my timesThe Korea Times

Business

Tech & ScienceCompaniesBanking & FinanceMost respected CEOsAPEC 2025Others
  • Companies

    Surging SK shares complicate owner's property division suit

    The high-stakes property division suit between SK Group Chairman Chey Tae-won and his former wife Roh Soh-yeong are heading into a critical juncture, as a dramatic surge in SK Inc.'s stock price has introduced fresh legal complications over how marital assets should be valued and divided. The Seoul High Court is scheduled to hold a second mediation session on Monday in the retrial of the property division case, which was remanded by the Supreme Court last year. Both sides are widely expected to appear in person — their first face-to-face courtroom encounter in roughly two years and two months since the final appellate hearing in April 2024. At the heart of the dispute is the stock value of SK Inc., the holding company of SK Group. When the appellate court closed arguments in April 2024, shares were traded at around 160,000 won ($105). They have since surged to approximately 600,000 won, driven by mounting expectations surrounding the expansion of the group's artificial intelligence (AI) ecosystem and the strong rally of its cash-cow chipmaker, SK hynix. The timing question is now lega

    2 MIN READBy Lee Min-hyung
    Surging SK shares complicate owner's property division suit
  • Companies

    Airlines on high alert over strengthening dollar, prolonged oil price hike

    2 MIN READBy Lee Min-hyung
    Airlines on high alert over strengthening dollar, prolonged oil price hike
  • Companies

    Shinsegae to provide historical awareness training after Starbucks promotion backlash

    1 MIN READBy Yonhap
    Shinsegae to provide historical awareness training after Starbucks promotion backlash
  • Business

    Container shipping costs to Middle East rise for 3rd straight month in May amid lingering tensions

    1 MIN READBy Yonhap
    Container shipping costs to Middle East rise for 3rd straight month in May amid lingering tensions
  • Companies

    Gaon Cable gains traction in US AI data center power infrastructure market

    3 MIN READBy Lee Gyu-lee
    Gaon Cable gains traction in US AI data center power infrastructure market
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

Renault Korea to produce EVs in Busan from 2028

Renault Korea will begin production of next-generation electric vehicles (EVs) at its Busan plant starting in 2028, marking a central pillar of the automaker’s mid-term strategy to adapt to the accelerating shift toward electrification, its CEO said Tuesday. As part of its broader product road map, the company also pledged to introduce one new model annually through 2029, aiming to strengthen its foothold in the Korean market with a more diversified lineup. In 2027, Renault Korea plans to debut its first software-defined vehicle (SDV), equipped with advanced artificial intelligence (AI) technologies. “We need to catch up on electrification for our brand in Korea, and our first fully electrified model will be produced in Busan from 2028,” CEO Nicolas Paris said during his first press conference since beginning his role in September 2025. “Renault Korea is also running toward our group-wide goal of reaching 50 percent in hybrid cars and 50 percent in EVs by 2030.” In recent years, Renault Korea has focused on reviving its sales through strategic model launches. The Grand Koleos SU

Apr 14, 2026By Lee Min-hyung
Renault Korea to produce EVs in Busan from 2028
Banking & Finance

Bio, display, mobility picked next destination for public growth fund

The second round of investment by the mega-sized Public Growth Fund will be mainly focused on the bio, display and mobility sectors, the financial regulator said Tuesday. The Lee Jae Myung government launched the 150 trillion-won ($101 billion) fund late last year to support seven projects, including artificial intelligence (AI) adoption, secondary batteries and biotechnology, over the next five years. So far, the fund has decided to funnel some 6.6 trillion won into four projects that also include the construction of an offshore wind farm and an AI chip production facility. The investment review committee of the fund has selected the next investment destinations — bio, display and mobility — and will discuss how to fund investment projects in the sectors, according to the Financial Services Commission (FSC). The regulator said around 10 trillion won will be invested under the second batch of investment by the fund. "The projects to be funded by the second batch of investment from the Public Growth Fund will have a significant ripple effect on the overall industrial sector, while also

Apr 14, 2026By Yonhap
Bio, display, mobility picked next destination for public growth fund
Companies

SK revives ex-chairmen in AI video to honor entrepreneurship

SK Group on Tuesday released an artificial intelligence (AI) video clip recreating its former chairmen to honor their entrepreneurship as the conglomerate marks its 73rd founding anniversary. The five-minute clip features AI recreations of SK Group founder Choi Jong-gun and former Chairman Chey Jong-hyon delivering their past remarks and management anecdotes to current SK Group employees. The video has been playing at SK Group’s headquarters in Jongno District, Seoul, since Monday. The video portrays the history of SK Group, beginning with the reconstruction of Sunkyong Textile's factory, which was devastated during the 1950-53 Korean War, and tracing the group’s expansion into textiles, hotels, oil and telecommunications. SK Group was established in 1953 when Choi salvaged the remains of the factory and acquired the property through a postwar government disposition. Sunkyong’s linings and bedding fabrics gained nationwide popularity, laying the foundation for the company’s expansion as a textile group. In the video, Choi recalls his philosophy of “straightening what is bent, r

Apr 14, 2026By Nam Hyun-woo
SK revives ex-chairmen in AI video to honor entrepreneurship
Companies

Renault Korea to launch new models annually through 2029, produce next-gen EVs in Busan from 2028

Renault Korea, the Korean unit French automotive giant Renault S.A., plans to roll out new models annually through 2029 and begin producing its next-generation electric vehicles (EVs) at its Busan plant in 2028, its chief said Tuesday. Nicolas Paris, chief executive officer (CEO) of Renault Korea, shared such a plan at a press conference in Seoul while announcing the Korean implementation of the "Future Ready" initiative previously announced by the Renault Group. Under the strategy, Renault Korea will position itself as a key hub for the French automotive group's D and E segment vehicles and roll out new models annually through 2029. The company also aims to produce next-generation EVs at its plant in Busan, about 330 kilometers southeast of Seoul, starting in 2028. "Our ambition goes beyond volume. We aim to lead in quality and premiumness, and in our ability to design, develop and industrialize flagship models for the group," Paris said. As part of its technology road map, the company plans to build a localized EV ecosystem in Korea, including battery production, while accelerating the

Apr 14, 2026By Yonhap
Renault Korea to launch new models annually through 2029, produce next-gen EVs in Busan from 2028
Companies

Haleon highlights Centrum multivitamin effectiveness as it deepens commitment to Korean market

Global consumer healthcare company Haleon, known for its Centrum multivitamin, pledged Tuesday to strengthen its commitment to the Korean market, highlighting scientific research suggesting that multivitamins can help improve various health indicators. During a press conference in Seoul, Haleon Korea General Manager Shin Dong-woo said Centrum accounts for the largest share of the company’s sales in Korea, adding that the firm plans to “further strengthen its commitment to the market through enhanced local partnerships and technology transfer.” Following the press conference, Haleon hosted a separate consumer event to showcase research findings on the efficacy of Centrum. During the conference, Park Min-seok, medical affairs manager at Haleon Korea, introduced a series of studies showing that the reasons people take multivitamins is expanding beyond addressing nutritional deficiencies to include a broader range of health indicators, such as quality of life, brain health and healthy aging. Last month, a study on the effects of multivitamins on epigenetic aging clocks in 958 participa

Apr 14, 2026By Nam Hyun-woo
Haleon highlights Centrum multivitamin effectiveness as it deepens commitment to Korean market
Business

Korean firms give high marks to deregulation despite safety hurdles

A majority of companies in Korea say they are satisfied with the government’s efforts to streamline regulations, even as nearly half cite safety rules as the biggest burden they face this year, a business survey showed. The Korea Enterprises Federation (KEF) said Tuesday that 63.8 percent of 517 companies with 50 or more employees reported being satisfied with the government’s efforts to rationalize regulations, compared to 23.4 percent that said they were dissatisfied. Nearly half of respondents identified safety mandates as their primary burden, specifically citing the Serious Accidents Punishment Act — a contentious law that can hold executives criminally liable for fatal workplace mishaps. Regulation of working hours followed at 25 percent, while 15.5 percent of firms highlighted carbon neutrality and environmental requirements. Asked which regulatory changes they wanted this year, companies called for greater protections for regulators and inspectors in the exercise of their judgment, at 23.8 percent, followed by stricter enforcement of a system to cap regulations at 22.2 per

Apr 14, 2026By Lee Kyung-min
Korean firms give high marks to deregulation despite safety hurdles
Companies

Starbucks Korea teams up with Walt Disney on 'Toy Story'-themed collection

Starbucks Korea said it will launch a "Toy Story"-themed collaboration with The Walt Disney Company Korea starting April 15, releasing a limited lineup of drinks, food and merchandise exclusively at its Korea locations ahead of the animated film's fifth installment, set for release in June. The partnership is built around the slogan "PLAY YOUR DAY" and draws on the characters of Woody, Buzz Lightyear and Jessie from the Disney-Pixar franchise. Three drinks lead the lineup. The Woody Cowboy Cookie Cold Brew pairs cold brew coffee with choux foam and a crumbled cookie topping, while the Jessie Strawberry Frappuccino combines a sweet and tart strawberry base with choux foam. The Buzz Kiwi Pop Energy Fizzio combines a kiwi base with mango star toppings and contains 1,179 milligrams of taurine and 84 mg of vitamin C. Food items include the Buzz Cake, decorated with icing and chocolate; the Slinky Chewy Sausage Bread, shaped after the coiled body of the character Slinky Dog; and macarons modeled after the characters Forky and Alien. The merchandise lineup includes a Woody and Jessie mug set wit

Apr 14, 2026By Jhoo Dong-chan
Starbucks Korea teams up with Walt Disney on 'Toy Story'-themed collection
Companies

Genesis luxury vehicle sales surpass 1 million in Korea

Genesis, the luxury division of Hyundai Motor, said Tuesday that cumulative domestic sales of the premium automobile had reached 1,002,998 vehicles as of the end of March, surpassing the 1 million mark roughly 10 years and four months after its launch in Korea. Genesis debuted in November 2015 as Korea's first homegrown luxury car brand, releasing the flagship EQ900 large sedan as its first model the following month. Annual domestic sales broke 100,000 units for the first time in 2020, driven by the back-to-back launches of the brand's first SUV, the GV80, and the third-generation G80. Sales in 2020 rose 90.8 percent from the previous year to 108,384 units. The brand posted its all-time domestic sales record of 138,757 units in 2021, when it expanded into electrified models with the Electrified G80, GV60 and Electrified GV70. From 2023 through 2025, Genesis maintained average annual domestic sales of more than 120,000 units. The G80 sedan — including the Electrified G80 — was the top-selling model at 422,589 units, accounting for 42.1 percent of total domestic sales. The GV80 ranked

Apr 14, 2026By Jhoo Dong-chan
Genesis luxury vehicle sales surpass 1 million in Korea
Companies

Samsung SDS launches AI platform to support National Assembly

Samsung SDS said Tuesday it completed the first phase of a project to build an artificial intelligence (AI)-powered data platform for the National Assembly, launching what it described as a dedicated generative AI system to support legislative work. Called the National Assembly AI Legislative Support Platform, it integrates data from 320 internal and external organizations and will be used by about 5,000 staff members — including lawmakers and their aides — the company said. The system offers three core services: an AI assistant that answers policy-related questions, drafts documents and summarizes meeting minutes; an intelligent search function that retrieves Assembly and external materials using natural-language queries; and a bill recommendation service that identifies similar legislation and relevant statutory provisions. Samsung SDS said it built the platform using FabriX, its proprietary generative AI service platform, and deployed it in an on-premises environment within the National Assembly Secretariat's data center to strengthen security. Responses are generated from verifi

Apr 14, 2026By Jhoo Dong-chan
Samsung SDS launches AI platform to support National Assembly
Companies

OB introduces Korea’s first state-backed draft beer quality seal

Oriental Brewery (OB) said Tuesday it had introduced what it described as the country’s first government-backed certification program for draft beer quality management, a move aimed at raising hygiene standards and supporting food service operators nationwide. The program, called the Master Draft Manager (MDM), awards credentials to individuals who demonstrate proficiency in draft beer sanitation and quality control. OB said the certification is backed by the Ministry of Employment and Labor, giving it an official standing that distinguishes it from conventional one-time industry training. The MDM credential is administered jointly with Kinoco, one of OB’s partner companies with 14 years of experience in draft beer quality training and equipment management systems. OB said the partnership combines Kinoco's technical expertise with its own quality management practices. Candidates must complete a four-stage process comprising classroom instruction, hands-on training, an online written exam and an on-site practical assessment. The curriculum covers sanitation procedures, supply line clea

Apr 14, 2026By Jhoo Dong-chan
OB introduces Korea’s first state-backed draft beer quality seal
previous page
8182838485
next page

Most Read in Business