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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's Sam Altman postpones visit to Korea due to daughter's birth: sources

OpenAI CEO Sam Altman's visit to Korea, originally scheduled for earlier this week, has been postponed due to the birth of his second daughter, sources here said Thursday. Altman had been set to arrive in Korea on Sunday for a two-day trip that included meetings with major technology companies, including Samsung Electronics, to discuss potential cooperation in artificial intelligence. During the visit, Altman was also expected to meet executives from portal operator Naver Corp. and mobile platform operator Kakao Corp. "The postponement appears to have been driven by family priorities rather than any business-related issues," an industry insider said on condition of anonymity. "In the United States, it is generally considered natural to adjust schedules for family events, such as the birth of a child." OpenAI previously said it hopes Altman will be able to visit Korea in the near future and meet local partners in person.

Jun 18, 2026By Yonhap
OpenAI's Sam Altman postpones visit to Korea due to daughter's birth: sources
Companies

Almonty confirms molybdenum reserves in Gangwon Province

Almonty Korea Tungsten Corp. (AKTC) is on a fast track to producing molybdenum — an important earth mineral — in Gangwon Province at a scale the company says could be sustained for more than 60 years. AKTC said on Thursday it has confirmed the volume and quality of a molybdenum reserve at the Sangdong mine in Yeongwol County that it now operates. The discovery, according to the company, was “similar to what we had seen through a past sampling process.” The latest update comes as AKTC has accomplished 37 percent of drilling inside the mine for the estimation of scale and quality of molybdenum ores. The company has so far drilled 26 locations and the bored tunnels now altogether extend to 12 kilometers in length. AKTC said it will begin producing the mineral as soon as the estimation process is complete. The company added that it plans to accelerate its molybdenum production schedule beyond earlier timelines. “The early results from this campaign are highly encouraging. With approximately 37 percent of the program complete, the grades we are encountering are consistent with our h

Jun 18, 2026By Ko Dong-hwan
Almonty confirms molybdenum reserves in Gangwon Province
Companies

American appetite for plant-based protein boosts Pulmuone Foods USA sales

Even as a sluggish retail environment weighs on American consumer spending, Pulmuone Foods USA, the domestic subsidiary of Korean food conglomerate Pulmuone, is finding a lucrative growth market in U.S. supermarkets. The company said Thursday that its U.S. tofu revenues rose 16.8 percent year-on-year through May, reaching 107.8 billion won ($71.3 million). The surge reflects a broader shift in American eating habits, as grocery shoppers increasingly pivot toward healthier, plant-based proteins to reduce meat consumption. The growth was led by Pulmuone’s Water Pack line — a firmer style of tofu packaged in water that accounts for roughly 70 percent of its total tofu revenues. Sales for the line jumped 24 percent to 79.9 billion won, a spike primarily driven by a major new retail account secured last fall. Meanwhile, high-protein varieties rose 13 percent, and processed, pre-seasoned options tailored to Western palates grew nine percent. To keep pace with demand, Pulmuone has aggressively expanded its manufacturing footprint. In March, the company completed a significant expansion of i

Jun 18, 2026By Jhoo Dong-chan
American appetite for plant-based protein boosts Pulmuone Foods USA sales
Companies

Hyundai Motor to build green hydrogen power system at Antarctic research station

Hyundai Motor Group said Thursday it will introduce a clean hydrogen energy circulation system at Korea's Antarctic research station to support sustainable scientific operations. The initiative is part of a memorandum of understanding signed with the Ministry of Oceans and Fisheries and the Korea Polar Research Institute, aimed at reducing the facility's reliance on diesel-generated electricity. The green hydrogen grid is a renewable energy-based power system that produces hydrogen through water electrolysis using electricity generated from renewable sources, such as solar power. Because Antarctic research stations are not connected to external power grids, they have traditionally relied on diesel generators, which are relatively easy to transport and fuel, and can be used to ensure a stable energy supply for long periods. Under the agreement, Hyundai Motor Group will develop an Antarctic-specific green hydrogen grid that uses surplus solar energy to produce and store hydrogen. The stored hydrogen will then be converted back into electricity through fuel cells during periods when solar p

Jun 18, 2026By Yonhap
Hyundai Motor to build green hydrogen power system at Antarctic research station
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

Jun 18, 2026By Lee Min-hyung
Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids
Banking & Finance

AI-generated complaints create new headaches for insurers

A recent customer complaint filed with one of the top three life insurers in Korea appeared convincing at first glance. It cited what seemed to be relevant laws and argued that the company had misinterpreted them. There was one problem: The law did not exist. "Sometimes customers cite statutes that simply aren't real," a company official said. "Other times the law itself exists, but the interpretation is completely off. We're seeing more grievances that sound plausible on the surface but don't hold up under scrutiny." At another big-name non-life insurance firm, claims handlers encountered a different telltale sign of artificial intelligence (AI). One submission still contained the asterisks that ChatGPT typically uses for emphasis. "People can put a few details into ChatGPT and ask it to draft a complaint for them. We are definitely seeing cases like that," an official at the insurance firm said. These episodes illustrate a growing challenge for the country's insurance sector as more consumers turn to generative AI tools to draft complaints and appeals. While chatbots can help explain com

Jun 18, 2026By Park Han-sol
AI-generated complaints create new headaches for insurers
Tech & Science

SK hynix ships 12-high HBM4E samples to customers

SK hynix said Thursday it has shipped samples of high-bandwidth memory 4E (HBM4E) for next-generation artificial intelligence (AI) processors to major customers. The company said it delivered 12-high HBM4E samples on schedule, and will work closely with partners for mass production “in a timely manner.” HBM4E is the seventh generation of HBM, a high-performance DRAM designed for rapid data processing and used in graphics processing units (GPUs) and other AI accelerators that require massive computing power. The previous version, HBM4, is set to be used for Nvidia’s Vera Rubin AI supercomputer, which will be released in the third quarter. HBM4E is also expected to be used for Vera Rubin Ultra platform next year. SK hynix said the 12-high HBM4E delivers improvements in both performance and power efficiency. The product offers a maximum data transfer speed of 16 gigabits per second (Gbps) per pin and more than 20 percent higher power efficiency compared to previous models. The HBM4E reduces data transfer latency through its latest interface and design optimization while maintaining sta

Jun 18, 2026By Nam Hyun-woo
SK hynix ships 12-high HBM4E samples to customers
Tech & Science

Anthropic opens Seoul office to expand ties with Korean AI ecosystem

U.S. artificial intelligence (AI) firm Anthropic opened its Seoul office on Wednesday, as the operator of Claude seeks to expand its ties with Korea’s AI ecosystem. “Korean companies and institutions recognize innovation and safety as goals that must go hand in hand, not a contradicting value,” Anthropic Korea Representative Director Choi Ki-young said during a press conference. “Various organizations in the country are using Claude to create positive changes in the lives of millions of people around the world, and the opening of the Seoul office reflects our commitment to build a long-term foundation for collaboration with those leading Korea’s AI ecosystem.” Choi, who joined Anthropic two weeks ago, is a seasoned expert in Korea’s digital infrastructure industry, having served in leadership roles at Google Cloud, Microsoft Korea, Adobe and Snowflake. Anthropic International Managing Director Chris Ciauri said Anthropic believes its ultimate responsibility is AI safety, aligning the company with the Korean government and its AI Framework Act, a law designed to address risk

Jun 18, 2026By Nam Hyun-woo
Anthropic opens Seoul office to expand ties with Korean AI ecosystem
Companies

'Wide Cup' fuels World Cup fever among Korean fans

Major liquor company Oriental Brewery (OB) is ramping up fan engagement for this year’s FIFA World Cup with the launch of “Wide Cup,” a new football-themed promotional campaign. The event follows Cass becoming the only Korean alcoholic beverage brand selected as an official sponsor of the tournament. Cass has served as an official sponsor of the FIFA World Cup since 2014, giving the brand a long-standing association with the world's biggest football event. Wide Cup participants compete to see how wide they can open their mouths while cheering for the Korean national football team during group-stage matches. The event takes place at designated restaurants and pubs in Seoul that serve Cass, where fans gather to watch the match together. The top six participants from each match are selected through artificial intelligence-based technology that automatically measures how wide their mouths are open based on photos taken at the venue. Winners receive cans of nonalcoholic Cass Zero equivalent to their measured mouth opening in millimeters. The first Wide Cup was held Friday during Korea's

Jun 17, 2026By Ko Dong-hwan
'Wide Cup' fuels World Cup fever among Korean fans
Companies

Hanwha Ocean faces mounting costs from blocked icebreaker delivery to Russia

Hanwha Ocean is saddled with hundreds of millions of dollars in financial burden, as a fleet of six icebreaking liquefied natural gas (LNG) carriers remain undelivered at a domestic shipyard due to sanctions on Russia’s Arctic project, according to industry sources and a report. The specialized vessels, built for Moscow’s high-stakes Arctic energy expansion venture, have turned into a costly asset for Hanwha Ocean, leaving the Korean shipbuilder with few viable options beyond waiting indefinitely for new buyers or selling the ships at steep discounts. The company secured a massive order to construct six highly sophisticated Arc7-class LNG carriers for the Arctic LNG 2 project pushed by Russian gas producer Novatek. Under the project, Hanwha Ocean was supposed to deliver three of the vessels for Sovcomflot, the largest shipping firm in Russia, and three for Japan’s Mitsui O.S.K. Lines. All were scheduled for delivery by the end of July 2023 for the Arctic project, according to a report by the Oxford Institute for Energy Studies. However, Russia’s invasion of Ukraine and subsequent

Jun 17, 2026By Lee Min-hyung
Hanwha Ocean faces mounting costs from blocked icebreaker delivery to Russia
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