Samsung Electronics ushered in the New Year with the absence of Vice Chairman Lee Jae-yong. As Vice Chairman Kwon Oh-hyun, who had led Samsung, and President Yoon Boo-keun and Shin Jong-kyun stepped down from management, the younger management, such as President Kim Ki-nam, Kim Hyun-suk and Koh Dong
Ganghwa County has announced its plan to attract tourists in 2018 to brace for the tourist city of this year. Its target figure for tourists in 2018 stands at 5 million, up 42 percent from that of 2016. The county has carried out extensive activities to promote the “tourist city of this year” in 201
The sales of South Korea’s content industry reached 110.4 trillion won (US$101.75 billion) this year. This is the similar level of memory chips, a major export item of the country. According to the 2017 edition of the McClean Report, the combined sales estimates of the semiconductor division of Sams
Mirae Asset will create 1.8 trillion won (US$1.65 billion) of funds and invest in the project to develop a mega fourth Industrial platform-based complex in Pangyo, south of Seoul. Mirae Asset Global Investments announced on December 11 that it will create real estate funds and enter into a real est
Samsung SDI on December 5 that it signed a contract with Tesla to supply cylindrical batteries in its energy storage project in South Australia. The size of the contract is estimated at US$33 million.South Australia, which relies much on alternative energy sources, launched an energy storage project
The Visit Korea Committee will hold the 'Korea Grand Sale', which is a shopping, culture and tourism festival for foreigners, from January 18 to February 28 of next year.The Korea Grand Sale will focus on linking with the PyeongChang Winter Olympic Games, publicizing Korea's representative culture a
Hyundai Motor and its smaller affiliate Kia Motors will regain the leadership in the fuel cell electric vehicle (FCEV) market from Toyota. Hyundai Motor is planning to mass produce hydrogen powered cars in the first half of next year, while Kia Motors also has a plan to mass produce FECVs based on t
A mounting crisis is facing GM Korea suffering from severely sluggish sales. A possibility of a decline in exports to Europe and sluggish new car sales among others are once again fueling a rumor about GM Korea's withdrawal from the Korean market which once subsided since new president Kaher Kazem,
Hyundai Motor will expand its Alabama plant by investing about 300 billion won (US$270 million) in the second half of next year. The investment aims to overcome its sluggish US sales by producing sports utility vehicles (SUVs) which are in increasing demand. According to the automobile industry on N
The Lamborghini family, which founded the Italian sports car brand Lamborghini, will start its electric car business based in Korea.GPCC Korea, a Korean electric vehicle development company, took the wrap off the electric scooter Iso Moto Ferruccio Lamborghini Edition which was developed together wi
Kumho Tire announced on October 18 that its Crugen HP71 tire for urban sports utility vehicles (SUVs) launched in March of this year took home a prize in the product design category at the Japan Good Design Awards in Japan.This year, the Good Design Award marks the 61st anniversary as Japan's most p
Hyundai Construction Equipment Co. announced that it recently held a ceremony for completing its new office building for European business in Tessenderlo, a city located in northeastern Belgium, with 300 officials in attendance, such as Hyundai Construction Equipment President Kong Ki-young, Kim Hyo
The United Arab Emirates (UAE) emerging as a mecca of “K Medical” hosted an event to promote the Korean medical industry and its competitiveness.The 2017 UAE Dubai Korean Medical Wellness Tourism Expo hosted by the Korean Ministry of Culture, Sports and Tourism and the Korea Tourism Organization was
A mobile POS system introduced by AmorePacific for the first time in the Korean cosmetics industry nabbed an excellence award in the field of comprehensive digital opportunity creation at the 2017 e-Asia Awards hosted by the UN/CEFACT and AFACT.The eASIA Awards is an e-business award program conduct
The South Korean government has decided to strongly urge the Chinese government to drop its retaliatory measures over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) missile system in South Korea through all the channels including the Council for Trade in Services of World Tra
Airbnb and Yonsei University today signed an MOU for mutual cooperation for research to build a foundation in an era where the sharing economy is becoming more significant. Airbnb is the world’s largest global home sharing platform, and Yonsei University is the oldest and one of the most prestigious
Hyundai Motor and its smaller affiliate Kia Motors are seeing their performance in the United States get worse. The Chinese market is the worst in terms of sales due to the Chinese government’s retaliation over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) system, but the U.
According to content industry source including the Korea Foundation for International Culture Exchange (KOFICE) on September 6, South Korea’s content industry has been supporting the lower part of the national economy that is heavily dependent on exports. Despite the economic slump at home and aboar
The South Korean government has raised its 2018 budget 7.1 percent from that for this year to 429 trillion won (US$381.1 billion). The Moon Jae-in administration's first proposed budget calls for boosting spending on job creation and social welfare by 12.4 percent and 12.9 percent, respectively, wit
LG Electronics is strengthening its cooperation with Google in various business sectors including smartphones and consumer electronics.According to industry sources on August 23, LG agreed with Google to apply a Korean version of the Google assistant to the V30 announced later this month. Google ori