Kumho Tire to host golf tournament in China

Kumho Tire will sponsor the 2017 Kumho Tire Women’s Open at Weihai Point Hotel and Golf Resort in Shandong, China, from Friday to Sunday, the company said Wednesday. Kumho Tire has been holding Korea Ladies Professional Golf Association tournaments since 2013. This is the fifth time the company will be holding the event.  (Kumho Tire)A total of 123 Korean and Chinese golfers will compete in the golf event, including Korean pro golfer Jang Ha-na and China’s Peng Shanshan, both of whom the company

July 5, 2017

Jin Air opens new domestic route to Jeju Island

Jin Air Co., one of South Korea's biggest budget carriers, on Friday opened a new route to Jeju Island to capitalize on growing low-cost travel demand during the peak summer season.The low-cost carrier has allocated a 189-seat B737-800 jet to serve the Gwangju-Jeju route two times a day, the airline said in a statement.  A Jin Air B737-800 passenger jet takes off from a runway in this undated photo. (Photo courtesy of Jin Air)It currently operates three flights between the resort island and thre

June 30, 2017

[Best Brand] VORNADO Korea leads Korea’s air circulator market

VORNADO Korea, a domestic marketing company that has imported air circulators from US-based VORNADO since 2007, has found its footing in the South Korean market.VORNADO, which started its business in the mid-1940 in Kansas, is a US-based company that manufactures household fans and appliances related to air circulation. It prides itself on its signature energy efficient Vortex Technology, which allows all the air in a room to circulate by using a special airflow. A VORNADO VFAN Vintage Air Circu

June 29, 2017

Financial firms on guard for cyberattack threats

Banks and other financial institutions in South Korea have been on guard over threats of cyberattacks by alleged financial blackmailers, according to the banks and financial institutions on Tuesday. No damage has been reported so far, but about 20 banks, brokerages and the Korea Exchange received threats by hacking groups about paralyzing their Web sites.They received e-mails that set a deadline to transfer funds to the blackmailers to avoid the attacks.  (Yonhap)On Monday, four financial instit

June 27, 2017

Samsung ranks No.2 in global wearable market in Q1

Samsung Electronics Co. gained the No. 2 spot in the global wearable market in the first quarter of this year by overtaking Fitbit for the first time, on the back of the success of its Gear S3 smartwatch, data showed Sunday. According to the data compiled by Strategy Analytics, Samsung captured 12.8 percent of the global market share in terms of sales during the January-March period, overtaking Fitbit with 12.2 percent. Apple maintained its No. 1 status with a commanding 53-percent market share.

June 25, 2017

Hyundai Heavy affiliate sells stake in parent firm's spin-off unit

Hyundai Mipo Dockyard Co., an affiliate of shipbuilding conglomerate Hyundai Heavy Industries Co., sold its stakes in the affiliate recently spun off from its parent firm, a move seen to accelerate the conglomerate's drive for a holding company structure.In March, shareholders of Hyundai Heavy approved the company's plan to hive off its noncore businesses, aimed at what it claims will boost each business unit's competitiveness.Under the plan, the shipyard split into four independent entities: sh

June 21, 2017

[People] GS Caltex celebrates golden jubilee

GS Caltex Chairman Huh Jin-soo hosted a musical concert in Seoul on Monday to celebrate the company’s 50th anniversary with its longtime clients and business partners, the firm said Wednesday.“GS Caltex has grown along with customers for the past 50 years,” he said at the concert, which featured soprano Shin Young-ok and samulnori -- Korean traditional percussion -- musician Jang Sa-ik.GS Caltex Chairman Huh Jin-soo (GS Caltex)“(The company) will provide stable and sustainable value and will rem

June 21, 2017

Jeju Air to open route to Taiwan's Kaohsiung next month

Jeju Air Co., a South Korean budget carrier, said Wednesday it will open a route to Taiwan's Kaohsiung next month, the first such service offered by a local airline. The move is part of local budget carriers' efforts to expand routes to Southeast Asia and Japan not only to absorb growing low-budget travel demand but also to offset sharp declines in travel demand from China amid a diplomatic row over the deployment of a US anti-missile system in Korea. (Yonhap)Beijing banned the sale of travel pa

June 21, 2017

Kookmin Card signs partnership with US bank

KB Kookmin Card Co., a unit of South Korea's banking giant KB Financial Group Inc., said Tuesday it has inked a partnership with Bank of Hope in the United States in a move to make inroads into the large North American market.The card company said it will set up a joint venture with the Los Angeles-based lender with the aim of pursuing joint projects. (Yonhap)KB Kookmin Card said it expects the partnership to help it make inroads into the world's No. 1 economy.Bank of Hope, which has more than $

June 20, 2017

Hotel Shilla attends tourism expo in Hong Kong

Hotel Shilla Co., set to open its duty-free shops at an airport in Hong Kong later this year, said Tuesday it has participated in an international travel expo to expand its overseas foothold in the business.One of the major duty-free shop operators in South Korea, Hotel Shilla said it introduced its know-how about the duty-free and hotel business to local industry officials and tourists at the International Travel Expo Hong Kong which ran from Thursday to Sunday.In April, the operator of Shilla

June 20, 2017

LG Electronics launches AI division

South Korean tech giant LG Electronics Inc. said Sunday it has reorganized its structure and established two research centers devoted to the development of technologies related to artificial intelligence.The new centers -- AI and robotics -- will be directly under control of the Chief Technology Officer's office, and will focus on the development and implementation of AI-related services, the company said. (Yonhap)The move is part of the company's efforts to revamp research and development, and

June 11, 2017

Top court confirms guardianship over Lotte founder

The nation's top court has confirmed the designation of a nonprofit subsidiary of a law firm as the guardian of the founder of the country's retail giant Lotte Group, legal sources said Friday.The Supreme Court on Thursday dismissed an appeal filed by Shin Kyuk-ho against a family court's decision that put him under the Sun's legal supervision. It is a subsidiary of law firm One Law Partners that handles matters of public interest. In this file photo taken on March 20, 2017, Shin Kyuk-ho, founde

June 2, 2017

[Photo News] Singapore Airlines hosts cooking class for children with visual impairment

A VERY SPECIAL DAY -- Participants pose for a photo during an event on Saturday organized by Singapore Airlines and also joined by Singapore Airlines General Manager for the Korean branch Seah Chee Chian (standing, center), offering an opportunity for children with visual impairment and their families to cook in-flight meals with Chef Yim Jung-sik of Michelin-starred restaurant Jungsik. The event is part of the airline’s corporate social responsibility program and has been held since 2012. (Sing

May 29, 2017

Kepco ranks 138th in Forbes Global 2000

The state-run Korea Electric Power Corporation, the nation’s sole electricity provider, has maintained its strong presence in the Forbes Global 2000, the business magazine’s annual list of the biggest 2,000 public companies in the world, Kepco said Sunday.In this year’s list, Kepco ranked 138th, while placing second in the electric utilities sector. Kepco has also topped all other Asian electricity providers for the third consecutive year. (Yonhap)In 2016, Kepco was listed 97th for 2016 in an an

May 28, 2017

GE, Kepco partner for power project

General Electric has joined a next-generation power supply development project named Energy Valley Project led by Korea Electric Power Corp. in Naju, South Jeolla Province.The two firms held a launch event Thursday for the GE “Bitgaram” office that will provide GE legal and technical support.Kepco CEO Cho Hwan-eik and GE Energy Connections CEO Russell Stokes participated in the event to discuss details of the future investment for the Energy Valley Project. Some 70 representatives from the Natio

May 25, 2017

GS Caltex celebrates its 50th anniversary

GS Caltex held its 50th anniversary event Thursday at GS Tower in Gangnam, Seoul, celebrating achievements the company made over the past five decades.GS Caltex Chairman Huh Jin-Soo encouraged employees to prepare for the next 50 years to come in his speech. Korea’s first private-sector oil refiner GS Caltex was founded in 1967 as Honam Oil Refinery. It changed its name to LG Caltex in 1996 and GS Caltex in 2005, the year in which GS Group was founded.GS Caltex‘s daily oil-refining capacity has

May 18, 2017

SK Networks chief receives philanthropy award

SK Networks Chairman Choi Shin-won became the first recipient of the United Way Global Philanthropy Award, the company said Sunday.Choi received the award during the Community Leaders Conference held by United Way Worldwide in Orlando, Florida, Tuesday to Friday.UWW is one of the world‘s largest charities, currently with a network of some 1,800 affiliates globally. SK Networks Chairman Choi Shin-won (center) takes a picture with United Way Worldwide President Brian Gallagher (left) and UWW’s Gua

May 14, 2017