Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Japanese car sales increase for first time since boycott began
Sales of Japanese cars in South Korea increased for the first time since a nationwide boycott of Japanese products began here last year, data showed Thursday. According to the Korea Automobile Importers and Distributors Association, the number of Japanese automobiles newly registered in August was 1,413, up 1.1 percent from the same time last year, when it stood at 1,398. The increase comes 13 months after a trade conflict broke out between the two countries in July 2019 and triggered the b
Sept. 3, 2020
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HDC-Asiana deal headed for collapse
Despite months of back-and-forth and attempts at breakthroughs, the acquisition talks between HDC Hyundai Development Company and Asiana Airline are likely to fall apart, according to reports Thursday. In an email Wednesday, the building company once again told Korea Development Bank, the airline’s creditor, to undertake a fresh round of due diligence for 12 weeks, local reports revealed. KDB and the airline’s owner Kumho Industrial have been adamant against another round of due dil
Sept. 3, 2020
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Hyundai Glovis partners with Norwegian firm for eco-friendly shipping business
Hyundai Glovis said Thursday it has partnered with Norwegian-based shipping group Wilh. Wilhelmsen Holding ASA to proactively respond to changes in the future shipping industry. The two firms signed a memorandum of understanding on coping with changes in gas carriers and the shipping environment. The Korean logistics firm said synergy is expected in future shipping businesses, such as entering the gas marine transportation industry and operating hydrogen ships. Under the agreement, the two
Sept. 3, 2020
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Incheon Airport projected to lose over W430b this year
Incheon International Airport Corp. is set to post an annual deficit of over 430 billion ($ 363 million) won this year, according to its latest projection Monday. As things stand in August, the airport is on course to be in the red this year, marking the first time in 17 years since 2003. The projection comes following a sharp drop in the number of flights and revenue during the first half of 2020, which saw its previous projected deficit grow over time since the first quarter. “The pro
Aug. 31, 2020
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Hyundai Motor unveils Ioniq brand song with BTS
Hyundai Motor said Monday it will introduce brand song of its new electric vehicle Ioniq with boy band BTS. The brand song “Ioniq: I’m on it” will be distributed on the automaker’s global website at 7 p.m. on Monday. Hyundai Motor and BTS have been working together on various marketing activities for three years since the band was chosen as Palisade’s global PR ambassador in 2018. The automaker said the latest project aims to convey a vision of the infinite po
Aug. 31, 2020
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Hyundai Motor to field 9 new vehicles in China by end of 2021
Hyundai Motor will launch nine new cars in China by the end of next year to seek a turnaround in its sluggish sales in the world’s biggest car market. South Korea’s largest automaker announced Sunday that, starting next month with sport utility vehicle Palisade, it will introduce three sedans, three recreational vehicles and two electric vehicles in the country through 2021 to rebound after sales there plummeted in recent years. The automaker’s three sedans include the new
Aug. 30, 2020
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[Herald Interview] A progressive launch of airline in midst of pandemic
Launching a startup, let alone a brand new airline, is not an easy task. And much more so at a time when the aviation industry has come to a near-halt. Since the COVID-19 pandemic began, airlines across the world have been scrambling to survive, with most suffering heavy losses. But CEO of up-and-coming budget airline Aero K Mike Kang, a 44-year-old businessman who has held a senior role at entertainment mogul CJ E&M and equity firm EMP Belstar, will soon see his planes fly after receivi
Aug. 30, 2020
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Eastar Jet to send letters of intent to candidates this week
Low-cost carrier Eastar Jet is speeding up a new acquisition deal after talks with Jeju Air were scrapped last month. The airline said Sunday its financial advisers Deloitte Korea, Yulchon and Heungkuk Finance Group would send letters of intent to takeover candidates this week. Three to four large funds and companies are reported to have already expressed their intention to invest. An Eastar Jet official said, “There were some companies that can be known by their names, and some of
Aug. 30, 2020
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Kia Motors launches revamped Stinger Meister
Kia Motors launched the face-lifted version of sports sedan Stinger Meister on Thursday, with enhanced performance. Revealing a promotional video featuring actor Go Soo on YouTube and Naver TV, the automaker presented the upgraded model, which was first released in 2017. The new Stinger Meister is offered with two gasoline engines, the new Smartstream 2.5 Turbo and 3.3 Twin-Turbo. It is the first time for Kia to equip the Smartstream G2.5 T-GDI in its vehicle. The Smartstream 2.5 Turbo pr
Aug. 27, 2020
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Mercedes-Benz Korea unveils 3 new models of luxury SUV family
Mercedes-Benz Korea on Thursday unveiled three new luxury sports utility vehicle models, expanding its premium SUV lineup to nine in the country. In the unveiling ceremony held via its official YouTube channel, the automaker presented Mercedes-Benz GLB, a “versatile” family SUV; the new Mercedes-Benz GLA, a dynamic sporty SUV; and the new Mercedes-Benz GLE Coupe, a premium coupe SUV. Opening the unveiling event was interim President and CEO Kim Jee-seop, who was formerly vice pre
Aug. 27, 2020
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Real estate startups surge in H1 despite pandemic
New startups, particularly those in real estate, surged in the first half of this year despite the impact of the pandemic, data showed Thursday. According to the data released by the Ministry of SMEs and Startups, the number of new startups in the January-June period was 809,599, up 26 percent from the same period last year. The surge was attributed to new real estate businesses, which stood at 292,810 during the period, up 131.6 percent year-on-year. The real estate sector accounted for 36.
Aug. 27, 2020
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KDB says ball in HDC’s court after chiefs’ talks on Asiana deal
The Korea Development Bank, Asiana Airlines’ main creditor, said it will await HDC Hyundai Development Company’s answer on acquiring the airline after a fresh round of talks between their chiefs in Seoul on Wednesday. In a statement, KDB said the high-profile discussion between KDB Chairman Lee Jong-gull and HDC Chairman Chung Mong-gyu took place with “all options on the table.” It said further plans will be decided in consultation with Kumho, the airline’s majo
Aug. 26, 2020
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Samsung donates over $4m in US to support fight against COVID-19
South Korean tech giant Samsung Electronics is continuing to help various communities hit by the COVID-19 pandemic worldwide, with its latest donation worth $4 million going to nonprofit organizations in the United States, according to the company on Wednesday. The donation was announced through its Samsung America newsroom homepage, which highlighted Samsung’s commitment to the local communities in the countries where it does business. According to the announcement, Samsung has pr
Aug. 26, 2020
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[News Focus] Struggling tire makers face bumpy road ahead
South Korea’s major tire makers -- Hankook Tire, Kumho Tire and Nexen Tire -- have been smacked with a triple whammy. Local automakers are increasingly adopting imported brand tires, while the US antidumping probe on Korean tires is raising uncertainty in the global market. Internally, they face family feuds and labor-management conflicts. In the second quarter, the three tire makers posted dismal earnings amid the economic slowdown due to the pandemic. Hankook Tire’s sales
Aug. 26, 2020
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Singapore’s antitrust agency approves KSOE-DSME merger
Singapore’s antitrust watchdog has approved the merger of the world’s two largest shipbuilders, Hyundai Heavy Industries confirmed Tuesday. The Competition and Consumer Commission of Singapore concluded the screening process by saying in a notice that “there is no disagreement about the approval of a tie-up between Korea Shipbuilding & Offshore Engineering and Daewoo Shipbuilding & Marine Engineering.” KSOE is a subholding company of HHI group’s shipbui
Aug. 25, 2020
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Korean Air sells in-flight catering business at W990b
Korean Air has sold its in-flight catering and duty-free business to private equity fund Hahn & Co. for 990 billion won ($758 million) as part of its efforts to secure liquidity. The decision was approved by the board of directors on Tuesday, with plans to acquire 20 percent stocks of what would become a newly established corporation to secure the supply chain. The move is the latest in a series of efforts to secure funds to keep the airline afloat as the pandemic is predicted to prolong.
Aug. 25, 2020
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Renault Samsung’s XM3 appeals to younger buyers
Renault Samsung Motors’ compact sport utility vehicle XM3 is gaining praise from young consumers for its unique design, according to market watchers. The XM3 reportedly sold 10,000 units in just 49 days after its release in March, a record for the company. The compact SUV sold over 5,000 units monthly for four consecutive months following its launch, accumulating sales of 24,161 units as of July -- the highest figure in four months, in the domestic compact SUV market. The vehicle&rsqu
Aug. 25, 2020
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What makes SsangYong Rexton Sports timely choice
With the rising popularity of car camping in South Korea, the pickup truck market in the country has surged in recent years, up from around 22,000 vehicles sold in 2017 to 42,000 in 2018. The trend has only grown with the COVID-19 pandemic as more people are opting for outdoor and social-distancing activities that require larger storage and stronger off-road driving capacity. Leading the segment is SsangYong Motor’s Rexton Sports, which pioneered the Korean market for open-deck sports
Aug. 25, 2020
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Hyundai tops JD Power’s advanced tech survey
Hyundai Motor ranked first in satisfaction for high-tech automobiles in the US mass market, according to the latest survey of US research firm JD Power on Tuesday. Hyundai ranked highest in the mass-market segment with a score of 556, offering an above-average level of technologies and scoring well for excellence in execution. Subaru (541) ranked second, followed by Kia (538), Nissan (534) and Ram (520). In the luxury segment, Genesis (559) placed sixth. Volvo ranked highest overall with an
Aug. 25, 2020
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BMW Korea rolls out limited editions for 25th anniversary
BMW Korea said Monday it is launching three new limited edition models online to celebrate 25 years in Korea. The automaker will be releasing two sport activity vehicles -- X5 M50i and X6 M50i -- and the sport sedan M340i in its signature metallic gray. Only 25 of each of the models will be on sale at BMW Shop Online, the automaker’s online platform, at 2:05 p.m. on Tuesday. The SAVs are limited editions based on the M performance model M50i. The automaker said it is introducing
Aug. 24, 2020