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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Business

Companies

Wed, February 1, 2023 | 12:38

Young drivers rush to sell cars as interest rates rise and economy sputters

Young drivers rush to sell cars as interest rates rise and economy sputters

Many young drivers in their 20s to 40s are rushing to sell their vehicles, burdened by high interest rates and inflation amid an economic recession, according to industry officials, Friday. The Ministry of Land, Infrastructure and Transport's car registration data in December last year showed the number of vehicles registered by males in their 20s to 40s decreased by 98,967 f...

Kim Hyun-bin | 2023-01-13 17:04

FKI chairman voices intention to step down next month

FKI chairman voices intention to step down next month

Federation of Korean Industries (FKI) Chairman Huh Chang-soo expressed his intention to resign after his term ends next month, according to industry officials, Friday. Huh announced his intention last week while having a meal with the vice chairman of the FKI at a hotel in Seoul. The dinner was attended by Kolon Group Honorary Chairman Lee Woong-yeul and Hanjin Group Chairman...

Kim Hyun-bin | 2023-01-13 17:03

Team Korea to bolster exports of nuclear energy systems

Team Korea to bolster exports of nuclear energy systems

State-run energy companies and private firms in the nuclear energy industry will join hands to advance exports of the stable and affordable power generation systems, the energy ministry said following a meeting attended by officials from the sector, Friday. The Korea-developed APR1400, a nuclear reactor with a capacity of 1,400 megawatts, is increasingly recognized by its ind...

Lee Kyung-min | 2023-01-13 16:40

Appellate court acquits 3 officials in McDonald's tainted patty case

Appellate court acquits 3 officials in McDonald's tainted patty case

A former official of McDonald's Korea and two others were acquitted Friday on charges of lying about the amount of tainted patties in its inventory in an attempt to avoid administrative measures.

2023-01-13 16:01

Lotte chairman's oldest son comes to fore

Lotte chairman's oldest son comes to fore

Lotte Chemical Vice President Shin Yoo-yeol, the oldest son of Lotte Group Chairman Shin Dong-bin, has drawn attention recently, due to his frequent attendance at the conglomerate's important events, according to industry officials, Friday. Some consider his recent moves a signal that Lotte is accelerating its efforts to train him as the next leader to inherit control of the ...

Park Jae-hyuk | 2023-01-13 15:46

Political dispute intensifies over reappointment of KT CEO

Political dispute intensifies over reappointment of KT CEO

The KT board's plan to reappoint CEO Ku Hyeon-mo is causing an intensifying conflict with the National Pension Service (NPS), the telecom firm's largest shareholder under government control, according to industry officials, Friday. Earlier this month, the NPS lowered its stake in KT to 9.99 percent from 10.12 percent. Its decision was attributed to the regulation that forces ...

Park Jae-hyuk | 2023-01-13 15:44

SK Energy joins hands with state-run power supplier for future car charging stations

SK Energy joins hands with state-run power supplier for future car charging stations

SK Energy, a major Korean oil refiner, said Friday it is joining hands with a state-run electric power supplier to build electric vehicle (EV) charging infrastructure at traditional gas stations across the country.

2023-01-13 10:12

Kangwon Land to export slot machines to casinos in Philippines

Kangwon Land to export slot machines to casinos in Philippines

Kangwon Land will export slot machines to the Sheraton Manila Bay Hotel in Manila, after signing a sales contract with RGB, the largest slot machine retailer in Southeast Asia, the company said Tuesday. The company will first manufacture 30 slot machines and send them to the casino in the Philippines through RGB, which will be installed for use by April.

Kim Jae-heun | 2023-01-13 08:50

Lotte CEOs meet in person to plan for 2023

Lotte CEOs meet in person to plan for 2023

Lotte Group Chairman Shin Dong-bin is seeking ways to strengthen corporate competitiveness amid the global economic downturn, according to the company, Thursday. Lotte held the 2023 Lotte Value Creation Meeting (VCM), at Lotte World Tower in Seoul, Thursday, and discussed group management plans and medium- to long-term strategies as global market volatility and uncertainty ar...

Kim Hyun-bin | 2023-01-13 08:50

Concerns grow over ready-made frozen foods

Concerns grow over ready-made frozen foods

A 28-year-old barista surnamed Lee eats frozen foods at his work place from time to time, given that he doesn't have enough time to cook or rest during his lunch break. “I often eat fried rice foods that come in a frozen pack because they are ready-made and they only take two to three minutes to defrost. I kind of know they are not good for my health because they contain a hi...

Kim Jae-heun | 2023-01-12 17:09

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