Business - The Korea Times

Kakao Games says no decision made on merger with Line Games

Kakao Games Corp. said no decision has been made regarding a potential merger with Line Games Corp., a game publishing company under the Japanese tech firm LY Corp., during a shareholder meeting held Monday. "Nothing has been decided yet over a merger. But we could say there will be business partnerships," the game company's chief financial officer (CFO), said, noting the mobile game SMiniz created under a partnership between Line Games and SM Entertainment. Market watchers have widely speculated that Kakao Games could merge with Line Games, after its largest shareholder was changed to an investment purpose company called LAAA Investment, backed by LY Corp., or Line Yahoo, since last week. LAAA Investment has also participated in the capital increase and the issuance of convertible bonds worth a combined 300 billion won ($200.4 million). The Kakao Games CFO said the company plans to penetrate new markets, particularly the Southeast Asia region, saying that Line has started to gain a strong foothold in the mobile market there. "We plan to target the new market in a manner similar to the pa

Jun 22, 2026By Yonhap

Kakao Games says no decision made on merger with Line Games

Starbucks Korea to close all stores early to carry out history training after 'Tank Day' promotion backlash

Starbucks Korea will close all of its stores nationwide early Monday to provide employee training aimed at improving historical awareness and social sensitivity, following a controversial promotion linked to the 1980 pro-democracy uprising in Gwangju. All 2,160 stores across the country will close at 3 p.m. It marks the first time Starbucks Korea has ended operations early nationwide since opening its first outlet in 1999. Starbucks Korea, operated by E-Mart Inc., a unit of Shinsegae Group, launched an online "Tank Day" promotion on May 18, the anniversary of the Gwangju pro-democracy uprising. The event was suspended within hours after drawing widespread public criticism. "The program will consist of a brand value workshop designed to enhance employees' understanding of historical awareness, social sensitivity, and the values and mission that Starbucks seeks to uphold," a company official said. Shinsegae Group Chairman Chung Yong-jin and other senior executives will also participate in the same training program Wednesday. The controversy stemmed from a promotional campaign offering disco

Jun 22, 2026By Yonhap

Starbucks Korea to close all stores early to carry out history training after 'Tank Day' promotion backlash

Carmakers intensify rivalry in SDVs

Global automakers are shifting the competitive battleground in Korea from traditional hardware to software-defined vehicles (SDVs), as cutting-edge operating systems and in-vehicle artificial intelligence (AI) functions emerge as key differentiators in an era of connected cars. The trend is visible, as a wave of new models launched this year are positioning advanced software capabilities as their definitive selling points. They include Hyundai Motor’s Grandeur, BMW Korea’s iX3, Toyota Motor Korea’s RAV4 and Zeekr’s 7X. Toyota is the latest carmaker to join the SDV competition. Last week, the Japanese carmaker launched its six-generation RAV4 flagship SUV built on its foundational SDV platform, Arene. Of particular note is that Toyota collaborated with LG Uplus to integrate tailored connected-car services to adapt the vehicle for the tech-savvy Korean market. The telecom operator also identifies the automotive infotainment as its next key growth driver. European and Chinese competitors are also raising the stakes with high-performance computing hardware. BMW Korea’s recently laun

Jun 22, 2026By Lee Min-hyung

LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

Senior executives from LG Group’s key affiliates are set to visit Nvidia’s headquarters in California, Monday (local time), to hammer out practical business cooperation in physical artificial intelligence (AI) and robotics. The high-level visit comes just two weeks after Nvidia CEO Jensen Huang visited LG Group Chairman Koo Kwang-mo and at his corporate headquarters in Seoul for a landmark meeting. At that time, the two tech leaders agreed to solidify a comprehensive partnership across the AI ecosystem, including the co-development of reference robots, AI infrastructure and future mobility. The upcoming meeting in California underscores how rapidly the road map for cooperation between the two tech giants is taking shape. A large-scale working group of around 30 LG executives will fly to the U.S., including LG CNS CEO Hyun Shin-gyoon, LG Electronics Chief Technology Officer Kim Byoung-hoon and LG Sciencepark head Jeong Su-heon. Experts from LG AI Research will also join the delegation. The executives are also expected to pitch the so-called "One LG" strategy, pooling the core capabilit

Jun 21, 2026By Lee Min-hyung

LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

Korean battery makers accelerate push into US ESS market

Major battery makers are ramping up efforts to expand in the U.S. energy storage system (ESS) market, driven by surging demand from artificial intelligence (AI) data centers and a shift away from Chinese supply chains, as they seek to offset slowing electric vehicle (EV) demand. The pivot comes as EV demand weakens due to reduced subsidies, high interest rates and intensifying competition, prompting LG Energy Solution, Samsung SDI and SK On to repurpose some EV battery production capacity for stationary energy storage. According to BloombergNEF, the U.S. ESS market is projected to grow from 51 gigawatt-hours (GWh) in 2023 to 485 GWh by 2030 and 976 GWh by 2035. Especially with the Trump administration’s One Big Beautiful Bill Act tightening restrictions on Chinese battery components in projects seeking investment tax credits, developers have accelerated efforts to diversify supply chains, creating fresh opportunities for manufacturers with North American production capacity. LG Energy Solution is moving aggressively to capitalize on the shift. The company operates five ESS manufacturin

Jun 21, 2026By Lee Gyu-lee

Korean battery makers accelerate push into US ESS market

Coway targets smaller households with compact food waste processor

As households continue to shrink, home appliance makers are redesigning products for increasingly compact living spaces, with Coway introducing a small-format food waste processor aimed at single and two-person households. According to the Ministry of Data and Statistics, single-person households topped 8 million for the first time in 2024, accounting for 36.1 percent of all households, while the average household size is projected to fall to around 1.8 people by 2052. This demographic shift is compressing kitchen spaces, fueling demand for compact and multifunctional appliances tailored to smaller households. To address these changing needs, Coway recently launched its Zero food waste processor series. The 2-liter model measures just 18.9 centimeters in width, making it one of the smallest food waste processors in Korea. It is compact enough to fit into narrow spaces alongside sinks, which is a key consideration in studio apartments where kitchen and living spaces are often integrated. “The product reflects changes in household structures and kitchen environments,” a company official

Jun 21, 2026By Lee Gyu-lee

Coway targets smaller households with compact food waste processor

Korea mounts final push for Canada's $39 bil. submarine project

The Korean government and defense players are making last-ditch efforts to win Canada’s next-generation submarine project worth up to 60 trillion won ($39.14 billion), as Ottawa is expected to select a preferred bidder by the end of this month. Under the Canadian Patrol Submarine Project, the Royal Canadian Navy’s aging fleet of four Victoria-class submarines will be replaced with 12 new 3,000-ton diesel-electric vessels. The comprehensive contract includes long-term maintenance, repair and overhaul (MRO) lifecycles. With a decision looming, Seoul has elevated its bid to top-tier head-of-state diplomacy, seeking to give Korea’s consortium, led by Hanwha Ocean, an edge over rival bidder TKMS of Germany — a traditional heavyweight in submarine technology — in the closely contested race. President Lee Jae Myung recently provided critical diplomatic backing during a bilateral summit with Canadian Prime Minister Mark Carney on the sidelines of the Group of Seven summit in Evian-les-Bains, France. Lee said he emphasized Korea’s readiness to contribute to Canada’s defense capabil

Jun 21, 2026By Lee Min-hyung

Korea mounts final push for Canada's $39 bil. submarine project

Samsung reviews HBM sales strategy, long-term agreements with key customers

Samsung Electronics discussed ways to expand sales of high-bandwidth memory (HBM) chips and reviewed long-term supply agreements with major customers at a recent global strategy meeting, industry sources said Sunday. The world's largest memory chipmaker held its semiannual global strategy meeting last week to review first-half performance and outline business strategies for the second half of the year, amid surging demand for high-performance chips used in artificial intelligence (AI) applications. During Thursday's meeting, chaired by Jun Young-hyun, head of Samsung's device solution division, senior executives reviewed strategies to expand HBM sales and discussed long-term supply agreements with global technology companies, according to the sources familiar with the matter. HBM was one of the key agenda items, as Samsung steps up efforts to strengthen its position in the rapidly growing market for AI-related semiconductors. Samsung began mass production shipments of HBM4 in February, becoming the first company in the world to do so. Last month, it also became the first in the industry

Jun 21, 2026By Yonhap

Samsung reviews HBM sales strategy, long-term agreements with key customers

Korean trading cards rising assets for global collectors

Collectable trading cards are becoming increasingly profitable for Korean sellers as demand surges in the global market, with some cards selling for tens of thousands of dollars. According to global e-commerce platform eBay, Korean sellers of trading cards recorded double-digit year-on-year sales growth in the first quarter. Their overall sales on the platform ranked 10th by country in 2024 and spiked to sixth the following year. As of the first quarter, the figure rose to third. Korean sellers’ trading cards are largely categorized into intellectual property (IP) characters and sports. Their values are determined by their rarity and grade by third-party valuation. At the center of the Korean sellers’ market presence is Pokemon, a wildly popular franchise spanning games, anime, movies and trading cards introduced in 1996. Celebrating its 30th anniversary this year, the animation’s trading cards have recently seen explosive demand, topping an IP chart with the 10 highest sales among Korean sellers on eBay. Behind the Korean sellers’ popularity is a rising global demand for trading

Jun 20, 2026By Ko Dong-hwan

Korean trading cards rising assets for global collectors

Hope grows for Korean firms to join supply chains of Elon Musk empire

As Elon Musk's business empire continues to expand, expectations are rising for Korean firms to deepen their presence in supply chains spanning semiconductors, chipmaking equipment and telecommunications. According to industry officials, HPSP, a domestic semiconductor equipment maker, has recently received purchase orders for its High-Pressure Hydrogen Annealing (HPA) pilot equipment for Tesla's Terafab. HPA is a front-end process that uses highly compressed hydrogen gas to heat-treat semiconductor wafers, helping reduce leakage currents and improve power efficiency. The technology has been widely used in foundry manufacturing and is increasingly being adopted for advanced memory chips. HPSP is the leading player in the global HPA market. Terafab is a $119 billion semiconductor project in Texas aimed at establishing a semiconductor and artificial intelligence (AI)chip manufacturing ecosystem involving Tesla, SpaceX and Intel. The facility is expected to supply chips needed for computing infrastructure supporting SpaceX operations, Tesla's autonomous driving and robotics technologies and

Jun 19, 2026By Nam Hyun-woo

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