Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
Daewoo E&C joins hands with Vietnamese constructor CC1
South Korean builder Daewoo Engineering & Construction has joined hands with Vietnam’s state-run constructor CC1 for partnership, the firm said Monday. The two firms signed a memorandum of understanding Friday at the Daewoo E&C headquarters in Seoul, agreeing to exchange information on bidding and projects in Vietnam. Based on its experience and expertise in domestic and overseas markets, Daewoo E&C said it would seek new business opportunities in Vietnam in the fiel
Industry Aug. 26, 2019
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Olive Young partners with WeChat Pay targeting Chinese consumers
Korean health and beauty store operator Olive Young said Monday that it has partnered with Chinese mobile payment platform WeChat Pay to introduce it as a payment option here, as the number of Chinese tourists looking to pay via mobile apps grows.According to the company, the number of Chinese tourists who paid via mobile applications from July 26 to Aug. 25 at its flagship store located in Myeong-dong, Seoul, increased by 45 percent compared to a year prior. The amount spent by Chinese vis
Industry Aug. 26, 2019
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BOK likely to freeze base interest rate amid Japan factor, uncertainties
With growing economic uncertainties and ongoing trade tensions with Japan, the South Korean central bank is highly likely to freeze the base interest rate at an upcoming meeting of its Monetary Policy Board, market analysts said Sunday. The Bank of Korea is slated to hold its rate-setting Monetary Policy Board meeting Friday. On July 18 the central bank cut the country’s policy rate to 1.5 percent, citing mounting external uncertainties. It has also lowered its growth outlook for
Market Aug. 25, 2019
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Kia’s Soul EV picked ‘most competitive compact EV’ by Auto Zeitung
Kia Motors said Sunday its subcompact crossover Soul EV has been picked as the most competitive compact-size electric vehicle by German automotive magazine Auto Zeitung, beating rivals including BMW’s i3s and Nissan’s Leaf e+. Soul EV received the highest marks in most evaluation categories including body, driving comfort, powertrain and environment/cost, except in driving dynamics, winning 2,989 out of 5,000 points. BMW’s i3s and Nissan’s Leaf e+ received 2,894 poi
Mobility Aug. 25, 2019
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Teaser image for Hyundai Motor’s EV concept car 45 revealed
Hyundai Motor Group released a teaser image for its electric vehicle concept car 45 on Thursday, ahead of the 2019 Frankfurt Motor Show next month.According to Hyundai Motor, 45 is a reinterpretation of the carmaker’s first concept car design revealed in 1970. It has been renewed under Hyundai Motor’s next-generation design philosophy -- “sensuous sportiness.” The latest concept car has customized customer experience under the new brand strategy “Style Set Fre
Mobility Aug. 22, 2019
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Lack of information deters smokers from switching to alternatives: PMI study
A lack of information and confusion deter smokers from switching to alternative options such as heat-not-burn tobacco, according to industry data compiled by Philip Morris International released Wednesday.According to a survey conducted by research firm Povaddo on behalf of PMI, about 55 percent of adult smokers surveyed said they have the information they need about smoke-free products, while 4 in 5 respondents said they agree that a change in their smoking habits was needed.The survey was cond
Industry Aug. 21, 2019
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Ikea Korea to open two more stores by first half of 2020
Home furnishing retailer Ikea Korea said Wednesday it will open two more stores in Korea by the end of the first half of 2020 and expand customer touchpoints within the capital. According to the Swedish furniture giant, Korea’s third Ikea store will open in Giheung, Gyeonggi Province, on Dec. 12. The first Ikea store to sit outside the Seoul and Gyeonggi Province metropolitan area, Ikea Dongbusan, will open in the first quarter of 2020. “Thanks to the great support and int
Industry Aug. 21, 2019
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Jeju Air aims for customer-oriented business growth
Jeju Air, the country’s top low-cost carrier in terms of sales, said Wednesday that it will continue to focus on a customer-oriented business strategy for its future growth, having introduced a new seat arrangement last month as part of those efforts.Called New Class and revealed in time for the July 4 launch of the Busan-Singapore route, the new premium service is designed for passengers who want more space between seats, the airline explained. To offer this “premium economy c
Industry Aug. 21, 2019
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Hyundai Motor unveils new truck Pavise
Hyundai Motor Group unveiled Wednesday a rendering of its new truck Pavise, which will go on sale next month. There had been rumors that Pavise would be a new crossover after the company trademarked the name in April. According to Korea’s largest automaker, Pavise stands for practical, adaptable, volume, information, safety and economical.Hyundai Motor said the new truck’s grille design has a powerful structure with dynamic strokes. The front grille was designed to be solid and
Industry Aug. 21, 2019
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Korean Air expands SE Asian, Chinese routes to make up for reduced Japan flights
Korean Air is expanding its Southeast Asian, Chinese and Oceania routes, in response to falling demand for air travel to Japan amid the ongoing trade row between South Korea and Japan.According to Korean Air, it is reorganizing and expanding some of its international routes to make up for lower demand for flights to Japanese cities. The full-service air carrier will add seven weekly Incheon-Clark flights from Oct. 27. It will also expand the current 14 weekly flights on the Incheon-Da
Industry Aug. 20, 2019
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Beleaguered air carriers halt cargo services, suffer slump in stock prices
Hit with the triple whammy of global trade conflicts, diminished profitability and management risks, South Korea’s two full-service air carriers have decided to severely cut back on cargo services to carry through their quarterly operating loss, which exceeds 100 billion each.Korean Air and Asiana Airlines both said Monday that they were suspending domestic cargo delivery service as of October, in an effort to improve their financial situation after reporting poor second-quarter earnings a
Industry Aug. 19, 2019
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Korean Air shares hit record low after poor Q2 earnings
Stocks of the country’s largest full-service carrier, Korean Air, hit another record low on Friday after the company reported poor second-quarter earnings amid a deteriorating business environment and hefty foreign exchange losses.On Friday, shares of Korean Air fell 0.2 percent to close at 22,850 won ($18.87) per share, recording a new 52-week low, while the benchmark Kospi remained relatively steady. According to Korean Air, the airline recorded 3.2 trillion won in sales from April to Ju
Industry Aug. 16, 2019
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Asiana Airlines expands Incheon-New York routes
South Korean full-service carrier Asiana Airlines said Friday that it would expand its Incheon-New York route to twice a day starting Nov. 24.The air carrier currently flies Incheon-New York route only once in the morning. The newly added flight will depart from Incheon at 9:50 p.m. and the company plans to assign the new A350 flight, which can sit 311 passengers for user convenience during the long-haul flight.The company said that this new route would benefit those who want to depart to New Yo
Industry Aug. 16, 2019
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[Photo News] New favorite Korean instant noodles?
Samyang Foods and Homeplus said Wednesday that an accumulated 1.3 million packs of Samyang Kookmin Ramyun have been sold since its launch June 13. Samyang said the product was developed jointly with Homeplus to provide instant noodles at a reasonable price. Samyang Kookmin Ramyun is sold only at Homeplus stores and costs 2,000 won ($1.65) for a bundle of five packs. The word “Kookmin,” meaning people in Korean, is often used in describing a brand or product to suggest popul
Industry Aug. 14, 2019
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Incheon Airport marks accumulated 700m passengers
Incheon International Airport Corp. said Wednesday that the airport’s accumulated number of passengers has surpassed 700 million. To mark the milestone, the operator of South Korea’s main gateway held various events, including giving a round-trip ticket and a Turtle Ship made of pure gold to the 700 millionth passenger who arrived at Incheon Airport. IIAC said the achievement of marking an accumulated 700 million passengers since its opening in March 2001 is meaningful, as
Industry Aug. 14, 2019
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