Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Today’s K-pop] BTS pop-up event to come to Seoul
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Samsung Heavy seeks 3D design approval from ABS
Samsung Heavy Industries said Monday it has become the first shipbuilder to seek approval for its 3D model-based ships from American Bureau of Shipping. ABS sets standards for safety and excellence as one of the world‘s leading ship classification organizations. The South Korean shipbuilder said it began using the design techniques since 2016 but has taken an extra step for approval from ABS. “Shipbuilders must obtain approval from a classification society for the design of ship
July 27, 2020
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S. Korea's H1 auto output hits 11-year low amid coronavirus
South Korea's auto output sank nearly 20 percent to an 11-year low in the first half of the year due to the coronavirus outbreak, industry data showed Monday. Industry leader Hyundai Motor Co. and four other automakers produced 1.63 million vehicles in the January-June period, down 19.8 percent from a year earlier, according to the data from the Korea Automobile Manufacturers Association (KAMA). It was the lowest figure since the 1.53 million units produced in the first half of 2009. The sha
July 27, 2020
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HDC calls for repeat of due diligence on Asiana to break deadlock
HDC Hyundai Development Co. on Sunday called for an additional round of due diligence on Asiana Airlines as it reaffirmed its interest to close the $2.2 billion deal to take over the country’s second-largest full-service airline. However, this move is casting doubts over the successful closure of the mega-deal to acquire Asiana considering the aggravating financial situation of the airline amid the protracted COVID-19 impact on the aviation industry. The midsized construction unit of H
July 26, 2020
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[Behind the Wheel] Renault Samsung’s SM6 returns with more power
INJE, Gangwon Province -- There are no remarkable changes to the exterior, but the revamped version of the Renault Samsung Motors flagship midsized sedan SM6 does appear to have been “reborn with a new heart,” as the automaker describes it. Ambitiously presenting the face-lifted model of the SM6 last week, Renault Samsung Motors invited reporters to the Inje Speedium, a 3.91-kilometer circuit in Gangwon Province, on July 16 to test-drive the car on the track and nearby winding roa
July 26, 2020
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Jeju Air pulls plug on Eastar Jet with nowhere to go
After months of negotiations and trading barbs, Jeju Air finalized its decision Thursday to scrap its plans to purchase Eastar Jet -- a decision that Jeju said was inevitable amid uncertainties, but was detrimental to the Eastar Jet that now faces real risk of bankruptcy. “Despite the government’s willingness to support and mediate, the level of uncertainty facing Jeju Air was too high to move forward with the acquisition,” the airline said in a statement. Jeju Air, South K
July 23, 2020
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New models defend further drop in Hyundai earnings
Korea’s largest automaker Hyundai Motor posted half of its operating profit in the second quarter from a year earlier. But the earnings still came above market expectations due to the launch of new models. Hyundai Motor’s operating profit fell 52 percent to 590 billion won ($493 million) and sales dropped 19 percent to 21.86 trillion won, according to the firm’s regulatory filings Thursday. Net profit fell 62 percent to 377 billion won. The automaker said, “The globa
July 23, 2020
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Air traffic for world’s busiest Jeju-Seoul route falls by 30%
In the midst of the coronavirus pandemic, traffic for the world’s busiest air route between Seoul and Jeju fell by nearly 30 percent during the first six months of the year, compared to the same period last year. Nearly 5.59 million passengers made trips on the route between January and June – a 31 percent drop from last year’s figure of 8.18 million, according to data from Korea Airports Corporation, a public enterprise behind Gimpo Airport. In a report from aviation analys
July 22, 2020
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Korean Air closes European, Southeast Asian HQ amid pandemic
South Korea’s flag carrier Korean Air said Tuesday it has closed its regional headquarters in Europe and Southeast Asia in an effort to “streamline” business operations as the coronavirus pandemic continues. A company official said the move was made to respond to the “changing business environment more quickly and effectively.” The work that had been undertaken by the regional headquarters will be handled by other regional branches. “We will create a globa
July 21, 2020
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Chartered flights to bring bizmen to Vietnam, China this week
South Korea said Tuesday it plans to send businessmen on chartered flights to Vietnam and China this week as the new coronavirus pandemic has virtually suspended global air traffic, disrupting their travels. Under the plan, around 570 businessmen from 240 companies will start being sent to Vietnam on chartered airplanes Wednesday, according to the Ministry of Trade, Industry and Energy. Through August, South Korea plans to send 1,500 workers to the Southeast Asian nation. The flight to Chin
July 21, 2020
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Samsung, Hyundai Motor heirs set to discuss cooperation in mobility biz
Heirs of South Korea's top two conglomerates -- Samsung and Hyundai Motor -- will discuss possible cooperation in the electric vehicle (EV) and mobility businesses, the groups said Tuesday. Lee Jae-yong, Samsung's de facto leader, shared his views on future mobility solutions with Hyundai Motor Group Executive Vice Chairman Chung Euisun following his visit to the automaker's Namyang Research & Development Center in Hwaseong, south of Seoul. Lee was accompanied by Samsung Electronic
July 21, 2020
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Tesla Model 3 on hire in Seoul: SK Rent-a-Car
South Korea’s rental service firm SK Rent-a-Car said Monday it has launched a rental service for Tesla Model 3 at its 10 branches in Seoul and Gyeonggi Province “As demand for electric vehicles continues to increase, we have recently released new products of Tesla, the most favored EV of customers,” a company official said. A total of 21 Tesla Model 3 units will be offered as short-term rental cars. Customers can make reservations through the firm’s website or custome
July 20, 2020
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Volvo Cars Korea ditches diesel to go all hybrid from 2021
Volvo Cars Korea said Monday it will no longer offer pure diesel or gasoline cars starting with its 2021 models and instead sell only hybrid cars. According to the automaker, Volvo cars will be available only in mild hybrid or plug-in hybrid vehicles starting with its 2021 models in Korea, as it aims to become carbon neutral by 2040. Korea will be the first country where Volvo won’t sell pure diesel cars at all, the company said. Volvo Cars Korea will replace D5, T4, T5 and T6 inte
July 20, 2020
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Incheon Airport ditches controversial ‘phoenix-inspired’ logo option
Incheon International Airport Corp. says it is not going forward with a mythical bird-inspired logo for the corporation’s 20th anniversary next year after a leaked image online drew criticism. In an emailed statement on Sunday, the company confirmed it had ditched the new corporate identity design after “considering the majority’s opinions.” “It’s regretful that the draft was misreported as an official one,” the company said as it explained it was one
July 20, 2020
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SsangYong reveals teaser of first EV E100
SsangYong Motor on Monday unveiled a teaser image of its first electric vehicle, which has been developed under the project name “E100.” The automaker’s new, electric subcompact sport utility vehicle is set to be released in the first half of next year. Prior to the launch of the new EV, the automaker released an image that graphically expresses its exterior design. The firm said the overall design is based on a streamlined line that reflects aerodynamics optimized for urban
July 20, 2020
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Korea Shipbuilding wins W86b order from Europe
Korea Shipbuilding & Offshore Engineering Co. said Monday that it has won an 86 billion won ($71 million) deal from a European company to build two petrochemicals (PC) carriers. Under the deal, Hyundai Mipo Dockyard Co., a shipbuilding unit of Korea Shipbuilding, will start constructing the ships in November and deliver them to the buyers from the second half of 2021, Korea Shipbuilding said in an e-mailed statement. The deal has an option to build an additional PC carrier. So far thi
July 20, 2020
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[The Heirs (4)] Hurdles remain for second son in inheriting Hankook Technology Group
Despite public apathy and tougher shareholder censure, South Korea’s chaebol groups are preparing a generational shift in leadership. The Korea Herald looks at different conglomerates and succession scenarios. -- Ed. Hankook Technology Group, formerly known as Hankook Tire, was founded in 1941 and was South Korea’s largest and the world’s sixth-largest tire manufacturer by revenue as of 2019. The group operates major units including Hankook Tire & Technology, Hank
July 19, 2020
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Hyundai Motor becomes best-selling car maker in Vietnam in first half of 2020
Hyunda Motor became the best-selling car maker in Vietnam during the first half of this year, surpassing Toyota by a slight margin. The South Korean automaker sold 25,358 units during the first six months of 2020, according to data from Hyundai and the Vietnam Automobile Manufacturers’ Association, with its Japanese rival trailing by 181 units. Hyundai cars accounted for 21.3 percent of the market share, up 2.6 percentage points from the same time last year. It marks the first time the
July 19, 2020
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Hyundai tipped to sell more than 100,000 new Grandeur sedans 8 months after launch
Hyundai Motor Co.'s new Grandeur sedan is likely to see its sales top 100,000 units this month, eight months after its launch in the domestic market, industry sources said Sunday. Hyundai Motor launched the face-lifted Grandeur in November last year and aimed to sell 110,000 units in the domestic market this year. According to the sources, Hyundai has sold 90,000 new Grandeur sedans through June this year since its launch. The new Grandeur has been the bestselling model in the domestic marke
July 19, 2020
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Concerns raised over Tesla’s ‘misleading’ ad on autonomous driving system
After a German court ruled that Tesla’s advertisement on the capabilities of its autonomous driving system is “misleading,” a civic group in South Korea on Friday raised concerns and urged authorities here to inspect the firm. In a statement, Citizens United for Consumer Sovereignty, a nonprofit organization, urged the US-based automaker to withdraw its advertisement, which it claimed is exaggerated to misinform consumers as if Tesla cars can fully drive on their own. On Tu
July 17, 2020
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Transport Ministry orders recall of 34,268 cars from seven carmakers
The Ministry of Land, Infrastructure and Transport said Friday it has ordered a recall of 34,268 vehicles -- sold by Hyundai Motor, Kia Motors, Renault Samsung Motors, Toyota, Mercedes-Benz Korea, Hanbul Motors and BMW Korea -- for faulty components. The defective components found in 23 models sold by the seven carmakers include faulty air bag in Hyundai Motor’s Avante, loose nut for generator inside Carnival, worn-out gearshift for Soul EV and oil leak in Renault Samsung’s M
July 17, 2020