my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Fried chicken chain bhc expands US footprint with first Virginia restaurant

    Korean fried chicken giant bhc is planting its flag in one of the Washington metropolitan area’s busiest commercial hubs, anchoring its latest push into the United States with its first Virginia location. The chain, operated by Dining Brands Group, said Monday it opened its Arlington location in the Ballston neighborhood of Arlington County, marking its debut in Virginia as the company continues to broaden its North American presence. The restaurant is located near offices, residential complexes, shopping centers and recreational facilities, with convenient access to the Ballston-MU Metro station. The company said the area, which borders Washington across the Potomac River, attracts a steady mix of office workers, residents and visitors, making it a strategic location for growth. The approximately 169-square-meter restaurant offers full-service dining with 32 seats across 15 tables. Its menu has been tailored to local dining preferences, featuring wing- and tender-based combo meals, chicken sandwiches, Crispy Bun sandwiches, cheese balls and fries. Reflecting the popularity of dipping sa

    2 MIN READBy Lee Kyung-min
    Fried chicken chain bhc expands US footprint with first Virginia restaurant
  • Banking & Finance

    Winners of the 22nd Economic Essay Contest

    2 MIN READBy Lee Yeon-woo
    Winners of the 22nd Economic Essay Contest
  • Tech & Science

    Science ministry vows $650 bil. investment in AI data centers

    2 MIN READBy Yonhap
    Science ministry vows $650 bil. investment in AI data centers
  • Others

    Korea launches K-Chicken Belt to boost gastronomy tourism

    3 MIN READBy Ko Dong-hwan
    Korea launches K-Chicken Belt to boost gastronomy tourism
  • Companies

    Samsung, partner firms sign agreement for mutual growth

    2 MIN READBy Nam Hyun-woo
    Samsung, partner firms sign agreement for mutual growth
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

APEC 2025

Trade minister stresses open plurilateralism, AI cooperation for APEC economies

The Asia-Pacific Economic Cooperation (APEC) must strive for open plurilateralism and cooperation in the artificial intelligence (AI) and energy transition to navigate recent shifts and challenges in the global economy, Korea's trade minister said Thursday. "Today, APEC accounts for 61 percent of the global gross domestic product, 49 percent of world trade, serving as the world's leading production hub and a vital node in global supply chains," Trade Minister Yeo Han-koo said in his opening remarks for the APEC Ministerial Meeting (AMM) in the southeastern city of Gyeongju. "Amid profound shifts in the global economy, there is no better time than now to rekindle the spirit of openness and cooperation," he added. The AMM will serve as the final check before the upcoming APEC leaders' summit, set for Friday and Saturday, bringing together foreign and trade ministers of 21 APEC member economies to discuss pending issues for the region. Its deliberations will serve as a framework for an envisioned joint declaration — the Gyeongju Declaration — which Korea aims to have all APEC members e

Oct 30, 2025By Yonhap
Trade minister stresses open plurilateralism, AI cooperation for APEC economies
Companies

Samsung E&A's US unit wins $475 mil. ammonia plant deal

Samsung E&A, a plant engineering unit of Samsung Group, said Thursday its U.S. subsidiary has secured a 680 billion-won ($475 million) order to build an ammonia plant in the United States, marking its first such deal since its establishment. Samsung E&A America signed an engineering, procurement and fabrication (EPF) contract with Wabash Valley Resources LLC to construct a low-carbon ammonia plant in the state of Indiana by April 2028, the company said in a press release. Once completed, the plant will have an annual production capacity of 500,000 tons of ammonia and will be capable of capturing 1.67 million tons of carbon dioxide, it said. The ammonia produced at the facility will be used as fertilizer on farms across the midwest region of the United States, the company said.

Oct 30, 2025By Yonhap
Samsung E&A's US unit wins $475 mil. ammonia plant deal
Companies

SK Telecom shifts to red in Q3 due to data breach compensations

SK Telecom, Korea' leading mobile carrier, said Thursday its third-quarter earnings swung to a net deficit from a year earlier due mainly to massive compensation costs following a data breach that affected its entire 25 million-user base. It posted a net loss of 166.7 billion won ($117.1 million) for the July-September period, compared with a profit of 280.2 billion won a year earlier, the company said in a regulatory filing. The loss was 33.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Operating profit plunged 90.9 percent on-year to 48.4 billion won from 533.3 billion won. Its sales fell 12.2 percent to 3.97 trillion won. SK Telecom attributed the net loss to a 500 billion-won customer compensation program that included mobile rate cuts, additional data offers and discount coupons starting in August. In April, the company reported a large-scale cyberattack on its main servers, during which universal subscriber identity module (USIM) data was potentially compromised. In response, it offered to replace th

Oct 30, 2025By Yonhap
SK Telecom shifts to red in Q3 due to data breach compensations
Tech & Science

Samsung Electronics on track for recovery upon memory uptrend

Samsung Electronics said Thursday that its sales and operating profit for the third quarter stood at 86.1 trillion won ($60.45 billion) and 12.2 trillion won, respectively, marking the company's largest quarterly sales. The improvement was led by the solid recovery in its memory chip business amid the sharp growth in demand for artificial intelligence (AI) accelerators and server storage. Brisk sales of foldable and flagship smartphones also contributed to the overall recovery in its profitability. According to the company’s regulatory filing, third-quarter sales jumped 8.8 percent from 79.1 trillion won a year earlier, while operating profit surged 32.48 percent from 9.2 trillion won during the same period. Notably, its chipmaking Device Solutions (DS) division saw a sharp rebound. The division posted 33.1 trillion won in sales and 7 trillion won in operating profit, up 13 percent and 79.5 percent year-on-year, respectively. It was the DS division’s largest quarterly revenue, buoyed by expanded sales of AI-specific high-bandwidth memory (HBM) 3E chips and strong demand for Double Da

Oct 30, 2025By Nam Hyun-woo
Samsung Electronics on track for recovery upon memory uptrend
Banking & Finance

Woori Financial Group promotes inclusive finance at APEC meetings amid global ESG drive

Woori Financial Group is strengthening efforts to promote 2025 Asia-Pacific Economic Cooperation (APEC) events in cooperation with the government’s preparatory committee, solidifying its global standing as a leading financial group in Korea and the sole financial institution to join the government’s promotion drive. Woori’s involvement in the high-profile event reflects a broader shift in the financial sector’s role in social inclusion and sustainable development. The group’s campaign was first announced in August when it signed a memorandum of understanding with the finance ministry-led preparatory committee to serve as the official promotional partner for the 2025 APEC events. The company has since installed both traditional and digital signboards at its headquarters in Seoul, at Woori Bank branches nationwide and at outdoor venues around Incheon International Airport to raise awareness of the global event. Woori said its participation underscores its continued efforts to strengthen group-wide advocacy for inclusive and sustainable finance, advancing the country’s and the g

Oct 30, 2025By Lee Kyung-min
Woori Financial Group promotes inclusive finance at APEC meetings amid global ESG drive
Companies

Korea-US tariff agreement clears up uncertainties for carmakers

GYEONGJU, North Gyeongsang Province — Korea and the United States have finally reached an agreement on the details of a tariff agreement, clearing a major uncertainty for Korea’s automotive industry by reducing a U.S. tariff on vehicles from 25 percent to 15 percent. After weeks of stalemate, the two countries completed the negotiations Wednesday, during a bilateral meeting between Korean President Lee Jae Myung and U.S. President Donald Trump. The latest agreement included a lowered tariff rate on cars and car parts, $150 billion investment in a shipbuilding cooperation project and most-favored-nation (MFN) treatment for pharmaceuticals and wood products. It also guarantees zero tariffs on aircraft components, generic pharmaceuticals and natural resources produced outside the U.S., as well as a semiconductor tariff rate no greater than the one facing Taiwan, Korea’s main competitor. “'Reciprocal tariffs’ between the two countries will remain at the reduced rate of 15 percent, as agreed on July 30, and the same rate will apply to cars and car parts,” Kim Yong-beom, presidenti

Oct 29, 2025By Lee Gyu-lee
Korea-US tariff agreement clears up uncertainties for carmakers
APEC 2025

Top beauty, beer companies draw CEOs at APEC

Companies with top market shares in Korea's beauty and beer industries have joined in the festivities surrounding the Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju this week, promoting their top-selling brands to guests from around the world. Amorepacific and Oriental Brewery Company (OBC) have both set up booths in the city in North Gyeongsang Province to woo CEOs, government officials and global business representatives on the sidelines of APEC events, including the CEO Summit and Economic Leaders' Meeting. Neither company is among the 66 official sponsors, which have either provided their products for participating guests or promoted the region's largest business forum on their own channels. Amorepacific on Tuesday launched its K-Beauty Pavilion at HwangNyongWon, a corporate training center that has become a prominent local landmark, built to resemble a famed Silla-era pagoda that was once one of the tallest buildings in Asia. The venue is a block away from Gyeongju Hwabaek International Convention Center, where the economic leaders’ meeting will be held on Friday

Oct 29, 2025By Ko Dong-hwan
Top beauty, beer companies draw CEOs at APEC
APEC 2025

Diversified supply chains key to free trade system: WTO official

The World Trade Organization (WTO) still remains the backbone of global trade despite the rise of protectionism, a senior official at the WTO said Wednesday, calling for efforts to diversify supply chains to enhance the resilience of the free trade system. "The global trading system is under severe stress amid rising protectionism, unilateral tariffs and geopolitical fragmentation," Tomochika Uyama, senior adviser to the WTO director-general, said during a session on economic cooperation in the Asia-Pacific region of the APEC CEO Summit in the southeastern city of Gyeongju. The APEC CEO Summit is an official business gathering for the annual Asia-Pacific Economic Cooperation leaders summit. "Maybe many of you might think (the multilateral trading system) may be dead," he said. "Yet, 72 percent of the global trade in goods — 72 percent is a huge number — is still conducted under the WTO's most-favored nation terms. "The system is, of course, damaged, but it is not totally dysfunctional, and WTO still remains a backbone of global trade governance," he stressed. The WTO official's remark

Oct 29, 2025By Yonhap
Diversified supply chains key to free trade system: WTO official
APEC 2025

Tech giant leaders call for global cooperation to balance AI innovation

GYEONGJU, North Gyeongsang Province — Leaders of global tech giants Amazon Web Service (AWS), Meta and Naver emphasized the importance of global cooperation to achieve a balance between rapid artificial intelligence (AI) innovation and responsible governance. During a session on the AI-driven economy at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Meta Asia-Pacific Vice President Simon Milner underscored access to open-source AI and international cooperation as critical pathways for ensuring trustworthy and inclusive technology. “AI is evolving from generic tools to a super-smart system to learn from you, adapt to your goals and tasks, and help solve your unique problems,” he said. “Meta is actively engaged in that global conversation about AI, its competitiveness, regulation and the safeguards needed for responsible development,” he said. He shared that the company has collaborated with the nonprofit organization Linux Foundation to explore how open and collaborative approaches to AI can accelerate growth in the APEC region and ensure the benefits of advancement ar

Oct 29, 2025By Lee Gyu-lee
Tech giant leaders call for global cooperation to balance AI innovation
Companies

KT to offer data, discounts for customers hit by hacking incidents

KT, Korea's No. 2 mobile carrier, on Wednesday unveiled compensation packages for victims of recent unauthorized mobile payment breaches, including free data and discount vouchers. The company said the victims will receive 100 gigabytes of data per month for five months, along with a discount voucher worth 150,000 won ($104) that can be used to pay bills or purchase a new smartphone. The announcement came after KT said last week it would waive fees for customers affected by the breach as well. KT recently detected 20 illegal micro base station identifications (IDs) suspected of being used for unauthorized mobile payment breaches through its network, with 368 users suffering financial losses totaling 240 million won ($167,000).

Oct 29, 2025By Yonhap
KT to offer data, discounts for customers hit by hacking incidents
previous page
298299300301302
next page

Most Read in Business