my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Korea mounts final push for Canada's $39 bil. submarine project

    The Korean government and defense players are making last-ditch efforts to win Canada’s next-generation submarine project worth up to 60 trillion won ($39.14 billion), as Ottawa is expected to select a preferred bidder by the end of this month. Under the Canadian Patrol Submarine Project, the Royal Canadian Navy’s aging fleet of four Victoria-class submarines will be replaced with 12 new 3,000-ton diesel-electric vessels. The comprehensive contract includes long-term maintenance, repair and overhaul (MRO) lifecycles. With a decision looming, Seoul has elevated its bid to top-tier head-of-state diplomacy, seeking to give Korea’s consortium, led by Hanwha Ocean, an edge over rival bidder TKMS of Germany — a traditional heavyweight in submarine technology — in the closely contested race. President Lee Jae Myung recently provided critical diplomatic backing during a bilateral summit with Canadian Prime Minister Mark Carney on the sidelines of the Group of Seven summit in Evian-les-Bains, France. Lee said he emphasized Korea’s readiness to contribute to Canada’s defense capabil

    3 MIN READBy Lee Min-hyung
    Korea mounts final push for Canada's $39 bil. submarine project
  • Companies

    Carmakers intensify rivalry in SDVs

    2 MIN READBy Lee Min-hyung
    Carmakers intensify rivalry in SDVs
  • Companies

    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

    1 MIN READBy Lee Min-hyung
    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics
  • Tech & Science

    Korean battery makers accelerate push into US ESS market

    2 MIN READBy Lee Gyu-lee
    Korean battery makers accelerate push into US ESS market
  • Banking & Finance

    Woori Financial steps up productive finance with $6.5 bil. boost

    2 MIN READBy Lee Hyo-jin
    Woori Financial steps up productive finance with $6.5 bil. boost
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

Companies

Adobe taps tech veteran Fabio Tiviti to lead Asia expansion

Adobe appointed Fabio Tiviti as vice president of its Asia business, the company announced Tuesday, as the Silicon Valley design and marketing software giant moves to expand its footprint in Asia, the world’s fastest-growing artificial intelligence (AI) market. Tiviti will oversee Adobe’s enterprise operations across Korea, Southeast Asia and Greater China. He will report to Ben Goodman, the president of Adobe Asia Pacific and Japan. The appointment comes as global tech firms aggressively vie for enterprise clients in Asia, a region increasingly viewed as a crucial battleground for commercial AI deployment. Tiviti brings more than 25 years of technology sector experience in the Asia-Pacific region. He most recently served as group vice president at Workday, where he directed field operations and market strategies across Asia, Japan, Europe and the Middle East. He has also held senior executive roles at SAP and Infor. "Fabio brings proven experience driving growth and innovation," Goodman said in a statement, noting that the new executive's leadership would be pivotal in helping clie

May 27, 2026By Jhoo Dong-chan
Adobe taps tech veteran Fabio Tiviti to lead Asia expansion
Companies

Kakao's labor, management to engage in 2nd mediation talks as strike looms

A labor union at Kakao, the operator of Korea's popular messenger service, and the company's management will undergo a second round of mediation with the Gyeonggi Regional Labor Relations Commission later Wednesday, industry sources said. The mediation procedures, set to take place at 3:00 p.m., come after the two sides failed to narrow differences in the first round of wage talks held May 18, according to sources. If the regional labor office decides to suspend the mediation, unionized members at Kakao's headquarters will secure their rights to strike, along with unions at four of the company's affiliates. The five labor unions had voted last week in favor of a walkout after wage negotiations with management fell through. The latest development comes amid broader calls for performance-based bonuses and profit sharing in Korean companies, sparked by the recent labor-management dispute at Samsung Electronics. Kakao's union is reportedly seeking to include restricted stock unit grants, a form of equity compensation from the company, in the official performance-based incentive pool.

May 27, 2026By Yonhap
Kakao's labor, management to engage in 2nd mediation talks as strike looms
Companies

Samsung Electronics bonus agreement approved, strike averted

More than 70 percent of Samsung Electronics’ labor union members on Wednesday approved a tentative wage agreement reached between union leaders and management, bringing a monthslong dispute over performance bonuses to a close, at least for now. According to the unions, 55,333 of the 57,332 eligible members of the Samsung Electronics Labor Union (SELU) participated in the vote, with 44,606 voting in favor of the agreement, for an approval rate of 80.6 percent. At the National Samsung Electronics Union (NSEU), 7,283 out of 8,261 members voted, with 1,536 approving the agreement, translating to an approval rate of 21.1 percent. The combined approval rate stood at 73.7 percent, surpassing the majority threshold required for ratification. The tentative agreement was signed on May 20, just hours before the unions were set to stage a general strike the following day. Voting on the agreement was conducted from May 22-27. “Though there were some disappointments during the wage negotiations, I believe labor and management reached a meaningful agreement after continuing dialogue and discussion

May 27, 2026By Nam Hyun-woo
Samsung Electronics bonus agreement approved, strike averted
Companies

Samsung to allow employees to use outside AI models starting June

Samsung Electronics will allow its employees to use generative artificial intelligence (AI) models developed by other companies, such as ChatGPT, starting next month, according to an internal memo Tuesday. The tech giant plans to officially launch an external generative AI service sometime in June targeting its employees in the device experience (DX) division, representing the company's display, mobile and home appliance businesses, the notice said. Samsung is also reportedly pushing to open a live-in training course to teach AI utilization sometime in the second half, with around 2,000 of executives from Samsung Electronics and its major affiliates expected to attend, industry insiders said. Previously, employees at Samsung were only allowed to use its internal AI model, Samsung Gauss, due to security concerns. Employees will have to receive security training to receive access to outside AI models, according to company officials. Usage of external AI models will remain limited at the company's semiconductor, or device solutions (DS) division, company officials added. The policy change co

May 26, 2026By Yonhap
Samsung to allow employees to use outside AI models starting June
Companies

Cosmax breaks down K-beauty at New York Suppliers’ Day

Cosmetic original design manufacturer Cosmax highlighted latest cosmetic technologies and market trends at a global forum in New York, where a special session was dedicated to K-beauty and its worldwide boom. This year’s New York Society of Cosmetic Chemists (NYSCC) Suppliers’ Day, held May 19-20, dedicated a session to examining technologies and principles developed by Korean companies. Cosmax said Tuesday that two of its officials took part in the large-scale program titled “Next Generation K-Beauty Trend.” The NYSCC said the session was aimed at highlighting a “global phenomenon in which the popularity of K-beauty has evolved beyond a passing trend into a global movement.” Cosmax officials and other experts at the forum pointed to “K-skincare philosophy” as a key reason for K-beauty’s global success. They analyzed that an approach prioritizing “prevention” and “skin-first” health has resonated with global consumers via social media, driving the continuous growth and global expansion of Korean beauty products. They added that while the skin care market previou

May 26, 2026By Ko Dong-hwan
Cosmax breaks down K-beauty at New York Suppliers’ Day
Companies

Dispute deepens between Samsung Electronics labor unions

The dispute between labor unions at Samsung Electronics is deepening over a tentative wage agreement reached between management and a semiconductor union last week, with employees from the company’s device division seeking a court injunction to block the agreement from being approved through an ongoing vote. With more than 90 percent of eligible employees having voted as of 10 a.m. Tuesday, 24 hours before the voting closes, the agreement, which allows large bonuses only for the company’s chip division employees, appears likely to pass, given that semiconductor employees account for the majority of voters. However, the outcome of the injunction request could still become a variable. Samsung Electronics Company Union (SECU), the company’s third-largest labor union, filed the injunction request with Suwon District Court on Tuesday, asking the court to halt the voting process. The majority of SECU members are from the company’s Device Experience (DX) division, which covers mobile, home appliance and other network devices. “The representative union turned a blind eye to the equali

May 26, 2026By Nam Hyun-woo
Dispute deepens between Samsung Electronics labor unions
Business

Samsung labor settlement reveals Korea’s new industrial strategy

The tentative agreement signed between Samsung Electronics management and its labor union coalition on Wednesday night averted an unprecedented 18-day general walkout through a state-engineered compromise. Crucially, it also marks the birth of a new corporate-political playbook in Korea, where state pressure and minority shareholder litigation are combined to neutralize union leverage in vital hi-tech sectors. This settlement represents a significant departure from standard collective bargaining outcomes. By transforming the financial architecture of the bonus pool from immediate cash allocations to equity-linked instruments with multi-year vesting locks, the compromise established a precedent for managing labor actions within Korea’s strategically vital export industries, which introduces corporate governance frameworks as a structural counterweight to union demands. Strategy of deterrence The Lee Jae Myung administration’s approach to the dispute exposed the sharp tension between its public emphasis on labor-management coexistence and the state’s reduced tolerance for operational

May 26, 2026By Korea Pro
Samsung labor settlement reveals Korea’s new industrial strategy
Companies

Lotte ties retail, hotels, cinemas into one digital pass in ambitious online push

Lotte Department Store is bundling shopping, travel, dining and entertainment into a single online campaign, a move that underscores how Korea’s retail conglomerates are increasingly blurring the lines between commerce and lifestyle platforms. The company said Tuesday that it will run a groupwide promotion called “L.Pass” on its app, Lotte Department Store Mall, from May 28 to June 7, bringing together seven affiliates across the Lotte Group. Participating companies include Lotte Department Store, Lotte Duty Free, Lotte Hotels, Lotte World, Lotte Cinema, Lotte Mart and Lotte GRS, creating what the company described as a unified “omnichannel” experience spanning retail and leisure. At the center of the campaign is a digital funnel that directs users from a single landing page into each affiliate’s promotional offers, designed to encourage cross-platform engagement within the Lotte ecosystem. Customers who enter the L.Pass interface are prompted to select one of the seven affiliates, unlocking targeted discounts and benefits tied to that business unit. On the app, the company is

May 26, 2026By Lee Kyung-min
Lotte ties retail, hotels, cinemas into one digital pass in ambitious online push
Companies

Samsung Electronics brings AI heat pumps to major residential projects across Poland

Samsung Electronics is moving deeper into Europe’s low-carbon housing market, supplying artificial intelligence (AI)-enabled heat pump systems and integrated building management software to a large-scale residential development spanning four Polish cities. The company said Tuesday that it will provide high-efficiency heat pump solutions and its SmartThings Pro platform to a multifamily housing project led by Polish energy provider Ekopark. The development covers about 2.5 million square meters and includes roughly 370 residential buildings across Białystok, Przeworsk, Nakło and Bielsk Podlaski, all in eastern and southeastern Poland. Samsung said the deployment reflects rising European demand for electrified heating systems as governments tighten emissions targets and expand subsidies for low-carbon technologies. The company will supply its DVM S2 outdoor heat pump units, which include an “Active AI” function designed to learn from real-time environmental conditions and optimize energy use. The system is paired with DVM Hydro Unit indoor modules that can deliver hot water and heat

May 26, 2026By Lee Kyung-min
Samsung Electronics brings AI heat pumps to major residential projects across Poland
Companies

Hyundai Rotem wins 2 state-backed R&D projects for AI robotics

Hyundai Rotem has secured two state-backed research and development projects aimed at advancing unmanned robot technologies powered by physical artificial intelligence (AI), as it works to strengthen future battlefield capabilities. The company said Tuesday it has been selected to lead two national initiatives. The first, commissioned by the Ministry of Trade, Industry and Resources, focuses on developing an integrated control system for multiple types of robots that can be operated using natural-language commands. The second, commissioned by the Agency for Defense Development (ADD), involves building a physical AI-based simulator and a modular robotic platform. The industry ministry-led project aims to create software that allows operators to control different unmanned robots through spoken or written instructions. Today, unmanned systems are usually operated one by one using remote controls or manually input commands. The new system is designed to let a few operators manage several different platforms at once. Hyundai Rotem plans to apply the technology to its HR-Sherpa unmanned groun

May 26, 2026By Nam Hyun-woo
Hyundai Rotem wins 2 state-backed R&D projects for AI robotics
previous page
3233343536
next page

Most Read in Business