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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.

SK Innovation consortium wins $2.3 bil. LNG project in Vietnam

SK Innovation Co., Korea's leading refiner, said Thursday a consortium it formed with two Vietnamese companies has won a 3.3 trillion-won ($2.3 billion) power plant and liquefied natural gas (LNG) terminal project in Vietnam. The consortium — comprising SK Innovation, Vietnamese power producer PV Power and sugar manufacturer NASU — won the project from the Nghe An provincial government in north-central Vietnam, the company said in a press release. Under the deal, the consortium will build a dedicated LNG port, an LNG terminal and a 1.5-gigawatt combined-cycle gas-fired power plant in Nghe An by 2030, with construction set to begin next year, it said. SK Innovation said it is considering shipping LNG to the Vietnamese terminal and operating it as a hub to supply fuel to power plants in neighboring areas. "Through this project, the company aims to become a major LNG player with processing capacity of 10 million tons per year by 2030, up from the current 6 million tons," a company spokesperson said.

Feb 19, 2026By Yonhap
SK Innovation consortium wins $2.3 bil. LNG project in Vietnam

Samsung Electronics employees' wages up 20% in 2025: report

The average annual salary of employees at Samsung Electronics is estimated to have jumped nearly 20 percent in 2025 from a year earlier amid an artificial intelligence (AI) boom, a report showed Thursday, with the total number of workers falling slightly. According to a report released by the Korea CXO Institute, the average annual salary of Samsung Electronics employees, excluding registered executives, was estimated at around 155 million won ($106,000), up 19.2 percent from 130 million won in 2024. The findings were based on an analysis of the firm's workforce expenses and the number of employees enrolled in the national pension program, the industry tracker said. The Korean tech giant, meanwhile, appears to have reduced the recruitment of new workers in 2025, as the total number of employees enrolled in the national pension program came to 124,996, down 0.5 percent from a year earlier. "Last year, some global tech companies reduced employment despite strong earnings amid the AI boom," the institute said in its report. "Major conglomerates, including Samsung Electronics, may see slower

Feb 19, 2026By Yonhap
Samsung Electronics employees' wages up 20% in 2025: report

POSCO becomes 1st Korean firm to earn certification for advanced warship materials

POSCO has set a new milestone in Korea’s defense industry with the development of advanced structural materials for naval vessels. The company said Thursday it successfully developed the nation’s first high-ductility hull structural steel and ballistic-resistant steel for naval use, both of which received classification certification in January from the Korean Register, a domestic ship classification society. Classification societies are organizations that evaluate and certify the safety and quality of materials, design and manufacturing processes used in ships and offshore structures. These institutions set standards and regulations that all such materials must meet. According to the steelmaker, the certification followed a comprehensive process that included material development, weldability verification and evaluation of protective performance for warships. High-ductility steel refers to steel with greater elongation and toughness than conventional grades, allowing it to stretch or deform under impact without fracturing. POSCO’s newly developed material improves elongation by mor

Feb 19, 2026By Park Jae-hyuk
POSCO becomes 1st Korean firm to earn certification for advanced warship materials

McDonald's Korea to raise prices of 35 menu items on higher costs

McDonald's Korea, the local unit of U.S. fast-food giant McDonald's, said Thursday it will raise the prices of 35 menu items by an average of 2.4 percent this week, citing higher costs. The increase comes less than a year after its previous price adjustment in March 2025, when the company raised prices of 20 menu items by an average of 2.3 percent. "The revision was inevitable due to the won's weakness against the U.S. dollar, which has driven up raw material costs, as well as higher labor expenses," the company said in a press release. Under the new pricing, the signature Big Mac combo will cost 7,600 won ($5.20) starting Friday, up from 7,200 won, the company said. The price of the company's bulgogi burger will increase by 200 won to 3,800 won. Prices of some side dishes and beverages will also rise. Earlier this month, Burger King, another U.S. fast-food chain, raised prices of its products in Korea for similar reasons. The price of its flagship Whopper burger was raised by 200 won to 7,400 won.

Feb 19, 2026By Yonhap
McDonald's Korea to raise prices of 35 menu items on higher costs

Musk makes rare direct appeal to Korea’s chip designers

Elon Musk, CEO of Tesla, is personally spearheading a recruitment drive in Korea, issuing a rare direct appeal to semiconductor professionals in the country. On Tuesday (local time), Musk reposted a hiring announcement from Tesla Korea on X, adding a Korean flag emoji and writing, “If you're in Korea and want to work on chip design, fabrication or AI software, join Tesla!” Tesla Korea had posted the job listing a day earlier, seeking artificial intelligence (AI) chip design engineers. The company said the project involves developing AI chip architecture for what it hopes will become the world’s highest-level mass-produced AI chips with the largest production volume globally, and invited applications from candidates with expertise in AI chip development. Applicants are required to submit descriptions of the three most challenging technical problems they have solved, according to the notice. While Musk has previously shared Tesla-related hiring posts, it is unusual for him to explicitly single out semiconductor professionals in a specific country. Industry observers view the move as p

Feb 18, 2026By Kang Seung-woo
Musk makes rare direct appeal to Korea’s chip designers

China-made EVs shake up Korea’s imported car market

Price-competitive electric vehicles (EVs) made in China are rapidly reshaping Korea’s imported car market — once dominated by legacy European carmakers — as emerging EV brands are gaining ground through aggressive pricing and growing consumer trust, according to data and industry officials Wednesday. Data from the Korea Automobile and Mobility Association showed that EVs produced in China accounted for roughly one-third of newly registered EVs in Korea last year, a sharp increase from about 1 percent in 2021. Last year, a total of 220,177 EVs were registered here, and the number of EVs produced in China reached 74,728 out of them. The surge reflects the rising presence of China-based production in global supply chains and improving consumer perceptions of vehicles built there. Strong demand for the Tesla Model Y and Tesla Model 3, both produced at Tesla’s Shanghai Gigafactory, has propelled EV sales growth in Korea. The U.S. automaker has maintained steady promotional campaigns here to expand its customer base, particularly for its affordable EV lineup, which helped it sustain sa

Feb 18, 2026By Lee Min-hyung
China-made EVs shake up Korea’s imported car market

YouTube says service normalized after temporary outage

YouTube said it fixed an issue that temporarily blocked access to the video-sharing platform earlier Wednesday, after hundreds of thousands of users reported disruptions around the globe, including Korea. "The issue with our recommendations system has been resolved and all of our platforms (YouTube.com, the YouTube app, YouTube Music, Kids, and TV) are back to normal," the company said in an update. Earlier in the day, an error occurred on YouTube, preventing users from playing or watching videos when accessing the platform via its mobile app and desktop computers. Google Korea notified the science ministry of the error at 10:03 a.m. The service disruption is estimated to have lasted for about one hour until 11:07 a.m., according to officials. At its peak, more than 320,000 user reports of issues related to YouTube were filed with Down Decker, an online platform that tracks service outages of IT and social media platforms. The outage also drew attention in Korea, as it came on the last day of a long Lunar New Year holiday. YouTube, operated by Google, is the most widely used video platform

Feb 18, 2026By Yonhap
YouTube says service normalized after temporary outage

Genesis extends title sponsorship of Genesis Invitational

Genesis has extended its sponsorship of the Genesis Invitational hosted by Tiger Woods, reaffirming its commitment to enhancing the value of the historic professional golf tournament, the luxury carmaker said Wednesday. Under the multiyear agreement with the PGA Tour, Genesis will continue as the title sponsor of the Genesis Invitational through 2030. Key executives from both sides attended the signing ceremony, including Hyundai Motor Group Executive Chair Chung Euisun, PGA Tour CEO Brian Rolapp and Woods. “We are proud to extend our partnership with the PGA Tour, Tiger Woods and the TGR Foundation, and to continue the journey of the Genesis Invitational through 2030,” Chung said. “The Genesis Invitational represents the values of integrity, respect and excellence that define both the sport of golf and the Genesis brand.” The 2026 Genesis Invitational marks a significant milestone for the tournament, as the event will be contested for the 100th time, marking a century of professional golf in Los Angeles. The 2026 tournament also highlights the resilience of the event and the comm

Feb 18, 2026By Lee Min-hyung
Genesis extends title sponsorship of Genesis Invitational

Korea goes adrift in processing legislation of US investment

Korea faces mounting uncertainty over the timely passage of legislation required to implement its $350 billion investment pledge in the United States, as partisan rancor in the National Assembly shows little sign of letting up. Last week, Seoul launched a special Assembly committee tasked with shepherding the legislation amid mounting trade pressure from Washington. The U.S. has warned it could reinstate a 25 percent tariff on Korean imports, up from the current 15 percent, citing delays in Seoul’s ratification of a bilateral trade agreement clinched in November 2025. The committee is mandated to operate for one month through March 9, with the stated goal of securing passage within that timeframe. However, the committee’s inaugural meeting Thursday was cut short by a bipartisan dispute, which fuels concerns that the political polarization will continue to impede progress of upcoming meetings. With the legislative clock ticking, the prospect of a timely breakthrough remains unclear. A reversion to the 25 percent tariff would pose a material risk to Korea’s export-driven economy. Majo

Feb 16, 2026By Lee Min-hyung
Korea goes adrift in processing legislation of US investment

SK Telecom gets over 340,000 users in January amid KT fee waiver

SK Telecom Co., Korea's largest mobile carrier, gained more than 340,000 customers through mobile number portability (MNP) last month, as KT Corp. waived early termination fees following a major data breach, industry data showed Monday. A total of 342,000 users switched to SK Telecom via MNP in January, up 184.7 percent, or about 222,000 users, from the previous month, according to data compiled by the Korean Telecommunications Operators Association. MNP refers to a system that allows mobile phone subscribers to keep their existing phone numbers when changing operators. Of the total inflow, 221,000 users moved from KT, compared with 45,000 a month earlier, while 73,000 users switched from LG Uplus Corp. LG Uplus, the country's No. 3 mobile operator, attracted 183,000 users from rival companies last month, up 102.3 percent on-month, including 80,000 users from KT. Meanwhile, KT saw its MNP inflow rise 53.2 percent month-on-month to 121,000 users in January. KT implemented a program to waive cancellation fees for customers seeking to terminate their contracts before the end of their terms fo

Feb 16, 2026By Yonhap
SK Telecom gets over 340,000 users in January amid KT fee waiver
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