Naver's Dunamu takeover faces antitrust scrutiny amid competition concerns

The Korea Times - Nov 10, 2026

The Fair Trade Commission (FTC) has launched a formal review of Naver Financial’s planned acquisition of Dunamu, saying the deal could substantially restrict competition across multiple markets, including online payments and digital asset exchanges, the watchdog said Tuesday. The deal involves a comprehensive stock swap under which Naver Financial would acquire all shares of Dunamu. In return, Dunamu shareholders would receive about 2.54 shares of Naver Financial for each Dunamu share. Dunamu is the operator of the nation’s leading crypto exchange Upbit. If completed, Naver Financial would become Dunamu’s sole parent company, while Dunamu would become its wholly owned subsidiary. The proposed merger raises competition concerns in several relevant markets. The companies reported their corrective measures to ease such concerns, and the FTC initiated a review of the measured proposed by the two firms. Naver Financial seeks to bring one of Korea’s largest digital asset exchanges under its financial portfolio. The watchdog is expected to hold a hearing on the case soon. Final approval,

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Samyang's employee-led YouTube channel tops 2 mil. views in 3 months

Nov 9, 2026

Samyang's employee-led YouTube channel tops 2 mil. views in 3 months

Samyang Roundsquare, the parent company behind the Buldak spicy instant noodle maker Samyang Foods, said Monday its YouTube channel samyangman has surpassed 2 million cumulative views about three months after its launch in August. The channel airs “Fire or Fired,” an original series from BURNT, the company’s spicy food content brand. The show follows Tony, a Samyang employee who struggles with spicy food, as he tries fiery local dishes in New York, Texas, Los Angeles and other parts of the United States. Tony is what Koreans jokingly call a “maepjjiri,” slang for someone with a low tolerance for spicy food. Instead of hiring celebrities or influencers, the company cast its own employee, who interacts with locals on camera. The seven episodes released so far have drawn more than 2.18 million views as of Sunday. The most-watched episode, featuring a visit to Samyang America, the company’s U.S. subsidiary, logged 770,000 views, followed by episodes filmed in Nashville, Tennessee, and New Mexico. Viewers in the United States accounted for about 45 percent of total views, while th

CJ Olive Young to open 5 more US stores by mid-2027, expanding to San Diego

Nov 9, 2026

CJ Olive Young to open 5 more US stores by mid-2027, expanding to San Diego

CJ Olive Young, Korea’s largest health and beauty store chain, will open five more stores in California by the first half of 2027, bringing its U.S. total to seven, the company said Monday. The retailer opened its first U.S. store in Pasadena in May and a second at Westfield Century City in Los Angeles in June. Four of the new stores will be in the greater Los Angeles area: Spectrum Center, a lifestyle shopping center in Irvine; Del Amo Fashion Center in the South Bay area; Bloom on 3rd, a shopping complex near the Farmers Market in central Los Angeles; and Brea Mall in Orange County. The fifth will open at Fashion Valley in San Diego, its first outside the Los Angeles area. Opening dates for each store have not been set. Three of the sites — Del Amo Fashion Center, Brea Mall and Fashion Valley — are operated by Simon Property Group, a major U.S. mall owner. The company said the expansion will help small and independent Korean cosmetics brands, collectively known as K-beauty, reach American consumers without their own distribution networks. Olive Young said its stores also introduce

Hanwha Aerospace to conduct ship-based Chunmoo missile tests in US

Nov 9, 2026

Hanwha Aerospace to conduct ship-based Chunmoo missile tests in US

Hanwha Aerospace said Monday its U.S. subsidiary plans to conduct two test-firings of missiles from its Chunmoo multiple rocket launcher system in the United States as part of its effort to adapt the land-based system for naval use. The missiles will be launched from a vessel off the southern U.S. coast later this month to assess the system's suitability for shipboard deployment. The tests follow an April agreement between Hanwha Defense USA (HDUSA) and Florida-based Magnet Defense to develop a containerized Chunmoo launcher for the H38 medium unmanned surface vessel (MUSV). HDUSA has been expanding its presence in the U.S. maritime defense market. It is in talks to acquire Austal USA, the U.S. subsidiary of Australian shipbuilder Austal, with negotiations under way over key terms of the deal. Last month, HDUSA secured a $269 million contract from shipbuilding management company TOTE Services to build a medium landing ship for the U.S. Navy and Marine Corps. The deal came two years after Hanwha acquired Philly Shipyard in 2024, marking another step in its U.S. shipbuilding expansion.

Hyundai Motor's HTWO teams up with Air Liquide to expand hydrogen mobility in China

Nov 9, 2026

Hyundai Motor's HTWO teams up with Air Liquide to expand hydrogen mobility in China

Hyundai Motor Group said Monday its hydrogen business brand HTWO will partner with French industrial gas company Air Liquide to expand hydrogen-powered mobility in China. HTWO Guangzhou, the Korean automotive group's first overseas hydrogen fuel-cell system manufacturing base, signed a cooperation agreement with Air Liquide China on the sidelines of the China International Import Expo 2026, which opened in Shanghai last week. Under the agreement, the two companies will combine HTWO Guangzhou's hydrogen fuel-cell system technology with Air Liquide's expertise in hydrogen production, storage, transportation and infrastructure development. The partnership is aimed at accelerating the adoption of hydrogen-powered vehicles in China by integrating fuel cell technology with the hydrogen supply and refueling infrastructure.

Troubled broadcaster JTBC to select preferred bidder in January

Nov 9, 2026

Troubled broadcaster JTBC to select preferred bidder in January

Debt-ridden Korean broadcaster JTBC plans to select a preferred bidder in January, the company said Monday, putting up its official notice for the envisioned sale. The sale will be conducted through an open competitive bidding process through the injection of external capital, EY Hanyoung, the accounting firm advising the sale, said in the notice. Potential bidders can submit their letter of intent over the next four weeks. JTBC said it will conduct the sale in a "transparent and fair" manner in accordance with relevant laws and rehabilitation court procedures. "Through the merger and acquisition, we hope to establish a sustainable base for growth and strengthen content and channel competitiveness," the broadcaster said. The sale notice came some two months after the Seoul Bankruptcy Court approved JTBC's request to begin rehabilitation proceedings in late August, allowing the company to restructure its debts under court supervision.

Woowa Brothers, Coupang face $465 mil. in fines for abusing delivery market dominance

Nov 9, 2026

Woowa Brothers, Coupang face $465 mil. in fines for abusing delivery market dominance

Woowa Brothers and Coupang have been slapped with a combined 631.9 billion won ($465 million) in fines for abusing their dominant positions in Korea’s food delivery market by forcing affiliated restaurants to offer consumers prices and promotional terms at least as favorable as those available through competing channels. The Fair Trade Commission (FTC) said Monday it has decided to order the companies to rectify the unfair practices and impose provisional fines of 331.1 billion won on Woowa Brothers, the operator of Baemin, and 300.8 billion won on Coupang, which operates Coupang Eats. The two platforms account for more than 90 percent of the nation’s food delivery market share. According to the regulator's investigation, both companies abused their market power to impose so-called most-favored-nation (MFN) requirements on restaurants, restricting their ability to offer different prices, discounts and other terms through competing delivery platforms. The FTC said the practices made it difficult for restaurants to establish more favorable conditions on rival platforms and weakened co

KT opens coveted gold-number lottery to customers across carriers

Nov 9, 2026

KT opens coveted gold-number lottery to customers across carriers

KT is opening its latest gold-number lottery to mobile phone users across Korea, giving customers of rival carriers and budget phone services a chance to secure sought-after numbers such as 1111, 1234 and 1004. KT said Monday it would hold a drawing for mobile phone numbers considered particularly desirable because they are easy to remember or carry special meanings. The company is offering 155 categories of preferred numbers, including AAAA patterns, in which all four digits are identical, such as 1111 and 2222, and ABCD patterns featuring consecutive digits, such as 1234 and 5678. Numbers with particular meanings, including 1004 and 2580, are also included in the selection. Each applicant can enter the drawing for up to three numbers, KT said. Applications can be submitted at KT stores nationwide, through KT's website or via its My KT mobile application. Participation is not limited to KT subscribers, with customers using other mobile carriers and mobile virtual network operators, commonly known as MVNOs, also eligible to enter. The expanded eligibility gives mobile phone users across dif

KT&G targets Central Asia with launch of FLEX in Kazakhstan

Nov 9, 2026

KT&G targets Central Asia with launch of FLEX in Kazakhstan

KT&G, Korea’s leading tobacco maker, is expanding its next-generation product footprint in Central Asia by launching its FLEX heated tobacco device and FAIIM sticks in Kazakhstan. The Korean tobacco company said it introduced the products in October, marking its direct entry into Kazakhstan's heated tobacco market. FLEX and FAIIM are locally branded versions of KT&G's lil AIBLE device and AIIM tobacco sticks, which are already sold in Korea, adapted for the local market. The products are initially available only in Almaty, Kazakhstan's largest city, with KT&G planning to expand distribution channels gradually. The company is also operating a FLEX flagship store at Forum Mall, a major shopping center in Almaty, to strengthen its connection with local consumers. The store will offer brand information, customer consultations and other services designed to help consumers better understand the products and experience the brand. The launch forms part of KT&G's broader strategy to expand its next-generation products (NGP) business internationally after establishing an independent commercializat

Hansae Yes24 Foundation chairwoman honored for philanthropy

Nov 9, 2026

Hansae Yes24 Foundation chairwoman honored for philanthropy

Cho Young-soo, chair emeritus of the Hansae Yes24 Foundation, has received a commendation from the Seoul mayor for her charitable donations and humanitarian work, the foundation said on Monday. The Korean Red Cross recommended Cho for the honor, citing her sustained support for humanitarian causes, including a donation of 100 million won ($73,000) in July, according to the foundation. The donation also brought her into the Red Cross Honors Club, a group of major donors to the organization. Beyond her work through the foundation, Cho has used personal funds to support organizations including the Community Chest of Korea, Seoul National University and the Korean Red Cross, the foundation said. Her contributions also include support for students and younger generations as a senior figure in education. The foundation said those activities, alongside her donations, formed part of the basis for the commendation. Cho served as chairwoman of the foundation for five years beginning in 2018. During her tenure, she led programs supporting academic research, scholarships for international students,

Preorders for smart glasses built by Samsung, Google to begin on Thursday

Nov 9, 2026

Preorders for smart glasses built by Samsung, Google to begin on Thursday

Preorders for new artificial intelligence (AI)-powered glasses developed in partnership between Samsung Electronics and Google will begin later this week, industry officials said Monday. The Intelligent Eyewear, developed in collaboration with Korean eyewear brand Gentle Monster and U.S. brand Warby Parker, will be available for preorder starting Thursday, with an official launch expected in December, they said. Built on Google's Android XR platform, the glasses combine Samsung's hardware technology with Google's Gemini generative AI system to provide hands-free assistance through voice commands and visual recognition. Equipped with a built-in camera, the glasses can recognize objects and surroundings in the user's field of view and provide relevant information. They also support real-time translation, navigation and information searches, allowing users to access the features without taking out their smartphones. The collaboration is expected to help Samsung and Google expand their presence in the emerging AI-powered eyewear market that is dominated by Meta Platforms. Meta currently accoun

S-Oil donates $73,000 to support low-income families

Nov 9, 2026

S-Oil donates $73,000 to support low-income families

S-Oil said Monday it donated 100 million won ($73,000) to the Mapo Scholarship Foundation and the Mapo Welfare Foundation to support students from low-income families and promote community welfare. The donation ceremony was held at the Mapo District Office in Seoul, attended by S-Oil President Ryu Yeol, Mapo Scholarship Foundation Chair Kwon Oh-beom and Mapo Welfare Foundation Chair Kim Eun-young. The funds will be used to provide scholarships to students from low-income families in Mapo District and finance social welfare programs run by local institutions. “We hope our scholarships and donations will provide meaningful help to students facing difficulties and the local community,” Ryu said. “We will continue to grow alongside the community and uphold our commitment to environmental, social and governance management.” S-Oil has provided annual scholarships and welfare donations to low-income families in Mapo District, where its headquarters is located, since 2012 as part of its efforts to support the local community. Other community outreach programs include sharing rice cake sou

LG AI Research opens K-EXAONE 2.5 API free of charge

Nov 9, 2026

LG AI Research opens K-EXAONE 2.5 API free of charge

LG AI Research, the artificial intelligence (AI) research arm of LG Group, opened the application programming interface (API) for its upgraded EXAONE 2.5 foundation model free of charge, reporting a performance boost of over 70 percent in just eight weeks. The company announced the move at NVIDIA AI Day Seoul 2026, held at Coex in southern Seoul on Monday. Starting the same day, developers, startups, companies and research institutes can use the model in their services and research at no cost by obtaining an API key through the company’s platform, docs.exaone.ai. K-EXAONE 2.5 is a technology verification model built by applying additional training to K-EXAONE 2.0, the second model LG AI Research developed under the government’s sovereign AI foundation model project, which aims to build homegrown AI models that reduce Korea’s reliance on foreign systems. According to the company’s own tests on open datasets, K-EXAONE 2.5 performed on par with leading Chinese open-weight models DeepSeek V4.1 Flash and GLM 5.3 (max) in agentic AI, in which AI plans tasks and uses tools on its own t

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