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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.

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

Korea Zinc offices raided over probe into plan to sell new shares

Prosecutors on Wednesday raided the headquarters and offices of Korea Zinc over their probe into a plan to sell new shares by the world's largest zinc smelter. The Seoul Southern District Prosecutors Office sent prosecutors and investigators to search six offices and five residences of Korea Zinc's executives to secure evidence. Prosecutors suspect that Korea Zinc's plan to sell new shares, announced in October last year, may constitute an unfair trading practice and violate the Financial Investment Services and Capital Markets Act. Financial regulators have asked prosecutors to investigate the case, saying that it was linked with unfair practices.

Apr 23, 2025By Yonhap
Korea Zinc offices raided over probe into plan to sell new shares

Korean Air wins bid for UH-60 Black Hawk helicopters upgrade project

Korean Air has been named the preferred bidder for a project to upgrade the UH-60 helicopters used for Korea’s armed forces, an undertaking worth 961.3 billion won ($673 million). A consortium — led by the national flag carrier — won the bid from the Defense Acquisition Program Administration (DAPA), Wednesday. The consortium also includes LIG Nex1 and Collins Aerospace. The UH-60 Black Hawk serves as a multi-purpose helicopter utilized by the Republic of Korea Army and Air Force for their special operations. The modernization will enhance the performance of a total of 36 UH-60 helicopters. This involves upgrades for digital cockpits, engines, survivability systems and communication suites, according to Korean Air. The airline will also offer integrated depot maintenance and force integration support under the project. The airline’s involvement with the UH-60 includes licensed production between 1991 and 1999. Korean Air currently provides depot maintenance and partial performance upgrades and modifications for the helicopter. Decades of technical expertise in its maintenance were

Apr 23, 2025By Lee Min-hyung
Korean Air wins bid for UH-60 Black Hawk helicopters upgrade project

Naver to release 3 AI models as open source, free for commercial use

Naver, the No. 1 online portal operator in Korea, said Wednesday it will release three lightweight models of homegrown artificial intelligence (AI), HyperCLOVA X, as open source. The new models — HyperCLOVA X SEED 3B, HyperCLOVA X SEED 1.5B and HyperCLOVA X SEED 0.5B — will be available free for commercial purposes, starting from Thursday, according to Naver. Among them, HyperCLOVA X SEED 3B is a visual language model capable of processing not only text but also images and video. It can interpret diagrams, recognize objects and describe photos, making it suitable for a wide range of multimodal applications. According to Naver, the SEED 3B model outperformed comparable U.S. and Chinese models in visual comprehension tasks, based on average scores from nine benchmark tests evaluating Korean and English-language capabilities. Naver said it also plans to introduce an inference AI model based on the flagship HyperCLOVA X within the first half of the year. Additionally, the company will continue enhancing HyperCLOVA X's multimodal functionality, moving beyond text to include images, video a

Apr 23, 2025By Yonhap
Naver to release 3 AI models as open source, free for commercial use

Frozen pizza overtakes dumplings as CU's top-selling convenience food

Frozen pizza has become the top-selling refrigerated food product at CU convenience stores, surpassing dumplings for the first time in terms of sales share, the store chain said Wednesday. From January through Sunday, pizza products accounted for 28.1 percent of CU's refrigerated food sales, outpacing frozen dumplings and chicken products, which accounted for 27.2 percent and 25.8 percent, respectively. Last year, dumplings were the most popular product in the category, accounting for 31.8 percent of frozen food sales, followed by chicken and pizza products, with 25.7 percent and 24.3 percent shares, respectively. The sales share of frozen pizza has been steadily growing from 17.9 percent in 2021 to 22.2 percent in 2023. CU attributed the trend to the rising number of single person households seeking easy-to-prepare meals and the growing variety of frozen pizza products available at its stores.

Apr 23, 2025By Yonhap
Frozen pizza overtakes dumplings as CU's top-selling convenience food

KORAIL clinches Manila subway contract, eyes global railway expansion

Korea Railroad (KORAIL) signed a contract Tuesday with a Filipino company to operate and maintain a planned metro subway line in the Philippines, according to the Ministry of Land, Infrastructure and Transport. The signing marks a significant step in the state-run Korean railway operator’s push to expand its global presence by leveraging advanced technology and operational expertise developed through its high-speed services, including the KTX, which connects cities nationwide, and GTX, which serves the greater Seoul area. KORAIL President & CEO Han Moon-hee met with Ramon Ang, chairman and CEO of San Miguel Corp., in Manila to finalize the partnership for MRT-7, a metro line scheduled for completion and launch in the Filipino capital in December 2026. The 23-kilometer subway line will serve 14 stations across Metro Manila. The two sides agreed that KORAIL will jointly operate the metro line with San Miguel and carry out maintenance work from July until December 2034. KORAIL will oversee a team of 28 experts, including local professionals, to handle subway control, service monitoring,

Apr 23, 2025By Ko Dong-hwan
KORAIL clinches Manila subway contract, eyes global railway expansion
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