After a planned sale of debt-ridden Asiana Airlines to HDC Hyundai Development collapsed, the carrier is expected to undergo organizational restructuring, including sales of some of its subsidiaries. Also due to the sales failure, Asiana’s largest shareholder Kumho Industrial and HDC Hyundai Development are both expected to file lawsuits, as they blame each other for the deal’s collapse. Creditors, including Korea Development Bank, are considering selling subsidiaries such as Air

Mobility Sept. 13, 2020

Hyundai Motor said Thursday that it will launch a global “Hydrogen to you” campaign starting in Europe to promote sustainable energy hydrogen with its fuel cell vehicle Nexo. The automaker said the campaign will promote its leadership in hydrogen fuel cell technology, sustainable future mobility and the establishment of hydrogen ecosystem via video and social media from this month until next August. The “Hydrogen to you” campaign is aimed at professionals in the aut

Mobility Sept. 10, 2020

As Yoshihide Suga, Japan’s chief Cabinet secretary and front-runner to replace outgoing Prime Minister Shinzo Abe, is seen as likely to carry forward his predecessor’s hard-line stance on South Korea, it is difficult to expect a major change in the strained trade relations between the two countries, experts say. Japan’s ruling Liberal Democratic Party is to hold a leadership election on Monday. Suga is estimated to have secured more than 70 percent of the party’s parlia

Industry Sept. 10, 2020

South Korea’s antitrust watchdog has set out to determine whether Google’s monopoly on mobile operating systems and app markets blocks the emergence of rival OSs and app markets. “Currently, the regulator is focusing its investigation on whether operators who dominate the mobile OS market obstructed the production of devices equipped with rival OS, or by forcing app developers to exclusively launch their apps on its app markets,” Fair Trade Commission Chairperson Joh S

Industry Sept. 9, 2020

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 alley as a street where people want to walk and a “street of youth,” according to

Mobility Sept. 9, 2020

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 necessary to create high added value and strengthen the eco-friendliness of electric vehicle batteries t

Mobility Sept. 8, 2020

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 professional trainers. The fourth Ausbildung, which began Sept. 1, involves 18 senior high school student

Industry Sept. 8, 2020

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) in the April-June period from a year earlier. This is compared with the first quarter

Industry Sept. 7, 2020

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)

Mobility Sept. 7, 2020

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 region and cooperate to boost the local economy and create jobs. The nation’s leading

Industry Sept. 4, 2020

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 passenger cars in South Africa, before he assumed responsibility for sales at Daimler AG in Germany

Mobility Sept. 4, 2020

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, demand for eco-friendly cars such as hydrogen and electric vehicles is rapidly increasing due to s

Mobility Sept. 4, 2020

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 30.8 trillion won recently set by SK Biopharm in June. By Shin Ji-hye (shinjh@her

Industry Sept. 4, 2020

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 southwest China. The first charter flight will depart for Chongqing on Friday with 120 Korean bus

Industry Sept. 3, 2020

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 the gas marine transportation industry and operating hydrogen ships. Under the agreement, the two

Mobility Sept. 3, 2020