An embedded SIM service launched by local mobile carrier LG Uplus since last year for foreign visitors to South Korea saw a 44 percent increase in the number of customers this year, the company said Thursday. The service became available since May to offer convenience to short-term foreign visitors to South Korea. More foreign visitors have been purchasing the service this year, the company said...

The Korea Enterprises Federation said that its chairman, Sohn Kyung-shik, met with the president of the Heritage Foundation in Washington on Wednesday, stressing the need for a similar nongovernmental think tank in Korea as well. Founded in 1973, the Heritage Foundation is a nonprofit conservative think tank with a mission to formulate and promote public policies based on the principles of free ...

South Korean shipyard HJ Shipbuilding & Construction Co. said Thursday it has succeeded in developing a dual-fueled liquefied natural gas (LNG) container carrier that meets international environmental requirements. HJ Shipbuilding said it has recently received approval from Lloyd's Register for its design on a 7,700 twenty-foot equivalent unit (TEU) container ship with a LNG-powered dual-fuel en...

Financial affiliates of South Korean conglomerate Samsung Group on Thursday launched an integrated financial service app that offers various financial plans spanning insurance to financial investment. The new Samsung app, Monimo, offers services from four Samsung financial affiliates, such as Samsung Life Insurance Co., Samsung Fire & Marine Insurance, and Samsung Card Co. The app enables Samsu...

South Korea's top airline Korean Air Lines Co. is poised to issue bonds worth up to 300 billion won ($245 million) in April in an effort to secure working funds, industry sources said Thursday. The amount of Korean Air's planned debt sale, which is currently estimated to range from 200 billion won to 300 billion won, could rise depending on market demand, according to the sources. The national ...

Hyundai Motor Co.'s IONIQ 5 has been named World Car of the Year at the 2022 World Car Awards, beating models from sister brand Kia Corp. and Ford Motor Co. to claim the overall crown. The all-electric crossover beat Kia's EV6 pure electric sedan and Ford's Mustang Mach-E SUV. It was also named World Electric Car of the Year and World Car Design of the Year, the company said in a statement. In ...

South Korea's antitrust regulator said Thursday it has started to review the proposed deal by US software giant Microsoft Corp. to buy leading US game developer Activision Blizzard. The Fair Trade Commission (FTC) said it plans to see if the merger of the two US firms could hurt competition in the online game market. In January, Microsoft announced a plan to acquire Activision Blizzard for $68....

Hyundai Motor Co. and its affiliate Kia Corp. -- South Korea's two biggest carmakers -- said Thursday they have unveiled their face-lifted SUV models amid robust demand for SUVs at the New York International Auto Show this week. Hyundai revealed the upgraded Palisade SUV at the show ahead of its domestic launch in May, while Kia introduced the face-lifted Telluride SUV ahead of its US launch lat...

Ford Sales & Services Korea Inc., Hyundai Motor Co. and four other carmakers will voluntarily recall 54,390 vehicles combined over parts defects, Seoul's transport ministry said Thursday. Ford will recall 19,733 Explorer SUVs over faulty rear toe links at the back wheels, which could cause safety problems while driving, according to the Ministry of Land, Infrastructure and Transport. Hyundai wi...

Cho Seung-hwan, a former senior official at the Ministry of Oceans and Fisheries who spent more than 20 years in maritime services, was tapped to head the ministry under the incoming Yoon Suk-yeol government. “Cho is a maritime expert with an unmatched depth of experience spearheading many projects under previous governments. I expect him to find new opportunities for the maritime industry and m...

President-elect Yoon Suk-yeol on Wednesday named a startup founder-turned-lawmaker to lead the Ministry of Small Medium-sized Enterprises and Startups, in his second round of Cabinet nominations since Sunday. Rep. Lee Young founded local internet and mobile security provider Teruten in 2000, and won a proportional representation seat without a constituency in the 2020 parliamentary election. She...

Operator of Korea’s top search engine eyes M&As in metaverse, virtual reality

South Korean steelmaker Posco was named Sustainability Champion of the year by the World Steel Association in recognition of its sustainable management, the company said Wednesday. Worldsteel is an international non-profit organization representing the global steel industry with memberships of 140 companies around the world. The organization named 10 companies for their sustainable efforts. Pos...

SAO PAULO -- Global tech powerhouse Samsung Electronics Co. said Tuesday it has opened an outlet in Argentina's southernmost city of Ushuaia. The store, which opened Friday, carries Samsung's Galaxy S22 smartphone, the Galaxy Watch 4, accessories and other products, according to Samsung's Latin America Headquarters. Ushuaia, which claims the title of the world's southernmost city and has a popu...

The number of registered vehicles in South Korea had surpassed 25 million as of end-March, which means one out of every two South Koreans owns a vehicle, data showed Wednesday. Car registrations had come to 25.07 million units in the country of 52 million people as of end-March, up 2.12 percent from a year earlier, according to the data from the Ministry of Land, Infrastructure and Transport. T...