Korea Shipbuilding & Offshore Engineering said Wednesday it has inked a 2.09 trillion won ($1.46 billion) contract to build seven eco-friendly ships. KSOE, the world’s biggest shipbuilder by order backlog, signed contracts with Denmark-based integrated logistics company Maersk and Excelerate Energy, for six 17,000 TEU methanol-powered large container ships and one 170,000 cubic meters of liquefied natural gas-floating and regasification unit (LNG-FSRU) respectively. Under the deal, Hyu

Industry Oct. 5, 2022

South Korean builder Daewoo E&C and its parent company Jungheung Group participated in a campaign to improve the living environment of a descendant of an independence patriot as part of its corporate social responsibility project on Friday, the companies said Tuesday. The campaign hosted by Habitat Korea involves renovating old houses in which descendants of independence patriots experiencing economic difficulties live. Employees of Daewoo E&C and Jungheung Group traveled to the residenc

Industry Oct. 5, 2022

The government will raise late-night taxi-hailing fees to 5,000 won ($3.49) which will go into the pockets of taxi drivers, not platform companies, to bring back drivers who left the industry during the pandemic curfew, the transport ministry said Tuesday. According to the plan devised to resolve the nighttime taxi shortage, taxis operating from 10 p.m. to 3 a.m. will receive up to 5,000 won as hailing fee. When the midnight basic fare is added, passengers in Seoul are likely to pay more than 10

Mobility Oct. 4, 2022

La Boutique Bleue, a premium home spa care brand that launched in South Korea in 2021, introduced a non-fungible token certification service, the company said Friday. According to LBB, it has offered VIP membership cards in the form of NFTs to participants that took part in the launch event of the Italian luxury golf wear brand Filippo Piana in Seoul. LBB had collaborated with Filippo Piana in hosting the launch event by showcasing its newest product, Golden Camellia All Day Care Lotion, and off

Consumer Oct. 4, 2022

Hyundai Motor Group’s hydrogen fuel-cell trailer drone concept Trailer Drone won the 2022 Red Dot Design Concept Luminary award, according to the company on Friday. It is the first time the South Korean automaker won the Luminary award, the highest level of recognition accorded at the Red Dot Award, it added. The Trailer Drone concept is a hydrogen-powered container transportation system capable of operating fully autonomously, with a double e-Bogie configuration. An e-Bogie serves as a pl

Mobility Sept. 30, 2022

Volvo Construction Equipment is betting big on its first full-electric excavator ECR25 Electric to take the lead in the construction equipment industry’s nascent but promising transition toward electromobility, according to its Asian chief on Wednesday. “The Korean market already has developed telecommunications infrastructure, and rapidly accepted electric private vehicles during the last few years, so the market also seems to have great potential in case the government strongly sup

Industry Sept. 29, 2022

Business leaders and experts called for a more balanced approach to regulating the blockchain industry more effectively during a seminar hosted by the American Chamber of Commerce in Korea in Seoul on Thursday. Dunamu CEO Lee Sir-goo criticized the Korean government for putting too much regulatory focus on cryptocurrency assets and their trading even though they are just the “tip of an iceberg.” “We have the technology to provide platforms for token trading and we have the tech

Industry Sept. 29, 2022

The key function of a car will continue to evolve from being a means of transportation to a personalized living space, said Yoon Il-hun, vice president of HMC Genesis Design Group at the Herald Design Forum 2022 held on Tuesday in Seoul. “As a car becomes a space for living, the purpose of a car will evolve infinitely without boundaries," said Yoon. "This is where we are seeing growing needs from our consumers, and we are focusing on such a key design pillar — the beauty

Mobility Sept. 27, 2022

Airport officials of South Korea and Japan on Monday pledged to make all-out efforts to facilitate travels between the two countries, with the resumption of visa-free, individual tours to Japan starting Oct. 11. According to the Korea Airports Corp., the state-run agency’s President and CEO Yoon Heyong-joon traveled to Japan to hold talks with airport- and tourism-related officials in Tokyo and Osaka. On Monday, Yoon met with Isao Takashiro, chairman and CEO of Japan Airport Terminal, at H

Mobility Sept. 26, 2022

Cases of reported car defects have more than doubled in three years, a lawmaker said Sunday. A total of 18,452 car defect reports had been filed to the Transport Ministry’s vehicle recall center from 2019 to 2021, according to Korea Transportation Safety Authority data that Democratic Party lawmaker Min Hong-chul had obtained. By year, 3,750 car defect cases were filed in 2019, 6,917 cases in 2020, and 7,785 cases in 2021, an increase by 2.1 times during the past three years. Defects repor

Mobility Sept. 25, 2022

Posco International, a trading firm under Posco Group, said Sunday that it was investing around 140 billion won ($98.38 million) to triple the natural gas production of its subsidiary Senex Energy Limited in Australia by 2025. According to the company, the investment is aimed at contributing to stabilizing energy costs in South Korea. The price of natural gas is expected to remain high for a while from the impact of the global natural gas shortage due to Russia switching off its gas pipelines fl

Industry Sept. 25, 2022

A group of haenyeo, female divers with age-old ocean harvesting skills, marches in a parade to celebrate the 15th Jeju Haenyeo Festival that kicked off on Saturday in Jeju Island. The two-day event has resumed after a three-year hiatus due to the COVID-19 pandmic. (Yonhap)

Culture Sept. 24, 2022

When designing a Genesis car, Yoon Il-hoon, vice president of HMC Genesis Design Group, says he focuses on three key pillars -- audaciousness, progressiveness, and infusing Korean traits. “The journey of Genesis has not been that long but we are always owning up to audacious challenges when designing new models by exploring progressively and incorporating the most Korean-like traits that can accentuate the brand’s originality,” Yoon said in an interview with The Korea Herald.

Mobility Sept. 21, 2022

Korea Herald correspondent AMSTERDAM -- Upon arrival at Schiphol Airport, the third-busiest airport in the world, hundreds were lined up at closed check-in counters. For a flight that was to take off at 9 p.m. to Incheon, South Korea, there were more than 200 people waiting in line already for the check-in counter to open at 4 p.m. “We came here as early as possible because our tour guide told us Schiphol Airport is extra busy these days due to a manpower shortage. He said we could miss ou

Mobility Sept. 21, 2022

Korea Herald correspondent KRAKOW, Poland—Incheon Airport will be hosting a global summit on airport customer experience held by the Airports Council International in Incheon next year. The announcement was made during the closing ceremony of the ACI CX Global Summit 2022 held in Krakow, Poland, on Thursday. This follows Incheon Airport winning the level 5 Customer Experience Accreditation, the highest level and the first granted by the ACI since accreditation began in April 2019, in recog

Mobility Sept. 19, 2022