The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month.According to the company, the R&D center will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the cent

Industry April 4, 2011

Mercedes-Benz Korea is holding an online event offering 20 percent discount coupons to those who join the Mercedes-Benz Collection homepage to mark the German carmaker’s 125th anniversary. The Mercedes-Benz Collection consists of Mercedes-Benz memorabilia including clothing and accessories. The offer, available until April 20, is available to those joining the website for the first time. In additi

Mobility April 3, 2011

TURIN, Italy (DPA) ― Fiat intends to increase by 10 percent its current 25 percent controlling interest in U.S. carmaker Chrysler, the chief executive of both companies, Sergio Marchionne, said Wednesday.“We will soon bring our stake in Chrysler to 35 percent, Marchionne said during a Fiat shareholders’ meeting at the Italian company’s Turin headquarters, indicating the move would happen soon.Figu

Mobility April 3, 2011

Hyundai Motor Co., Korea’s largest carmaker, posted a 32 percent gain in U.S. sales in March to lead Asia-based manufacturers while Toyota Motor Corp. reported a monthly decline. Deliveries dropped 5.7 percent for Toyota. Nissan Motor Co. said Friday it had a 27 percent gain and Honda Motor Co.’s sales rose 23 percent as the three biggest Japan-based brands braced for the full effect of the countr

Mobility April 3, 2011

Sales of five automakers in Korea rose 10.8 percent in March from a year earlier on strong demands for new vehicles in both domestic and overseas markets, the companies said Friday.The combined sales of the automakers came to 649,994 units, compared with 586,561 units sold in March 2010. Domestic sales rose 8.1 percent on-year to 133,273 units in March with overseas sales also soaring 11.5 percent

Mobility April 3, 2011

TOKYO (AP) – Japan's tsunami-stricken nuclear power plant was leaking highly radioactive water into the sea Saturday, nuclear safety officials said.The plant has been spewing radioactivity since March 11, when a magnitude-9.0 earthquake and ensuing tsunami knocked out power, disabling cooling systems and allowing radiation to seep out of the overheating reactors.The water was seeping Saturday from

World News April 2, 2011

BAGHDAD (AP) – Al-Qaida in Iraq has claimed responsibility for an attack and hostage-taking that killed 57 people at a government building in northern Iraq.The statement was released on the militants' Web site on Saturday. It five suicide bombers carried out the operation using a car bomb and explosive belts.Gunmen wearing explosive belts under military uniforms charged into the provincial council

World News April 2, 2011

North Korea's parliamentary speaker asked Britain to send food aid to his country in the midst of a deepening food shortage, saying the upcoming two months would be the most difficult, a report said Saturday.Choe Tae-bok, chairman of North Korea's Supreme People's Assembly, visited Britain between March 28 and 31 on an invitation from the British-North Korea All-Party Parliamentary Group.David Alt

North Korea April 2, 2011

South Korea's top financial regulator has said the watchdog will push to make a final decision this month over whether Lone Star Funds has the legal right to be the top shareholder of Korea Exchange Bank (KEB).Financial Services Commission (FSC) Chairman Kim Seok-dong said in a meeting with reporters, "We are working to make a final decision on Lone Star's eligibility in April."The regulator is ex

April 2, 2011

RIKUZENTAKATA, Japan (AFP) – Japan's prime minister set foot Saturday in the tsunami zone for the first time since calamity struck three weeks ago, as the UN warned of a "very serious" nuclear situation.Naoto Kan, who flew into Rikuzentakata on a military helicopter from Tokyo, was also due to stop in nearby Fukushima prefecture, in a show of support for emergency crews risking their lives to prev

World News April 2, 2011

KABUL, Afghanistan (AP) – Three insurgents attacked a NATO base on the outskirts of Afghanistan's capital Saturday but were killed by coalition forces before they could enter the compound, NATO and Afghan police said.The attack came just hours after Afghans angry over the burning of a Quran at a U.S. church stormed a U.N. compound in northern Afghanistan, killing seven foreigners.NATO told The Ass

World News April 2, 2011