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    Hyundai Motor union set to leverage strike against Atlas robot deployment

    Hyundai Motor’s labor union is poised to use a potential strike as leverage to secure job protections against the carmaker’s planned deployment of Atlas humanoid robots in its manufacturing operations. More than 86 percent of the carmaker’s roughly 40,000 union members voted in favor of the walkout, Wednesday, setting the stage for a contentious showdown over wages, job security and the upcoming robot deployment. The union also gained the legal right to go ahead with the strike, Thursday, after a state labor mediation committee decided to suspend its arbitration process between the two sides. While the carmaker’s annual wage negotiation has typically revolved around compensation, this year’s talks have hit a roadblock over a new core agenda on manufacturing automation amid the rise of physical artificial intelligence (AI). Earlier this year, Hyundai Motor Group unveiled its plan to gradually deploy Boston Dynamics’ Atlas humanoid robots across its major production lines here and abroad, which has drawn severe backlash from its union. Starting from 2028, the carmaker is schedul

    3 MIN READBy Lee Min-hyung
    Hyundai Motor union set to leverage strike against Atlas robot deployment
  • Business

    HD Hyundai, LS, SK hit pause on IPO plans as Korea delays dual-listing rules

    2 MIN READBy Lee Yeon-woo
    HD Hyundai, LS, SK hit pause on IPO plans as Korea delays dual-listing rules
  • Companies

    JoongAng Group's fate split between court, creditors

    3 MIN READBy Jun Ji-hye
    JoongAng Group's fate split between court, creditors
  • Companies

    Korean president, Samsung Electronics chief discuss chip cluster investment in southern region

    2 MIN READBy Yonhap
    Korean president, Samsung Electronics chief discuss chip cluster investment in southern region
  • Companies

    Transport ministry approves Korean Air's integration with Asiana Airlines

    1 MIN READBy Yonhap
    Transport ministry approves Korean Air's integration with Asiana Airlines
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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

US approves Samsung chipmaking tool shipments to China for 2026, source says

The U.S. government has granted an annual licence to Samsung Electronics to bring in chip manufacturing equipment to its facilities in China for 2026, a person familiar with the matter said on Tuesday. The approval is a temporary ‍relief for the South Korean firm and follows a U.S. decision earlier this year to revoke licence waivers given to some tech companies. The source said ‍that Washington introduced the annual approval system for ‍exports of chipmaking tools to China. Samsung, ‌SK hynix and TSMC had benefited from exemptions ‍to Washington's sweeping restrictions on chip-related exports to China. But the ‌privilege known as validated end user status will end on December 31, meaning shipments of American chipmaking tools to ‍their factories in China after that date will require ‍U.S. export licences. Samsung, SK and TSMC did not immediately respond to requests for comment. Keen to limit China's access to ‍advanced American technology, U.S. President Donald Trump's administration has been re-examining export controls that it ⁠thought were too relaxed under the Bi

Dec 30, 2025By Reuters
US approves Samsung chipmaking tool shipments to China for 2026, source says
Others

Nuclear safety watchdog approves Saeul-3 reactor operation

Korea's nuclear watchdog gave an official nod to the operation of the Saeul-3 reactor Tuesday, with its commercial launch set for next year. The Nuclear Safety and Security Commission made the decision after holding a meeting on whether to approve the operation of the Saeul-3, a homegrown APR1400 reactor located at the Saeul Nuclear Power Site in the southeastern port city of Ulsan. "In accordance with legal procedures and on scientific and technological grounds, we have thoroughly inspected the safety of the Saeul-3," Choi Won-ho, chairperson of the commission, said in a release. "We plan to continue strictly checking safety through pre-use inspections during nuclear fuel loading and the test-run process," Choi added. The approval comes about two weeks after the commission delayed its final decision in its initial meeting. With Tuesday's decision, the unit, whose construction began in 2016, will undergo a pilot run over the next six months. The Saeul-3 marks the first Korean nuclear reactor designed to withstand aircraft attacks, featuring walls measuring 137 centimeters in thickness, 15

Dec 30, 2025By Yonhap
Nuclear safety watchdog approves Saeul-3 reactor operation
Companies

Science minister reaffirms Coupang data leak affected 33 mil. customers

Science Minister Bae Kyung-hoon on Tuesday reaffirmed that a recent data leak at Coupang affected 33 million customers in Korea, noting the U.S.-listed e-commerce giant had "malicious intent" in its unilateral release of its own assessment report that claimed significantly less damage last week. "The joint government–private sector investigation, including the Personal Information Protection Commission and the police, revealed that the names and email addresses of more than 33 million users were leaked," Bae said during a parliamentary session. The remarks came after Coupang claimed last week it had identified a former employee responsible for the data leak through forensic evidence, recovered the equipment used in the hacking and received a confession from the suspect. The company claimed that data from only about 3,000 accounts was actually saved and later deleted by the suspect. The government, however, has dismissed Coupang's findings as a "unilateral claim," noting that a joint public-private investigation into the incident has yet to release any conclusions. "We cannot agree with

Dec 30, 2025By Yonhap
Science minister reaffirms Coupang data leak affected 33 mil. customers
Companies

Coupang executives grilled by lawmakers over massive data leak, compensation plan

Lawmakers grilled Coupang executives during a parliamentary hearing Tuesday over the online retailer's massive data leak that affected nearly two-thirds of Korea's population and its compensation plan that has drawn criticism. The two-day session began earlier in the day to examine the company's major breach as well as its alleged unfair practices, with Harold Rogers, interim chief executive of the company's Korean unit, facing a barrage of criticism. Lawmakers also took aim at the company's compensation plan unveiled the previous day designed to provide 50,000 won ($35) worth of discounts and coupons to each of the 33.7 million users affected by the breach. Coupang's compensation plan has drawn instant criticism because each customer is allowed to spend only 5,000 won at the online retailer's main platform, while the remaining vouchers worth 45,000 won could be used at other commerce platforms, including a platform for luxury goods. Critics say such measures may be aimed at prompting customers to spend more at Coupang's other platforms. "Not only is it a low-level of compensation, this c

Dec 30, 2025By Yonhap
Coupang executives grilled by lawmakers over massive data leak, compensation plan
Companies

Younger brother of SK chairman to lead SK Square in AI push

The younger brother of SK Group Chairman Chey Tae-won has been appointed to lead SK Square, the investment arm of the chip-to-energy conglomerate, in an apparent move to strengthen the company's artificial intelligence (AI) and semiconductor capabilities, industry sources said Monday. Chey Jae-won, executive vice chairman of SK Innovation, will head SK Square along with President Kim Jung-kyu starting early next year, according to the sources. SK Square was spun off from SK Telecom in 2021 and serves as an intermediate holding company, with chip giant SK hynix under its umbrella. Chey joined SKC, the group's chemical materials unit, in 1994 and has worked at SK affiliates, including SK Telecom, SK, and SK Innovation, for about 30 years. He was appointed executive vice chairman of SK Innovation last year to address the company's sluggish battery business performance, particularly at its subsidiary SK On, amid a slowdown in the global electric vehicle market. Chey's latest appointment came as SK Group has been reorganizing its business portfolio with a focus on AI and semiconductors. It also

Dec 29, 2025By Yonhap
Younger brother of SK chairman to lead SK Square in AI push
Companies

Hanwha Aerospace nears 3rd guided rocket deal with Poland

Hanwha Aerospace is expected to sign a third-stage contract Monday with the Polish government and a Polish defense company to export its Chunmoo multiple launch rocket systems to the European nation, industry sources said. The deal, reportedly valued at over 5 trillion won ($3.48 billion), will be signed between Hanwha Aerospace, the Polish government and the country's largest private defense firm, WB Electronics, following two previous deals in 2022 and 2024, according to the sources. The first-stage deal in 2022 was valued at 5.035 trillion won, while the second-stage deal in 2024 was valued at 2.2 trillion won. President Lee Jae Myung's chief of staff, Kang Hoon-sik, is reportedly set to attend the signing ceremony. Lee's office said earlier that Kang had left the country Sunday as a presidential envoy, but did not disclose his destination.

Dec 29, 2025By Yonhap
Hanwha Aerospace nears 3rd guided rocket deal with Poland
Companies

Webtoon industry revenue tops $1.397 bil. for 2nd straight year

Korea's webtoon industry continued its strong growth momentum in 2024, with total annual revenue exceeding 2 trillion won ($1.397 billion) for the second consecutive year, government data showed Monday. The domestic webtoon market generated an estimated 2.286 trillion won in revenue in 2024, up 4.4 percent from 2.189 trillion won a year earlier, according to the 2025 industry survey report released by the Ministry of Culture, Sports and Tourism and its affiliate, the Korea Creative Content Agency. The report showed the sector has expanded steadily since 2018, when the government began compiling official statistics. Webtoon revenue stood at just 379.9 billion won in 2017 but surged past the 1 trillion-won mark in 2020 and topped 2 trillion won for the first time in 2023. Japan remained the largest overseas market for Korean webtoons, accounting for 49.5 percent of total exports, followed by North America at 21.0 percent, Chinese-speaking regions at 13.0 percent, Southeast Asia at 9.5 percent and Europe at 6.2 percent. Online transmission rights accounted for 84 percent of total exports,

Dec 29, 2025By Yonhap
Webtoon industry revenue tops $1.397 bil. for 2nd straight year
Banking & Finance

Woori Financial Chairman Yim Jong-yong to serve 2nd term

Woori Financial Group Chairman and CEO Yim Jong-yong has been nominated as the sole final candidate for the group’s top post as his first three-year term nears its end, the group said Monday. While Yim’s appointment will be confirmed at the shareholder meeting scheduled for March 2026, industry officials said he has virtually secured a second term, given the favor typically shown to the final candidate. The second tenure would last another three years, running through March 2029, and commence immediately at the end of his first term in March 2026. “The chairman was chosen as the only candidate following interviews with four contenders conducted by the executive candidate recommendation committee,” the group said. The four shortlisted candidates in early December were Yim, Woori Bank CEO Jung Jin-wan and two external candidates whose names were withheld for privacy reasons. The committee praised Yim’s success in expanding nonbanking portfolios, noting, “He successfully expanded into the securities business and acquired insurance companies.” It added, “Yim completed a compreh

Dec 29, 2025By Yi Whan-woo
Woori Financial Chairman Yim Jong-yong to serve 2nd term
Tech & Science

LG Electronics seeks growth momentum with humanoid robots

LG Electronics is accelerating its push into humanoid robots as it searches for a new growth engine, debuting a new humanoid home robot LG CLOiD at CES 2026 as pressure mounts on its core businesses. With global logistics costs rising and demand slowing, the company is expected to post an operating loss in the fourth quarter, underscoring the limits of a portfolio still heavily weighted toward TVs and home appliances. According to financial data provider FnGuide, LG Electronics’ fourth-quarter is expected to see revenue at around 23.5 trillion won ($16.4 billion) to 23.6 trillion won, with its operating losses projected to exceed 180 billion won. While sales are expected to rise slightly from a year earlier, one-off costs such as a large-scale voluntary retirement program estimated to cost about 300 billion won, are projected to weigh on profitability. Though analysts say the setback is temporary, structural challenges remain. The company’s mainstay home appliance sector is continuing its sluggish seasonal performance, while the global TV market suffers from oversaturation and price c

Dec 29, 2025By Lee Gyu-lee
LG Electronics seeks growth momentum with humanoid robots
Companies

SK hynix stock surges after trading suspension lifted

Chipmaker SK hynix posted a strong rally on Monday after the Korea Exchange lifted a trading suspension on large-cap stocks showing a "excessively" steep rise. The memory giant closed at 640,000 won ($447), up 6.84 percent from the previous trading day, after maintaining a brisk uptrend throughout the session. The rally was interpreted as a sign of growing investor confidence from the eased trading rule and cast a rosy outlook on its memory business, including high-bandwidth memory (HBM) for artificial intelligence (AI) accelerators. On Dec. 11, the exchange operator placed a trading freeze on SK hynix shares under a regulation that halts stocks that have surged more than 200 percent from a year earlier. The rule is intended to prevent price rigging in small-cap stocks, but was also applied to large caps such as SK hynix, prompting criticism that the restriction is outdated. After the exchange operator revised the rule to exempt the top 100 stocks on the benchmark KOSPI and secondary Kosdaq from suspension, SK hynix returned to trading, boosting investor sentiment toward chip shares. Alon

Dec 29, 2025By Lee Min-hyung
SK hynix stock surges after trading suspension lifted
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