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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.

Hyundai Motor Group takes up 11.8% of US market through April: data

Hyundai Motor Group accounted for 11.8 percent of the U.S. automobile market in the January-April period this year, data showed Sunday, on the back of strong sales of hybrids and other eco-friendly models. According to data compiled by industry tracker Omdia, the combined market share of Hyundai Motor and Kia Corp. rose 1 percentage point from a year earlier during the first four months of 2026, ranking fourth behind General Motors, Toyota Motor Corp. and Ford Motor. The combined sales moved up 1.3 percent over the period to 589,936. For all of 2025, Hyundai Motor Group posted a record market share of 11.3 percent in the U.S. market, with industry watchers expressing optimism that the Korean automotive giant could break the 12 percent threshold this year. Industry watchers said Hyundai Motor Group appears to have expanded its market share on the back of strong sales of hybrid and other eco-friendly models amid weakening demand for conventional vehicles following global oil price hikes. "Through our powertrain strategy encompassing our entire eco-friendly lineup, we are addressing market d

Jun 14, 2026By Yonhap
Hyundai Motor Group takes up 11.8% of US market through April: data

Coupang’s record privacy fine sparks proportionality debate, investment concerns

The record-high 624.68 billion won ($409 million) penalty imposed on Coupang over a massive data breach is fueling debate over regulatory proportionality, as the e-commerce giant was ordered to pay more than four times the fine levied on SK Telecom for last year's hacking incident, while matchmaking company Duo received a far lighter sanction despite a breach involving highly sensitive personal information. The penalty is also casting doubt on Coupang’s ability to maintain the aggressive investment that has driven its growth, fueling speculation that the e-commerce giant could rein in future spending. On Thursday, the Personal Information Protection Commission (PIPC) imposed a 624.68 billion won fine and a 16.8 million won administrative penalty on Coupang over its data breach, involving more than 33 million users, and related privacy violations. The regulator concluded that Coupang failed to maintain even basic security safeguards, citing lax management of an authentication signing key and inadequate access controls that allowed a former employee to forge tokens and reach pages conta

Jun 12, 2026By Lee Gyu-lee
Coupang’s record privacy fine sparks proportionality debate, investment concerns

OpenAI's Sam Altman postpones visit to Korea

OpenAI CEO Sam Altman's visit to Korea scheduled for next week has been postponed due to personal reasons, the artificial intelligence (AI) research organization and industry sources said Friday. Altman was originally scheduled to arrive in Korea on Sunday for a two-day trip that included meetings with major technology companies, including Samsung Electronics, to discuss cooperation in AI. During the visit, Altman was also expected to meet executives from portal operator Naver and mobile platform operator Kakao. "Korea is a very important country and a strategic partner for OpenAI," the company said in a statement. "Our ongoing collaborations with domestic partners will continue as planned." OpenAI added that it hopes Altman will be able to visit Korea again in the near future and meet local partners in person. The company did not disclose further details regarding the reason for the postponement or a revised schedule for Altman's visit.

Jun 12, 2026By Yonhap
OpenAI's Sam Altman postpones visit to Korea

Oriental Brewery taps into enthusiasm for Team Korea, World Cup

Liquor giant Oriental Brewery (OB) hosted watch parties at restaurants in Seoul Friday for Korea's 2026 FIFA World Cup Group A match against the Czech Republic, using the events to promote its flagship beer brand, Cass. Called Cass Viewing Pubs, the events are held at restaurants that sell Cass, allowing fans to gather and cheer for the national team together. For Korea's three group stage matches this month, OB partnered with four restaurants in Seoul's trendy districts of Euljiro, Itaewon and Seongsu, as well as one venue in Suwon, Gyeonggi Province. On Friday, two barbecue restaurants in Seoul's Euljiro and Itaewon areas were transformed into temporary fan zones. At the Euljiro venue, around 300 visitors filled the outdoor seating area in front of a giant screen, wearing matching jerseys bearing the logos of the FIFA World Cup, the Korea Football Association and Cass. Cass is the only domestic liquor brand serving as an official sponsor of this year's World Cup. The attendees were selected through an application process organized by OB. As expected by the company, the combination of

Jun 12, 2026By Ko Dong-hwan
Oriental Brewery taps into enthusiasm for Team Korea, World Cup

Naver, Krafton team up to bring PUBG esports to bigger audiences

Korean internet giant Naver Corp. has entered into a strategic partnership with game developer Krafton to expand the media and content ecosystem surrounding the hit video game franchise PUBG: Battlegrounds, Naver announced Friday. The medium-to-long-term alliance aims to capitalize on the growing intersection of livestreaming, digital communities and competitive gaming. Under a memorandum of understanding signed Friday, the two companies plan to link Krafton's intellectual property for PUBG esports with Chzzk, Naver’s proprietary video streaming platform. The integration will leverage Naver’s stable infrastructure and specialized interactive viewing features, such as its co-watching tool, which allows creators and viewers to stream and discuss live matches together in real time. Naver intends to broadcast major PUBG esports tournaments directly on Chzzk and establish formal league partnerships. By integrating Krafton's globally recognized game brand with Chzzk’s established network of creators, the platform seeks to develop exclusive broadcasts that can broaden its user base and

Jun 12, 2026By Lee Kyung-min
Naver, Krafton team up to bring PUBG esports to bigger audiences

CJ CheilJedang, Samyang Foods climb in brand-value rankings as global appetite grows

Korea’s leading food manufacturers are solidifying their positions among the country’s most valuable corporate names, reflecting the food sector’s rising prominence amid broader global expansion. CJ CheilJedang and Samyang Foods both secured spots on Interbrand’s 2026 Best Korea Brands list, the companies said Friday. The annual index, compiled by the New York-based brand consultancy, gauges corporate value based on financial performance, market influence and long-term growth prospects. The inclusion of both companies highlights how processed foods have joined electronics and automotive manufacturing as primary drivers of Korea's outbound economic footprint. CJ CheilJedang retained its No. 22 spot for the second consecutive year, marking its highest placement since the ranking’s inception in 2013 and extending its appearance on the list to 14 straight years. Interbrand valued the company's brand at 1.18 trillion won ($776 million), the highest among all fast-moving consumer goods firms in Korea. The conglomerate has aggressively expanded its "Bibigo" portfolio internationally

Jun 12, 2026By Lee Kyung-min
CJ CheilJedang, Samyang Foods climb in brand-value rankings as global appetite grows

Worxphere bets big on baseball to win over Korean jobseekers

Human resources technology group Worxphere renewed its marketing partnership with the Hanwha Eagles baseball club for the 2026 season, extending a corporate sponsorship aimed at tapping into professional sports’ highly engaged fan bases. The agreement, signed by Worxphere CEO Yoon Hyun-jun and Hanwha Eagles General Manager Son Hyuk at Hanwha Life Eagles Park in Daejeon, marks the third consecutive year the artificial intelligence (AI)-driven HR firm has aligned with the Korea Baseball Organization franchise. Under the terms of the deal, Eagles players will wear jerseys featuring corporate patches for Worxphere’s flagship job recruitment platforms, JobKorea and Albamon. Worxphere has also secured extensive stadium branding to position the dual platforms under its corporate umbrella, a standard but increasingly competitive customer acquisition strategy in Korean sports. The partnership relies heavily on experiential marketing to bridge digital services with physical consumers. At a recent promotional event dubbed "Worxphere Day," the company staged a viral recruitment stunt via Albamo

Jun 12, 2026By Jhoo Dong-chan
Worxphere bets big on baseball to win over Korean jobseekers

Korea's Hanmi Semiconductor to acquire shares of SpaceX

Korea's Hanmi Semiconductor said in a regulatory filing Friday that it is seeking to acquire 50 billion won ($32.9 million) worth of shares in SpaceX, ahead of the U.S. space company's stock market debut. The investment, equivalent to around 7.24 percent of equity, comes amid the company's prospects on the "growth potential of Elon Musk's Terrafab and SpaceX, amid an explosive demand on advanced chips, aerospace and satellite technologies and artificial intelligence (AI)," according to the filing. Terrafab is a vertically integrated semiconductor manufacturing complex spearheaded by Musk, involving Tesla, SpaceX and xAI, an AI company founded by the U.S. billionaire. The facility is expected to start operations in 2028. Some 80 percent of chips produced from there will be used in data centers of SpaceX, while the rest will be topped on vehicles of Tesla as well as its Optimus robots. "We will reinvest the expected future returns into our core semiconductor equipment business to seek sustainable growth, while enhancing shareholder value," an official from the Korean company said. SpaceX is

Jun 12, 2026By Yonhap
Korea's Hanmi Semiconductor to acquire shares of SpaceX

Fair trade watchdog approves NS Shopping's takeover of Homeplus Express

Korea's antitrust watchdog on Friday approved NS Shopping's takeover of the compact-format supermarket chain Homeplus Express, saying the deal is unlikely to hinder fair competition in the market. The Fair Trade Commission (FTC) made the ruling after NS Shopping, an affiliate of Harim, Korea's largest poultry-processing company, announced its plan to acquire Homeplus Express from Homeplus in a deal estimated at 120.6 billion won ($79.3 million). Homeplus Express is the super supermarket (SSM) brand of Homeplus. The FTC said it had reviewed the deal as involving 11 vertical mergers and two conglomerate mergers. A vertical merger occurs when companies operate at different stages of the same supply chain within an industry, while a conglomerate merger occurs between businesses in different industries. The watchdog said it had determined that concerns over the merger's impact on competition remain limited, given Homeplus Express' relatively small market presence. "In terms of chicken products, Homeplus Express' share of the SSM market remains low, at around 2 percent," the FTC said. "It is unli

Jun 12, 2026By Yonhap
Fair trade watchdog approves NS Shopping's takeover of Homeplus Express

Hanwha Ocean selected as preferred bidder for KDDX program

Hanwha Ocean has been selected as the preferred bidder for Korea’s long-delayed next-generation destroyer (KDDX) project, a cornerstone of the country’s naval modernization plan, valued at approximately 7.8 trillion won ($5 billion). The KDDX program plans to deploy six 6,000-ton Aegis-equipped destroyers by 2030, replacing aging vessels scheduled for retirement in the late 2020s. According to the Defense Acquisition Program Administration (DAPA) and defense industry sources on Thursday, the agency has completed its evaluation of proposals for the detailed design and lead ship construction project and notified both HD Hyundai Heavy Industries (HHI) and Hanwha Ocean of the results in the afternoon of the same day. “We received an excellent evaluation in the proposal assessment for the detailed design and lead ship construction project of the KDDX, thanks to our advanced naval vessel technology and project execution capabilities," the company said in a press statement following DAPA’s decision. “As the preferred bidder, we will closely cooperate with DAPA in accordance with proje

Jun 11, 2026By Ko Dong-hwan
Hanwha Ocean selected as preferred bidder for KDDX program
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