Kim Dong-kwan, Hanwha Group Chairman Kim Seung-youn’s eldest son, was promoted to president of Hanwha Solutions, a year after he was promoted to vice president, the group said Monday. “Kim, who was in charge of the strategy division with the launch of Hanwha Solutions in January this year, led the reorganization of the business and the discovery of future projects to make a leap toward eco-frien...

South Korea’s antitrust watchdog said Monday that it has drafted a bill to regulate dominant online platform operators as unfair trade has become a reality in the sector amid the surge in digital transactions caused by the pandemic. The proposed Act on the Fairness of Online Platform Transactions will be announced for 40 days starting Sept. 28. “As the platforms’ influence and position are stre...

Amid the slowdown in global trade in the wake of the pandemic, many South Korean companies see changes in global value chains as inevitable, a survey showed Sunday. According to a recent survey of 300 Korean manufacturers by the Korea Chamber of Commerce and Industry, 41.7 percent of the respondents said they were “experiencing the GVC changes” and 27.3 percent said they were “expecting changes....

The nation’s largest automaker, Hyundai Motor, said Sunday that it had unveiled new cars and technologies targeting China at the 16th Beijing International Automotive Exhibition, which kicked off a day earlier. The automaker said it showcased a technology brand, called “H Smart+,” exclusively for China. The space consists of three areas: a clean field that focuses on electric cars and hydrogen c...

As daily confirmed coronavirus cases in South Korea returned to three-digit figures ahead of the Chuseok holiday, tensions are mounting at large companies, which recall painful memories of shutting down their factories during the first wave of the pandemic early this year. The nation’s largest automaker Hyundai Motor said it sent letters of cooperation to all of its employees at its Ulsan plant ...

Service exports contributed more to South Korea’s economic growth than exports of goods for the first time since 2015, data showed Wednesday. According to the latest report from the Korea International Trade Association, service exports accounted for 0.5 percent of the nation’s gross domestic product growth in 2019, the highest percentage since 2014. Korea’s GDP growth stood at 2 percent, and ex...

Hyundai Motor revealed Wednesday the exterior design of its 2021 Sonata N Line. The new Sonata N Line expands Hyundai’s midsize sedan lineup following the launch of the Sonata and Sonata Hybrid in 2019. “The 2021 Sonata N Line will attract more customers to both the rock-solid Sonata lineup and our increasingly popular N Line subbrand. Sonata N Line will appeal to customers who desire sporty st...

Doosan Group said Monday the firm sold its iconic building Doosan Tower to real estate investment company Mastern Investment Management for 800 billion won ($689 million). Doosan said the sale is aimed at improving the group’s financial structure. The group sold Doosan Solus and Doosan Tower one after another to normalize the management of its struggling construction firm Doosan Heavy Industrie...

The Korea Herald had an opportunity to test-drive Stinger Meister in downtown and outside of Seoul for about two hours. In appearance, Stinger has hardly changed. In size, not even an inch has increased, and the design also shows no big differences. The biggest feature of this new model is the change in powertrain. The new Stinger Meister has Kia’s first new powertrain Smartstream 2.5-liter tu...

LS Cable & System said Monday it has started mass-producing aluminum wires for electric vehicles. The cable provider expanded its investment in aluminum wires as it believes that aluminum will become a key material for vehicles amid growing competition in EV industries. Aluminium conductor wires are 40 percent lighter than conventional copper wires and can reduce the weight of wires from 25 kil...

The Korea Chamber of Commerce and Industry, which represents South Korean businesses, has called on lawmakers to carefully discuss bills that may greatly affect corporate management. The KCCI said Monday that it had submitted a report to the National Assembly containing its constituents’ opinions on major legislative issues. According to the business association, citing its own survey, 284 bill...

Renault Samsung Motors’ sport utility vehicles have been gaining popularity in South Korea as more consumers choose SUVs for city driving and commuting with the vehicle’s improved fuel efficiency and ride quality. Sales of SUVs in Korea this year were tallied at 315,534 so far, a 25 percent from the same period of last year. In line with the upward trend, RSM’s SUV sales have been on the rise to...

BMW Motorrad, the German motorcycle brand, said Friday that it has officially launched its latest model, the new R 18, in South Korea. The new motorcycle, featuring a classic design and the latest technology, was unveiled at BMW’s Hockenheim Motorrad exhibition hall in Bundang, Seongnam, Gyeonggi Province. BMW said the new R 18 borrows both technologically and visually from famous models such a...

Hyundai Glovis said Thursday it partnered with Thailand’s No. 1 business group, Charoen Pokphand Group, to target the country’s logistics market. Under the partnership, the two companies will start a pilot project by the end of this year by injecting electric trucks into the transportation of convenience store 7-Eleven’s products operated by CP Group across Thailand. This is expected to be the f...

Hyundai Motor said Thursday that it has received 10,842 precontracts on launch day for its new sport utility vehicle, the all-new Tucson, in South Korea. It is the first SUV model to surpass the 10,000 mark on the first day, the automaker said. The New Grandeur, launched last year, sold 17,294 units and the new Avante sold 10,058 units on the day of its release earlier this year. The latest SU...