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

Business

Middle East crisis accelerates momentum for renewables, new report says

Rising energy insecurity following a major military escalation in the Middle East has bolstered the strategic case for renewable energy, even as deep structural hurdles threaten to stall a rapid transition, a new report warns. The analysis, released by the Korea Institute for Industrial Economics and Trade, arrives as global oil and gas markets reel from a Feb. 28 strike by the United States and Israel on Iran. The subsequent closure of the Strait of Hormuz has sent price volatility soaring, forcing a reassessment of energy dependence in Korea and beyond. The report, titled “Will the Middle East war accelerate the transition to renewable energy,” said the crisis has elevated renewables from a climate policy priority to a core pillar of energy security and national resilience. But it said multiple structural constraints are likely to slow any immediate shift. Rising fossil fuel prices are increasing the cost burden of renewable energy investments and straining supply chains, creating what the report describes as a paradox. In the short term, countries may turn to alternative fossil fu

Apr 10, 2026By Lee Kyung-min
Middle East crisis accelerates momentum for renewables, new report says
Companies

Hanwha, Poongsan call off $1 bil. ammunition biz M&A deal

Korea’s top defense firms Hanwha Aerospace and Poongsan have called off negotiations for Hanwha's acqusition of the Poongsan's ammunition business, triggering speculation over the reasons behind the cancellation. Hanwha Aerospace said in a regulatory posting on Thursday night that it has halted its review of the acquisition. Poongsan also said in a similar filing that it is not pursuing the sale of its ammunition business. The two companies did not elaborate further about why negotiations collapsed. The stock price of Poongsan Holdings, the largest shareholder of Poongsan, plunged by 14.48 percent on Friday to 46,350 won, as investors reacted to the deal's collapse. The deal, valued at 1.5 trillion won ($1 bil.), drew significant industry attention as it was seen as an opportunity to address both companies’ needs. Poongsan, headed by Federation of Korean Industries Chairman Ryu Jin, is Korea’s primary military ammunition manufacturer, producing a wide range of munitions including 5.56-millimeter small-caliber rounds, 155-millimeter artillery shells, missile warheads and even sports

Apr 10, 2026By Nam Hyun-woo
Hanwha, Poongsan call off $1 bil. ammunition biz M&A deal
Companies

Hyundai Motor launches Ioniq EV brand in China, unveils two concept cars

Hyundai Motor on Friday officially launched its Ioniq electric vehicle (EV) brand in China, unveiling two new concept cars as it seeks to strengthen its presence in the Chinese market. The Korean automaker said it introduced the Ioniq Venus concept sedan and the Earth concept sport utility vehicle (SUV) at a brand launch event held in Beijing ahead of the Auto China 2026 auto show set to run later this month. According to Hyundai Motor, the two concept models signal the company's renewed push in China and the future design direction of the Ioniq lineup tailored specifically for the country. In China, Hyundai plans to adopt a new naming system for future Ioniq models based on planets, symbolizing a customer-centric service concept in which each vehicle is designed around user needs. "Starting with the two concept cars unveiled today, we will continue to present products that reflect deep insight into Chinese customers and our genuine commitment to this market," said Li Fenggang, president of Beijing Hyundai Motor, the company's joint venture with China's Beijing BAIC Motor. Hyundai Motor,

Apr 10, 2026By Yonhap
Hyundai Motor launches Ioniq EV brand in China, unveils two concept cars
Tech & Science

SKT partners with Arm, Rebellions on hybrid CPU-NPU servers

SK Telecom has teamed up with semiconductor design giant Arm and artificial intelligence (AI) accelerator startup Rebellions to develop a hybrid central processing unit (CPU)-neural processing unit (NPU) solution to empower next-generation AI infrastructure. SK Telecom said Friday it signed a strategic memorandum of understanding with the two companies. Under the agreement, the three parties will jointly develop an AI inference server solution that integrates Arm’s new Arm AGI CPU with Rebellions’ AI accelerator chip RebelCard, which is slated for release in the third quarter. The solution will be tested and verified in SK Telecom’s AI data centers. Arm AGI CPU, which marks Arm’s first architecture for data center processors, is optimized for high-density AI inference workloads and large-scale AI deployment. Rebellions’ RebelCard is specialized for large-scale AI inference. The partnership comes as the AI industry undergoes a paradigm shift from training AI models to powering real-world services, driving demand for data center architectures that balance performance and power ef

Apr 10, 2026By Lee Gyu-lee
SKT partners with Arm, Rebellions on hybrid CPU-NPU servers
Companies

TikTok turns viral ‘gochujang butter pasta’ into breakfast pop-up event

TikTok Korea held a breakfast gathering at a GS25 convenience store in Seoul Thursday, bringing together creators and users to celebrate “gochujang butter pasta,” a dish that gained traction on the platform before being commercialized as a ready-to-eat product. The event, held at GS25’s Konkuk branch, included about 10 users selected through a promotional draw, along with TikTok creators Gyutaecci, Jeon Unni, Cookim and Minji. Attendees sampled GS25's gochujang butter pasta and assembled their own variations using convenience store ingredients. The gathering was designed around the "mingle morning" format, a social trend popular among Generation Z involving early-morning meetups centered on food and conversation. Additional programming included games and a best-dressed competition, with participants asked to wear red clothing in a nod to the dish's primary ingredient. The gochujang butter pasta product at the center of the event was launched by GS25 on March 25, following the spread of gochujang-based pasta recipes on TikTok. GS25 said the product development drew directly on TikTok

Apr 10, 2026By Jhoo Dong-chan
TikTok turns viral ‘gochujang butter pasta’ into breakfast pop-up event
Companies

With inheritance tax paid, Samsung chairman set to expedite future investment

With the Samsung Group owner family set to complete one of the largest inheritance tax payments in Korea’s history, Samsung Electronics Executive Chairman Lee Jae-yong is expected to accelerate future investments based on his stronger control over the group. Hong Ra-hee, the widow of former Samsung Group Chairman Lee Kun-hee, sold 15 million shares in Samsung Electronics worth nearly 3.1 trillion won ($2.1 billion) in a block deal on Thursday. The sale has reduced Hong's stake in Samsung Electronics to 1.24 percent from 1.49 percent. The sale was intended to fund inheritance tax payments on assets left by the late chairman. Since his death in 2020, the heirs — Hong and her children Jae-yong, Boo-jin and Seo-hyun — have been in the process of paying 12 trillion won in taxes in six installments, starting in 2021. The process is expected to be completed this month, once Hong uses the proceeds from the latest sale to pay the final installment. The inheritance process strengthened Lee Jae-yong’s grip on Samsung Electronics. Before the late chairman’s death, Hong held a 0.91 percent

Apr 10, 2026By Nam Hyun-woo
With inheritance tax paid, Samsung chairman set to expedite future investment
Business

Korea, Finland seek ways to boost cooperation in supply chains, advanced industries

Trade Minister Yeo Han-koo met with his Finnish counterpart Friday to discuss bilateral cooperation in supply chains and advanced industries amid heightened global uncertainties, his office said. In their meeting in Seoul, Yeo and Finland's Minister for Foreign Trade and Development Ville Tavio explored ways to deepen cooperation between their countries in artificial intelligence (AI), circular economy and other advanced industries, according to the Ministry of Trade, Industry and Resources. They also discussed upgrading the countries' ties to a strategic and comprehensive partnership while agreeing on the need for closer cooperation among countries, including Korea and Finland, that support open trade amid volatility in the global trade environment stemming from the rise of trade protectionism and geopolitical conflicts. "Finland, with its critical minerals infrastructure and advanced technological capabilities, is a key partner for Korea, and the Seoul government will work to further strengthen economic and security ties with Europe through its mutually beneficial partnership with Fin

Apr 10, 2026By Yonhap
Korea, Finland seek ways to boost cooperation in supply chains, advanced industries
Companies

Samyang Foods' Buldak to return as official partner of Coachella Festival

Samyang Foods’ Buldak brand — known for its intensely spicy “fire chicken” ramen and sauces — will return as the official ramen and hot sauce partner of the 2026 Coachella Valley Music and Arts Festival, organizers said, marking its second consecutive year in the role and extending its distinction as the first Korean brand to secure an official partnership with one of the world’s largest music events. The festival runs April 10–12 and April 17–19 in Indio, California. This year’s program will center on the “Buldak Crawl,” a roaming festival experience that allows attendees to sample limited-edition dishes infused with the brand’s signature spicy flavors at multiple vendor locations across the festival grounds. Participating food partners will include Prince St. Pizza, Rokstar Chicken, Sumo Dog, Birrieria San Marcos and Sidekicks, each offering a distinct menu item built around Buldak’s signature spice. Offerings include a pizza slice with Buldak drizzle, tenders and honey butter fries with Buldak sauce, a Buldak Hotzilla Dog with Sumo Tots, a Buldak quesadilla a

Apr 10, 2026By Jhoo Dong-chan
Samyang Foods' Buldak to return as official partner of Coachella Festival
Banking & Finance

Insurers race to increase subscriptions in Korea's underinsured pet market

Choi Kwang-soon, whose Shih Tzu is about to turn 15, hesitated before opening the bill. Caring for a dog with an aging heart already meant steady monthly spending on medication and checkups. But this time was different. Her dog had undergone surgery to remove a cancerous adrenal gland, and by the time the procedure and hospital stay were over, the cost had climbed to nearly 8 million won ($5,400). But she had no pet insurance. “A decade ago, pet insurance wasn’t something people talked about. I didn’t even know it existed and there were barely any products available,” Choi said. “If I had known earlier, I would have signed up. You pay a small amount upfront, and it saves you from these overwhelming expenses later.” In Korea, the number of pet owners reached 15.46 million in 2024, roughly 30 percent of the population. Yet despite the surge in ownership, enrollment remains low, with only 1 to 2 percent of households signed up. But as veterinary bills climb, so too does interest in such policies. According to a KB Financial Group report, households that sought medical treatment f

Apr 10, 2026By Park Han-sol
Insurers race to increase subscriptions in Korea's underinsured pet market
Tech & Science

Record profits expected for SK hynix in Q1 as market weighs chip momentum

SK hynix will announce its first-quarter earnings for the year on April 23, with analysts expecting the memory chip giant to post record-breaking profits. The market is now debating whether the company can sustain its current level of profitability or if the global memory chip upcycle is nearing its peak. As of Thursday, brokerages expect SK hynix to post 47.66 trillion won ($32.2 billion) in sales and 32.69 trillion won in operating profit for the first quarter, representing year-on-year growth of 170 percent and 339 percent, respectively. The operating margin is projected to reach 68.6 percent. SK hynix is highly likely to smash its previous performance record — 32.83 trillion won in sales and 19.17 trillion won in operating profit — from the fourth quarter of last year. The surge was driven by robust demand tied to the artificial intelligence boom, with expanded sales of high-value memory products centered on high-bandwidth memory (HBM), while the average selling price of memory products rose across all segments, including conventional dynamic random access memory (DRAM) and NAND

Apr 10, 2026By Nam Hyun-woo
Record profits expected for SK hynix in Q1 as market weighs chip momentum
previous page
8586878889
next page

Most Read in Business