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  • 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

    British Business Awards recognize innovation, excellence, community leadership

    3 MIN READBy Lee Gyu-lee
    British Business Awards recognize innovation, excellence, community leadership
  • Companies

    Shinsegae chairman to receive history lesson over 'Tank Day' fiasco

    3 MIN READBy Ko Dong-hwan
    Shinsegae chairman to receive history lesson over 'Tank Day' fiasco
  • Companies

    KT rolls out AI store assistant to break language barriers for int'l customers

    2 MIN READBy Lee Kyung-min
    KT rolls out AI store assistant to break language barriers for int'l customers
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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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Tech & Science

Korea’s aerospace administrator pledges supports for industrial ecosystem

Oh Tae-seog, administrator of the Korea AeroSpace Administration, pledged government support Wednesday to nurture an industrial ecosystem aligned with the new space era and prevent Korea from falling behind in the intensifying global space race. During a press conference in Seoul, Oh, who took office as KASA's second administrator on Feb. 3, said the new space era is led by the private sector and driven by commercial viability, making it essential for Korea to move quickly to secure a foothold in the market. “The country’s efforts to build an industrial ecosystem matching the New Space era are still insufficient,” he said. “In the past, the focus was on research and development, but now speed is also critical. We need to move quickly. To foster the industry, we must also ensure price competitiveness. It is important to actively communicate with companies on the ground, identify their challenges and address them.” President Lee Jae Myung said in December last year that Korea needs to launch its homegrown Nuri space rocket at least once a year by 2032 to meet the growing launch

Apr 8, 2026By Nam Hyun-woo
Korea’s aerospace administrator pledges supports for industrial ecosystem
Companies

Ceasefire lifts prospects for airlines, construction industry

A two-week ceasefire between the United States and Iran will pave the way for Korea’s aviation and construction firms to ease cost pressures and improve earnings prospects amid falling global oil prices, industry officials said Wednesday. International crude oil prices plunged sharply following the truce announcement. On Wednesday, West Texas Intermediate (WTI) futures dropped as much as 19 percent on the eased tension in the Middle East. The oil price fall comes as a boon for airlines in particular, as fuel costs typically account for around 30 percent of their total expenses. As the ceasefire agreement was clinched on condition of reopening the Strait of Hormuz, a critical oil shipping route in the Middle East, concerns over the oil price hike have also been alleviated by the announcement. The U.S. dollar also weakened its valuation against the Korean won, which also brings major relief to airlines, as they pay for fuel in dollars. The won-dollar exchange rate closed at 1,470.6 won per dollar, Wednesday, down 33.6 won from the previous session, and continued its downward trend throu

Apr 8, 2026By Lee Min-hyung
Ceasefire lifts prospects for airlines, construction industry
Tech & Science

Samsung Electro-Mechanics upgrades ERP software to boost AI push

SAP Korea announced Wednesday that Samsung Electro-Mechanics has successfully completed the implementation of its next-generation enterprise resource planning (ERP) software, SAP S/4HANA, enabling an artificial intelligence (AI)-driven transformation framework built on an enterprise-wide integrated platform. With the software, Samsung Electro-Mechanics has integrated key data previously dispersed across ERP for finance and logistics, manufacturing execution systems (MES) and supply chain management (SCM) systems, into a single business warehouse database. “This SAP S/4HANA transition at Samsung Electro-Mechanics goes beyond a simple system upgrade, representing a next-generation digital transformation case built on data and AI,” said Won Young-sun, SAP Korea’s vice president and head of enterprise. “SAP will continue to actively support customers in accelerating business innovation and securing sustainable competitiveness.” The move enables real-time analytics and data consistency across all departments, while also significantly improving the company’s ability to make fast an

Apr 8, 2026By Lee Gyu-lee
Samsung Electro-Mechanics upgrades ERP software to boost AI push
Business

Korean manufacturers grow wary as global tensions cloud export outlook

Korean manufacturers are growing more cautious about the months ahead, as rising geopolitical tensions and uncertainty in export markets weigh on business sentiment, even as the semiconductor sector remains relatively strong, the Korea Chamber of Commerce and Industry said Wednesday. The group said its business survey index for the manufacturing sector stood at 76 in the second quarter, one point lower than the previous three months. The survey, conducted among 2,271 manufacturers nationwide from March 5 to 18, showed a widening gap between export-driven firms and those focused on domestic demand. The index for domestic-oriented companies rose to 78, up four points, while that for export-oriented firms fell to 70, down 20 points amid mounting external risks, including tensions in the Middle East. A reading above 100 indicates that more companies expect conditions to improve from the previous quarter, while a reading below 100 signals the opposite. Among sectors, semiconductors posted a strong outlook at 118, marking a second consecutive quarter of positive sentiment, driven by expanding

Apr 8, 2026By Lee Kyung-min
Korean manufacturers grow wary as global tensions cloud export outlook
Banking & Finance

KakaoBank targets Mongolia as next market in global expansion

KakaoBank is turning to Mongolia as the next step in its global strategy, building on the success of its expansion in Indonesia and Thailand, CEO Yun Ho-young said Wednesday. Speaking at a press conference in Seoul, Yun said the move is significant because it exports the bank's proven model of inclusive finance beyond Korea. "Mongolia represents a meaningful step in bringing KakaoBank's inclusive finance model, proven in Korea, to the global stage. We will use our achievements in Indonesia and Thailand as a springboard to expand further into global markets," he said. The country's largest internet-only bank plans to transfer its proprietary credit scoring system "KakaoBank Score" to a Mongolian financial institution, using nonfinancial data to improve credit assessment. The strategy in Mongolia builds on the bank's expansion in the Southeast Asian market. Indonesia's Superbank — KakaoBank's first overseas investment — debuted on the Indonesia Stock Exchange in December 2025 and has since emerged as a fast-growing digital bank in the country. In Thailand, KakaoBank is preparing to launc

Apr 8, 2026By Lee Hyo-jin
KakaoBank targets Mongolia as next market in global expansion
Companies

California swimwear brand Frankies Bikinis debuts in Seoul with Musinsa pop-up

Musinsa Empty, a multibrand retail store operated by the fashion platform Musinsa, will host the first offline pop-up in Korea for the California swimwear label Frankies Bikinis, from April 8 to 21 at its Seongsu location in Seoul. The pop-up marks the brand's debut in any Korean brick-and-mortar retail store. Founded in Malibu in 2012 by Francesca Aiello and her mother Mimi Aiello, Frankies Bikinis has built a following among global Gen Z consumers and celebrities through its California beach-inspired prints, embroidery and strap detailing across inclusive sizing. The brand has since expanded into knitwear, activewear and accessories. The centerpiece of the pop-up is a limited-edition collection developed in collaboration with BLACKPINK member Jennie, making its exclusive domestic debut at the event. Built around a “swim-to-street” concept — designed to transition easily from beachwear to everyday outfits — the collection features vintage-washed colors and relaxed silhouettes. Jennie was involved throughout the design and production process. Select limited-edition items carry a

Apr 8, 2026By Jhoo Dong-chan
California swimwear brand Frankies Bikinis debuts in Seoul with Musinsa pop-up
Companies

Nongshim extends global instant noodles popularity to Russia

Nongshim is stepping up its global expansion by launching a new subsidiary in Moscow in June to target Russia and neighboring markets. The company said Wednesday it will establish Nongshim Rus in the Russian capital, marking its eighth overseas subsidiary following the launch of its European unit in the Netherlands in March 2025. The move comes as exports of Korean instant noodles continue to gain traction in Russia. The country’s imports of Korean instant noodles reached $52 million last year, up 58 percent from a year earlier, driven in part by the global popularity of K-pop and Korean content on streaming platforms. The overall instant noodles market in Russia has also been growing since the COVID-19 pandemic, when demand for convenient, at-home meals surged worldwide. Citing Euromonitor data, Nongshim said the Russian market is expected to grow at an annual rate of more than 10 percent between 2021 and 2030, with the market size projected to reach 1.5 trillion won ($1.01 billion). Nongshim plans to position its flagship Shin Ramyun and other key products as premium offerings. While

Apr 8, 2026By Ko Dong-hwan
Nongshim extends global instant noodles popularity to Russia
Business

Huons Meditech gains foothold in China following approval of aesthetic device

Huons Meditech is expanding into China’s fast-growing market for cosmetic procedures after securing regulatory clearance for a specialized injection needle designed for skin booster treatments, the company said Wednesday. The Korea-based medical device firm said it recently completed registration with China’s National Medical Products Administration (NMPA) for its Premium 9Pin Needle, marking a key step in expanding its presence in the country. The specialized needle is designed for use with the company’s proprietary injection systems, the Dermashine Pro and Dermashine Balance. The company said the Premium 9Pin Needle features a precision-engineered structure that enhances stability even under high-pressure injection. The design also optimizes the needle’s inner diameter length, allowing high-viscosity substances to be delivered deep into the skin without leakage, reducing drug loss. The medical device maker also said it improved convenience for both patients and practitioners, with a specialized bevel design that minimizes pain and recovery time and a dedicated protective cap to

Apr 8, 2026By Lee Kyung-min
Huons Meditech gains foothold in China following approval of aesthetic device
Companies

HDC fined $11.61 mil. over unfair support for ailing affiliate

Korea's antitrust regulator said Wednesday it has imposed a 17.13 billion-won ($11.61 million) fine on major construction firm HDC Holdings for improperly supporting an ailing affiliate facing a management crisis. The Fair Trade Commission (FTC) said it has also ordered corrective measures, noting the company had effectively provided large-scale funds to its affiliate, HDC I'Park Mall, free of charge. The FTC said it plans to refer HDC to prosecutors. According to the watchdog, HDC I'Park Mall, which operates a shopping complex, fell into a severe management crisis in 2006 due to low tenant occupancy rates. HDC allegedly disguised a financial transaction as a lease agreement, under which it delegated store operation and management rights to HDC I'Park Mall while receiving fees and usage profits. The FTC determined that although the transactions were structured as a lease and a management delegation contract, they were, in substance, equivalent to providing a low-interest loan. HDC I'Park Mall borrowed between 33.3 billion won and 36 billion won for more than 17 years but paid only 4.7 bil

Apr 8, 2026By Yonhap
HDC fined $11.61 mil. over unfair support for ailing affiliate
Companies

LX Hausys eyes global market with presence at int’l fairs

LX Hausys is accelerating its expansion into global markets by attending major international housing materials fairs in Europe, the United States and Asia, as it seeks to diversify its revenue sources amid a slowdown in the domestic real estate market. The company has given significant focus to attending international housing material fairs in recent months. It is set to participate in the International Sign Expo 2026 in Orlando from Wednesday (local time) to Friday, and the FESPA Global Print Expo 2026 in Barcelona, Spain, in May, to showcase a wide range of sign and graphic films designed for indoor and outdoor signage and vehicle wraps. In late March, the company participated in FENSTERBAU FRONTALE 2026, the world’s leading trade fair for windows, doors and facades, in Nuremberg, Germany. The company introduced approximately 80 types of high-weather resistance exterior films, designed to maintain performance despite extreme exposure to light and temperature changes. It also took part in Design Shanghai 2026 in China last month. In February, it participated in EuroShop 2026, one of t

Apr 8, 2026By Nam Hyun-woo
LX Hausys eyes global market with presence at int’l fairs
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