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
GM's withdrawal from the Korean market is being regarded as a nearly accepted fact as domestic automakers are facing the greatest crisis ever due to sluggish domestic consumption and exports, labor disputes, and controversy over ordinary wages.GM Korea, however, refuted the idea, claiming that to th
North Gyeongsang Province announced on August 10 that it has agreed with the British government to share technologies and know-how in the autonomous driving sector ranging from the development of self-driving vehicles and high-precision maps to safety management.The IT Convergence Institute of North
Hyundai Motor and Kia Motors are suffering from sluggish sales even in the US market. Sales of both companies fell 18% year on year last month. This is because fleet sales (sales to corporate customers such as rent-a-car and taxi companies) were sluggish, and due to lack of sports utility vehicle (S
According to the 2016 Banks’ CSR Activities Report released by the Korea Federation of Banks (KFB) on July 24, NH Nonghyup Bank has spent 92.3 billion won (US$82.78 million) on corporate social responsibility (CSR) activities last year, the highest figure in the banking industry.Despite difficult ma
Hyundai Motor began to escape from sluggish sales in the Chinese market due to the negative aftermaths of the deployment of the terminal high altitude area defense (THAAD) system on the Korean peninsula while operating its Chongqing factory, which is a base to tap into the midwestern area of China a
Busan City is transforming itself, led by Mayor Suh Byung-soo as its sixth mayor elected by popular vote. At the center of the transformation are Gijang County located in the eastern part of the city and Buk-gu, Saha-gu, Gangseo-gu and Sasang-gu in its western area.The county, which is home Kori Uni
A private organization is established in order to successfully host the Geumsan World Ginseng Expo 2017 to be held in Geumsan County, South Chungcheong Province, in September.The Pan-provincial Support Council for Geumsan World Ginseng Expo held the opening ceremony at the Darakwon Sports Center in
For the PyeongChang Olympic and Paralympic Winter Games (POCOG) to be a Peace Game, the Peace Education Festival is being held from May 27 to 31 under a joint organization by POCOG and the Gangwon Provincial Office of Education.Under the theme “I Love Peace, I am a Peace Maker, ” the objective of th
The start of 2018 Pyeongchang Winter Olympics are less than 10 months away. BusinessKorea met Lee Hee-beom, president & CEO of the PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games, to hear about the preparation and vision of the winter games. Lee told BusinessKorea t
Korea’s second-largest automaker Kia Motors will invest one trillion won (US$900 billion) to build its first plant in India with a capacity of annual 300,000 car production. The plant also would be the 5th overseas production base for Kia.According to the Indian media and local industry sources on A
South Korea’s second largest automaker Kia Motors Corp. is planning to release various high-performance models, which allow drivers to enjoy driving, one by one. Hyundai Motor Group appointed BMW M division's Albert Biermann to lead the development of new high performance Hyundai and Kia models at t
THE CJ CUP @ NINE BRIDGES, the first regular season tournament of the US PGA golf tour in Korea will be held at Nine Bridges Golf Course on Jeju Island.The CJ Group announced the location and logo of the contest in the official agreement ceremony for the successful hosting of PGA Tour and the tourna
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are expanding their presence in the hybrid vehicle market in the United States, backed by brisk sales of the Niro sports utility vehicle (SUV) hybrid.According to U.S. online market tracker HybridCars.com, the South Korean automobile compa
Aimhigh Global Co. announced that it has become the largest shareholder of the sports betting company Spolive, securing the management rights.Spolive operates a social sports betting platform that allows users to bet on sports results via social media networks such as Facebook and Kakao Talk. The co
As letter and picture-based information services are now changing to video-centered services, the power of contents is growing in the global information and communications technology (ICT) industry. Contents, which were once considered a free offer to increase the number of subscribers, have now bec