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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 Heavy Industries Q1 net profit up over 10-fold to $62.8 mil.

Samsung Heavy Industries on Thursday reported its first-quarter net income of 90.1 billion won ($62.8 million), up 1,055.1 percent from a year earlier. Operating profit for the January-March period was 123.1 billion won, up 58 percent from a year ago, the company said in a regulatory filing. Sales rose 6.2 percent to 2.49 trillion won. The earnings beat market expectations. The average estimate of net profit by analysts stood at 60.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Apr 24, 2025By Yonhap
Samsung Heavy Industries Q1 net profit up over 10-fold to $62.8 mil.

Hyundai Motor Q1 net up 0.2% amid US tariff uncertainty

Hyundai Motor Korea's leading automaker, said Thursday its first-quarter net profit rose 0.2 percent from a year earlier, amid growing uncertainties stemming from U.S. President Donald Trump's sweeping tariff policies. Net profit for the three months ended March came to 3.38 trillion won ($2.4 billion), up from 3.376 trillion won during the same period last year, the company said in a regulatory filing. Operating profit increased 2.1 percent on-year to 3.63 trillion won in the March quarter, compared with 3.56 trillion won a year earlier. Sales rose 9.2 percent to 44.4 trillion won, up from 40.66 trillion won. "Increased sales of value-added sport utility vehicles (SUVs) and the won's weakness against the dollar helped the company achieve an operating profit margin of 8.2 percent in the first quarter," the company said. In the January-March period, Hyundai sold a total of 1,001,120 vehicles in global markets, down 0.6 percent from the previous year. Looking ahead, the company cautioned that rapidly changing trade environments, driven by recent U.S. tariff measures, could lead to a potenti

Apr 24, 2025By Yonhap
Hyundai Motor Q1 net up 0.2% amid US tariff uncertainty

LG Electronics Q1 net income up nearly 50% on robust sales

LG Electronics said Thursday its first-quarter net profit jumped nearly 50 percent from a year earlier, driven by record-breaking quarterly sales. The company posted a net profit of 875.6 billion won ($612.4 million) for the January-March period, up 49.6 percent from 585.4 billion won a year earlier, according to a regulatory filing. Its revenue rose 7.8 percent on-year to 22.73 trillion won, the highest ever recorded for a first quarter. Operating income totaled 1.25 trillion won, down 5.7 percent from 1.33 trillion won a year ago. The figure was 5.4 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. LG Electronics attributed its steady sales growth to strong performance in its business-to-business (B2B) sectors, including electric vehicle components, subscriptions and heating, ventilation and air conditioning (HVAC) businesses. The vehicle component division posted record-high first-quarter sales of 2.84 trillion won and an operating profit of 125.1 billion won. The

Apr 24, 2025By Yonhap
LG Electronics Q1 net income up nearly 50% on robust sales

Maxim Plant has coffee lovers buzzing

Maxim Plant, located in Seoul’s upscale Hannam-dong neighborhood, has created a buzz among coffee lovers with its offers of unique experiences. Since its launch in 2018, Maxim Plant has attracted over 1.31 million visitors as of the end of last year, reflecting its steady popularity. The venue, operated by Dongsuh Foods, is themed around Maxim, the company’s flagship instant coffee brand. The venue stands apart from typical cafes in Korea by offering a coffee experience that engages all five senses. It also appeals to coffee enthusiasts eager to craft their own version of the world’s best cup. On Maxim Plant's third floor, the Brewing Lounge offers a standout feature called Synesthesia Coffee, a fully customizable experience designed to enhance the way visitors enjoy their coffee. Using a tablet, guests select their preferences for aroma, acidity and roast level. Based on their choices, the system recommends one of 16 specialty coffee drinks Maxim Plant offers. The lounge then provides a guided explanation of the selected coffee, along with curated music or poetry to complement the

Apr 24, 2025By Ko Dong-hwan
Maxim Plant has coffee lovers buzzing

Financial watchdog rebukes claims by MBK, Homeplus over rating downgrade, debt sale fiasco

The chief of the country's financial watchdog on Thursday said private equity fund MBK Partners and its wholly owned retailer Homeplus had prepared for a court rehabilitation scheme "for a long period of time" before a rating downgrade and sold short-term debts despite the possibility of its rating downgrade. The remarks by Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), run counter to their earlier claims that they had drawn up measures for court-led rehabilitation from Feb. 28 after Homeplus' ratings were lowered. On March 4, Homeplus entered court-led rehabilitation proceedings. They have also insisted that Homeplus had sold short-term debts not expecting its rating to be lowered. "Homeplus and MBK Partners are insisting that they were not aware of the rating downgrade, but we have secured specific evidence that they were aware of the rating cut in advance, and had prepared for a court rehabilitation scheme for a long period of time," Lee said in a press briefing. Based on the probe, the watchdog referred the case to the prosecution for further investigation earlier

Apr 24, 2025By Yonhap
Financial watchdog rebukes claims by MBK, Homeplus over rating downgrade, debt sale fiasco

Korea to impose anti-dumping tariffs on Vietnamese stainless steel products

Korea's trade watchdog decided Thursday to impose anti-dumping tariffs on cold-rolled stainless steel products from two Vietnamese companies, according to Seoul's industry ministry. The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 18.81 percent duties on stainless steel products imported from Vietnam's Yongjin Metal Technology and 11.37 percent tariffs on those from TVL Joint Stock over the next five years, it said. The don came after Korean steel giant POSCO Holdings filed a complaint against the Vietnamese companies with the KTC a year ago. The KTC concluded that the dumping of Vietnamese steel products here has caused "substantial" damage to the local steel industry. On Thursday, the KTC also recommended the finance ministry to levy provisional anti-dumping tariffs of up to 33.97 percent on Chinese sodium dithionite products following a preliminary investigation. In addition, the trade watchdog proposed provisional anti-dumping tariffs of up to 17.19 percent on particle board imports from Thailand, according to the ministry.

Apr 24, 2025By Yonhap
Korea to impose anti-dumping tariffs on Vietnamese stainless steel products

HD Hyundai Mipo wins $111 mil. container ship order in Asia

HD Hyundai Mipo Dockyard, a Korean shipbuilder, said Thursday it has secured a 159 billion-won ($111 million) order to build two container carriers for a client in Asia. The vessels will be delivered to an undisclosed Asian shipping company by May 2027, the company said in a regulatory filing. HD Hyundai Mipo is one of three affiliates under HD Korea Shipbuilding & Offshore Engineering (HD KSOE), alongside HD Hyundai Heavy Industries and HD Hyundai Samho Heavy Industries. HD KSOE is a subholding company of HD Hyundai, formerly known as Hyundai Heavy Industries Holdings.

Apr 24, 2025By Yonhap
HD Hyundai Mipo wins $111 mil. container ship order in Asia

Samsung SDI named Jaguar Land Rover's top partner

Samsung SDI said Thursday that it has received the Jaguar Land Rover (JLR) Quality Award from the British carmaker, which also certified the Korean battery maker as a top global partner. Since 2010, JLR has rewarded its global suppliers for their efforts to provide high-quality products on time, contributing to mutual growth. The automaker presents the awards following a rigorous evaluation of partners based on product quality and delivery reliability. With the recent award, Samsung SDI has been recognized for its product technology and quality, solidifying its position as an outstanding partner. "Our outstanding technological prowess and quality have been reaffirmed by our premium brand client, and we will continue to provide our customers with the best products and grow together through the partnership," said Park Jeong-joon, head of Samsung SDI's quality division. Following a strategic partnership signed in 2018, Samsung SDI has supplied JLR with its 21700 cylindrical batteries for the Range Rover and Range Rover Sport. According to the Korean firm, the battery is optimized for fast ch

Apr 24, 2025By Park Jae-hyuk
Samsung SDI named Jaguar Land Rover's top partner

Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources

Samsung Electronics is expected hold the summer edition of its Galaxy Unpacked event in July in New York, industry sources said Thursday. At the event, Samsung Electronics will unveil the latest versions of its foldable smartphone series, the Galaxy Z Fold 7 and Galaxy Z Flip 7, according to the sources. The exact date of the event has not yet been finalized. It is the first time in nearly three years that Samsung Electronics will debut its new Galaxy smartphones in New York following the event in August 2022, when the world's largest smartphone maker introduced the Galaxy Z Fold 4 and Galaxy Z Flip 4. Samsung Electronics has hosted previous Unpacked events for its foldable lineup in cities including Paris last year and Seoul the year before.

Apr 24, 2025By Yonhap
Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources

Hyundai Motor partners with India's IIT Delhi to open mobility research center

Hyundai Motor Group said Thursday it has partnered with the Indian Institute of Technology (IIT) Delhi to establish a new research center in India aimed at advancing future mobility technologies, with a focus on electrification and battery systems. Under their partnership agreement signed Wednesday, the two sides will establish the Hyundai Center of Excellence, which will serve as a hub for joint research projects under a long-term academic-industry cooperation framework. Hyundai Motor and Kia together plan to invest around 5 billion won ($ 3.5 million) over two years to pursue research in future mobility technologies at the center. The group has identified nine collaborative projects with IIT Delhi, covering areas such as battery cells and systems, battery management systems, safety, durability and diagnostic technologies. The center will also explore new materials and components to further enhance battery design and performance. An official partnership agreement signing ceremony was held in New Delhi, attended by Yang Heui-won, president and head of Hyundai's research and development di

Apr 24, 2025By Yonhap
Hyundai Motor partners with India's IIT Delhi to open mobility research center
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