Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Food, housing, clothing fall in Korean consumers’ priorities
Koreans’ spending priorities are moving beyond the bare essentials, a survey showed Wednesday, with food, clothes and shelter all losing ground in the number of consumers who list them as their main concern.The basics had dominated South Korean consumers’ priorities, with the vast majority of consumers here listing their top concern as one of food, clothes or housing. Food still topped the most recent survey by the Korea Consumer Agency, with 21 percent of 8,000 respondents list
Mobility Nov. 13, 2019
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[News Focus] HDC spreads its tentacles with bid for Asiana
Asiana’s would-be new owner, Hyundai Development Company is a real estate developer which has been seeking business expansion and diversification in recent years from leisure to retail.Founded as a builder for residential projects in 1976, HDC is part of the pan-Hyundai empire, sharing the family roots that thrived due to former Hyundai Group founder late Chung Ju-yung. The current Chairman Chung Mong-gyu is the son of late Honorary Chairman Chung Se-yung, younger brother to the group
Mobility Nov. 12, 2019
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Kepco signs 25-year power supply deal in Guam
State-run power supplier Korea Electric Power Corp said Monday that it has signed a deal to sell electricity to the Guam Power Authority Pacific for 25 years.Kepco will start providing electricity in October 2022 after building a power plant. Korean builder Hyundai Engineering is set to construct a 200-megawatt combined cycle power plant in the US island territory in August 2020. The commercial operation of the plant will start two years later. A special purpose company in which Kepco holds a 60
Mobility Nov. 11, 2019
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Hyundai adds inverted sound waves to GV80 for noise control
The first sport utility vehicle under the Genesis marque will use inverted sound waves for noise control, the first of its kind in the world, Hyundai Motor said Monday.The South Korean carmaker said in a statement that it has applied for a patent for Road-noise Active Noise Control, or RANC, both in the domestic market and the US. With RANC, the internal noise of a vehicle drops 3 decibels, half of what a passenger hears from a regular vehicle, it said. The technology, developed over six ye
Mobility Nov. 11, 2019
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Doosan’s hydrogen-powered drone wins CES awards
Doosan Mobility Innovation, a subsidiary of South Korean conglomerate Doosan Group, has won two awards from the Consumer Electronics Show 2020 for its fuel cell drones that can fly uninterrupted for over two hours, the company said Sunday.DMI received best of innovation award in the category of drones and unmanned systems, for pushing the limit of drones relying on the short lifetime of rechargeable batteries. Drones powered by lithium-ion batteries can fly 20-30 minutes while DMI’s hydrog
Technology Nov. 10, 2019
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Hyundai Motor heir says mobility innovation is for progress of humanity
The heir to Korea’s largest carmaker, Hyundai Motor, said on Thursday that the company’s future is in driving technology innovation for humanity, stressing its rationale behind works for future mobility. “Cities and mobility services were developed for humans from the very beginning,” said Chung Euisun, executive vice chairman of Hyundai Motor Group at the Mobility Innovators Forum 2019, held in San Francisco.“That’s why we are making a wide range of efforts t
Mobility Nov. 8, 2019
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Final bidding wraps up for sale of Asiana Airlines
Bidders for the sale of Asiana Airlines, the nation’s second-largest air carrier, threw their hats in the ring Thursday for a last chance, raising market expectations as to the fate of the cash-strapped company. Kumho Industrial has put a 31 percent stake in Asiana Airlines up for sale. Three bidders -- Aekyung Group, Hyundai Development Company and Korea Corporate Governance Improvement -- submitted applications. Kumho and Credit Suisse, the lead manager of the sale, are expected to under
Industry Nov. 7, 2019
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Posco chief stresses coexistence for future growth
Posco Chairman Choi Jung-woo on Thursday stressed the importance of forging business partnership in nonsteel sectors for the advancement of technology and sustainable future.Highlighting recent changes in the business landscape amid a slowing economy, Choi also said the steelmaker’s plan to expand its role in community is a way of defining its corporate identity. “Business environment has been deteriorating more than ever with the nation’s slowing economy showing no sign
Industry Nov. 7, 2019
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Han Sung Motor hires ex-MFG CEO as vice president
Han Sung Motor, the largest Mercedes-Benz dealer in South Korea, has appointed Han Jong-moon, a former CEO of MFG Korea, as vice president of sales and marketing, the company said Wednesday.Han served as chief operating officer of Han Sung Motor prior to his CEO post at MFG, an operator of local restaurant chains. He has taken charge of the dealer’s sales and marketing since September. With the appointment, Han Sung Motor expects to strengthen its business, citing Han’s previou
Mobility Nov. 6, 2019
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Foreign companies ‘unsatisfied’ with business environment in Korea: study
A majority of foreign companies and investors in South Korea feel unsatisfied with the business environment here in general, particularly with labor policies, a lack of local experts for research and development and language barriers, a study showed Wednesday.According to the report from the Korea Trade-Investment Promotion Agency, only 26.7 percent of foreign companies were “satisfied” with the business environment, the rest answering either “moderate” or “unsatisf
Industry Nov. 6, 2019
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SPC Group wins GRLC partnership award
SPC Group, a South Korean bakery and confectionary company that operates 60 brands worldwide, received the best partnership of the year award from the Global Restaurant Leadership Conference, a leading global food service conference, the company said Wednesday.The GRLC is the largest conference in the world for the global food service industry, held annually since 2016. SPC is the first Korean recipient of the award, the company added. The conference awards restaurant brands that excel in the gl
Industry Nov. 6, 2019
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Golfzon opens 1st Zstrict in US
South Korea’s leading golf simulator maker, Golfzon, launched last week its first store in the US under its new brand Zstrict, as parts of its effort in expanding sports entertainment business in the country, the company said Tuesday.Located in Chelsea Piers, a sports complex in Connecticut, Zstrict offers tournament-type golf games that allow players to participate simultaneously against each other in numerous competitions for cash and rewards. With cash and rewards gained by comple
Industry Nov. 5, 2019
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[Foreign Execs in Korea] Taking Korean defense technology to the world
The decadeslong standoff between the two Koreas has presented a struggle for Asia’s fourth-largest economy, but it has, ironically from a business perspective, ensured the continuous development of its defense industry. One of the driving forces that has led the development of South Korea’s defense technology is Hanwha, a conglomerate that started as a gunpowder supplier in the then war-torn country 67 years ago. It has since evolved into an energy-to-chemicals empire, but the defens
Industry Nov. 4, 2019
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Han Sung Motor supports public art project in Seoul
Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, will support a public art project run by the Seoul Foundation for Arts and Culture to create art installation works on streets of the capital city next month, the company said Thursday.Dream Gream scholarship recipients, Han Sung Motor employees and citizens will participate in the project titled “Sowon Bandi,” to create a collection of 5,000 solar-power light lamps, each of which holds a person’s wish
Mobility Nov. 4, 2019
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[Eye Plus] Silver grass waving on royal tomb of King Taejo
It’s unusual: tall silver grass covering the burial site of a king. Geonwolleng, the royal tomb of the founding King Taejo of the Joseon era (reign 1382-1398), is probably the only place in the world where one can take a glimpse into the past and enjoy the spectacular sight of silver grass waving in the autumn wind at the same time.It was his last wish, according to historians, that King Taejo wanted to have his tomb covered by silver glass brought from his home town Hamheung, now a part o
Travel Nov. 1, 2019
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