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    LG Electronics' Tennessee plant tops 10 mil. units in cumulative production

    LG Electronics’ Tennessee plant surpassed 10 million units in cumulative production, playing a pivotal role in helping the company secure the top spot in the U.S. laundry appliance market. The company said Sunday it held a ceremony to congratulate the production of the 10 millionth unit at the plant participated by local officials and LG Electronics executives. LG Electronics built its Tennessee plant on a 1.25 million-square-meter site in Clarksville, Tennessee in 2018. Since then, the company has invested approximately $500 million in expanding facilities and improving manufacturing processes. The plant began producing washing machines in November 2018, followed by dryers in 2022 and wash towers in 2023. Its annual production capacity now stands at 2.25 million units, more than four times its 2019 level, comprising 1.55 million washing machines and 700,000 dryers. The expansion has established the plant as LG Electronics’ key local manufacturing and supply hub. LG Electronics’ washing machines and dryers accounted for 17.2 percent and 17.4 percent of the U.S. market, respectively

    2 MIN READBy Nam Hyun-woo
    LG Electronics' Tennessee plant tops 10 mil. units in cumulative production
  • Companies

    SK chairman calls for AI expansion beyond chips into models, services

    2 MIN READBy Ko Dong-hwan
    SK chairman calls for AI expansion beyond chips into models, services
  • Business

    HD Hyundai launches autonomous vessel developed with Anduril

    1 MIN READBy Yonhap
    HD Hyundai launches autonomous vessel developed with Anduril
  • Companies

    Kia's domestic electrified vehicle sales top 300,000 units in 2026

    1 MIN READBy Yonhap
    Kia's domestic electrified vehicle sales top 300,000 units in 2026
  • Companies

    Audi Korea accelerates recovery on solid sales of redesigned A6

    2 MIN READBy Lee Min-hyung
    Audi Korea accelerates recovery on solid sales of redesigned A6
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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

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

OpenAI said Friday it has expanded its ChatGPT advertising pilot program to Korea, making it the sixth market to feature ads after the United States, United Kingdom, Canada, Australia and New Zealand. Ads will appear only for adult users on ChatGPT's free and Go tiers. Users on paid plans — Plus, Pro, Business, Enterprise and Edu — will not see advertisements. OpenAI said it is applying three core principles to the rollout: keeping ChatGPT's responses independent from advertiser influence, protecting user conversation data and personal information from advertisers and giving users control over their ad experience. Ads will be clearly labeled as "sponsored content" and kept visually separate from ChatGPT's generated responses. Advertisers will have access only to aggregated performance metrics such as impressions and clicks, and will not be able to view individual users' conversation history or personal data. Users can hide ads, submit feedback and manage ad personalization settings directly within the app. Ads will not be shown to accounts identified or predicted to belong to minors,

Jun 19, 2026By Jhoo Dong-chan
OpenAI brings ChatGPT ads to Korea, keeps paid plans ad-free
Companies

Cosmax Neo wins award for waste-reducing packaging design

Cosmax Neo, a functional cosmetics packaging subsidiary of the Cosmax Group, said Thursday it won a prize at the Korea Star Awards 2026, an annual national packaging competition organized by the Ministry of Trade, Industry and Resources. The company received the Korea Packaging Technologist Society President's Award for its Smudging Drop Bottle, a container that integrates dispensing and skin application functions into a single structure. When the cap is opened, a built-in applicator automatically rises. Pressing the curved top section releases a measured amount of product through an air-push mechanism, allowing users to apply contents directly to skin without touching the formula by hand. The curved dome design minimizes residue, addressing a common problem with conventional air-push containers that tend to leave excess product behind. The applicator material can be customized to client specifications, and the bottle is compatible with a range of product types including serums, essences and base makeup. The announcement also highlighted the continued international success of the Motion D

Jun 19, 2026By Jhoo Dong-chan
Cosmax Neo wins award for waste-reducing packaging design
Companies

Indonesian candy Kopiko steals scenes in K-dramas

Indonesian candy brand Kopiko is stealing scenes in Korean TV and online streaming series. For years, viewers have watched characters in shows popping the sweet into their mouths, with the label prominently displayed. It is not a coincidence: Macrocom, a Seoul-based importer, has paid for the candy's product placement in more than a dozen shows since 2021. It started with "Vincenzo" on tvN, continuing with "Castaway Diva" on the same network in 2023, "Connection" on SBS in 2024, and most recently, "Brave New World," which is currently airing on SBS and Netflix. Macrocom and the brand’s manufacturer PT Mayora Indah Tbk, a major consumer goods company in Indonesia, began targeting the Korean dramas as a way to promote Kopiko. Their strategy for TV producers to show characters eating them to relieve stress and remark on its deliciousness. Over the past four years of TV exposure, Kopiko has built up its brand recognition here, leading to a boost in sales. GS25, a major convenience store franchise brand, sold more than 200,000 packages in a month after it went on shelves in 2024 for 1,000

Jun 19, 2026By Ko Dong-hwan
Indonesian candy Kopiko steals scenes in K-dramas
Companies

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

Jun 19, 2026By Ko Dong-hwan
Public power generation firms' proposed merger sparks debate
Companies

AI race pushes LG CNS and Doosan into broad technology alliance

As companies scramble to secure an edge in artificial intelligence and automation, LG CNS and Doosan Corp. have agreed to join forces in a wide-ranging partnership that stretches from agentic AI and robotics to data centers and cloud computing. The companies signed a memorandum of understanding Thursday at LG Sciencepark in Seoul to strengthen their competitiveness in emerging technology businesses, including AI transformation, robot transformation, data centers and cloud services. The agreement brings together LG CNS’ digital transformation capabilities and Doosan Corp.’s industrial technology expertise at a time when businesses are investing heavily in AI-driven productivity and next-generation infrastructure. Under the deal, the companies said they will establish a joint business cooperation body within one month and develop detailed plans for collaborative projects. One of the central pillars of the partnership is AI transformation. LG CNS said it will leverage its enterprise agentic AI platform, AgenticWorks, to help strengthen Doosan Corp.’s agentic AI capabilities and develop

Jun 19, 2026By Lee Kyung-min
AI race pushes LG CNS and Doosan into broad technology alliance
Business

Global memory chip market to quadruple in 2026: data

The global memory chip market is expected to more than quadruple this year from a year earlier, driven by growing investment in artificial intelligence (AI) infrastructure, industry data showed Friday. The global memory market is projected to reach 1,500 trillion won ($975 billion) in 2026, up 4.2 times from 360 trillion won recorded last year, according to data from industry tracker Counterpoint Research. The sharp growth is attributed to surging demand for server memory products, including dynamic random-access memory (DRAM) and NAND flash memory, as tech companies, particularly in North America, ramp up investments in AI infrastructure. Server memory products are expected to account for 56 percent of total memory revenue this year, up from 37 percent in 2025, surpassing the halfway mark for the first time. Counterpoint Research said the structural shift toward server-oriented memory products has become a key driver of growth in the memory market. The research firm added that widening supply-demand imbalances stemming from strong server memory demand are pushing memory prices higher, wi

Jun 19, 2026By Yonhap
Global memory chip market to quadruple in 2026: data
Companies

BioTNS selected as host of gov't's ultra-precision digital PCR project

BioTNS, a Korean molecular diagnostics company, was selected as the host organization to spearhead a 30 billion won ($19.53 million) government program to set up technical standards for ultra-precision digital Polymerase Chain Reaction (dPCR) diagnostics, according to the company, Friday. With 15 institutions participating, the program is a seven-year initiative to secure global leadership in next-generation molecular diagnostics by establishing technical standards for dPCR. Through the program, the government seeks to overcome the core limitations of legacy molecular testing methods and build a critical infrastructure for ultra-precision medicine based on domestic technologies. Along with BioTNS, the consortium includes six companies, two state-backed research institutes and seven university hospitals. Participating companies include Gencurix, Hanil Scientific, JNP Medi and Omicsyn, while GC Labs will support clinical validation and commercialization. The National NanoFab Center and the Korea Research Institute of Bioscience and Biotechnology will provide technology support. Seven hosp

Jun 19, 2026By Nam Hyun-woo
BioTNS selected as host of gov't's ultra-precision digital PCR project
Companies

Hyundai Rotem secures $487.3 mil. railway maintenance project in Morocco

Hyundai Rotem said Friday it has secured a railway maintenance contract worth 748.2 billion won ($487.3 million) in Morocco, building on a major train supply deal previously signed with the North African country. The defense and railway equipment unit of Hyundai Motor Group signed the agreement with Morocco's national railway operator, ONCF, in the capital city of Rabat on Thursday (local time). The project covers the maintenance of all 440 train cars to be supplied by Hyundai Rotem and will be carried out over a 20-year period through a joint venture established by the company and ONCF. The deal follows Hyundai Rotem's 2.23 trillion-won contract secured in February last year to supply double-decker electric trains to Morocco. The trains are expected to operate on routes connecting major cities centered around Casablanca as the country prepares to co-host the 2030 FIFA World Cup.

Jun 19, 2026By Yonhap
Hyundai Rotem secures $487.3 mil. railway maintenance project in Morocco
Companies

Doosan on track for growth as portfolio aligns with AI industry

Doosan Group is expected to post strong growth as its key businesses are increasingly aligned with the core supply chain of the artificial intelligence (AI) industry. According to market tracker FnGuide, the consensus estimate among brokerages for Doosan Corp.'s second-quarter earnings is 5.5 trillion won ($3.62 billion) in sales and 465 billion won in operating profit, up 3 percent and 30 percent year-on-year, respectively. Doosan Corp. is the holding company of the conglomerate but is gaining market attention with its own electromaterials business, which supplies copper clad laminates (CCL) to chipmakers. CCL is a key material used in advanced chip substrates and printed circuit boards found in virtually all electronic devices. As AI servers and high-performance computing systems require fast processing of massive amounts of data, demand is growing for high-frequency, low-loss CCLs. In the first quarter of this year, the business group’s sales reached 617.3 billion won, growing 53.2 percent year-on-year to set a new record. Operating profit soared 59.9 percent year-on-year to stand a

Jun 19, 2026By Nam Hyun-woo
Doosan on track for growth as portfolio aligns with AI industry
Banking & Finance

Card issuers turn to small-business lending as consumer loan curbs squeeze growth

As Korea’s financial authorities continue tightening their grip on household debt, card issuers are looking beyond personal card loans for growth, with many expanding into lending for sole proprietors and small-business owners, according to industry officials Thursday. In recent years, card companies have relied on card loans to offset slowing growth in their transaction fee incomes. Carrying higher interest rates than bank loans but requiring no collateral, these have become a popular source of quick funding for borrowers with limited access to mainstream credit. That appeal has also made them a target of regulators. Authorities regard card loans as a significant contributor to household leverage and have sought to restrain their growth as part of a broader campaign to curb debt accumulation and cool speculative demand in the property market. Pressure on the sector intensified this week after several major card issuers exceeded regulatory targets for outstanding card loan balances. The Financial Supervisory Service summoned the companies on Monday and urged them to strengthen interna

Jun 19, 2026By Park Han-sol
Card issuers turn to small-business lending as consumer loan curbs squeeze growth
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