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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.

Innocean wins award for short film 'Night Fishing'

Innocean, an advertising affiliate under Hyundai Motor Group, has won a major award from the Spikes Asia 2025 for driving content innovation in a short film — "Night Fishing." The thriller was co-produced by Hyundai Motor and Innocean. The Grand Prix award was given to Innocean in recognition of the firm’s creative role in the innovative 13-minute movie. The film was unveiled last year and drew attention for its unique format. It is a mystery thriller that unfolds near an electric vehicle charging station. Actor Son Suk-ku stars in the movie. "Night Fishing" comes with an unusual production format, as it was filmed from the viewpoint of a vehicle. The movie also marks a fresh direction in brand communication, according to Innocean. The company played a crucial role in harmonizing the work's commercial and artistic values and helped Hyundai Motor maximize its advertising through the release of the film. “We are pleased to have received the top-tier award from the most prestigious advertising event in the Asia-Pacific region,” Innocean CEO Lee Yong-woo said. “Innocean will continu

Apr 28, 2025By Lee Min-hyung
Innocean wins award for short film 'Night Fishing'

Hanjin, LS join forces amid conflicts with Hoban

The proverb "the enemy of my enemy is my friend" may describe the unexpected alliance between two opponents of Hoban Group — Hanjin Group, better known as the parent company of Korean Air, and LS Group, which specializes in cables, power equipment, metal and machinery. Amid their ongoing disputes with the construction-to-media conglomerate, Hanjin and LS announced Monday that they signed a memorandum of understanding for the mutual growth and interests of their respective shareholders. Hoban Construction, the group's flagship construction unit, has emerged as an antagonist of Hanjin Group Chairman Cho Won-tae following its acquisition of shares in Hanjin KAL — the group's holding firm — from KCGI and Pan Ocean. KCGI is an asset management company that backed Cho's younger sister, former Korean Air Vice President Cho Hyun-ah, also known by her English name Heather, when she attempted in 2020 to wrest control of the group from her brother. As the second-largest shareholder of Hanjin KAL with a 17.9 percent stake, the construction firm rejected a proposal at last month's shareholders

Apr 28, 2025By Park Jae-hyuk
Hanjin, LS join forces amid conflicts with Hoban

LS Cable's unit wins submarine power cable deal in Taiwan

LS Cable & System, Korea's biggest cable company, said Monday its unit has received a 22.7 billion-won ($15.8 million) submarine power cable deal in Taiwan. LS Marine Solution will install submarine power cables for Taiwan Power Company's (TPC) offshore wind power plant by May 2026, the company said in a press release. The deal is part of the Taiwanese government's 2.5 trillion-won project to develop facilities capable of generating a total of 20.6 gigawatts of wind power by 2035, it said. It is the first overseas submarine power cable deal won by LS Marine Solution. The company expects the Taiwan project will lead to more opportunities to secure similar deals in global markets. LS Cable acquired the undersea communication cable-focused company from KT Corp. in 2023. It currently owns a 66.75 percent stake in LS Marine Solution.

Apr 28, 2025By Yonhap
LS Cable's unit wins submarine power cable deal in Taiwan

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
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