Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Monday it reached a total of $46.5 billion in overseas orders last year, a record figure that nearly doubled on-year. Its unique sales strategy, among other things, has proved effective in appealing to global carmakers, the company said. Hyundai Mobis currently operates sales units in its key production bases globally and the extensive global network now helps it secure a footing in the burgeoning parts market for electri

Mobility April 24, 2023

South Korean online game developer Netmarble said Sunday that the Chinese authorities have recently granted a service license to distribute a new online game based on its mobile role-playing game, “StoneAge World.” China’s National Press and Publication Administration, the agency in charge of licensing new video games, on Thursday released a list of 86 foreign games that have gained approval for domestic distribution. One of the newly approved games is “StoneAge: Awakenin

Industry April 24, 2023

South Korean steelmaker Posco Group said Sunday it has been selected as the sustainability champion by the World Steel Association for two consecutive years, one of the industry’s top honors. Since 2018, the WSA has selected sustainability champions among its 140 member companies to recognize environmental, social and corporate governance efforts. Posco was one of the 10 companies selected this year. In order to win the recognition, companies are required to be selected as a sustainability

Industry April 24, 2023

Diageo Korea said Thursday that it has signed a memorandum of understanding with the British Embassy in Seoul to extend sponsoring the UK government's global scholarships program. Through the extension, the Korean unit of the British drinks group plans to continue to help foster global leaders in Korea until 2026. The Chevening Scholarships are a global scholarship program organized by the British Ministry of Foreign Affairs. They are awarded to talented people with excellent academic backg

Industry April 20, 2023

Hyundai Mobis, a car parts maker under Hyundai Motor Group, is renewing its commitment to the all-important Chinese market as it showcases its latest technologies at Auto Shanghai 2023, the first large-scale motor show since the COVID-19 pandemic. The company said Wednesday it is holding extensive business meetings with Chinese and other global carmakers during the trade show that kicked off Tuesday. Over 1,000 carmakers and their suppliers have flocked to the Chinese city to flaunt their late

Mobility April 19, 2023

Standard Chartered Bank Korea announced Tuesday it has launched a promotion for new clients signing up for its “Jaeil EZ account,” promising first-time customers interest rates of up to 3.6 percent per year, even to those who deposit their funds for a single day. Jaeil EZ account is a high-interest money market demand account providing a basic daily interest rate of 2.6 percent. Newcomers can enjoy an additional 1 percent interest rate during the first six months without any addition

Industry April 18, 2023

The SDX Foundation, a nonprofit seeking sustainable growth based on digital transformation, said Sunday it will hold the ReWorld Forum in Seoul on April 26 under the themes of net-zero transition as well as environmental, social and corporate governance. The upcoming forum will focus on exploring “transition finance,” which offers financial services to high carbon-emitting industries for their carbon-neutral transition. In Asia alone, the market for transition finance is expected to

Industry April 16, 2023

KB Financial Group said Thursday that it has signed a memorandum of understanding with the nation’s two leading law firms, Sejong and Taepyeongyang, to offer upgraded legal consulting services to customers for its premium private banking and asset management brand KB Gold&Wise the First. The signing ceremony was held at KB Securities’ headquarters in Yeouido, western Seoul, on Wednesday, with top executives including KB Financial Group’s senior managing director in wealth m

Industry April 13, 2023

Genesis BBQ Group Chairman Yoon Hong-geun has won a certificate of achievement from the US state of New Jersey for the South Korean fried chicken franchise operator's successful investment in the American market for 20 years, the company announced Wednesday. According to Genesis BBQ Group, the operator of the BBQ chain, Chairman Yoon was granted the certificate in recognition of New Jersey's economic development and job creation from New Jersey Sen. Gordon Johnson during his visit to S

People April 12, 2023

Chanel Korea has launched an online pop-up store to sell luxury watches, marking the first time the French fashion house is selling its high-priced luxury goods online, excluding beauty products. The online store will be running on SSG.com, an e-commerce platform owned by Korean retail giant Shinsegae Group. Chanel plans to sell seven watch products -- including the J12 Cybernetic, Boy Friend CyberData and J12 Interstellar -- through the store, named the “Chanel Interstellar Capsule Collec

Consumer April 11, 2023

Renault Korea Motors said Tuesday that it is sponsoring a photo exhibition of Thomas Goisque, a world-renowned French travel photographer, as part of its ongoing efforts to support Busan’s bid to host the 2030 Expo. The exhibition kicked off Monday at the France Art Space in Busan, with Renault Korea CEO Stephan Deblaise, Busan Mayor Park Heong-joon and Goisque, the photographer, in attendance. During his stay in Busan, Goisque also will shoot photos across the nation’s largest port

Industry April 11, 2023

Jungheung Group Vice Chairman Jung Won-ju met with Vietnam's Binh Duong Provincial People's Committee Chairman Vo Van Minh to discuss potential investment in the Vietnamese region. During the meeting at the headquarters of Jungheung subsidiary Daewoo Engineering & Construction on Thursday, the city asked for investment from Daewoo E&C, as Binh Duong is planning infrastructure and smart city projects along with new city development. "Vietnam is the most important hub of Dae

Industry April 9, 2023

Local governments and private companies in South Korea have been ramping up efforts for the country's bid to bring the World Expo to Busan in 2030. Hosting the 2030 World Expo has been a long-standing goal for Korea, who started on the path to candidacy in 2014. In 2019, the bid for the World's Fair was designated as an important national project, prompting the establishment of a joint public-private bidding committee, which has been up and running since last year. Prime Minister Han D

Industry April 6, 2023

Korean Air, the nation’s number one flag carrier, said Wednesday it recently celebrated the fifth year of its joint venture partnership with the US' Delta Air Lines by holding a home repair project in Calauan, the Philippines. Calauan in Laguna province is home to a resettlement site project of 650 houses built by Habitat for Humanity, the non-profit international home-building organization, for low-income families affected by Typhoon Ondoy in 2009. Approximately 110 units remain unoc

Industry April 5, 2023

Korean Air said Wednesday it is resuming services to four major destinations in Europe by late April. After a three-year hiatus due to the COVID-19 pandemic, the airline has resumed flights to Prague and Zurich since March 27, while those for Istanbul and Madrid are set to be resumed from April 24. Each route will have three flights per week. The four cities are among the most popular tourist destinations in Korea. Prague in eastern Europe is home to many UNESCO world heritage sites. Zurich, the

Mobility April 5, 2023