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    Busan Mobility Show seeks breakthrough as popularity fades

    The 2026 Busan International Mobility Show opens Friday amid a deepening identity crisis, as experts and industry officials warn that the biennial auto exhibition risks becoming an expensive, fragmented marketing showcase for only a handful of carmakers. While eight global brands including Hyundai Motor, Kia, BMW Korea and BYD Korea will occupy the exhibition floors, the glaring absence of major players such as Mercedes-Benz Korea, Renault Korea and KG Mobility, highlights the event's declining appeal. The limited lineup for the show reflects a broader challenge facing auto shows worldwide, as manufacturers increasingly favor digital product launches and dedicated brand events over large-scale exhibitions. Industry experts have repeatedly warned that without a radical pivot toward a specialized, tech-driven identity such as a focus on artificial intelligence (AI) or software-defined vehicles (SDVs), the Busan event faces the same obsolescence that has recently claimed legacy exhibitions abroad. Despite such recommendations, this year's Busan International Mobility Show is expected to lar

    4 MIN READBy Lee Min-hyung
    Busan Mobility Show seeks breakthrough as popularity fades
  • Companies

    NC AI debuts next-gen 3D model with top benchmark scores

    2 MIN READBy Jhoo Dong-chan
    NC AI debuts next-gen 3D model with top benchmark scores
  • Companies

    Everland releases first photos of 3-week-old giant panda cub

    2 MIN READBy Jhoo Dong-chan
    Everland releases first photos of 3-week-old giant panda cub
  • Companies

    Stray Kids' Felix named global ambassador for Korean fried chicken campaign

    1 MIN READBy Hankookilbo
    Stray Kids' Felix named global ambassador for Korean fried chicken campaign
  • Banking & Finance

    Rising leveraged investments pose threats to financial stability: BOK

    2 MIN READBy Yonhap
    Rising leveraged investments pose threats to financial stability: BOK
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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

Cyberattack at Kyowon exposes over 9 mil. user accounts to possible breach: sources

Korean cybersecurity authorities estimate that around 9.6 million accounts may have been affected by a recent cyberattack at Kyowon Group, a local education service provider, informed sources said Wednesday. The estimate by a government investigation team that includes the Korea Internet & Security Agency comes after Kyowon Group reported a possible breach on Monday, saying it had detected traces of a ransomware attack. Kyowon said it became aware of abnormal activities in its internal system Saturday and later identified a possible data breach. The authorities estimate that 600 of the company's 800 servers fall within the scope of the breach. The investigation team estimates Kyowon Group's eight affiliates held 13 million members in total, a figure that narrows to 5.54 million after removing overlaps. The 9.6-million estimate counts users holding more than one account. As Kyowon Group operates a wide range of businesses, including tutoring, home appliance rentals and funeral services, experts said the number of victims could be substantial. Kyowon Group has yet to confirm whether its memb

Jan 14, 2026By Yonhap
Cyberattack at Kyowon exposes over 9 mil. user accounts to possible breach: sources
Business

Biz circles of Korea, Japan call for stronger industrial cooperation in AI era

Major business associations in Korea and Japan released Wednesday a joint statement calling for stronger industrial cooperation between the two countries in the era of artificial intelligence (AI). The Joint Proposal for AI Era Cooperation between Korea and Japan was issued by the Korea International Trade Association (KITA) and Japan Association of Corporate Executives, or Keizai Doyukai. The proposal reflects the results of four rounds of bilateral economic roundtables held over the past two years, according to KITA. The proposal was also made as Korean President Lee Jae Myung was visiting Japan for summit talks with Japanese Prime Minister Sanae Takaichi, where the two leaders agreed to launch working-level consultations on AI and intellectual property rights. In the joint proposal, KITA and Keizai Doyukai welcomed the two governments' commitment to strengthening future-oriented cooperation amid global uncertainties stemming from supply chain instability and geopolitical risks. They proposed three objectives for industrial cooperation between Seoul and Japan: development of autonomous

Jan 14, 2026By Yonhap
Biz circles of Korea, Japan call for stronger industrial cooperation in AI era
Companies

Korean chipmakers face lawsuit strain from US 'patent trolls'

Patent claims filed by Non-Practicing Entities (NPEs) in the United States are emerging as a risk for Korean chipmakers, as Washington is increasingly leaning in favor of patent holders, forcing companies to incur greater legal costs by defending themselves against so-called “patent trolls.” The U.S. Patent Trial and Appeal Board (PTAB) on Friday (local time) rejected two petitions filed by SK hynix in August 2025 seeking to invalidate patents held by Advanced Memory Technologies, an NPE which has been staging patent battles against a series of Korean IT companies. PTAB has put SK hynix’s two petitions, known as inter partes reviews (IPRs), into “Not Instituted” status, meaning the challenges were rejected without a review process. The board had rejected three other SK hynix IPRs in December. Advanced Memory Technologies filed a patent infringement suit with the U.S. District Court for the Eastern District of Texas in December 2024, claiming that SK hynix had infringed on five of its patents for dynamic random access memory and flash memory technologies. IPR was introduced in 2

Jan 14, 2026By Nam Hyun-woo
Korean chipmakers face lawsuit strain from US 'patent trolls'
Companies

US lawmaker accuses Korean regulators of 'discriminatory' actions against Coupang

WASHINGTON — A U.S. lawmaker claimed Tuesday that South Korean regulators appear to be "aggressively" targeting Coupang Inc., a U.S.-listed firm, through "discriminatory" actions, as the e-commerce giant is under intense scrutiny in Seoul over a massive customer data leak. Rep. Adrian Smith (R-NE), chair of the trade subcommittee of the House Ways and Means Committee, made the claim during a hearing, as Korean Trade Minister Yeo Han-koo was in Washington to address growing U.S. concerns over South Korea's regulatory efforts over online platform firms and the Coupang case. "Korean regulators already seem to be aggressively targeting U.S. technology leaders," he said. "One example would be Coupang through discriminatory regulatory actions." Smith pointed out last year's joint fact sheet on trade and security agreements between Seoul and Washington, which included a shared commitment to ensuring that U.S. companies are not discriminated against and do not face unnecessary barriers from laws and policies concerning digital services. "Unfortunately, it's my observation that Korea continues

Jan 14, 2026By Yonhap
US lawmaker accuses Korean regulators of 'discriminatory' actions against Coupang
Companies

MBK chairman avoids detention in Homeplus rehabilitation probe

MBK Partners Chairman Michael ByungJu Kim avoided detention Wednesday as the Seoul Central District Court dismissed prosecutors’ request for a warrant to detain him on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Capital Markets Act, in connection with Homeplus’ controversial court-led rehabilitation filing. The warrants were also denied for MBK Vice Chairman and Homeplus CEO Kim Kwang-il, MBK Vice President Kim Jeong-hwan and Homeplus Chief Financial Officer Lee Sung-jin on the same charges. Judge Park Jung-ho, who presided over detention hearings, said, “Although the alleged harm is undeniably serious, the evidence submitted so far does not sufficiently substantiate the charges to warrant detention.” He added that, given the degree of proof and the stage of the investigation, the case does not justify detention on the grounds of possible evidence tampering or flight. "The suspects should instead be given adequate opportunity to defend themselves while not in custody,” he said. Regarding the court ruling, MBK, the

Jan 14, 2026By Jun Ji-hye
MBK chairman avoids detention in Homeplus rehabilitation probe
Companies

BBQ chicken boss donates $750,000 to alma mater to help aspiring entrepreneurs

Emphasizing a deeper managerial pool — not larger cash reserves — as a potential buffer against economic uncertainties, Genesis BBQ Chairman Yoon Hong-geun recently donated 1 billion won ($750,000) to his alma mater, Chosun University, to support programs aimed at educating the next generation of entrepreneurs. Genesis BBQ Group said the funds will be used by the private university in Gwangju to expand education and research infrastructure, improve learning environments, and support programs aimed at cultivating globally competitive experts. Genesis BBQ, founded in 1995 as a fried chicken restaurant in Gyeonggi Province, now runs nearly 4,000 outlets in 57 countries. With Korea’s market nearing saturation, Yoon is betting on skilled employees to keep Genesis BBQ competitive. Yoon said the contribution was intended to return the support he received as a student and to help build a foundation for aspiring young people to succeed internationally. Genesis BBQ’s initiatives extend beyond Korea. In 2023, the company visited the Culinary Institute of America to take part in discussions o

Jan 14, 2026By Kim Hyun-bin
BBQ chicken boss donates $750,000 to alma mater to help aspiring entrepreneurs
Companies

Coupang CEO Rogers leaves Korea, avoids police summons over data leak

Harold Rogers, interim CEO of Coupang, has departed Korea and is staying in another country, according to police officials Tuesday, after he failed to comply with a police summons to appear for questioning as part of an investigation into a massive data leak. The police task force of the Seoul Metropolitan Police Agency has requested the Ministry of Justice to inform it when Rogers returns to Seoul. The ministry is considering whether to impose an overseas travel ban on him once he comes back, officials familiar with the matter told Yonhap News Agency. Rogers reportedly left Korea on Dec. 31 after attending a two-day parliamentary hearing on the breach of private information belonging to more than 33 million Coupang users in the country. Police summoned him on Jan. 1 for questioning on Jan. 5. A police official said Coupang learned of his departure only after being contacted by police. Police are seeking to bring him in for questioning on a date in mid-month that they declined to specify. A Coupang official said Rogers left for a business commitment that had already been scheduled and has

Jan 13, 2026By Yonhap
Coupang CEO Rogers leaves Korea, avoids police summons over data leak
Companies

Hyundai Motor appoints new head for struggling autonomous driving division

Hyundai Motor Group has appointed Park Min-woo, a prominent autonomous driving expert, as the new head for its struggling Advanced Vehicle Platform (AVP) Division. Park will also serve as CEO of 42dot, the group’s self-driving software developing unit, the carmaker said Tuesday. Park is renowned for his tech expertise in autonomous driving, having led relevant projects from industry-leading players such as Nvidia and Tesla. He will fill the void of former 42dot CEO Song Chang-hyun who left the company in December apparently by taking responsibility for the carmaker’s delayed self-driving progress. “Hyundai Motor Group has a strong base to lead an era of physical artificial intelligence (AI) with a broad portfolio encompassing software-driven vehicles, autonomous driving and robotics,” Park said. “I will devote myself to driving the carmaker to provide the benchmark for innovation in intelligent mobility,” he said. Before taking on his new role, Park played a central role in developing Nvidia's autonomous driving software as its vice president. He is also renowned for designing

Jan 13, 2026By Lee Min-hyung
Hyundai Motor appoints new head for struggling autonomous driving division
Banking & Finance

Korean won weakens again amid growing geopolitical risks

The Korean won is once again weakening against the U.S. dollar after a temporary rebound sparked by aggressive verbal intervention from monetary authorities in late December, according to market analysts, Tuesday. The won closed at 1,473.7 per dollar, Tuesday, down 5.3 percent from the previous day and moving back toward the 1,480-level it had hovered around before the Dec. 24, 2025, intervention — a level that reflected volatility similar to past financial crises. The intervention measure led to a sharp rebound, with the won gaining 33.8 won, strengthening from 1,483.6 to 1,449.8 per dollar — its largest one-day gain in more than three years. The won-dollar exchange rate stabilized over the next two sessions — Dec. 26 and Dec. 29 — reaching 1,429.8 won per dollar. Beginning on Dec. 30, however, it resumed an upward trajectory, breaching the 1,430, 1,440, 1,450, and 1,460 levels before returning to 1,470 per dollar, Tuesday. Economists and analysts said the government’s foreign exchange measures have yet to show a clear effect and that authorities should be cautious with further

Jan 13, 2026By Yi Whan-woo
Korean won weakens again amid growing geopolitical risks
Tech & Science

LG Innotek to invest $67.9 mil. to expand car AP module facility

LG Innotek will invest 100 billion won ($67.9 million) to expand its manufacturing facility in Gwangju, adding production lines for automotive application processor (AP) modules as part of its effort to grow its automotive electronics business, the company said on Tuesday. The company signed a memorandum of understanding with the Gwangju Metropolitan Government to build the AP module production lines. With the expansion of the new facility, scheduled to open this December, the total floor area of the Gwangju site will reach about 97,000 square meters. Automotive AP modules are compact, high-performance system-on-chip units that act as the "brain" of a vehicle, integrating and controlling its electronic systems. This area is emerging as a new business for the company, which began development last year. With the rise of autonomous and connected vehicles, the global vehicle AP module market is projected to grow at an annual rate of about 22 percent. However, despite the growth outlook, only a handful of suppliers currently have production capabilities. LG Innotek has been moving quickly to

Jan 13, 2026By Lee Gyu-lee
LG Innotek to invest $67.9 mil. to expand car AP module facility
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