Business - The Korea Times

New device chief calls for 'one Samsung' amid wavering over in-house chips

Roh Tae-moon, Samsung Electronics’ new head of its mobile and home appliance division, stressed “one Samsung” as a company motto in his first official message to employees Friday, amid the tech giant’s wavering over the use of in-house chips for Galaxy smartphones. Roh sent an email to the company’s Device Experience (DX) division staffers and stressed the need for “organic cooperation across business divisions” in creating greater values, according to sources. “Let’s work beyond organizational boundaries and combine our strengths,” Roh said. “Under the motto of one Samsung, we should pursue organic cooperation across business divisions.” Samsung Electronics is comprised of the DX division, which encompasses home appliances and smartphone sub-divisions, and the Device Solution (DS) division, which is in charge of semiconductor and memory chips. Roh, who is the president of the smartphone division, became the acting head of the DX division on April 1, following the death of Han Jong-hee, former Samsung Electronics CEO, vice chairman and head of the DX division. “O

Apr 11, 2025By Nam Hyun-woo

New device chief calls for 'one Samsung' amid wavering over in-house chips

Starbucks to launch its first kiosks in Seoul next month

Starbucks Korea will introduce self-service kiosks in May, breaking with the company’s long-held principle of in-person ordering, according to a report Thursday by the Kukmin Ilbo. The pilot location will open in Myeong-dong, a bustling commercial district in Seoul popular with tourists, marking the global coffee chain’s first such store in Korea. The move highlights a shift in priorities for Starbucks, which has long emphasized personalized customer interaction. The introduction of kiosks, however, reflects a growing focus on operational efficiency and customer convenience amid high foot traffic and evolving consumer behavior. According to the report, Starbucks Korea plans to install self-service kiosks at its Myeong-dong location to streamline operations and alleviate congestion during peak hours. While the idea has been under review since late last year, the launch was delayed due to the brand’s extensive customization options and complex menu offerings. Following the pilot, Starbucks Korea is considering expanding kiosks to other areas with high traffic or where language barrie

Apr 11, 2025By KTimes

Starbucks to launch its first kiosks in Seoul next month

Seoul’s first IKEA store gets out of signature ‘blue box’

Swedish home furnishing giant IKEA will open its first Seoul store next week, giving up the brand’s signature “blue box” architecture to localize it inside a new business complex in the city’s easternmost district. Located inside Godeok Biz Valley in Gangdong District, the fifth IKEA store in Korea is nestled inside the mega business and shopping complex, drawing interest from local residents. Gangdong is the fourth largest district in Seoul, with a population over 490,000 and new subway lines under development. The two-story, 25,000-square-meter store showcases 7,400 items, of which half are available for immediate pickup. IKEA Korea said the items will “help solve home furnishing for residences including a 66-square-meter apartment suite that accounts for many residences in the district.” The company said the store created 200 new jobs, 43 percent of which are filled by Gangdong residents. It added it chose Gangdong because of its convenient access to highways and public transportation. Isabel Puig, president of IKEA Korea and chief sustainability officer, called the store

Apr 11, 2025By Ko Dong-hwan

Seoul’s first IKEA store gets out of signature ‘blue box’

Korea’s political divide spills into food franchise industry

Jadam Chicken’s headquarters recently apologized to customers after one of its franchisees in Incheon displayed a politically charged message on an electronic signboard outside the store on April 4 — the day of former President Yoon Suk Yeol’s impeachment ruling. The message read: “The respondent, President Yoon Suk Yeol, is hereby removed from office. Thank you, my fellow citizens.” The company emphasized that the franchisee’s actions do not reflect its official stance, adding that an executive visited the location on Monday to issue a warning to the owner. The franchisee also issued a public apology. “I sincerely apologize for causing a controversy with politically inappropriate comments in front of my store,” he wrote on the same signboard. The apologies came amid growing consumer backlash and boycott threats against the fried chicken brand. Supporters of Yoon began flooding review platforms with negative ratings, calling the store “the worst,” while those who supported impeachment praised the message. Jadam Chicken said that repeated incidents could lead to contract

Apr 11, 2025By Park Jae-hyuk

Korea’s political divide spills into food franchise industry

Strengthening dollar, yen weigh on Korean aviation players

Korean airlines are facing a potential double whammy from the strengthening U.S. dollar and Japanese yen, as the macroeconomic uncertainty leaves them more vulnerable to risks on increased fuel costs and a decline in travel demand, data and market analysts said Thursday. The exchange rate volatility was triggered by U.S. President Donald Trump’s wayward trade policy. With his tariff threat creating serious repercussions around the world, investors’ preference for the dollar has shown no signs of abating in recent months. Reflecting on the escalating geopolitical uncertainty, the dollar is strengthening its valuation against the Korean won much faster than expected, as evidenced by the recent surge in the won-dollar exchange rate. The figure closed at 1,484.1 won per dollar on Wednesday, the highest closing price since March 2009. The dollar closed at 1,478.33 won on Dec. 31, 2024. This comes as a challenge to Korean Air and a group of low-cost carriers (LCCs), which will have to increase their spending for fuel costs paid in dollars. Of particular concern is that there is no clear s

Apr 11, 2025By Lee Min-hyung

Strengthening dollar, yen weigh on Korean aviation players

US tariff pause offers temporary reprieve to Korean economy

Korea bought time to negotiate on U.S. tariffs, as President Donald Trump on Wednesday (local time) suspended "reciprocal" tariffs on dozens of countries, including Korea, for 90 days. However, risks to the Korean economy still remain amid escalating retaliatory measures by the U.S. and China against each other, with the U.S. levies on China, Korea’s largest trading partner, amounting to 125 percent. In a social media post, Trump said more than 75 countries have reached out to the U.S. for tariff negotiations and he “authorized a 90 day PAUSE and a substantially lowered Reciprocal Tariffs during this period of 10 percent.” At the same time, he increased duties on China to 125 percent following Beijing's retaliatory move. Korea was initially faced with a 25 percent reciprocal tariff, which took effect on Wednesday. To defy the impacts on its export-reliant economy, the Korean government has been striving to engage with the U.S., with Seoul’s Minister of Trade Cheong In-kyo meeting U.S. Trade Representative Jamieson Greer in Washington Tuesday (local time). “The latest reprieve ca

Apr 10, 2025By Nam Hyun-woo

US tariff pause offers temporary reprieve to Korean economy

LS Cable & System secures $137 mil. power cable order in Singapore

LS Cable & System has secured a high-voltage power cable order worth 200 billion won ($137 million) from Singapore’s national electricity provider, the company said Thursday. The contract with Singapore PowerGrid allows LS Cable to enhance its global presence in the underground power cable market. The project is part of a large-scale energy infrastructure initiative to transmit solar-generated electricity from Indonesia to Singapore. LS Cable will supply its 230-kilovolt high-voltage underground cables. The company clinched the contract on a turnkey basis, meaning that it will be involved in all stages of the project, including cable manufacturing, construction and installation, the company said. The LS affiliate is also in talks to win an additional underground cable order worth 150 billion won there. If finalized, the total contract will be valued at 350 billion won. "The project strengthens our position in the underground cable market and opens opportunities to expand into the submarine cable sector," an official from the company said. "LS Cable outpaced its rivals amid toughening glo

Apr 10, 2025By Lee Min-hyung

LS Cable & System secures $137 mil. power cable order in Singapore

Paldo, Thai food firm sign partnership deal for Southeast Asian markets

Korean food company Paldo said Thursday it has signed an initial pact with Thailand's leading conglomerate for business cooperation in Southeast Asian markets. Paldo and Charoen Pokphand (CPup have signed a memorandum of understanding (MOU) to jointly develop new products, expand offline sales networks and launch localized products for customers in Thailand and other Southeast Asian markets, the company said in a press release. It is the first time Paldo signed an MOU with a local company in Thailand for its business expansion. The company has exported its products, including its famous instant noodle, or "ramyeon," product Paldo Bibimmyeon to Thailand. CP Group has a wide range of businesses from food, distribution to telecommunications.

Apr 10, 2025By Yonhap

Paldo, Thai food firm sign partnership deal for Southeast Asian markets

Hall of Fame unveiled for LG Awards winners

LG Group unveiled a new Hall of Fame honoring LG Awards winners during this year's awards ceremony in Icheon, Gyeonggi Province, on Wednesday. The event, now in its seventh year, honors innovative products and services that have transformed customers’ lives. Since its launch in 2019, it has recognized a total of 492 teams and more than 4,000 individual awardees. This year's edition had about 500 people in attendance, including LG Group Chairman Koo Kwang-mo, its executives, consumer representatives and award winners. This year, a total of 87 teams and 680 individuals were honored, including three teams that received the “Customer Impression Grand Award." The award recognizes achievements based on criteria such as exceeding consumer expectations, making meaningful changes in consumers’ lives and demonstrating potential for innovations to become standard practices or processes. The winners are selected through a thorough evaluation from both consumers and employees, collecting opinions from a range of people, from experts to foreigners and housewives to younger generations. An LG Elec

Apr 10, 2025By Lee Gyu-lee

Hall of Fame unveiled
for LG Awards winners

Samsung, LG air conditioner sales surge ahead of summer

Sales of air conditioners from Samsung Electronics and LG Electronics grew sharply from a year earlier in the first quarter as consumers brace for what is expected to be an unusually hot summer, the companies said Thursday. Samsung Electronics said sales of its home air conditioners jumped 51 percent year-on-year in the January-March period. Sales in March alone surged 61 percent compared with the same month last year. LG Electronics said its first-quarter sales of air conditioners spiked 60 percent from a year earlier, with sales in March skyrocketing 80 percent year-on-year. Both companies said they have been operating their air conditioner production lines at full capacity to meet the soaring demand. In its annual climate outlook, the Korea Meteorological Administration forecast a 60 percent chance that the summer of 2025 will be hotter than average.