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    Public power generation firms' proposed merger sparks debate

    A third-party analysis proposing that the government merge Korea's five state-run power generation companies to streamline structural inefficiency is prompting debates, with civic groups arguing Friday that the merger would still fail to incentivize generators to minimize costs and ultimately expand the use of renewable energy. A day earlier, the Ministry of Climate, Energy and Environment revealed a study report conducted by Samil PwC on optimal scenarios that could improve the efficiency of five state-run power companies — Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power and Korea East-West Power. The companies were originally a singular subsidiary under the country’s exclusive state-run power distributor Korea Electric Power Corp. They were all separated in 2001 as individual entities under the government’s power industry restructuring plan. The report said merging them back is “structurally most appropriate.” It noted that while the government is seeking to introduce renewable energy-based power facilities with an overall capacity of 1

    2 MIN READBy Ko Dong-hwan
    Public power generation firms' proposed merger sparks debate
  • Banking & Finance

    Foreigner stakes in KB Financial exceed 80% as chairman seeks 2nd term

    3 MIN READBy Park Han-sol
    Foreigner stakes in KB Financial exceed 80% as chairman seeks 2nd term
  • Companies

    OpenAI brings ChatGPT ads to Korea, keeps paid plans ad-free

    1 MIN READBy Jhoo Dong-chan
    OpenAI brings ChatGPT ads to Korea, keeps paid plans ad-free
  • Companies

    Cosmax Neo wins award for waste-reducing packaging design

    1 MIN READBy Jhoo Dong-chan
    Cosmax Neo wins award for waste-reducing packaging design
  • Companies

    Indonesian candy Kopiko steals scenes in K-dramas

    2 MIN READBy Ko Dong-hwan
    Indonesian candy Kopiko steals scenes in K-dramas
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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.

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Companies

Huons partners with Sanofi Korea to enter vaccine market

Huons, a subsidiary of Huons Group, said Wednesday it has signed a distribution and co-promotion agreement with Sanofi Korea to enter the domestic vaccine market. Under the deal, effective April 1, Huons will take charge of nationwide distribution and joint marketing of five vaccines developed by Sanofi. The portfolio includes influenza vaccines Vaxigrip, a standard-dose vaccine for the general population, and Efluelda, a high-dose vaccine designed to provide stronger immune protection for older adults, as well as adult vaccines such as the Tdap vaccine Adacel, hepatitis A vaccine Avaxim and meningococcal vaccine MenQuadfi. The partnership marks a strategic move by Huons to expand into the vaccine segment, leveraging Sanofi’s global product lineup alongside its own expertise in injectable drug sales and cold chain logistics. To support the new business, Huons has recently established a dedicated vaccine unit aimed at strengthening its sales capabilities and expanding access to vaccines among health care providers and patients in Korea. The company said it will focus on ensuring stable n

Mar 25, 2026By Nam Hyun-woo
Huons partners with Sanofi Korea to enter vaccine market
Companies

NPS, Hoban pose increasing management threat to Hanjin KAL

The National Pension Service (NPS) and Hoban Group are posing an increasing management threat to Hanjin KAL and its owner family ahead of the latter’s upcoming shareholders’ meeting slated for Thursday. The state-run pension system has decided to oppose Hanjin Group Chairman Cho Won-tae’s reappointment as an internal director during Hanjin KAL’s regular shareholders’ meeting. Hanjin KAL is the holding firm of Hanjin Group. The fund will also vote against the reappointment of Korean Air Vice Chairman Woo Kee-hong for the same position, citing “insufficient oversight” of actions that could undermine corporate value and infringe on shareholder rights. The NPS holds a 5.44 percent stake in Hanjin KAL. It also went on to criticize Cho for having been compensated excessively despite Korean Air’s massive earnings fall last year. He received a combined salary worth 14.58 billion won ($9.73 million) from Hanjin KAL, Korean Air, Asiana Airlines and Jin Air in 2025. The compensation is widely seen as unduly high, as Hanjin KAL recorded a deficit and Korean Air also reported a sharp

Mar 25, 2026By Lee Min-hyung
NPS, Hoban pose increasing management threat to Hanjin KAL
Companies

AMCHAM urges regulatory overhaul for Korea’s financial hub ambitions

The American Chamber of Commerce in Korea (AMCHAM) released a special report Wednesday calling for sweeping regulatory reforms to bolster Korea’s bid to become a leading global financial hub. Titled “Korea’s Financial Hub Agenda,” the report outlines policy recommendations aimed at strengthening the country’s regulatory competitiveness and aligning its financial framework with global standards. Korea’s capital markets have gained notable momentum in recent years. The Korea Exchange is now the world’s ninth-largest bourse by market capitalization, while the benchmark KOSPI has climbed from below 5,000 to above 6,000 under the administration of President Lee Jae Myung. The government is also pushing for inclusion in the MSCI Developed Market Index as part of broader efforts to elevate Korea’s global market status. AMCHAM said the report builds on years of advocacy to position Korea as a premier business hub in the Asia-Pacific region, highlighting opportunities to further enhance its regulatory environment in line with recent market growth. “This report marks AMCHAM’s f

Mar 25, 2026By Park Jae-hyuk
AMCHAM urges regulatory overhaul for Korea’s financial hub ambitions
Companies

Nongshim unveils brand mascot for popular Shin Ramyun noodles

Nongshim, Korea's leading instant noodle maker, introduced a brand mascot for the company's popular Shin Ramyun noodles Wednesday. The character, named Shin, was created on the occasion of the 40th anniversary of Nongshim's flagship product, the company said. The character features a design inspired by the Shin Ramyun packaging. Nongshim built a backstory around the character, saying it has a friendly personality that can bond with anyone in the 4 1/2 minutes it takes to cook Shin Ramyun. The company said it plans to expand consumer engagement and brand awareness through character-based content, including a 30-second animated video on its official YouTube and Instagram channels. Nongshim said it aims to strengthen the Shin Ramyun brand through character marketing that can resonate intuitively with consumers regardless of language or cultural background.

Mar 25, 2026By Yonhap
Nongshim unveils brand mascot for popular Shin Ramyun noodles
Tech & Science

Japan's Line Yahoo to become largest shareholder of Kakao Games

LY Corp., the Japanese operator of Line and Yahoo! Japan, will become the largest shareholder of Kakao Games through an investment company, investing a total of 300 billion won ($200.4 million) in the game developer to revive its growth momentum. Kakao Games said in its regulatory filings Wednesday that LAAA Investment, an investment company backed by LY Corp., will acquire an undisclosed amount of stake in the company and purchase 240 billion won of new rights and 60 billion won worth of convertible bonds. When the transactions close in May, LAAA Investment will become the largest shareholder in Kakao Games, while its current largest shareholder Kakao will become the second-largest shareholder, the company said. Kakao currently holds a 40.7-percent stake in Kakao Games. The transaction will inject 300 billion won into Kakao Games, which the company plans to use to strengthen its global competitiveness and accelerate efforts to build a mid- to long-term growth foundation. Kakao will also reinvest part of the proceeds from the share sale into the deal, maintaining its partnership with Ka

Mar 25, 2026By Nam Hyun-woo
Japan's Line Yahoo to become largest shareholder of Kakao Games
Companies

Airlines forced to reshape strategies as global oil prices soar

Local airlines are being pushed to overhaul their business strategies, as the prolonged surge in global oil prices poses an increasing financial burden to both major airlines and low-cost carriers (LCCs), industry officials said Tuesday. According to a business report released by Korean Air, the airline spent 4.16 trillion won ($2.78 billion) on fuel last year, accounting for 28 percent of its total spending of 14.96 trillion won. With global oil prices rising sharply this year, the carrier is expected to face significantly higher fuel costs for 2026. Korean Air consumes some 30.5 million barrels each year, meaning the carrier faces an increased fuel cost of $30.5 million if the oil price increases by $1 per barrel. “Korean Air is tightening its vigilance on the volatile oil price and hedging fuel costs by using financial derivatives,” a Korean Air official said. Geopolitical risks have also disrupted part of the firm’s operations. Following heightened tensions in the Middle East, Korean Air suspended its Incheon-Dubai route through April 19. The airline had previously operated dai

Mar 25, 2026By Lee Min-hyung
Airlines forced to reshape strategies as global oil prices soar
Companies

MBK-Young Poong expands foothold in Korea Zinc board battle, narrows gap with current management

The MBK Partners-Young Poong alliance gained greater influence over Korea Zinc at a general shareholders’ meeting Tuesday, securing two board seats and narrowing its gap with Chairman Choi Yun-beom’s side to four, industry officials said. The outcome strengthens the alliance’s position in its more than year-and-a-half-long push for management control, enabling it to more effectively challenge Choi’s leadership. Of the five seats up for election, three went to candidates backed by Choi and two to those supported by the MBK-Young Poong coalition. While Choi’s camp retained control of the board and defended its management rights, the board composition shifted from 11-4 to 9-5. Although six directors' terms had expired, Choi’s side suggested appointing five and selecting the remaining one separately as an audit committee member at a future extraordinary meeting. Market watchers said that although Choi still holds a majority, the latest reshuffle signals a meaningful shift in board dynamics, with governance moving toward a more balanced structure with stronger internal checks. In te

Mar 24, 2026By Jun Ji-hye
MBK-Young Poong expands foothold in Korea Zinc board battle, narrows gap with current management
Companies

Samsung Electronics' unionized workers to resume talks with management

Unionized workers at Samsung Electronics said Tuesday they have agreed to resume talks with management ahead of a planned strike in May over bonuses. "We had a labor-management meeting at 2 p.m., and management expressed its willingness to discuss removing the cap on performance-based bonuses and other issues," a joint board of three labor unions, including the National Samsung Electronics Union (NSEU), said in a statement. "Accordingly, we have decided to resume negotiations," it added. The two sides will hold full-scale negotiations on Thursday and Friday following a working-level meeting on Wednesday. The announcement came a day after the joint union body held discussions with Vice Chairman and Chief Executive Officer (CEO) Jun Young-hyun. Last week, the unions said 93.1 percent of their members supported the strike plan in a vote. The three unions have around 90,000 members. The unionized workers have been demanding that management remove a cap on bonuses and grant a 7 percent wage hike, along with greater transparency in calculating performance-based bonuses.

Mar 24, 2026By Yonhap
Samsung Electronics' unionized workers to resume talks with management
Companies

Korea to curb naphtha exports this week

The government plans to begin restricting naphtha exports by oil refiners this week. The emergency measure is in response to a shortage of the key petrochemical feedstock, which was designated last week as critical to economic security. Firms hoarding naphtha will also face severe penalties, including the cancellation of their business registrations. “For essential facilities to stay operational, the government will order adjustments to the overall naphtha supply if the situation worsens,” Yang Ghi-wuk, deputy minister for industry, trade and resource security, said Tuesday during a daily briefing on the Middle East crisis. The plan addresses concerns about potential setbacks in the production of petrochemical-based goods due to the war in Iran, which has disrupted naphtha shipments through the Strait of Hormuz. Before the conflict, more than half of Korea’s naphtha imports passed through the strait. Refined from crude oil, naphtha is used to produce raw materials for petrochemical products such as plastic bags, food packaging and cosmetic containers. About 55 percent of Korea’s n

Mar 24, 2026By Park Jae-hyuk
Korea to curb naphtha exports this week
Companies

LG Energy Solution aims to lead battery market facing 'value shift'

LG Energy Solution (LGES) said Tuesday it has strengthened its competitiveness to stay resilient amid what CEO Kim Dong-myung called a “value shift,” as demand expands beyond electric vehicles (EVs) to sectors such as energy storage systems (ESS), robotics, aviation and aerospace. According to the battery maker, the company plans to significantly expand its ESS production capacity and order volume this year, respond more flexibly to EV customers’ needs and broaden its portfolio across robotics, maritime, urban air mobility and space industries. “Over the past five years, we have achieved rapid growth in the booming battery market, but we now face growing policy uncertainty and a major industrial transition worldwide,” an LGES official said. As an example of tangible progress, the company cited a supply deal last month with Hanwha Q Cells USA for 5 gigawatt-hours of ESS batteries. The battery firm also said its recent acquisition of Stellantis’ stake in their former Canadian joint venture, NextStar Energy, aims to strengthen its foothold in the North American market and accele

Mar 24, 2026
LG Energy Solution aims to lead battery market facing 'value shift'
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