Samsung opens Germany showroom to deepen European built-in push

The Korea Times - Sep 22, 2026

Samsung Electronics is turning a German kitchen industry hub into a year-round showcase for its built-in appliances as it seeks to deepen partnerships and expand its presence in Europe. The company opened a roughly 480-square-meter permanent showroom on the first floor of Kitchen Center Löhne in Löhne, Germany, during Küchenmeile, a major business-to-business event for the European kitchen industry. Küchenmeile runs through Friday, drawing more than 300 brands and 25,000 industry visitors, Samsung said. The company has participated in the event since 2013, using it to introduce built-in appliances and connect with kitchen furniture companies and other industry partners. The new showroom is designed as a venue for product demonstrations, business consultations and training, giving industry visitors year-round access to Samsung’s built-in appliances and connected kitchen technologies. Its displays include Bespoke artificial intelligence(AI)-powered refrigerators, a Bespoke AI dishwasher, an induction cooktop with an integrated extractor and a Bespoke AI oven equipped with AI Pro Cooki

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Internet-only banks, regional lenders expand alliances to corporate lending

Sep 22, 2026

Internet-only banks, regional lenders expand alliances to corporate lending

Korea’s internet-only banks and regional lenders are expanding their co-lending partnerships beyond consumer credit into corporate lending, as they each look for new ways to grow their businesses, industry officials said Monday. KakaoBank and Busan Bank are preparing to launch a joint lending program for small and medium-sized businesses and sole proprietors, following a memorandum of understanding signed in April. The arrangement will combine KakaoBank’s nationwide digital platform with Busan Bank’s experience in assessing and managing business loans in its regional market. Until now, most co-lending partnerships between the two parties have focused on consumer credit. Toss Bank and Kwangju Bank introduced the industry’s first joint loan in 2024, followed by similar offerings from Kbank and Busan Bank, and from KakaoBank and Jeonbuk Bank in 2025. All three programs targeted salaried workers. Their expansion into business lending marks the next step. The incentives for both sides are clear. For internet-only banks, which have relied heavily on household lending, working with regio

Korea decides on 1st US investment project, draws up plans for 2 others

Sep 22, 2026

Korea decides on 1st US investment project, draws up plans for 2 others

Korea has decided on the first project it will pursue under its $350 billion U.S. investment pledge and drawn up implementation plans for two others as Seoul and Washington continue to finalize details of their investment agreement. Industry Minister Kim Jung-kwan briefed the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee on the projects Tuesday, saying the government had decided to pursue the project after reviews by committees chaired by the industry and finance ministers. “Today, I would like to report on one project for which the government has decided to pursue,” Kim said during the committee's plenary session. He added that the government had prepared implementation plans for two other projects that have not yet been approved but reflect shared interests between Korea and the United States. “Although we have not yet decided to pursue these projects specifically, I would like to report on the implementation plans for two projects that reflect the interests of both countries,” he said. Kim said the government had identified projects that could benefit

Korea decides on 1 US investment project, draws up plans for 2 others

Sep 22, 2026

Korea decides on 1 US investment project, draws up plans for 2 others

Korea has decided to pursue one U.S. investment project and drawn up implementation plans for two others as Seoul and Washington continue to finalize details of their investment agreement. Industry Minister Kim Jung-kwan briefed the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee on the projects Tuesday, saying the government had decided to pursue one after reviews by committees chaired by the industry and finance ministers. “Today, I would like to report on one project for which the government has decided to pursue,” Kim said during the committee's plenary session. He added that the government had prepared implementation plans for two other projects that have not yet been approved but reflect shared interests between Korea and the United States. “Although we have not yet decided to pursue these projects specifically, I would like to report on the implementation plans for two projects that reflect the interests of both countries,” he said. Kim said the government had identified projects that could benefit Korea and reviewed U.S.-proposed projects based on

‘I’d love to see more of it’: Telstra backs data centre boom amid backlash

Sep 21, 2026

‘I’d love to see more of it’: Telstra backs data centre boom amid backlash

The telco owns the cable that would connect new AI infrastructure and says Australia is ideal for an accelerated development despite opposition.

Stronger won to test chip, display firms' Q3 profitability

Sep 21, 2026

Stronger won to test chip, display firms' Q3 profitability

The strengthening Korean won is emerging as a fresh earnings risk for chipmakers, display firms and other electronics companies that rely heavily on dollar-denominated transactions, prompting brokerages to cut earnings estimates for the third quarter. According to data from the Bank of Korea, Sunday, the Korean currency traded at 1,480 won against the dollar on July 16, before strengthening to 1,413 won on Aug. 17 and 1,382 won on Sept. 17. This represents a 6.6 percent narrowing in the dollar-won exchange rate over the two-month period. The change in the dollar-won exchange rate accelerated particularly from August, with the Korean currency gaining value to 1,336 won per dollar on Sept. 9. This prompted brokerages that had based their earnings forecasts at 1,450 won per dollar to begin cutting their estimates, causing the third-quarter earnings consensus for major companies such as Samsung Electronics and SK hynix to drop. According to market tracker FnGuide, brokerages’ consensus on Samsung Electronics’ third-quarter operating profit stood at 122.35 trillion won ($88.27 billion) o

Authentic Korean convenience meals attract foreigners

Sep 21, 2026

Authentic Korean convenience meals attract foreigners

The global popularity of Korean food has reached a point where convenience store meal boxes, known as “dosirak,” have become part of a new market trend where signature Korean flavors and traditional recipes have become a hit with international visitors and popular in new markets. Min Jung-hwan, who plans and oversees dosirak production for GS25 at GS Retail’s Merchandise Headquarters, is seeing the shift firsthand. Rather than creating separate products for foreign customers, the retailer is increasingly offering the same dosirak that appeal to Korean consumers, reflecting growing interest in authentic Korean flavors. “We don’t make dosirak that are specially for foreigners because many of them like what Koreans enjoy. Even at GS25 stores in Vietnam and Mongolia, visitors are interested in authentic Korean-style dosirak. We try to meet such expectations so that they can feel they are inside a Korean convenience store,” Min said in an interview with The Korea Times. “To serve the rising number of foreigners coming to Korea, we are boosting a pipeline for those with banchan

Samsung Electronics breaks ground on HVAC production line in Gwangju

Sep 21, 2026

Samsung Electronics breaks ground on HVAC production line in Gwangju

Samsung Electronics held a groundbreaking ceremony for a heating, ventilation and air conditioning (HVAC) production line in the southwestern city of Gwangju on Monday. The company plans to invest approximately 240 billion won ($173 million) to build a 21,500-square-meter HVAC production line at its Gwangju operations site. The new production line, scheduled to begin operations in 2028, will manufacture HVAC products from FlaktGroup Holding GmbH, a Germany-based ventilation company that Samsung Electronics acquired last year. "The launch of the new FlaktGroup production line will serve as another milestone in advancing our HVAC business, a key growth driver for the company," Roh Tae-moon, co-chief executive officer of Samsung Electronics and head of its device experience (DX) division, said at the ceremony. Samsung said the new production line will strengthen its global production capabilities for advanced cooling equipment and centralized HVAC solutions as demand for cooling and HVAC solutions for artificial intelligence (AI) data centers continues to grow rapidly.

KRICT researchers develop cathode technology for high-capacity batteries

Sep 21, 2026

KRICT researchers develop cathode technology for high-capacity batteries

A research team at the Korea Research Institute of Chemical Technology (KRICT) has developed a new cathode technology that could help batteries store more energy without increasing their size or weight, the institute said Monday. The team, led by senior researchers Moon San and Suk Jung-don, developed a new dry thick cathode technology that improves the movement of lithium ions inside electrodes. The research was featured as the cover article of the international academic journal Exploration in August, with post-master's researcher Eun Hye-ji as the first author. The technology uses graphitic carbon nitride as an additive in dry cathodes for the first time, helping the electrolyte penetrate deeper into the electrode and reducing the energy required for lithium ions to enter the cathode material. One way to produce high-energy-density batteries is to make electrodes thicker, as this allows more active material to be packed into the same area. However, as electrodes become thicker, lithium ions have more difficulty moving through them, preventing the battery from fully utilizing the energ

KEPCO to keep electricity rates frozen for Q4 despite higher costs

Sep 21, 2026

KEPCO to keep electricity rates frozen for Q4 despite higher costs

State-run Korea Electric Power Corp. (KEPCO) said Monday it will keep electricity rates unchanged in the fourth quarter despite higher raw material prices and its financial difficulties. The adjusted fuel cost, a key component of electricity rates, will remain at the maximum level of 5 won per kilowatt-hour (kWh) for the October-December period, KEPCO said. KEPCO has kept the adjusted fuel cost at 5 won per kWh for 18 consecutive quarters since the third quarter of 2022. The adjusted fuel cost is set before each quarter within a range of plus or minus 5 won per kWh, based on energy prices, including coal and liquefied natural gas (LNG), over the previous three months. KEPCO said rates were due to rise by 7.3 won per kWh in the fourth quarter under the fuel cost adjustment formula. The decision to freeze rates is expected to further weigh on the company's finances. The company's financial difficulties began after it continued to supply electricity at prices below production costs as global energy prices surged between 2021 and 2023 following Russia's invasion of Ukraine. KEPCO and its power

After the holidays, job seekers in Korea get down to business: JobKorea data

Sep 21, 2026

After the holidays, job seekers in Korea get down to business: JobKorea data

For many in Korea, the end of a major holiday means back to business — literally. In the days immediately following a major festive break, job seekers across the country launch into an intense hunt for their next career move, according to data released Monday by the hiring platform JobKorea, operated by Worxphere. Looking at resume postings and job applications around the last two years of Chuseok and Seollal — Korea's autumn harvest and Lunar New Year holidays, both multiday breaks when many workers return to hometowns — JobKorea found new resume registrations consistently spike on the first Monday after each holiday. The sharpest jump came after Chuseok 2024, when resume postings on Sept. 23 that year more than doubled the average weekday rate, and ran about 3.7 times the average daily rate during the holiday itself. Similar patterns followed: resume postings rose 46 percent above the weekday average on Feb. 3, 2025, the Monday after that year's Seollal; 20 percent after Chuseok 2025; and 29 percent after Seollal 2026. Job applications followed the same pattern, peaking on the fi

LG Energy Solution eyes US ESS market with local production bases

Sep 21, 2026

LG Energy Solution eyes US ESS market with local production bases

LG Energy Solution has completed the establishment of its energy storage system (ESS) production network in North America, accelerating its push to capture growing demand in the rapidly expanding ESS market. Following the opening ceremony for LG Energy Solution Michigan-Lansing on Aug. 18, the plant is now ramping up operations. The Lansing plant serves as a combined manufacturing hub for lithium iron phosphate (LFP) batteries for ESS applications and nickel cobalt manganese batteries for electric vehicles (EVs), with an annual battery cell production capacity of more than 35 gigawatt-hours. The plant began producing pouch-type LFP batteries for ESS applications this year and plans to begin mass production of prismatic LFP batteries next year, marking LG Energy Solution's first prismatic battery production in North America. The company has also secured orders to supply EV batteries to Toyota. LG Energy Solution Michigan operates two production sites in the state, in Holland and Lansing. LG Energy Solution Michigan President Choi Dae-sik said that operating two plants in different locatio

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