my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Samsung, SK chip investment timelines leave room for adjustment

    Samsung Electronics and SK hynix announced a combined 800 trillion won ($516.4 billion) investment commitment to establish advanced chip plants in Gwangju and South Jeolla Province in Korea's southwest, but stopped short of providing a timeline for when the investments will be made or construction will begin, leaving room to adjust their spending plans until the long-term memory chip cycle becomes clearer. According to the government and the chipmakers, Samsung and SK will each invest 400 trillion won to build two advanced memory fabrication each in the region, for a total of four new fabs as part of the government’s “three megaprojects for Korea’s leap forward.” Samsung Electronics Executive Chairman Lee Jae-yong named Gwangju as the candidate site, while SK Group Chairman Chey Tae-won referred to the region as a whole. While announcing the massive plans while standing with President Lee Jae Myung, who have been urging the chipmakers to make investment in the southwestern region, the leaders refrained from specifying timelines for the new fabs. The companies also did not mention

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

    KakaoBank lands 4 papers at leading AI conferences

    2 MIN READBy Lee Hyo-jin
    KakaoBank lands 4 papers at leading AI conferences
  • Companies

    LG Electronics to establish control tower for robotics business

    2 MIN READBy Nam Hyun-woo
    LG Electronics to establish control tower for robotics business
  • Companies

    Incheon airport operator to halve employee parking permits

    3 MIN READBy Lee Min-hyung
    Incheon airport operator to halve employee parking permits
  • Companies

    Court grants JTBC time for autonomous restructuring amid liquidity crisis

    1 MIN READBy Yonhap
    Court grants JTBC time for autonomous restructuring amid liquidity crisis
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

Kia unveils K4 hatchback in New York ahead of US launch

Kia, Korea's second-biggest carmaker, said Thursday it has unveiled the K4 hatchback at the New York auto show ahead of its U.S. launch later this year. The K4 hatchback comes with a 1.6-liter turbocharged gasoline engine and an eight-speed automatic transmission, the company said in a press release. It is set to be placed in the U.S. market in the fourth quarter of the year. The model is not for sale in the Korean market. The maker of K5 sedans and Sorento sport utility vehicles (SUVs) also showcased the compact EV4, its first all-electric sedan, at the New York International Auto Show, set to run through April 27, the release said. In the United States, the EV4 will be available in a 58.3 kilowatt-hour (kWh) battery-equipped model or an 81.4 kWh long-range model that can travel more than 530 kilometers per charge, Kia said. "The EV4 makes all-electric ownership accessible for those customers who are seeking a more practical and affordable option on the EV landscape while still desiring an advanced, technology-driven in-car experience," Steven Center, chief operating officer and executiv

Apr 17, 2025By Yonhap
Kia unveils K4 hatchback in New York ahead of US launch
Others

Korean exports expected to see US tariff impact starting second quarter, trade minister says

Korean exports will likely come under the substantive influence of U.S. tariffs starting in the second quarter, the trade minister said Thursday, pledging "swift" support measures for affected industries. "Local industries are feeling a growing sense of unease as unprecedented uncertainties persist," Trade Minister Cheong In-kyo said in a meeting with export-related officials, noting the impact of tariffs imposed by the Donald Trump administration is anticipated to materialize in the second quarter. Cheong said the government will work together with related authorities to closely monitor export conditions in each region and "swiftly" devise measures to ease challenges faced by local exporters. The government has announced plans to inject trillions of won in financial support to help exporters weather the effects of Washington's hefty tariffs on key items, including steel, aluminum and automobiles. In the first quarter, Korea's outbound shipments decreased 2.1 percent from a year earlier to $159.8 billion on the weak performance of the auto and machinery sectors, according to government d

Apr 17, 2025By Yonhap
Korean exports expected to see US tariff impact starting second quarter, trade minister says
Banking & Finance

BOK holds key rate steady amid weak won, Trump tariffs; growth outlook likely to be lowered

Korea's central bank kept its benchmark interest rate unchanged Thursday in a bid to support the wobbly currency and ensure financial stability, while adopting a cautious stance amid heightened uncertainty from the Donald Trump administration's sweeping tariff campaign. In a widely expected decision, the monetary policy committee of the Bank of Korea (BOK) held its key rate unchanged at 2.75 percent during a rate-setting meeting in Seoul. The decision follows a quarter-percentage-point rate cut at the previous meeting in February, which marked the third reduction since October 2024, when the BOK began its monetary easing cycle for the first time since August 2021. "Regarding Trump's tariff policy, it is as if we have suddenly entered a dark tunnel," BOK Gov. Rhee Chang-yong told a press briefing. "We are choosing to slow down and wait until things brighten up." One of the six board members dissented from the on-hold decision, while all of them expressed the need to keep open the possibility of further rate cuts over the next three months given sluggish economic growth. Thursday's decision

Apr 17, 2025By Yonhap
BOK holds key rate steady amid weak won, Trump tariffs; growth outlook likely to be lowered
Tech & Science

Korean-led consortium wins initial phase of US research reactor project

A Korean-led consortium has won a contract to conduct the initial design phase of a U.S. research reactor project, the science ministry said Thursday, marking the Asian country's first export of its reactor technology to the United States. The consortium consisting of the Korea Atomic Energy Research Institute, Hyundai Engineering and U.S. nuclear power engineering firm MPR signed a deal with Missouri University to conduct the early phase of the Next Generation Missouri University Research Reactor (NextGen MURR) project, the ministry said in a press release. The initial phase, dubbed the "design study package," is to look into conditions of the construction site for the 20-megawatt thermal reactor and conduct an environmental effect assessment for the project, it said. The ministry hailed Korea's successful bid to win the Missouri reactor deal as a "monumental achievement" for the Asian country, which began to develop its nuclear reactor capabilities by adopting a research reactor, TRIGA Mark-II, from the U.S. in July 1959. Starting with the Missouri deal, the government plans to set up

Apr 17, 2025By Yonhap
Korean-led consortium wins initial phase of US research reactor project
Banking & Finance

JB Financial chair buys treasury stocks to show commitment to responsible management

JB Financial Group Chairman Kim Ki-hong bought 12,127 company shares to increase his stakes in the firm, demonstrating his commitment to responsible management and enhancing shareholder value, the group said Wednesday. This raises his total stake to 160,000, or 0.08 percent of the company’s outstanding shares, the largest stakes held by the heads of Korea’s top seven financial groups. “I believe my increase in stakes reaffirms confidence in the group's long-term growth and commitment to responsible management and shareholder value increase,” Kim said. This is part of a continued commitment from the chairman, who received part of his annual bonus in treasury shares. He has made large-scale treasury stock purchases since he took the group's helm in March 2019. His term was renewed for the third time recently, extending to 2028. JB's other executives and employees have also increased their stakes in the group, fostering a culture of responsible management and commitment to strengthening corporate value. In February, the group announced a corporate strategy plan, including share buybac

Apr 17, 2025By Lee Kyung-min
JB Financial chair buys treasury stocks to show commitment to responsible management
Companies

Visa rules hold back Korean exporters from hiring more white-collar foreign workers

Nearly half of small- and medium-sized exporters in Korea have shown interest in hiring foreign nationals for white-collar jobs amid the country's declining population and young jobseekers' preference for large companies. However, Korea's current visa system has been cited as a major obstacle to bringing more foreign professionals on board. The Korea International Trade Association (KITA) said Wednesday that a recent survey of 659 small- and medium-sized exporters showed 49.5 percent of respondents plan to hire foreign nationals for white-collar roles within the next three years. Additionally, 27 percent said they have already hired foreign nationals for such positions, giving them an average satisfaction score of 3.8 out of 5. Among companies that have employed foreign white-collar workers, 39.4 percent cited the employees' ability to analyze overseas markets as the primary reason for hiring them, while 20.6 percent pointed to their language skills. Only 12.7 percent said they hired foreign workers to cut costs. Under current law, employers must ensure that E-7-1 visa holders receive a b

Apr 17, 2025By Park Jae-hyuk
Visa rules hold back Korean exporters from hiring more white-collar foreign workers
Companies

Genesis unveils electrified off-road SUV in New York

Genesis has unveiled a concept model for its X Gran Equator electrified off-road SUV in New York for the first time in the world, showcasing a blend of refined luxury design and a bold, masculine silhouette, the carmaker said Tuesday (local time). The vehicle was designed to target customers seeking to enjoy both an exquisite driving experience on the road and sturdy riding in mountainous areas. The concept vehicle displays Genesis' willingness to launch fresh vehicles featuring both masculinity and elegance — rarely seen among existing off-road cars. The luxury off-road SUV concept car was built on Genesis' design philosophy of athletic elegance. “The X Gran Equator concept is an exercise in harmonizing contrasts — combining elegance with ruggedness and the spirit of exploration with refined comfort,” Luc Donckerwolke, chief creative officer at Genesis, said. “It represents the orchestration of true off-road competence and uncompromising luxury, designed to enable the discovery of the world’s most breathtaking landscapes.” The exterior of the vehicle features clean lines and

Apr 16, 2025By Lee Min-hyung
Genesis unveils electrified off-road SUV in New York
Companies

CMG Pharmaceutical wins FDA approval for Schizophrenia treatment

CMG Pharmaceutical, a chemical drug affiliate of CHA Biotech, has received approval from the U.S. Food and Drug Administration (FDA) for its schizophrenia treatment, Mezofy, the company said Wednesday. Mezofy is an oral film-type drug based on aripiprazole, a widely used antipsychotic for treating a variety of mood and psychotic disorders. This is the fourth case of a Korean pharmaceutical company securing approval for an incrementally modified drug and the first done by changing the formulation. Patients with schizophrenia and other mental health conditions often stop taking their medication voluntarily, making consistent treatment a challenge. To address this, CMG Pharmaceutical formulated Mezofy into an oral film, enabling it to be taken without water and dissolving easily in the mouth. CMG Pharmaceutical said that Mezofy’s approval is significant because it was approved as an incrementally modified drug (IMD) whose chemical structure or formulation is altered from an already approved drug. IMDs are eligible for higher prices compared to generic drugs and can be marketed under brand

Apr 16, 2025By Nam Hyun-woo
CMG Pharmaceutical wins FDA approval for Schizophrenia treatment
Companies

KT dedicated to employing AI in media business

KT has rolled out its strategy to bolster its media business, KT Media New Way, pledging a 500 billion won ($350.2 million) investment to 2026 as it seeks a breakthrough in a struggling media industry landscape. “The entire value chain of content production is being rapidly restructured, revolving around global streaming services,” Kim Chae-hee, executive vice president of KT Media Group, said during a press conference in Gangnam District, Seoul, Wednesday. “Our media division was founded (late last year) with the purpose of making the media business one of KT Group’s three major portfolios. As simply following past success strategies has clear limitations, we believe we must find a new path unique to KT Media.” The new strategic plan includes three pillars: implementing an artificial intelligence (AI) agent in its media platform, using AI technology in the overall production of its original content and revamping its IPTV service to adopt a new business model. The company will be implementing an AI agent, which it developed in collaboration with Microsoft, on its IPTV platform

Apr 16, 2025By Lee Gyu-lee
KT dedicated to employing AI in media business
Companies

US curbs on Nvidia chips to have only limited impact on Korean chipmakers: experts

Korean chipmakers will likely face only limited impact from the new U.S. restrictions on exports of Nvidia's H20 artificial intelligence (AI) accelerators to China, experts here said Wednesday. Nvidia said it has been notified by U.S. authorities that the company now requires a license to export its H20 chips to China for the indefinite future. The H20 accelerators were the most advanced AI chip the company could still export to China under the existing U.S. export ban on high-performance AI chips. SK hynix supplies its eight-layer HBM3E, the fifth-generation high bandwidth memory (HBM), for the H20 chips. Samsung Electronics does not supply HBM for this particular chip. Experts say the new regulation is unlikely to significantly affect the Korean semiconductor firms in the short term, as SK hynix is currently focused on its latest 12-layer HBM3E, a key component in high-performance AI chips destined for markets outside China. Additionally, SK hynix has already finalized its HBM sales contracts for the H20 chips, meaning the new export restrictions will not affect its balance sheet, accor

Apr 16, 2025By Yonhap
US curbs on Nvidia chips to have only limited impact on Korean chipmakers: experts
previous page
515516517518519
next page

Most Read in Business