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  • Companies

    Will Homeplus liquidation decision be postponed again?

    Homeplus has submitted an amended rehabilitation plan just three days before a court deadline, but its failure to secure a crucial 200 billion won ($129 million) capital injection is increasing uncertainty over whether the troubled retailer will face liquidation, industry sources said Wednesday. The Seoul Bankruptcy Court will now assess the feasibility of the revised proposal to determine whether to continue with rescue proceedings or dissolve the company. Although the current deadline expires this Friday, expectations are rising that the court will defer the date once more to review the new submission. The country’s second-largest retail chain, controlled by private equity firm MBK Partners, filed for corporate rehabilitation on March 4 last year after struggling with financial difficulties and facing credit rating downgrades. The original deadline for court approval of its rehabilitation plan was March 4 this year, but the court first extended it to May 4 before granting an additional extension until this Friday. Bankruptcy law dictates that a rehabilitation scheme must receive appr

    3 MIN READBy Jun Ji-hye
    Will Homeplus liquidation decision be postponed again?
  • Tech & Science

    SK hynix finishes filing for US depositary share offering

    2 MIN READBy Nam Hyun-woo
    SK hynix finishes filing for US depositary share offering
  • Companies

    Renault Korea's June sales plunge 45 % on weak demand

    1 MIN READBy Yonhap
    Renault Korea's June sales plunge 45 % on weak demand
  • Companies

    GM Korea's June sales rise 6.6% on robust overseas demand

    1 MIN READBy Yonhap
    GM Korea's June sales rise 6.6% on robust overseas demand
  • Companies

    Hyundai Motor's global sales down in June on weaker demand

    1 MIN READBy Yonhap
    Hyundai Motor's global sales down in June on weaker demand
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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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Banking & Finance

Meritz’s bungled online stock trading adds to security concerns

Meritz Securities had suffered a technical problem in brokering U.S. stock trade, adding to concerns over repeated system failures reported in the domestic securities sector, according to industry officials, Wednesday. The brokerage arm of Meritz Financial Group had trouble taking online orders from customers to buy and sell stocks on the U.S. market right after the market opened at 10:30 p.m. Tuesday (KST). The company worked on troubleshooting and the service was normalized about an hour later. “The problem has been full resolved and orders for U.S. stock trade are being processed normally,” Meritz Securities said. “We deeply apologize for any inconvenience caused, and will take compensational measures promptly for customers who are affected by malfunction of the service." Despite its apology, industry officials expressed concerns in light of similar incidents recently. They cited a need for a comprehensive check-up on the online trading system across the domestic securities companies. “Such a check-up may be especially crucial at a time when more investors are trading shares on

May 7, 2025By Yi Whan-woo
Meritz’s bungled online stock trading adds to security concerns
Companies

BAT Rothmans launches Global Editions by Dunhill in Korea as int'l debut

BAT Rothmans announced, Wednesday, the global launch of its new cigarette line, Global Editions by Dunhill, with Korea selected as the first market for its debut. The launch marks the first-ever sub-brand under the prestigious Dunhill label and introduces three unique editions inspired by iconic travel destinations: New York, Paris and London. Crafted with the lifestyle and tastes of Korean consumers in mind, Global Editions by Dunhill is designed around the concept of escapism — the desire to break away momentarily from everyday life. The brand aims to capture the joy of travel and adventure, offering consumers a brief sensory escape from their daily routines. A key focus of the launch is the product’s distinctive packaging, which reflects Korea’s sophisticated visual culture. BAT Rothmans developed the design through a "Hot Housing" process, involving collaboration between Korean creatives — including art directors, graphic designers and 3D artists — and the brand’s in-house team. The result is a vibrant, refined design that stands out from conventional cigarette packagin

May 7, 2025By Ko Dong-hwan
BAT Rothmans launches Global Editions by Dunhill in Korea as int'l debut
Business

Multiple foreign energy firms show interest in Korea's deep-sea gas project: sources

Multiple foreign oil majors have shown interest in participating in Korea's deep-sea gas field development project, industry sources said Wednesday. At least two companies, whose identities were withheld, have reviewed the exploration data of potential oil and gas reserves in the East Sea being provided by the Korea National Oil Corporation (KNOC), according to the sources familiar with the matter. The KNOC issued a bid invitation for the project in March, allowing interested parties to access data from the first exploratory drilling of the potential reserves, as well as seismic and geological data. Foreign companies can apply to acquire up to a 49 percent stake in the project by June 20 to become a partner of KNOC, which will have a majority stake in the project. The KNOC plans to select a preferred bidder among foreign applicants in early July. The Korean government announced the discovery of seven potential oil and gas reserves in the East Sea off the coast of Yeongil Bay in Pohang, about 270 kilometers southeast of Seoul, last year. Among the seven reserves, the biggest prospects, name

May 7, 2025By Yonhap
Multiple foreign energy firms show interest in Korea's deep-sea gas project: sources
Companies

Samsung Electronics acquires premium audio brands from Masimo

Samsung Electronics’ audio subsidiary Harman International will acquire the audio business of U.S.-based Masimo, which operates premium audio brands including Bowers & Wilkins (B&W), marking the Korean company's first high-profile acquisition in nine years. According to Samsung, Harman has signed a sales and purchase agreement with Masimo to take over the latter’s audio division at 500 billion won ($350 million). Harman plans to complete the acquisition by the end of the year. Under the deal, Masimo’s audio brands including B&W, Denon, Marantz, Polk Audio and Definitive Technology will join Harman's existing portfolio. Masimo is an American health technology and consumer electronics company, which acquired the aforementioned brands by taking over Sound United in 2022 for $1 billion. B&W is a British brand found in 1966, renowned for its distinctive design and sound quality as seen in products such as the Nautilus and Zeppelin speakers. In recent years, it is expanded its consumer base with Px series noise-canceling wireless headphones. Denon is a 115-year-old brand known as the inv

May 7, 2025By Nam Hyun-woo
Samsung Electronics acquires premium audio brands from Masimo
Others

REPORTER'S NOTEBOOK Prague's last-minute delay comes as little surprise

"I knew it" was this reporter's response to late Tuesday's push notification of the news that a Czech court had blocked Prague from signing a multibillion-dollar nuclear reactor construction deal with Seoul the following day. This reaction did not stem from the frequently cited concerns about the deal, such as its profitability or uncertainty surrounding governmental negotiations after Seoul's leadership vacuum following the impeachment of former President Yoon Suk Yeol and the resignations of two acting presidents — former Prime Minister Han Duck-soo and former Finance Minister Choi Sang-mok. While the news embarrassed the Korean delegation to the Czech Republic — which includes two ministers, four vice ministers and five lawmakers from three parties — this reporter was reminded of an episode involving a senior Czech government official who canceled an appointment with Korean reporters at the last minute. In the early morning on Feb. 18, when this reporter was en route to interview Czech Industry and Trade Minister Lukas Vlcek in Seoul, the Czech Embassy notified The Korea Times

May 7, 2025By Park Jae-hyuk
[REPORTER'S NOTEBOOK] Prague's last-minute delay comes as little surprise
Tech & Science

Will Korean firms' free ad-supported streaming TV biz rival global services?

For the past few years, streaming services have dominated the media content industry, as the COVID-19 pandemic drew homebound viewers across the world into subscriptions. However, as the bygone peak of the streaming boom fades, viewers grow increasingly fatigued with mounting subscription fees and complex options, prompting the industry to turn its eyes on free ad-supported streaming TV (FAST) services, which offer content for free in exchange for ads. Coupled with stagnation in the conventional internet protocol TV (IPTV) business, internet providers including SK Broadband, KT and LG Uplus are placing big bets on FAST as an alternative, positioning it as the next wave in digital media with ambitions to expand both locally and globally. According to a Korea Communications Commission report in March, the number of subscribers for paid broadcasting services, including IPTV and cable TV, stood at 36.29 million in 2023, while their combined revenue was about 7.23 trillion won ($52.35 billion). This represented 0.01 percent and 0.4 percent growth compared to the previous year, respectively. A

May 7, 2025By Lee Gyu-lee
Will Korean firms' free ad-supported streaming TV biz rival global services?
Banking & Finance

Brokerages launch marketing blitz on YouTube to attract investors

Securities firms are intensifying marketing campaigns on YouTube by using all the creative means they can think of, in a bid to attract a wider range of investors and survive intensifying competition, according to industry officials, Wednesday. Some companies are capitalizing on the global boom of Korean pop culture. Samsung Securities created a music video, while Mirae Asset Securities produced a multi-part drama series. For NH Investment & Securities, it came up with a talk show featuring TV celebrity Jung Hyuk as a regular guest to share investment strategies. These companies and others also give out prizes like coffee coupons, movie tickets and gift cards — all for free — in their livestreamed lectures. “Marketing appears to be heating up in the brokerage sector, as brand awareness is becoming crucial in the industry with its widening wealth gap between bigger and smaller firms,” said Jung Eui-jung, head of the Korean Stockholders’ Alliance, which advocates for retail shareholders’ rights. “The bigger players try to enhance their brand image while the smaller ones are de

May 7, 2025By Yi Whan-woo
Brokerages launch marketing blitz on YouTube to attract investors
Others

Asan Institute chair awarded honorary doctorate from Korea University

Korea University has awarded an honorary doctorate in political science to Chung Mong-joon, founder and honorary chairman of the Asan Institute for Policy Studies. The university held a ceremony Monday at its Seoul campus to award the degree in recognition of Chung's contributions to social welfare and his efforts to support younger generations through the Asan Foundation and the Asan Nanum Foundation. The honorary doctorate also acknowledges Chung’s dedication to advancing political, diplomatic and national security affairs during his seven terms as a lawmaker. "Chairman Chung has shed light on Korea’s future in various fields including politics and diplomacy," Korea University President Kim Dong-one said. “His life and footsteps embody leadership with values of intellectualism and public service, which deeply align with Korea University's vision to contribute to the future of humanity. The chairman's future endeavors will continue to lead positive changes for our society and the world." Chung studied economics at Seoul National University as an undergraduate and earned a Master o

May 7, 2025By Lee Gyu-lee
Asan Institute chair awarded honorary doctorate from Korea University
Companies

Coupang's $7.9 bil. Q1 sales set record

Coupang reported a record-breaking performance in the first quarter, with sales reaching 11.5 trillion won, according to its filing with the U.S. Securities and Exchange Commission. Based on the average exchange rate for the quarter of 1,452.66 won per dollar, the figure translates to $7.9 billion. Quarterly sales rose 21 percent compared to the same period last year. The New York Stock Exchange-listed company also recorded earnings of 233.7 billion won during the quarter, marking a 300 percent increase from a year earlier. The performance came after Korea's e-commerce platform giant saw its number of active users increase by 9 percent to 23.4 million from the previous year’s 21.5 million. The users include consumers who used the company’s product commerce channels, including Rocket Delivery and Rocket Fresh, and platform sellers who used channels like Rocket Growth and Marketplace. Product commerce alone posted sales of 10 trillion won in the first quarter, a 16 percent jump from previous year. Per user, the sector saw sales of 427,000 won, a year-on-year increase of 6 percent. Coupan

May 7, 2025By Ko Dong-hwan
Coupang's $7.9 bil. Q1 sales set record
Companies

Regulator orders TMON, WeMakePrice to rectify handling of refund requests

The antitrust regulator said Wednesday it has ordered two local e-commerce platforms, TMON and WeMakePrice, to address their failure to make refunds or repayments to consumers amid a liquidity crisis last year. The Fair Trade Commission (FTC) issued correction orders for the companies, saying they have violated the Act on the Consumer Protection in Electronic Commerce. TMON failed to return approximately 67.5 billion won ($48.3 million) to its customers within the legally required three business days, despite refund requests, from December 2023 to July 2024, according to the FTC. WeMakePrice is accused of failing to process 2.3 billion won worth of refund requests within three business days between March and July last year. The two platforms were at the center of a massive payment delay scandal last year, sparked by liquidity problems of its parent company based in Singapore, Qoo10. They are currently undergoing court-led rehabilitation processes after filing for court receivership last year. On top of the correction orders, the FTC also issued a directive requiring the companies to submit

May 7, 2025By Yonhap
Regulator orders TMON, WeMakePrice to rectify handling of refund requests
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