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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.

HD KSOE's affiliates win $173 bil. container ship orders

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) said Monday its affiliates have secured 2.5 trillion won worth of orders to build 22 container carriers for clients in the Asia and Oceania regions. HD Hyundai Mipo Dockyard will build 16 container ships at its shipyard in Ulsan, 305 kilometers southeast of Seoul, for shippers in the two regions by the first half of 2028, HD KSOE said in a press release. HD Hyundai Samho Heavy Industries will build six container ships at its shipyard in Yeongam, 308 km south of Seoul, for gradual delivery to clients in the regions over the same period. The company did not provide the names of the clients. HD KSOE, a subholding company of shipbuilding-to-machinery conglomerate HD Hyundai, has three affiliates under its wing, including HD Hyundai Heavy Industries.

Apr 28, 2025By Yonhap
HD KSOE's affiliates win $173 bil. container ship orders

Samsung SDI to showcase high-performance ESS battery products in Europe

Samsung SDI announced Monday that it will participate in InterBattery Europe 2025, set to take place in Germany from May 7 to 9, as part of its efforts to expand its presence in the global energy storage market, particularly in Europe. InterBattery Europe is one of the key exhibitions at The Smarter E Europe — the continent’s largest alliance of energy industry exhibitions — with more than 200 companies expected to participate this year. Samsung SDI will showcase a range of next-generation battery products and innovations under the slogan “Intelligent Life, Always ON,” highlighting how battery technology can seamlessly connect with and enhance daily life. The company will particularly focus on its energy storage system (ESS) technologies designed for the AI era, featuring improved safety and greater user convenience. Among the highlights will be the U8A1, a new battery developed for uninterruptible power supply systems, which provide critical backup power during outages at facilities like data centers. Combining high power output with high energy storage, the U8A1 is optimized

Apr 28, 2025By Park Jae-hyuk
Samsung SDI to showcase high-performance ESS battery products in Europe

Nongshim opens 1st overseas 'experience space' for ramyeon in Peru

Nongshim, Korea's leading instant noodle maker, said Monday it has opened its first overseas "experience space" for its instant noodle, or ramyeon, products in Peru. Nongshim launched the new venue, named "Shin Ramyun Bunsik," near Machu Picchu on April 21 (local time), aiming to promote its ramyeon brand to global consumers visiting the iconic site, the company said in a press release. "Just as Shin Ramyun has become a must-try experience at places like Jungfrau in Europe and Punta Arenas near the Antarctic, we hope 'Shin Ramyun Bunsik' will become a new hotspot for enjoying global landmarks," it said. The company does not operate dedicated spaces in Jungfrau or Punta Arena. Located in Aguas Calientes, the gateway town to Machu Picchu, the three-story facility features a hands-on cooking and tasting area on the first floor, with exhibition spaces on the upper floors showcasing the history of Shin Ramyun and Nongshim's product lineup. Nongshim plans to open a second Shin Ramyun Bunsik, also called K-style noodle bar, in Asia within the first half of this year and is considering additional

Apr 28, 2025By Yonhap
Nongshim opens 1st overseas 'experience space' for ramyeon in Peru

DeepSeek resumes service in Korea after disclosing revised info processing policy

Chinese artificial intelligence (AI) service DeepSeek resumed its service in Korea after it disclosed a Korean-language version of its partially revised information policy Monday amid controversy over its data management. DeepSeek is currently available for downloads from app markets here following a service suspension for about two months since Feb. 15. Earlier in the day, the AI service disclosed the improved information processing policy for Korean users after the Personal Information Protection Commission (PIPC) revealed last week that DeepSeek transferred Korean users' personal information to three companies in China and one in the United States without obtaining their consent and disclosing the transfer in its personal information processing policy. DeepSeek also sent what users entered into the prompts to Volcano, a Chinese company affiliated with ByteDance, the parent company of Chinese social media platform TikTok, the PIPC said, asking the Chinese company to faithfully establish legal grounds for its overseas information transfers, immediately destroy the prompt information an

Apr 28, 2025By Yonhap
DeepSeek resumes service in Korea after disclosing revised info processing policy

Hyundai Motor, Kia to rebalance portfolio as US tariff shocks weigh on earnings

Hyundai Motor and Kia are moving to rebalance their production portfolio in the United States, in a desperate bid to minimize a possible earnings drop amid the country's imposition of massive auto tariffs. Last week, Hyundai Motor Group's two automakers reported solid first-quarter earnings, boosted by strong auto sales in the U.S. The figure, however, is feared to fall in the second quarter and the latter half of 2025, following the U.S. implementation of a 25 percent tariff on imported vehicles. In response to the escalating trade uncertainty, the group has formed a task force dedicated to setting up a contingency plan to optimize auto production and sales in the U.S. “We will prepare the contingency plan to shape our ideal production strategies by regions and vehicles,” Lee Seung-jo, executive vice president at Hyundai Motor, told investors during a conference call on Thursday. The executive also said it will gradually localize production there for more automobiles and auto parts from a long-term viewpoint. The strategy seems inevitable, given the carmaker's increasing reliance on i

Apr 28, 2025By Lee Min-hyung
Hyundai Motor, Kia to rebalance portfolio as US tariff shocks weigh on earnings

Korean battery makers help drive Bezos' effort to challenge Tesla's dominance in EV market

Korean battery makers are playing a key role in Amazon founder Jeff Bezos' efforts to challenge Tesla CEO Elon Musk in the electric vehicle (EV) market. Slate, an EV startup backed by Bezos and founded in Mississippi in 2022, chose SK On to supply 20 gigawatt-hours of U.S.-made batteries for its two-seat pickup trucks from 2026 to 2031. The deal is valued at approximately $2.8 billion. Though Slate’s name is seen as an anagram of Tesla, its new pickup stands in stark contrast to Tesla’s Cybertruck. Slate plans to price its pickup under $30,000 by simplifying manufacturing and design, while Tesla’s Cybertruck, by comparison, is priced up to $100,000. Industry officials attribute Slate's choice of SK On to the Korean company's position as the only non-Chinese battery maker that does not supply Tesla, even though it manufactures its batteries in the United States. SK On began mass production in Georgia in 2022, following its 2019 investment to build factories there. The Korean firm also anticipates the start of standard operations at its three U.S. plants by the end of next year, aiming

Apr 28, 2025By Park Jae-hyuk
Korean battery makers help drive Bezos' effort to challenge Tesla's dominance in EV market

SK Telecom vows to take full responsibility for damage from recent data leak

SK Telecom, South Korea's leading mobile carrier, vowed Sunday to take full responsibility for any damage to customers caused by a recent network hacking incident involving the potential leak of subscriber information. Earlier this month, the carrier detected signs of a massive leak of customers' universal subscriber identity module (USIM) data due to a cyberattack and offered the free replacement of the USIMs of all of its 23 million users. "You can prevent hacking damage by subscribing to the USIM protection service. Please trust us and sign up," the company said in a release. "If any damage occurs, SK Telecom will take full responsibility." As of 6 p.m., 5.54 million people had subscribed to the service, accounting for 24 percent of the carrier's total subscribers. The company emphasized that the service is as effective at preventing damage as replacing the USIM itself. The free replacement service will begin Monday, and the company has asked customers to make online reservations to minimize inconvenience. Acting President Han Duck-soo instructed officials to review whether the company'

Apr 27, 2025By Yonhap
SK Telecom vows to take full responsibility for damage from recent data leak

Renault Korea drives safety innovation

Renault Korea proved its strength in vehicle safety, with two key models — the Grand Koleos and Arkana — winning top ratings in a recent auto assessment program here, the carmaker said Sunday. According to the carmaker, the Grand Koleos mid-size SUV and the Arkana small SUV received the top ratings from the 2024 Korea New Car Assessment Program (KNCAP). The program was overseen by the Ministry of Land, Infrastructure and Transport and the Korea Transportation Safety Authority. The two vehicles achieved decent ratings across 21 safety categories, including pedestrian protection and accident avoidance. The Grand Koleos in particular earned the honor of top-rated SUV here by clinching a score of 86.9 points in the assessment. Renault Korea said it will continue building customer trust by upholding its human-first management philosophy. The carmaker is adopting multiple safety-focused vehicle systems represented by its hybrid E-Tech powertrain. These vehicles, equipped with the E-Tech hybrid system, feature prismatic cells known for their durability and impact resistance. Even if the power

Apr 27, 2025By Lee Min-hyung
Renault Korea drives safety innovation

Credit card delinquencies hit 10-year high in Q1 amid economic slump

Delinquency rates at Korea's major credit card companies surged to their highest levels in a decade during the first quarter of 2025, reflecting the prolonged economic downturn, industry data showed Sunday. The number of payments overdue by more than one month, such as credit card bills, installment payments and credit card loans, rose across all major credit card firms — Shinhan, KB, Woori and Hana — in the first three months of the year, the data showed. Hana Card reported a delinquency rate of 2.15 percent, up 0.21 percentage point from the previous quarter and 0.28 percentage point from the same period last year. This marks the highest rate since Hana Card was established in December 2014. KB Kookmin Card saw its delinquency rate climb to 1.61 percent, the highest level since the end of 2014. Shinhan Card also recorded a delinquency rate of 1.61 percent, its highest level since the third quarter of 2015. "Due to the sluggish economy, delinquency rates are rising, particularly among financially vulnerable groups, such as small business owners and self-employed individuals," said a

Apr 27, 2025By Yonhap
Credit card delinquencies hit 10-year high in Q1 amid economic slump

ExclusiveREC Silicon's Norwegian shareholders protest Hanwha's tender offer

Hanwha Group, the largest shareholder of REC Silicon with a 33.3 percent stake, is facing backlash from the Norwegian silicon materials maker's minority shareholders. The criticism follows Hanwha's announcement on Friday of a 925 million Norwegian krone ($89 million) tender offer to acquire the remaining 66.6 percent. The offer, priced at 2.2 krone per share, also includes plans to delist the Oslo Stock Exchange-listed company. A representative of an action group of the minority shareholders told The Korea Times that the offer is a "disgrace and far from satisfactory." Denouncing the proposal as "a scandalously low offer," the action group is considering legal action against the announcement, which came after nearly four months of the two companies' silence on the minority shareholders' requests to explain how REC Silicon's board decided to shut down its Moses Lake polysilicon plant in the United States and elect new board members representing their interests. "Even after subtracting $400 million in debt, it is obvious that the underlying values — spread across 420 million shares —

Apr 27, 2025By Park Jae-hyuk
REC Silicon's Norwegian shareholders protest Hanwha's tender offer
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