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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

    Chinese EV makers gain traction in Korea's import car market despite uphill battle

    3 MIN READBy Yulu Ao
    Chinese EV makers gain traction in Korea's import car market despite uphill battle
  • Companies

    Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion

    2 MIN READBy Nam Hyun-woo
    Lotte to launch Korea-Japan food joint venture in Singapore to spearhead Asia expansion
  • Companies

    Hyundai Motor set to open advanced service center in Gyeonggi Province

    2 MIN READBy Yonhap
    Hyundai Motor set to open advanced service center in Gyeonggi Province
  • Banking & Finance

    Winners of the 22nd Economic Essay Contest

    2 MIN READBy Lee Yeon-woo
    Winners of the 22nd Economic Essay Contest
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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

Hanwha Aerospace enters unmanned aircraft systems market with US military contractor

Hanwha Aerospace has partnered with General Atomics Aeronautical Systems (GA-ASI), a military contractor, to develop and produce unmanned aircraft systems (UAS) for the global defense market. GA-ASI is a global leader in UAS, renowned for its long-endurance, multi-mission platforms such as the MQ-9 Reaper and Gray Eagle. The collaboration marks a strategic move by Hanwha to expand its presence in the UAS sector and strengthen defense capabilities in Korea and beyond. The partnership follows a successful flight demonstration in 2024, where the companies tested the Gray Eagle's short takeoff and landing (STOL) from the Republic of Korea Navy’s amphibious landing ship, the ROKS Dokdo, while underway near Pohang. This test showcased the aircraft’s ability to operate from a variety of ship-based platforms, demonstrating new opportunities for multi-domain operations among U.S. and allied forces. “Unmanned systems are a strategic pillar for the future of defense,” Hanwha Group Vice Chairman Kim Dong-kwan said. “Through our collaboration with GA-ASI, we aim to enhance sovereign defense

Apr 2, 2025By Park Jae-hyuk
Hanwha Aerospace enters unmanned aircraft systems market with US military contractor
Companies

HD Hyundai Electric constructs Korea's largest phase shifting transformer

HD Hyundai Electric said Wednesday that it successfully completed the final testing of its 230-kilovolt, 653-megavolt-ampere (MVA) phase shifting transformer (PST). According to HD Hyundai's electrical equipment manufacturing unit, the supersized phase shifting transformer will be shipped by the end of August to a wind farm in New York, which is under construction by Invenergy, North America's largest privately held renewable power generation company. PSTs handling apparent power of 300 MVAs or more are generally categorized as supersized. HD Hyundai Electric said that its 653-MVA PST is Korea's largest in both size and apparent power it handles. A PST is a specialized transformer that helps maintain power supply stability by controlling the direction and magnitude of current flow during power transmission between electrical grids. Its advantage lies in enhancing the overall operational efficiency of the power system by ensuring the smooth flow of electricity. PSTs also optimize power usage when exchanging electricity between countries with different voltage systems or when integrating dir

Apr 2, 2025By Park Jae-hyuk
HD Hyundai Electric constructs Korea's largest phase shifting transformer
Companies

Hyundai, Kia post record March sales in US ahead of auto import tariffs

Hyundai Motor and its affiliate Kia reported record-breaking performances in the United States last month, extending their growth streak for the sixth consecutive month ahead of impending U.S. auto import tariffs, according to the companies Wednesday. Hyundai Motor's U.S. sales rose 13.1 percent on-year to 87,019 units last month, marking the best-ever performance in March and the company's second-highest monthly sales. The automaker attributed the growth to strong demand for key models, with sales of the Tucson sport utility vehicle (SUV) surging 28 percent, while those of the Elantra sedan and the Santa Fe SUV both jumped 25 percent on-year. Sales of the Palisade SUV also gained 20 percent, and those of the Ioniq 5 electric vehicle (EV) rose 17 percent. Hyundai's first-quarter sales totaled 203,554 units, up 10.1 percent from a year earlier, setting a new quarterly record. Kia also posted robust results, selling 78,540 units in March, up 13.1 percent from the same month last year. This also marked its best-ever March performance and the sixth straight month of on-year growth. Popular mod

Apr 2, 2025By Yonhap
Hyundai, Kia post record March sales in US ahead of auto import tariffs
Companies

Steelmakers search for answers to US protectionism

Major steelmakers in Korea have ramped up efforts to find their own solutions to Washington's 25 percent metal tariffs that took effect on March 12, as the government has yet to come up with practical countermeasures against the U.S. protectionist trade policy. While expressing their willingness to increase investments in the United States, these companies are also trying to curb the oversupply of low-priced Chinese products in the domestic market. Hyundai Steel has taken the most aggressive measures. The steelmaking unit of Hyundai Motor Group has already confirmed its $5.8 billion investment in the U.S. to build an electric arc furnace-based integrated steel mill in Louisiana, which will have an annual production capacity of 2.7 million tons. With the aim of beginning commercial production by 2029, the company seeks to use the new steel mill to supply steel sheets to U.S. factories of Hyundai Motor and Kia, as well as to American and European carmakers. "This investment is a clear demonstration that tariffs very strongly work," U.S. President Donald Trump said at the White House on Marc

Apr 2, 2025By Park Jae-hyuk
Steelmakers search for answers to US protectionism
Banking & Finance

Longer trading hours lauded Nextrade's biggest benefit

A month after its launch as Korea’s first alternative stock exchange, Nextrade's benefits and drawbacks have come to light as it tries to improve securities trading by breaking Korea Exchange's (KRX) long-standing monopoly, market watchers said Tuesday. The longer trading hours appear to be the biggest benefit that Nextrade offers so far, especially for salaried workers who struggled to find time to buy and sell stocks as retail investors during working hours. “We indeed take it as a compliment that most of our customers are individual investors, in our goal of providing investors with diverse trading options,” a Nextrade official said. His comment came after data showed retail investors accounted for 97.8 percent of Nextrade transactions after its March 4 launch. “Such ratio is noteworthy, and we reckon extended trading hours are attracting retail investors successfully,” the official said, noting they made up less than 50 percent of the transaction amount at the benchmark KOSPI by the end of 2024. He also noted that Nextrade operates from 8 a.m. to 8 p.m. on weekdays, longer t

Apr 1, 2025By Yi Whan-woo
Longer trading hours lauded Nextrade's biggest benefit
Companies

LG Energy to acquire GM's stake in Michigan battery plant

LG Energy Solution (LGES), Korea’s leading battery maker, said Tuesday it will acquire General Motors’ entire stake in their joint-venture battery plant in Michigan for 3 trillion won ($2.03 billion). The acquisition of Ultium Cells joint venture's third plant in Lansing, Michigan, aims to reduce the burden of new facility investments and enhance operational efficiency at LGES's U.S. plants, the company added. LGES and GM have been building the 50-50 joint venture plant with plans to begin operations later this year. "The final contract amount may be lower than initially announced, and since it is a joint venture, the actual execution cost will be half of the total contract amount," LGES said in a statement. "The execution cost is already included in the capital expenditure plan announced earlier this year, so no additional investment costs will be required." Earlier this year, LGES said it would reduce facility investments by 20 to 30 percent compared to 13 trillion won in 2023. GM announced in December that it planned to sell its stake in the Lansing plant to LGES as it adjusted its

Apr 1, 2025By Park Jae-hyuk
LG Energy to acquire GM's stake in Michigan battery plant
Business

Samsung Electronics appoints Roh Tae-moon as acting head of device division

Samsung Electronics announced Tuesday President Roh Tae-moon has been appointed as the acting head of its TV, mobile and home appliances division, filling the vacancy left by the late Vice Chairman Han Jong-hee, who passed away last week. Roh will lead the company's Device eXperience (DX) division, which Han previously oversaw, according to Samsung Electronics. Additionally, he will assume the role of chairman of the Quality Innovation Committee, a position also previously held by Han. Samsung Electronics said the appointment aims to minimize the leadership gap and stabilize the organization as quickly as possible. A renowned expert in smartphone development, Roh has played a key role in the success of Samsung Electronics' Galaxy brand. He has led the company's mobile division since 2020. (Yonhap)

Apr 1, 2025By Yonhap
Samsung Electronics appoints Roh Tae-moon as acting head of device division
Banking & Finance

Woori Bank opens Polish branch as part of Europe expansion drive

Woori Bank opened a branch in Warsaw, Poland, Monday (local time), as part of its continued expansion drive into Europe, the lender said Tuesday. The new branch will fortify Woori’s presence in Eastern Europe. Its London branch remains a key foreign currency credit line, while the Frankfurt branch is a hub for corporate financing. The Warsaw branch will accelerate Woori's business expansion beyond Poland, further into Hungary, the Czech Republic, Slovakia and Romania, where many Korean companies operate. Poland is a manufacturing and logistics hub in Eastern Europe, with strong growth potential due mostly to its geographical location. Woori expects the new branch will integrate and complement work previously handled by one set up in 2017 in the southwestern industrial city of Katowice. “Poland is emerging as a key area of focus for Korean firms in defense, electric vehicles and rechargeable batteries manufacturing,” a Woori official said. “The reconstruction of war-torn Ukraine is of business interest to many.” Woori was cleared by the Polish regulators to establish the new branc

Apr 1, 2025By Lee Kyung-min
Woori Bank opens Polish branch as part of Europe expansion drive
Companies

US ramps up pressure on Korea ahead of reciprocal tariffs

Korea will hold additional negotiations with the United States to ease intensifying trade pressure on a range of issues, including domestic regulations on online platform firms, beef imports and network usage fees, officials from multiple government authorities said Tuesday. The U.S. Trade Representative (USTR) cited these items as major nontariff barriers to trade, urging Korea to amend relevant regulations that "distort or undermine fair competition," according to the 2025 National Trade Estimate Report it released on Monday (local time). This has heightened trade uncertainties in Korea, as the report comes at a critical juncture, with U.S. President Donald Trump expected to announce reciprocal tariffs soon. Trump has reaffirmed his plan to unveil details on each country’s reciprocal tariffs on April 2. Korea’s Ministry of Trade, Industry and Energy said it will engage in working-level talks with its U.S. counterpart and discuss details via a joint committee meeting under the Korea-U.S. Free Trade Agreement. “The trade ministry will conduct an in-depth analysis of the issues rais

Apr 1, 2025By Lee Min-hyung
US ramps up pressure on Korea ahead of reciprocal tariffs
Companies

FILA Holdings rebrands as Misto Holdings

FILA Holdings has officially changed its name to Misto Holdings, aiming to strengthen its position as a global brand portfolio company, the company announced Tuesday. The change was approved at a shareholders' meeting the previous day. The name FILA Holdings had been closely associated with the FILA brand, limiting perceptions of the company’s broader portfolio, which includes FILA, Titleist, FootJoy, Scotty Cameron and others, as well as its role in global brand management, the company said. The new name better reflects the company’s strategic approach to managing its diverse portfolio while ensuring that each brand retains its independence and unique identity. "Misto," derived from the Italian words for “harmony,” “blend” and “diversity,” symbolizes the company’s global brand portfolio. The name change represents more than just a rebranding; it signals a renewed vision for growth. To support this transformation, the company introduced four core values: synergy, empowerment, resilience and responsibility. The values reflect Misto Holdings' commitment to fostering syner

Apr 1, 2025By Nam Hyun-woo
FILA Holdings rebrands as Misto Holdings
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