my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Samsung considers appealing UK ruling over Swatch watch face suit

    Samsung Electronics said Thursday it is considering “all possible countermeasures, including an appeal” to a U.K. High Court’s decision to pay Swatch Group $11.6 million in damages for hosting smartwatch watch face designs that replicated the Swatch brands on its Galaxy app store. “We are carefully considering the High Court's judgment and will consider all possible countermeasures, including an appeal,” Samsung said in a statement. The High Court in London ruled Wednesday (local time) that Samsung should pay damages to the Swiss watchmaker as watch face apps developed by third parties have copied watch face designs of Swatch brands such as Breguet, Blancpain, Omega, Longines and Tissot. The ruling was for far less than the $170 million (235.7 billion won) in damages that Swatch Group initially sought, but far higher than Samsung’s claim that it gained only $300 by selling the watch face apps and that Swatch did not suffer any damage. According to local media reports, the court ruled that the majority of the damages were specifically for display infringement that harmed Swatc

    2 MIN READBy Nam Hyun-woo
    Samsung considers appealing UK ruling over Swatch watch face suit
  • Tech & Science

    Koreans' level of AI utilization 1.7 times the global average: report

    1 MIN READBy Yonhap
    Koreans' level of AI utilization 1.7 times the global average: report
  • Companies

    Hybrid becomes Hyundai Motor's new US strategy

    2 MIN READBy Lee Min-hyung
    Hybrid becomes Hyundai Motor's new US strategy
  • Companies

    LG Uplus leads digital customer experience ranking for 3rd straight year

    1 MIN READBy Lee Kyung-min
    LG Uplus leads digital customer experience ranking for 3rd straight year
  • Banking & Finance

    Mirae Asset sets $109 bil. target for digital asset business

    2 MIN READBy Park Han-sol
    Mirae Asset sets $109 bil. target for digital asset business
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Companies

Samsung Electronics ranks No. 1 in economic contribution among conglomerates: data

Samsung Electronics generated the largest economic value among Korea's 100 biggest companies in 2025, industry data showed Wednesday. The tech giant's total economic contribution reached 177.25 trillion won ($116.67 billion) last year, up 12.5 percent from a year earlier, according to data compiled by CEO Score. The figure, which measures a company's overall economic contribution through payments to employees, suppliers, shareholders, creditors, the government and society, is based on business reports filed by the country's 100 largest non-financial, privately owned companies by sales. Samsung Electronics far outpaced its peers, with Hyundai Motor Group ranking second at 122.24 trillion won in total economic contributions. Samsung Electronics also topped the list in shareholder returns. The company returned a combined 14.16 trillion won to shareholders last year, consisting of 11.11 trillion won in dividends and 3.05 trillion won in share cancellations, according to the data. It was the only company among the top 100 to exceed 10 trillion won in shareholder returns.

Jul 8, 2026By Yonhap
Samsung Electronics ranks No. 1 in economic contribution among conglomerates: data
Companies

Gov't rush on new nuclear power plants for chip cluster unrealistic

The government's plan to build a massive semiconductor cluster in southwestern Korea to house chip plants for Samsung Electronics and SK hynix is facing growing questions over whether sufficient power can be secured. The Lee Jae Myung government is increasingly moving away from its initial policy stance of maintaining the status quo on nuclear power, acknowledging that renewable energy alone cannot meet the project's electricity needs and arguing that additional nuclear power plants are needed. The challenge is that building nuclear power plants is as complicated and time-consuming as constructing semiconductor fabs. New reactors must clear environmental assessments and address potential opposition from local residents near transmission grids and other facilities, making it uncertain whether additional power generation is possible before the current memory chip upcycle fades or before Lee's term ends. According to government officials, the government is considering building four additional nuclear reactors. Earlier this month, Minister of Climate, Energy and Environment Kim Sung-hwan sa

Jul 8, 2026By Nam Hyun-woo
Gov't rush on new nuclear power plants for chip cluster unrealistic
Tech & Science

China's DeepSeek developing its own AI chip, sources say

Chinese startup DeepSeek is developing its own AI chip, according to three people familiar with the matter, a push that could reduce its reliance on Nvidia and Huawei chips, which it has depended on to train and run its globally popular models. The chip is designed for inference — the stage of AI computing in which a trained model generates responses for users — rather than for training new models, the sources said. If successful, DeepSeek's expansion into semiconductor development would mark a major strategic shift for a company widely hailed in China as the country's AI champion, potentially adding to challenges faced by Chinese tech giant Huawei. Shares of U.S.-based Nvidia slipped about 2 percent in premarket trading. DeepSeek rose to global fame more than a year ago after releasing two highly efficient AI models that went viral worldwide, surprising many in Silicon Valley and Washington. The company has long been known for emphasizing AI model breakthroughs rather than commercializing its technology. Although Huawei's offerings still lag Nvidia's most advanced chips by a wide marg

Jul 7, 2026By Reuters
China's DeepSeek developing its own AI chip, sources say
Tech & Science

Kling AI spotlights advances in AI video through global competition

Kling AI, the artificial intelligence (AI) video arm of Chinese short‑form giant Kuaishou, held its NEXTGEN Awards Ceremony on Tuesday, spotlighting how AI‑native filmmaking is lowering barriers to professional production and pushing generative video models into the mainstream for a new generation of creators. Co-hosted with MBC C&I’s AI Contents Lab and the Korean Society for Media Policy Studies (KSMPS), the event brought together winners from the company’s three competitions — the NEXTGEN 2026 Korea University Creative Challenge, the NEXTGEN Campus AIGC Creation Competition in China and the Global 4K Short Film Creative Contest — held throughout the first half of this year. The competitions were designed to encourage creators to transform ideas into cinematic‑quality visual content using Kling AI's video‑generation models. Together, the university contests attracted more than 12,700 submissions from nearly 30 universities across Korea and China, while the global 4K competition, open to creators worldwide, drew entries from about 9,000 creators. “We have always believ

Jul 7, 2026By Lee Gyu-lee
Kling AI spotlights advances in AI video through global competition
Banking & Finance

Korea Investment Corp. opens Tokyo office to expand Asia-Pacific presence

Korea Investment Corp. (KIC), the country’s sovereign wealth fund, has opened its sixth overseas outpost in Tokyo as it seeks to strengthen its investment presence across the Asia-Pacific region, the company said Tuesday. The move comes as Japan’s economy shows signs of a structural recovery after years of sluggish growth and deflation, with wages, prices and corporate earnings all on the rise. The improving outlook has made the country increasingly attractive to global investors. The Tokyo office will oversee investments across both traditional asset classes, including equities and fixed income, and alternatives such as private equity and real estate. KIC said a local presence will allow it to build stronger relationships in a market where trust and long-standing networks are critical to sourcing investment opportunities. It will also focus on uncovering opportunities available only on the ground while serving as a hub for information sharing and cooperation with Korean financial institutions operating in Japan. “The Tokyo office will play a pivotal role as a strategic hub, enabli

Jul 7, 2026By Park Han-sol
Korea Investment Corp. opens Tokyo office to expand Asia-Pacific presence
Companies

Paik's Coffee rebrands as DABANG for global push

Paik’s Coffee, a popular low-cost coffee franchise operated by Korean culinary giant Theborn Korea, unveiled a comprehensive brand identity overhaul Tuesday as part of an aggressive push into international markets. The centerpiece of the rebranding is a transition from Korean-language signage to a logo with English script saying "Paik’s DABANG." The strategic shift is designed to enhance brand recognition among international consumers and ensure visual consistency as the franchise expands into new territories. The commercial rollout begins next month. Theborn Korea, helmed by celebrity chef and CEO Paik Jong-won, confirmed it will open its first flagship Tokyo location in August 2026, with a second Japanese outlet slated to open by the end of the year. The company is also doing feasibility studies and creating localized business models to enter other major markets, including China, Taiwan and the United States. Company officials noted that use of the romanized Korean word "dabang" — an older term for a traditional coffee house — was intentional. By retaining the word, the brand

Jul 7, 2026By Jhoo Dong-chan
Paik's Coffee rebrands as DABANG for global push
Companies

Calls grow to delist Samsung, SK hynix leveraged ETFs

Political pressure is mounting to delist single-stock leveraged exchange-traded funds (ETFs) tied to Samsung Electronics and SK hynix following successive risk warnings from financial authorities and the Bank of Korea (BOK), as the high-risk products are being increasingly blamed for recent turbulence in the domestic stock market. Rep. Ahn Cheol-soo of the main opposition People Power Party (PPP) slammed the rollout of the products as a complete policy failure, calling for aggressive regulatory intervention, including their delisting, to restore normal market operations. "KOSPI has devolved into a casino," Ahn wrote on Facebook Monday, pointing to the 212 trillion won ($139 billion) traded in the leveraged funds, which he argued has fueled sharp swings in stock prices. "All 14 single-stock leveraged ETFs tracking the two chipmakers have posted negative returns over the past month, with losses reaching as much as 35.9 percent," he wrote. "To stabilize the market, sweeping corrective measures, including forced delistings, are urgently needed." Ahn also urged President Lee Jae Myung to hold

Jul 7, 2026By Jun Ji-hye
Calls grow to delist Samsung, SK hynix leveraged ETFs
Companies

Hanwha Ocean's Canada setback boosts export prospects

Hanwha Ocean’s narrow defeat in Canada’s multibillion-dollar submarine procurement project has proven to be a strategic showcase for Korean defense technology, laying the groundwork for the firm’s future exports, experts and industry officials said Tuesday. The analysis came shortly after the Korean shipbuilder lost the Canadian Patrol Submarine Project, a program valued at up to 60 trillion won ($39.3 billion), to Germany’s TKMS. Experts attribute Hanwha Ocean's defeat not to technological shortcomings, but to geopolitical considerations, particularly Germany's longstanding alliance with Canada through NATO. While political factors are believed to have played a decisive role, they argue that the closely contested bidding process underscored Hanwha Ocean's ability to compete head-to-head with one of the world's most established submarine manufacturers. Moon Keun-sik, a professor at Hanyang University’s Graduate School of Public Policy and a former Korean submarine captain, said Korea had mounted a strong campaign, but was ultimately unable to overcome the political realities su

Jul 7, 2026By Lee Min-hyung
Hanwha Ocean's Canada setback boosts export prospects
Banking & Finance

Woori Financial Group unveils $4.5 bil. investment road map to support startups

Woori Financial Group on Tuesday unveiled a road map to invest 7 trillion won ($4.5 billion) in innovative companies, detailing a financing system that supports startups from seed funding through initial public offerings (IPOs) as part of its broader productive finance initiative. Under the plan, Woori will finance startups throughout their life cycle, providing funding from the seed stage to public listings through its banking, securities and venture investment units. The announcement came during a press conference hosted by the Woori Finance Research Institute, where the financial group outlined its startup investment strategy and broader vision for productive finance. Early-stage startups will receive backing through DinnoLab, the group's startup incubation platform, with funds of less than 50 billion won. Companies entering the growth stage will be funded through the group's corporate venture capital funds of up to 100 billion won. Businesses preparing for large-scale expansion or IPOs will be supported by Woori Venture Partners and Woori Investment & Securities, which manage funds e

Jul 7, 2026By Lee Hyo-jin
Woori Financial Group unveils $4.5 bil. investment road map to support startups
Companies

Vietnam essential to K-food's ASEAN expansion

Vietnam is expected to drive Korea's food exports to Southeast Asia, according to the Korean government, which last week completed a market survey in the region's key economy. The Ministry of Agriculture, Food and Rural Affairs said Tuesday that it confirmed strong local demand for K-food and identified logistics infrastructure needed to facilitate exports during a recent market survey in Vietnam. K-Market, a Korean food distributor in Hanoi, has risen as a key local company in collaboration with the Korean government. At the center of the ministry’s latest Association of South East Asian Nations (ASEAN) K-food expansion plan is a new multimodal logistics hub in Hanoi completed last month. The ministry and its fresh produce distribution agency, the Korea Agro-Fisheries & Food Trade Corp., jointly built the facility to support Korean food exporters by providing a way for them to save on logistics. The advanced facility is equipped with rapid cooling and freezing rooms and a cold-chain package, which are critical for fresh agricultural and livestock products. The corporation said the fa

Jul 7, 2026By Ko Dong-hwan
Vietnam essential to K-food's ASEAN expansion
previous page
6566676869
next page

Most Read in Business