Business - The Korea Times

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

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

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