my timesThe Korea Times
Business

Companies

LIG Nex1 rebrands as LIG Defense & Aerospace to bolster global ambitions

LIG Nex1 said Tuesday it has changed its corporate name to LIG Defense & Aerospace (D&A) as part of its push to become a global defense player. The name change was approved at a shareholders meeting held in Yongin, Gyeonggi Province. It marks the company’s first name change since it was rebranded as LIG Nex1 from Nex1 Future in 2007, following its incorporation into LIG Group. The company said the new name reflects its commitment to taking on new challenges while building on a legacy spanning more than 50 years. LIG D&A has been increasing its investment in future defense sectors, including satellite systems, next-generation aerial weapons and unmanned platforms, to diversify its business portfolio. The company also plans to expand its presence in Europe, the United States and South America, beyond its existing markets in the Middle East and Asia. “This name change is not just a simple rebranding, but a promise to evolve into a global technology company that protects the safety and peace of humanity through technological innovation,” a company official said.

Mar 31, 2026By Lee Min-hyung
LIG Nex1 rebrands as LIG Defense & Aerospace to bolster global ambitions

Korea steps up push for Canadian submarine deal during Ottawa trade mission visit

Korea continued with efforts to persuade Canada to place an order for 12 new patrol submarines worth 60 billion Canadian dollars ($43 billion), as Ottawa dispatched a trade mission to Seoul this week. Arranging a closed-door meeting Tuesday between Industry Minister Kim Jung-kwan and Canada’s International Trade Minister Maninder Sidhu for discussion on energy security, the Ministry of Trade, Industry and Resources said Kim underscored the importance of the submarine deal in strengthening industrial ties between the two countries in strategic sectors. According to the ministry, Kim also reiterated Hyundai Motor’s plan to establish hydrogen infrastructure in Canada as an example of bilateral cooperation, while asking for the submarine order in return for Korean investment. “If Canada’s vast resources are paired with Korea’s manufacturing capabilities in this era of uncertainty, both nations can build a resilient supply chain capable of withstanding global challenges,” Kim said in a press release. With major energy firms from both nations attending the meeting, the ministers al

Mar 31, 2026By Park Jae-hyuk
Korea steps up push for Canadian submarine deal during Ottawa trade mission visit

Samsung enlists Perplexity AI to refine Bixby for home appliances

Samsung Electronics has rolled out an upgraded version of its Bixby voice assistant across a new lineup of artificial intelligence (AI)-powered home appliances, improving natural language understanding and adding a generative AI question-and-answer feature through integration with Perplexity. The upgraded AI features have been introduced across Samsung’s 2026 lineup, including Family Hub refrigerators, air conditioners, robot vacuums, water purifiers and new washing machines equipped with a 7-inch display. The enhanced Bixby, built on a large language model, is designed to understand user intent from everyday speech rather than rely on preset commands. It draws on context from both a user’s request and prior interactions to deliver more relevant responses. For example, if a user tells the refrigerator, “I put in beef and mackerel — change the mode,” it will automatically switch to a setting optimized for storing meat and fish. A request like “I’m going to have whisky — make me some ice” will prompt the appliance to produce round ice suited for drinks. The system also en

Mar 31, 2026By Jhoo Dong-chan
Samsung enlists Perplexity AI to refine Bixby for home appliances

Baemin operator becomes latest victim of data misuse by partner firm

Woowa Brothers, operator of major online food ordering platform Baedal Minjok, has become the latest company to suffer a customer data leak carried out by a criminal ring. Woowa Brothers said it was informed by Seoul's Yangcheon Police Station on Friday that a partner firm managing its customer service center had been infiltrated by a member of a criminal group disguising as a new recruit. The perpetrator intended to steal the personal data of a Baedal Minjok customer, including the person’s contact number and address. Police said the criminal had been paid by an unidentified client seeking personal retaliation. After acquiring the necessary information to approach the target, the criminal left human excrement and scribbles on the entrance door of the victim’s home. “Yangcheon police first informed us about the crime last Friday, shortly after which they apprehended all the suspects. The police were heading to the Seoul Western District Prosecutors’ Office to determine whether arrest warrants would be required,” a Woowa Brothers official said. Police said the criminals acted li

Mar 31, 2026By Ko Dong-hwan
Baemin operator becomes latest victim of data misuse by partner firm

JTI Korea to launch new heated tobacco product to expand market presence

JTI International Korea, the Korean unit of Switzerland-based tobacco company JTI SA, is set to launch a new heated tobacco product in Korea, the company said Tuesday, as part of efforts to expand its presence in Asia's fourth-largest economy. The company said it plans to introduce its Ploom AURA device in Seoul and selected metropolitan areas starting April 14. JTI entered the Korean market in 1992 and plans to make significant investments to strengthen its product portfolio. "Korea is one of the most dynamic markets in the world. The sophistication of consumer expectations and the pace of innovation make it a uniquely important environment for breakthrough products," Irina Lee, general manager of JTI Korea, said at a press conference. She did not provide specific sales or market share targets for Korea but said the company aims to achieve mid-teen sales growth across key markets by 2028. The launch of Ploom AURA in Korea is expected to contribute to that goal, she added. Compared with conventional cigarettes, Ploom AURA produces less residual odor in users' hair, clothing and breath, th

Mar 31, 2026By Yonhap
JTI Korea to launch new heated tobacco product to expand market presence

Hankook & Company names new CEO

Hankook & Company has appointed Kim Joon-hyun, former executive vice president in charge of the firm’s overall management, as its new co-CEO in recognition of his expertise in mapping out the firm’s mid- to long-term growth strategy, the company said Tuesday. The latest reshuffle of top management marks the company's shift to a dual leadership structure. Before Kim’s appointment, Co-CEO Park Jong-ho led the firm as a sole leader. Hankook & Company explained that the dual leadership system is aimed at strengthening its strategic functions and accountability, while at the same time pursuing mid- to long-term growth and enhancing shareholder value. Kim will lead overall management, while Park will oversee the firm’s battery business. The newly appointed CEO will be responsible for establishing and executing the firm’s long-term growth strategies, improving portfolio value and enhancing financial soundness and capital efficiency. He will also advance its governance system. Kim started his career at Samil PwC and previously took on senior roles at CJ CheilJedang where he served as he

Mar 31, 2026By Lee Min-hyung
Hankook & Company names new CEO

JobKorea launches unified platform to make hiring easier for companies

JobKorea, Korea’s largest career and recruitment platform, unveiled Tuesday an integrated hiring solution called Hiring Center, designed for corporate clients seeking to streamline their recruitment operations. The platform, initially available to a select group of companies, brings the entire hiring workflow — from job postings and applicant tracking to communication and operational reporting — into a single interface. The platform is designed to serve as a centralized hub for all hiring-related tasks, replacing scattered tools and processes that previously operated across separate systems. Hiring Center enables multi-user collaboration, allowing recruitment teams manage the entire hiring process within a shared workspace. Key features include organizing applicants by job posting, tracking progress through each stage of hiring, communicating with candidates, scheduling and generating performance reports — all from a single dashboard. The company said the platform’s integrated design is intended to enhance transparency and operational efficiency throughout the recruitment proce

Mar 31, 2026By Jhoo Dong-chan
JobKorea launches unified platform to make hiring easier for companies

Hanwha wins 1st US Navy subcontract for next-generation logistics ship

Hanwha Defense USA and Hanwha Philly Shipyard have secured their first project with the U.S. Navy as subcontractors to Vard Marine US for the Next Generation Logistics Ship (NGLS) program, also known as the light replenishment oiler (T-AOL). The contract marks the first U.S. Navy award to Hanwha Defense USA since the company’s establishment and Hanwha Group’s acquisition of the Philly Shipyard. Since December 2024, Hanwha has invested more than $200 million to upgrade the shipyard’s workforce, capabilities and capacity. Under the deal, Hanwha will partner with VARD to conduct a market survey and carry out concept design and refinement for the new NGLS platform. The company will also support manufacturability, commercial construction practices and the evaluation of production costs. The award includes options for functional design planning and special studies. The NGLS is designed to provide sustained afloat or ashore refueling, resupply and rearm capabilities through a smaller platform using commercially available, non-developmental and proven technologies. “This award represents

Mar 31, 2026By Park Jae-hyuk
Hanwha wins 1st US Navy subcontract for next-generation logistics ship

Emart opens 1st PB brand outlet in Thailand

Emart, Korea's largest discount retailer, said Tuesday it has opened its first private-label No Brand outlet in Thailand as part of its global expansion strategy. The company has signed a master franchise agreement with local partner Central Food Retail to launch its offline retail business at the Central Bangna shopping mall in Bangkok, the company said in a press release. Under the agreement, the franchisee is authorized to open and operate stores within the designated territory and to grant subfranchise rights to third parties. The new store marks the first offline outlet established by a Korean retailer in Thailand, the company said. The outlet offers around 2,300 products, including Korean snacks, instant noodles and home meal replacement (HMR) items. It also features a cooking station serving Korean dishes, such as "gimbap" and "tteokbokki," a spicy rice cake dish. "The first No Brand store will serve as a strategic bridgehead to promote Emart's brand and Korean food in Southeast Asia," a company official said. In December 2024, Emart opened its first No Brand outlet in Laos and has

Mar 31, 2026By Yonhap
Emart opens 1st PB brand outlet in Thailand

Samsung Electronics to cancel $9.5 bil. worth of treasury stocks

Samsung Electronics plans to cancel 14.5 trillion won ($9.5 billion) worth of its treasury stocks as part of a buyback program aimed at enhancing shareholder value, the company said Tuesday. Around 73.3 million common stocks and 13.6 million preferred shares will be retired Thursday, it said in a regulatory filing. The move follows board decisions made in February and July last year to repurchase its own shares, the company said. The cancellation will reduce the number of outstanding shares without affecting capital stock, it added. Samsung Electronics previously announced plans to cancel 87 million shares out of its 105.4 million treasury shares within the first half of the year. Shares of Samsung Electronics fell 3.8 percent to 169,600 won as of 9:05 a.m., underperforming the broader Korea Composite Stock Price Index (KOSPI), which dropped 2.6 percent. The stock cancellation plan was announced before the market opened.

Mar 31, 2026By Yonhap
Samsung Electronics to cancel $9.5 bil. worth of treasury stocks
previous page
6465666768
next page

Most Read in Business