my timesThe Korea Times
Business

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.

Demand grows for stronger cabin crews to prevent air rage

Once stereotyped as jobs for young women who were chosen for their attractiveness, flight attendant positions are now undergoing a major shift as concerns rise over air rage incidents, including passengers opening emergency exits without authorization. More airlines in Korea are now seeking cabin crew members who can physically restrain violent passengers. Eastar Jet, for example, announced plans to test applicants' physical abilities during upcoming recruitment sessions, deviating from the common practice of only requiring fitness documentation. The budget carrier will measure each applicant's arm reach and voice projection, asking them to perform sit-ups, run and jump. Applicants will also be evaluated through role-playing scenarios to assess their responses to in-flight emergencies. Ahead of the change in recruitment standards, Eastar conducted a physical strength check for current employees on April 17. "We hope this will be the first step toward changing the public perception that flight attendants are hired primarily based on age and appearance," a company official said. Korean Air r

Apr 24, 2025By Park Jae-hyuk
Demand grows for stronger cabin crews to prevent air rage

SK hynix defies seasonal downturn to post surprising Q1 operating profit

SK hynix far outperformed already-high market expectations for its first-quarter earnings, defying the usual seasonal downturn for chipmakers to deliver its second-highest quarterly sales and operating profit ever. The memory chip giant announced Thursday that it recorded an operating profit of 7.44 trillion won ($5.21 billion) in the first quarter of this year, marking a 157.8 percent increase year-on-year. Revenue for the January-to-March period reached 17.64 trillion won, up 41.9 percent from the same period last year. The numbers exceeded brokerages’ consensus of 6.6 trillion won in operating profit and 17.28 trillion won in sales. It is the company’s second-highest quarterly earnings, following its record-breaking results in the fourth quarter of last year. The company’s operating margin also reached 42 percent, up by 1 percentage point from three months earlier, extending an uptrend for the eighth consecutive quarter. “During the first quarter, the memory chip market recovered faster than expectations due to an accelerated race for developing artificial intelligence (AI) se

Apr 24, 2025By Nam Hyun-woo
SK hynix defies seasonal downturn to post surprising Q1 operating profit

LG Electronics India IPO bid slows down

LG Electronics’ bid to list its Indian unit on the local stock market appears to be slowing down amid volatility in the global capital market stemming from the United States tariff measures. According to industry officials, Wednesday, LG Electronics India recently completed its updated draft red herring prospectus (DRHP) for listing, but is still deliberating on the timing of its submission to the Securities and Exchange Board of India. After receiving a provisional approval for the 150 billion rupee ($1.72 billion) initial public offering (IPO) bid last month, the company has been preparing the updated DRHP, a step that would pave the way for final IPO procedures such as the filing of the securities prospectus and book building. Given this progress, market watchers had expected LG Electronics India to move swiftly and make its stock market debut as early as next month. However, the company is reportedly still considering the optimal timing for the submission. Reflecting on the deliberation, Bloomberg News reported on Wednesday that LG Electronics India has paused work on the IPO becau

Apr 23, 2025By Nam Hyun-woo
LG Electronics India IPO bid slows down

China's Huayou to replace LGES in Indonesian EV battery project, minister says

China's Zhejiang Huayou Cobalt is replacing Korea's LG Energy Solution (LGES) as a strategic investor in one of Indonesia's major electric vehicle (EV) battery projects, the country's Energy and Mineral Resources Minister Bahlil Lahadalia said on Wednesday. LGES on Monday announced its withdrawal from the 142 trillion rupiah ($8.42 billion) project. Indonesia is keen to develop domestic processing industries to produce batteries and EVs to take advantage of its rich mineral resources. "Change of investors is a common dynamic in large-scale projects," Bahlil said in a statement, adding that there will be no change to the underlying plans for the project. Huayou would be collaborating with Indonesian state-controlled companies on the project. Bahlil said Indonesia remains committed to using its mineral resources domestically, and the government will ensure a smooth transition for the project. A ground breaking ceremony for a part of the project is planned for later this year, he added, without sharing more details. Huayou's Indonesian unit did not immediately respond to a Reuters request for

Apr 23, 2025By Reuters
China's Huayou to replace LGES in Indonesian EV battery project, minister says

Trump Jr. to visit Korea next week at invitation of Shinsegae chairman

Donald Trump Jr., the eldest son of U.S. President Donald Trump, will visit South Korea next week at the invitation of Shinsegae Group Chairman Chung Yong-jin, a group official said Wednesday. The junior Trump plans to meet with key business officials during his visit to the country, the official said, without disclosing the exact date or other details of his trip. This will be Trump Jr.'s first visit to Korea since the inauguration of his father in January. It will come as Korea businesses have been grappling with a series of new tariffs the Trump administration has imposed on imports to the United States, including those from South Korea. Chung and Trump Jr. are known to be close. In December, Trump Jr. invited the Shinsegae chairman to his father's Mar-a-Lago resort in Florida, which led to a meeting between Chung and then President-elect Trump. Korean business circles reportedly asked Chung to facilitate Trump Jr.'s visit to Korea as a way to establish contact with the Trump administration.

Apr 23, 2025By Yonhap
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman

Mercedes, BMW dealers see earnings drop on promotions

Major dealerships from Mercedes-Benz Korea and BMW Korea have suffered drastic falls in earnings due to an excess of promotional campaigns, data and industry officials said Wednesday. Han Sung Motor, the largest dealer of Mercedes-Benz Korea, reported an operating loss of 64.9 billion won ($45.5 million) last year, 18.1 billion won more than the previous year. Deutsche Motors, the most influential dealership for BMW Korea and MINI Korea, is in a similar situation. Their operating profit also fell to 25 billion won, down more than 40 percent from the previous year. Industry officials argued the earnings decline for luxury carmakers can be attributed to promotional campaigns. “Major dealerships for German carmakers here hold excessive promotional campaigns to remove inventory,” an official from a local carmaker said. “Things will not take a turn for the better unless luxury carmakers’ dealerships stop responding to pressure from carmakers by using cutthroat sales techniques.” According to data from the Financial Supervisory Service, sales for Mercedes-Benz Korea fell by 28.4 perce

Apr 23, 2025By Lee Min-hyung
Mercedes, BMW dealers see earnings drop on promotions

Not a Whopper fan? Burger King says 'no problem'

Burger King, the fast food franchise giant known for its Whopper burgers, has launched a new lineup tailored to meet the demands of Korean consumers, according to BKR, the operator of Burger King, on Wednesday. Krispper, a lineup of chicken burgers, is the company’s new platform for its expanded menu options. The company launched two Krispper burgers during a press conference at one of its Seoul locations and will offer them at all restaurants nationwide on Thursday. The company also unveiled the campaign phrase, “I don’t like Whopper, but I love Krispper.” The company said it launched the new burgers after confirming the rising demand for chicken burgers among consumers in Korea. It launched Krispper for the first time in Asia after its headquarters in Florida approved the region-specific menu options. “Compared to other countries, Korea showed higher demands for chicken burgers,” Park Jin-a from BKR’s external affairs division said. “We started developing the new platform last year ahead of other countries. Because of Korea’s unique global position in food markets, we

Apr 23, 2025By Ko Dong-hwan
Not a Whopper fan? Burger King says 'no problem'

Kiehl’s launches on Coupang’s R.LUX to expand luxury beauty offerings

R.LUX, Coupang’s dedicated luxury platform, announced the official launch of global skincare brand Kiehl’s on Tuesday, expanding its premium beauty portfolio. To celebrate the debut, R.LUX is offering a special promotional event through Sunday. With over 170 years of heritage rooted in New York, Kiehl’s is renowned worldwide for its high-quality skincare products, including cult favorites like its Ultra Facial Cream and Lip Balm #1. The brand’s arrival on R.LUX underscores Coupang’s ongoing strategy to diversify and elevate its luxury beauty offerings. During the launch promotion, R.LUX is featuring a wide array of Kiehl’s signature skincare and body care products. Highlights include the alcohol-free Calendula Herbal-Extract Toner and the Clearly Corrective Dark Spot Solution Essence, which is designed to visibly improve uneven skin tone and reduce dark spots. Other standout products include Crème de Corps body lotion, Liquid Hand Soap and the classic Original Musk Eau de Toilette. Customers who purchase Kiehl’s products during the promotion will receive a complimentary Dai

Apr 23, 2025By Ko Dong-hwan
Kiehl’s launches on Coupang’s R.LUX to expand luxury beauty offerings

KT&G completes tobacco plant in Kazakhstan to supply Europe, CIS region

KT&G completed construction on its first manufacturing plant in Kazakhstan, bolstering its supply chain to better serve cigarette consumers across Central Asia and Europe, Korea’s largest tobacco maker said Wednesday. Located in Almaty Province, the new facility has a total floor area of 52,000 square meters and is equipped with three production lines capable of producing up to 4.5 billion cigarettes annually. KT&G described the plant as its “export outpost and core production base” tailored to meet growing demand from Europe, the Commonwealth of Independent States and the broader Eurasian markets. KT&G CEO Bang Kyung-man attended a completion ceremony at the site on Tuesday (local time), joined by Almaty Governor Sultangaziev Marat Eleusizovich, Korean Ambassador to Kazakhstan Cho Tae-ik and around 100 other guests. “KT&G, with completion of the new Kazakhstan factory, has laid the foundation of its global manufacturing network that will tow our global competitiveness,” Bang said during the ceremony. “KT&G will accept future challenges and expand our global direct business to

Apr 23, 2025By Ko Dong-hwan
KT&G completes tobacco plant in Kazakhstan to supply Europe, CIS region

Pope remembered for humble use of Korean cars, tech during papacy

The death of Pope Francis has drawn attention once again to the humility he showed through his use of various Korean products. When he came to Korea in 2014 for his first trip to Asia as pontiff, he chose Kia's unarmored Soul compact SUV as the popemobile, reportedly asking the Papal Visit Committee to provide the smallest Korean car available. Although Kia's Morning was smaller, the government recommended that he ride in the Soul or Avante (Elantra) of Hyundai Motor, Kia's sister carmaker, to ensure comfort in the back seat. The pope also declined to ride in a luxurious convertible during parades in Seoul and Daejeon. Instead, he opted for Hyundai's Santa Fe and Kia's Carnival, which were remodeled so the faithful could see him in the back seat. Last year, the pontiff traveled in Singapore with Hyundai's Ioniq 5 produced there. The electric vehicle targets drivers in the city state fighting air pollution. "As a Catholic myself, I found great inspiration in his leadership and humility," Hyundai Motor CEO Jose Munoz wrote on social media Tuesday, describing the pope as a true servant leade

Apr 23, 2025By Park Jae-hyuk
Pope remembered for humble use of Korean cars, tech during papacy
previous page
307308309310311
next page

Most Read in Business