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    Hyundai Motor union set to leverage strike against Atlas robot deployment

    Hyundai Motor’s labor union is poised to use a potential strike as leverage to secure job protections against the carmaker’s planned deployment of Atlas humanoid robots in its manufacturing operations. More than 86 percent of the carmaker’s roughly 40,000 union members voted in favor of the walkout, Wednesday, setting the stage for a contentious showdown over wages, job security and the upcoming robot deployment. The union also gained the legal right to go ahead with the strike, Thursday, after a state labor mediation committee decided to suspend its arbitration process between the two sides. While the carmaker’s annual wage negotiation has typically revolved around compensation, this year’s talks have hit a roadblock over a new core agenda on manufacturing automation amid the rise of physical artificial intelligence (AI). Earlier this year, Hyundai Motor Group unveiled its plan to gradually deploy Boston Dynamics’ Atlas humanoid robots across its major production lines here and abroad, which has drawn severe backlash from its union. Starting from 2028, the carmaker is schedul

    3 MIN READBy Lee Min-hyung
    Hyundai Motor union set to leverage strike against Atlas robot deployment
  • Business

    HD Hyundai, LS, SK hit pause on IPO plans as Korea delays dual-listing rules

    2 MIN READBy Lee Yeon-woo
    HD Hyundai, LS, SK hit pause on IPO plans as Korea delays dual-listing rules
  • Companies

    JoongAng Group's fate split between court, creditors

    3 MIN READBy Jun Ji-hye
    JoongAng Group's fate split between court, creditors
  • Companies

    US congressional staff visit Korea Zinc smelter, underscore supply chain ties

    2 MIN READBy Lee Gyu-lee
    US congressional staff visit Korea Zinc smelter, underscore supply chain ties
  • Companies

    Hyundai Motor unveils redesigned AI-driven Avante sedan

    3 MIN READBy Lee Min-hyung
    Hyundai Motor unveils redesigned AI-driven Avante sedan
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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

DPK excludes key business association from discussion on Trump policies

The Federation of Korean Industries (FKI) was excluded on Wednesday from a discussion between the main opposition Democratic Party of Korea (DPK), business associations and the nation's four largest conglomerates on Washington's protectionist policies, despite the federation's close relationship with U.S. President Donald Trump's aides.

Feb 5, 2025By Park Jae-hyuk
DPK excludes key business association from discussion on Trump policies
Banking & Finance

KakaoBank achieves record-high earnings in 2024, driven by growth of non-interest income

KakaoBank recorded an operating profit of 606.9 billion won ($418 million) and a net income of 440.1 billion won last year, driven by growth in non-interest income, fees and platform businesses. This marks an all-time high, representing year-over-year increases of 26.8 percent and 24 percent, respectively, the company said Wednesday.

Feb 5, 2025By Jun Ji-hye
KakaoBank achieves record-high earnings in 2024, driven by growth of non-interest income
Companies

Korea ranks No. 5 in global R&D investment

Korea ranked No. 5 in terms of the amount of research and development (R&D) investments by the country’s businesses in 2023, with Samsung Electronics standing as the world’s top R&D investor in the chip industry, a report on the world’s top 2,000 investors showed on Wednesday.

Feb 5, 2025By Nam Hyun-woo
Korea ranks No. 5 in global R&D investment
Tech & Science

Potential massive fines weigh on Korean telecoms firms

Korea’s three mobile carriers face huge uncertainties in their efforts to reshape their portfolios for artificial intelligence (AI) services, as the country’s antitrust authority is considering imposing a combined 5.5 trillion won ($3.79 billion) in fines due to allegations of colluding to coordinate sales incentives for retailers.

Feb 5, 2025By Nam Hyun-woo
Potential massive fines weigh on Korean telecoms firms
Companies

Is ESG losing relevance among major Korean companies?

Major Korean companies have reorganized and renamed the departments responsible for an investing principle that prioritizes environmental, social and corporate governance (ESG).

Feb 5, 2025By Park Jae-hyuk
Is ESG losing relevance among major Korean companies?
Companies

Krafton invests in Indian fintech firm Cashfree Payments

Krafton, the Korean gaming company behind popular shooter title PUBG: Battlegrounds, said Wednesday it has invested in Indian fintech firm Cashfree Payments as part of its continued push into India's digital economy.

Feb 5, 2025By Yonhap
Krafton invests in Indian fintech firm Cashfree Payments
Banking & Finance

Will Samsung Fire & Marine become subsidiary of Samsung Life?

Samsung Life Insurance is reviewing a plan to make Samsung Fire & Marine Insurance its subsidiary following the latter’s recent announcement of corporate value enhancement strategies, according to industry sources, Wednesday.

Feb 5, 2025By Jun Ji-hye
Will Samsung Fire & Marine become subsidiary of Samsung Life?
Companies

Ban on online sales of soju, beer sparks complaints amid surge in imported alcohol

Korea's soju and beer companies claim the ban on online liquor sales is hurting their market competitiveness, as imported liquors have grown their pies in the market.

Feb 5, 2025By Ko Dong-hwan
Ban on online sales of soju, beer sparks complaints amid surge in imported alcohol
Tech & Science

Acting President Choi says DeepSeek 'fresh shock,' causing industrial changes

Acting President Choi Sang-mok said Wednesday that DeepSeek has emerged as a "fresh shock," forecasting that the latest artificial intelligence (AI) model from the Chinese startup could reshape the industrial landscape.

Feb 5, 2025By Yonhap
Acting President Choi says DeepSeek 'fresh shock,' causing industrial changes
Companies

INTERVIEW HanmiGlobal expands presence in asset management

"Difficulty" and "uncertainty" were the keywords HanmiGlobal Chairman Kim Jong-hoon used in his New Year address to describe this year's market environment.

Feb 5, 2025By Park Jae-hyuk
[INTERVIEW] HanmiGlobal expands presence in asset management
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