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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.

InterviewUS DOGE-style ministry feasible in Korea, AMCHAM chief says

American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim supported the idea of the Korean government establishing a businessperson-led ministry, similar to the now-dissolved Department of Government Efficiency (DOGE) in the United States. Calling the concept one way to advance the chamber’s continuing efforts to encourage multinational companies to place their Asia-Pacific headquarters in Korea, the Korean American head of the U.S. business lobby emphasized the need for regulatory predictability and labor flexibility if Korea is to compete effectively with Singapore, Hong Kong and Shanghai. "It's very feasible, and it's important for Korea," Kim told The Korea Times in an interview on Feb. 10 when asked whether he intended to suggest that the government elevate the existing joint committee on regulatory reforms to a ministry or quasi-ministry similar to DOGE. Despite the common belief that Korea’s liberal party tends to tighten regulations when it comes to power, the chairman remained optimistic about potential deregulatory measures under President Lee Jae Myung, whom he de

Feb 23, 2026By Park Jae-hyuk
US DOGE-style ministry feasible in Korea, AMCHAM chief says

What to know about US tariff ruling’s impact on Korea

Questions over trade linger between Korea and the United States, as U.S. President Donald Trump is showing no signs of relenting to the Supreme Court’s ruling on Friday (local time) that his tariff hikes based on International Emergency Economic Powers Act (IEEPA) were illegal. Condemning the court’s decision, Trump imposed a 10 percent global tariff through an executive order on Saturday, raising it to 15 percent just a day later. With the latest measure adding greater market uncertainties over the Korea-U.S. trade landscape, here are some key points that may help make sense of the volatile situation. Which Korean export items are affected? The ruling affects Trump’s so-called “reciprocal tariffs,” which were based on the IEEPA. Items that were levied under other legal grounds are not affected by his latest ruling. Citing the IEEPA, the Trump administration announced blanket tariffs of 25 percent on Korea in April last year. Automobiles and auto parts were subject to a separate 25 percent tariff under a different legal basis. In July last year, after Korea pledged $350 billion

Feb 22, 2026By Ko Dong-hwan
What to know about US tariff ruling’s impact on Korea

Paris Baguette cake grabs spotlight at Nvidia CEO’s birthday

Korean bakery brand Paris Baguette got an unexpected marketing boost when the global brand's cake was served at Nvidia CEO Jensen Huang’s birthday party in the United States. According to the brand’s operator, Paris Croissant, on Sunday, a Paris Baguette Strawberry Soft Cream Cake was delivered to the party at a restaurant near the U.S. company’s headquarters in Santa Clara, California on Feb. 14 (local time). The party was held three days before the artificial intelligence (AI) semiconductor expert's birthday. Huang invited 30 key engineers behind SK hynix’s DRAM and high-bandwidth memory 4 to the celebration. The venue, a fried chicken joint called 99 Chicken, is the same restaurant where SK Group Chairman Chey Tae-won met with Huang on Feb. 5 to discuss business collaborations. Huang energized the gathering by personally mixing and serving "somaek" — a blend of soju and beer — to Korean guests at each table. “It was all about the symbolic moment — our brand's cake being present at a birthday party for the current leader of the global AI industry. It was a total boon wi

Feb 22, 2026By Ko Dong-hwan
Paris Baguette cake grabs spotlight at Nvidia CEO’s birthday

LG Electronics eyes to double sales in Brazil, India, Saudi Arabia by 2030

LG Electronics announced a goal of doubling its sales in the global south by 2030, driven by business strategies tailored to key markets including Brazil, India and Saudi Arabia. The company said Sunday that its combined revenue in Brazil, India and Saudi Arabia stood at 6.2 trillion won ($4.28 billion) last year, up more than 20 percent from that of 2023. The figure is more than double the company’s overall revenue growth during the same period, demonstrating the strong growth momentum in the emerging markets. LG Electronics said it will double the revenue from the countries by 2030, in a view that those high-potential markets can propel the company’s mid- to long-term growth and diversify its portfolio that has been centered on advanced markets such as Korea, North America and Europe. Brazil is the world’s 11th-largest economy, with purchasing power improving due to government policies aimed at supporting low-income households. LG Electronics plans to step up its push into the market by expanding its local production bases. The company is in the final phase of constructing a 70,000

Feb 22, 2026By Nam Hyun-woo
LG Electronics eyes to double sales in Brazil, India, Saudi Arabia by 2030

Samsung reclaims top spot in global DRAM market in Q4

Samsung Electronics reclaimed the top spot in the global market for dynamic random-access memory (DRAM) in the fourth quarter last year, data showed Sunday. According to data compiled by industry tracker Omdia, Samsung Electronics saw its DRAM sales jump 40.6 percent on-quarter to $19.1 billion in the October-December period, accounting for 36.6 percent of the global market. SK hynix accounted for 32.9 percent of the market in the fourth quarter of 2025, with its sales rising 25.2 percent on-quarter to $17.2 billion, Omdia added.

Feb 22, 2026By Yonhap
Samsung reclaims top spot in global DRAM market in Q4

FTC softens stance on Coupang amid US tariff pressure

Korea’s antitrust watchdog appears to be easing its hard-line regulatory stance against Coupang, in an apparent strategic retreat amid concerns over potential trade friction with the United States. On Thursday, the Fair Trade Commission (FTC) said it cannot impose a business suspension on Coupang over last year’s data breach, citing a lack of evidence showing specific financial damage to users resulting from the leak. This sharply contrasts with FTC Chairman Ju Biung-ghi’s previous messaging regarding Coupang. He remained stern in his regulatory view, leaving open the possibility of slapping a business suspension on the firm. The shift is seen as a calculated move to avoid potential trade tensions with Washington at a sensitive time, as Coupang interim CEO Harold Rogers is slated to testify before the U.S. House Judiciary Committee on Feb. 23. He will comment on his treatment during the probe by Korean police and authorities. Rogers’ upcoming appearance before the committee has heightened concerns that the ongoing Coupang scandal here could spill into a wider trade conflict betwe

Feb 21, 2026By Lee Min-hyung
FTC softens stance on Coupang amid US tariff pressure

Hanwha Ocean mired in conflict with subcontracted workers over bonus payment

Unionized subcontracted workers at Hanwha Ocean’s Geoje shipyard in South Gyeongsang Province have denounced the company, accusing it of breaking a promise to align the ratio of in-house subcontracted workers’ performance-based bonuses to their base salaries with that of the company’s direct employees — a pledge praised by President Lee Jae Myung in December. After Hanwha Ocean distributed performance-based bonuses ahead of the Lunar New Year holiday, the workers claimed the company had continued to discriminate against them. “Unlike direct employees, whose length of service did not affect the ratio of their performance-based bonuses to base pay, the ratio for subcontracted workers varied depending on how many years they had worked at the shipyard,” the workers said in a statement Thursday. “Each of the 4,000 migrant subcontracted workers received a performance-based bonus equal to 46.8 percent of what Korean subcontracted workers with the same tenure received.” The union also said that employees of Welliv, the unit managing cafeterias and other amenities at the shipyard,

Feb 20, 2026By Park Jae-hyuk
Hanwha Ocean mired in conflict with subcontracted workers over bonus payment

POSCO Holdings to cancel 635.1 bil won in treasury shares in 2026

POSCO Holdings, South Korea's leading steelmaker, said Friday it will cancel 635.1 billion won ($439 million) worth of treasury shares this year to enhance shareholder value. The planned cancellation represents 2 percent of the company's total treasury shares and forms part of a broader three-year plan to retire 1.7 trillion won, or 6 percent of its total treasury shares, from 2024 through 2026, the company said in a press release. POSCO Holdings said it will maintain its dividend of 10,000 won per share this year despite a global economic slowdown and rising protectionism in key export markets. For 2025, the company's net profit plunged 47 percent to 500 billion won from 950 billion won a year earlier partly due to the impact of sweeping U.S. tariffs on steel imports. The United States currently imposes a 50 percent tariff on steel imports from South Korea.

Feb 20, 2026By Yonhap
POSCO Holdings to cancel 635.1 bil won in treasury shares in 2026

Korea under pressure to invest in Louisiana LNG to lower US tariffs

A U.S. request for Korea to invest in Louisiana’s liquefied natural gas (LNG) industry has emerged as a key agenda item in ongoing trade talks between the two countries. U.S. President Donald Trump’s threat to raise tariffs on Korean goods back to 25 percent from 15 percent — the level agreed upon last November — has been attributed partly to Seoul’s rejection of that request. The Ministry of Trade, Industry and Resources on Friday neither confirmed nor denied a report that Washington began warning of the tariff hike after Korea refused to invest in Louisiana LNG export terminals. Citing multiple government sources, the Dong-A Ilbo reported that Seoul’s trade negotiators told their U.S. counterparts that it would be difficult to make decisions unless the National Assembly passes a bill to formalize Korea’s planned $350 billion investment in American industries. “Please excuse us for not going into specifics about discussions on U.S. investment projects,” the ministry spokesperson said in a press statement. The government’s working-level delegation sent to Washington on

Feb 20, 2026By Park Jae-hyuk
Korea under pressure to invest in Louisiana LNG to lower US tariffs

CJ, 6 other flour makers under FTC probe for price-fixing

CJ CheilJedang and six other flour makers in Korea have come under an intensive probe by the Fair Trade Commission (FTC) over alleged price-fixing, a move that could lead to penalties totaling up to 1 trillion won ($690 million). The firms are suspected of having engaged in repeated collusion over flour prices and distribution for nearly six years starting in 2019. The watchdog estimated that sales affected by the alleged cartel activity amounted to approximately 5.8 trillion won during the same period. The seven firms include CJ CheilJedang, Samhwa Flour Mills, Samyang, Daesun Flour Mills, Daehan Flour Mills, Sajo DongA One and Hantop. According to the FTC, it can impose fines of up to 20 percent of the sales generated from products affected by collusion. The latest investigation is part of the watchdog’s broader investigation to root out collusive and unfair practices that undermine price stability for essential goods here. The latest probe, which began in October 2025, focused on the business-to-business (B2B) flour transaction. The seven firms account for a combined market share of

Feb 20, 2026By Lee Min-hyung
CJ, 6 other flour makers under FTC probe for price-fixing
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