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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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Companies

HD Hyundai Mipo wins $111 mil. container ship order in Asia

HD Hyundai Mipo Dockyard, a Korean shipbuilder, said Thursday it has secured a 159 billion-won ($111 million) order to build two container carriers for a client in Asia. The vessels will be delivered to an undisclosed Asian shipping company by May 2027, the company said in a regulatory filing. HD Hyundai Mipo is one of three affiliates under HD Korea Shipbuilding & Offshore Engineering (HD KSOE), alongside HD Hyundai Heavy Industries and HD Hyundai Samho Heavy Industries. HD KSOE is a subholding company of HD Hyundai, formerly known as Hyundai Heavy Industries Holdings.

Apr 24, 2025By Yonhap
HD Hyundai Mipo wins $111 mil. container ship order in Asia
Companies

Samsung SDI named Jaguar Land Rover's top partner

Samsung SDI said Thursday that it has received the Jaguar Land Rover (JLR) Quality Award from the British carmaker, which also certified the Korean battery maker as a top global partner. Since 2010, JLR has rewarded its global suppliers for their efforts to provide high-quality products on time, contributing to mutual growth. The automaker presents the awards following a rigorous evaluation of partners based on product quality and delivery reliability. With the recent award, Samsung SDI has been recognized for its product technology and quality, solidifying its position as an outstanding partner. "Our outstanding technological prowess and quality have been reaffirmed by our premium brand client, and we will continue to provide our customers with the best products and grow together through the partnership," said Park Jeong-joon, head of Samsung SDI's quality division. Following a strategic partnership signed in 2018, Samsung SDI has supplied JLR with its 21700 cylindrical batteries for the Range Rover and Range Rover Sport. According to the Korean firm, the battery is optimized for fast ch

Apr 24, 2025By Park Jae-hyuk
Samsung SDI named Jaguar Land Rover's top partner
Business

Customs agency meets with local steelmakers over US tariff measures

The Korea Customs Service (KCS) said Thursday it has held a meeting with local steelmakers to discuss countermeasures in response to the latest U.S. tariff actions targeting foreign steel imports. During the meeting held Wednesday, members of the Korea Iron and Steel Association voiced concerns over the growing inflow of illegally underpriced steel products amid heightened trade tensions following the Donald Trump administration's tariff policies. On March 12, the U.S. government began imposing a 25 percent tariff on all steel imports as part of its broader strategy to reduce trade deficits and support domestic manufacturing. In addition, Washington abolished duty-free import quotas previously granted to South Korea and other countries. At the meeting, the KCS briefed industry representatives on its current enforcement efforts, including inspections targeting violations of origin labeling rules and attempts to evade antidumping duties. "We will push forward with effective policies to protect the domestic industry, based on the input and concerns shared during the meeting," a KCS official

Apr 24, 2025By Yonhap
Customs agency meets with local steelmakers over US tariff measures
Companies

Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources

Samsung Electronics is expected hold the summer edition of its Galaxy Unpacked event in July in New York, industry sources said Thursday. At the event, Samsung Electronics will unveil the latest versions of its foldable smartphone series, the Galaxy Z Fold 7 and Galaxy Z Flip 7, according to the sources. The exact date of the event has not yet been finalized. It is the first time in nearly three years that Samsung Electronics will debut its new Galaxy smartphones in New York following the event in August 2022, when the world's largest smartphone maker introduced the Galaxy Z Fold 4 and Galaxy Z Flip 4. Samsung Electronics has hosted previous Unpacked events for its foldable lineup in cities including Paris last year and Seoul the year before.

Apr 24, 2025By Yonhap
Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources
Companies

Hyundai Motor partners with India's IIT Delhi to open mobility research center

Hyundai Motor Group said Thursday it has partnered with the Indian Institute of Technology (IIT) Delhi to establish a new research center in India aimed at advancing future mobility technologies, with a focus on electrification and battery systems. Under their partnership agreement signed Wednesday, the two sides will establish the Hyundai Center of Excellence, which will serve as a hub for joint research projects under a long-term academic-industry cooperation framework. Hyundai Motor and Kia together plan to invest around 5 billion won ($ 3.5 million) over two years to pursue research in future mobility technologies at the center. The group has identified nine collaborative projects with IIT Delhi, covering areas such as battery cells and systems, battery management systems, safety, durability and diagnostic technologies. The center will also explore new materials and components to further enhance battery design and performance. An official partnership agreement signing ceremony was held in New Delhi, attended by Yang Heui-won, president and head of Hyundai's research and development di

Apr 24, 2025By Yonhap
Hyundai Motor partners with India's IIT Delhi to open mobility research center
Companies

Demand grows for stronger cabin crews to prevent air rage

Once stereotyped as jobs for young women who were chosen for their attractiveness, flight attendant positions are now undergoing a major shift as concerns rise over air rage incidents, including passengers opening emergency exits without authorization. More airlines in Korea are now seeking cabin crew members who can physically restrain violent passengers. Eastar Jet, for example, announced plans to test applicants' physical abilities during upcoming recruitment sessions, deviating from the common practice of only requiring fitness documentation. The budget carrier will measure each applicant's arm reach and voice projection, asking them to perform sit-ups, run and jump. Applicants will also be evaluated through role-playing scenarios to assess their responses to in-flight emergencies. Ahead of the change in recruitment standards, Eastar conducted a physical strength check for current employees on April 17. "We hope this will be the first step toward changing the public perception that flight attendants are hired primarily based on age and appearance," a company official said. Korean Air r

Apr 24, 2025By Park Jae-hyuk
Demand grows for stronger cabin crews to prevent air rage
Companies

SK hynix defies seasonal downturn to post surprising Q1 operating profit

SK hynix far outperformed already-high market expectations for its first-quarter earnings, defying the usual seasonal downturn for chipmakers to deliver its second-highest quarterly sales and operating profit ever. The memory chip giant announced Thursday that it recorded an operating profit of 7.44 trillion won ($5.21 billion) in the first quarter of this year, marking a 157.8 percent increase year-on-year. Revenue for the January-to-March period reached 17.64 trillion won, up 41.9 percent from the same period last year. The numbers exceeded brokerages’ consensus of 6.6 trillion won in operating profit and 17.28 trillion won in sales. It is the company’s second-highest quarterly earnings, following its record-breaking results in the fourth quarter of last year. The company’s operating margin also reached 42 percent, up by 1 percentage point from three months earlier, extending an uptrend for the eighth consecutive quarter. “During the first quarter, the memory chip market recovered faster than expectations due to an accelerated race for developing artificial intelligence (AI) se

Apr 24, 2025By Nam Hyun-woo
SK hynix defies seasonal downturn to post surprising Q1 operating profit
Companies

LG Electronics India IPO bid slows down

LG Electronics’ bid to list its Indian unit on the local stock market appears to be slowing down amid volatility in the global capital market stemming from the United States tariff measures. According to industry officials, Wednesday, LG Electronics India recently completed its updated draft red herring prospectus (DRHP) for listing, but is still deliberating on the timing of its submission to the Securities and Exchange Board of India. After receiving a provisional approval for the 150 billion rupee ($1.72 billion) initial public offering (IPO) bid last month, the company has been preparing the updated DRHP, a step that would pave the way for final IPO procedures such as the filing of the securities prospectus and book building. Given this progress, market watchers had expected LG Electronics India to move swiftly and make its stock market debut as early as next month. However, the company is reportedly still considering the optimal timing for the submission. Reflecting on the deliberation, Bloomberg News reported on Wednesday that LG Electronics India has paused work on the IPO becau

Apr 23, 2025By Nam Hyun-woo
LG Electronics India IPO bid slows down
Companies

China's Huayou to replace LGES in Indonesian EV battery project, minister says

China's Zhejiang Huayou Cobalt is replacing Korea's LG Energy Solution (LGES) as a strategic investor in one of Indonesia's major electric vehicle (EV) battery projects, the country's Energy and Mineral Resources Minister Bahlil Lahadalia said on Wednesday. LGES on Monday announced its withdrawal from the 142 trillion rupiah ($8.42 billion) project. Indonesia is keen to develop domestic processing industries to produce batteries and EVs to take advantage of its rich mineral resources. "Change of investors is a common dynamic in large-scale projects," Bahlil said in a statement, adding that there will be no change to the underlying plans for the project. Huayou would be collaborating with Indonesian state-controlled companies on the project. Bahlil said Indonesia remains committed to using its mineral resources domestically, and the government will ensure a smooth transition for the project. A ground breaking ceremony for a part of the project is planned for later this year, he added, without sharing more details. Huayou's Indonesian unit did not immediately respond to a Reuters request for

Apr 23, 2025By Reuters
China's Huayou to replace LGES in Indonesian EV battery project, minister says
Companies

Trump Jr. to visit Korea next week at invitation of Shinsegae chairman

Donald Trump Jr., the eldest son of U.S. President Donald Trump, will visit South Korea next week at the invitation of Shinsegae Group Chairman Chung Yong-jin, a group official said Wednesday. The junior Trump plans to meet with key business officials during his visit to the country, the official said, without disclosing the exact date or other details of his trip. This will be Trump Jr.'s first visit to Korea since the inauguration of his father in January. It will come as Korea businesses have been grappling with a series of new tariffs the Trump administration has imposed on imports to the United States, including those from South Korea. Chung and Trump Jr. are known to be close. In December, Trump Jr. invited the Shinsegae chairman to his father's Mar-a-Lago resort in Florida, which led to a meeting between Chung and then President-elect Trump. Korean business circles reportedly asked Chung to facilitate Trump Jr.'s visit to Korea as a way to establish contact with the Trump administration.

Apr 23, 2025By Yonhap
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman
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