my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids

    The Fair Trade Commission (FTC) has rejected self-correction proposals from the country's top two food delivery platforms, Baedal Minjok, informally known as Baemin, and Coupang Eats, paving the way for fines that could amount to tens of billions of won over allegations that they abused their market dominance, the antitrust watchdog said Thursday. The regulatory authority rejected the companies’ applications for a consent decree — a mechanism that allows firms to resolve antitrust cases without admitting liability by offering voluntary remedies — ruling that they did not meet the legal requirements to initiate such a settlement process. The fines expected to be imposed on Baemin and Coupang are estimated at 239 billion won ($157 million) to 510 billion won, and 25 billion won to 42 billion won, respectively. Following the latest decision, the watchdog will resume its formal review to determine the illegality of the practices and the scale of sanctions. The watchdog’s probe into the two companies has focused on finding alleged anti-competitive practices, including unfair treatment

    2 MIN READBy Lee Min-hyung
    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids
  • Companies

    KHNP CEO reviews Dukovany project in Czech Republic

    2 MIN READBy Lee Gyu-lee
    KHNP CEO reviews Dukovany project in Czech Republic
  • Companies

    POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace

    2 MIN READBy Lee Gyu-lee
    POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace
  • Banking & Finance

    All-in-one apps emerge as new battleground among financial groups

    1 MIN READBy Lee Hyo-jin
    All-in-one apps emerge as new battleground among financial groups
  • Companies

    BMW Korea launches iX3 electric SUV with revamped design

    2 MIN READBy Lee Min-hyung
    BMW Korea launches iX3 electric SUV with revamped design
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

Samsung enlists Perplexity AI to refine Bixby for home appliances

Samsung Electronics has rolled out an upgraded version of its Bixby voice assistant across a new lineup of artificial intelligence (AI)-powered home appliances, improving natural language understanding and adding a generative AI question-and-answer feature through integration with Perplexity. The upgraded AI features have been introduced across Samsung’s 2026 lineup, including Family Hub refrigerators, air conditioners, robot vacuums, water purifiers and new washing machines equipped with a 7-inch display. The enhanced Bixby, built on a large language model, is designed to understand user intent from everyday speech rather than rely on preset commands. It draws on context from both a user’s request and prior interactions to deliver more relevant responses. For example, if a user tells the refrigerator, “I put in beef and mackerel — change the mode,” it will automatically switch to a setting optimized for storing meat and fish. A request like “I’m going to have whisky — make me some ice” will prompt the appliance to produce round ice suited for drinks. The system also en

Mar 31, 2026By Jhoo Dong-chan
Samsung enlists Perplexity AI to refine Bixby for home appliances
Companies

Baemin operator becomes latest victim of data misuse by partner firm

Woowa Brothers, operator of major online food ordering platform Baedal Minjok, has become the latest company to suffer a customer data leak carried out by a criminal ring. Woowa Brothers said it was informed by Seoul's Yangcheon Police Station on Friday that a partner firm managing its customer service center had been infiltrated by a member of a criminal group disguising as a new recruit. The perpetrator intended to steal the personal data of a Baedal Minjok customer, including the person’s contact number and address. Police said the criminal had been paid by an unidentified client seeking personal retaliation. After acquiring the necessary information to approach the target, the criminal left human excrement and scribbles on the entrance door of the victim’s home. “Yangcheon police first informed us about the crime last Friday, shortly after which they apprehended all the suspects. The police were heading to the Seoul Western District Prosecutors’ Office to determine whether arrest warrants would be required,” a Woowa Brothers official said. Police said the criminals acted li

Mar 31, 2026By Ko Dong-hwan
Baemin operator becomes latest victim of data misuse by partner firm
Tech & Science

SK hynix faces US probe over claims by ‘patent troll’

The U.S. Trade Commission (USITC) is launching an investigation into MonolithIC 3D’s claim that SK hynix has infringed certain NAND flash and dynamic random access memory chip patents, raising concerns that the Korean chipmaker may face additional costs. The USITC announced Thursday that it will investigate alleged violations of Section 337 of the Tariff Act based on MonolithIC 3D’s claims. The investigation covers SK hynix’s headquarters in Korea, SK hynix America and SK hynix Memory Solutions America, as well as seven units of Japanese NAND firm Kioxia. MonolithIC 3D is a non-practicing entity (NPE), which does not manufacture products or use technologies by itself, but instead files lawsuits against large companies based on patents registered in the past. Since NPEs mostly use vague patents to demand large settlements or licensing fees, they are often times called “patent trolls.” MonolithIC 3D filed the complaint on Feb. 17, alleging that SK hynix and Kioxia infringed its patents related to high-bandwidth memory (HBM) and NAND flash memory. It sought a ban on the importati

Mar 31, 2026By Nam Hyun-woo
SK hynix faces US probe over claims by ‘patent troll’
Companies

JTI Korea to launch new heated tobacco product to expand market presence

JTI International Korea, the Korean unit of Switzerland-based tobacco company JTI SA, is set to launch a new heated tobacco product in Korea, the company said Tuesday, as part of efforts to expand its presence in Asia's fourth-largest economy. The company said it plans to introduce its Ploom AURA device in Seoul and selected metropolitan areas starting April 14. JTI entered the Korean market in 1992 and plans to make significant investments to strengthen its product portfolio. "Korea is one of the most dynamic markets in the world. The sophistication of consumer expectations and the pace of innovation make it a uniquely important environment for breakthrough products," Irina Lee, general manager of JTI Korea, said at a press conference. She did not provide specific sales or market share targets for Korea but said the company aims to achieve mid-teen sales growth across key markets by 2028. The launch of Ploom AURA in Korea is expected to contribute to that goal, she added. Compared with conventional cigarettes, Ploom AURA produces less residual odor in users' hair, clothing and breath, th

Mar 31, 2026By Yonhap
JTI Korea to launch new heated tobacco product to expand market presence
Business

Korea Ginseng Corp. rebrands as KGC to streamline global identity

Korea Ginseng Corp., Korea’s leading health supplement maker, will adopt the name KGC starting Wednesday, stripping its identity to a streamlined corporate form as it pushes to reposition itself as a global health food company. The change, the company said, underscores a broader effort to move beyond its ginseng heritage and recast its brand for international markets. The rebranding comes as the company marks its 127th anniversary and reflects a shift toward a wider portfolio that extends beyond ginseng and red ginseng products. The company said the new identity underscores its core value of promoting “health and happiness for people around the world.” The updated corporate identity retains the existing visual framework but replaces the full name with the initials. The design features a dark gray typeface intended to convey trust, alongside the “seed” symbol of its parent group, KT&G, representing unlimited possibilities. The company said the new branding will be gradually applied across advertisements, its website and product packaging. Alongside the rebranding, KGC said it wi

Mar 31, 2026By Lee Kyung-min
Korea Ginseng Corp. rebrands as KGC to streamline global identity
Companies

Hankook & Company names new CEO

Hankook & Company has appointed Kim Joon-hyun, former executive vice president in charge of the firm’s overall management, as its new co-CEO in recognition of his expertise in mapping out the firm’s mid- to long-term growth strategy, the company said Tuesday. The latest reshuffle of top management marks the company's shift to a dual leadership structure. Before Kim’s appointment, Co-CEO Park Jong-ho led the firm as a sole leader. Hankook & Company explained that the dual leadership system is aimed at strengthening its strategic functions and accountability, while at the same time pursuing mid- to long-term growth and enhancing shareholder value. Kim will lead overall management, while Park will oversee the firm’s battery business. The newly appointed CEO will be responsible for establishing and executing the firm’s long-term growth strategies, improving portfolio value and enhancing financial soundness and capital efficiency. He will also advance its governance system. Kim started his career at Samil PwC and previously took on senior roles at CJ CheilJedang where he served as he

Mar 31, 2026By Lee Min-hyung
Hankook & Company names new CEO
Companies

JobKorea launches unified platform to make hiring easier for companies

JobKorea, Korea’s largest career and recruitment platform, unveiled Tuesday an integrated hiring solution called Hiring Center, designed for corporate clients seeking to streamline their recruitment operations. The platform, initially available to a select group of companies, brings the entire hiring workflow — from job postings and applicant tracking to communication and operational reporting — into a single interface. The platform is designed to serve as a centralized hub for all hiring-related tasks, replacing scattered tools and processes that previously operated across separate systems. Hiring Center enables multi-user collaboration, allowing recruitment teams manage the entire hiring process within a shared workspace. Key features include organizing applicants by job posting, tracking progress through each stage of hiring, communicating with candidates, scheduling and generating performance reports — all from a single dashboard. The company said the platform’s integrated design is intended to enhance transparency and operational efficiency throughout the recruitment proce

Mar 31, 2026By Jhoo Dong-chan
JobKorea launches unified platform to make hiring easier for companies
Tech & Science

Innospace unveils Sebit suborbital rocket aimed at expanded launch service

Innospace, a Korean space startup, unveiled Tuesday a new multipurpose suborbital rocket, named Sebit, as its seeks to expand its launch service portfolio to meet a wider range of missions. Sebit is powered by a 3-ton-class hybrid engine and can reach altitudes of more than 50 kilometers, while transmitting real-time position and payload data for continuous monitoring during flight, the company said in a press release. A suborbital rocket is a launch vehicle that travels on a trajectory that does not reach orbital velocity, allowing it to conduct short-duration missions before returning to Earth. Sebit marks an expansion of Innospace's rocket lineup beyond its Hanbit launch vehicle, enabling it to offer testing, validation and research services in addition to satellite launch capabilities. Innospace plans to conduct Sebit's maiden flight test in July at the Alcantara Space Center in Brazil to verify its performance. "Demand for transportation platforms using flight vehicles is rapidly expanding beyond satellite launches to include technology validation and experimental applications in hig

Mar 31, 2026By Yonhap
Innospace unveils Sebit suborbital rocket aimed at expanded launch service
Companies

Hanwha wins 1st US Navy subcontract for next-generation logistics ship

Hanwha Defense USA and Hanwha Philly Shipyard have secured their first project with the U.S. Navy as subcontractors to Vard Marine US for the Next Generation Logistics Ship (NGLS) program, also known as the light replenishment oiler (T-AOL). The contract marks the first U.S. Navy award to Hanwha Defense USA since the company’s establishment and Hanwha Group’s acquisition of the Philly Shipyard. Since December 2024, Hanwha has invested more than $200 million to upgrade the shipyard’s workforce, capabilities and capacity. Under the deal, Hanwha will partner with VARD to conduct a market survey and carry out concept design and refinement for the new NGLS platform. The company will also support manufacturability, commercial construction practices and the evaluation of production costs. The award includes options for functional design planning and special studies. The NGLS is designed to provide sustained afloat or ashore refueling, resupply and rearm capabilities through a smaller platform using commercially available, non-developmental and proven technologies. “This award represents

Mar 31, 2026By Park Jae-hyuk
Hanwha wins 1st US Navy subcontract for next-generation logistics ship
Companies

Emart opens 1st PB brand outlet in Thailand

Emart, Korea's largest discount retailer, said Tuesday it has opened its first private-label No Brand outlet in Thailand as part of its global expansion strategy. The company has signed a master franchise agreement with local partner Central Food Retail to launch its offline retail business at the Central Bangna shopping mall in Bangkok, the company said in a press release. Under the agreement, the franchisee is authorized to open and operate stores within the designated territory and to grant subfranchise rights to third parties. The new store marks the first offline outlet established by a Korean retailer in Thailand, the company said. The outlet offers around 2,300 products, including Korean snacks, instant noodles and home meal replacement (HMR) items. It also features a cooking station serving Korean dishes, such as "gimbap" and "tteokbokki," a spicy rice cake dish. "The first No Brand store will serve as a strategic bridgehead to promote Emart's brand and Korean food in Southeast Asia," a company official said. In December 2024, Emart opened its first No Brand outlet in Laos and has

Mar 31, 2026By Yonhap
Emart opens 1st PB brand outlet in Thailand
previous page
110111112113114
next page

Most Read in Business