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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.

POSCO Holdings to invest $633 million in battery units amid EV slowdown

POSCO Holdings said Tuesday it will inject 922.6 billion won (US$633 million) into three of its battery materials affiliates to help them navigate financial difficulties stemming from sluggish demand in the electric vehicle (EV) market. The investment will be made through separate share offerings by POSCO Future M Co., POSCO Pilbara Lithium Solution and POSCO GS Eco Materials, the holding company said in a regulatory filing. The move comes as demand for EV batteries remains subdued due to the "EV chasm" — a slowdown in consumer adoption before mass-market growth. POSCO Future M, the group's flagship affiliate, plans to raise 1.1 trillion won by issuing new shares to fund facility investments, operational costs and other business needs. The other two affiliates are expected to use proceeds from the share sales to strengthen liquidity and continue raw material sourcing and processing operations.

May 13, 2025By Yonhap
POSCO Holdings to invest $633 million in battery units amid EV slowdown

Kia unveils wheelchair-friendly PV5 model at Future of the Car Summit in London

Kia said Tuesday it has unveiled the PV5 wheelchair-accessible vehicle (WAV) at the Future of the Car Summit in London, highlighting the company's efforts to promote inclusive mobility. Showcased at the automotive industry event hosted by the Financial Times, the PV5 WAV is designed to enhance freedom of movement for wheelchair users, as well as their families, caregivers and drivers, providing a more convenient and accessible travel experience while supporting the transition to electric mobility. It features a side-entry system that allows wheelchair users to safely board from the sidewalk, along with a specially designed third-row seat to assist caregivers in supporting passengers from the side. It also includes a 300 kilogram-rated wheelchair entry ramp and a specially developed wheelchair belt fastening system. The model will be produced at Kia's Hwaseong EVO Plant in South Korea, using the company's custom production system designed to ensure ecological sustainability. "The PV5 WAV is more than just a vehicle. It is a gateway to independence and freedom for those with mobility chall

May 13, 2025By Yonhap
Kia unveils wheelchair-friendly PV5 model at Future of the Car Summit in London

Samsung unveils Galaxy S25 Edge, setting new standard for slimness

Samsung Electronics on Tuesday unveiled the Galaxy S25 Edge, the latest addition to its Galaxy lineup and the thinnest design ever introduced in the Galaxy S series. With the S25 Edge, Samsung is setting the stage for a showdown with Apple and other smartphone makers over slimmer form factors, aiming to attract consumers seeking more noticeable design changes in new models. Roh Tae-moon, Samsung Electronics president and head of the mobile division, defined the S25 Edge as a "new category that has balanced out design and engineering." "The S25 Edge has gone beyond the existing limitation of ultra-slimness to usher in innovative user experience," he said during the unveiling event. The S25 Edge's launch, scheduled for May 23, will mark a showdown with Apple over slimmer smartphones, as the U.S. tech giant is expected to unveil the 5.5-millimeter-thick iPhone 17 Air in September. A growing number of consumers have recently expressed boredom with the smartphone industry, as manufacturers have focused on artificial intelligence features while keeping form factors largely unchanged. With the S2

May 13, 2025By Ko Dong-hwan
Samsung unveils Galaxy S25 Edge, setting new standard for slimness

Korean ICT minister to visit US for GPU cooperation talks with Nvidia

Korean Minister of Science and ICT Yoo Sang-im will visit the United States later this week to discuss ways to expand cooperation with Nvidia in securing advanced graphic processing units (GPUs), the ministry said Tuesday. The announcement came during a meeting of the government-led special committee on artificial intelligence (AI) computing, which Yoo chairs. At the meeting, the ministry also unveiled an additional budget of 1.46 trillion won ($1.03 billion) aimed at purchasing 10,000 high-performance GPUs. The budget will support a comprehensive plan covering procurement, infrastructure development and GPU utilization through public-private collaboration. This follows the Korean government's earlier pledge to secure 10,000 advanced GPUs within this year to stay competitive in the global AI race. As part of the first phase, the government will select a cloud service provider to begin GPU acquisition and build related infrastructure at the planned National AI Computing Center. The program will also support local industry-academia research centers and state-funded project operators by allow

May 13, 2025By Yonhap
Korean ICT minister to visit US for GPU cooperation talks with Nvidia

Will Hoban attempt takeover of Korean Air?

Hoban Construction has increased its stake in Hanjin KAL to over 18 percent, narrowing the ownership gap with the largest shareholder bloc led by Hanjin Group Chairman Cho Won-tae to less than 2 percentage points, according to industry officials on Tuesday. Hanjin KAL is the holding company of Hanjin Group, best known for being the parent company of Korean Air. While the flagship construction arm of Hoban Group maintained that the acquisition is intended solely for investment purposes, many market watchers view the move as a precursor to a potential management dispute that could reshape the balance of power within Hanjin Group. On Monday, Hoban Construction reported via the Financial Supervisory Service's electronic disclosure system that its combined stake in Hanjin KAL — including shares held by Hoban Hotel & Resort and other affiliates — had increased from 17.44 percent to 18.46 percent. "The shares were acquired purely for investment purposes," a Hoban Construction official stated. Industry attention, however, is focused on whether the builder might enter into a management dispute

May 13, 2025By Jun Ji-hye
Will Hoban attempt takeover of Korean Air?

Aramco reaffirms support for S-Oil's Shaheen project

One of the president-level executives of Saudi Aramco, the world's largest oil company and majority shareholder for S-Oil in Korea, visited the oil refiner's Shaheen project construction site in Ulsan to show support for the 9.2 trillion won ($6.5 billion) project aimed at building a petrochemical complex in the southeastern port city. S-Oil said Tuesday that Mohammed Y. Al-Qahtani, Aramco's president of downstream operations, visited the site a day earlier to encourage workers and pledge continued support for the project's success. Al-Qahtani, who also serves as an S-Oil board member, was accompanied by S-Oil CEO Anwar Al-Hejazi and Aramco Asia Korea acting CEO Khalid Radi as they inspected the site, which reached a 69.1 percent completion rate as of Tuesday. In March 2023, when the groundbreaking ceremony for the project took place, Al-Qahtani also visited a neighboring S-Oil plant, demonstrating his strong commitment to the investment. During his latest visit, he examined the thermal crude-to-chemicals facility, steam cracker and polymer plant. He also signed the recently installed 11

May 13, 2025By Park Jae-hyuk
Aramco reaffirms support for S-Oil's Shaheen project

Lee Jae-myung’s red-and-blue sneakers sell out overnight, become surprise ‘election merch’ hit

The red-and-blue sneakers worn by Democratic Party of Korea (DPK) presidential candidate Lee Jae-myung during his campaign launch rally on Monday have sold out just one day after his appearance, emerging as an unexpected piece of “election merchandise.” The shoes, featuring the slogan “Now It’s Lee Jae-myung” on the heel tab, symbolize political unity by blending blue and red — traditionally associated with progressive and conservative camps, respectively. According to retail industry sources on Tuesday, the model is Reebok’s Classic Leather GY1522. The sneakers are divided down the middle with Reebok’s vector logo, featuring blue on one side and red on the other. Designed as retro lifestyle sneakers, the shoes are known for their casual comfort. The shoes sold out immediately on Reebok Korea’s official website Monday. By the next morning, they were also unavailable on major e-commerce platform Coupang. Analysts say either all remaining stock was bought out or sellers removed the listings to relist at higher prices. Originally launched in Korea in 2022, the sneakers wer

May 13, 2025By KTimes
Lee Jae-myung’s red-and-blue sneakers sell out overnight, become surprise ‘election merch’ hit

Who must not be named? Starbucks, Naver tighten censorship ahead of election

Even if your real name is Lee Jae-myung or Kim Moon-soo, you will not be able to ask Starbucks baristas in Korea to call you by your name when your order is ready — at least not until after the June 3 presidential election. As presidential candidates wrapped up registration on Sunday and launched official campaigns on Monday, online platform operators in Korea began tightening censorship. SCK Company, the operator of Starbucks coffee shops in Korea, temporarily banned customers from using the names of presidential candidates as their nicknames on the Siren Order app. Launched in Korea in 2014 as the world's first mobile ordering app for Starbucks food and beverages, the app allows users to register nicknames to be called when their orders are ready. Even before the campaign period began, SCK has prohibited "improper" nicknames, including those containing offensive words or names that are difficult to pronounce or likely to confuse employees or other customers. These rules drew attention when some customers used politically contentious nicknames earlier this year, when massive rallies

May 13, 2025By Park Jae-hyuk
Who must not be named? Starbucks, Naver tighten censorship ahead of election

Is JD.com preparing to enter South Korea’s e-commerce market?

Chinese e-commerce giant JD.com, the second-largest player after Alibaba, has launched logistics operations in Korea through its subsidiary JD Logistics. The move is prompting speculation over whether it signals a potential launch of its e-commerce platform in the country, as well as a broader expansion of Chinese e-commerce players in the Korean market. Also known as Jingdong, JD.com has become the first "C-commerce" firm to establish its own logistics infrastructure in Korea, allowing it to offer faster delivery of quality products compared to its Chinese competitors. Despite the development, major Korean e-commerce players remain largely unshaken, citing their strong market dominance and customer loyalty. They believe it will be challenging for the Chinese giant to gain a meaningful foothold. Additionally, industry experts note that earning the trust of Korean consumers will be a major challenge for JD.com in its bid to expand its presence in the local market. JD Logistics’ entry into the Korean logistics market last month has made headlines. Unlike other Chinese e-commerce giants s

May 13, 2025By Ko Dong-hwan
Is JD.com preparing to enter South Korea’s e-commerce market?

HD Hyundai electrifies heavier forklifts

HD Hyundai XiteSolution's 7-ton electric forklift stands on HD Hyundai Heavy Industries' shipyard in Ulsan in this handout photo released on Tuesday. HD Hyundai XiteSolution said it will globally release eight types of new medium- and heavy-duty electric forklifts weighing between 4 tons and 9 tons next month. This is the first time a Korean construction equipment maker has produced an electric forklift that weighs over 5 tons. Courtesy of HD Hyundai XiteSolution

May 13, 2025By Park Jae-hyuk
HD Hyundai electrifies heavier forklifts
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