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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.

Korea to engage in negotiations with US over tariffs

As the U.S. decided to impose 25 percent “reciprocal” tariffs on Korean imports Wednesday (local time), the country’s government and businesses are bracing for impact, while seeking measures to offset potential damage to the world’s 12th-largest economy. Hours after U.S. President Donald Trump announced the tariff plans, Korea’s acting President and Prime Minister Han Duck-soo presided over an emergency economic strategy meeting of ministers and urged the government to come up with “all available responses.” “Given the gravity of the looming global tariff war, the government must mobilize all available resources to overcome the trade crisis,” Han said during the meeting at Government Complex Seoul. Han instructed Minister of Trade, Industry and Energy Ahn Duk-geun to “work closely with businesses to thoroughly analyze the details and impact of the reciprocal tariffs,” and to “proactively engage in negotiations with U.S. counterparts to contain potential damage,” noting that Trump’s announcement marks the beginning of negotiations. During the "Make America Weal

Apr 3, 2025By Nam Hyun-woo
Korea to engage in negotiations with US over tariffs

Cosmax breaks ground in Thailand for growing ASEAN beauty market

Cosmax, a major original development manufacturing (ODM) company in Korea for beauty product brands, broke ground on its second manufacturing plant in Thailand to boost supply for the country and the Southeast Asian region, according to the company, Wednesday. The new plant’s groundbreaking took place in Bang Phli District on Thursday. The company invested 1.5 billion baht ($43.9 million) into building the four-story structure with a total floor area of 36,000 square meters. The scale is four times larger than the existing plant of the company’s Thai subsidiary, Cosmax Thailand. The new plant's construction is scheduled for completion September 2026. The new plant will triple Cosmax Thailand’s overall production capacity, raising it up to 230 million items per year. The company said the new plant is designed to boost eco-friendly management, reducing voltaic organic compounds emissions and wastewater and recycling production waste. The plant has already acquired certifications from the Thai government for drug safety and halal and vegan qualifications. The new plant’s constructio

Apr 3, 2025By Ko Dong-hwan
Cosmax breaks ground in Thailand for growing ASEAN beauty market

Hybe donates $682,000 for restoration of national heritage damaged in wildfires

K-pop powerhouse Hybe has donated 1 billion won ($682,000) to support the restoration of cultural heritage damaged in Korea's worst wildfires to date, the company announced Wednesday. The donation was made to the Korea Heritage Service (KHS) and the National Trust for Cultural Heritage, an affiliated organization under the KHS dedicated to preserving and managing the country's cultural assets. The funds will be used to repair and restore heritage sites that were either destroyed or damaged by the recent wildfires in the eastern region, as well as to rehabilitate the surrounding environments, the company said. According to authorities, the fires claimed 31 lives and left eight others seriously injured. They also affected 33 cultural heritage sites, including Goun Temple, a recognized UNESCO World Heritage Site. "We extend our deepest sympathies to everyone impacted by the wildfires," Hybe said in a statement. "As a content company rooted in the cultural industry, we hope to contribute even a little to the restoration of national heritage." (Yonhap)

Apr 2, 2025By Yonhap
Hybe donates $682,000 for restoration of national heritage damaged in wildfires

GS E&C completes Southeast Asia's first railway test center

GS Engineering & Construction (E&C) has completed the Singapore Rail Test Centre (SRTC) in western Singapore, which is Southeast Asia's first and the world's 10th comprehensive rail system and train testing facility. The company marked the facility's opening with a ceremony on Friday, inviting its infrastructure division head, Cho Sung-han, and representatives from Singapore’s Land Transportation Authority (LTA). "Through the successful completion of this challenging project, we have gained recognition for our technical capabilities as a global railway construction company," the company said in a statement. "We will strive to enhance the status of Korean construction companies in the global market based on our technical capabilities with overseas construction, as proven in Singapore." The newly completed SRTC includes three new test tracks with a total length of 16.9 kilometers on the 540,000-square-meter site. The center will integrate different power supply methods, vehicle specifications and systems across Singapore's urban railways into one site to test durability, performance, com

Apr 2, 2025By Lee Gyu-lee
GS E&C completes Southeast Asia's first railway test center

Samsung Electronics expected to launch ultra-slim Galaxy S25 Edge by June

Samsung Electronics is expected to release its new ultra-slim Galaxy S25 Edge smartphone by June, according to industry sources Wednesday. While initial rumors had pointed to an April launch, the company is believed to have adjusted its schedule following the sudden death of Vice Chairman Han Jong-hee, who oversaw the company's DX (Device Experience) division, last month. According to the sources, the Galaxy S25 Edge is expected to be positioned between the Galaxy S25 Plus and Ultra models in Samsung's flagship smartphone lineup, aiming to fill the price and performance gap between the two. The new Edge model has drawn attention for supposedly being Samsung's slimmest smartphone to date. While the Galaxy S24 measures 7.6 millimeters in thickness and the S25 measures 7.2 millimeters, foreign media reports suggest the S25 Edge will measure just 5.8 millimeters. The Edge model is expected to be powered by Qualcomm's Snapdragon 8 Elite chip, but speculation remains over whether Samsung will opt to use its in-house Exynos chip instead. (Yonhap)

Apr 2, 2025By Yonhap
Samsung Electronics expected to launch ultra-slim Galaxy S25 Edge by June

Hyundai E&C to empty office building on day of Yoon's impeachment ruling

Companies with offices near the Constitutional Court in Seoul's Jongno District have decided to empty their office buildings on Friday to protect employees from potential violence in response to the ruling on President Yoon Suk Yeol's impeachment that day. Following the police's plan to turn the area around the court into a "vacuum state" and suspend operations at nearby subway stations on the day of the ruling, more companies in downtown Seoul have ordered their workers to stay home. Hyundai Engineering & Construction's (E&C) employees commuting to its headquarters building were asked to work remotely on Friday, except for a minimal number of workers tasked with guarding the building, which is about 100 meters from the court. "Due to possible traffic disruptions and safety concerns, all our head office workers will work from home on Friday," Hyundai E&C said Wednesday, informing reporters of its plan to close its press room on the day of the impeachment ruling. Hyundai Engineering, a subsidiary of Hyundai E&C that uses an office building attached to its parent company's headquarters, al

Apr 2, 2025By Park Jae-hyuk
Hyundai E&C to empty office building on day of Yoon's impeachment ruling

Solar panels, synthetic rubber makers emerge as surprise winners of US tariffs

Makers of photovoltaic (PV) panels and their components in Korea will likely benefit from the U.S. government’s ongoing introduction of new tariffs that target the same products made in China, gaining price competitiveness over Chinese products. A similar shift in the trade environment is also unfolding in the global synthetic rubber industry. The Donald Trump administration has begun targeting China in trades and intensified tariff measures against the major global supplier. Tariff-levied Chinese imports are fueling demands for non-Chinese products in the United States. Korean makers are reacting to the trend, boosting investments in the U.S. to increase local production and supply. The U.S. tariff measures have targeted wafers and polysilicon imported from China, key components of PV panels. Before Trump’s inauguration in January, the Joe Biden administration doubled the U.S. tariff on imported Chinese products from 25 percent to 50 percent. The succeeding U.S. administration slapped an additional 10 percent tariff on the products. The Chinse wafer and polysilicon products in the U

Apr 2, 2025By Ko Dong-hwan
Solar panels, synthetic rubber makers emerge as surprise winners of US tariffs

GKL partners with Robotis to bring AI-powered self-driving robots to casinos

Grand Korea Leisure (GKL), a quasi-public firm operating Seven Luck casinos for foreign nationals in Korea, has clinched a partnership with autonomous robot specialist Robotis to introduce artificial intelligence (AI)-powered self-driving robots customized for casino operations, the companies said Wednesday. Under the agreement signed Tuesday, the two companies plan to establish joint business models and service systems using autonomous robots and deploy the self-driving robots for transporting gaming chips and cards across three Seven Luck casino facilities. They will also participate in a large-scale convergence robot demonstration project by the Ministry of Trade, Industry and Energy. The latest achievement came as part of GKL’s efforts to digitize casino operations. The two firms began a six-month pilot program in September 2024 at Seven Luck Casino at Seoul Dragon City hotel to collect autonomous driving data and jointly develop software tailored to casino environments. “GKL is accelerating its transition to smart casinos in line with the government’s drive to realize the so-ca

Apr 2, 2025By Lee Min-hyung
GKL partners with Robotis to bring AI-powered self-driving robots to casinos

US auto tariff threat stokes fears over GM Korea's possible exit

The United States' plan to impose 25 percent tariffs on imported automobiles starting this week has ignited concerns over the long-term stability of GM Korea, the Korean unit of General Motors (GM), raising the possibility of its potential withdrawal from Korea, industry observers noted Wednesday. GM's headquarters has indicated it is closely monitoring the tariff developments and could consider options, such as shifting production locations, if the U.S. trade barriers persist. The company's history of exits from markets with rising costs — including Australia, Indonesia, Thailand and India — has prompted industry observers to take such indications seriously. GM Korea was founded in 2002 when the U.S. automaker bought a majority stake in then troubled Daewoo Motor and launched a new carmaker, GM Daewoo Auto & Technology. It was renamed GM Korea in 2011. The company has two plants in Incheon, west of Seoul, and Changwon, about 300 kilometers east of the capital, as well as a research and development subsidiary, which together employ around 11,000 workers. GM previously shut down its Gu

Apr 2, 2025By Yonhap
US auto tariff threat stokes fears over GM Korea's possible exit

Kumho Petrochemical to build optimal business portfolio for 2025

Kumho Petrochemical Group will focus on establishing an optimal business portfolio as part of its 2025 management priority to brace for the lingering market uncertainty, the company said Wednesday. To this end, the firm is placing a strategic focus on conducting in-depth industry analysis to anticipate potential demand in the future and build a stable and profitable business portfolio. Kumho Petrochemical, the key affiliate of the group, is particularly raising the profile of its technological prowess for the production of a high-performance synthetic rubber product, Solution Styrene Butadiene Rubber (SSBR), in response to its growing demand in an era of electric vehicles (EVs), it said. SSBR is best known for its ability to overcome inherent trade-offs among durability, wear resistance and fuel efficiency in existing tire technologies. As the global auto industry shifts to EVs, demand is rising for tires that can endure the increasing weight of batteries and frequent sudden acceleration and deceleration. The trend will help not just industry players, but even consumers to understand the

Apr 2, 2025By Lee Min-hyung
Kumho Petrochemical to build optimal business portfolio for 2025
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