Han Sung Motor, an official dealer of Mercedes-Benz Korea, said Wednesday that it has completed work on a mural near its Seongnam exhibition hall. The automotive dealer said it had painted an old wall measuring about 50 meters wide and created the mural to improve the regional environment. The mural was painted under the voluntary initiative of Han Sung Motor’s Seongnam unit to re-create the al...

Hyundai Motor and Kia Motors will work together with SK Innovation to develop an electric vehicle battery ecosystem, the automaker said Tuesday. Hyundai said the companies will build a cooperation system involving various business areas related to the rental of electric vehicle batteries, battery management services, and the reuse and recycling of EV batteries. Both sides agreed that it is nece...

Mercedes-Benz Korea said Tuesday that its fourth Ausbildung, a German vocational training program, began early this month. The online kickoff ceremony held Monday was attended by around 70 people, including Kim Jee-seop, interim president and CEO of Mercedes-Benz Korea, Susanne Wohrle, vice president of the Korean-German Chamber of Commerce and Industry, 18 newly selected trainees and 16 profess...

South Korea’s top 100 companies by revenue saw overseas sales drop 19.8 percent in the second quarter year-on-year due to the global economic downturn caused by the pandemic, data showed Monday. According to the Federation of Korean Industries, which analyzed the disclosure data of the nation’s 100 largest companies, their overseas sales declined 19.8 percent to 146.3 trillion won ($123 billion)...

Models introduce Rolls-Royce’s luxury sedan the new Ghost at the automaker’s Seoul boutique, Monday. The new Ghost adapts a version of the 6.75-liter twin-turbo V12 engine with a maximum power of 571 horsepower and a maximum torque of 86.7 kilogram-meters. The new vehicle can be ordered from Monday and will be delivered to customers sequentially from December this year. (Yonhap)

Coupang began procedures for the construction of a large-scale high-tech logistics base in Gwangju in partnership with the regional government, the firm said Friday. Gwangju Mayor Lee Yong-seop and Coupang’s new business division head Park Dae-joon met Friday and signed a business agreement. Under the deal, the firm and Gwangju agreed to establish a mega-sized high-tech logistics center in the r...

Mercedes-Benz Korea said Friday it appointed Thomas Klein, the current president and CEO of Mercedes-Benz Middle East, as the new president and CEO of Mercedes-Benz Korea, effective Jan. 1, 2021. Klein began his career with Daimler AG at the University of Cooperative Education program of the Mercedes-Benz plant in Germany in 1999. In 2014, Klein was appointed managing director of Mercedes-Benz p...

Hyundai Motor participated in the IFA 2020 exhibition in Berlin, Germany, for the first time, demonstrating its brand vision based on eco-friendly vehicle technology, the firm said Friday. The automaker, which is pushing to shift from a traditional car manufacturer to a smart mobility company, aims to strengthen its leadership in eco-friendly mobility technology in the European market. In Europe...

Kakao Games set new records this week in South Korea’s initial public offering market, with the highest competition rate and the largest subscription deposits. The competition rate for Kakao Games’ IPO subscription surpassed 1,500:1, hitting record highs in Korea’s IPO market. The estimated subscription deposits were 58.5 trillion won ($49.3 billion) as of Wednesday, surpassing the record of 30....

Asiana Airlines will operate chartered flights to Chongqing, China, starting Friday in cooperation with the Korea International Trade Association to support small and medium-sized enterprises’ export activities, KITA said Thursday. KITA and Asiana Airlines signed an agreement on the day to operate chartered flights once a week through October. The plane will head to Chongqing, a megacity in sout...

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 ...

Woojung Education & Culture Foundation established by Booyoung Group is set to provide scholarships for international students for the second semester of this year, the group said Wednesday. The foundation decided to grant about 380 million won ($320,215) in scholarships to 96 foreign students studying in Korea. They are from 38 countries, including Vietnam, Bangladesh, Uzbekistan, and Cambodia....

Daesung Group Chairman Younghoon David Kim received an honorary doctorate in science and technology from the Korea Advanced Institute of Science and Technology, the firm said Tuesday. Kim received the honorary doctorate at the 2020 online graduation ceremony held at KAIST in Daejeon on Friday in recognition of his contributions to the development of the nation‘s economy through corporate managem...

Samsung Heavy Industries said Tuesday it obtained a detailed design approval from the US ship classification organization American Bureau of Shipping for its natural gas liquefaction cycle technology, the first in the shipbuilding industry. The shipbuilder said, upon the approval, it can save costs for the payment of technology fees and the restrictions on selecting equipment by breaking away fr...

South Korea’s antitrust watchdog said Monday that an increasing number of companies occupy a regulatory blind spot that shields the owner families. Owners increased their shares through indirect investment from public corporations and overseas affiliates this year, it said. The Fair Trade Commission said it analyzed the stock ownership of the 64 largest groups and their 2,292 affiliates. Among ...