Business - The Korea Times

Pet-friendly apartment complexes draw mixed reactions

It is not unusual to encounter more people walking their dogs than parents pushing baby strollers at most apartment complexes in Korea, the country which has over 12 million pet owners and the world’s lowest birth rate of 0.72.

Jun 14, 2024By Park Jae-hyuk

Pet-friendly apartment complexes draw mixed reactions

Coupang claims FTC's W140 bil. fine is 'discriminatory'

Coupang refuted a recent decision from the Fair Trade Commission (FTC) to fine it 140 billion won ($101 million) for its alleged unfair business practices, which were said to be “deceiving consumers” by fabricating its webpage’s recommendations algorithm. The country’s largest retailer claimed the allegation is irrelevant, adding it will file an administrative litigation against the decision.

Jun 13, 2024By Jhoo Dong-chan

Coupang claims FTC's W140 bil. fine is 'discriminatory'

Coupang fined $102 mil. for alleged manipulation of search algorithm, product reviews

Samsung chief meets with Meta, Amazon, Qualcomm CEOs for tech partnerships

Samsung Electronics Executive Chairman Lee Jae-yong met with leaders of Meta, Amazon and Qualcomm to elevate their tech partnership and discuss future business models particularly, in artificial intelligence (AI), the electronics firm said Thursday.

Jun 13, 2024By Lee Min-hyung

Samsung chief meets with Meta, Amazon, Qualcomm CEOs for tech partnerships

CJ CheilJedang, Ottogi, SPC, Sajo caught for 'shrinkflation'

CJ CheilJedang, Ottogi, SPC Samlip and Sajo Daerim reduced the volumes of their food products while keeping their prices the same, fueling public distrust in the country's major food companies, Korea Consumer Agency said Thursday.

Jun 13, 2024By Ko Dong-hwan

CJ CheilJedang, Ottogi, SPC, Sajo caught for 'shrinkflation'

New curriculum for safety engineering

Soongsil University President Jang Beom-sik, left, and Hyundai Motor Group President Kim Geol pose after signing an agreement on establishing the Department of Advanced Convergence Safety Engineering during a ceremony at the university in Seoul, Wednesday. The department will be set up under the university’s Graduate School for Safety Convergence and will offer a master’s course in advanced industry safety specifically for Hyundai Motor Group employees. Courtesy of Soongsil University

Jun 13, 2024By Nam Hyun-woo

GS Caltex spurs global white-bio business with Summit Cosmetics

GS Caltex is expanding its global cosmetic ingredients business by signing a new partnership with Summit Cosmetics in Japan, the major Korean refiner said Thursday. Both companies are betting on the white-bio industry, which replaces the conventional use of chemicals with natural renewable resources, according to the Korean energy and chemical company.

Jun 13, 2024By Ko Dong-hwan

GS Caltex spurs global white-bio business with Summit Cosmetics

Labor union of Hyundai Motor expected to vote on strike after wage talks collapse

Wage negotiations between Hyundai Motor, Korea's leading automaker, and its union have collapsed, union representatives said Thursday, with workers expected to vote later this month whether to stage a walkout.

Jun 13, 2024

Labor union of Hyundai Motor expected to vote on strike after wage talks collapse

New MINI Countryman takes on Mercedes, Audi

The new MINI Countryman debuted Thursday with a bigger body size and an iconic round OLED display, joining the tight competition for the premium small SUV market against Mercedes-Benz and Audi.

Jun 13, 2024By Lee Min-hyung

New MINI Countryman takes on Mercedes, Audi

Samsung Heavy to sue Russia's Zvezda for canceling deals worth $4.3 bil.

Samsung Heavy Industries will sue Zvezda as the Russian shipbuilder asked the Korean shipbuilder to return $800 million worth of advances received and pay interest for arrears after unilaterally canceling their two contracts worth $4.3 billion, the Korean firm said Thursday.

Jun 13, 2024By Park Jae-hyuk

Samsung Heavy to sue Russia's Zvezda for canceling deals worth $4.3 bil.

Coupang fined $102 mil. for alleged manipulation of search algorithm, product reviews

The antitrust regulator said Thursday it has decided to fine e-commerce giant Coupang 140 billion won ($102 million) for using unfair search algorithms and uploading false product reviews to boost sales of its own private-label items.