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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.

Samsung Electronics forecasts $4.49 bil. in Q1 operating profit

Samsung Electronics forecast stable earnings for the first quarter of this year on the back of strong sales of the Galaxy S25 smartphone series and better-than-expected shipments of legacy memory products. In its earnings guidance, the company estimated sales of 79 trillion won ($53.6 billion) and an operating profit of 6.6 trillion won for the January-March period. Sales increased by 9.84 percent year-on-year while operating profit fell by 0.15 percent year-on-year. The estimate outperformed the consensus of various brokerages, which projected the company’s first-quarter revenue and operating profit to be around 77.2 trillion won and 5.11 trillion won, respectively. Since this is an earnings guidance, which discloses a company’s expected financial performance for an upcoming period, Samsung Electronics did not provide a breakdown by business segment. However, it is assumed that strong sales of the Galaxy S25 smartphone series contributed significantly to the overall operating profit, with analysts estimating over 4 trillion won in operating profit for Samsung’s mobile division. Lau

Apr 8, 2025By Nam Hyun-woo
Samsung Electronics forecasts $4.49 bil. in Q1 operating profit

Theborn Korea executive accused of inappropriate conduct during interview with female applicant

An executive at Theborn Korea, the company run by celebrity chef Paik Jong-won, is facing allegations of inappropriate behavior after he invited a female job applicant to a drinking session under the pretext of a second interview. According to JTBC’s investigative program "Crime Chief," which aired on Monday, the woman had applied to become a franchise owner at a traditional market in Yesan County, South Chungcheong Province. She said that after a formal interview, she was contacted by a company executive, identified as “A,” who invited her to what he described as a “second interview,” held over drinks. The applicant said she felt pressured to attend because the invitation came directly from a senior executive. During the meeting, A showed her a YouTube video featuring himself on Paik Jong-won’s channel and made remarks regarding his level of influence within the company. He allegedly said, “The merchants in this video begged me to be selected. I have full authority,” and added, “I can arrange a meeting with CEO Paik.” The executive then allegedly encouraged her to dri

Apr 8, 2025By KTimes
Theborn Korea executive accused of inappropriate conduct during interview with female applicant

Hyundai, Kia shares plunge amid US tariff fears, investor confidence dips

Shares of Hyundai Motor and Kia are rapidly losing momentum as ongoing tariff pressures from the United States continue to fuel investor anxiety both domestically and internationally, according to market analysts and data released Monday. The two automakers have signaled efforts to navigate the ongoing uncertainty by increasing investment in the U.S., their largest export market. However, these efforts have fallen short of alleviating concerns, as their stock values have continued to plummet in recent weeks amid heightened fears over a 25-percent tariff on all auto imports. After U.S. President Donald Trump slapped the massive tariff on Thursday, shares of the two Korean carmakers have extended sharper declines. According to data from the Korea Exchange, Hyundai Motor shares set an all-time high of 299,500 won ($204.5) per share in June last year, but plunged to below 180,000 as of Monday. Shares of Kia also showed a similar trend during the same period, as investors engaged in a mass-selling spree of the carmakers’ shares due to the prevailing tariff uncertainties. Hyundai Motor and K

Apr 8, 2025By Lee Min-hyung
Hyundai, Kia shares plunge amid US tariff fears, investor confidence dips

KG Mobility adds Actyon SUV to lineup in Germany

KG Mobility, a Korean carmaker, said Monday it has added the Actyon sport utility vehicle (SUV) to its lineup in Germany as part of its strategy to boost sales in Europe. It is the second time for KG Mobility to launch the Actyon SUV in an overseas market following the model's introduction in Turkey in January, the company said in a press release. The company currently sells the Musso Sport, Rexton, Tivoli and Korando SUVs in Germany, a country known for its luxury carmakers, such as BMW and Mercedes-Benz. KG Mobility said it will gradually launch the Musso electric vehicle (EV) and the gasoline hybrid version of the Torres SUV in the German market following the Actyon SUV model. Last year, KG Mobility established its subsidiary in Germany to deal with marketing, sales and customer services for local customers. This year, the company aims to sell 5,000 vehicles in Germany, sharply up from 2,186 units sold there in 2024. The SUV-focused carmaker's lineup consists of the Actyon, Tivoli, Korando, Rexton, Torres, all-electric Torres EVX SUV, Musso Sports pickup and Musso EV pickup. The Torres E

Apr 7, 2025By Yonhap
KG Mobility adds Actyon SUV to lineup in Germany

LS intensifies rivalry with Daedong, TYM in Ukraine’s farming equipment market

LS Corp. Vice Chairman and CEO Myung Roe-hyun recently visited Ukraine to discuss with the country's Agrarian Policy and Food Minister, Vitaliy Koval, the possibility of constructing a modernized tractor plant once hostilities cease. His visit signals intensifying competition among Korea's three largest agricultural equipment makers — LS Mtron, Daedong and TYM — to secure a dominant position in the country known as the breadbasket of Europe amid ongoing peace talks to end its three-year war with Russia. According to the Ukrainian agrarian policy ministry, the new factory is expected to be built under a joint venture agreement between a local company and LS Mtron, the machinery unit of LS Group. Ensuring the Ukrainian government's support for the potential joint venture, Koval emphasized that the construction of the tractor plant would be a strategic step in developing the country's agricultural sector. "Since the beginning of the full-scale invasion of Russia into Ukraine, we have lost more than 8,000 units of machinery and equipment, of which over 1,000 units are tractors," he said.

Apr 7, 2025By Park Jae-hyuk
LS intensifies rivalry with Daedong, TYM in Ukraine’s farming equipment market

Innocean’s US subsidiary wins top media agency award

Canvas Worldwide, a subsidiary of Innocean, has been named the 2025 Media Agency of the Year by a prestigious global advertising publication for the agency’s data-driven strategy and innovative performance for clients. According to Innocean, an advertising arm of Hyundai Motor Group, Canvas Worldwide received the award from Campaign US. The achievement came only a decade after the agency's launch in 2015. Canvas was recognized for its data-focused business strategy and outstanding performance to improve the profile of its clients. Campaign US rated highly the agency’s ability to deliver customized and measurable business outcomes for its clients. For instance, Canvas supported Kia in achieving seven consecutive years of growth in the world’s largest economy and helped the carmaker attain record sales for six of its models in the United States. Canvas was established in 2015 as a joint venture between Innocean and Horizon Media. In 2022, Innocean acquired full ownership of Canvas. “We are fully embracing our mission to challenge the comfortable in a world of change through breaking

Apr 7, 2025By Lee Min-hyung
Innocean’s US subsidiary wins top media agency award

Hyundai Mobis opens software-oriented R&D center in India

Hyundai Mobis has opened its software-dedicated R&D center in India, identifying the facility as an advanced base to provide integrated software solutions to global automakers, the auto parts maker said Monday. The company combined two existing research centers into one large-scale R&D base to turn it into its software strategy hub that can handle multiple projects from the early stages of new product development to software development for vehicles, it said. The integrated R&D center is located in the center of India, in Hyderabad, a tech city located in the state of Telangana, with a total floor area of some 24,000 square meters. Hyundai Mobis opened its first Technical Center of India in 2007 and established its second research center there in 2020. The latest integrated R&D center will accommodate the increasing number of software personnel and combine the firm’s dispersed research centers to maximize efficiency. The opening of the research facility shows the growing importance of software and auto parts for major carmakers in an era of software-defined vehicles. Hyundai Mobis has c

Apr 7, 2025By Lee Min-hyung
Hyundai Mobis opens software-oriented R&D center in India

LG Electronics Q1 operating profit down due to rising costs

LG Electronics said Monday its first-quarter operating profit is estimated to have decreased 5.7 percent from a year earlier due to rising logistics costs. Operating profit for the three months ending in March came to an estimated 1.25 trillion won ($856.7 million), down 5.7 percent from a year earlier, the company said in a regulatory filing. Its revenue increased 7.8 percent on-year to 22.74 trillion won, surpassing the 22 trillion-won level for the first time in any first quarter. The operating profit is 6.2 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The company said its operating profit went down due to a rise in shipping costs. However, its business-to-business (B2B) sectors, including electric vehicle components, subscriptions and heating, ventilation and air conditioning (HVAC) businesses, contributed to its steady growth in sales. The flagship home appliances business also showed a solid performance, it added. "Despite escalating uncertainties, we pulled off record high quarterly sales in the first

Apr 7, 2025By Yonhap
LG Electronics Q1 operating profit down due to rising costs

Hyundai Mobis opens integrated R&D center in India

Hyundai Mobis, Korea's leading auto parts maker, said Monday it has opened an integrated research and development (R&D) center in India as a global strategic hub dedicated to automotive software. Hyundai Mobis has combined two existing R&D centers in India into one large-scale R&D base to participate in more R&D projects led by its parent Hyundai Motor Group and to supply mobility solutions for vehicles developed by the group and global carmakers, the company said in a press release. "Based on our nearly 20 years of experience in developing mobility solutions for production vehicles, we will promote the advancement of software and contribute to improving product competitiveness," Lee Jong-keun, head of Hyundai Mobis Technical Center of India, said in the release. Located in the center of Hyderabad, the new integrated R&D center is aimed at meeting a rising demand for automotive software solutions in the world's most populous country, it said. India's automobile market is expected to grow to 6.2 million vehicles by 2028 from the current 5.2 million units per year, the third largest in the

Apr 7, 2025By Yonhap
Hyundai Mobis opens integrated R&D center in India

Samsung Electronics to overcome US tariff challenges through production allocation

Samsung Electronics said Monday it plans to leverage its global production network to navigate new U.S. tariff policies, including reciprocal duties that target goods from nearly all countries, including Korea. "We sell TVs, monitors and sound bars in the United States, with TVs making up the majority," Yong Seok-woo, president and head of the visual display business at Samsung Electronics, said in a press conference. "Most of those TVs are produced in Mexico." Last week, U.S. President Donald Trump announced plans to impose a minimum 10 percent baseline tariff on all imports to the United States and country-specific reciprocal tariffs that include 25 percent duties for Korea. Goods from Mexico and Canada are not subject to the new tariff schemes. "The impact of the new reciprocal tariffs is slim, but we are monitoring the situation closely as U.S. trade policies continue to evolve," he said. "With 10 production bases globally, we plan to overcome these challenges through strategic production allocation." Samsung currently produces TVs in several countries, including India and Vietnam. Wh

Apr 7, 2025By Yonhap
Samsung Electronics to overcome US tariff challenges through production allocation
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