Business

Lotte to showcase value chain for eco-friendly energy at Seoul Mobility Show

Lotte Group will attend Korea’s largest mobility exhibition for the first time to showcase its eco-friendly energy value chain identified as the firm’s next major growth engine, the company said Tuesday. Lotte is best known for its retail expertise, but the firm’s chemical and energy affiliates will introduce a blueprint for the group-wide mobility business by joining the upcoming Seoul Mobility Show running for 11 days starting Thursday in Goyang, Gyeonggi Province. The participating Lotte affiliates include Lotte Chemical, Lotte Energy Materials and Lotte Infracell. They will display details on the group's mobility vision featuring eco-friendly energy, autonomous driving and electric vehicle (EV) chargers. The group is scheduled to set up booths under the theme of L.Mobility Panorama, so visitors can have a clear understanding of its future-oriented mobility value chain, the company said. The exhibition halls for Lotte consist of three sub-concepts: mobility technology, self-driving and hydrogen value chain. At the mobility zone, the company plans to promote its battery materials

Apr 1, 2025By Lee Min-hyung

Lotte to showcase value chain for eco-friendly energy at Seoul Mobility Show

Companies

Hotel Shilla's hanok hotel project delayed amid duty free sales slump

Hotel Shilla’s plan to build a new hotel in Seoul, designed in the traditional Korean "hanok" style, is on hold as the company struggles with declining sales, primarily in its duty free retail division. Although the company launched its ambitious 300 billion won ($204 million) project in 2011, construction has yet to progress due to multiple setbacks. The hotel’s construction remains indefinitely on hold, according to a senior official from the hotel and resort division of Samsung Group. He said that only land preparation has been completed. "Only roads have been cleared at the site so far. The project's main construction phase has not yet begun," the official said. "We will issue a public disclosure once we decide on any further action regarding the project." The official said the company is currently in a financially bad situation, and the project will resume after the problem is resolved. "About 80 percent of our sales come from duty free stores, with the rest from our hotel business," the official added. "The decline in duty free sales has significantly impacted our overall revenu

Apr 1, 2025By Ko Dong-hwan

Hotel Shilla's hanok hotel project delayed amid duty free sales slump

Banking & Finance

INTERVIEW Toss aims to be top guide for retail investors trading US stocks: head researcher

A record number of Korean retail investors are increasing their holdings in U.S. stocks. Still, it is hard to find high-quality, in-depth market research papers that are easy to understand, especially for those without professional knowledge in finance. This, according to Toss Securities Research Center lead Lee Young-gon, begs the question, “Why do the average investors have to get buried under mountains of papers full of complex jargon and that are hard to make it through to the end?” Stock reports should be easy to read, Lee said in a recent interview with The Korea Times. “Many existing research reports are quite difficult and unfriendly for many." The reports seek to provide in-depth insights but tend to be overly complex, making it harder for retail investors to understand. “We are focused on making our content easier, even for average investors without deep knowledge in finance," he said. "Our goal is to balance depth with clarity so that our readers can comprehend the material without feeling overwhelmed." Underpinning the objective is a division of labor between analysts an

Apr 1, 2025By Lee Kyung-min

[INTERVIEW] Toss aims to be top guide for retail investors trading US stocks: head researcher

Banking & Finance

Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

Korean private equity firm Hahn & Company (Hahn & Co.) said Tuesday it has finalized the acquisition of an 85 percent stake in SK Specialty from SK Corp. for approximately 2.6 trillion won ($1.8 billion), three months after signing a stock purchase agreement in December. SK Specialty is a world leader in producing specialty gases crucial for semiconductor and display panel production. It holds the largest global market share in nitrogen trifluoride and tungsten hexafluoride, essential materials for advanced semiconductors. Through this acquisition, the private equity firm has bolstered its advanced manufacturing portfolio by adding a global leader in semiconductor materials. The firm secured an 85 percent stake in SK Specialty, while SK Corp. chose to keep the remaining 15 percent, recognizing the company’s growth potential. “We are proud to acquire SK Specialty, a global leader in specialty gases and a vital contributor to industries like semiconductors,” a Hahn & Co. official said. “We are committed to making significant investments to enhance SK Specialty’s technological edg

Apr 1, 2025By Jun Ji-hye

Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

Companies

6 in 10 Korean manufacturers say US tariffs will impact their biz, survey shows

Six out of 10 Korean manufacturers expect the tightening U.S. tariffs to have direct or indirect impacts on their businesses, a survey showed Tuesday. Nearly half of them said they are still "monitoring developments," even as the U.S. prepares to announce reciprocal taxes on Wednesday. According to the poll by the Korea Chamber of Commerce and Industry (KCCI), 60.3 percent of 2,107 manufacturers across the country said they are under the impact of new U.S. tariffs. The poll surveyed companies from Feb. 21 to March 7. Among the respondents, 46.3 percent said they are facing indirect impacts, while 14 percent said they will be directly affected by the tariffs. Among the Donald Trump administration’s tariff measures announced so far, three are expected to pose direct impacts on the Korean economy. The United States has been imposing a 25 percent tariff on steel since March 12 and will slap a 25 percent tariff on fully assembled vehicles manufactured outside the U.S. beginning Thursday. On Wednesday, the administration is set to announce reciprocal tariffs against U.S. trading partners, me

Apr 1, 2025By Nam Hyun-woo

6 in 10 Korean manufacturers say US tariffs will impact their biz, survey shows

Companies

Hyundai warns US dealers of possible price hikes amid 25% tariffs

Korean automaker Hyundai warned U.S. dealers it is evaluating its pricing strategy in the face of forthcoming 25 percent tariffs on imported vehicles and parts announced by President Donald Trump. Randy Parker, chief executive officer of Hyundai and Genesis Motor North America, told dealers in a note that "current vehicle pricing is not guaranteed and may be subject to change for units wholesaled after April 2." Analysts expect automakers will have to significantly hike vehicle prices if the new tariffs remain in place for an extended period, leaving consumers to pay more for vehicles that already have price tags averaging near $50,000. Cox Automotive estimates that 25 percent tariffs will add $3,000 to the cost of a U.S.-made vehicle and $6,000 to vehicles made in Canada or Mexico. "Tariffs are not easy," Parker told dealers. Parker also said the automaker is "fortunate that we do not depend heavily on imports from Mexico and Canada, and we have been sure footed in our U.S. investments." Hyundai announced a $21 billion investment in the United States with the president at the White House

Apr 1, 2025By Reuters

Hyundai warns US dealers of possible price hikes amid 25% tariffs

Companies

Acting president vetoes bill expanding corporate directors' fiduciary duty to include shareholders

Acting President Han Duck-soo on Tuesday vetoed an opposition-led bill expanding the fiduciary duty of corporate directors from solely the "company" to both the "company and its shareholders." The amendment to the Commercial Act, which was passed by the opposition-controlled National Assembly last month, was vetoed by Han at a Cabinet meeting and will be sent back to parliament for a revote. In addition to expanding corporate directors' fiduciary duties, the bill mandates the adoption of electronic shareholder meetings for listed companies. "I deeply agree with the basic spirit of the bill," Han said at the meeting. "However, given the large influence this bill can have on the business environment and competitiveness of not only big companies, but the majority of companies, including small and medium-sized enterprises, I determined there was a need to find an alternative solution that minimizes the side effects through more in-depth discussions, and following serious reflection, intend to demand the National Assembly's reconsideration." Han said that while the bill appears to be aimed at

Apr 1, 2025By Yonhap

Acting president vetoes bill expanding corporate directors' fiduciary duty to include shareholders

Tech & Science

France fines Apple 150 million euros over privacy feature

French antitrust authorities handed Apple a 150-million-euro ($162-million) fine on Monday over its app tracking privacy feature, which is also under scrutiny in several other European countries. The watchdog said the way Apple implemented its App Tracking Transparency (ATT) software was "neither necessary nor proportionate to the company's stated goal to protect user data" and also penalized third-party publishers. In addition to the fine, Apple will have to publish the decision on its website for seven days. Authorities in Germany, Italy, Romania and Poland have opened similar probes over ATT, which Apple promotes as a privacy safeguard. The fine is the latest by a European regulator against a US tech giant, even as President Donald Trump has threatened to impose tariffs in response to such penalties. "While we are disappointed with today's decision, the French Competition Authority has not required any specific changes to ATT," Apple said in a statement. The authority said it was up to the U.S. company to ensure compliance. The feature, introduced by Apple in 2021, requires apps to obtai

Mar 31, 2025By AFP

France fines Apple 150 million euros over privacy feature

Banking & Finance

INTERVIEW Demand for Korea Treasury bonds robust due to WGBI inclusion optimism: MarketAxess, NHIS

Demand for Korea Treasury Bonds (KTBs) has been and will continue to be robust from foreign sovereign wealth funds, pension funds, central banks and asset managers, according to MarketAxess, a U.S. electronic trading platform for the institutional credit markets, and NongHyup Investment and Securities (NHIS) on Tuesday. Underpinning the optimism is Korea’s relative strength in fiscal soundness, market maturity and transparency, as well as long-term structural growth trends, they said. Also at play is Korea’s inclusion in the World Government Bond Index (WGBI), operated by the London-based FTSE Russell. An inflow of up to $67 billion (98 trillion won) in offshore investor funds is expected in November if included. The finance ministry said government efforts would continue reassuring offshore investors of KTB investments' strengths. Second Vice Minister of Economy and Finance Kim Yoon-sang held a virtual meeting on Tuesday with more than 130 global investment bankers, asset managers, insurers and hedge funds from London, Hong Kong, Singapore and Japan. Included were BlackRock and JPMo

Mar 31, 2025By Lee Kyung-min

[INTERVIEW] Demand for Korea Treasury bonds robust due to WGBI inclusion optimism: MarketAxess, NHIS

Companies

Hanwha chairman to transfer control to 3 sons

Hanwha Group Chairman Kim Seung-youn is set to transfer half of his controlling stake in the group’s holding firm, Hanwha Corp., to his three sons, making them the largest collective stakeholder in the conglomerate that spans the defense, construction, energy and finance sectors. According to Hanwha Corp.’s regulatory filings, Kim will grant half of his 22.65 percent stake in the company, or 11.32 percent, to his three sons. The eldest son, Hanwha Group Vice Chairman Dong-kwan, will receive 4.86 percent, and the second and third sons, Hanwha Life Insurance President Dong-won and Hanwha Galleria Vice President Dong-seon, will each receive 3.23 percent. The transaction is set to take place on April 30. Following the transfer, Hanwha Corp.’s largest shareholder will be Hanwha Energy, with 22.16 percent, followed by Kim with 11.33 percent, his son Dong-kwan with 9.77 percent and the two other sons who will each hold 5.37 percent. Since Hanwha Energy is fully owned by the three sons, the transfer will raise the sons’ combined stake in Hanwha Corp. up to 42.67 percent, making them the

Mar 31, 2025By Nam Hyun-woo

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

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

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

Hyundai Motor set to open advanced service center in Gyeonggi Province

Winners of the 22nd Economic Essay Contest

Business

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

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

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

Hyundai Motor set to open advanced service center in Gyeonggi Province

Winners of the 22nd Economic Essay Contest

Read more

Lotte to showcase value chain for eco-friendly energy at Seoul Mobility Show

Hotel Shilla's hanok hotel project delayed amid duty free sales slump

INTERVIEW Toss aims to be top guide for retail investors trading US stocks: head researcher

Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

6 in 10 Korean manufacturers say US tariffs will impact their biz, survey shows

Hyundai warns US dealers of possible price hikes amid 25% tariffs

Acting president vetoes bill expanding corporate directors' fiduciary duty to include shareholders

France fines Apple 150 million euros over privacy feature

INTERVIEW Demand for Korea Treasury bonds robust due to WGBI inclusion optimism: MarketAxess, NHIS

Hanwha chairman to transfer control to 3 sons

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