Hyundai, Kia's Aug. US sales rise 18% despite chip shortage

Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales in the United States rose 18 percent last month from a year earlier despite the prolonged global chip shortage. Hyundai and Kia sold 130,424 vehicles in the world's most important automobile market in August, up from 110,209 units a year ago, according to the companies' sales data. Hyundai's sales climbed 14 percent to 64,335 units last month from 56,200 a year ago, while Kia's jumped 22 percent to

Sept. 2, 2022

Seoul shares open higher on dip-buying

South Korean opened higher Friday, following a big drop in the previous session, amid lingering concerns over the US rate hikes and a global economic slowdown. The benchmark Korea Composite Stock Price Index (KOSPI) added 8.02 points, or 0.33 percent, to trade at 2,423.63 points as of 9:15 a.m. The index tumbled more than 2 percent Thursday, as investors were worried about the US Federal Reserve's aggressive monetary tightening to tame inflation. Overnight, US shares ended mixed. The Dow Jo

Sept. 2, 2022

Samsung bets big on home connectivity

BERLIN – Samsung Electronics is betting big on its SmartThings smart home platform, declaring that a connected home is now a reality that creates new value for users. “This year will mark the beginning of mass adoption of SmartThings,” said Han Jong-hee, Samsung's co-CEO who oversees the smartphone and home appliance businesses at a press conference held on the sidelines of the IFA trade show that kicks off in Berlin on Friday. The SmartThings platform aims to connect not ju

Sept. 2, 2022

LG debuts chameleon refrigerator that changes color

BERLIN/SEOUL – LG Electronics on Thursday debuted the world’s first refrigerator that changes color at the touch of a smartphone button ahead of the IFA trade show that kicks off Friday in Berlin. The chameleon four-door fridge MoodUp is a newest addition to LG’s high-end Objet Collection. The self-illuminating doors use light sources from light-emitting diodes. Users can choose one among some 170,000 color combinations, based on the 22 color options for top doors and 19 choi

Sept. 1, 2022

IFA 2022: What to expect from Samsung, LG

BERLIN -- IFA, Europe’s biggest tech show, is being held in person again after two years of pandemic disruptions, with South Korean tech rivals Samsung Electronics and LG Electronics among the largest exhibitors. The annual gathering will kick off in Berlin on Friday for a five-day run. After years of virtual business meetings and product launches, there may be skepticism about attending a giant face-to-face business event in this enduring pandemic era. But the IFA is ready to host more

Sept. 1, 2022

LG Innotek updates website as part of digital marketing scheme

Electronic components manufacturer LG Innotek said Thursday it has restructured its website to improve consumer experience and to maximize customer satisfaction. Visitors to the website can experience diverse contents ranging from technology, products, and recruitment information. Customers can subscribe to the company newsletter and may leave any questions they have about the company and its products. The most notable addition, according to the company, is the website’s new virtual show

Sept. 1, 2022

Posco, India’s Greenko to work together on hydrogen business

Posco Holdings said Thursday that it has clinched a deal with India’s second-largest renewable energy company Greenko to cooperate in green hydrogen and ammonia production in India, as part of the steelmaker’s push toward eco-friendly energy business. Green hydrogen refers to hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Green ammonia, a clean fuel

Sept. 1, 2022

Red flag raised as Korea suffers all-time high trade deficit

SEJONG/SEOUL -- South Korea recorded an all-time high trade deficit last month in the wake of skyrocketing import prices of raw materials and relatively low export growth, raising a red flag for Asia’s fourth-largest economy, which is heavily dependent on exports for its growth. According to the Ministry of Trade, Industry and Energy, the nation’s imports increased by 28.2 percent on-year to $66.14 billion in August, while exports increased by just 6.6 percent to $56.67 billion. Th

Sept. 1, 2022

Seoul stocks dip over 2% on US rate hike woes; Korean won at 13-year low

South Korean stocks fell more than 2 percent Thursday on deepening concerns over aggressive rate hikes by the US Federal Reserve. The Korean won slid to a 13-year low against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 56.44 points, or 2.28 percent, to close at 2,415.61. Trading volume was moderate at 563.43 million shares worth 8.15 trillion won ($6.12 billion), with decliners outpacing gainers 827 to 78. Institutions and foreigners shed shares worth 833.69 billion won and

Sept. 1, 2022

SK ecoplant invests $50m in US battery recycling firm

SK ecoplant, the engineering and construction unit under SK Group, said Thursday that it has clinched a $50 million deal to become the largest shareholder of US battery materials recycling firm Ascend Elements. The latest share purchase is part of SK ecoplant’s investments to foray into North American and European markets, according to the company. Established in 2015 in Massachusetts, Ascend Elements is a manufacturer of advanced battery materials using elements reclaimed from discarde

Sept. 1, 2022

[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo

South Korea’s two most influential business leaders -- Samsung Electronics Vice Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- are set to take a rather public role in promoting the country’s bid to host the 2030 World Expo in Busan. According to local reports quoting a source at the presidential office, Lee and Chey will be named presidential envoys for Korea’s World Expo bid and that they are set to visit the UK and Japan, respectively, in their new roles. Lee

Sept. 1, 2022

SK On hires COO from memory chip affiliate

South Korean lithium-ion battery maker SK On said Thursday it has hired former SK hynix President Jin Kyo-won as chief operating officer. Jin, who took the newly created role Thursday, will oversee the operation optimization, marketing, overseas manufacturing, research, purchase and next-generation technology of Korea’s second-largest battery manufacturer by global market share. Previously, Jin, a career engineer, had served as the chief product and production officer of SK hynix, the wo

Sept. 1, 2022

Samsung's OLED gaming monitor, new industrial tablet to debut in Europe

Samsung Electronics' new consumer electronics products like monitors and tablets are set to debut in Europe later this year, as Europe's biggest tech show IFA 2022 comes to a close. On Thursday, Samsung unveiled the plan for the release of newest gaming monitor Odyssey OLED G8 and rugged industrial tablet Galaxy Tab Active4. The Odyssey OLED G8 is Samsung's first gaming monitor that mounts a flat-panel display using organic light-emitting diode technology to achieve color accuracy and express

Sept. 1, 2022

Naver aims to expand metaverse presence in Thailand

Naver Z, the South Korean IT giant’s subsidiary that runs the Zepeto metaverse platform, has joined hands with Thailand’s largest telecommunication services provider to expand the virtual world’s ecosystem in the Southeast Asian nation, Naver said Thursday. Naver Z and True Corp. signed a memorandum of understanding for a strategic partnership between the two firms at True’s Bangkok office on Wednesday. “Through this partnership, we will look to lead Thailand into

Sept. 1, 2022

Fractional share trading launch in Korea likely to be delayed

South Korea’s plan to launch fractional share trading this month is likely to be delayed, with authorities struggling to decide on which tax framework to adopt for the system, officials said Thursday. The struggle comes as Asia’s fourth-largest economy braces for changes in tax systems tied to stock and cryptocurrency trading. Financial authorities are currently in the process of figuring out whether to impose tax on fractional share trading as regular “stock trades” or

Sept. 1, 2022

Samsung heir Lee Jae-yong to serve as presidential envoy for World Expo bid

Samsung Electronics Vice Chairman Lee Jae-yong will serve as a presidential envoy for South Korea's bid to host the 2030 World Expo in Busan, a presidential official said Thursday. Lee has been cited as among the top business executives joining the government's campaign to bring the event to the southeastern city. "Regarding Samsung Electronics Vice Chairman Lee Jae-yong, I heard that we decided to send him as a special envoy for the hosting of the expo in Busan," the officia

Sept. 1, 2022

S. Korea's economy grows 0.7% in Q2, unchanged from earlier estimate: BOK data

  South Korea's economy grew at a faster pace in the second quarter of this year as private spending rose amid eased coronavirus restrictions despite shrinking exports, central bank data showed Thursday. The country's gross domestic product (GDP) -- a key measure of economic growth -- increased 0.7 percent in the April-June period from three months earlier, according to the preliminary data from the Bank of Korea (BOK). The growth slightly quickened from the previous quarter's 0.6 percent r

Sept. 1, 2022

Samsung, SK group leaders likely to visit Britain, Japan to promote Busan World Expo bid

Top executives of the Samsung and SK groups are expected to visit Britain and Japan this month to promote South Korea's bid to host the 2030 World Expo in the southern city of Busan, sources said Thursday. Samsung Electronics Vice Chairman Lee Jae-yong is reportedly planning to visit Britain later this month after the appointment of Britain's new prime minister. SK Group Chairman Chey Tae-won is expected to visit Japan this month also as part of the government's World Expo bid cam

Sept. 1, 2022

[해커스 TOEIC] 토익 점수 Up 단어, Part 5 문제

2) 파트 5 3문제 1. The secretary does not know ------- the company president will be able to attend an emergency meeting due to his hectic schedule. (A) on (B) if (C) while (D) once 해석 -- 그 비서는 기업 회장이 정신없이 바쁜 일정으로 인해 긴급회의에 참석할 수 있을 것인지 알지 못한다. 해설 -- 명사절 접속사 채우기 문제 빈칸 이하(------- the company president ~ hectic schedule)는 타동사(know)의 목적어 자리이다. 따라서 목적어 자리에 온 절을 이끌 수 있는 명사절 접속사 (B) if(~인지 아닌지)가 정답이다. 전치사 (A), 부사절 접속사 (C), (D)는 명사절을 이끌 수 없다. 어휘 secretary 비서 attend 참석하다, 출석하다 emergency meeting

Sept. 1, 2022

Seoul shares open lower on US rate hike woes

South Korean stocks got off to a weak start Thursday, tracking overnight losses on Wall Street, on lingering concerns over the US Federal Reserve's aggressive policy tightening and a global economic slowdown. The benchmark Korea Composite Stock Price Index (KOSPI) lost 39.89 points, or 1.61 percent, to trade at 2,432.16 points as of 9:15 a.m. The stock market has lost steam in recent sessions, after Fed Chair Jerome Powell stressed his determination to tame inflation during the annual Jacks

Sept. 1, 2022