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  • Tech & Science

    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm

    Samsung Electro-Mechanics will supply multilayer ceramic capacitors (MLCCs) for artificial intelligence (AI) servers to a U.S. Big Tech firm, signing a $294 million (454 billion won) contract. The company said in a regulatory filing Tuesday that it has signed a one-year supply deal that will begin on Jan. 1 next year. The company did not identify the customer, but sources said it is a U.S. cloud service provider. The deal accounts for approximately 9 percent of the component division's 2025 revenue of 5.2 trillion won. MLCC is a component that stabilizes power for semiconductors and other electronic devices. As power fluctuations in servers can directly affect performance, MLCCs have become increasingly important in AI server environments. AI server applications require high-performance MLCCs that can withstand the harsh operating conditions created by intensive computing workloads, such as high heat and greater stress for warpage. AI servers contain more than 10 times as many MLCCs as conventional servers. A typical AI graphics processing unit is equipped with more than 20,000 MLCCs, mea

    2 MIN READBy Nam Hyun-woo
    Samsung Electro-Mechanics bags $294 mil. MLCC supply deal with US Big Tech firm
  • 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
  • Companies

    SK Chemicals boosts decorative film flexibility with new SKYPEL material

    1 MIN READBy Lee Kyung-min
    SK Chemicals boosts decorative film flexibility with new SKYPEL material
  • Banking & Finance

    Woori Financial's bid to take Tongyang Life private continues to stall amid shareholder backlash

    2 MIN READBy Park Han-sol
    Woori Financial's bid to take Tongyang Life private continues to stall amid shareholder backlash
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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

Korea hit with highest tariff rates among US free trade partners

Korea has been hit with the highest reciprocal tariff rate among the 20 countries that have free trade agreements (FTAs) with the United States. With it clear that Seoul had failed to persuade Washington to impose lower tariffs on Korean products compared to those from major exporters like Japan and the European Union, concerns are growing over Korea's diplomatic approach and future trade negotiations with the U.S. The White House announced on Wednesday (local time) that the U.S. will impose a 25 percent reciprocal tariff on Korea, while charging 24 percent on Japan and 20 percent on EU member states. Although an earlier chart presented by U.S. President Donald Trump indicated that Korea's tariff rate would be 25 percent, the White House later corrected the figure, updating it to 26 percent in an executive order annex on its website. The higher tariff on Korea apparently stems from Trump's claim that the country has effectively imposed 50 percent tariffs on U.S. products when accounting for exchange rates and nontariff barriers. "Reciprocal tariffs are calculated as the tariff rate necess

Apr 3, 2025By Park Jae-hyuk
Korea hit with highest tariff rates among US free trade partners
Companies

Hydrogen cars, EVs take center stage at Seoul Mobility Show

GOYANG, Gyeonggi Province — At this year’s edition of the Seoul Mobility Show, vehicles powered by hydrogen energy, electricity, or both are in the spotlight as the global auto industry transitions toward sustainable, eco-friendly mobility. The largest auto show in Korea opened with much fanfare on Thursday, with hopes of shedding light on the direction of future mobility. Major global carmakers, such as Hyundai Motor, Kia and BMW, participated in the exhibition to showcase their latest auto lineups and visions for sustainable mobility. According to the event’s organizing committee, a total of 451 firms from 12 countries participated in the 2025 Seoul Mobility Show — the largest in its history — to showcase their technological prowess in breaking the boundaries of land, sea and air. Hyundai Motor, one of the most influential carmakers both domestically and internationally, captured the spotlight by unveiling its latest fuel cell electric vehicle — the all-new NEXO — for the first time in the world. The completely redesigned hydrogen car made its global debut after the launc

Apr 3, 2025By Lee Min-hyung
Hydrogen cars, EVs take center stage at Seoul Mobility Show
Banking & Finance

Hana Securities granted regulatory exemption for foreign investors’ direct stock trading

Hana Securities has been granted a regulatory exemption allowing nonresident foreign investors to directly invest in Korean stocks through overseas securities firms, the company said Thursday. This exemption enables foreign investors to open accounts with domestic securities firms at overseas brokerage branches. Starting with this initiative, financial authorities in Korea plan to gradually improve regulations to enhance foreign investors’ access to the domestic stock market. Hana Securities expects to roll out the new service after approximately two months of development. Upon launch, foreign investors will be able to trade Korean stocks through accounts opened at Hong Kong-based Emperor Securities. Additionally, the firm plans to expand the service to additional countries in the near future, as it is actively engaging with brokerage houses in Singapore, Taiwan and Japan that are interested in facilitating Korean stock investments. The latest regulatory reform was initiated due to the lack of utilization of the foreign investor omnibus account system, which was introduced in 2017. In res

Apr 3, 2025By Jun Ji-hye
Hana Securities granted regulatory exemption for foreign investors’ direct stock trading
Companies

LG Innotek, KAIST join hands to develop future technologies

LG Innotek is partnering up with the Korea Advanced Institute of Science and Technology (KAIST) to work toward developing future technologies and fostering talent, the company said Thursday. According to the electronics component affiliate of LG Group, it signed a memorandum of understanding (MOU) with the university to collaborate on research in areas such as optics, semiconductors, mobility and robotics. The partnership will also focus on securing talent in these fields over the next three years. "This cooperation will be an important driving force for LG Innotek to expand its business portfolio from mobile to semiconductors, mobility and robotics,” CEO Moon Hyuk-soo said. The agenda for this collaboration includes developing technologies for next-generation imaging, detecting microdefects on a substrate, autonomous vehicle sensors and control systems for robotic components. LG Innotek possesses fundamental technologies in substrates and sensing and control systems, as well as experience in optics and substrate businesses. Meanwhile, KAIST is recognized for its expertise and research

Apr 3, 2025By Lee Gyu-lee
LG Innotek, KAIST join hands to develop future technologies
Banking & Finance

Banks to close branches near Constitutional Court on day of Yoon’s impeachment ruling

Major commercial banks in Korea will temporarily close their branches near the Constitutional Court on Friday, when the court is set to deliver its impeachment ruling against President Yoon Suk Yeol, industry officials said Thursday. The banks made this decision due to concerns over potential safety incidents, as large crowds of supporters and opponents of impeachment are expected to gather near the court. Shinhan Bank will temporarily close its two branches near the court on that day, and employees at the branches will be reassigned to alternative workplaces. The bank sent notifications to its customers regarding the closures. Hana Bank will suspend operations at two branches near the court and designate its branch in Jongno and the 19th floor of its Euljiro headquarters as alternative service locations. Woori Bank has also decided to close its Anguk Station branch near the court and will guide customers to alternative branches in the Jongno area. KB Kookmin Bank has no branches located within 600 meters of the court. Still, the bank conducted inspections of fire extinguishers, emergency

Apr 3, 2025By Jun Ji-hye
Banks to close branches near Constitutional Court on day of Yoon’s impeachment ruling
Companies

Aekyung Industrial’s K-beauty market share at risk amid potential sale

Aekyung Industrial, once among Korea’s top three beauty product makers, is likely to be put up for sale. Aekyung Industrial announced Thursday that Aekyung Group is considering selling its 63.38 percent stake in the company, currently held by its holding company, AK Holdings. The country’s beauty product industry, currently dominated by Amorepacific, LG H&H and APR, is expected to see a shake-up if Aekyung Industrial finds a new owner. Depending on who buys the company, Aekyung could focus on either market expansion through brand renewal or raising profitability by downsizing brands. Aekyung Industrial CEO Kim Sang-joon said Tuesday the sale is “one of the most feasible options the group has come up to improve its financial condition.” The anticipated sale comes after the group experienced underperformance by its subsidiaries last year. Aekyung Industrial registered sales of 679 billion won ($463 million), a 1.5 percent increase from the previous year, but operating profit dropped by 24.4 percent to 46.8 billion won. Department store AK Plaza posted sales of 295 billion won ($201

Apr 3, 2025By Ko Dong-hwan
Aekyung Industrial’s K-beauty market share at risk amid potential sale
Tech & Science

HD Hyundai unveils new smart excavators at auto show

GOYANG, Gyeonggi Province — Towering yellow and orange excavators took center stage on Thursday, as HD Hyundai XiteSolution unveiled its latest models at the 2025 Seoul Mobility Show at KINTEX in Goyang, Gyeonggi Province, Thursday. These massive construction machines, the largest items on display at the motor show, made their public debut at an event typically dominated by car manufacturers. According to the intermediate holding company for HD Hyundai's construction machinery business, this marks the first time a Korean heavy equipment manufacturer has participated in the biennial auto show. The parent firm of HD Hyundai Construction Equipment and HD Hyundai Infracore said that its presence at the 10-day event aims to highlight the importance of infrastructure in mobility. "With these next-generation models, we aim to sell 450,000 pieces of construction equipment overseas and generate 70 trillion won ($48 billion) in international revenue between 2025 and 2030," HD Hyundai XiteSolution CEO Cho Young-cheul said. At the exhibition, HD Hyundai Construction Equipment showcased a 40-ton exc

Apr 3, 2025By Park Jae-hyuk
HD Hyundai unveils new smart excavators at auto show
Companies

Aseptic carton water and recycling initiatives drive change

As industries worldwide intensify their sustainability efforts, the hospitality sector is embracing environmentally conscious changes at a rapid pace. Last year, the government enforced regulations prohibiting hotels and lodgings with 50 or more rooms from offering complimentary single-use amenities to reduce plastic waste. In response, many hotels have transitioned to reusable alternatives, implemented energy-saving systems and adopted sustainable management practices. Among these efforts, reducing plastic consumption has become a key priority, leading to significant changes in how hotels provide drinking water. One of the most notable shifts has been replacing plastic water bottles with aseptic cartons. A leading example is Four Seasons Hotel Seoul, which has replaced plastic water bottles with water in aseptic cartons labeled Deep Sea Water — an exclusive version of Deep Water by iN Natural Dream — across its guest rooms, banquet halls, spa and fitness center. The initiative aligns with the hotel's long-term sustainability strategy. This shift is part of a broader global movement,

Apr 3, 2025By Lee Gyu-lee
Aseptic carton water and recycling initiatives drive change
Companies

KCCI urges close coordination between Seoul, Washington over Trump's reciprocal tariff policy

The Korea Chamber of Commerce and Industry (KCCI), a major South Korean business lobby, on Thursday called for close communication and policy coordination between Seoul and Washington following U.S. President Donald Trump's announcement of reciprocal tariffs. On Wednesday (U.S. time), Trump announced a 10 percent "baseline" tariff on imports from all trading partners and "reciprocal" tariffs, including 25 percent duties for South Korea -- a culmination of his drive to curtail America's trade deficits and strengthen domestic manufacturing. "The reciprocal tariff policy marks a significant shift that could affect not only South Korea-U.S. trade but also the broader global trade order," the KCCI said in a statement, adding that it would closely monitor the policy's potential impact. The chamber stressed the importance of the trust between the countries built on their long shared history and a bilateral free trade agreement (FTA), also underscoring that South Korean companies have actively contributed to the U.S. economy with massive investments in key sectors, including semiconductors and

Apr 3, 2025By Yonhap
KCCI urges close coordination between Seoul, Washington over Trump's reciprocal tariff policy
Companies

KORUS FTA loses shine, but stays central in overcoming tariff threats

With the Donald Trump administration implementing reciprocal tariffs on all countries, the fate of the Korea-U.S. Free Trade Agreement (KORUS FTA) is facing mounting questions, with experts expressing concerns that the new tariffs could significantly undermine its benefits. However, experts said the trade pact serves as the foundational framework for trade between Seoul and Washington and an important tool for trade negotiations with the U.S., noting the likelihood that the Trump administration will demand a revision to the agreement Washington on Wednesday (local time) imposed a 25 percent duty on all imports from Korea, with Trump listing the country on what he called the "worst offender" list. Trade between Korea and the U.S. has been largely free from tariffs under the KORUS FTA, which took effect in 2012, but the Trump administration has argued that bilateral trade remains unfair. Last year, Korea posted a record trade surplus of $55.7 billion with the United States. This increase is largely attributed to the expansion of intermediate goods exports, as more Korean companies establis

Apr 3, 2025By Nam Hyun-woo
KORUS FTA loses shine, but stays central in overcoming tariff threats
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