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    Samsung Electronics maintains No. 1 spot in global DRAM market in Q1

    Samsung Electronics Co. maintained its position as the world's largest dynamic random-access memory (DRAM) supplier in the first quarter, industry data showed Thursday. According to market research firm Counterpoint Research, Samsung Electronics accounted for 38 percent of global DRAM revenue in the January-March period. Korean rival SK hynix Inc. ranked second with a 29 percent share, while U.S.-based Micron Technology Inc. came in third with 22 percent. SK hynix led the global DRAM market in the first and second quarters of last year, while Samsung ranked second. The two companies were tied at 33 percent in the third quarter before Samsung regained the top position in the fourth quarter and extended its lead for a second consecutive quarter in the first three months of 2026. The gap between Samsung and SK hynix widened to 9 percentage points in the first quarter from 4 percentage points in the previous quarter, according to the data. Although Samsung's market share declined from a year earlier, the company continued to hold a dominant position in the global DRAM market, accounting for we

    1 MIN READBy Yonhap
    Samsung Electronics maintains No. 1 spot in global DRAM market in Q1
  • Companies

    SK Telecom to deploy proprietary AI model in steel, auto parts factories

    2 MIN READBy Jhoo Dong-chan
    SK Telecom to deploy proprietary AI model in steel, auto parts factories
  • Companies

    Hyundai Glovis pushes AI adoption with in-house boot camp, executive training

    2 MIN READBy Jhoo Dong-chan
    Hyundai Glovis pushes AI adoption with in-house boot camp, executive training
  • Companies

    Samsung OLED TVs dominate June Consumer Reports rankings

    2 MIN READBy Jhoo Dong-chan
    Samsung OLED TVs dominate June Consumer Reports rankings
  • Companies

    LG CNS debuts agentic AI testing tool in push for global ERP market

    2 MIN READBy Jhoo Dong-chan
    LG CNS debuts agentic AI testing tool in push for global ERP market
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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

Coupang CEO's conduct prompts regulatory authorities to vow stronger sanctions

Coupang executives’ conduct over the company’s massive data leak is provoking a strong backlash from the National Assembly and prompting regulatory authorities to gear up for any possible measures to sanction the e-commerce giant. Since the data breach was disclosed in late November, the company’s top executives, including founder Kim Bom-suk, have been criticized for avoiding actions to take responsibility and apologize to the 33.7 million affected customers. Kim issued a belated apology on Sunday, but kept refusing to attend National Assembly hearings and instead sent the newly appointed interim CEO of Coupang Korea, Harold Rogers, in his place. In the three sessions he attended, Rogers failed to curb public anger toward the company and its executives, instead fueling discontent as participating lawmakers described his attitude as “arrogant." Besides the data breach, Coupang is mired in a series of other controversies, including poor working conditions at its logistics centers and multiple reports of workplace deaths. With Rogers delivering unclear responses to multiple questio

Dec 31, 2025By Lee Min-hyung
Coupang CEO's conduct prompts regulatory authorities to vow stronger sanctions
Companies

Coupang data breach fallout hits Coupang Play

E-commerce giant Coupang’s massive data breach affecting the personal information of 33.7 million users is now spilling into the company’s ecosystem, resulting in users opting out of its streaming service, Coupang Play. According to industry tracker IGAWorks, Coupang Play’s daily active users dropped to around 750,000 as of Dec. 23, down from its usual range of 800,000 to 1 million in 2025. In particular, Coupang Play’s daily active users peaked at between 1.18 million and 1.28 million on Nov. 29 and 30, when Coupang disclosed the breach, before falling to 990,000 on Dec. 1. The sharp swing suggests that user activity on the platform was affected by the fallout from the data leak. On a weekly basis, the downtrend is even more evident, with weekly active users falling from 4.09 million at the end of November to 3.46 million by mid-December, a drop of more than 600,000 users in less than a month. The dip stems from a strategy that bundles services such as Coupang Eats and Coupang Play with free shipping and returns under a single monthly subscription called WOW. When users cancel t

Dec 31, 2025By Lee Gyu-lee
Coupang data breach fallout hits Coupang Play
Banking & Finance

Hana Bank rolls out AI pension investment solution service

Hana Bank has launched an artificial intelligence (AI) pension investment and withdrawal management service, becoming the first bank in Korea to offer a comprehensive solution focused on the retirement payouts, the lender said Wednesday. The move coincides with growing concern over how older adults manage pension assets after retirement, as longer life expectancy and market volatility lead to increased risk of funds being depleted too quickly. The newly introduced service is designed for customers holding individual retirement pensions. It uses AI to propose portfolio strategies to secure a stable cash flow throughout the withdrawal period while balancing investment returns and risks. Unlike traditional pension services that emphasize fund increase, the new service focuses on withdrawal services mid-subscription. The service is built on a goal-based investing framework developed in collaboration with Hana Financial Group’s technology subsidiary, Hana TI. The system incorporates product recommendations, advanced asset allocation techniques and shorter rebalancing cycles. It also conducts s

Dec 31, 2025By Lee Kyung-min
Hana Bank rolls out AI pension investment solution service
Banking & Finance

Korea to reinforce EV safety coverage in 2026 amid rising fire risks

Compensation systems related to electric vehicle (EV) safety will be reinforced in 2026 as fires and explosions involving EVs continue to rise, insurance industry officials said Wednesday. According to the Korea Life Insurance Association and the General Insurance Association of Korea, mandatory liability insurance covering accidents at EV charging facilities will take effect on the first day of the new year. The insurance will cover bodily injury and property damage caused by fires, explosions or electric shocks at charging stations, and will be mandatory for EV charging operators as well as apartment complexes and other entities required to install chargers. Failure to comply will result in a fine of 2 million won ($1,400). Coverage limits will be set at up to 150 million won per person for bodily injury and up to 1 billion won per accident for property damage. The policy will extend beyond conventional fire incidents to include cases in which charging connectors are damaged due to overheating or electrical malfunctions, resulting in damage to vehicles. Separately, an additional compens

Dec 31, 2025By Jun Ji-hye
Korea to reinforce EV safety coverage in 2026 amid rising fire risks
Companies

Homeplus speeds up restructuring as no buyers show interest in takeover

Cash-strapped major retail distributor Homeplus is bolstering efforts to restructure its network of offline outlets to streamline its business and save money, as the company’s search to find a new owner has virtually failed. The retail store chain having 100,000 employees is making last-ditch efforts to avoid the worst-case-scenario of liquidation. Controlled by private equity MBK Partners, Homeplus filed for court receivership with the Seoul Bankruptcy Court last March due to a credit crunch. According to the company on Wednesday, it decided to close five Homeplus stores in the country by the end of January. The stores are in Siheung and Ansan in Gyeonggi Province, Cheonan in South Chungcheong Province, as well as Incheon and Daegu. The measure follows the shutdown of five other Homeplus stores in Seoul, Busan, Ulsan and the Gyeonggi Province cities of Goyang and Suwon on Sunday. Downsizing its store network is part of Homeplus’ rehabilitation plan for the receivership filed with the court on Monday. As part of the plan, the company reportedly intends to shut down more than 40 stor

Dec 31, 2025By Ko Dong-hwan
Homeplus speeds up restructuring as no buyers show interest in takeover
Banking & Finance

Insurance industry faces muted outlook despite premium hikes in 2026

Although premium hikes for auto insurance and indemnity health insurance are set for 2026, the insurance sector remains pessimistic as modest increases, combined with already elevated loss ratios, are unlikely to deliver a meaningful boost to its profitability, dampening expectations for a swift earnings turnaround, industry officials said Wednesday. After four straight years of cuts, auto insurance premiums are expected to rise for the first time in five years, with financial authorities considering an increase in the low-to-mid 1 percent range. Amid the government’s continued push for “shared growth,” non-life insurers reduced auto insurance premiums for four consecutive years, cutting rates by 1.2 to 1.4 percent in 2022, 2 to 2.5 percent in 2023, 2.1 to 3 percent in 2024 and 0.6 to 1 percent in 2025. At the same time, higher claims per accident and rising costs have put additional pressure on auto insurance loss ratios. Industry data shows that the average auto insurance loss ratio at the four largest non-life insurers — Samsung Fire & Marine Insurance, Hyundai Marine & Fire

Dec 31, 2025By Jun Ji-hye
Insurance industry faces muted outlook despite premium hikes in 2026
Companies

Coupang says data breach compensation plan not tied to lawsuit waiver condition

The interim head of Coupang, the Korean unit of U.S.-listed Coupang, said Wednesday that the company's compensation plan for a recent data breach will not include any conditions requiring customers to waive their right to file lawsuits against the e-commerce giant. Responding to a question from Democratic Party of Korea's Rep. Hwang Jung-a during a parliamentary hearing, Harold Rogers, the company's interim chief executive officer (CEO), said the compensation would not be tied to a clause barring civil or criminal legal action. "There are no conditions in those vouchers, and there will not be any conditions in those vouchers," he said. He also said the compensation plan would not be used as grounds to seek a reduction in potential damages should claims be filed in the future. "In U.S. lawsuits, I don't believe that would be (considered) a mitigating factor," said Rogers, the former chief administrative officer (CAO) of Coupang Inc., referring to the compensation plan. On Monday, the company announced a compensation plan worth 1.685 trillion won ($1.17 billion), a day after Coupang founder

Dec 31, 2025By Yonhap
Coupang says data breach compensation plan not tied to lawsuit waiver condition
Companies

US LNG, MASGA projects set to fuel Korea's shipbuilding growth in 2026

The shipbuilding industry is expected to remain one of the biggest contributors to Korea’s economy in 2026, supported by rising demand for liquefied natural gas (LNG) carriers in the United States and the full-scale launch of the “Make American Shipbuilding Great Again (MASGA)” project. The industry’s business sentiment for the first quarter of 2026 rose 19 points from the previous quarter to 96, well above the overall average of 77, according to a recent survey conducted by the Korea Chamber of Commerce and Industry. The Korea Economic Research Institute also projected that higher ship and semiconductor exports will play a key role in increasing the nation’s total exports by 0.8 percent in 2026. “The shipbuilding industry will continue receiving a healthy amount of orders, particularly for high-value-added vessels and naval ships,” the institute said. Despite a global downturn in shipbuilding orders in 2025 — which nearly halved the volume of orders placed with Chinese firms — Korea’s three major shipbuilders still met their annual order targets. HD Korea Shipbuilding

Dec 31, 2025By Park Jae-hyuk
US LNG, MASGA projects set to fuel Korea's shipbuilding growth in 2026
Companies

Canceled EV battery orders push Korean firms to double down on ESS

Repeated cancellations of supply deals with North American electric vehicle (EV) companies have rattled the Korean battery industry, prompting cell makers to shift their focus to energy storage systems (ESS). With recent year-end reshuffles all strengthening ESS teams, expectations are growing that LG Energy Solution (LGES), Samsung SDI and SK On will ramp up efforts to secure ESS experts at home and abroad. On Monday, battery materials maker L&F said the value of its high-nickel cathode material supply deal signed in February 2023 with a North American EV company, later revealed as Tesla, was slashed from $2.9 billion to $7,386 due to changes in the global EV market and battery supply conditions. The de facto cancellation followed the termination on Dec. 17 of a 9.3 trillion won ($6.4 billion) battery supply contract signed in October 2024 between LGES and Ford Motor. LGES also disclosed on Dec. 26 that a 3.9 trillion won module supply deal with Freudenberg Battery Power Systems, signed in April 2024 for the EV battery business of the U.S. firm’s parent, Freudenberg E-Power Systems,

Dec 31, 2025By Park Jae-hyuk
Canceled EV battery orders push Korean firms to double down on ESS
Companies

Lotte reforms to strengthen long-term competitiveness

Lotte Group is accelerating a wide-ranging business restructuring effort aimed at optimizing its portfolio and reinforcing financial stability. The effort also seeks to foster growth in future-oriented sectors such as biopharmaceuticals and hydrogen energy, the group said Tuesday. Lotte’s restructuring strategy includes refining its petrochemical operations, expanding high-value specialty materials and divesting noncore businesses to reallocate capital toward strategic growth drivers. Of the group’s subsidiaries, Lotte Chemical is leading the effort within the petrochemical division to shift away from commoditized products toward higher-margin specialty materials as part of a broader industry overhaul. In a bid to adapt to Korea’s rapidly changing petrochemical sector, Lotte Chemical submitted the first restructuring proposal ahead of the government’s deadline, aiming to integrate its Daesan plant with HD Hyundai Chemical. Under the plan, the company said it aims to reduce redundant capacity and improve operational efficiency amid sluggish global demand and oversupply. “Market o

Dec 31, 2025By Jhoo Dong-chan
Lotte reforms to strengthen long-term competitiveness
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