Korean Air has reportedly submitted a corrective action plan for its proposed merger with Asiana Airlines to European Union (EU) competition authorities. The corrective action plan includes giving up Asiana Airlines’ cargo slots.On Sept. 25, insiders of the investment banking industry said that Kore
Huawei Connect 2023 kicked off in Shanghai today, bringing together business leaders, tech experts, partners, developers, and industry stakeholders from around the world to explore new opportunities for an intelligent future.At the event, Sabrina Meng, Huawei's Deputy Chairwoman, Rotating Chairwoman
The government has initiated the process of revamping the current vehicle tax, which is currently based on engine displacement, to consider factors such as vehicle price. If the criteria for vehicle taxation changes, it is anticipated that imported cars will face a significant increase in tax burden
Global automakers are fiercely competing to develop platforms that serve as the skeleton for electric vehicles (EVs). Platform technology, alongside securing batteries, is seen as a key competitive edge in leading the era of EVs.According to industry sources on Sept. 19, Volkswagen Group is in the p
A passenger found a shard of glass in a coffee served onboard a Korean Air flight. While drinking the coffee, the passenger discovered the glass piece in their mouth. Fortunately, the passenger was not injured but had to vomit out all of the food consumed on the flight due to safety concerns.Accordi
While the U.S. protects its domestic industries through the Inflation Reduction Act (IRA) and the European Union (EU) is investigating potential market distortions caused by subsidies provided to Chinese electric vehicle (EV) companies, the South Korean government is seemingly more complacent, opera
Global leading tire company Hankook Tire is now supplying ‘Hankook RA08’, a radial tire for a light truck, as an Original Equipment Tire (OET) for the world’s best-selling eco-friendly vehicle company, BYD. ‘Hankook RA08’ will be used with BYD’s one-ton electric truck, the T4K.The T4K is distinguish
Tensions are escalating in the battery market as Chinese companies consistently establish factories in the U.S., leading to some speculating that the Biden administration’s electric vehicle policy has shifted from a “complete exclusion” of China to a “partial allowance.”According to foreign media an
Korea’s current account posted a surplus for the third consecutive month in July, but it was a recessionary surplus as imports fell more than exports. In particular, a surge in overseas travel led to a larger deficit in the travel account, making the size of the service account deficit 36 times larg
A hydrogen engine for passenger cars that uses hydrogen as fuel has been developed for the first time in Korea amid fierce competition for hydrogen mobility technology around the world.A joint research team led by Dr. Choi Young of the Mobility Powertrain Research Center at the Korea Institute of Ma
A significant trend among global automakers is the incorporation of China-made lithium iron phosphate (LFP) batteries, known for their affordability. With the growing market share of LFP batteries, concerns are rising about a potential crisis for the “top 3 South Korean battery manufacturers.” Howev
Mercedes-Benz has overtaken BMW as the No. 1 brand in monthly imported car sales after three months in the Korean imported car market. Audi remained in third place for the second consecutive month.The Korea Automobile Importers and Distributors Association (KAIDA) said on Sept. 5 that 23,350 importe
A Korean Air passenger airplane from Incheon International Airport to Gimhae International Airport failed to land and returned to Incheon, delaying its arrival at Gimhae by about three hours.According to Korean Air on Sept. 2, a Korean Air passenger flight (KE1419) that took off from Incheon Airport
Korean Actress Hyeri, who is also a former member of Korean girl group “Girl’s Day,” revealed that she did not receive a refund after having her airplane seat unilaterally downgraded. Therefore, Delta Air Lines offered an apology in a statement.According to Delta Air Lines, some first-class passenge
It was reported that production, consumption, and investment had all decreased in July. This simultaneous decline in the three major indicators of industrial activity, which together showcase the vitality of the South Korean economy, is the first since January. Additionally, facility investment reco
Hyundai Motor Group will transfer all of its hydrogen business capabilities to one subsidiary. Hyundai Mobis’ hydrogen fuel cell production management division will be transferred to Hyundai Motor to complete the Korean automotive group’s value chain of hydrogen mobility production and boost its eff
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced on Aug. 29 that it will initiate an inspection of the Social Overhead Capital (SOC) projects being undertaken in the Saemangeum region of Jeollabuk-do, or North Jeolla Province. The ministry intends to examine the necessity, feasi
LG Display, the world’s leading innovator of display technologies, announced today that it is to solidify its partnership with Mercedes-Benz and enhance the two companies’ cooperation on premium automotive displays.Brian Bong-seok Kwon, COO and Vice Chairman of LG Corp., James Ho-young Jeong, CEO an
Hyundai Motor has started the process of selling its Chongqing factory in China, which has been non-operational for over a year. This is the second such move after it sold its Beijing 1 factory in 2021. Hyundai also plans to halt operations and prepare for the sale of its Chengzhou factory, one of t
A bad feeling is growing among makers of electric vehicles that previously enjoyed rapid sales growth in the global automobile market. This is because their sales growth is staying on the skids year on year in major markets such as Korea, China, and the United States.According to the Korea Automobil