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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

    Gaon Cable lands 1st global EV supply chain deal with AI data center project

    1 MIN READBy Lee Kyung-min
    Gaon Cable lands 1st global EV supply chain deal with AI data center project
  • Companies

    Upbit steps onto fairway with KPGA Tour sponsorship

    1 MIN READBy Lee Kyung-min
    Upbit steps onto fairway with KPGA Tour sponsorship
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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

Hyundai Motor names 4 new presidents in year-end reshuffle

Hyundai Motor Group has named four new presidents during its year-end reshuffle of top management, with a keen focus on enhancing its research and manufacturing capabilities to drive an era of software-defined vehicles (SDVs), the carmaker said Thursday. Manfred Harrer, former executive vice president at the carmaker, has been promoted to president and head of R&D. Since joining the carmaker in 2024, he has improved overall vehicle performance, according to the group. “The new R&D chief will enhance Hyundai Motor Group’s technological competitiveness for its successful transformation into an SDV maker,” a Hyundai official said. The carmaker, however, did not fill in the position of former President Song Chang-hyun, who led the carmaker’s advanced vehicle platform division. Song mapped out the carmaker’s SDV strategy, but he stepped down from the position on Dec. 5 apparently due to the firm’s delayed progress in autonomous driving. On the hardware front, the carmaker also promoted Jung Jun-cheul, former executive vice president and head of manufacturing solutions, to presiden

Dec 18, 2025By Lee Min-hyung
Hyundai Motor names 4 new presidents in year-end reshuffle
Banking & Finance

Kyobo Life chairman’s son takes helm of enterprise-wide AI transformation

Kyobo Life Insurance is stepping up its artificial intelligence transformation (AX) and digital business push by placing a third-generation owner in a leading role, as AI emerges as a critical competitive edge in the financial industry, the company said Thursday. The firm named Shin Jung-ha, an executive director and the eldest son of Kyobo Life Chairman Shin Chang-jae, as head of enterprise-wide AX support and group management strategy as part of its regular leadership reshuffle on Monday. “In his new role, Shin will take charge of developing and coordinating AX strategies for Kyobo Life and the group as a whole, while boosting the effectiveness of AI projects led by business divisions,” a Kyobo Life official said. Born in 1981, Shin previously headed the digital innovation new business team at Kyobo Information & Communications, now Kyobo DTS. He joined Kyobo Life in 2022 and has since played a key role in shaping the group’s digital transformation strategy. He was promoted to executive director last year. Kyobo Life’s latest reshuffle is widely seen as a clear signal that the

Dec 18, 2025By Jun Ji-hye
Kyobo Life chairman’s son takes helm of enterprise-wide AI transformation
Companies

Korea’s big 3 tiremakers bet big on Europe

Major Korean tire manufacturers are accelerating their investments in Europe, drawn by the region’s strategic advantages for timely tire supply to local customers. The move comes amid surging demand for high-margin, value-added premium tires, which are increasingly favored in the European market. Hankook Tire, Korea’s largest tire maker, is expanding a production line at its Racalmas factory in Hungary to produce an additional 800,000 commercial vehicle tires annually by 2027. Once completed, the factory’s total production capacity will reach 18.8 million tires. Europe is Hankook Tire’s largest market, representing 45 percent of the company’s total sales last year. The firm’s tire business posted a third-quarter operating profit of 519.2 billion won ($350 million), up 10.4 percent from a year earlier. Hankook Tire attributed the double-digit earnings growth to strong sales of high-margin tires over 18 inches, particularly from European customers. Kumho Tire is also moving to expand its investment in Europe, recently confirming plans to build a new manufacturing facility in O

Dec 18, 2025By Lee Min-hyung
Korea’s big 3 tiremakers bet big on Europe
Tech & Science

Do you own this old LG air conditioner? Its gold logo is now worth a fortune

An LG Electronics Whisen air conditioner sold as a limited edition two decades ago is drawing renewed attention after it was revealed that its front logo was made of solid gold, a discovery amplified by the recent surge in global gold prices. The buzz began after a case surfaced online in which the logo from a long-forgotten, unused air conditioner was removed and sold for more than 700,000 won ($475). The story gained traction after a Seoul-based gold shop owner and YouTuber known as Ringring Unni uploaded a customer consultation video to her channel on Dec. 11. The customer brought in a small gold piece, saying it had been removed from the front of an LG Whisen air conditioner. She said a delivery worker at the time had told her it was gold and that advertisements from the time of sale had also described it as real gold. After melting and analyzing the piece, she confirmed that the Whisen logo was made of about 3.75 grams of pure gold. She later called the customer to say, “It is not 18-karat gold, but pure gold. The purity came out at 99.3 percent.” She purchased it for 713,000 w

Dec 18, 2025By Hankookilbo
Do you own this old LG air conditioner? Its gold logo is now worth a fortune
Companies

Samsung C&T-DT Infrastructure JV wins $635.7 mil. high-voltage power transmission project in Australia

Samsung C&T, the construction arm of Samsung Group, said Thursday its joint venture with Australia's DT Infrastructure has secured a 940 million-won ($635.7 million) deal to build high-voltage power transmission facilities in Australia. TasVic Greenlink, the joint venture, signed a contract with Marinus Link, the project operator, to build a 750-megawatt high-voltage direct current (HVDC) electricity interconnector between the Australian states of Tasmania and Victoria, according to Samsung C&T. TasVic Greenlink is a 50-50 joint venture between Samsung C&T and DT Infrastructure. Samsung C&T said its track record in delivering infrastructure projects in Australia and globally was recognized by the project operator. The company has been expanding its presence in the Australian energy market following a 200 billion-won deal for the Gnarwarre battery energy storage project in July.

Dec 18, 2025By Yonhap
Samsung C&T-DT Infrastructure JV wins $635.7 mil. high-voltage power transmission project in Australia
Companies

Hyundai Motor to expand plug-and-charge EV charging network in Korea starting 2026

Hyundai Motor Group said Thursday it will significantly expand its plug-and-charge (PnC) electric vehicle (EV) charging network starting next year to provide a more convenient and secure charging experience for customers. PnC is an international standard technology that allows drivers to start charging simply by connecting the charging cable to the vehicle, with user authentication, charging and payment carried out automatically without the need for cards or additional verification unlike conventional charging systems. The group plans to expand access to the PnC service beyond its current 64 E-pit charging stations by partnering with 12 major domestic charging operators, including Chaevi, GS ChargEV and NICE Infra. Hyundai will first work with Chaevi and Hyundai Engineering to apply PnC technology to their existing charging stations by the first quarter of 2026, increasing the number of PnC-enabled chargers to more than 1,500. In the second half of the year, Hyundai plans to enable PnC functionality for slow chargers after verifying communication standards and payment systems. A group off

Dec 18, 2025By Yonhap
Hyundai Motor to expand plug-and-charge EV charging network in Korea starting 2026
Companies

LG Energy Solution says Ford canceled $6.5 bil. battery supply deal

LG Energy Solution said Wednesday it has been notified of the cancellation of a 9.6 trillion won ($6.5 billion) battery supply order from Ford Motor signed last year. "This matter concerns the counterparty's decision to discontinue the production of certain electric vehicle (EV) models due to recent policy changes and shifts in EV demand forecasts, and the subsequent notice of contract termination," LG Energy Solution said in a regulatory filing. Under the contract signed in October 2024, LG Energy Solution was to supply 34 gigawatt-hours (GWh) of batteries to Ford from 2026 to 2030 and an additional 75 GWh from 2027 to 2032 for the U.S. automaker's commercial vehicles. The batteries were planned to be produced at LG Energy Solution's plant in Poland. The termination comes as Ford has recently revised its business strategy, scaling back all-electric vehicle models while shifting its focus toward hybrid trucks and its energy storage business.

Dec 17, 2025By Yonhap
LG Energy Solution says Ford canceled $6.5 bil. battery supply deal
Banking & Finance

Seoul stocks soar nearly 1.5% on chip bargain hunting; won at 8-month low

Korean stocks climbed by almost 1.5 percent Wednesday, as investors went bargain hunting for semiconductors. The Korean won dropped to an eight-month low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 57.28 points, or 1.43 percent, to 4,056.41. The KOSPI recovered to the 4,000 level after sliding to a nine-day low the previous session. Trade volume was moderate at 354.2 million shares worth 12.7 trillion won ($8.6 billion). Winners outnumbered losers 531 to 343. "The KOSPI's rise was led by Samsung Electronics and SK hynix. Without their advances, the KOSPI would have remained weak," Lee Kyoung-min, an analyst at Daishin Securities, said. Lee warned that short-term volatility, citing persisting foreign exchange risks and continued sell-off from foreign investors, may increase. Foreigners sold off a net 28.9 billion won. Institutional investors purchased a net 335.7 billion won, while retail investors offloaded a net 337.7 billion won. Large-cap shares ended mixed. Market top-cap Samsung Electronics rose 4.96 percent to 107,900 won, and its chipmaking ri

Dec 17, 2025By Yonhap
Seoul stocks soar nearly 1.5% on chip bargain hunting; won at 8-month low
Companies

Mercedes-Benz CSR Committee expands eco-friendly activities

The Mercedes-Benz Corporate Social Responsibility (CSR) committee is expanding its eco-friendly initiatives through its flagship projects on urban forest creation and restoration in areas affected by wildfires, the organization said Wednesday. The Boramae Park Green+ Urban Forest is the seventh urban forest developed under the Green Plus Urban Forest Project launched in 2022 under a partnership between the committee and the Seoul Metropolitan Government. The primary purpose of the project is to improve the urban environment and address climate challenges, the committee said. It has so far established seven urban forests across Seoul. Covering approximately 1,200 square meters within Boramae Park, the newest forest features 3,127 trees and shrubs with strong carbon-reduction benefits. They include mock orange and spirea. The space also has resting areas for citizens to relax comfortably in nature. Recognized for its contribution to public green spaces, the urban forest at Boramae Park received a corporate partnership award at the 2025 Seoul International Garden Show. The award is given to

Dec 17, 2025By Lee Min-hyung
Mercedes-Benz CSR Committee expands eco-friendly activities
Companies

CJ chairman bets on food, entertainment biz with UAE

CJ Group Chairman Lee Jae-hyun visited the United Arab Emirates to bolster the group’s food, beauty and entertainment businesses in the country and across the Middle East. The visit to Abu Dhabi marked the end of his tour of the group’s major global markets this year, which began in Japan and continued through the United States and the United Kingdom. During his weeklong visit to the UAE, which began on Dec. 6, Lee met Khaldoon Al Mubarak, chairman of the Abu Dhabi Executive Affairs Authority and CEO of state-run Mubadala Investment Company. The meeting followed their previous encounter in London in September. Khaldoon was also a key figure behind Korean President Lee Jae Myung’s summit with UAE President Mohamed bin Zayed Al Nahyan in Abu Dhabi last month. The CJ Group chairman also met Mohamed Al Mubarak, chairman of the Department of Culture and Tourism, and Abdullah Al Hamed, chairman of the UAE Government Media Office, during the visit. In his Abu Dhabi meetings, he sought to forge new business partnerships with the UAE government and local firms in the media, content, tourism

Dec 17, 2025By Ko Dong-hwan
CJ chairman bets on food, entertainment biz with UAE
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