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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.

Olive Young’s US debut draws buzz as shoppers question formulas

SEATTLE — When CJ Olive Young said it would open its first U.S. stores in California, the reaction was swift. On social media, K-beauty fans celebrated the idea of finally walking into a brick-and-mortar version of the Seoul retailer they have been ordering from for years. For many shoppers here in the U.S., Olive Young is more than a chain. It represents what’s trending in Korea right now. The sheet masks stacked by the register. The sunscreen that sells out in Seoul before it appears on Instagram. The perception that you are getting the same products sold in Korea, not a separate export version. That is why the excitement has come with a pointed question: will the products on U.S. shelves be exactly the same? Since news of Olive Young’s U.S. expansion first surfaced, online forums have buzzed with questions about whether the products would remain unchanged. “Most of the brands that sell a lot to the U.S. changed to a separate U.S. formula (aka worse) so I expect those will be the imports unless the FDA gets cool with a lot of technologies really quickly,” one Reddit user wrot

Feb 28, 2026By Jane Han
Olive Young’s US debut draws buzz as shoppers question formulas

Coupang founder apologizes, seeks exit strategy from conflict with gov't

Ongoing tension between Korea and Coupang over the U.S.-based e-commerce company's data leak incident, which has emerged as a major trade issue between Korea and the U.S., saw notable progress on Friday when Coupang founder Bom Kim made his first in-person apology over the incident. In a seminar in Washington, former American Chamber of Commerce in Korea (AMCHAM) President Tami Overby advised Kim to visit Seoul and apologize to the public over the case, in which personal information of 33.67 million customers was compromised. “First, I want to apologize again for the concern and inconvenience the data incident has caused," Kim said in a conference call for Coupang investors in the U.S. Thursday (local time). "Everything we’ve built at Coupang has been driven by a single focus — wowing our customers. Our customers are the only reason we exist, and earning their trust is something we strive to do every single day.” It was his first in-person apology, although he had issued a written apology last December, about a month after the data breach was made public. Harold Rogers, Coupang K

Feb 27, 2026By Ko Dong-hwan
Coupang founder apologizes, seeks exit strategy from conflict with gov't

Korea conditionally approves Google request to export map data

The government on Friday approved Google's request to transfer Korea's high-definition map data outside the country while also requiring the U.S. tech giant to implement additional safeguards. A consultative body consisting of seven Korean ministries and private advisers held a meeting at the National Geographic Information Institute in Suwon, Gyeonggi Province, and finalized the approval. The decision to export the 1:5,000 scale map came after Google filed its latest request in February 2025. Korea had rejected similar requests by Google in 2007 and 2016, citing national security concerns that sensitive facilities, such as military bases, could be exposed. It is the first time Korea has allowed a foreign company access to high-precision map data. A key condition for Google to accept is requiring its partner firms in Korea to use servers here when processing the map’s raw data, for security purposes. The edited map must also be approved by the Korean government before being transferred outside the country. The map’s usage by Google is also limited to navigation and direction services.

Feb 27, 2026By Ko Dong-hwan
Korea conditionally approves Google request to export map data

Hyundai Motor to invest $6.3 bil. for physical AI, robots in Saemangeum

Hyundai Motor Group will invest 9 trillion won ($6.26 billion) in the Saemangeum area of North Jeolla Province to set up an artificial intelligence (AI) data center for a physical AI, robot and component manufacturing cluster, water electrolysis plant, solar power facility and hydrogen model city. Hyundai Motor Group announced this initiative on Friday during an MOU signing ceremony attended by President Lee Jae Myung, along with ministers and municipal leaders. Hyundai Motor Group Executive Chair Chung Euisun and other top executives of the group also joined the ceremony. “The next-generation industrial paradigm that will take shape in Saemangeum will become a pivotal turning point for the future of not only North Jeolla Province but also Korea,” Hyundai Motor Group Vice Chair Chang Jae-hoon said while introducing the initiative. “Equipped with manufacturing expertise as well as capabilities in robotics, AI and hydrogen energy, Hyundai Motor Group is ready to build an advanced industrial ecosystem.” Saemangeum is a massive reclaimed area in North Jeolla Province developed for m

Feb 27, 2026By Nam Hyun-woo
Hyundai Motor to invest $6.3 bil. for physical AI, robots in Saemangeum

Gov't advises KEPCO, KHNP to resolve legal dispute over UAE plant project at home

The government on Friday advised the Korea Electric Power Corp. (KEPCO) and the Korea Hydro & Nuclear Power Co. (KHNP) to settle their legal dispute over payments involving a United Arab Emirates (UAE) power plant project domestically. The Ministry of Trade, Industry and Resources advised the two state-run companies to transfer the case, currently pending at the London Court of International Arbitration (LCIA), to the Korean Commercial Arbitration Board. It cited benefits in the cost and litigation period, as well as risks of South Korea's nuclear power plant technologies potentially being leaked overseas. The ministry also urged the companies to form a consultative body to hold negotiations for a resolution. KEPCO and KHNP have been undergoing a dispute for months over the payment of additional construction costs for their joint Barakah nuclear power plant project, under which they completed the construction of four nuclear reactors in the UAE. The 20 trillion-won ($13.95 billion) project marked Korea's first-ever overseas nuclear power project. Last year, KHNP filed an arbitration claim

Feb 27, 2026By Yonhap
Gov't advises KEPCO, KHNP to resolve legal dispute over UAE plant project at home

Korean Air's carbon emissions down 3.3% in 2025 despite increased flights

Korean Air's carbon emissions from flight operations dropped 3.3 percent from a year earlier in 2025 despite an increase in the number of flights, the company said Friday. The airline said its annual carbon emissions totaled 12.18 million tons last year, down by about 420,000 tons from 12.6 million tons in 2024. The South Korean flag carrier managed to reduce its emissions volume last year despite a 2.6 percent year-on-year increase in operations to 189,851 flights. The airline attributed the reduction to comprehensive fuel management efforts, including the deployment of newer aircraft, optimized flight routes and selection of alternate airports for short-haul flights. Korean Air said it has also overhauled its operational system to minimize carbon emissions and introduced technologies based on artificial intelligence (AI) to enhance fuel management efficiency.

Feb 27, 2026By Yonhap
Korean Air's carbon emissions down 3.3% in 2025 despite increased flights

Coupang founder apologizes over data leak in earnings call

Bom Kim, Coupang founder and chairman of the U.S.-headquartered Coupang Inc., issued his first verbal apology regarding last year’s large-scale customer data breach in Korea, during an earnings call, Friday. Speaking during Coupang Inc.'s earnings call for the fourth quarter of last year, Kim said he once again apologized for the customers' concern and inconvenience caused by the personal data leak that occurred last year. Kim issued a written apology in December, about a month after the data breach was disclosed, but this was the first time that he has apologized directly in a public setting.

Feb 27, 2026By Nam Hyun-woo
Coupang founder apologizes over data leak in earnings call

Lotte, Hyundai win approval to operate new duty-free zones at Incheon airport

Lotte Duty Free and Hyundai DF Co. said Thursday they have received approval to operate duty-free zones vacated by two retailers at Incheon International Airport. Lotte and Hyundai submitted bids in January for licenses to operate the DF1 and DF2 zones. Last month, Incheon International Airport Corp. (IIAC), the operator of the country's main gateway, selected the two companies as preferred bidders. The previous operators, Shinsegae Duty Free Inc. and Hotel Shilla Co., relinquished their licenses amid declining sales. With approval from the Korea Customs Service, Lotte and Hyundai will operate the DF1 and DF2 zones, respectively, for seven years through June 2033, with an option to extend the contracts to up to 10 years, IIAC said. "We expect operations at the DF1 zone to generate more than 600 billion won ($420 million) in annual sales," a Lotte official said. Hyundai expected annual sales of 1.1 trillion won in the duty-free business. Shinsegae plans to cease operations at the DF2 zone by April 27, while its duty-free shops in the airport's DF4 zone will continue operating. In September l

Feb 26, 2026By Yonhap
Lotte, Hyundai win approval to operate new duty-free zones at Incheon airport

CJ Cheiljedang to cut flour prices by additional 5%; bakery chain to lower costs

CJ Cheiljedang, a major Korean food company, said Thursday it will lower prices of its flour products for both business-to-business (B2B) and retail consumers by an additional 5 percent on average. The move follows earlier price cuts of 4 percent for B2B products and 5.5 percent for retail consumer products, bringing total price cuts since the beginning of the year to nearly 10 percent in some categories. The decision comes after Fair Trade Commission (FTC) Chairman Ju Biung-ghi said earlier this week that flour prices should be lowered by at least around 10 percent in light of alleged industry collusion practices. CJ Cheiljedang is currently under investigation by the FTC over suspected collusion in flour pricing. It has recently faced hefty fines for colluding with two smaller rivals to fix sugar prices. A company official said the additional price cut reflects efforts to align with the government's price stabilization policy despite difficult business conditions. Separately, CJ Foodville, which operates the bakery chain Tous les Jours, said it will also reduce prices of 17 bread and ca

Feb 26, 2026By Yonhap
CJ Cheiljedang to cut flour prices by additional 5%; bakery chain to lower costs

Samsung Electronics reclaims No. 1 spot in global DRAM market in Q4

Samsung Electronics reclaimed the top spot in the global dynamic random-access memory (DRAM) market in the fourth quarter of last year, driven by increased sales of high bandwidth memory (HBM), data showed Thursday. According to the data by market research firm TrendForce, Samsung Electronics' DRAM sales reached $19.3 billion in the October-December period, up 43 percent from the previous quarter, with a market share of 36 percent. SK hynix saw its fourth-quarter DRAM sales rise 25.2 percent on-quarter to $17.2 billion, dropping to the second place with a 32.1 percent market share. U.S.-based Micron Technology placed third, posting DRAM sales of $12 billion and accounting for 22.4 percent of the market. It marks the first time Samsung has led the DRAM market since losing the top position in the first quarter of 2025 — its first loss of the title in 33 years. Industry observers said the shift in market share came as Samsung Electronics began supplying its fifth-generation HBM chips to Nvidia and expanded production of legacy memory products amid recent price increases.

Feb 26, 2026By Yonhap
Samsung Electronics reclaims No. 1 spot in global DRAM market in Q4
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