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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 South 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. 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 had significantly hindered game developers from entering rival app mark

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

    Samsung Epis Holdings opens 1st overseas R&D center in Beijing

    1 MIN READBy Jhoo Dong-chan
    Samsung Epis Holdings opens 1st overseas R&D center in Beijing
  • Companies

    Temu boosts IP protection for K-brands

    2 MIN READBy Ko Dong-hwan
    Temu boosts IP protection for K-brands
  • Business

    National Growth Fund to scale up investment in physical AI sector

    1 MIN READBy Yonhap
    National Growth Fund to scale up investment in physical AI sector
  • Companies

    Samsung, SK chip investment timelines leave room for adjustment

    4 MIN READBy Nam Hyun-woo
    Samsung, SK chip investment timelines leave room for adjustment
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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

InterviewPUBG: Battlegrounds creator sets sights on massive digital worlds with Prologue

When Brendan Greene, better known as "PlayerUnknown," left the Korean gaming giant Krafton in 2019, he stepped away from the battle royale genre he helped pioneer. Today, his ambitions extend beyond the enormously popular game type he helped define with PUBG: Battlegrounds, aiming instead to create worlds that could reshape the future of gaming. Greene's studio, PLAYERUNKNOWN Productions, nestled in Amsterdam with a team of more than 60, has spent the past few years quietly working on groundbreaking technology to create massive, realistic digital environments. Greene describes the journey since leaving Krafton as a humbling education in leadership and technology. "I was very quiet because it was a struggle internally to try to get this simple survival game that we have now off the ground," he admits. "When you put a relatively inexperienced person in charge of a company, often things take a little bit longer." The core challenge Greene set for his studio was ambitious: build immersive, procedurally generated worlds spanning hundreds of kilometers — far beyond typical game boundaries.

Apr 24, 2025By John Popko
PUBG: Battlegrounds creator sets sights on massive digital worlds with Prologue
Banking & Finance

MBK denies prior knowledge of Homeplus credit downgrade, involvement in bonds issuance

MBK Partners and Homeplus did not anticipate the retailer’s credit rating downgrade, nor did they prepare for any rehabilitation procedures in advance, they said Thursday. The two also said they were not involved in the controversial issuance, sale and resale of asset-backed short-term bonds (ABSTB) tied to Homeplus’ card receivables. The rebuttal came hours after Lee Bok-hyun, governor of the Financial Supervisory Service, the country’s financial watchdog, said during a media briefing that his agency had secured concrete evidence suggesting that MBK was aware of Homeplus’ credit rating downgrade in advance and had planned to file for corporate rehabilitation long before the actual filing on March 4. Earlier this week, the financial authorities notified the prosecution about alleged unfair trading by key executives at Homeplus and its largest shareholder, MBK, through a fast-track process for an expedited investigation. In a joint press release, the private equity firm and the supermarket chain stated that they had taken proactive steps and filed for rehabilitation procedures to

Apr 24, 2025By Jun Ji-hye
MBK denies prior knowledge of Homeplus credit downgrade, involvement in bonds issuance
Tech & Science

LG Chem expands eco-friendly portfolio

LG Chem is building a diverse business portfolio with eco-friendly future technologies, from environmentally friendly and recycled plastic materials to bio-based raw materials and sustainable automotive components. The leading chemical company announced it is planning to expand the manufacturing of bio-circular balanced products using bio-based raw materials, such as waste cooking oil and plant waste, in its effort to reduce greenhouse gas. LG Chem inked a joint venture agreement with Italy's largest oil company, Eni, last January. It aims to open Korea's first hydrotreated vegetable oil (HVO) plant by next year, with an annual capacity of 300,000 tons and the ability to manage the full production process, from raw materials to final products. HVO is a facility that produces renewable diesel fuel from hydrotreated vegetable oil, which can be used as a raw material for eco-friendly plastic products. The company currently has 61 ISCC Plus certified products, including super absorbent polymer and acrylonitrile butadiene styrene. The company is also expediting its efforts to establish chemic

Apr 24, 2025
LG Chem expands eco-friendly portfolio
Companies

Steelmakers pin hopes on earnings recovery through US expansion

Korea's two largest steelmakers experienced declines in their first-quarter revenues, largely due to the lingering oversupply of low-priced Chinese steel products amid weakening demand in the domestic construction industry. While Washington has maintained the sweeping 25 percent tariffs on all steel imports, both companies expressed optimism that their planned investments in the United States will lead to earnings recoveries. POSCO Holdings, which posted 17.4 trillion won ($12.1 billion) in sales and 568 billion won in operating profit, announced Thursday that its steelmaking unit, POSCO, saw a 5.8 percent year-on-year drop in revenue to 8.97 trillion won and a 16.7 percent rise in operating profit to 346 billion won. The steelmaker attributed the results to a surge in product prices and cost-reduction measures, as well as large-scale factory maintenance. "We aim to secure footholds in highly profitable markets with high growth potential," a POSCO Holdings official said. POSCO Holdings highlighted its planned partnership with Hyundai Motor Group as part of the strategy. Recently, POSCO de

Apr 24, 2025By Park Jae-hyuk
Steelmakers pin hopes on earnings recovery through US expansion
Companies

Samsung Heavy Industries Q1 net profit up over 10-fold to $62.8 mil.

Samsung Heavy Industries on Thursday reported its first-quarter net income of 90.1 billion won ($62.8 million), up 1,055.1 percent from a year earlier. Operating profit for the January-March period was 123.1 billion won, up 58 percent from a year ago, the company said in a regulatory filing. Sales rose 6.2 percent to 2.49 trillion won. The earnings beat market expectations. The average estimate of net profit by analysts stood at 60.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Apr 24, 2025By Yonhap
Samsung Heavy Industries Q1 net profit up over 10-fold to $62.8 mil.
Companies

Hyundai Motor Q1 net up 0.2% amid US tariff uncertainty

Hyundai Motor Korea's leading automaker, said Thursday its first-quarter net profit rose 0.2 percent from a year earlier, amid growing uncertainties stemming from U.S. President Donald Trump's sweeping tariff policies. Net profit for the three months ended March came to 3.38 trillion won ($2.4 billion), up from 3.376 trillion won during the same period last year, the company said in a regulatory filing. Operating profit increased 2.1 percent on-year to 3.63 trillion won in the March quarter, compared with 3.56 trillion won a year earlier. Sales rose 9.2 percent to 44.4 trillion won, up from 40.66 trillion won. "Increased sales of value-added sport utility vehicles (SUVs) and the won's weakness against the dollar helped the company achieve an operating profit margin of 8.2 percent in the first quarter," the company said. In the January-March period, Hyundai sold a total of 1,001,120 vehicles in global markets, down 0.6 percent from the previous year. Looking ahead, the company cautioned that rapidly changing trade environments, driven by recent U.S. tariff measures, could lead to a potenti

Apr 24, 2025By Yonhap
Hyundai Motor Q1 net up 0.2% amid US tariff uncertainty
Companies

LG Electronics Q1 net income up nearly 50% on robust sales

LG Electronics said Thursday its first-quarter net profit jumped nearly 50 percent from a year earlier, driven by record-breaking quarterly sales. The company posted a net profit of 875.6 billion won ($612.4 million) for the January-March period, up 49.6 percent from 585.4 billion won a year earlier, according to a regulatory filing. Its revenue rose 7.8 percent on-year to 22.73 trillion won, the highest ever recorded for a first quarter. Operating income totaled 1.25 trillion won, down 5.7 percent from 1.33 trillion won a year ago. The figure was 5.4 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. LG Electronics attributed its steady sales growth to strong performance in its business-to-business (B2B) sectors, including electric vehicle components, subscriptions and heating, ventilation and air conditioning (HVAC) businesses. The vehicle component division posted record-high first-quarter sales of 2.84 trillion won and an operating profit of 125.1 billion won. The

Apr 24, 2025By Yonhap
LG Electronics Q1 net income up nearly 50% on robust sales
Companies

Maxim Plant has coffee lovers buzzing

Maxim Plant, located in Seoul’s upscale Hannam-dong neighborhood, has created a buzz among coffee lovers with its offers of unique experiences. Since its launch in 2018, Maxim Plant has attracted over 1.31 million visitors as of the end of last year, reflecting its steady popularity. The venue, operated by Dongsuh Foods, is themed around Maxim, the company’s flagship instant coffee brand. The venue stands apart from typical cafes in Korea by offering a coffee experience that engages all five senses. It also appeals to coffee enthusiasts eager to craft their own version of the world’s best cup. On Maxim Plant's third floor, the Brewing Lounge offers a standout feature called Synesthesia Coffee, a fully customizable experience designed to enhance the way visitors enjoy their coffee. Using a tablet, guests select their preferences for aroma, acidity and roast level. Based on their choices, the system recommends one of 16 specialty coffee drinks Maxim Plant offers. The lounge then provides a guided explanation of the selected coffee, along with curated music or poetry to complement the

Apr 24, 2025By Ko Dong-hwan
Maxim Plant has coffee lovers buzzing
Companies

Financial watchdog rebukes claims by MBK, Homeplus over rating downgrade, debt sale fiasco

The chief of the country's financial watchdog on Thursday said private equity fund MBK Partners and its wholly owned retailer Homeplus had prepared for a court rehabilitation scheme "for a long period of time" before a rating downgrade and sold short-term debts despite the possibility of its rating downgrade. The remarks by Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), run counter to their earlier claims that they had drawn up measures for court-led rehabilitation from Feb. 28 after Homeplus' ratings were lowered. On March 4, Homeplus entered court-led rehabilitation proceedings. They have also insisted that Homeplus had sold short-term debts not expecting its rating to be lowered. "Homeplus and MBK Partners are insisting that they were not aware of the rating downgrade, but we have secured specific evidence that they were aware of the rating cut in advance, and had prepared for a court rehabilitation scheme for a long period of time," Lee said in a press briefing. Based on the probe, the watchdog referred the case to the prosecution for further investigation earlier

Apr 24, 2025By Yonhap
Financial watchdog rebukes claims by MBK, Homeplus over rating downgrade, debt sale fiasco
Companies

Korea to impose anti-dumping tariffs on Vietnamese stainless steel products

Korea's trade watchdog decided Thursday to impose anti-dumping tariffs on cold-rolled stainless steel products from two Vietnamese companies, according to Seoul's industry ministry. The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 18.81 percent duties on stainless steel products imported from Vietnam's Yongjin Metal Technology and 11.37 percent tariffs on those from TVL Joint Stock over the next five years, it said. The don came after Korean steel giant POSCO Holdings filed a complaint against the Vietnamese companies with the KTC a year ago. The KTC concluded that the dumping of Vietnamese steel products here has caused "substantial" damage to the local steel industry. On Thursday, the KTC also recommended the finance ministry to levy provisional anti-dumping tariffs of up to 33.97 percent on Chinese sodium dithionite products following a preliminary investigation. In addition, the trade watchdog proposed provisional anti-dumping tariffs of up to 17.19 percent on particle board imports from Thailand, according to the ministry.

Apr 24, 2025By Yonhap
Korea to impose anti-dumping tariffs on Vietnamese stainless steel products
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