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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

    Korean president, Samsung Electronics chief discuss chip cluster investment in southern region

    2 MIN READBy Yonhap
    Korean president, Samsung Electronics chief discuss chip cluster investment in southern region
  • Companies

    Transport ministry approves Korean Air's integration with Asiana Airlines

    1 MIN READBy Yonhap
    Transport ministry approves Korean Air's integration with Asiana Airlines
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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

Washington vs. Davos: Shipbuilding rivals take different paths, again

Korea’s two rival shipbuilders highlighted the contrast in their main priorities once again, choosing different overseas events as the destinations of their heirs’ business trips this week.

Jan 23, 2025By Park Jae-hyuk
Washington vs. Davos: Shipbuilding rivals take different paths, again
Banking & Finance

Woori Financial tightens lending rules for executives' relatives

Woori Financial Group tightened its lending rules to prevent relatives of its executives from taking out loans improperly, it said Thursday.

Jan 23, 2025By Yi Whan-woo
Woori Financial tightens lending rules for executives' relatives
Companies

Preparation for APEC CEO Summit

Korea Chamber of Commerce and Industry (KCCI) and SK Group Chairman Chey Tae-won, front row center, poses with Minister of Trade, Industry and Energy Ahn Duk-geun, front row third from right, HS Hyosung Vice Chairman Cho Hyun-sang, front row third from left, and CEOs of leading Korean companies during a ceremony marking the launch of a promotion committee for the 2025 APEC CEO Summit at the KCCI’s office in Seoul, Thursday. This year's APEC summit is scheduled to take place in Gyeongju, North Gyeongsang Province. The Chey-led committee, consisting of 20 members, including CEOs from 13 companies and advisers from the APEC Business Advisory Council, will focus on inviting prominent global economic figures and promoting the summit worldwide. Courtesy of Ministry of Trade, Industry and Energy

Jan 23, 2025By Ko Dong-hwan
Preparation for APEC CEO Summit
Tech & Science

SK hynix becomes most profitable Korean company in Q4 2024

SK hynix posted multiple record highs in its 2024 earnings, boosted by the robust sales of its high-bandwidth memory (HBM) chips tailored specifically for artificial intelligence (AI) computing.

Jan 23, 2025By Nam Hyun-woo
SK hynix becomes most profitable Korean company in Q4 2024
Banking & Finance

US stocks continue to outperform global peers: AllianceBernstein

The U.S. stock market will continue to outperform other world markets in 2025, AllianceBernstein, a global investment firm, said Thursday. Rather than the large-cap tech stocks that fueled growth in 2024, it identified opportunities in undervalued sectors, such as industrials and health care.

Jan 23, 2025By Lee Yeon-woo
US stocks continue to outperform global peers: AllianceBernstein
Business

Gov't strengthens housing support for foreign victims of 'jeonse' fraud

The government extended the maximum period of temporary housing for foreign victims of "jeonse" fraud in the country from two years to six, further enhancing emergency support for victims in need of housing, the Ministry of Land, Infrastructure and Transport said Thursday.

Jan 23, 2025By Ko Dong-hwan
Gov't strengthens housing support for foreign victims of 'jeonse' fraud
Banking & Finance

Hanwha Life signs MOUs with global investment firms at Davos forum

Hanwha Life has signed a series of partnerships with global investment firms, including SoftBank Ventures Asia (SBVA) and Celadon Partners, on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, the company said Thursday.

Jan 23, 2025By Jun Ji-hye
Hanwha Life signs MOUs with global investment firms at Davos forum
Companies

Gov't to tighten oversight on low-cost carriers following Jeju Air crash

Korea plans to strengthen its oversight of low-cost carriers (LCCs) and impose strict penalties on airlines failing to meet enhanced operational safety standards, the government said Thursday, following last month's Jeju Air crash.

Jan 23, 2025By Yonhap
Gov't to tighten oversight on low-cost carriers following Jeju Air crash
Companies

INTERVIEW Teeniepings extend Korean animation's global popularity

SAMG Entertainment, the owner of the intellectual property (IP) for the 3D animation brand "Catch! Teenieping," is optimistic about its future growth. The series' fictional characters have garnered a significant fan base — primarily children — in the country and the company has exported the IP to more than 140 countries. The brand, launched in 2020, has seen its domestic popularity expand globally.

Jan 23, 2025By Ko Dong-hwan
[INTERVIEW] Teeniepings extend Korean animation's global popularity
Companies

Seoul subway fares to rise amid KORAIL's deficit operations

Metro services across Seoul, Incheon and Gyeonggi Province will raise fares by 150 won ($0.10) within the first half of this year, according to the Seoul Metropolitan Government and Korea Railroad (KORAIL), Wednesday. KORAIL is the country’s state-run railway operator, running KTX bullet train service across the country, as well as other railway services and subway services across the capital region.

Jan 23, 2025By Ko Dong-hwan
Seoul subway fares to rise amid KORAIL's deficit operations
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