SsangYong Motor Company, part of India's Mahindra Group, announced on Oct. 1 that it sold a total of 10,799 units in September 2018 – 7,689 units in domestic sales and 3,110 in exports including CKD kits.SsangYong’s sales in September 2018 fell 18 percent over September 2017. The company witness
Hankook Tire has placed a 1 trillion won (US$900 million) bet on the supply of Formula 1 (F1) tires. The Korean tire giant had to give up supplying tires to F1 events in 2014 due to a shortage of product development time. Now the company will make another attempt to supply its tires to F1 events in
Korean carmakers and import car companies are placing a big bet on the variation of sports utility vehicle (SUV) product groups.According to the automobile industry on September 13, as the Korean SUV market has expanded rapidly, Korean and foreign automakers are reinforcing their lineups in the loca
Hankook Tire CEO Cho Hyun-bum is competing with Italy’s Pirelli Tire, the world's fifth largest tire manufacturer based on revenue, to secure an exclusive tire supply right for Formula One (F1).F1 is the highest class of open-wheeled auto racing boasting the highest speed levels among formula ra
Due to Ji-Man Choi's very first walk-off home run (HR), the Korea Ginseng Corp.’s red ginseng is currently shaking the SNS.Choi came out as the third designated hitter in the 2018 Season Major League game with Cleveland Indians at Tropicana Field in St. Petersburg, Florida on September 11, and h
The Hyundai Motor Group showed a sales growth of 9.2% last month, with domestic sales growing 7.4% and exports 9.5%. The company's performance was outstanding compared with other domestic automakers. SsangYong Motor and Renault Samsung Motors posted an increase in domestic sales but their export
Some of Volvo's new flagship models have begun to be produced in China. But many Korean consumers still do not trust cars made in China yet. Thus, attention is being paid to whether or not Volvo Korea will maintain its growth in Korea, shaking off concern in the market.According to Volvo Korea o
Hyundai-Kia Automotive Group and Kakao Corp. announced on August 30 that they have started a joint development project aimed at installing Kakao Mini smart speaker functions on Hyundai-Kia vehicles from next year.The two companies have decided to jointly develop a technology that will optimize smart
Samsung Electronics and LG Electronics, Korea’s two leading electronics companies, jointly accounted for half of the global TV market in the first half of the year, according to a report released by market researcher IHS Markit.The two electronics giants could outperform their Japanese and Chinese c
The Kona Electric, a small electric sports utility vehicle (SUV) of Hyundai Motor, set a new record in the United States in terms of maximum driving range.The Environmental Protection Agency (EPA) of the United States recently announced that Kona Electric can travel a distance of 258 miles after ful
Pearl Abyss, a game company that hit the jackpot with the smartphone game, “Black Desert Mobile,” launched an investment company called Pearl Abyss Capital in June this year. Kim Kyung-yeop, who has been in charge of investment assessment at venture capital companies including Stone Bridge Capital a
The world’s first “AI World Cup,” where players use AI technology to utilize their soccer skills and compete with each other, will be held Aug. 20-22 in South Korea.On August 15, KAIST announced that it is holding the “2018 International AI World Cup Match” for three days from August 20 at the KAIST
Chinese games are rapidly eroding the Korean market. It is happening while China blocked the distribution of new Korean games in China over the deployment of the Terminal High Altitude Area Defense (THAAD) missile system. The Korean game industry is suffering from unfair competition.According to the
The South Korean government has decided to greatly increase its investment in social overhead capital (SOC) related to people's everyday life, including urban regeneration, housing and sports facilities, in order to create jobs and stimulate the regional economy.The move draws attention as the c
SsangYong Motor Company, part of the Mahindra Group, announced on August 1 that it sold a total of 12,916 units in July 2018 – 9,823 units in domestic sales and 3,093 in exports.SsangYong’s sales for July rose 13.2% compared to sales in July 2017. This upward trend reflects a recovery in domestic sa
The Hyundai Motor Group denied rumors that it might acquire FCA, complaining that some in the financial industry are spreading groundless rumors.The rumors have been spread by multiple news outlets since late last month. For example, U.S.-based M&A information provider Capitol Intelligence Group sai
“Robot World 2018,” which will showcase domestic and overseas advanced robot technologies, will be held at Kintex, Ilsan, a northern suburb of Seoul, from October 10 to 13.The Korea Association of Robot Industry (KAR), which manages the large-scale annual exhibition, announced on July 10 that the ap
Inter-Korean economic cooperation is shifting into high gear. South and North Korea have agreed to hold subcommittees on railway, road, and forest from June 26 to July 4 in order to implement the Panmunjom Declaration.The Ministry of Unification said on June 25 that the North and the South agreed on
Competition among hybrid sedans is getting fiercer as eco-friendly vehicles are gaining popularity due to high oil prices.In January of this year, the Korean government’s subsidy for a hybrid car was reduced from one million won (US$900) to 500,000 won (US$450). However, as oil prices hiked, demand
From next year at the earliest, passengers using Incheon International Airport will be able to depart without their passport and boarding pass with them as the airport devices can recognize their faces when they go through the departure procedure. In addition, they will be able to use a delivery ser