my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    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
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Business

Another S. Korea-operated vessel transits through Strait of Hormuz

Another vessel operated by a South Korean shipper has successfully passed through the crisis-stricken Strait of Hormuz, marking the second case of its kind, Seoul's oceans ministry said Thursday. The vessel is a liquefied natural gas (LNG) carrier operated by a Korean shipping company under a charter agreement with a foreign party, with eight Korean crew members on board, according to the Ministry of Oceans and Fisheries. Details of the ship, the company and the foreign charterer were undisclosed. The ministry said the decision was made through consultations between the Korean shipper and the foreign charterer. The vessel is headed to a different destination than South Korea, it added. With the latest case, the number of South Korean vessels stranded in the Strait of Hormuz went down to 24 from 25, with the number of Korean sailors down to 139 from 147. Last month, Universal Winner, a South Korean oil tanker operated by Korean shipping company HMM, successfully exited the strait, marking the first case of its kind. The ship arrived in the southeastern port city of Ulsan on Wednesday, carry

Jun 11, 2026By Yonhap
Another S. Korea-operated vessel transits through Strait of Hormuz
Banking & Finance

Global insurance leaders convene in Seoul as AI, emerging technologies reshape risk

As artificial intelligence (AI) reshapes industries and geopolitical tensions add new layers of uncertainty, more than 1,300 global insurance leaders and risk specialists have gathered in Seoul this week to debate how the industry should adapt and move forward. The Korea International Insurance Conference (KIIC), sponsored by Samsung Fire & Marine Insurance, opened Wednesday at the Grand InterContinental Seoul Parnas under the theme "Insuring the Future in a Changing Risk Landscape." The two-day event has drawn participants from 175 companies across 27 countries, including insurers, reinsurers, brokerage firms, insurtech groups — which use technology to find cost savings and efficiencies — and risk consultancies, making it Korea's largest international gathering for the insurance sector. Now in its third year, KIIC has established itself as a forum for cross-border dialogue, knowledge sharing and business partnerships between Korean insurers and global markets. This year's conference moves beyond traditional discussions of underwriting and claims, focusing instead on how insurers ca

Jun 11, 2026By Park Han-sol
Global insurance leaders convene in Seoul as AI, emerging technologies reshape risk
Tech & Science

InterviewSES AI eyes robotics boom with 'vibe research' tool for battery materials

The battery industry is bracing for a paradigm shift as the rise of physical artificial intelligence (AI) boosts demand beyond traditional applications such as electric vehicles (EVs) and energy storage systems (ESS) to include drones, humanoid robots and other robotic systems. The transition forces battery makers to invest more heavily in developing new materials and capabilities for delivering the power output, safety and durability required for next-generation robotics. SES AI, a Boston-based battery firm, believes “vibe research” will be at the center of this new paradigm. The AI-driven approach allows researchers to guide and orchestrate materials discovery through simple prompts, dramatically shortening battery development cycles “from years to weeks” while reducing research costs through the company’s Molecular Universe platform. During an interview with The Korea Times, SES AI founder and CEO Qichao Hu emphasized that the race to produce humanoid robot batteries will be about how quickly companies can discover and commercialize new materials, as humanoid robots are exp

Jun 11, 2026By Nam Hyun-woo
SES AI eyes robotics boom with 'vibe research' tool for battery materials
Companies

KEF chairman urges cooperative labor relations in AI transformation at ILO

Korea Enterprises Federation Chairman Sohn Kyung-shik urged cooperative relations between labor and management in businesses’ artificial intelligence (AI) transformation during his speech at the 114th Session of the International Labour Conference hosted by the International Labour Organization (ILO) in Geneva Wednesday. Sohn attended the ILO session in Geneva as Korea’s representative of employers. Minister of Employment and Labor Kim Young-hoon and Federation of Korean Trade Unions President Kim Dong-myeong also participated as representatives of the government and labor, respectively. Sohn said AI is driving a profound transformation of socioeconomic structures and the way people live and work, stressing the need to create an environment that fosters entrepreneurship and innovation. "Every country must swiftly reform outdated laws and institutions that no longer fit the demands of the times," he said. "In Korea's case, it is urgent to make labor market regulations, such as strong protections for regular workers and a standardized working-hour system, more flexible." Sohn noted tha

Jun 10, 2026By Nam Hyun-woo
KEF chairman urges cooperative labor relations in AI transformation at ILO
Tech & Science

Kakao union holds 1st-ever walkout over bonus pay dispute

Tech giant Kakao’s labor union staged its first-ever walkout on Wednesday, escalating a dispute with management over performance-based compensation after labor and management failed to reach an agreement. It is rare for a labor union in the IT industry to launch a strike. The industry is closely watching how the labor dispute at Kakao develops, as it could affect bonus talks in other companies across the sector. The union staged a partial strike from 10 a.m. to 3 p.m. on Wednesday. The walkout included employees from Kakao and its affiliates — Kakao Pay, Kakao Enterprise, DK Techin and XL Games. According to the union, about 1,500 workers across the five entities, including around 1,000 employees from Kakao itself, took part in the action. About 800 union members also held a sit-in rally in front of Kakao’s Pangyo office in Seongnam, Gyeonggi Province, followed by an 800-meter march from Pangyo Station on the Shinbundang Line. “Management failures resulted from management decisions, so why should workers bear the burden through restructuring and layoffs?” a union official said

Jun 10, 2026By Lee Gyu-lee
Kakao union holds 1st-ever walkout over bonus pay dispute
Companies

New gallery at old Seoul Station retraces Korea’s railroad history

A closed railway platform that had been the de facto center of Korea’s railroad operation until its closure in 2004 has been transformed into a gallery that travels back to the venue's past. Korea Railroad Corp. (KORAIL), a state-run railway operator, hosted an opening ceremony for a new gallery at the old station building on Wednesday, a day before its public opening. The gallery will run through Aug. 17. Built in 1925 during the Japanese colonial rule (1910-45), the former station building serviced trains until KTX high-speed trains began operating at the new Seoul Station next to the century-old building. In 2011, the old building was reopened as Culture Station Seoul 284, serving as a cultural space and hosting occasional art events since. The gallery, named “Seoul Station 2026: Where Memory Meets Movement,” introduces media, installations and archived photos prepared by 15 artists. The gallery, run by art director Kim Mi-youn, invites visitors to explore the old station, which has preserved most of its functions including the stationmaster’s room, VIP Room, the waiting hall

Jun 10, 2026By Ko Dong-hwan
New gallery at old Seoul Station retraces Korea’s railroad history
Companies

Hyundai's self-driving chief highlights execution over development

The future of competition in artificial intelligence (AI), autonomous driving and software-defined vehicles (SDVs) will be determined not by who develops technologies first, but by who can bring them to market fastest, safest and at scale, said Park Min-woo, head of Hyundai Motor Group’s Advanced Vehicle Platform (AVP) Division. Park characterized the industry’s competitive paradigm with a single word: execution. “The future will not be decided by who invents a technology first, but by who can deliver reliable, scalable products that people can trust and use safely,” Park said in an intra-company interview. “Research alone is not enough. The real challenge is elevating technology to a level where customers have confidence in it.” A key objective for the carmaker’s software initiative lies in internalizing capabilities in core autonomous driving software, while accelerating commercialization through what he calls an “execution-first” approach. Park, who also serves as CEO of 42dot, the group’s self-driving software development unit, stressed that data utilization will b

Jun 10, 2026By Lee Min-hyung
Hyundai's self-driving chief highlights execution over development
Companies

Polestar 4 Coupe launches in Korea with chassis upgrades, price cuts

Swedish electric vehicle brand Polestar has launched the 2027 Polestar 4 Coupe in Korea, introducing a name change, chassis improvements and a price reduction of up to 2 million won ($1,450) on select trims, the company said Wednesday. Online sales opened at 3 p.m. The 2027 update drops "SUV" from the model name — the vehicle will now be sold as the "Polestar 4 Coupe" — and restructures the lineup into three trims: Rear Motor, Dual Motor, and Dual Motor Performance. On the mechanical side, the Rear Motor and Dual Motor trims gain a chassis package as standard equipment, comprising high-capacity passive dampers, new springs and anti-roll bars, and polyurethane rebound stops, along with improved steering precision. The updates are aimed at sharpening daily driving comfort and handling balance. Design changes include contrasting-color emblems — black for Storm and Electron exterior colors, grey for Snow, Magnesium and Space — replacing the previous body-color treatment. Inside, a black emblem has been added to the panoramic glass roof, while seat belts and rotary knob inserts are dif

Jun 10, 2026By Jhoo Dong-chan
Polestar 4 Coupe launches in Korea with chassis upgrades, price cuts
Tech & Science

Samsung mulls new chip packaging plant in Gwangju

Samsung Electronics is doing a feasibility study on establishing a semiconductor packaging plant in the southwestern city of Gwangju, government and industry officials said Wednesday, noting that plans will likely be announced during a presidential meeting later this month. According to officials, Samsung Electronics is now reviewing its investment plan for the new semiconductor packaging plant to address growing memory chip demands and in response to President Lee Jae Myung's push for more balanced regional development. If the plan is finalized, the facility is expected to be responsible for advanced semiconductor packaging for Samsung Electronics' latest chips, including high-bandwidth memory (HBM). Packaging, which comes after the fabrication process in semiconductor manufacturing, was traditionally regarded as a lower-value, less technologically demanding stage, compared with front-end wafer processing, where ultrafine circuits are etched onto wafers using highly sophisticated equipment. However, as artificial intelligence semiconductors become increasingly advanced, the ability to

Jun 10, 2026By Nam Hyun-woo
Samsung mulls new chip packaging plant in Gwangju
Companies

Hyundai Motor brings FIFA World Cup 2026 campaign into Rocket League, Fortnite

Hyundai Motor said Wednesday it has partnered with Epic Games to bring its FIFA World Cup 2026 campaign into two of the world's most popular video games, extending the automaker's sports marketing into the gaming space. Beginning Thursday, Hyundai will feature the IONIQ 6 N Line as a playable car item in Rocket League — a vehicle-based soccer game with tens of millions of players worldwide — along with exclusive World Cup sponsorship decal that changes the car's color scheme and design pattern. The in-game content runs through July 19. During the event, players can represent one of the 48 nations competing at the World Cup, with goals scored contributing to a cumulative national tally. Completing 10 in-game quests unlocks the IONIQ 6 N Line item, and players who drive 8,000 meters or more with the vehicle receive the decal. Hyundai will also sponsor a tournament, the Next Starts Now Cup, in which Rocket League influencers and professional players compete using only the IONIQ 6 N Line. Matches will be streamed live on participants' channels. Additionally, from June 25 through July 19,

Jun 10, 2026By Jhoo Dong-chan
Hyundai Motor brings FIFA World Cup 2026 campaign into Rocket League, Fortnite
previous page
209210211212213
next page

Most Read in Business