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    Hybrid becomes Hyundai Motor's new US strategy

    Hyundai Motor is expanding hybrid production and local sourcing in the United States, in a strategic shift to blunt the impact of tariffs. The effort — unveiled at its 2026 CEO Investor Day on Wednesday — is centered on its plan to offer more than 10 hybrid models in North America by 2030, with a goal of making hybrids account for around half of its regional sales there. The strategy goes beyond expanding its hybrid lineup. Hyundai said it will raise its North American local parts sourcing target to 80 percent in the same timeline, up from the previous target of 60 percent, as it seeks to build a more localized supply chain and reduce exposure to trade-related costs. The vehicles will be produced at Hyundai Motor Manufacturing Alabama and Hyundai Motor Group Metaplant America in Georgia. The shift comes as Hyundai Motor faces a more uncertain U.S. auto market. The company is subject to a 15 percent tariff on automobiles, while uncertainty over future U.S. trade policy continues to weigh on the automaker's long-term investment decisions. To mitigate the risks, the carmaker is increasin

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

    POSCO extends helping hand through global student volunteer program

    2 MIN READBy Nam Hyun-woo
    POSCO extends helping hand through global student volunteer program
  • Companies

    CJ OliveNetworks hosts AI tech challenge for healthy eating

    2 MIN READBy Jhoo Dong-chan
    CJ OliveNetworks hosts AI tech challenge for healthy eating
  • Companies

    Korean e-commerce platform SSG.com to spin off beauty, lifestyle biz

    1 MIN READBy Yonhap
    Korean e-commerce platform SSG.com to spin off beauty, lifestyle biz
  • Tech & Science

    Motif challenges national AI model project after elimination

    3 MIN READBy Lee Gyu-lee
    Motif challenges national AI model project after elimination
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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

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
Tech & Science

Naver, Daum ramp up AI search race with agent-focused strategies

Naver and Daum are intensifying competition in artificial intelligence (AI)-powered search, moving beyond chatbot-style responses toward agent-driven systems that leverage their proprietary data and service ecosystems to execute real-world tasks. Naver recently unveiled the road map for its conversational AI search service AI Tab, which launched for all users in late June, positioning it as a gateway to AI agents capable of handling tasks such as reservations and shopping. The company identified a product-native large language model (LLM), harness engineering and multimodal AI as three core technologies behind the strategy. Unlike conventional foundation models built for general-purpose reasoning, Naver said its product-native LLM is tailored for real-world services. The model is designed to handle long-context, multiturn interactions while selecting appropriate tools to complete tasks across Naver’s ecosystem, including search, shopping, maps, blogs and community platforms. Harness engineering connects the AI to Naver’s real-time data sources, including blogs, maps, shopping and new

Jul 7, 2026By Lee Gyu-lee
Naver, Daum ramp up AI search race with agent-focused strategies
Companies

Baemin teams up with Seoul to tackle loneliness through food campaign

Baemin, Korea's largest food delivery platform, is turning mealtime into a tool for social connection, launching a new campaign with the Seoul Metropolitan Government aimed at helping young adults identify and overcome loneliness. Woowa Brothers, the operator of Baemin, said Tuesday it launched the "Meal Mate Test" campaign for Seoul residents in their 20s, 30s and 40s as part of its partnership with the city to address loneliness and social isolation. The campaign follows an agreement signed in December 2024 under Seoul's "Loneliness-Free Seoul" initiative. The company said it has worked with the city since last year on promotions tied to Baemin's pickup service to encourage socially isolated residents to leave their homes, attracting about 140,000 participants. The Meal Mate Test is based on Seoul's self-assessment questionnaire for loneliness and social isolation. Participants answer questions about their food ordering habits, dining preferences and how they unwind after a tiring day to identify their eating style and level of social isolation. Customers who complete the test will recei

Jul 7, 2026By Lee Kyung-min
Baemin teams up with Seoul to tackle loneliness through food campaign
Companies

Hankook Tire retains top spot in German EV tire test for 2nd year

Hankook Tire has claimed the top spot in a leading German comparison of all-season electric vehicle (EV) tires for the second consecutive year, bolstering its push to expand its presence in Europe's fast-growing EV market. The company said Tuesday that its iON FlexClimate all-season electric vehicle tire ranked first overall in the 2026 electric vehicle all-season tire test conducted by German automotive magazine Auto Bild. The evaluation compared eight global tire brands in the 215/55 R18 size using Kia's EV3 electric SUV. The tires were tested across dry, wet and snowy road conditions, with braking, handling, mileage, rolling resistance and driving noise among the categories assessed. Hankook Tire said the iON FlexClimate delivered the strongest overall performance while demonstrating superior durability. The company said the tire was the only product in the test designed exclusively for EVs. It also said the tire earned the highest scores for wet-road braking, handling and cornering performance. The tire also recorded an estimated service life of 54,560 kilometers, outperforming competin

Jul 7, 2026By Lee Kyung-min
Hankook Tire retains top spot in German EV tire test for 2nd year
Companies

Hyundai Steel steps up European push with customer outreach at WRC rally

Hyundai Steel is stepping up its push into the European market, using a customer event held alongside the World Rally Championship (WRC) Greece Rally to reassure key clients on supply stability, trade compliance and its low-carbon steel strategy. The company said Tuesday it hosted its Customers Day event during the WRC Greece Rally, bringing together major European customers to strengthen partnerships and showcase its latest steel technologies. Hyundai Steel said the meeting focused on the reliability of its automotive steel supply, its readiness to respond to the European Union's Carbon Border Adjustment Mechanism (CBAM) and newly revised tariff-rate quota (TRQ) rules, as well as its portfolio of high-value steel products. The company said it explained how it plans to respond to the EU's updated steel TRQ system, which took effect this month. It also said it emphasized its commitment to prioritizing shipments for key customers despite growing uncertainty surrounding global trade regulations, with the goal of maintaining a stable supply of steel products. Hyundai Steel said customers resp

Jul 7, 2026By Lee Kyung-min
Hyundai Steel steps up European push with customer outreach at WRC rally
Companies

Incheon airport achieves 1 bil. passengers milestone

Incheon International Airport has achieved a historic milestone in global aviation by recording 1 billion cumulative passengers in the shortest period among the world's major hub airports, the airport operator said Tuesday. According to Incheon International Airport Corp. (IIAC), the airport crossed the 1 billion passenger mark just 25 years and three months after its opening in March 2001. Spanning exactly 9,232 days of operations, this achievement reflects an unprecedented growth trajectory within the international aviation industry, outpacing all historic rival global hubs. The airport’s timeline for reaching 1 billion passengers was significantly shorter than other major transit hubs across Europe, Asia and the Middle East. Germany’s Munich Airport required 33 years and 10 months to hit the same metric, while Singapore’s Changi Airport took 35 years and five months. Japan’s Narita International Airport reached the milestone in 39 years and two months, and Dubai International Airport in the United Arab Emirates required 58 years and two months. To contextualize the scale of 1 b

Jul 7, 2026By Lee Min-hyung
Incheon airport achieves 1 bil. passengers milestone
Companies

Dongwha Electrolyte clinches supply deal with global battery maker

Dongwha Electrolyte, an affiliate of Korea's Dongwha Enterprise, said Tuesday it has clinched a supply contract with a major global battery manufacturer to provide electrolyte for energy storage systems (ESS). Under the terms of the agreement, production will take place at Dongwha’s manufacturing facility in Clarksville, Tennessee, before being shipped directly to the client’s localized production sites. The company declined to disclose the financial value of the deal or the identity of the buyer, citing a strict nondisclosure agreement. Electrolyte is a critical liquid chemical component that facilitates the movement of lithium ions within a battery, serving as a core building block for both electric vehicles (EVs) and stationary energy storage. ESS units function as large-capacity batteries designed to harvest and store electricity from power grids or renewable sources, such as solar and wind, for later deployment. The contract marks a significant operational pivot for Dongwha’s Tennessee footprint. While the Clarksville plant previously focused entirely on supplying electrolyte

Jul 7, 2026By Jhoo Dong-chan
Dongwha Electrolyte clinches supply deal with global battery maker
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