ANYANG, Gyeonggi Province -- The economies of Association of Southeast Asian Nations members have been on a roller-coaster ride in recent years, pushing them to speed up their social and industrial transitions as advanced states. Such rapid modernization, like that which South Korea went through in the 1970s and ’80s, involves massive investments in infrastructure, which will provide more opportunities for LS Cable and System Asia, said its President and CEO Kwon Young-il in an interview.&

Mobility Nov. 24, 2019

Kia unveiled the third generation of its bestselling sedan K5 on Thursday and commenced preorders, highlighting its futuristic design and interactive voice control technology.Through the use of “active” interaction technology, passengers can control the air conditioner, air filtering, windows, electronic heat systems for the seats and rear window via voice commands, according to the company. In addition, a car-to-home system allows passengers to keep a tab on internet of things devic

Mobility Nov. 21, 2019

Korea Aerospace Industries, South Korea’s sole aircraft manufacturer, is participating in a four-day exhibition in Bangkok to promote its technological competitiveness and to pursue new contracts from the Southeast Asian country, ranked 26th in military strength.At the Defense and Security 2019, KAI will introduce three major products that have already won international recognition for their advanced technological features and competitive prices. The list includes KT-1, a single engine tur

Industry Nov. 19, 2019

Renault Samsung, the South Korean subsidiary of French carmaker Renault, has been targeting the niche markets of liquefied petroleum gas and commercial vehicles in recent months, to promote sales in the face of intensifying competition and a sluggish economy. QM6, a mid-sized sports utility vehicle powered by LPG, has boosted sales in the carmaker’s SUV segment by attracting customers looking for alternatives to diesel-powered SUVs here. Sales of SUVs with diesel engines have lost steam am

Mobility Nov. 19, 2019

Kia Motors said Tuesday its new sport utility vehicle targeted for North American market was named SUV of the year by an auto publication MotorTrend. The magazine also chose Peter Schreyer, president and head of design management of Hyundai Motor Group as the “person of the year.” Kia is a sister company of Hyundai Motor, South Korea’s largest carmaker.  Describing Telluride as a new flagship SUV that has raised Kia’s profile, the magazine said seven of its 11 judges

Mobility Nov. 19, 2019

A majority of top South Korean companies listed on the nation’s major bourse saw their operating profits fall rapidly in the third quarter on-year over protracted trade disputes and the stagnant global economy, data showed Monday.According to Infobigs, a data analysis unit of Yonhap News Agency, the combined operating profits of 90 affiliates from top 10 conglomerates plummeted 75 percent between July and September to 6.16 trillion won ($5.3 billion) from 25.28 trillion won in the same per

Industry Nov. 18, 2019

South Korean automaker Hyundai Motor ranked No. 1 on a list measuring carmakers’ corporate social responsibility activities in terms of the impact they had on the Chinese community, the company said Monday. According to an index published by the CSR Research Center of the Chinese Academy of Social Sciences, Hyundai topped the list for the fourth consecutive year. It also climbed up one notch to fourth place in a separate ranking that listed companies across industries. The research institu

Mobility Nov. 18, 2019

The first all-electric car launched by Mercedes-Benz Korea recently landed here, jumping into the eco-friendly car market which is still small but promising and currently dominated by Hyundai Motor and Kia Motors.Its main design concept “progressive luxury” instantly suggests where the German carmaker is headed, and is enough to excite its fans here with futuristic elements. But the question is: Can the EQC compete with other electric vehicles that have a driving range of h

Mobility Nov. 17, 2019

Samsung Electronics Co.'s first labor union under a major South Korean umbrella union group set sail Saturday.The union, under the Federation of Korean Trade Unions (FKTU), submitted a labor union establishment application to the government Monday and earned the approval two days later.  The union did not unveil the number of its members, but it is known to hover around 500. The union said its first goal is to recruit 10,000 members and that it plans to demand negotiations to the company on

Industry Nov. 16, 2019

Choi Sun-mok, president and the head of the communications committee at Hanwha Group, was on Thursday named the public relations person of the year by an association of publicists in Korea. Choi was given the award for his work of implementing a series of events including a Hanwha symphony festival and the annual firework festival, the organization said, adding that such events have helped Hanwha raise its profile and expand communication channels with the public.The president also led the compa

Mobility Nov. 14, 2019

Leading luxury retailer of furniture and home accessories Conran Shop announced Thursday the launch of its first outlet in upscale Gangnam District, southern Seoul.In a 10-year partnership with local retail giant Lotte Shopping, the London-based retailer of more than 300 designer brands will offer a unique curation of design classics and future icons. Korea’s lifestyle market has grown nearly 70 percent in in the past decade -- from 7 trillion won ($6 billion) in 2008 to 12 trillion won in

Industry Nov. 14, 2019

Hyundai Motor said Thursday it will invest $410 million to start production of the Santa Cruz compact sport utility vehicle in the US in 2021. Facilities will be expanded at its plant in Montgomery, Alabama, along with the deployment of related equipment, with the aim of starting sales in the US and Canada in the same year, it added. The investment will create 200 new jobs at the plant and an additional 1,000 at local suppliers and logistics companies supporting Hyundai in Montgomery and the Riv

Mobility Nov. 14, 2019

Koreans’ spending priorities are moving beyond the bare essentials, a survey showed Wednesday, with food, clothes and shelter all losing ground in the number of consumers who list them as their main concern.The basics had dominated South Korean consumers’ priorities, with the vast majority of consumers here listing their top concern as one of food, clothes or housing. Food still topped the most recent survey by the Korea Consumer Agency, with 21 percent of 8,000 respondents list

Mobility Nov. 13, 2019

Asiana’s would-be new owner, Hyundai Development Company is a real estate developer which has been seeking business expansion and diversification in recent years from leisure to retail.Founded as a builder for residential projects in 1976, HDC is part of the pan-Hyundai empire, sharing the family roots that thrived due to former Hyundai Group founder late Chung Ju-yung. The current Chairman Chung Mong-gyu is the son of late Honorary Chairman Chung Se-yung, younger brother to the group

Mobility Nov. 12, 2019

State-run power supplier Korea Electric Power Corp said Monday that it has signed a deal to sell electricity to the Guam Power Authority Pacific for 25 years.Kepco will start providing electricity in October 2022 after building a power plant. Korean builder Hyundai Engineering is set to construct a 200-megawatt combined cycle power plant in the US island territory in August 2020. The commercial operation of the plant will start two years later. A special purpose company in which Kepco holds a 60

Mobility Nov. 11, 2019