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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’s Arctic shipping ambitions face renewed skepticism

Controversy over Korea’s plan to use Arctic shipping routes is resurfacing, as HMM employees question its feasibility while protesting the government’s attempt to relocate the shipping company’s headquarters from Seoul to Busan. Ahead of the June 3 local elections and the appointment of a new oceans and fisheries minister, the government is expected to face growing challenges to the plan, a key reason President Lee Jae Myung has pushed to move the ministry and major shipping firms to the southeastern port city. Although the government has stressed the need to take preemptive steps to secure a competitive edge in developing shorter alternatives to the Suez Canal for Asia-Europe trade, opponents have pointed to the global reluctance to use Arctic routes. “As shipping industry insiders, we are well aware that the diplomatic and economic feasibilities of Arctic shipping routes have not yet been verified,” an HMM union member said during a rally in front of the company’s headquarters on March 11. The HMM union cited major global shipping companies that have pledged not to use Arct

Mar 17, 2026By Park Jae-hyuk
Korea’s Arctic shipping ambitions face renewed skepticism

APR expands to India with Medicube launch on major beauty platform

Beauty device and cosmetics company APR is launching its leading skin care brand, Medicube, on India’s largest beauty platform Nykaa, marking the company’s entry into the Indian market. The company announced Monday that it signed a strategic partnership with Nykaa as part of its broader expansion strategy targeting the country’s fast-growing beauty sector. India is one of the world’s largest consumer markets, with the beauty and personal care industry rapidly growing in recent years, driven by a rising middle class and the expansion of digital commerce. Its beauty and personal care market is projected to grow from $28 billion in 2024 to about $34 billion by 2028, according to the India Brand Equity Foundation. Through its Nykaa launch, Medicube is introducing some of its best-selling product lines, including the Zero, PDRN, Collagen and Deep Vita C lines. APR plans to focus on the brand’s four flagship products that are currently driving its global sales, including Collagen Jelly Cream and PDRN Pink Collagen Gel Mask. “India represents a massive growth opportunity, with its 1.5

Mar 16, 2026By Lee Gyu-lee
APR expands to India with Medicube launch on major beauty platform

Korea P&G to recruit interns for 2026 conversion program

Korea P&G, the local unit of global consumer goods company Procter & Gamble, said Monday it will accept applications for its “2026 conversion internship” program through April 17. The company owns well-known consumer brands such as Febreze, Downy, Gillette and Oral‑B. Recruitment will be conducted in four areas: sales marketing, finance and accounting, product supply, or supply chain management, and information technology. Applicants who have already completed their undergraduate or graduate studies, or who are expected to graduate by August 2027, are eligible to apply regardless of major. Participants who successfully complete the internship program may have the opportunity to convert it to a full-time position. Candidates must submit their applications and complete an online test through P&G’s official recruitment website by 1 p.m. on April 17. After reviewing applications, Korea P&G plans to conduct interviews through May to assess candidates’ job competencies and organizational fit, with final results scheduled to be announced in early June. The internship will run for about

Mar 16, 2026By Ko Dong-hwan
Korea P&G to recruit interns for 2026 conversion program

LG Group needs to reverse EV slowdown, weak petrochemical outlook

LG Group is losing momentum for a possible stock rebound as the outlook remains lukewarm for the firm’s cornerstone battery and petrochemical businesses. The conglomerate had long held its position as one of Korea’s four largest groups by market capitalization — alongside Samsung, SK and Hyundai Motor — but its standing weakened recently as Hanwha Group overtook it earlier this month. Hanwha’s key defense affiliates have seen robust growth due to geopolitical tensions in the Middle East creating more demand. LG, however, has failed to ride the recent rally in the benchmark KOSPI, as major affiliates of rival conglomerates posted strong gains during the market’s upward cycle. Shares of LG Energy Solution fell about 12 percent over the past three months through Monday, weighed down by a prolonged slowdown in electric vehicle (EV) demand ahead of mass adoption. The battery maker remains the largest affiliate within the group, with a market capitalization of around 86 trillion won ($57.55 billion). LG Chem is facing a similar challenge in a slumping petrochemical industry. The com

Mar 16, 2026By Lee Min-hyung
LG Group needs to reverse EV slowdown, weak petrochemical outlook

SK continues tightening belt in battery business

SK Group has ramped up efforts to cut costs at its money-losing battery affiliates as they continue to underperform amid a slowdown in global demand for electric vehicles (EVs). According to industry officials Monday, SKC has notified employees of plans to launch a voluntary redundancy program for workers who joined the company before 2025, offering compensation equal to 50 percent of their annual salary. The decision is seen as part of broader efforts to cope with the battery market downturn. SKC is the parent company of SK Nexilis, a copper foil producer for rechargeable batteries. Last year, SK Nexilis posted an operating loss of 174.6 billion won ($117 million), following a 150.5 billion won loss the previous year. SK IE Technology (SKIET) has also launched a voluntary redundancy program for employees with more than three years of service, offering compensation equivalent to one year’s salary. Spun off from SK Innovation in 2019, SKIET produces separators for lithium-ion batteries. The battery materials maker has also allowed staff with more than two years of service to take unpaid

Mar 16, 2026By Park Jae-hyuk
SK continues tightening belt in battery business

POSCO Future M wins $668 mil. battery material supply deal from global automaker

POSCO Future M, the battery materials unit of POSCO Holdings, said Monday it has secured a 1 trillion-won ($668 million) contract to supply battery materials to a global automaker. Under the five-year agreement, POSCO Future M will supply synthetic graphite anode active materials to the undisclosed carmaker from 2027 through 2032, the company said in a press release. To fulfill the contract, the company plans to invest 357 billion won to build a synthetic graphite anode plant in Vietnam. In October, POSCO Future M signed a separate 670 billion-won deal with the same automaker to supply natural graphite anodes. The company said it plans to expand the partnership to include lithium and cathode materials. POSCO Future M currently produces cathode materials for nickel-cobalt-manganese (NCM) and nickel-cobalt-manganese-aluminum (NCMA) batteries. It plans to expand its portfolio to include lithium iron phosphate (LFP), all-solid-state batteries (ASBs) and lithium manganese-rich (LMR) batteries. Backed by its advanced technology and expanded production capacity, the company said it is "in talks"

Mar 16, 2026By Yonhap
POSCO Future M wins $668 mil. battery material supply deal from global automaker

Labor ministry launches inspection into alleged cover-up surrounding Coupang worker's death

The labor ministry on Monday launched an inspection into allegations that major online retailer Coupang tried to cover up the circumstances surrounding the death of one of its workers. Coupang, which already faces government scrutiny over a massive data leak, is suspected of disrupting a probe into a delivery worker's death in May 2024 by allegedly pressuring the worker's family not to file an industrial accident claim. "An inspection will begin today into Coupang, which faces suspicions of an industrial accident cover-up and where a fatal accident happened recently," Labor Minister Kim Young-hoon said in a ministry meeting. The inspection, which targets the retailer and its subsidiary Coupang Logistics Service, will also check for other possible violations of the industrial safety law. It marks the ministry's latest inspection into Coupang after it began in January to look into allegations that the company created a "blacklist" of workers to restrict from rehiring. The retailer also faces a separate probe over the data breach that affected more than 33 million accounts.

Mar 16, 2026By Yonhap
Labor ministry launches inspection into alleged cover-up surrounding Coupang worker's death

Samsung SDI lands $1 bil. ESS battery deal in US

Samsung SDI said Monday it has secured another large-scale contract to supply energy storage system (ESS) batteries in the United States, accelerating its expansion in the fast-growing global ESS market. The Korean battery maker said its Michigan-based subsidiary, Samsung SDI America, recently signed a 1.5 trillion won ($1 billion) deal to supply ESS batteries in phases to a U.S. energy company over four years through 2029. The company did not disclose the name of the customer under the agreement. The batteries will be produced at StarPlus Energy’s plant in Indiana, a joint venture between Samsung SDI and automaker Stellantis. Initial shipments will consist of nickel-cobalt-aluminum batteries, with supplies later expanding to lithium iron phosphate (LFP) batteries. The latest contract highlights Samsung SDI’s technological competitiveness in both NCA and LFP battery technologies in the global market, the company said. Samsung SDI has been strengthening its presence in the U.S., where demand for ESS is rapidly increasing alongside the expansion of renewable energy and artificial intell

Mar 16, 2026By Park Jae-hyuk
Samsung SDI lands $1 bil. ESS battery deal in US

SK hynix beats Samsung as most preferred company for job seekers: survey

SK hynix was named the most preferred company among job seekers, a poll showed Monday, amid the chipmaker's record-breaking earnings following the artificial intelligence (AI) boom. According to the survey of 2,304 job seekers conducted by Saramin, a major South Korean job-search website, 20 percent said they wished to get a position at SK hynix, followed by Samsung Electronics with 18.9 percent. It marked the first time for SK hynix to beat Samsung Electronics in related surveys, the platform operator said. Hyundai Motor followed with 7.9 percent, with Naver and Samsung C&T posting 4 percent and 3 percent, respectively. Respondents cited high wages as the main reason for choosing companies such as SK hynix, Samsung Electronics and Hyundai Motor. Those who chose Naver said the company's vision and growth potential were the main reasons for seeking employment there. In 2025, SK hynix posted a record annual operating profit of 47.2 trillion won ($31.4 billion), beating its rival Samsung Electronics for the first time. The figure marked more than double from 2024. In February, SK hynix decide

Mar 16, 2026By Yonhap
SK hynix beats Samsung as most preferred company for job seekers: survey

Oil shock threatens sharp rise in ticket prices for Korean Air, budget carriers

International flight tickets issued in April could cost more than 100,000 won ($75) higher than those purchased this month for the same routes, as Korean Air and low-cost carriers face mounting pressure from surging aviation fuel costs following the U.S.-Israeli strikes on Iran, according to data and industry officials Sunday. The anticipated increase is tied to a sharp rise in fuel surcharges — additional fees to cover fluctuating fuel costs. The figure for April is set to be announced Monday. As the Middle East crisis shows signs of becoming prolonged, international oil prices have climbed steeply, raising concerns that fuel surcharges attached to airline tickets will also sharply jump next month. Airlines adjust fuel surcharges monthly based on international aviation fuel prices. For Korean Air, the surcharge currently ranges between 13,500 won and 99,000 won for tickets issued in March. The upper range is an increase of around 30 percent from the previous month. Asiana Airlines' fuel surcharge is also increasing. The surcharge in March soared to as high as 78,600 won, up 19 percent

Mar 16, 2026By Lee Min-hyung
Oil shock threatens sharp rise in ticket prices for Korean Air, budget carriers
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