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  • Companies

    Doosan on track for growth as portfolio aligns with AI industry

    Doosan Group is expected to post strong growth as its key businesses are increasingly aligned with the core supply chain of the artificial intelligence (AI) industry. According to market tracker FnGuide, the consensus estimate among brokerages for Doosan Corp.'s second-quarter earnings is 5.5 trillion won ($3.62 billion) in sales and 465 billion won in operating profit, up 3 percent and 30 percent year-on-year, respectively. Doosan Corp. is the holding company of the conglomerate but is gaining market attention with its own electromaterials business, which supplies copper clad laminates (CCL) to chipmakers. CCL is a key material used in advanced chip substrates and printed circuit boards found in virtually all electronic devices. As AI servers and high-performance computing systems require fast processing of massive amounts of data, demand is growing for high-frequency, low-loss CCLs. In the first quarter of this year, the business group’s sales reached 617.3 billion won, growing 53.2 percent year-on-year to set a new record. Operating profit soared 59.9 percent year-on-year to stand a

    2 MIN READBy Nam Hyun-woo
    Doosan on track for growth as portfolio aligns with AI industry
  • Business

    Global memory chip market to quadruple in 2026: data

    1 MIN READBy Yonhap
    Global memory chip market to quadruple in 2026: data
  • Companies

    BioTNS selected as host of gov't's ultra-precision digital PCR project

    2 MIN READBy Nam Hyun-woo
    BioTNS selected as host of gov't's ultra-precision digital PCR project
  • Companies

    Hyundai Rotem secures $487.3 mil. railway maintenance project in Morocco

    1 MIN READBy Yonhap
    Hyundai Rotem secures $487.3 mil. railway maintenance project in Morocco
  • Banking & Finance

    Card issuers turn to small-business lending as consumer loan curbs squeeze growth

    2 MIN READBy Park Han-sol
    Card issuers turn to small-business lending as consumer loan curbs squeeze growth
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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

Samsung chip division head warns against complacency amid looming major strike

Samsung Electronics Vice Chairman and Chief Executive Officer (CEO) Jun Young-hyun, who heads the company's semiconductor division, called on top management officials to stay vigilant amid a looming labor strike, warning against complacency, industry sources said Friday. During a recent management briefing session, Jun urged executives not to become complacent amid the current chip market boom, saying the industry upcycle should be viewed as "the last golden opportunity" to restore the company's fundamental competitiveness. "The time is not for complacency," he was quoted by the sources as saying, emphasizing the need to regain technological competitiveness. The remarks came as the world's largest memory chipmaker reported a net profit of 47.22 trillion won (US$31.8 billion) in the first quarter, more than five times higher than a year earlier, driven by strong demand for high-end memory chips used in artificial intelligence (AI) applications. The comments also came as the union warned of a major strike next Thursday, with labor and management remaining sharply divided over performance-b

May 15, 2026By Yonhap
Samsung chip division head warns against complacency amid looming major strike
Banking & Finance

More teachers turn to insurance for protection amid surge in assaults, parent complaints

As student violence against teachers and relentless parent complaints continue to make national headlines in Korea, a growing number of educators left with little practical recourse are turning to a last line of defense: insurance. According to Hana Insurance, the country’s sole provider of teacher rights protection coverage, 9,312 educators have enrolled in policies designed to guard against risks ranging from sexual harassment and physical assault to abusive complaints from students and parents. The number marks more than a sixfold increase from 2018. Although these policyholders account for just 1.8 percent of Korea’s 506,000 teachers from kindergarten to high school, the sharp rise signals that what was once a niche safeguard is steadily gaining broader relevance. Claims are rising in tandem. Paid insurance cases jumped from just eight in 2018 to 168 in 2025, with 53 claims already approved this year as of this month. The vast majority of claims — 81 percent — involved defamation, verbal abuse or refusal to comply with teachers’ disciplinary guidance. Sexual harassment and

May 15, 2026By Park Han-sol
More teachers turn to insurance for protection amid surge in assaults, parent complaints
Business

Industry minister warns of emergency arbitration if Samsung unions launch strike

Industry Minister Kim Jung-kwan said Thursday that the government may have to invoke emergency arbitration if labor unions at Samsung Electronics go ahead with a planned strike next week. The remarks came after government-led mediation talks ended without an agreement Wednesday, as labor and management remained widely divided over performance-based bonuses tied to the company's earnings from the artificial intelligence (AI)-related semiconductor business. In a post on X, formerly Twitter, Kim expressed concern over the unions' plan to launch a full-scale strike starting next Thursday and urged both sides to resume dialogue as soon as possible. "Considering the seriousness of the matter and the unimaginable ripple effects, a strike must be prevented under any circumstances," Kim said. "As industry minister, I believe emergency arbitration would be unavoidable if a strike occurs." Under labor law, the labor ministry can invoke an emergency adjustment measure that suspends strike action for up to 30 days if it is deemed likely to seriously harm the national economy or disrupt the daily live

May 14, 2026By Yonhap
Industry minister warns of emergency arbitration if Samsung unions launch strike
Business

Trade minister raises concerns over EU steel safeguards, Mexico tariffs

Trade Minister Yeo Han-koo has conveyed Seoul's concerns over the European Union (EU)'s tougher steel safeguard plan and Mexico's tariff hike during his visit to the regions, the ministry said Thursday. During a meeting with Maros Sefcovic, the EU's commissioner for trade and economic security, at the EU headquarters in Belgium on Monday (local time), Yeo addressed "deep" concerns over the EU's plan to implement stronger steel safeguard measures, according to the Ministry of Trade, Industry and Resources. The EU plans to raise tariffs on 30 steel items and reduce tariff-free quotas on foreign steel imports starting in July. Yeo called for a "prudent" approach to the issue, stressing that the EU is the second-largest importer of Korean steel, and that such measures could directly affect supply chains and Korean companies in industries such as automobiles and home appliances. The ministry said Yeo and Sefcovic agreed to continue discussions to find a "mutually beneficial" solution to the issue, recognizing that steel is a strategic industry both for Korea and the EU. From Tuesday to Wednesd

May 14, 2026By Yonhap
Trade minister raises concerns over EU steel safeguards, Mexico tariffs
Tech & Science

SK Telecom teams up with defense ministry on military AI

SK Telecom joined hands with the Ministry of National Defense to develop a defense-specific artificial intelligence (AI) model based on the telecom operator’s own foundation model. The two sides on Thursday signed a memorandum of understanding (MOU) to apply the SK Telecom consortium’s AI model, developed under the government’s national AI foundation model project, to the defense sector. Under the MOU, SK Telecom and the ministry agreed to work together to develop and test a defense-specific AI model based on the consortium’s model, while also collecting and utilizing open defense-related data and supporting graphics processing unit (GPU) use for the company. SK Telecom said the collaboration is expected to significantly improve the efficiency of administrative operations in the defense area. An AI foundation model refers to a large-scale system trained on extensive data that can be adapted for a wide range of downstream applications. The government is pushing forward the national AI foundation model project to secure AI sovereignty. Four consortiums led by SK Telecom, LG AI Res

May 14, 2026By Nam Hyun-woo
SK Telecom teams up with defense ministry on military AI
Companies

Dongwha Electrolyte secures exclusive lithium salt supply deal with Chinese producer

Dongwha Electrolyte has secured a long-term supply agreement with Chinese lithium salt producer Sunyes Zhongning New Materials Technology strengthening its access to a key battery material amid rising demand from electric vehicles and energy storage systems. The company, an electrolyte manufacturing subsidiary of Dongwha Enterprise, said Thursday that the exclusive purchasing deal covers lithium hexafluorophosphate (LiPF6), the standard electrolyte salt in commercial lithium-ion batteries. Financial terms, contract duration and volumes were not disclosed. Sunyes Zhongning specializes in manufacturing LiPF6, operating an annual capacity of about 5,000 tons, which is equivalent to supplying roughly 35,000 tons of electrolytes. With the latest agreement, Dongwha Electrolyte expects to secure critical raw materials in advance while improving its cost structure, as demand for LiPF6 continues to rise with the expansion in the energy storage system (ESS) and electric vehicle markets. “This agreement provides a foundation for supplying high-quality electrolytes to customers without disruption

May 14, 2026By Lee Gyu-lee
Dongwha Electrolyte secures exclusive lithium salt supply deal with Chinese producer
Companies

Samsung Electronics considers scaling down chip production to brace for strike impact

Samsung Electronics is bracing for the impact of its labor unions’ planned 18-day general strike, scheduled to start on May 21, activating contingency measures to minimize disruptions, including adjusting chip production processes and limiting new wafer input volumes. A potential production scale-down could also disrupt the global semiconductor supply chain, industry observers warned. According to industry officials on Thursday, the company has begun emergency management measures as the likelihood of a strike next week has increased, with the latest round of labor-management negotiations having ended without progress. The unions have rejected the possibility of further talks and reiterated their demands. Since the strike may cause large-scale production disruptions and quality issues stemming from workforce shortages in its chipmaking division, the company is considering a “warm-down” process. Chip plants typically require preemptive adjustments to production operations at least a week in advance because halting manufacturing processes midway can result in huge losses. “Unlike

May 14, 2026By Nam Hyun-woo
Samsung Electronics considers scaling down chip production to brace for strike impact
Banking & Finance

Insurers should evolve into risk management platform from post-compensation model: report

The insurance sector is evolving beyond its traditional role as a provider of post-accident compensation, repositioning itself as a more risk management platform, according to a report released Thursday. In its “Next in Insurance 2030” report, Samil PwC, Korea’s largest accounting firm by revenue, said insurers face growing structural uncertainty fueled by global pressures, including geopolitical instability and extreme climate events. In this environment, future competitiveness will depend on insurers’ ability to harness data and artificial intelligence (AI), build stronger external partnerships and fundamentally reshape how they engage with customers. Rather than relying on piecemeal adaptation, the report argues, insurers must rethink their entire value chain. PwC outlined four stages of industry transformation. The first describes insurers that maintain largely traditional business structures while making only limited, reactive improvements despite external disruption. The second stage focuses on leveraging AI and advanced data capabilities to improve operational efficiency wh

May 14, 2026By Park Han-sol
Insurers should evolve into risk management platform from post-compensation model: report
Companies

LIG Defense & Aerospace makes inroads in Europe with direct pitch to NATO

As European countries race to strengthen their air defenses amid mounting security fears, Korean arms maker LIG Defense & Aerospace is using a weapons exhibition in Romania to press its case as a new supplier to NATO allies. LIG Defense & Aerospace said Thursday that it is participating in Black Sea Defense and Aerospace (BSDA) 2026, one of Eastern Europe’s largest defense exhibitions, held in Bucharest from Wednesday through Friday, where the company is showcasing a broad lineup of missile and air defense systems aimed at expanding its foothold across Europe. The company said it plans to market Korea’s guided missile technologies and integrated air defense systems to NATO and European Union member states, building on its previous export deal with Romania for the Chiron portable surface-to-air missile system, known in Korea as Shingung. That agreement, signed in November 2023, marked the first entry of a Korean air defense system into the NATO market. LIG Defense & Aerospace said the Romanian project is being successfully completed this month, a milestone the company described as pro

May 14, 2026By Lee Kyung-min
LIG Defense & Aerospace makes inroads in Europe with direct pitch to NATO
Companies

Antitrust watchdog probes 4 petrochemical firms over alleged price-fixing

Korea's antitrust watchdog on Thursday launched on-site investigations into four major petrochemical firms over allegations of price-fixing amid growing concerns over rising consumer prices in the wake of the Middle East crisis, sources said. According to the sources, the Fair Trade Commission sent investigators to LG Chem, Hanwha Solutions, Aekyung Group and OCI to secure documents as part of the probe, which is expected to continue through Friday. The investigation follows allegations that the four companies fixed prices of polyvinyl chloride (PVC) and plasticizers, key chemical additives used in PVC production. LG Chem and Hanwha Solutions both supply PVC, while all four companies produce plasticizers. An FTC official declined to comment, saying the agency does not provide details on individual cases. The move comes as the government has stepped up efforts to stabilize consumer prices and crack down on unfair practices that could take advantage of recent supply chain disruptions caused by the Middle East crisis.

May 14, 2026By Yonhap
Antitrust watchdog probes 4 petrochemical firms over alleged price-fixing
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