When Kolon Group chairman Lee Woong-yeol announced on Nov. 28 that he would step down from all his posts within the group on Jan. 1 next year, he put his son and heir apparent Lee Kyu-ho to a severe test.The junior Lee, 35, was appointed as chief operating officer of Kolon Industries FnC at the grou
LG Chem will supply 12V low voltage system (LVS) batteries to German automaker BMW. It is not a contract for supplying batteries for electric vehicles, but it is notable that the company has entered the exclusive BMW supply chain. LG Chem is now in a supply relationship with many of global automaker
lululab, a member company of the K-ICT Born2Global Centre, was selected as one of the "Winners of Cosmoprof Awards Asia" at COSMOPROF ASIA 2018, which was held in Hong Kong from Nov. 14-16.The world's largest annual beauty fair, Cosmoprof has been held in Bologna (Italy), Las Vegas (United State
SsangYong Motor Co. has launched its first direct overseas sales company in Australia, announcing a new start to expand global sales, the company announced on Dec. 5.SsangYong Motor held a brand launching ceremony on Nov. 29 and 30 (local time) at the Crown Metropol Hotel in Melbourne, Australia, at
The sports sedan G70 of Hyundai Motor’s Genesis brand has been selected as ‘the 2019 North American Car of the Year' by Motor Trend, the most prestigious car magazine in the U.S. The G70 is the first Korean car to be selected as the car of the year by the magazine, which was launched in 1949. Mo
Samsung Electronics’ QLED TV and LG Electronics’ CineBeam Laser 4K Projector have been included among the "Best Inventions 2018" chosen by Time magazine.Each year, Time selects 50 smart inventions in 10 categories: accessibility, architecture and design, fashion & beauty, food & drink, gear & gadget
Renault Samsung will stop production of the Nissan Rogue at its Busan plant in September 2019 with the expiration of its contract with Nissan, industry analysts said on Nov. 30.Renault Samsung has been producing the Rogue, a popular sports utility vehicle, for Nissan since August 2014. It is the mod
Hyundai Motor unveiled the Palisade, a new large flagship sports utility vehicle (SUV), for the first time at the 2018 L.A. Auto Show at the Los Angeles Convention Center on Nov. 28 (local time).Participants at the motor show became very excited with the unexpected screening of the BTS, a global hon
SsangYong Motor is set to launch its flagship models, including the Rexton Sports, in the Australian market.To penetrate the Australian market, the carmaker will set up a subsidiary in Australia, its first overseas sales corporation, in December, the company said on Nov. 28.SsangYong plans to expand
Hyundai Motor Co. has won this year’s World Touring Car Cup (WTCR) and took the second place in World Rally Championship (WRC) 2018.The WTCR was launched late last year through the merger of the TCR International Series and the World Touring Car Championship (WTCC). The WRC is one of the two most po
On Nov. 15, the curtain was raised to signal the start of the G-Star 2018 at the BEXCO in Woo-dong of Busan. The game jubilee, which will run until Nov. 18, is participated by more than 700 game companies from 36 countries. This year's edition of the annual event is largest ever with 2,966 booth
Korean automakers’ domestic sales increased in October, brightening their prospect of attaining annual sales goals.The aggregate domestic sales of the five Korean automakers, including Hyundai Motor, Kia Motors, GM Korea, Ssangyong and Renault Samsung, totaled 139,957 units in October, up 23.60% fro
SsangYong Motor Co., part of the Mahindra Group, announced on Nov. 1 that it sold a total of 13,424 vehicles in October 2018 – 10,082 units in domestic sales and 3,342 in exports including CKD kits.SsangYong achieved the best monthly sales this year in October with an increase of 24.9 percenter over
Kakao Corp. announced on Oct. 22 that it has forged an alliance with nine early partners who will provide commercial services on its blockchain platform called “Clayton.”In the game field, it is planning to work with WeMade Entertainment Co.’s subsidiary called WeMadeTree to create blockchain-based
SsangYong Motor Co. said on Oct. 19 that it placed first in a recent British car brand satisfaction survey.SsangYong ranked No. 1 in the Honest John Satisfaction Index 2018 with a score of 90.3. Honest John is a British online auto website. SsangYong is the only brand that exceeded 90 points in the
The two Koreas agreed on Oct. 15 to kick off a joint project to modernize and link their railways and roads across their borders in late November or early December.The agreement was reached during high-level talks between South Korean Unification Minister Cho Myung-kyun and his North Korean counterp
Samsung Electronics announced on October 14 that the company exhibited a 109-inch ultra-large light-emitting diode (LED) signage product at the “Porsche Experience” event in Malaysia. The “LED for HOME” is a premium home cinema product unveiled at the CEDIA 2018, a video equipment exhibition held in
The eighth League of Legends World Championship has kicked off in Korea. The total prize money for this year is estimated at five billion won at the least. Last year’s final match in Beijing attracted an audience of more than 40,000, with more than 57 million fans watching it at home worldwide.This
The heads of Google Korea, Facebook Korea and Apple Korea have been selected as witnesses for the upcoming parliamentary inspection of the administration. Google Tax introduction, potential personal information infringement by Facebook, and the like are expected to be debated.The Science, ICT, Broad
Hyosung Group chairman Cho Hyun-jun is stepping up his efforts to expand the group’s presence in the Chinese clothing market, which is the world’s largest market.According to Hyosung on October 1, Cho attended the Intertextile Shanghai 2018, the world's largest apparel fabrics and accessories fa