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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
  • Companies

    Hope grows for Korean firms to join supply chains of Elon Musk empire

    2 MIN READBy Nam Hyun-woo
    Hope grows for Korean firms to join supply chains of Elon Musk empire
  • Companies

    Korean Air says Asiana integration costs could reach W1 tril., offset by 2028

    1 MIN READBy Yonhap
    Korean Air says Asiana integration costs could reach W1 tril., offset by 2028
  • 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
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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

Hyundai Motor ranks 2nd in operating profit among global automotive peers in 2025

Hyundai Motor Group, the world's third-largest automaker by sales, ranked second among global automotive groups in terms of operating profit in 2025, industry data showed Wednesday. According to an analysis of earnings data released by the groups, the Korean group, which houses Hyundai Motor and Kia, ranked second in terms of operating profit last year, which stood at 20.5 trillion won ($13.9 billion), trailing Toyota Group, which reported an operating profit of 4.3 trillion yen, or 40.2 trillion won, last year. The two Asian auto giants secured the top two positions by mitigating the impact of U.S. import tariffs through adjustments to inventory and production, according to industry watchers. General Motors (GM) ranked third, with $12.7 billion, or roughly 18.7 trillion won, followed by Volkswagen Group, with 8.9 billon euros, or roughly 15.3 trillion won. Hyundai Motor Group also ranked second in operating profit margin, at 6.8 percent, trailing Toyota Group's 8.6 percent. In vehicle sales, Hyundai Motor Group remained the world's third-largest automaker, with 7.27 million vehicles sold

Mar 11, 2026By Yonhap
Hyundai Motor ranks 2nd in operating profit among global automotive peers in 2025
Companies

SK chairman urges Korea to redesign growth model to reduce social costs

SK Group Chairman Chey Tae-won urged Korea to redesign its growth model so the country can achieve economic growth and reduce social costs simultaneously. During a panel discussion with Minister of the Interior and Safety Yun Ho-jung at a forum held by the Center for Social Value Enhancement Studies (CSES) on Tuesday, Chey noted that economic growth itself could be constrained if social problems are not addressed. “The conventional way of measuring economic growth through rising gross domestic product (GDP) cannot address various social problems including polarization,” Chey said. “The future growth model should be redesigned to achieve economic growth while simultaneously reducing social costs.” Chey said establishing a system to measure social value and providing appropriate incentives are key tasks in this endeavor. He noted that the SK Group has been quantifying the scale of corporate social value creation and reflecting it in management, adding that if activities addressing social problems are measured in quantitative terms and rewarded with incentives, companies’ particip

Mar 11, 2026By Nam Hyun-woo
SK chairman urges Korea to redesign growth model to reduce social costs
Tech & Science

Samsung launches Galaxy S26 series worldwide following record preorders

Samsung Electronics said Wednesday it has officially launched the global sales of its Galaxy S26 smartphones after posting record-breaking preorders for the company's flagship S lineup. The Korean tech giant said the products will be officially available in Korea, the United States, Britain and India, eventually reaching 120 countries around the globe. Last week, Samsung Electronics said preorders for its Galaxy S26 series smartphones in Korea reached 1.35 million, setting a new record for the flagship S series. The premium Galaxy S26 Ultra accounted for more than 70 percent of preorders worldwide, it added. The flagship series comes in three models: the Galaxy S26, the Galaxy S26+ and the Galaxy S26 Ultra. The Galaxy S26 Ultra features the industry's first built-in privacy display, which allows users to protect content on their screen without having to apply a separate film. "Designed for everyday situations, hardware and software are working as one to protect privacy without compromising everyday viewing experiences," Samsung said in a release. The tech giant added that users can enhance

Mar 11, 2026By Yonhap
Samsung launches Galaxy S26 series worldwide following record preorders
Companies

Samsung Electronics spent $25.6 bil. on R&D in 2025

Samsung Electronics said Tuesday it spent a record 37.7 trillion won ($25.6 billion) on research and development (R&D) in 2025 as part of its push to gain an early lead in the global race for next-generation artificial intelligence (AI) chips. The amount represented a 7.8 percent increase from the previous year's 35 trillion won, the company said in an annual business report. Samsung Electronics said the massive investment was part of the company's strategy to preemptively cope with booming demand for AI semiconductors, including high-bandwidth memory (HBM) and high-capacity DDR5 chips. At the same time, the company funneled 52.7 trillion won into facility investment last year, 5 trillion won more than its earlier investment plan. The money was used to build future-generation semiconductor facilities, including the NRD-K complex, a semiconductor R&D hub at its Giheung campus in Yongin, Gyeonggi province. Samsung Electronics said it plans to make continued efforts to meet customer demand for sixth-generation HBM4 chips in 2026. The company said it shipped its first batch of mass-produced H

Mar 10, 2026By Yonhap
Samsung Electronics spent $25.6 bil. on R&D in 2025
Companies

JTI Korea rebrands Ploom tobacco sticks as ‘EVO’

JTI Korea’s heated tobacco device Ploom has transitioned its dedicated stick brand from “MEVIUS for Ploom” to “EVO,” effective Tuesday. The name EVO, short for “evolution,” reflects the brand’s goal of being modern and constantly evolving, a JTI Korea official said. Developed for use with the Ploom device, the sticks are designed to deliver an authentic tobacco taste while improving quality, flavor and user experience. EVO uses CleanSeal technology, which seals the bottom of the stick during manufacturing. The process helps prevent tobacco leaf residue from falling into the device, providing a cleaner heated-tobacco experience. JTI Korea also applied its proprietary ActivBlend technology, which is designed to produce a richer tobacco flavor when used with Ploom’s Heatflow technology. The new EVO lineup includes eight variants, mostly based on the existing MEVIUS for Ploom portfolio while keeping each product’s distinct flavor. EVO Amber, which has a rich, smooth taste, replaces MEVIUS Deep Regular. Cooling variants — EVO Arctic, EVO Green Option and EVO Jade — corr

Mar 10, 2026By Ko Dong-hwan
JTI Korea rebrands Ploom tobacco sticks as ‘EVO’
Tech & Science

LG CNS invests in US robotics firm to accelerate physical AI push

LG CNS has made a strategic investment in U.S. robotics company Dexmate to strengthen its hardware capabilities for industrial humanoid robots. The company announced on Tuesday that it became the first Korean firm to invest in the U.S. company, using LG Group’s corporate venture capital arm LG Technology Ventures. Based in Silicon Valley, Dexmate builds high-performance humanoid robots that have been recognized as standard research hardware by global artificial intelligence (AI) developers. Its robots are designed for human-like motion. Each robot features a wheeled lower body, dual arms for high-speed operations and a vision-sensor head designed to perceive its surroundings. With over 36 independent axes of motion, the robots can perform precise two-arm cooperative tasks, carry up to 15 kilograms per arm and operate for over 20 hours on a single charge. “This investment is LG CNS’ strategic step to tightly integrate robotic hardware, robotics foundation model (RFM) and platforms to enable large-scale robot operations and accelerate adoption across industrial sites,” Lee Jun-ho,

Mar 10, 2026By Lee Gyu-lee
LG CNS invests in US robotics firm to accelerate physical AI push
Companies

Aluminum, helium supply shortage weighs on Korean electronics industry

The protracted war in the Middle East is causing supply disruptions and pushing up prices of critical raw materials such as aluminum and helium, weighing on Korean manufacturers of electronic home appliances and semiconductors. According to the London Metal Exchange, aluminum was traded at $3,406.50 per ton in cash settlement as of Monday, up about 8 percent from $3,157.50 on Feb. 27, a day before the United States and Israel launched strikes on Iran. The price hike came amid growing concerns over supply disruptions following Iran’s repeated threats to close the Strait of Hormuz after the U.S.-Israel airstrikes. The strait is a key shipping route for oil and other major commodities, including aluminum. Aluminum produced in the Middle East accounts for about 9 percent of global production, but the share rises to around 22 percent when China, which accounts for nearly 60 percent of the global output, is excluded. Because most of the region’s aluminum is exported, and a large portion is shipped to Europe and the U.S., disruptions there can have a significant impact on global supply and

Mar 10, 2026By Nam Hyun-woo
Aluminum, helium supply shortage weighs on Korean electronics industry
Companies

Hyundai Mobis expands chassis module supply to Mercedes-Benz in Europe

Hyundai Mobis has begun supplying chassis modules for vehicles produced in Europe by Mercedes-Benz, expanding its partnership with the German carmaker beyond North America and strengthening its foothold in the European market, the Korean auto parts maker said Tuesday. The company recently completed building a new production facility in Kecskemet, Hungary. The plant is now fully operational and will produce chassis modules primarily for electric and hybrid vehicles manufactured by Mercedes-Benz in the region. Since 2022, Hyundai Mobis has been supplying chassis modules — including complete front and rear axle assemblies — to Mercedes-Benz through its plant in the U.S. state of Alabama. The new Hungarian facility marks an expansion of that supply relationship into Europe. A chassis module is a key component installed beneath a vehicle’s body, which houses steering, braking and suspension systems, as well as the integrated assemblies that mount these systems to the vehicle frame. Located near the customer’s manufacturing site, the Kecskemet plant covers about 50,000 square meters an

Mar 10, 2026By Lee Min-hyung
Hyundai Mobis expands chassis module supply to Mercedes-Benz in Europe
Companies

ISS recommends opposing Korea Zinc chairman's reappointment

The world’s largest proxy advisory firm, the Institutional Shareholder Services (ISS), has advised shareholders to oppose the reappointment of Korea Zinc Chairman Choi Yun-beom as an inside director ahead of the zinc smelter’s annual shareholders’ meeting scheduled for March 24. According to the ISS’ proxy analysis report issued Monday, the upcoming meeting should be viewed not simply as a contest over management control but as a broader attempt to address “repeated distortions in corporate governance and failures of oversight.” While acknowledging that Korea Zinc has improved operating results and share price appreciation in recent years, the ISS stressed that the key issue confronting the company is governance rather than financial performance. The advisory firm pointed to several developments as sources of concern surrounding Korea Zinc under the current leadership, including its attempt to pursue a discounted capital increase after conducting share buybacks at elevated prices. The ISS also cited controversy over the restriction of Young Poong’s voting rights through cro

Mar 10, 2026By Jun Ji-hye
ISS recommends opposing Korea Zinc chairman's reappointment
Companies

Subcontracted workers target POSCO, Hyundai Mobis, Hanwha Ocean

POSCO, Hyundai Mobis and Hanwha Ocean became the main targets of unionized subcontracted workers on Tuesday, as a pro-labor revision to the Trade Union and Labor Relations Adjustment Act — better known as the “yellow envelope law” — took effect after a six-month grace period. The subcontracted workers asked the clients of their actual employers to join negotiations over wages and working conditions, citing the new law that justifies their demands. President Lee Jae Myung said the same day cooperation between large corporations and small and medium-sized enterprises under the new law should be seen as “an investment rather than charity” and even “a survival strategy.” POSCO faced protests from subcontracted workers at its steel plants in Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province, for repeatedly refusing to negotiate even after the Supreme Court ruled that the company’s use of outsourced labor was illegal. Calling for direct employment of workers responsible for regular tasks, the subcontracted workers urged the company to accept their reques

Mar 10, 2026By Park Jae-hyuk
Subcontracted workers target POSCO, Hyundai Mobis, Hanwha Ocean
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