Business - The Korea Times

Samsung chief's stock assets rise by $18.69 bil. in Q2 as stock market hits record highs

The value of shares held by Samsung Electronics Chairman Lee Jae-yong surged by 28 trillion won ($18.69 billion) in the second quarter from three months earlier, as Korean stocks hit record highs, industry data showed Tuesday. Lee's total stock holdings were valued at 59.18 trillion won as of the end of June, up from 30.94 trillion won at the end of March, according to data released by market tracker Korea CXO Institute. The increase marked the largest rise in value among Korean business group leaders in terms of absolute gains during the period, the latest findings showed. SK Group Chairman Chey Tae-won saw the value of his stock holdings jump to 10.83 trillion won at the end of June from 3.91 trillion won three months earlier. His holdings recorded the highest growth rate among the leaders, rising 176.9 percent. The survey covered 46 heads of major business groups whose stock holdings were valued at more than 100 billion won as of the end of June. The subjects included shares directly held by group leaders in listed companies, as well as indirect stakes held through unlisted affiliates.

Jul 14, 2026By Yonhap

Samsung chief's stock assets rise by $18.69 bil. in Q2 as stock market hits record highs

Korean refiners in spotlight as Russia's diesel export ban tightens global supply

Korean refiners are drawing growing attention for their expanding role in the global supply chain after Russia halted diesel exports following Ukraine's attacks on its energy infrastructure, industry experts said Tuesday. Russia, the world's second-largest diesel exporter after the United States, imposed a temporary ban on diesel exports on July 8 after repeated Ukrainian drone attacks disrupted refinery operations and triggered domestic fuel shortages. The move has further tightened global diesel supplies at a time when refining capacity in the Middle East has yet to fully recover, while concerns are resurfacing over a potential disruption to shipping through the Strait of Hormuz. Reflecting the tightening supply, U.S. diesel crack spreads widened from just over $60 per barrel in late June to more than $80 per barrel on the day Moscow announced the export ban last week. Against this backdrop, Korean refiners are seeking to capitalize on stronger overseas demand while maintaining sufficient domestic inventories, closely watching developments in the Middle East, global oil prices and the

Jul 14, 2026By Yonhap

Korean refiners in spotlight as Russia's diesel export ban tightens global supply

Budget carriers turn to cargo, unpaid leave amid deepening earnings slump

Korea's low-cost carriers (LCCs) are ramping up cargo operations and cutting costs to cushion what is expected to be a sharp second-quarter earnings downturn, as prolonged high fuel prices and a weak won continue to erode their profitability. Facing mounting losses in their core passenger businesses, airlines are seeking to offset earnings pressure by expanding freight operations while implementing cost-saving measures such as unpaid leave for cabin crew. The deteriorating business outlook has also weighed on investor sentiment, with shares of major listed LCCs posting double-digit declines over the past three months despite the broader rally in the benchmark KOSPI. Shares of Jeju Air dropped 14.85 percent over the past three months, and Jin Air shares saw losses of 19.03 percent during the same period. Air Premia has emerged as one of the biggest beneficiaries of the shift toward cargo. The LCC transported 21,424 tons of dedicated cargo, excluding passenger baggage, in the first half of the year, up 52.5 percent from 14,055 tons a year earlier. T'way Air also reported robust cargo growth

Jul 14, 2026By Lee Min-hyung

Budget carriers turn to cargo, unpaid leave amid deepening earnings slump

Wall Street emerges as tool to draw Korean AI investment to US

SK hynix's Nasdaq listing signals a shift in Washington’s strategy to attract Korean investment. Under the former Joe Biden administration, U.S. industrial policy centered on incentives, such as the CHIPS and Science Act, offering billions of dollars in subsidies to attract semiconductor manufacturing to the U.S. While the strategy succeeded in drawing large-scale investments from global chipmakers, including Samsung Electronics and SK hynix, it also placed considerable financial pressure on companies to commit massive capital expenditures before realizing returns. The recent Nasdaq debut of SK hynix, however, suggests that the U.S. is adding a new dimension to its strategy. By providing Korean companies with direct access to the world's largest capital market and a broad base of artificial intelligence (AI)-focused investors, Washington is increasingly creating an environment in which expanding U.S. operations becomes a commercially attractive decision rather than one driven solely by political or policy pressure. As global demand for AI infrastructure continues to accelerate, investo

Jul 13, 2026By Lee Min-hyung

Wall Street emerges as tool to draw Korean AI investment to US

Who will acquire troubled JoongAng Ilbo?

With JoongAng Ilbo entering a workout following a liquidity crisis, attention is turning to who will acquire one of Korea's leading newspaper publishers, with construction firms emerging as likely buyers, industry officials said Monday. As construction companies increasingly expand into the media sector to diversify their business portfolios and strengthen brand recognition, JoongAng Ilbo's decision to put management rights up for sale has fueled speculation that they may seek acquisition. Among the names most frequently mentioned are Hoban Group and Booyoung Group, both of which already have media holdings. Hoban is viewed as a potential purchaser as it acquired national daily Seoul Shinmun, technology newspaper Electronic Times and business news outlet EBN in 2021, though it later sold Electronic Times in 2023. Booyoung has also emerged as a potential buyer. The group owns regional newspapers Incheon Ilbo and Jeju-based Halla Ilbo through its affiliates, and holds a 5.5 percent minor stake in broadcaster TV Chosun. "Construction companies have increasingly viewed acquisition of media out

Jul 13, 2026By Lee Hyo-jin

Who will acquire troubled JoongAng Ilbo?

Hyundai Motor workers begin three-day partial strike over pay dispute

The labor union of Hyundai Motor began a three-day partial strike on Monday, raising concerns over production disruptions at Korea's largest automaker. Workers on the daytime and evening shifts will each stop work for two hours from Monday through Wednesday after management and the union failed to reach a collective bargaining agreement, the company said in a regulatory filing. It marks the union's first walkout of the year and the second consecutive year of strike action. The two sides have held 15 rounds of wage negotiations this year but have failed to narrow their differences over pay. The company has offered an 80,000-won ($53.2) increase in monthly base pay, a performance bonus equivalent to 350 percent of monthly salary plus 10 million won, and 15 shares of company stock. The union is reportedly demanding a larger wage increase and performance-based pay equivalent to 30 percent of the company's net profit for last year.

Jul 13, 2026By Yonhap

Hyundai Motor workers begin three-day partial strike over pay dispute

EXPLAINER How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse

Once Korea’s second-largest discount store operator, Homeplus decided to temporarily close stores beginning Monday after running out of cash, leaving it unable to pay suppliers or even cover basic operating expenses. The retailer now faces an uncertain future after the Seoul Bankruptcy Court terminated its rehabilitation proceedings earlier this month. Without an immediate 200 billion won ($133 million) cash injection, industry observers say it is effectively on the path toward liquidation unless a last-minute rescue materializes. Why $133 million? So why has 200 billion won become the figure that could determine Homeplus’ fate? The number represents the minimum amount the court said the company needed to carry out its restructuring plan. After years of struggling with the decline of Korea’s hypermarket sector and consumers’ shift to online shopping, Homeplus — owned by private equity firm MBK Partners — initially sought a buyer. But no deal materialized. One hurdle was an accounting assessment that valued the company more highly in liquidation than as a going concern — by mor

Jul 13, 2026By Park Han-sol

[EXPLAINER] How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse

Tight timeline puts southwestern chip cluster plan at risk

As the Korean government pushes to complete a new 800 trillion won ($532 billion) semiconductor cluster in the country's southwestern region and begin mass production there by 2030 — within President Lee Jae Myung's single five-year term — concerns are growing that the tight timeline could put the entire project at risk. The government stresses that the target is achievable by rolling out measures to address concerns raised by experts over securing sufficient industrial water, power supply, workforce and land, but industry officials argue the timeline is based on the optimistic assumption that every step will proceed without delays. Given that the downside risks are as significant as the scale of the investment, they say the government should allow for greater flexibility rather than becoming overly fixated on its political timetable. According to government officials, the central government is accelerating plans to relocate facilities at Gwangju Military Air Base, the site selected for the semiconductor cluster, to nearby Muan County, South Jeolla Province. It aims to begin the rel

Jul 13, 2026By Nam Hyun-woo

Tight timeline puts southwestern chip cluster plan at risk

LS Electric, Infineon team up to power AI data center boom

LS Electric said it signed a memorandum of understanding with German semiconductor maker Infineon Technologies on Friday to jointly develop direct current, or DC, power technologies for artificial intelligence (AI) data centers and next-generation power grids. The agreement, signed at LS Electric's research and development campus in Anyang, Gyeonggi Province, was attended by LS Electric Executive Vice President Ahn Gil-young, who oversees production and research and business development; Infineon Chief Sales Officer and Senior Vice President Andreas Weisl, who leads the company's industrial and infrastructure division; and Lee Seung-soo, CEO of Infineon Technologies Korea. The companies will co-develop power semiconductor-based DC solutions, including power conversion systems for energy storage systems, solid-state transformers and solid-state circuit breakers — components that reduce power-conversion steps to cut energy loss and improve efficiency in high-density environments like AI data centers. LS Electric will lead system design, integration and commercialization, while Infineon

Jul 13, 2026By Jhoo Dong-chan

LS Electric, Infineon team up to power AI data center boom

SK Telink expands satellite network into highway disaster response

SK Telink is bringing low-Earth orbit satellite communications to Korea's road network for the first time in a bid to fortify the nation's critical infrastructure. Under a deal announced Monday, the satellite communications provider will equip Korea Expressway Corp. with satellite-backed systems designed to ensure uninterrupted connectivity. The highway deployment builds on SK Telink's recent partnership with Korea Electric Power Corp., extending the company's satellite communications network from the energy sector directly into public disaster response operations. SK Telink said the project marks the first application of low-Earth orbit satellite communications in Korea's road and transportation infrastructure. The company has installed mobile Starlink terminals for Korea Expressway Corp. to help maintain communications when terrestrial networks are disrupted by heavy rain, wildfires, earthquakes or other emergencies, or when incidents occur in areas with limited network coverage. Korea Expressway Corp. said it has completed the initial deployment across 10 regional headquarters. The agen

Jul 13, 2026By Lee Kyung-min

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