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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

Overseas carmakers in Korea sandwiched by influx of ultra-cheap BYD EVs

BYD Korea will ratchet up pressure on overseas carmakers here — particularly non-luxury brands with limited electric and hybrid lineups — as they are at growing risk of losing their identity as cost-effective carmakers amid the upcoming influx of ultra-cheap Chinese vehicles, experts and industry officials said Tuesday.

Jan 22, 2025By Lee Min-hyung
Overseas carmakers in Korea sandwiched by influx of ultra-cheap BYD EVs
Banking & Finance

Corporate mascots emerge as key marketing tool for financial groups

The regulatory approval from financial authorities for financial holding groups to commercialize their brand mascots has led to a surge in marketing activities. By crafting engaging stories around their respective characters, these groups aim to challenge the stereotype of being conservative and rigid.

Jan 22, 2025By Lee Yeon-woo
Corporate mascots emerge as key marketing tool for financial groups
Companies

Woojin secures multiple train car production deals

Woojin Industrial Systems has inked a series of deals for producing train cars over the past two months.

Jan 21, 2025By Jhoo Dong-chan
Woojin secures multiple train car production deals
Banking & Finance

FSS governor meets CEOs of foreign financial firms

Lee Bok-hyun, center, governor of the Financial Supervisory Service (FSS), poses with CEOs of 10 foreign financial companies, including Hans Vranken, fourth from left, CEO of AXA General Insurance, and Ha Jin-soo, third from right, co-branch manager of J.P. Morgan Securities, at FSS headquarters in Seoul, Tuesday. During the meeting, Lee urged the CEOs to focus on their business activities, and trust in the resilience of the Korean financial market and the capabilities of the policy authorities amid internal and external uncertainties. Courtesy of FSS

Jan 21, 2025By Jun Ji-hye
FSS governor meets CEOs of foreign financial firms
Companies

Shinsegae chairman meets tech leaders before attending Trump's inauguration event

Chung Yong-jin, chairman of Korean retail conglomerate Shinsegae Group, met with U.S. government officials and tech leaders to strengthen his global business network before attending President Donald Trump's inauguration ceremony, his company said Tuesday.

Jan 21, 2025By Yonhap
Shinsegae chairman meets tech leaders before attending Trump's inauguration event
Banking & Finance

Court's decision prohibits cumulative voting at Korea Zinc, MBK gains upper hand

A Seoul court ruled in favor of the alliance of private equity firm MBK Partners and Young Poong, Tuesday, concluding that Korea Zinc’s directors cannot be appointed through a cumulative voting system at the firm’s extraordinary shareholders’ meeting scheduled for Thursday.

Jan 21, 2025By Jun Ji-hye
Court's decision prohibits cumulative voting at Korea Zinc, MBK gains upper hand
Companies

Top chefs bring culinary twist to Korea's competitive burger market

Celebrity chefs are rolling up their sleeves to infuse their culinary ideas into new menu items for major burger brands in Korea.

Jan 21, 2025By Ko Dong-hwan
Top chefs bring culinary twist to Korea's competitive burger market
Companies

Korea remains vigilant as Trump revokes Bidenomics

Korea’s top economic policymakers have closely monitored the potential impacts of U.S. President Donald Trump’s series of executive orders, most of which aim to put a stop to his predecessor’s policies.

Jan 21, 2025By Park Jae-hyuk
Korea remains vigilant as Trump revokes Bidenomics
  • Korean currency gains on delayed Trump tariff expectations
Banking & Finance

Ex-Woori chairman indicted over improper loans taken out by relatives

Former Woori Financial Group Chairman Son Tae-seung was indicted on Tuesday, over his alleged involvement in more than 50 billion won ($34.73 million) of improper loans taken out by his relatives when he was in office.

Jan 21, 2025By Yi Whan-woo
Ex-Woori chairman indicted over improper loans taken out by relatives
Companies

Direct suppliers to Hyundai Motor, Kia achieve W90 tril. in combined sales for 1st time

Tier 1 suppliers, otherwise known as direct suppliers to Hyundai Motor and Kia, achieved combined sales of 90 trillion won ($63.45 billion) in 2023, which the automakers hailed as a landmark contribution to boosting the sluggish domestic economy, according to data from both firms released on Tuesday.

Jan 21, 2025By Lee Min-hyung
Direct suppliers to Hyundai Motor, Kia achieve W90 tril. in combined sales for 1st time
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