The Genesis G70 is setting a new record in the Korean premium sports sedan market. The domestic and global sports sedan market has been dominated by the BMW 3 Series, the Mercedes-Benz C-Class and the Audi A4. Yet in Korea and the United States, G7 sales volume has surged, outclassing sports sedans

A red flag has been raised for Korea's auto exports. The five automakers in Korea -- Hyundai Motor, Kia Motors, GM Korea, SsangYong Motor and Renault Samsung Motors -- suffered a setback in auto exports in April.Hyundai, SsangYong and GM Korea recorded a double-digit growth in domestic sales on

Contrary to market expectations, the trading volume of Samsung Electronics shares has decreased following its 50:1 stock split. The company's stock price has not surpassed even once the basis price of 53,000 won (US$45.51).Samsung Electronics’ daily average trading value has come to 525.60 billi

Moody’s Investors Service, one of the largest global credit rating agencies, said on May 2 that Samsung Electronics Co.’s annual sales and operating profit before adjustment will decrease by 10 percent and 50 percent, respectively, this year compared to last year when it posted its best-ever perform

Hyundai Heavy Industries Co. announced on May 2 that it made a turnaround by posting 28.1 billion won (US$24.1 million) in operating profit on a consolidated basis in the first quarter of 2019. Hyundai Heavy Industries recorded 123.8 billion won in operating losses in the first quarter of last year.

Three German automakers, which lead the South Korean imported car industry, were in stark contrast in terms of business performance last year. Mercedes-Benz Korea paid out dividends based on its highest-ever results, while BMW Korea and Audi Volkswagen Korea struggled with heavy operating losses. In

As Hyundai Merchant Marine Co. (HMM) has been struggling with losses for 15 quarters in a row, creditors, including Korea Development Bank (KDB), are paying keen attention to the firm’s Q1 earnings results to be announced in the middle of this month. The ailing shipping company is expected to post a

The Ministry of Trade, Industry and Energy announced on May 1 that South Korea’s exports totaled US$48.86 billion last month, down 2 percent from a year ago, and decreased year on year for the fifth consecutive month. The back-to-back decline is the longest one since the country’ exports fell for 19

Hyundai Motor Group is planning to allow Chinese auto parts suppliers to supply their parts without limitation for use in its cars manufactured in China. At present, they cannot bid when it comes to key auto parts such as power trains.Kia Motors is planning to do so within this year and Hyundai Moto

Avokado Lab aims to disrupt the restaurant industry by using robotics and artificial intelligence. To resolve the difficulty of having a quality meal at an affordable price, Seoul National University and Carnegie Mellon University alumni, including CEO Benjin Kim, HW lead Robert Baek, SW lead Raphae

Samsung Electronics’ smartphone business saw its operating profit increase to the 2 trillion won (US$1.71 billion) range thanks to the popularity of the Galaxy S10 series.Samsung Electronics officially announced on April 30 that its IT & Mobile Communications Division, which is in charge of the smar

Samsung Electronics Co. has yielded the top spot in terms of semiconductor operating profit to Intel due to a sluggish memory chip market.Samsung Electronics announced on April 30 that it posted 52.39 trillion won (US$44.89 billion) in sales and 6.23 trillion won (US$5.34 billion) in operating profi

KT announced on April 30 that its 5G subscribers have exceeded 100,000. KT achieved the milestone in 22 days since 5G service started on April 5.KT is the first among Korea’s three mobile operators to disclose the number of its 5G subscribers. SK Telecom and LG Uplus have not yet disclosed how many

The American Chamber of Commerce (AMCHAM) in Korea said on April 29 that its delegation recently visited Washington, D.C. to ask the U.S. government to refrain from imposing up to 25 percent of tariff on cars from South Korea."I asked the U.S. government not to apply Clause 232 of the Trade Expansio

It is difficult to expect LG Electronics Inc. to resume the operation of its smartphone production line in South Korea. This is because the nation’s “cellphone industry ecosystem” which links large smartphone manufacturers with component producers has actually collapsed.It was a foregone conclusion

LG Electronics Inc. is releasing its first 5G smartphone with two displays “LG V50 ThinQ” on May 10, looking to preempt the 5G handset market as its competitors, including Samsung Electronics Co. and Huawei Technologies Co., are delaying the launch of foldable phones.LG Electronics agreed on the V50

BMW Group provided about 1 trillion won (US$861.33 million) of financial support to BMW Korea last year to help its Korean affiliate overcome the crisis caused by a spate of engine fires of BMW cars in Korea. The financial support reflects the German car company’s determination to normalize the oper

Korea Gas Corp. (KOGAS), a major gas supplier in the country, announced on April 28 that it will invest 4.70 trillion won (US$4.05 billion) in the hydrogen industry until 2030.Under the “Hydrogen Industry Promotion Roadmap,” KOGAS is planning to lower the hydrogen price from the current 7,500 won (U

Samsung Bioepis said on April 25 (local time) that it has received final approval from the U.S. Food and Drug Administration (FDA) to sell its Enbrel biosimilar Eticovo (ingredient name: etanercept).Eticovo is the company’s third biosimilar product approved in the United States, following Renflexis

South Korean steelmakers are in a dilemma as they cannot raise the prices of their products despite rising raw material prices.The price of iron ore powder arriving in China from Australia rose from US$72.2 to US$92 per ton for the first four months of this year. This is because major iron ore suppl