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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.

Samsung Electro-Mechanics' Q1 earnings brisk on MLCC expansion

Samsung Electro-Mechanics posted solid numbers in the first quarter of this year, driven by brisk sales in its flagship multi-layer ceramic capacitor (MLCC) business. The component company announced Tuesday that it posted 2.74 trillion won ($1.91 billion) in sales in the first quarter of the year, up 4.8 percent from a year earlier. Operating profits stood at 200.6 billion won, up 9.2 percent during the same period. Its component division, which includes MLCC, showed a 19 percent year-on-year growth in sales to reach 1.22 trillion won in the first quarter. The company said this was driven by the launch of the flagship smartphones, Samsung Electronics' Galaxy series, and the increased supply of high-value-added MLCCs for industrial and automotive applications, including artificial intelligence (AI) servers. The package division posted sales of 499.4 billion won, up 17 percent from a year earlier, buoyed by an increase in the supply of ball grid arrays (BGAs) for mobile application processors and memory. BGA is a semiconductor package substrate, and Samsung Electro-Mechanics manufactures

Apr 29, 2025By Nam Hyun-woo
Samsung Electro-Mechanics' Q1 earnings brisk on MLCC expansion

AnalysisHanwha Ocean stocks pressured by KDB share sale overhang

Hanwha Ocean's stock price is likely to be weighed down by pressure from the Korea Development Bank's (KDB) plan to sell its 19.5 percent stake, analysts said Tuesday. Following the announcement of KDB's stake sale plan, the shipbuilder's shares closed at 78,500 won ($55), plummeting by 12.09 percent, while the country's benchmark KOSPI rose by 0.65 percent. The analysts attributed the drop to fears of a stock overhang as the state-owned development bank began selling its stake after 25 years of ownership. Stock overhang refers to a situation where a large volume of shares could enter the market, raising fears of future selling pressure and a weakening in investor confidence. According to sources in the investment banking industry, KDB signed an agreement to offload its 13 million shares — representing a 4.2 percent stake in Hanwha Ocean — through a block deal before the market opened on Tuesday morning. The sale price was set at 81,650 won per share, offering a discount of about 8.57 percent compared to the previous day's closing price of 89,300 won. The total transaction is valued a

Apr 29, 2025By Lee Yeon-woo
Hanwha Ocean stocks pressured by KDB share sale overhang

HYBE posts record Q1 sales on booming concert business

HYBE, the K-pop powerhouse behind BTS, reported a 50 percent year-on-year rise in its operating profit for the January-March period, largely driven by its artists' expanded global tour activities, the company said Tuesday. Sales rose 38.7 percent to a record 500.6 billion won ($348 million) for the quarter, marking its highest first-quarter performance ever. Net profit surged nearly 400 percent to 55.3 billion won. The company attributed the strong sales growth to active world tours and solo concerts by its artists, including BTS' J-Hope, Seventeen, TXT, Enhypen and Boynextdoor. HYBE emphasized the significance of its achievement, as the first quarter is traditionally a quieter period in the industry when artist typically recharge and prepare for new releases. The company also noted a growing roster of its groups has reached the scale and maturity needed to conduct successful world tours. During the first quarter, sales directly involving artists reached 322.5 billion won, accounting for 64 percent of total sales. While album and streaming sales saw a slight year-on-year dip, concert rev

Apr 29, 2025By Yonhap
HYBE posts record Q1 sales on booming concert business

New brand identity for QD-OLED tech

A model promotes Samsung Display's new logo of its quantum dot-OLED (QD-OLED) technology in this handout photo released Tuesday. The company said it will trademark the new logo and promote it as its new brand identity by showcasing it at major exhibitions and incorporating it into product packaging. Courtesy of Samsung Display

Apr 29, 2025By Ko Dong-hwanphoto
New brand identity for QD-OLED tech

Conglomerates struggle with EV charging profits amid sluggish demand

Major conglomerates face widening earnings falls in their electric vehicle (EV) charging businesses, as tepid sales growth for all-electric cars makes it harder for them to generate any immediate returns from the once-promising industry, according to data and industry officials, Tuesday. LG Electronics became the first to have decided to exit the business. The company tapped into the industry by acquiring HiEV Charger, formerly AppleMango, in 2022. It invested 41 billion won ($28.5 million) over the past three years but opted to drop the business amid its sequential losses of billions of won in the past two years. Other large firms, such as SK, Hyundai Motor, Shinsegae and Lotte, have also endured losses with their EV charging station businesses. SK Signet, which operates a global business specializing in ultra-fast EV charging, has suffered growing operating losses in recent years. The company reported an operating loss of 245.2 billion won last year, a 41 percent increase from the previous year. The 2024 loss is nearly three times as high as its sales during the same period. The earnin

Apr 29, 2025By Lee Min-hyung
Conglomerates struggle with EV charging profits amid sluggish demand

LS GreenLink's new US plant

LS Cable & System President & CEO Koo Bon-kyu, center, holds a new road sign for Chesapeake, Va., after receiving it from Chesapeake Mayor Rick West, right, during the groundbreaking ceremony for LS GreenLink's submarine cable manufacturing plant, Monday (local time). The new plant, to be operated by LS Cable & System's subsidiary, will be the largest of its kind in the United States and marks the Korean company's first manufacturing base in the U.S., according to the company. Courtesy of LS Cable & System

Apr 29, 2025By Ko Dong-hwanphoto
LS GreenLink's new US plant

LS Cable breaks ground on $681 mil. submarine power cable plant in US

LS Cable & System, Korea's largest cable manufacturer, said Tuesday it has broken ground on a 1 trillion-won ($681 million) submarine power cable plant in the United States. It marks the first large-scale facility investment by a Korean company since the inauguration of President Donald Trump's administration in January. The plant, located in Chesapeake, Virginia, is slated for completion in the third quarter of 2027, with operations set to begin in the first quarter of 2028, the company said in a press release. The investment is aimed at "preemptively" responding to the U.S. supply chain reorganization strategy and meeting the growing demand for undersea power cables in the U.S., it said. In 2024, electricity demand from artificial intelligence (AI) data centers in the U.S. was estimated to be equivalent to half of Korea's annual power demand of 62 gigawatts (GW). That figure is expected to more than triple to 120 GW by 2030, according to the company.

Apr 29, 2025By Yonhap
LS Cable breaks ground on $681 mil. submarine power cable plant in US

280,000 SKT users replace USIM chips through hacking-prompted replacement service

SK Telecom said Tuesday around 280,000 users have received new universal subscriber identity module (USIM) chips through its free replacement program, launched in response to a recent hacking incident. As of 9 a.m., some 4.32 million users had also booked USIM replacements online, according to the company. The service began at 10 a.m. on Monday, with about 2,600 retail stores nationwide also participating in the replacement effort. Some 25 million SK Telecom subscribers, including nearly 2 million budget phone users, are eligible for the replacement service. The move followed a cyberattack detected on April 18, in which SK Telecom discovered signs of a large-scale leak of customers' USIM data. In response, the company pledged to take swift action and launched the replacement program. Authorities believe the data was leaked from SK Telecom's main server despite the company rejecting the claim. "I don't know why SK Telecom denied that," Choi Jang-hyuk, vice chairperson of the Personal Information Protection Commission, told reporters in a briefing. "I think it would be right to view the leak

Apr 29, 2025By Yonhap
280,000 SKT users replace USIM chips through hacking-prompted replacement service

Military in talks with SK Telecom over USIM replacement for troops

The military is in talks with SK Telecom on cooperation for providing new universal subscriber identity module (USIM) chips for troops following a major networking hacking incident at the country's biggest mobile carrier, the defense ministry said Tuesday. A cyberattack caused a massive leak of SK Telecom customers' USIM data earlier this month, affecting some 25 million subscribers, according to the company. "Military units are in consultation with offline stores to swiftly provide necessary USIM replacements for troops at front-line units and those who cannot visit such stores in person," ministry spokesperson Jeon Ha-kyou told a regular press briefing. Jeon, however, stressed the hacking incident does not indicate a leak of military intelligence as security measures are already in place for mobile phones used by troops. He said the ministry is reviewing whether USIM replacements are necessary for work phones used by military personnel and seeking cooperation on the matter with the mobile carrier.

Apr 29, 2025By Yonhap
Military in talks with SK Telecom over USIM replacement for troops

LG Energy Solution, Derichebourg form battery recycling joint venture

LG Energy Solution has established a joint venture with Derichebourg to build a state-of-the-art battery recycling plant, the Korean company said Tuesday. Derichebourg is a leading French company specializing in metal waste recycling. Construction of the facility will begin in 2026 in Bruyeres-sur-Oise, located in the Val-d’Oise region of northern France, with operations set to start in 2027. The plant will focus on preprocessing tasks such as discharging, dismantling and shredding battery scrap — waste generated during battery production — as well as collecting end-of-life electric vehicle (EV) batteries. Marking LG Energy Solution’s first battery recycling JV in Europe, the plant will boast an annual processing capacity of over 20,000 tons at full operation. The extracted black mass will then undergo postprocessing to recover key battery materials, including lithium, nickel and cobalt, which will be reused in LG Energy Solution's battery production. Under the partnership, LG Energy Solution will supply battery scrap from its Polish facility, while Derichebourg will provide end-o

Apr 29, 2025By Park Jae-hyuk
LG Energy Solution, Derichebourg form battery recycling joint venture
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