The recent launch of Hyundai Motor’s luxury brand Genesis is important for the continued growth of the nation’s top automaker, which is facing falling profitability. 　The move was also meaningful for the automaker’s generational power shift. 　Hyundai’s luxury midsize sedan Genesis was first introduced in 2008 by Hyundai Motor Group chairman Chung Mong-koo, 77. The birth of the Genesis paved the way for Hyundai’s leap into the global luxury car market.　Seven years later, his only son Chung Eui

Mobility Nov. 20, 2015

Ferrari Japan managing director Reno De Paoli, who is also in charge of the Korean market, poses next to the new 488 Spider, the Italian supercar’s latest and most powerful Spider, featuring the patented retractable hard top, a new engine and a fresh design, at the launch event in Seoul on Wednesday. The base price for the car starts from 380 million won ($325,000). FMK 

Mobility Nov. 17, 2015

Entrepreneurship refers to capacity and willingness to develop, organize and manage a business in spite of any risks or uncertainties ahead. 　Entering an era of low growth and high unemployment, many countries across the world are in competition to boost entrepreneurship to drive growth and create jobs. To nurture entrepreneurs, they have streamlined or created related rules and policies. 　Looking back the nation’s corporate history, entrepreneurship is not a new concept. Entrepreneurial activit

Industry Nov. 15, 2015

Shin Dong-joo, the spurned eldest son of Lotte Group founder Shin Kyuk-ho on Thursday said he has sued an executive of Lotte Japan.Shin Dong-joo, currently the head of SDC Corp., held a press conference at Peninsula Hotel in Tokyo to announce that he has filed a damage suit against Takayaki Sukuda. SDJ chairman Shin Dong-joo　Dong-joo said the executive had fed his father false or exaggerated facts about him to sully his reputation and ultimately cost him his job.  　“I cannot say the exact amount

Industry Nov. 12, 2015

   Jaguar Land Rover Korea is likely to face a penalty in Korea next year for overstating the fuel economy of its 2015 Jaguar XF 2.2D, the diesel-powered British executive saloon, according to news reports on Sunday. photo: Jaguar XF 2.2D　　“Jaguar Land Rover Korea overstated the fuel economy of its best-selling luxury sedan by more than 10 percent both on the city road and highway tests,” a Yonhap news report quoted an industry source as saying. 　The result is based on this year’s first-round fu

Mobility Oct. 25, 2015

    Hyundai Motor Group chairman Chung Mong-koo will donate 15 billion won ($13.3 million) from his personal fortune for a public trust to be used to ease youth unemployment, the Korean automotive group said Sunday in a press release.     Executives at Hyundai Motor Group followed suit and donated 5 billion won to the public trust, dubbed the Youth Hope Fund. 　The trust fund, proposed by President Park Geun-hye in September, will develop such activities as job creation and training programs for

Mobility Oct. 25, 2015

    Nissan’s Maxima sedan has returned to Korea with stronger performance and an upscale feel. 　The Japanese carmaker’s all-new Maxima, which had its Asia launch on Oct. 1 in Seoul, is a four-door sports sedan boasting 303 horsepower. Nissan's new Maxima sports sedan    The 2016 Nissan Maxima, ranked the first in the “affordable large car category” by U.S. News & World Report, has one of the most powerful non-turbocharge six-cylinder engines on the market. 　Under the hood, the all-new Nissan Max

Mobility Oct. 25, 2015

   CJ E&M, South Korea’s largest entertainment and media company, is facing a $50 million lawsuit in the U.S. for large-scale copyright-related violations, according to California court documents obtained by The Korea Herald.　Legal experts said the lawsuit is the biggest U.S. music copyright infringement case of the year in terms of the amount of damages sought. 　Seoul-based Korean music agency DFSB Kollective filed a suit against CJ E&M and its U.S. arm CJ E&M America in March with the Central

Companies Oct. 22, 2015

코리아헤럴드가 단독 입수한 미국 캘리포니아 법원 문건에 의하면 CJ E&M과 미국 자회사인 CJ E&M은 수백 개에 달하는 k-pop 음원을 미국 포함, 해외 사용자들에게 불법 유통시킨 혐의로 올해 3월 캘리포니아 중앙지방법원 (Central District of California)에 피소되어, 5천만불 (약 570억원) 규모의 민사소송을 진행 중인 것으로 확인되었다. 국내외 법률 전문가들은 국내 최대 미디어&엔터테인먼트 회사인 CJ E&M이 연루된 저작권법 위반 소송은 올해 미국 내 저작권 관련 소송 중 최대 규모가 될 것으로 추정하고 있다. 본사가 입수한 문건에 따르면 CJ의 미국 내 소송 기각 노력에도 불구하고 미국 법원은 본 소송의 배심원 재판 날짜를 내년 3월 1일 확정했다.  CJ E&M와 CJ E&M 아메리카를 대상으로 소송을 제기한 원고는 서울 소재의 한국음악 해외 유통사 DFSB Kollective (이하 DFSB) 사 이며, 미국 헐리우드 엔터테인먼트 관련 소송으

한국어판 Oct. 22, 2015

Chey Tae-won (left) poses with Hubei Province party secretary Li Hongzhong after discussing a number of cooperation projects during his recent visit to China on Aug. 28. SK Group 　   SK Group chairman Chey Tae-won is gearing up for the global expansion of the group’s key business sectors in his effort to regain growth momentum since he came back to the helm in August after a three-year absence. 　Businesses of the nation’s third largest conglomerate are divided into three areas -- energy and chem

Business Oct. 19, 2015

    Industrial conglomerate General Electric Co. on Friday reported a decline in third-quarter profit, but strong performances from its core units helped the company top Wall Street expectations.Jeff Immelt, chairman and CEO of General Electric. GE   General Electric has been making a push to focus on industrial businesses _ making large, complicated equipment for other companies _ and shrinking its other businesses that focus on finance. The largest change involves selling most of GE Capital's

World Business Oct. 16, 2015

  GOLFZON, the nation’s top golf simulator maker, said Thursday it signed an exclusive product distribution contract with Guangzhou-based Byron Asset Management in its efforts to expand its business in mainland China. 　“Under the contract, the company will supply at least 200 golf simulators to China’s third largest city via the Chinese partner for the next two years,” GOLFZON said in a press release. An indoor golf training center in Seoul where GOLFZON’s golf simulator is installed GOLFZON  　“

Industry Oct. 15, 2015

KEPCO CEO Cho Hwan-eik delivers the opening speech Monday at the 2015 BIXPO at the Kim Dae-jung Convention Center in Gwangju. KEPCO   The state-run Korea Electric Power Corp., the nation’s largest utility giant, has vowed to build an “energy valley,” a global hub city for smart energy, in Naju, South Jeolla Province.　KEPCO revealed its vision during the CEO‘s opening speech Monday for the 1st Bitgaram International Exposition of Electric Power Technology. 　“As a global energy leader, KEPCO has c

Business Oct. 12, 2015