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    Carmakers intensify rivalry in SDVs

    Global automakers are shifting the competitive battleground in Korea from traditional hardware to software-defined vehicles (SDVs), as cutting-edge operating systems and in-vehicle artificial intelligence (AI) functions emerge as key differentiators in an era of connected cars. The trend is visible, as a wave of new models launched this year are positioning advanced software capabilities as their definitive selling points. They include Hyundai Motor’s Grandeur, BMW Korea’s iX3, Toyota Motor Korea’s RAV4 and Zeekr’s 7X. Toyota is the latest carmaker to join the SDV competition. Last week, the Japanese carmaker launched its six-generation RAV4 flagship SUV built on its foundational SDV platform, Arene. Of particular note is that Toyota collaborated with LG Uplus to integrate tailored connected-car services to adapt the vehicle for the tech-savvy Korean market. The telecom operator also identifies the automotive infotainment as its next key growth driver. European and Chinese competitors are also raising the stakes with high-performance computing hardware. BMW Korea’s recently laun

    2 MIN READBy Lee Min-hyung
    Carmakers intensify rivalry in SDVs
  • Companies

    Inside the net-zero push uniting Korea's tire and auto parts giants

    2 MIN READBy Lee Kyung-min
    Inside the net-zero push uniting Korea's tire and auto parts giants
  • Companies

    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years

    2 MIN READBy Ko Dong-hwan
    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years
  • Companies

    SK hynix beats Samsung Electronics in market cap

    1 MIN READBy Yonhap
    SK hynix beats Samsung Electronics in market cap
  • Companies

    Why foreign shoppers are flocking to this Seoul lifestyle store

    2 MIN READBy Lee Kyung-min
    Why foreign shoppers are flocking to this Seoul lifestyle store
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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

Korean Air expands Japan routes, eyes regional cities

Korean Air is stepping up its expansion of Japan-bound routes, aiming to capture an increase in demand and reinforce its profitability in a key market. While increasing capacity on major routes, the airline is placing particular emphasis on expanding services to smaller regional cities in Japan, where competition remains limited. Starting March 29, Korean Air will increase flights on the Incheon–Aomori route to five round-trips per week from three, operating daily except Tuesdays and Saturdays. It will be the first time since the route’s launch in 1995 that flights have been offered at this frequency. The route will also see an aircraft upgrade to a mid-size jet with 182 seats, replacing the previous 158-seat plane to increase passenger capacity. The expansion follows strong demand on the Aomori route. Korean Air exclusively operates the Aomori route, allowing it to maintain stable fares without the discount-price pressure seen on major routes such as Tokyo, Osaka and Fukuoka. The Aomori route recorded an average seat occupancy rate of 82.6 percent last year, placing it among Korean A

Feb 4, 2026By Lee Gyu-lee
Korean Air expands Japan routes, eyes regional cities
Companies

Hyundai Steel begins mass production of low-emission steel sheets

Hyundai Steel has begun mass production of low-emission steel sheets that cut carbon emissions by more than 20 percent compared with products made solely through conventional blast furnace processes, as the company steps up efforts to meet tightening environmental regulations. According to the steelmaker Wednesday, it has successfully commercialized the world’s first hybrid process that combines molten iron produced by an electric arc furnace (EAF) with that from a blast furnace, leveraging its accumulated expertise in both technologies. Hyundai Steel has been conducting stability and quality verification tests at its steel mill in Dangjin, South Chungcheong Province, since April 2023 ahead of operating the hybrid EAF-blast furnace process and entered full-scale mass production this month. The company has completed grade certification for 25 steel products manufactured using the new process, including two types of low-emission steel sheets that recently entered mass production. It plans to secure certification for an additional 28 products within the year, expanding the total to 53 ce

Feb 4, 2026By Park Jae-hyuk
Hyundai Steel begins mass production of low-emission steel sheets
Companies

HD Hyundai impresses Canada's defense delegation in Korea's sub bid

Canada's defense delegation got a firsthand look at HD Hyundai's naval ship technologies, which the top delegate described as "amazing," during their visit to the company's headquarters, Wednesday. The delegation's visit was made ahead of Ottawa's upcoming decision on a contractor to supply next-generation patrol submarines for the Royal Canadian Navy. A Korean consortium led by Hanwha Ocean and HD Hyundai Heavy Industries (HHI) was shortlisted as a final contender for the bid. The company said that Park Yong-yeol, head of HD HHI's Naval Ship Business Unit, welcomed the delegation including Stephen Fuhr, Canada's secretary of state for defense procurement, at the company headquarters in Seongnam, Gyeonggi Province. He introduced the shipbuilder's destroyers, frigates, submarines and unmanned surface vessels, as well as its artificial intelligence-powered autonomous navigation technology. According to HD Hyundai, Fuhr showed a keen interest in the Korean firm's naval ship technologies and potential partnership for the submarine project, saying, "Amazing — I literally feel like I'm in t

Feb 4, 2026By Park Jae-hyuk
HD Hyundai impresses Canada's defense delegation in Korea's sub bid
Companies

Samsung Heavy partners with Qatar's QSTS for ship conversion cooperation

Samsung Heavy Industries said Wednesday it has partnered with a Qatari shipyard to cooperate on ship conversion and aftermarket services as part of its global expansion strategy. Under a memorandum of understanding (MOU) signed on the sidelines of the international trade fair LNG 2026 in Doha, Qatar, Samsung Heavy and Qatar Shipyard Technology Solutions (QSTS) agreed to expand cooperation in ship conversion and aftermarket services, according to the Korean shipbuilder. QSTS, a subsidiary of Qatar's state-run shipping company Nakilat, is one of the leading shipyards in the Middle Eastern country, providing ship repair and maintenance services. The two companies plan to further collaborate on conversion projects involving eco-friendly facilities, including decarbonization solutions, energy efficiency improvements and onboard carbon capture equipment, as well as digital technologies. They also intend to explore cooperation in small marine projects and special purpose vessels. Samsung Heavy said the partnership with QSTS is expected to help the company respond more actively to business opport

Feb 4, 2026By Yonhap
Samsung Heavy partners with Qatar's QSTS for ship conversion cooperation
Tech & Science

Samsung Biologics signs vaccine partnership with CEPI

Samsung Biologics, the biotech arm of Korea's Samsung Group, said Wednesday it will collaborate with the Coalition for Epidemic Preparedness Innovations (CEPI) to jointly respond to future pandemic outbreaks. The company said it has signed a Vaccine Manufacturing Facility Network (VMFN) partnership with CEPI to ensure the rapid supply of vaccines in the event of a global pandemic. By joining CEPI's global VMFN, Samsung Biologics will provide CEPI with guaranteed access to up to 50 million vaccine doses, along with an additional one billion doses of drug substance ready for conversion into finished vaccine products, the company said in a press release. "By working with CEPI to advance vaccine development and ensure capacity for timely production when demand rises, we aim to broaden access to high-quality vaccines for patients around the world. We will continue to apply our technical and manufacturing expertise to strengthen global preparedness," said John Rim, president and chief executive officer (CEO) of Samsung Biologics. CEPI CEO Richard Hatchett said partnering with one of the world'

Feb 4, 2026By Yonhap
Samsung Biologics signs vaccine partnership with CEPI
Companies

Korean Air launches AI chatbot service in 13 languages

Korean Air, Korea's flag air carrier, said Wednesday it has launched an artificial intelligence (AI) chatbot service to provide enhanced customer support using generative AI technology in 13 languages. The Korean Air AI Chatbot, trained on extensive datasets, including airline regulations and operational policies, analyzes customer intent in real time and understands complex queries — such as baggage allowance rules — to deliver more accurate and relevant responses, according to Korean Air. The chatbot provides answers with source citations and direct links to related pages to enhance transparency and reliability. It also incorporates a specialized database designed to minimize AI errors and hallucinations, the company said. The service is available on Korean Air's official website and mobile app, supporting 13 languages, including Korean, English, Japanese, French, Russian and German. Korean Air said it plans to expand the AI chatbot's functions to include ticket purchases and reservation management.

Feb 4, 2026By Yonhap
Korean Air launches AI chatbot service in 13 languages
Banking & Finance

KakaoBank reports record earnings in 2025 on non-interest income

Leading online lender KakaoBank said Wednesday it posted record earnings last year, driven by increased non-interest income. Net profit rose 9.1 percent from a year earlier to a record high of 480 billion won ($331 million) in 2025, the company said in a regulatory filing. Its operating profit climbed 7 percent on-year to 649 billion won over the cited period. Sales increased 4.78 percent to 3.09 trillion won. The company attributed its stellar earnings to a rise in non-interest income. Its interest income fell 2.9 percent on-year to 1.99 trillion won last year, while non-interest income surged 22.4 percent to 1.09 trillion won over the cited period. During the fourth quarter of last year, its net profit also reached a record high of 105 billion won, up 24.5 percent from a year earlier. As of end-December, the number of the bank's customers stood at 26.7 million, with its monthly active users reaching 20 million.

Feb 4, 2026By Yonhap
KakaoBank reports record earnings in 2025 on non-interest income
Companies

Korean oil refiners expect benefits from US control of Venezuela

U.S. President Donald Trump’s recent control of Venezuela’s oil revenues after the capture of the South American country's President Nicolas Maduro has turned out to be a boon for Korea’s oil refining industry, rather than a risk to the sector. As it has become virtually impossible for Chinese companies to secure low-cost crude from Venezuela, refiners here expect the oversupply to ease. “Once Venezuelan crude is shipped to the United States instead of China and Iran’s crude exports decline, Chinese firms will struggle to source cheap oil,” an S-Oil official said during a recent earnings conference call for last year’s fourth quarter. “That will lower Chinese refiners’ capacity utilization, which will have a positive impact on refining margins across Asia.” According to industry officials, small Chinese refiners have been importing large amounts of Venezuelan oil through so-called “shadow fleets,” informal tanker fleets that evade international sanctions by turning off tracking systems, changing ship names, transferring oil between vessels at sea and switching na

Feb 4, 2026By Park Jae-hyuk
Korean oil refiners expect benefits from US control of Venezuela
Companies

TEST DRIVE Peugeot aims for major turnaround with 5008 hybrid SUV

GIMPO, Gyeonggi Province — The third-generation Peugeot 5008 family SUV has made a striking return with a lively yet composed driving feature that sets the vehicle apart from its rivals. After a decade, the vehicle has undergone a complete overhaul. Stellantis Korea hopes to jump on the booming SUV bandwagon by making the three-row family car its most strategic lineup this year. Peugeot has balanced the essentials of a large family SUV — flexible seating, usability and reasonable fuel efficiency — with a sense of refinement and unique driving dynamics. When the vehicle was taken for a round-trip drive between Gimpo and Incheon, with a distance of some 60 kilometers, the 5008 SUV dispelled the perception that a vehicle of this size would be relatively weak in responsiveness, compared to smaller, more typical sedans. However, the vehicle constantly delivered a breezy driving feel, powered largely by its well-balanced hybrid system. The 5008 SUV is equipped with a 1.2-liter PureTech gasoline engine with a 48-volt hybrid system. This setup allows the SUV to operate in electric-only mode

Feb 4, 2026By Lee Min-hyung
[TEST DRIVE] Peugeot aims for major turnaround with 5008 hybrid SUV
Companies

Hanwha Aerospace proposes ground defense solutions to Canadian minister

Hanwha Aerospace, a Korean defense company, proposed an integrated ground defense solution to Canada's defense procurement minister during his visit to the company's production facilities on Tuesday, the company said. Stephen Fuhr, Canada's secretary of state for defense procurement, visited Hanwha Aerospace's plants in Changwon, South Gyeongsang Province, following a visit to Hanwha Ocean's shipyard in Geoje, South Gyeongsang Province, the previous day. The visit was aimed at assessing Korea's defense industry capabilities ahead of Canada's large-scale military modernization program known as the indirect fire modernization (IFM) initiative, the company said. Canada plans to deploy about 250 infantry fighting vehicles in its army by 2030, six years earlier than originally scheduled. The Canadian delegation, consisting of about 30 members led by Fuhr, toured production lines for the K9 self-propelled howitzers and the Chunmoo multiple rocket launcher system (MRLS), and observed live mobility demonstrations of the K9, the Redback armored fighting vehicle and the K21 infantry fighting vehic

Feb 3, 2026By Yonhap
Hanwha Aerospace proposes ground defense solutions to Canadian minister
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