Most Popular
-
1
Korean labor force to shrink by 10 million by 2044: report
-
2
Pandemic left Korea more depressed than before: report
-
3
[AtoZ Korean Mind] Does your job define who you are? Should it?
-
4
Allegations surrounding BTS resurface, enraged fans demand apology
-
5
Students with history of violence will be barred from becoming teachers
-
6
Medical feud leaves hospitals in financial crisis
-
7
Samsung mocks Apple over iPhone alarm glitch
-
8
Chip up cycle won’t stay long: SK chief
-
9
'Queen of Tears' riding high on Netflix chart
-
10
Govt. asks hospitals to mitigate impact of medical professors' absence
-
Samsung Electronics launches new automobile lighting package
[THE INVESTOR] Samsung Electronics has launched the Flexible Chip Scale Package for automotive LED lighting, seeking to accelerate its market share, the company said on June 21. The package allows a compact design to be built in a position lamp or a headlamp with wide beam angle and low thermal resistance according to the company. The company expects the package to cater to automotive lighting that requires huge intensity of radiation based on different usage. Flexible Chip Scale PackageThe co
June 21, 2016
-
Korea to fine Volkswagen W80b: report
[THE INVESTOR] Korea’s antitrust agency will fine Volkswagen around 80 billion won (US$ 68.9 million) for deceiving customers with false advertisements in the German automaker’s emission rigging scandal that affected millions of cars globally, including here. The state-run Fair Trade Commission is probing VW’s false advertisement claims, the agency’s head Jeong Jae-chan said in an interview with local media on June 21. The agency has looked into VW’s advertisements from 2009 to 2015, which toute
June 21, 2016
-
Koreans shifting to second-car ownership: data
The number of registered passenger vehicles in South Korea is expected to top 20 million this month, heralding the advent of the "one household with two cars” era, data showed Tuesday.The number of registered passenger cars here came to 19,964,178 as of the end of May, according to the data compiled by the Ministry of Land, Infrastructure and Transport. Ministry of Land, Infrastructure and Transport (Yonhap)It marked a steady increase from 19.7 million in January, 19.75 million in February, 19.8
June 21, 2016
-
Tesla set to start sales in Korea
[THE INVESTOR] The US electric car manufacturer Tesla Motors is hiring new staff, including shop manager, sales advisor and software engineer, to work in Seoul, hinting that its first Korean store is imminent. Tesla has long gauged the marketability of full-electric sedans in a market where Hyundai and Kia cars dominate almost 70 percent of total car sales, even though it has continued supply talks with Korean battery and display makers. Tesla Model 3 prototype.In November last year, the firm re
June 21, 2016
-
Hyundai, Kia merge China departments
[THE INVESTOR] The Chinese operations of Hyundai Motor Group’s two carmakers have been placed under a single control tower as the group seeks to strengthen operations in the world’s largest automotive market. According to the carmakers, Beijing Hyundai Motor, Dongfeng Yueda Kia, and China marketing divisions of Hyundai Motor and Kia Motors have been placed under the body that oversees the group’s operations in China.The organization in charge of the group’s operations in China is headed by Kim T
June 21, 2016
-
[DECODED: LOTTE] Shin Dong-bin’s battle wages on
[THE INVESTOR] In front of a bank of flashing cameras, Lotte Group chairman Shin Dong-bin took to the witness stand for a parliamentary audit for the first time as a chaebol chief on Sept. 17 last year. The five-hour grilling took place just as the public’s hostility toward Lotte -- including for its national identity, murky governance and bitter fraternal war -- was reaching its climax. Lawmakers were eager to drive him into a corner. But Shin remained outwardly calm even then, though his hands
June 20, 2016
-
[DECODED: LOTTE] Timeline of Lotte family feud
June 20, 2016
-
[DECODED: LOTTE] Lotte in numbers
June 20, 2016
-
VW gasoline car owners to file criminal charges
Korean owners of Volkswagen’s gasoline vehicles will be seeking criminal charges against the German carmaker for manipulating its software to pass emissions tests, said a legal representative here on Monday. “We are gathering customers to file class-action suits as well as criminal charges against the automaker. (For criminal charges), the system manipulation may cause an engine breakdown, which may lead to physical damages to users,” Ha Jong-sun, a lawyer at Barun that represents those customer
June 20, 2016
-
Lotte affiliates purchased $192.7m worth of owner family’s shares
[THE INVESTOR] Lotte Group affiliates have frequently purchased stocks of unlisted companies owned by the group’s owner family, including the founder Shin Kyuk-ho and his three children, since 2001, data by an online corporate tracker showed on June 19. According to Chaebul.com, Lotte’s seven affiliates, including Hotel Lotte -- the de facto holding company of its Korea operations -- have spent a total of 224.6 billion won ($192.7 million) to purchase shares of private companies owned by the fou
June 20, 2016
-
Korea-US FTA boosts US car sales in Korea
[THE INVESTOR] US carmakers’ sales in Korea overtook that of Japan for the first time in 2015, industry data showed on June 20. The change is thought to have been brought on by the Korea-US free trade agreement implemented in 2012. Following the FTA, the tariff on US-built vehicles was initially cut from 8 percent to 4 percent. From this year, the tariff has been completely removed. Ford New kuga 2016.According to Korean and Japanese automobile importers’ associations, US marques’ Korean sales c
June 20, 2016
-
U.S. sold more cars in Korea than Japan last year
U.S. carmakers sold more cars in South Korea than Japan last year, industry data showed Monday, due mainly to the competitive advantages of the free trade deal between Seoul and Washington.Sales of American cars in South Korea came to 17,501 units last year, compared with 14,623 units of U.S. cars sold in Japan, according to the Korea Automobile Importers and Distributors Association and Japan Automobile Importers Association.It marked the first time that sales of American cars in South Korea ha
June 20, 2016
-
VW gasoline customers to file criminal charges
[THE INVESTOR] Korean customers of Volkswagen’s gasoline vehicles are set to file criminal charges against Audi Volkswagen Korea. The move comes in the wake of the recent disclosure by prosecutors that the German carmaker rigged software of its gasoline cars to cheat on emission tests, local news reported on June 19. “Following the diesel vehicle scandal, it has been revealed that gasoline cars were also manipulated. We plan to gather victims here and file a lawsuit against Audi Volkswagen Korea
June 20, 2016
-
City cars favored over compact sedans: data
[THE INVESTOR] City cars, such as the Chevrolet Spark and Kia Morning, are enjoying popularity among Korean drivers as carmakers are offering aggressive promotions to new buyers, industry data showed on June 20. According to the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the same period. The best-selling city car Chevrolet Spark.There are three such car models -- the
June 20, 2016
-
Small cars favored over compact sedans this year: data
The sales of city cars in South Korea, such as the Spark and the Morning, have remained firm this year on the back of aggressive promotions by automakers, with their combined sales exceeding those of compact sedans, industry data showed Monday.According to the data compiled by the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the cited period.Currently, there are three
June 20, 2016
-
Global automakers moving on mobility
Global automakers are seeking to transform from mere car manufacturers into transportation providers -- offering diverse auto-related services such as car-sharing and ride-hailing services-- amid growing concerns that self-driving technology may bring down car sales in the future. This year, several auto giants have aligned themselves with tech firms or announced mobility plans, although Korean automakers including Hyundai Motor and Kia Motors have not yet made any big deals in this area. Early
June 19, 2016
-
Authorities to wrap up probe on humidifier sterilizer cases
[THE INVESTOR] South Korean prosecutors will be wrapping up the five-month investigation into toxic humidifier disinfectants that left at least 140 dead and hundreds more affected since 2011, according to officials on Sunday.The special probe team of Seoul Central District Prosecutors Office is expected to press charges against some 20 people related to the incident, including 12 already arrested on charges varying from professional negligence to false advertising that products were safe. The su
June 19, 2016
-
Lotte brothers prepare for showdown in Japan amid probe
[THE INVESTOR] Amid the widening investigation into Lotte Group, a fresh round of fraternal conflict between Lotte chairman Shin Dong-bin and his brother Shin Dong-joo is expected to take place on June 25 at a shareholders’ meeting of the Tokyo-based Lotte Holdings that controls Hotel Lotte, the de facto holding company of its Korea operations. Shin Dong-joo is expected to propose a motion to oust his brother and incumbent chairman Dong-bin who controls Lotte’s Korea and Japan operations. Shin D
June 19, 2016
-
More consumers reaching for affordable wines
[THE INVESTOR] Wine has found a new place in the lifestyles of Korean consumers who increasingly see it as a casual drink for everyday enjoyment due to falling prices and growing accessibility.According to the Korea International Trade Association, wine imports last year reached $189.8 million, surpassing the value of imported whisky for the first time. New trends indicate that much of the growth was fueled by Korean consumers’ increasing preference for affordable wines to enjoy at home. The vol
June 19, 2016
-
Hyundai Motor begins offering iPhone-friendly vehicles
South Korea's top automotive group Hyundai Motor Group is beginning to offer Apple's CarPlay system in its vehicles sold here, market observers said Sunday.Hyundai Motor Co., the bigger of the two automakers that make up the world's fifth-largest automotive group, began incorporating CarPlay into the infotainment system of the Hyundai Sonata this month, making it the first vehicle model produced and sold here that is CarPlay-compatible, according to the market observers.Apple CarPlay is a system
June 19, 2016