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    Watchdog launches review on Google's alleged fair trade violation

    Seoul's antitrust watchdog said Wednesday it has launched an investigation into U.S.-based Google LLC, as well as its Singaporean and Korean offices, over allegations of violations of the fair trade law involving game developers on its app marketplace. The Fair Trade Commission (FTC) said its examiners' report showed Google has abused its dominance in the Android marketplace, with related sales totaling $9.21 billion. Under the law, the watchdog may impose a fine of up to 6 percent of the amount following its deliberations. This indicates the fine may reach up to 849.6 billion won ($547.3 million). The FTC said Google signed the Games Velocity Program (GVP) agreements with major game developers at home and abroad to prevent their potential departure from its app marketplace. The program centers on subsidizing game developers' costs for using Google services, such as Google Cloud and advertising, on the condition that they give Google most favorable treatment compared to other app marketplaces, including earlier release dates. The FTC said its examiners had concluded that the agreements ha

    2 MIN READBy Yonhap
    Watchdog launches review on Google's alleged fair trade violation
  • Companies

    Debate over sharing 'excessive profits' weighs on chipmakers

    3 MIN READBy Nam Hyun-woo
    Debate over sharing 'excessive profits' weighs on chipmakers
  • Companies

    Petrochemical overhaul faces renewed urgency as margins slide again

    2 MIN READBy Lee Gyu-lee
    Petrochemical overhaul faces renewed urgency as margins slide again
  • Banking & Finance

    Woori relocates microcredit bank to better support small businesses

    2 MIN READBy Lee Hyo-jin
    Woori relocates microcredit bank to better support small businesses
  • Banking & Finance

    Major banks' household loan grows sharpest in 11 months in June

    1 MIN READBy Yonhap
    Major banks' household loan grows sharpest in 11 months in June
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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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Tech & Science

Chinese TV makers face class action suits in US amid growing scrutiny of QLED TV claims

Doubts over Chinese makers’ quantum dot LED (QLED) TVs are growing in the United States, as customers in Illinois recently filed a class action lawsuit against Hisense for alleged false advertising of its QLED TVs — following similar cases in California and New York. According to a complaint filed with the United States District Court for the Northern District of Illinois on April 10, Kalp Khamesra, a Chicago resident, on behalf of similarly situated others, sued Hisense USA for violating Illinois’ consumer fraud statute and negligent misrepresentation. In the filing, the complaint accused Hisense of deceiving consumers by marketing certain models — including the QD5, QD6, QD65, QD7, U7 and U7N series — as QLED TVs despite having been long “aware that its QLED TVs do not have the advertised QLED technology.” The complaint argued that Hisense’s televisions either failed to have QLED technology or had QLED technology present in “such negligible amounts that it does not meaningfully contribute to the performance” as advertised. It continued that the quantum dot technolo

Apr 28, 2025By Nam Hyun-woo
Chinese TV makers face class action suits in US amid growing scrutiny of QLED TV claims
Companies

Hyundai E&C leads construction exports with $146 bil. in 2 years

Hyundai E&C outpaced other major Korean construction firms, securing bids for overseas infrastructure projects totaling $146.2 billion over the past two years, according to the Ministry of Land, Infrastructure and Transport on Monday. The achievement by the construction arm of Hyundai Motor Group surpassed the distant runner-up, Samsung C&T, by $53.6 billion. Hyundai E&C is set to win a gold plaque at the biannual awards ceremony hosted by International Contractors Association Korea, scheduled for Tuesday, an event the ministry sponsors. According to the government, Hyundai E&C has participated in four of the top 10 largest construction projects outside Korea in the country’s history. These include the Pattani-Narathiwat Expressway in Thailand, completed in 1968 — the first overseas project by a Korean construction firm; the Jubail Industrial Port in Saudi Arabia, completed in 1980; the South Pars Gas Field in Iran, completed in 2013; and the Barakah Nuclear Plant in the United Arab Emirates (UAE), completed in 2020. Nov. 1, the day the company secured the Thai expressway project, w

Apr 28, 2025By Ko Dong-hwan
Hyundai E&C leads construction exports with $146 bil. in 2 years
Companies

Hanwha Aerospace seeks RSF role, boasts 45 years of expertise

Hanwha Aerospace is positioning itself as a key contender in the U.S. Department of Defense’s Regional Sustainment Framework (RSF) pilot program. The company is leveraging over four decades of experience in aircraft engine production and overhaul alongside a growing smart maintenance infrastructure in the Indo-Pacific. Launched in May 2024, the RSF initiative aims to address the increasing logistical challenges faced by the global defense sector. Its goal is to establish close proximity maintenance hubs in partner nations to improve sustainment capabilities. The Indo-Pacific region is the program’s first focus, with Korea selected as one of five pilot countries, alongside Japan, Australia, the Philippines and Singapore. Hanwha Aerospace aims to participate in the RSF’s Pathway Projects, which test new sustainment capabilities, specifically in depot-level engine overhauls and complex component repairs. The company plans to capitalize on its expertise with F404 and F414 engines — widely used in U.S. and allied fleets — as a key asset in supporting the RSF’s objectives. Since e

Apr 28, 2025By Park Jae-hyuk
Hanwha Aerospace seeks RSF role, boasts 45 years of expertise
Companies

Innocean wins award for short film 'Night Fishing'

Innocean, an advertising affiliate under Hyundai Motor Group, has won a major award from the Spikes Asia 2025 for driving content innovation in a short film — "Night Fishing." The thriller was co-produced by Hyundai Motor and Innocean. The Grand Prix award was given to Innocean in recognition of the firm’s creative role in the innovative 13-minute movie. The film was unveiled last year and drew attention for its unique format. It is a mystery thriller that unfolds near an electric vehicle charging station. Actor Son Suk-ku stars in the movie. "Night Fishing" comes with an unusual production format, as it was filmed from the viewpoint of a vehicle. The movie also marks a fresh direction in brand communication, according to Innocean. The company played a crucial role in harmonizing the work's commercial and artistic values and helped Hyundai Motor maximize its advertising through the release of the film. “We are pleased to have received the top-tier award from the most prestigious advertising event in the Asia-Pacific region,” Innocean CEO Lee Yong-woo said. “Innocean will continu

Apr 28, 2025By Lee Min-hyung
Innocean wins award for short film 'Night Fishing'
Companies

Hanjin, LS join forces amid conflicts with Hoban

The proverb "the enemy of my enemy is my friend" may describe the unexpected alliance between two opponents of Hoban Group — Hanjin Group, better known as the parent company of Korean Air, and LS Group, which specializes in cables, power equipment, metal and machinery. Amid their ongoing disputes with the construction-to-media conglomerate, Hanjin and LS announced Monday that they signed a memorandum of understanding for the mutual growth and interests of their respective shareholders. Hoban Construction, the group's flagship construction unit, has emerged as an antagonist of Hanjin Group Chairman Cho Won-tae following its acquisition of shares in Hanjin KAL — the group's holding firm — from KCGI and Pan Ocean. KCGI is an asset management company that backed Cho's younger sister, former Korean Air Vice President Cho Hyun-ah, also known by her English name Heather, when she attempted in 2020 to wrest control of the group from her brother. As the second-largest shareholder of Hanjin KAL with a 17.9 percent stake, the construction firm rejected a proposal at last month's shareholders

Apr 28, 2025By Park Jae-hyuk
Hanjin, LS join forces amid conflicts with Hoban
Tech & Science

Dyson's new Airwrap styler makes global debut in Korea

Dyson on Monday launched the latest edition of its Airwrap styler in the Korean market, marking its global debut. The new model offers faster, easier hair styling with greater versatility and double the air pressure of its predecessor. During a launching event in Seoul, Dyson Korea showcased the new Dyson Airwrap Co-anda 2x (Airwrap 2x), an upgraded version of the company’s mega-hit hair styler and dryer, the Airwrap, which debuted in 2018. “We always start with the problem to solve, and with our Dyson Airwrap Co-anda 2x, we wanted to make sure that we were pushing the brink of innovation and offering the opportunity for high performance and supercharged energy through our machine,” Dyson Beauty Global President Kathleen Pierce said during the event. The Airwrap 2x distinguishes itself from its predecessor with its new Hyperdymium 2 motor, which the company said delivers twice the air pressure to wrap hair more easily and dries hair as fast as a full-performance hair dryer. To achieve this, the company said it reengineered the motor from the ground and developed the company’s fas

Apr 28, 2025By Nam Hyun-woo
Dyson's new Airwrap styler makes global debut in Korea
Companies

LS Cable's unit wins submarine power cable deal in Taiwan

LS Cable & System, Korea's biggest cable company, said Monday its unit has received a 22.7 billion-won ($15.8 million) submarine power cable deal in Taiwan. LS Marine Solution will install submarine power cables for Taiwan Power Company's (TPC) offshore wind power plant by May 2026, the company said in a press release. The deal is part of the Taiwanese government's 2.5 trillion-won project to develop facilities capable of generating a total of 20.6 gigawatts of wind power by 2035, it said. It is the first overseas submarine power cable deal won by LS Marine Solution. The company expects the Taiwan project will lead to more opportunities to secure similar deals in global markets. LS Cable acquired the undersea communication cable-focused company from KT Corp. in 2023. It currently owns a 66.75 percent stake in LS Marine Solution.

Apr 28, 2025By Yonhap
LS Cable's unit wins submarine power cable deal in Taiwan
Tech & Science

LG CNS posts record Q1 sales fueled by strong AI biz demand

LG CNS posted its largest first-quarter earnings this year, driven by brisk sales in its artificial intelligence (AI) transformation business. The IT services firm announced Monday that it recorded sales of 1.21 trillion won ($841.1 million) and an operating profit of 78.9 billion won in the January to March period, marking year-on-year increases of 13.2 percent and 144.3 percent, respectively. This also marks the eighth consecutive year of sales growth in the first quarter for the company. LG CNS attributed the record-breaking performance to the continued expansion of its AI transformation services — particularly in the cloud computing and AI sectors. Revenue from its cloud and AI transformation businesses reached 717.4 billion won in the first quarter, up 30.1 percent from the same period last year. These sectors accounted for 59 percent of total sales, cementing their role as the company’s primary growth engine. LG CNS said its AI service business showed significant growth in the finance and manufacturing sectors. Currently, the company is carrying out AI transformation projects wit

Apr 28, 2025By Nam Hyun-woo
LG CNS posts record Q1 sales fueled by strong AI biz demand
Companies

HD KSOE's affiliates win $173 bil. container ship orders

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) said Monday its affiliates have secured 2.5 trillion won worth of orders to build 22 container carriers for clients in the Asia and Oceania regions. HD Hyundai Mipo Dockyard will build 16 container ships at its shipyard in Ulsan, 305 kilometers southeast of Seoul, for shippers in the two regions by the first half of 2028, HD KSOE said in a press release. HD Hyundai Samho Heavy Industries will build six container ships at its shipyard in Yeongam, 308 km south of Seoul, for gradual delivery to clients in the regions over the same period. The company did not provide the names of the clients. HD KSOE, a subholding company of shipbuilding-to-machinery conglomerate HD Hyundai, has three affiliates under its wing, including HD Hyundai Heavy Industries.

Apr 28, 2025By Yonhap
HD KSOE's affiliates win $173 bil. container ship orders
Banking & Finance

Seoul shares up late Monday morning amid cautious tariff optimism

Korean stocks traded higher late Monday morning, as investors looked to developments of last week's tariff talks with the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.07 points, or 0.28 percent, to 2,553.37 as of 11:20 a.m. The index opened a tad higher, and had managed to maintain the momentum on institutional buying. During the first round of tariff talks helWashington on Thursday, Korea and the U.S. agreed to make joint efforts to craft a "package" deal on new U.S. tariffs and economic cooperation issues by July 8, when the 90-day pause of the Donald Trump administration's sweeping tariffs is set to be lifted. Working-level talks will be kicked off this week for setting details. Top-cap shares traded mixed. Market bellwether Samsung Electronics added 0.18 percent, while chip giant SK hynix sank 2.06 percent. Top automaker Hyundai Motor fell 0.11 percent, but its sister affiliate Kia gained 0.57 percent. Leading battery maker LG Energy Solution rose 0.44 percent, while LG Chem dipped 0.89 percent. Leading shipbuilder HD Hyundai Heavy lost 1.12 percent, but i

Apr 28, 2025By Yonhap
Seoul shares up late Monday morning amid cautious tariff optimism
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