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Electronic cooling mat for a driver's seat

Thermoelement Mat

10 August 2016 - 11:30am

CHM Inc. recently announced that an electronic cooling and heating mat dubbed “Lamos”, which uses thermoelement, for the first time in the industry.

Lamos is an electronic mat that can be used as a heating mat in the winters and a cooling mat in the summers. Since the electronic mat is energy efficient, it is cheaper to run than an air conditioner. It is also effective to cool and warm the body as it contacts directly with the skin.

The electronic cooling mat uses the Peltier effect that one side gets cooler while the other gets hotter when allowing electricity to flow into...

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The former executives of the Orion Group presented a petition to the government to oppose the Korea’s liberation day special pardon of Tam Chul-gon, chairman of the company.

Ugly Management

8 August 2016 - 10:45am

The former executives of the Orion Group presented a petition to the government to oppose the Korea’s liberation day special pardon of Tam Chul-kon, chairman of the company. In addition, they are planning to proceed a criminal suit about Tam’s corruptions. Responding to it, Orion group also is to file civil and criminal suits against them.

It has been found on August 5 that three former executives of Orion Group including Shim Yong-sub, the former president of Goyang Orion Orions (Orion pro basketball team) have presented a petition to the Blue House (Presidential Office) and the...

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Chung Eui-sun, vice chairman of the group, encourages the Korean National Archery Team during the Incheon Asian Games in 2014.

Official Sponsor for Football

5 August 2016 - 7:00pm

Hyundai Motor held “the Ceremony to Sign Sponsorship for the Korea Football Association and the Korean National Football” with the participation of about 100 people including Cho Won-hong, head of the Marketing Division of Hyundai Motor, Kim Ho-gon, vice chairman of the Korea Football Association, UrlichStielike, head coach of the Korean National Football Team and Ki Sung-yong, captain of the team at Suwon World Cup Stadium in Suwon, Gyeonggi Province on July 11.

Hyundai Motor which began to sponsor the Korean National Football Team in 1999 will carry out activities as an official...

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Samsung Electronics’ models introduce the Galaxy S7 edge Olympic Games Limited Edition during the official launch event of Samsung's global Rio 2016 Olympic Games campaign held at Iguatemni mall in Sao Paulo, Brazil on July 7 (local time).

Official Rio 2016 Olympic Partner

5 August 2016 - 6:45pm

In celebration of the upcoming Rio 2016 Olympic Games, Samsung Electronics Co., the official Worldwide Olympic Partner in the Wireless Communications Equipment category, unveiled the Galaxy S7 edge Olympic Games Limited Edition in Sao Paulo, Brazil, on July 7 (local time).

The Rio 2016-inspired device incorporates an Olympic Games design embedded into the body, including the five official colors of the Olympic Rings. It flaunts black cover with gold-hued home button and speakers, blue on camera modules and the Olympic Rings on the back, and red on the power button on the side and...

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Olympic Marketing

5 August 2016 - 6:30pm

The Rio Olympics kick off on August 6. More than 10,000 athletes are expected to participate in the event from 206 countries around the world and their competition in a total of 306 events is to be aired worldwide via broadcasting stations, which means the host country Brazil and official sponsor companies can show their positive images to the entire world. In general, enterprises that utilize Olympic marketing have enjoyed huge PR effects by showing their products and images to the entire world.

Still, the atmosphere is pretty quiet this year when it comes to Olympic marketing even...

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Shrinking Imported Car market

4 August 2016 - 1:30pm

The imported car market in South Korea is getting rapidly frozen partly because the Korean government has made stunt measures against illegal behaviors of foreign car importers and distributors, in particular, targeting Volkswagen mired in the fake emissions scandal.

The Korea Automobile Importers and Distributors Association (KAIDA) on August 4 announced that 15,730 imported cars were newly registered in South Korean market in July, down 24 percent from the same month last year. The drop was sharper than that of local carmakers of 5.2 percent in the same month. The sales in July...

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Moon Jong-hoon, CEO of SK Networks.

Getting More Profits

1 August 2016 - 10:15am

SK Networks said in a regulatory filing on July 29 that its preliminary second quarter sales stood at 4.6575 trillion won (about US$4.15 billion) while the operating profit and net income recorded 35.2 billion (US$31.3 million) and 16.2 billion won (US$14.4 million), respectively. Although its sales fell 9.7 percent from the same period of last year, the operating profit was maintained at the level of the previous year (a fall of 2.4 percent) and the net income went up 97.2 percent.

The company attributed the drop in sales to falling oil and raw material prices resulting from global...

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Dam Chul-kon, the chairman of Orion Group, the confectionery company famous for Choco Pie, has reportedly been civilly sued for 20 billion won (US$18 million).

Warped Mamnagement

29 July 2016 - 10:30am

Tam Chul-kon, the chairman of Orion Group, the confectionery company famous for Choco Pie, and his wife have reportedly been civilly sued for 20 billion won (US$18 million) by the former CEO of the company. 

The Seoul Western District Court said on July 27 that Jo Gyeong-min, the former president of the company, filed a lawsuit on July 22 against Chairman Tam and his wife for not paying 20 billion won they had promised to offer 20 years ago. Jo, who had joined the company as an ordinary employee and moved up to the position of president, said that he withdrew his decision to leave...

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Daelim Industrial Co. and Iran’s Isfahan Oil Refinery will work together to improve production and optimize the facilities of the Iranian oil refinery.

Facility Project in Iran

29 July 2016 - 9:45am

The Iranian oil ministry announced on July 19 (local time) through its news agency that Korea-based Daelim Industrial Co. and Iran’s Isfahan Oil Refinery had signed an MOU to improve production and optimize the facilities of the Iranian oil refinery.

According to Iranian local news outlets, the managing director of Lotfali Chavoshi at Isfahan Oil Refinery told reporters on July 18, the previous day, that the implementation of the deal would bring the facility to its golden days and be made in the way of Engineering, Procurement and Construction (EPC) with Daelim responsible for...

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CJ CGV will increase its stake in the Indonesian operator of the CGV Blitz movie theater chain.

Share Acquisition

28 July 2016 - 2:45pm

CJ CGV, South Korea's largest movie theater chain, will increase its stake in Indonesia's Graha Layar Prima (GLP), the operator of the CGV Blitz movie theater chain in the Southeast Asia's largest economy.

CJ CGV has set aside 28.8 billion won (US$25 million) to buy 50.6 million stocks of GLP by Aug. 1, the company said in a recent statement.  

CJ CGV will hold 42.77 percent of GLP shares when it completes buying the stocks next month. The Korean company made a guarantee of loan (34.2 billion won) for PT Layar Persada, the largest stockholder of GLP in Indonesia.

Such...

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