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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.

GM Korea to increase vehicle production amid US tariff-related exit concerns

GM Korea, the Korean unit of General Motors GM), plans to increase production at its Incheon plant by about 9 percent this year, the company's labor union said Wednesday, easing concerns over a potential withdrawal amid growing uncertainty over the United States' tariff policies. According to the union, the company recently said it would allocate an additional 21,000 vehicles to the plant in Bupyeong, Incheon, west of Seoul, for production this year. The increase amounts to nearly 9 percent of the plant's annual production capacity of 250,000 units. The move comes as speculation has grown about a possible exit of GM from Korea in response to Washington's 25 percent tariff on imported vehicles. GM Korea ships about 85 percent of its exports to America. According to the union, the added production volume signals that GM intends to maintain the Korean base as a key export hub. "The decision to boost production will likely ease some of the anxiety among our members," a union official said. The union plans to hold a meeting with management to reflect the updated production plan in next month's w

Apr 16, 2025By Yonhap
GM Korea to increase vehicle production amid US tariff-related exit concerns

Renault Korea to balance exports, domestic sales for sustainable growth: CEO

Renault Korea will achieve sustainable growth by “balancing exports and domestic sales” in the hyper-competitive automotive market here, its CEO Stéphane Deblaise said during a recent interview. The carmaker made a surprise comeback last year with the successful launch of its flagship Grand Koleos SUV — the first new model the company introduced for Korea after a four-year hiatus. The head of the French carmaker’s local subsidiary expressed confidence in extending its winning streak by placing a strategic focus on spurring growth both in exports and domestic sales on an equal footing. “I think it is most ideal to be able to sell 50 percent of each of the total sales in the domestic and export markets,” he told The Korea Times at its flagship store in Seoul, April 4. Unlike most other foreign-based carmakers here, Renault Korea has its own production lines in the nation’s southeastern port city of Busan. The facility manufactures its vehicles for customers here and abroad. Buoyed by the Grand Koleos' robust sales, Renault Korea’s overall sales are on a solid recovery track

Apr 16, 2025By Lee Min-hyung
Renault Korea to balance exports, domestic sales for sustainable growth: CEO

LG CNS partners with Google Cloud to diversify AI solutions in APAC region

LG CNS said Tuesday it will collaborate with Google Cloud to diversify its cloud-based AI transformation (AX) business across the Asia Pacific and Americas regions. Company CEO Hyun Shin-gyoon recently met with Google Cloud CEO Thomas Kurian and Karan Baz, general manager for Asia Pacific, at the Google Cloud Next 2025 event in Las Vegas to strengthen cooperation between the two companies. The partnership aims to expand AX business collaboration across industries. LG CNS will combine its cloud and AI expertise, cross-sector industry knowledge and IT service capabilities with Google Cloud’s generative AI and cloud solutions to help companies across APAC and the Americas adopt enterprise-wide AI. The Korean company plans to develop hundreds of generative AI services using Google’s AI model Gemini and its enterprise AI platform Vertex AI. The services will target industries including manufacturing, finance, retail, telecommunications and the public sector. LG CNS is particularly focused on leading the fast-growing health care and biotech AX market. According to the Korea Biotechnology I

Apr 15, 2025By Nam Hyun-woo
LG CNS partners with Google Cloud to diversify AI solutions in APAC region

US scientists verify red ginseng functions, boost KGC's health supplement business

Scientists in the United States have verified the health benefits of red ginseng, paving the way for Korea's largest ginseng extract maker to expand its presence in the global market. The latest findings on red ginseng were among the key topics discussed at the International Conference on the Science of Botanicals, held from April 7 to Thursday in Oxford, Mississippi. The event was organized by the U.S.-based National Center for Natural Products Research (NCNPR). Officials from the U.S. Food and Drug Administration, the Department of Agriculture,the National Science Foundation and the National Institutes of Health, as well as professors and researchers, were part of some 400 attendees at the event. Amir Rafie of Valiance Clinical Research in Los Angeles was among the presenters at the conference, according to Korea Ginseng Corp. (KGC), the developer of red ginseng extract products under its flagship brand JungKwanJang. He shared findings indicating that red ginseng intake contributes to improved cardiovascular health. Rafie confirmed the result through clinical studies on 108 adults. The

Apr 15, 2025By Ko Dong-hwan
US scientists verify red ginseng functions, boost KGC's health supplement business

HS Hyosung vice chair steps up outreach before APEC summit

HS Hyosung Vice Chairman Cho Hyun-sang is stepping up outreach efforts ahead of the upcoming Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, North Gyeongsang Province, as part of his mission to strengthen the global presence of Korean businesses. Cho is the chair of the 2025 APEC Business Advisory Council (ABAC), a platform for private-sector discussions for regional economic cooperation between representatives from the 21 APEC member economies. As ABAC chair, Cho will lead four ABAC meetings this year and preside over a number of other key events, including the ABAC Dialogue with APEC Leaders, which will take place during the APEC summit’s run in October. During the ABAC meetings, business representatives from member economies gather to draft policy recommendations for enhancing regional economic cooperation. These recommendations are then formally presented to APEC leaders during the dialogue, serving as a basis for policy coordination and collaboration among member governments. According to HS Hyosung, Cho presided over this year’s first ABAC meeting in Brisbane, Austr

Apr 15, 2025By Nam Hyun-woo
HS Hyosung vice chair steps up outreach before APEC summit

Baemin faces backlash over new 'takeout' fee for restaurants

Woowa Brothers, operator of the country’s largest online food delivery platform Baedal Minjok, or Baemin, has faced backlash after introducing an additional fee for takeout orders charged to business users. The new fee, which took effect Monday, has drawn criticism primarily from businesses that depend on the platform for orders. They say the additional fee will further shrink their profitability, describing the measure as unfair. Woowa Brothers, owned by German food delivery giant Delivery Hero, started charging its business members a 6.8 percent fee Monday for each takeout order received through the platform. Takeout orders account for about 5 percent of the platform’s transactions, with the remainder consisting of doorstep deliveries. Each delivery order through the platform charges businesses up to 7.8 percent. There is also a separate “payment fee” for the businesses up to 3 percent. For a 20,000 won ($14.05) takeout order, the businesses now must pay up to 1,960 won to Woowa Brothers. Businesses using Baemin, upset with the new fee, have begun posting online about their dec

Apr 15, 2025By Ko Dong-hwan
Baemin faces backlash over new 'takeout' fee for restaurants

Hanwha to sign initial agreement with Poland's WB Group for joint missile venture

Hanwha Aerospace said Tuesday it plans to sign an agreement with Polish defense firm WB Group on the basic terms for an envisioned joint missile venture in the European nation. The two sides plan to sign what is known as a term sheet, a non-binding agreement that will outline the key terms and conditions of the envisioned joint venture, later in the day in Warsaw. Under the agreement, Hanwha Aerospace will hold a 51 percent stake, while WB Electronics, a subsidiary of WB Group, will hold the remaining 49 percent in the joint venture. The venture will support local production of the 80-kilometer-range Chunmoo guided missiles for the Polish military, and the two sides also plan to explore future exports to other European markets. A binding final contract is expected to be signed at a later date. Hanwha previously signed contracts totaling 7.2 trillion won ($5.06 billion) with Poland's armament agency since 2022 for the supply of Chunmoo missiles. In September, the two sides signed a memorandum of understanding (MOU) to produce guided rockets for the Chunmoo multiple launch rocket systems in

Apr 15, 2025By Yonhap
Hanwha to sign initial agreement with Poland's WB Group for joint missile venture

Orion to invest $584 mil. in facilities for growth

Orion, a major Korean confectionery company, said Tuesday it will invest 830 billion won ($584 million) in its production facilities to sharply drive up its sales in the coming years. Orion will invest 460 billion won to build an integrated "one-stop" facility to handle processes from production to logistics in Jincheon, about 90 kilometers south of Seoul, by 2027, the company said in a press release. Orion, best known for its iconic Choco Pie, currently operates six domestic plants and 11 overseas facilities — six in China, two in Vietnam, two in Russia and one in India. The company also plans to expand its overseas production facilities in Russia and Vietnam to meet rising demand for its confectionery and beverage products. In Russia, Orion will spend 240 billion won to upgrade one of its two plants. In Vietnam, it will inject 130 billion won to expand one of its two factories with a plan to build the third one by 2026, the release said. Helped by expanded production facilities, Orion aims to achieve an operating profit of 1 trillion won on sales of 5 trillion won in the long term. The

Apr 15, 2025By Yonhap
Orion to invest $584 mil. in facilities for growth

Hyundai Motor brings in former US congressman to lead Washington office

Hyundai Motor Group said Tuesday it has named former U.S. congressman Drew Ferguson as the director of its Washington D.C. office. The new director, who begins his role May 1, will oversee all communication between the company and the U.S. government. “With his deep understanding of the overall U.S. legislative process and experience coordinating various policies, Director Ferguson is expected to play a key role in further solidifying Hyundai Motor Group's cooperation with the U.S. government and policymakers in the automotive industry and future technology areas such as robotics and urban air mobility,” the company said in a press release. Ferguson is a former four-term Republican congressman from Georgia, serving from 2017 to 2024. From 2019 to 2023, he was chief deputy whip for House Republicans and is known for his deep understanding of U.S. President Donald Trump administration’s policies. He chaired the subcommittee on social security for the Committee on Ways and Means, and served as a member of the Committee on the Budget and the Joint Economic Committee. The director active

Apr 15, 2025By Lee Gyu-lee
Hyundai Motor brings in former US congressman to lead Washington office

RDA promotes Korean agriculture diplomacy with developing nations

With global food security as one of its key goals, the Rural Development Administration (RDA) is committed not only to sharing agricultural technology but also to advancing global agriculture through comprehensive international cooperation to address food security challenges. The RDA, a state-run agricultural research agency in Korea, has recently outlined three specific goals: maximizing the global impact of its official development assistance (ODA) projects, strengthening its global research and development networks and exporting Korean agricultural technology to where it is most needed. These initiatives are part of the agency's ongoing efforts to support developing countries with vulnerable domestic food supplies, the agency said. Through its ODA programs, the RDA supports the development of customized agricultural technologies tailored to the specific needs of individual developing countries, while also addressing shared agricultural challenges across regions. These efforts are made through centers in over 20 countries operated by the RDA’s Korea Partnership for Innovation of Agr

Apr 15, 2025By Ko Dong-hwan
RDA promotes Korean agriculture diplomacy with developing nations
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