said Tuesday. The Seoul Bankruptcy Court recently sent an official notice to Homeplus, its creditors and labor union, requesting a funding plan by June 30, just days before the July 3 deadline for court approval of the retailer's rehabilitation plan, according to sources familiar with the issue. Private equity firm MBK Partners acquired a 100 percent stake in Homeplus from British retailer Tesco Plc for 7.2 trillion won in 2015. However, the retailer entered court-led rehabilitation proceedings in March 2025 after facing mounting financial difficulties amid a prolonged downturn in the hypermarket sector. In December last year, Homeplus submitted a rehabilitation plan that included debtor-in-possession (DIP) financing and asset sales. The plan's approval deadline was initially set for March, but was later extended to May and again to July as the court sought additional time to review

Jun 23, 2026By Yonhap
Homeplus ordered by court to submit 200 bil.-won funding plan by next week

FTC approves Coupang’s co-prosperity plan for its private brand contract

The Fair Trade Commission (FTC) has approved a 3 billion won ($2 million) "co-prosperity" remedy package proposed by Coupang to resolve its allegation that the e-commerce giant unfairly slashed supply prices for its private brand (PB) products. The decision will allow Coupang to avoid regulatory sanctions and will instead fund product development, advertising and other related expenses for its subcontractors. Since October 2022, Coupang had been under investigation for violating the Fair Transactions in Subcontracting Act. The company allegedly failed to issue formal, legally compliant contracts to 314 subcontractors. It was also accused of forcing 94 suppliers to fund uncontracted promotional events and cut supply prices for its PB goods. The FTC finalized Tuesday the consent decree for Coupang and Coupang Private Label Brands, which handles manufacturing and sales operations for the retailer’s private brand products. Under the consent decree, companies can settle antitrust cases without admitting liability by offering voluntary remedies. The decision marks the first time a consent dec

Jun 23, 2026By Lee Min-hyung
FTC approves Coupang’s co-prosperity plan for its private brand contract

POSCO International attracts $2 bil. in 1st global US-dollar bond sale

Demonstrating that high-quality corporate borrowers can still command a premium in turbulent times, POSCO International successfully navigated choppy global markets Tuesday to price its first-ever U.S. dollar bond, drawing an overwhelming wave of international investor demand. The Korean energy and commodities trading powerhouse locked in $500 million in a five-year offering that attracted $2 billion in total orders — exactly four times the amount initially sought. The heavy oversubscription allowed the firm to aggressively tighten pricing to 90 basis points over U.S. Treasuries, signaling strong global confidence in its core businesses despite a backdrop of rising geopolitical tensions in the Middle East. The deal marks a significant milestone for POSCO International, cementing its status as a standalone investment-grade issuer on the world stage. As the key trading and energy arm of Korea’s steel giant POSCO Group, the firm has increasingly looked to diversify its foreign currency funding bases to shield its expansive global capital expenditures from localized macroeconomic press

Jun 23, 2026By Jhoo Dong-chan
POSCO International attracts $2 bil. in 1st global US-dollar bond sale

ESG, supply chain stability loom large in subsea cable sector amid tech theft dispute

As the ongoing investigation into Taihan Cable & Solution’s alleged theft of LS Cable & System’s submarine cable technology moves to prosecutors, the global energy market is closely watching how the legal outcome will reshape the international competitive landscape. The submarine cable sector is currently riding an unprecedented supercyle driven by a surge in artificial intelligence data centers, ultrahigh-voltage transmission networks and offshore wind power developments. Mega-sized projects using high-voltage direct current systems are expanding rapidly across Europe and the United States, driving a steep increase in global demand. Unlike conventional manufacturing, submarine cable contracts are uniquely forward-looking, with suppliers typically locked in three to four years before actual construction begins. Because of this multiyear timeline, project owners place heavy emphasis on a manufacturer's long-term production viability, financial health and operational reliability. Modern procurement standards have evolved beyond mere pricing and technical specifications. Environmental,

Jun 23, 2026By Lee Min-hyung
ESG, supply chain stability loom large in subsea cable sector amid tech theft dispute

Volvo Car Korea sets sales milestone on customer satisfaction

Volvo Car Korea has achieved a major milestone early this year by surpassing 150,000 units in cumulative vehicle sales here, as the carmaker enjoys high customer loyalty and robust residual value, the company said Tuesday. In the hypercompetitive imported car market in Korea, the automaker said the achievement reflects both its quantitative expansion and qualitative excellence. Beyond product quality and competitive pricing, Volvo continues to have strong customer loyalty through intangible value, such as low maintenance costs, superior service and solid residual value. At the heart of this success is the carmaker’s commitment to elevating ownership experience. The company’s Service by Volvo initiative provides practical, direct benefits throughout a vehicle’s lifecycle, focusing on minimizing ownership costs, ensuring fast and convenient service, and reinforcing technical precision. To guarantee worry-free ownership, Volvo Car Korea offers an industry-leading warranty of five years or 100,000 kilometers for general parts and consumables — meaning owners incur virtually zero main

Jun 23, 2026By Lee Min-hyung
Volvo Car Korea sets sales milestone on customer satisfaction

Samsung's HBM4 sales top $1 bil. 4 months after launch

Samsung Electronics' sales of sixth-generation high bandwidth memory chips, known as HBM4, surpassed $1 billion, industry sources said Tuesday. The milestone comes just four months after the South Korean tech giant became the first company in the world to begin mass production and shipments of HBM4 chips in February. Industry sources expect Samsung's HBM4 revenue to exceed $1.2 billion by the end of June. Samsung has rapidly expanded HBM4 shipments since the product's launch, helping it gain market share in the fast-growing HBM segment. HBM4 chips are designed for next-generation artificial intelligence (AI) accelerators, including Nvidia Corp.'s Vera Rubin platform. Nvidia's graphics processing units are widely used in generative AI applications. The global HBM market is currently dominated by fifth-generation HBM3E products. However, industry observers expect HBM4 to become a key growth driver as demand for advanced AI chips accelerates.

Jun 23, 2026By Yonhap
Samsung's HBM4 sales top $1 bil. 4 months after launch

PHOTO Starbucks closes early

A Starbucks store in Seoul displays a notice Monday announcing an early closure at 3 p.m. for employee training on historical and social awareness. The training follows a controversy over Starbucks Korea's "Tank Day" promotional campaign in May, which drew criticism for language that many viewed as evoking key moments linked to the 1980 pro-democracy uprising in Gwangju. Shinsegae Group Chairman Chung Yong-jin later apologized for the incident. Yonhap

Jun 22, 2026By Ko Dong-hwanphoto
[PHOTO] Starbucks closes early

InterviewKorean beef sizzles in Dubai's fine dining scene

Korean fine dining restaurant Hanu in Dubai is now seeing rising demand for hanwoo, Korean beef livestock, over Japanese wagyu. The growing popularity of Korean beef is generating buzz not only for its distinctive taste but also for helping redefine hansik, or traditional Korean cuisine, in one of the Middle East’s major economies. For the past five years, Hanu chef Moon Kyung-soo has worked to secure halal certification for imported hanwoo from Korea, which is now the most popular meat selection at the establishment. “Hanwoo is not as fatty as wagyu. Hanwoo’s real flavor is in its juice and aroma. Our patrons at first doubted hanwoo but they love it now. A table once ordered 25 servings of hanwoo in a single meal,” Moon said in an interview with The Korea Times on Monday. “More than 90 percent of our guests prefer hanwoo over wagyu. As our consumption of wagyu has declined so sharply, our wagyu suppliers complained about the slowdown.” Hanu sources its hanwoo from a slaughterhouse in Hoengseong County, Gangwon Province, the only meat processor in Korea with halal certificatio

Jun 22, 2026By Ko Dong-hwan
Korean beef sizzles in Dubai's fine dining scene

Hanwha Aerospace receives A- issuer credit rating from S&P

Hanwha Aerospace said Monday that it has received a long-term issuer credit rating of A- with a stable outlook from S&P Global Ratings, marking its first rating from a global credit assessment agency and strengthening its access to international capital markets. The company is the first Korean defense and aerospace firm to receive a global credit rating. The investment-grade rating places Hanwha Aerospace in the same category as major global defense companies and is expected to facilitate direct fundraising in overseas debt markets. In its assessment, S&P cited the company's competitive defense platforms, including the K9 self-propelled howitzer and Chunmoo multiple rocket launcher system, which are well-positioned to benefit from rising global defense spending. The ratings agency also highlighted Hanwha Aerospace's expanding weapons exports, particularly to Europe and the Middle East, as well as its ability to rapidly fulfill orders. S&P noted the company's strategic importance to Korea's national security and its record order backlog of approximately 37 trillion won ($24 billion) at the

Jun 22, 2026By Lee Min-hyung
Hanwha Aerospace receives A- issuer credit rating from S&P

Net-zero push unites Korea's tire, auto parts giants

As global carbon regulations tighten and pressure mounts across supply chains, Hankook & Company Group is bringing its key affiliates together in a coordinated push toward its 2050 carbon neutrality goal. The group said Sunday that it recently held an energy exchange meeting at Hankook Engineering Lab in Daejeon, gathering energy management officials from Korea & Company, Hankook Tire & Technology and Hanon Systems to strengthen cooperation on carbon reduction and energy efficiency initiatives. About 20 employees from the three companies participated in the meeting, which took place Tuesday. The participants reviewed major energy sources and consumption patterns, discussed greenhouse gas management strategies and shared implementation plans for 2026. They also exchanged views on emissions trading systems, growing customer demands for carbon reduction and anticipated changes to electricity market structures. A key focus of the meeting was identifying practical ways to expand energy-saving measures and renewable energy adoption across the group. Officials introduced successful carbon reducti

Jun 22, 2026By Lee Kyung-min
Net-zero push unites Korea's tire, auto parts giants
previous page
2728293031
next page

Most Read in Business