my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Banking & Finance

    Toss to face stricter oversight as Korea's first fintech financial conglomerate

    Viva Republica, which operates Toss, is poised to become the first fintech company subject to the same regulatory framework as Korea's other large financial conglomerates, marking a major shift in oversight for the fast-growing platform. Originally launched as a mobile money-transfer app, Toss has since rapidly evolved into a financial platform spanning banking, brokerage and insurance. Authorities are expected to formally designate the company as a “financial conglomerate” later this month. Introduced in 2021, the system is designed to strengthen oversight of groups with multiple financial subsidiaries by requiring integrated supervision of intra-group risk and related-party transactions. Seven conglomerates — Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB and Daou Kiwoom — are currently subject to the regulations. To qualify, a group must operate across at least two of three sectors — banking, insurance and financial investment — with the smallest business holding more than 5 trillion won ($3.24 billion) in assets. Toss qualifies through Toss Bank and Toss Securitie

    2 MIN READBy Park Han-sol
    Toss to face stricter oversight as Korea's first fintech financial conglomerate
  • Companies

    Termination of Homeplus rehabilitation endangers 12,000 workers

    2 MIN READBy Ko Dong-hwan
    Termination of Homeplus rehabilitation endangers 12,000 workers
  • Business

    Conglomerates to invest $201.7 bil. in southeast for AI, SMR sectors

    2 MIN READBy Yonhap
    Conglomerates to invest $201.7 bil. in southeast for AI, SMR sectors
  • Companies

    Hanwha to invest $35.6 bil. in aerospace, AI by 2040

    2 MIN READBy Yonhap
    Hanwha to invest $35.6 bil. in aerospace, AI by 2040
  • Banking & Finance

    Korea's brokerages are raking it in. Their stocks aren't.

    2 MIN READBy Lee Yeon-woo
    Korea's brokerages are raking it in. Their stocks aren't.
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

Hanwha regains REC Silicon control in return for $6.5 million loan offer

Hanwha Group's proposal to appoint three new board members at REC Silicon, including a new chairman, was approved at an extraordinary general meeting of the Norwegian silicon materials maker's shareholders on Thursday (local time). The outcome enables the Korean conglomerate to regain control of the Norwegian firm, which it lost in June to the U.S. hedge fund Water Street Capital. At the previous meeting of REC Silicon shareholders, the U.S. hedge fund, allied with Norwegian minority shareholders, defeated Hanwha and ousted board members appointed by the Korean company. The proxy fight erupted after a group of minority shareholders objected to Hanwha's plan to acquire all outstanding shares of REC Silicon for 2.2 Norwegian krone ($0.22) per share and delist the company from the Oslo Stock Exchange. The plan followed an abrupt shutdown late last year of REC Silicon's Moses Lake plant in the United States, which also angered minority shareholders due to the resulting plunge in the company's stock price. The backlash from minority shareholders eventually left Hanwha with only a 44 percent st

Aug 8, 2025By Park Jae-hyuk
Hanwha regains REC Silicon control in return for $6.5 million loan offer
Companies

PHOTO China-free battery materials sent to US

POSCO Future M employees applaud at the company's cathode materials plant in Gwangyang, South Jeolla Province, July 26, celebrating the first shipment to the United States of cathode materials manufactured out of Korean-made precursors. The battery materials firm said Friday that it has used precursors produced at its Gwangyang plant to make cathode materials being sent to Ultium Cells, so that the joint venture between LG Energy Solution and General Motors can cope with tightening U.S. regulations on batteries containing Chinese materials. Courtesy of POSCO Future M

Aug 8, 2025By Park Jae-hyukphoto
[PHOTO] China-free battery materials sent to US
Companies

3 companies added to MSCI Korea Index; constituent number unchanged at 81

Morgan Stanley Capital International (MSCI) has added three new companies, including defense firm LIG Nex1, to its Korea Index, a key gauge of Korea's stock market, the global index provider announced Friday. The U.S.-based provider of investment research and indices added construction and robotics firm Doosan, LIG Nex1 and electric motor maker Hyosung Heavy Industries while removing the same number of companies from the list, which remains unchanged at 81, according to the company. Those removed are leading food company CJ Cheiljedang, electric components maker LG Innotek and SKC, a chemical products maker. The rebalancing will take effect Aug. 26. MSCI reviews the Korea Index every three months to reflect changes in the market capitalization of underlying securities. The index is seen as a benchmark of the Korean market, and changes to its constituents can affect the movements of passive funds tracking the index. Market watchers had expected additions to outnumber exclusions in the August review, considering that the country's stock market has been showing a strong performance compared w

Aug 8, 2025By Yonhap
3 companies added to MSCI Korea Index; constituent number unchanged at 81
Companies

Kakao denies rumors of selling Kakao Entertainment

Internet giant Kakao Corp. on Thursday denied rumors that it plans to sell its subsidiary, Kakao Entertainment Corp. “We reviewed potential changes to Kakao Entertainment's shareholder structure but have decided to discontinue the review,” the company said in a regulatory filing. “We will continue exploring various strategic options to boost Kakao Entertainment's global presence and enhance its business competitiveness,” it added. It is Kakao's first official response to months of speculations that it had informed shareholders, including Saudi Arabia's sovereign wealth fund, the Public Investment Fund, of its intention to sell management control of Kakao Entertainment. Kakao Entertainment is a key subsidiary of Kakao, engaged in web content, music and talent management businesses.

Aug 7, 2025By Yonhap
Kakao denies rumors of selling Kakao Entertainment
Tech & Science

Smilegate to publish former GTA director's next game

Smilegate, a Korean game studio known for hit titles like Crossfire and Lost Ark, will publish an open-world title developed by Absurd Ventures, the studio founded by Dan Houser, former creative director of the Grand Theft Auto (GTA) franchise. Smilegate said Thursday that it signed a deal to publish Absurd Venture’s sci-fi action-adventure game, A Better Paradise. The partnership follows Smilegate’s strategic investment in Absurd Ventures last year. Absurd Ventures was established by Houser, a co-founder of Rockstar Games and creative director of the GTA and Red Dead Redemption franchises. Their upcoming title, A Better Paradise, is drawing keen interest from gamers for its ambitious storytelling and immersive world-building. Showcasing the studio’s talent for crafting narrative worlds and characters, the audio fiction series set in the same universe, “A Better Paradise Volume One: An Aftermath,” debuted at the top of Apple’s fiction charts and won the 2024 Signal Award for Best Episode of Scripted Fiction. Absurd Ventures is also releasing a novelization of the first volume

Aug 7, 2025By Nam Hyun-woo
Smilegate to publish former GTA director's next game
Companies

APR posts record earnings in Q2

APR has posted record-breaking results for both the second quarter and the first half of 2025, reaffirming its rapid growth in the global beauty industry, industry officials said Thursday. According to APR's preliminary earnings results, its consolidated revenue and operating profit in the second quarter of 2025 reached 327.7 billion won ($237.2 million) and 84.6 billion won, respectively. Despite the second quarter typically being a slower season for the industry, these figures represent year-on-year increases of 111 percent and 202 percent, respectively. The company's stellar performance was driven by its cosmetics and beauty division, fueled by continued global demand for K-beauty products. The division recorded 227 billion won in revenue during the second quarter, tripling its figure from the same period last year. Overseas sales played a central role, accounting for 78 percent of total revenue. The U.S. emerged as APR’s largest market, outpacing even domestic revenue. Japan posted a staggering 366 percent year-on-year increase, while Europe saw a steady rise in order volume. Buoyed

Aug 7, 2025By Lee Yeon-woo
APR posts record earnings in Q2
Companies

BAT Rothmans launches recruitment drive

BAT Rothmans, the Korean affiliate of global tobacco giant British American Tobacco (BAT), announced Thursday that it has opened applications for entry-level positions and begun recruitment for the second half of 2025. The company is hiring for three departments. Its Seoul headquarters will be hiring people in finance, while its Sacheon manufacturing plant in South Gyeongsang Province is looking for people to work in production management and finance. University seniors and recent graduates with less than two years of work experience and a bachelor's degree or higher are eligible to apply. Applications are open through Sept. 30 via the BAT Rothmans recruitment website. The hiring process consists of a document review and phone interview, followed by three rounds of in-person interviews: an initial interview, a competency-based assessment and a final interview with senior executives. Successful candidates are expected to begin in December. Selected candidates will also have the opportunity to join BAT Group’s Global Graduate Program (GGP), a leadership development initiative designed to

Aug 7, 2025By Ko Dong-hwan
BAT Rothmans launches recruitment drive
Tech & Science

Samsung chip biz rebounds with foundry orders from Apple, Tesla

Samsung Electronics’ foundry business is showing signs of a quick recovery from its protracted losses, as it added Apple to its list of foundry clients on Thursday after signing a sizeable chip supply deal with Tesla last week. The back-to-back deals have eased market concerns over the sluggish utilization rates at Samsung’s semiconductor plants in Texas. With volume production of the newly ordered chips set to begin next year, Samsung’s foundry competitiveness is expected to strengthen further, helping the tech giant recover from a slowdown in profitability. Upon announcing its $600 billion investment plan into the United States, Apple said in a press release Thursday that Samsung will supply chips from its production plant in Austin, Texas, for Apple products, including iPhones. “Apple is also working with Samsung at its fab in Austin, Texas, to launch an innovative new technology for making chips, which has never been used before anywhere in the world,” the release read. “This facility will supply chips that optimize power and performance of Apple products, including iPho

Aug 7, 2025By Nam Hyun-woo
Samsung chip biz rebounds with foundry orders from Apple, Tesla
Tech & Science

Korea to refine trade strategy as protectionism becomes 'new normal': minister

Korea will fine-tune its trade strategy as global trade protectionism is becoming a "new normal," the trade minister said Thursday, noting that uncertainties stemming from the United States' tariff scheme continue to linger despite the countries' bilateral trade agreement. "We overcame a major hurdle last week by striking a tariff deal with the U.S., but the (trade) situation still remains uncertain," Trade Minister Yeo Han-koo said in a meeting on the country's trade strategy. "The protectionist policies have become the new normal in the global trade environment, with major economies using their market and technologies as weapons," he added. "The government will newly review its trade strategy in response to the recent trend." The minister said the government will also work to swiftly implement support measures for sectors vulnerable to U.S. tariffs and devise a long-term strategy to boost the fundamental competitiveness of domestic industries, such as the diversification of their trade networks. Washington agreed to lower its reciprocal tariff rate for Korea to 15 percent from the init

Aug 7, 2025By Yonhap
Korea to refine trade strategy as protectionism becomes 'new normal': minister
Companies

Hankook Tire supplies tires for Tesla’s Model Y Juniper

Hankook Tire has supplied its high-performance tires for Tesla’s refreshed Model Y SUV, codenamed Juniper, cementing its position as a top-tier global tiremaker for electric vehicles (EVs), the company said Thursday. The Korean tire manufacturer provides Tesla with its iON evo AS SUV and Ventus S1 evo3 ev tires, both specifically designed for EVs. The latest deal is expected to fortify Hankook Tire’s presence in the global EV industry. Tires for EVs are generally considered more lucrative products for tiremakers because they are more expensive and their lifespan is shorter than tires for vehicles with internal combustion engines. Hankook Tire’s iON evo AS SUV is one of its cutting-edge EV tire products, providing an optimal balance of low rolling resistance, extended mileage and quiet ride quality. The features are crucial to supporting the dynamic capabilities of high-performance electric SUVs, according to Hankook Tire. The tire also comes with a noise-reducing tread pattern, which helps significantly lower road noise. The Ventus S1 evo3 ev is engineered to deliver robust stabilit

Aug 7, 2025By Lee Min-hyung
Hankook Tire supplies tires for Tesla’s Model Y Juniper
previous page
392393394395396
next page

Most Read in Business