South Korea’s exports will recover next year to invigorate economic growth, which has been slowed in 2020 by the COVID-19 pandemic, a trade association chief said Wednesday. Speaking at a press conference, Korea International Trade Association Chairman Kim Young-ju said the organization foresaw export growth of more than 6 percent, and that the country’s trade volume will recover back above the $1 trillion mark next year. “OECD predicted Korea’s economy to grow 2.8 p

Industry Dec. 2, 2020

Posco International said Wednesday that it has partnered with the Korea Institute of Startup & Entrepreneurship Development to support small and midsized ventures and startup companies in entering overseas markets. Posco International and the institute held an online conference on the day to offer business consultations to 25 startup companies in fields including artificial intelligence, smart cities and the environment, the company said. From the business experience and global networks

Industry Dec. 2, 2020

Mercedes-Benz Korea said Tuesday it has officially launched new models for its revamped E-Class -- two Coupe models and a Cabriolet -- completing the lineup of its bestselling luxury sedan family. The automaker presented a four-seater coupe, the new Mercedes-Benz E 450 Coupe, and the high-performance AMG variant, the new Mercedes-AMG E 53 4Matic+ Coupe. Also launched was a four-seater open-top model, the new Mercedes-Benz E 450 4Matic Cabriolet. The launch of the new E-Class Coupe and E-Class

Mobility Dec. 1, 2020

A day after receiving flak on social media, Lotte Mart issued an apology Monday over a recent incident where one of its employees refused entry to a dog being trained to assist a person with a disability. On Sunday, a social media user shared pictures of a dog sitting inside Lotte Mart’s Jamsil branch in Seoul and said an employee had refused to allow the dog and trainer into the store. “The employee raised their voice, blaming the woman for bringing a dog in when she is not eve

Consumer Nov. 30, 2020

Volvo Cars Korea said Monday it delivered a donation of 300 million won ($271,000) to a nonprofit organization to support children with disabilities. Since 2017, Volvo Cars Korea has been working with Purme Foundation to support children with disabilities undergoing rehabilitation, the company said. The funds delivered will be used to provide assistive devices to 100 children and teenagers under 18, and for operation of a children’s rehabilitation hospital, the automaker said. &ldquo

Mobility Nov. 30, 2020

SsangYong Motor said Monday it has gained government approval to test-run Level 3 self-driving technology for its Korando model, and will start test-driving the vehicle on regular roads next month. The autonomous vehicle of the company’s compact crossover sport utility vehicle Korando is the second model for the automaker to receive such approval, following the Tivoli Air, the company said. South Korea‘s Ministry of Land, Infrastructure and Transport has introduced a permission s

Mobility Nov. 30, 2020

Pulmuone, a South Korean food company, said Monday its tofu products achieved a global standard for carbon footprints by Carbon Trust. According to Pulmuone, 10 of its tofu products attained Carbon Trust Standard for Carbon by Carbon Trust, a UK-based organization for climate impact reduction. “We are delighted to congratulate Pulmuone for being the first Korean food company to have its product carbon footprint certified by the Carbon Trust,” Morgan Jones, associate director of C

Consumer Nov. 30, 2020

South Korea’s leading automaker and search engine platform have agreed to work together on tech services and seek partnerships with small firms. Hyundai Motor Group said Sunday that it agreed to work with Naver to cooperate in three business areas -- media and platform content, new mobility services and new business models -- and build relationships with small and midsized enterprises. Chi Young-cho, Hyundai Motor Group’s executive vice president for strategy and technology, and

Mobility Nov. 29, 2020

Environmental degradation has become one of the greatest threats to humankind over the past decades. For one, the world is suffering from worsening air pollution, which is linked to deforestation, and the large forest fires that threaten the lives of millions worldwide.  Forestry is imperative for a healthy and sustainable future of humanity. As the world is suffering from the COVID-19 pandemic, experts also believe that deforestation is closely linked to the crisis and that forests can

Industry Nov. 29, 2020

Samyang said Wednesday that it has won a contract to supply ion exchange resins used in the purification of nuclear power plants to Korea Hydro and Nuclear Power. The chemical firm, affiliated with Samyang Holdings, said it had competed against foreign suppliers to obtain the order, becoming the first South Korean company to do so. Previously the country imported all its ion exchange resins, Samyang Corp. explained. Under the agreement, Samyang will supply 700,000 liters of four types of ion

Industry Nov. 25, 2020

General Motors Korea and its labor union reached a tentative agreement on wages Wednesday, four months after their talks began in July. According to GM Korea, the two sides came up with a draft agreement during negotiations that started Tuesday. In the tentative agreement, GM Korea promised to offer an incentive of 4 million won ($3,600) to its workers as a message of encouragement amid the COVID-19 pandemic. As the labor union asked for the management to maintain operations at the two aut

Mobility Nov. 25, 2020

YEONGJONGDO, Incheon -- SsangYong Motor’s new Rexton has returned, with a bolder look and enhanced driving assistance systems. Introducing the new Rexton after launching the previous Rexton G4 model in 2017, the automaker said it sought to create a young and trendy vibe for the upper-mid-sized sports utility vehicle, targeting families that enjoy leisure activities. The company expects the upgrade to raise the popularity of Rexton, which has been preferred by those seeking abundant inte

Mobility Nov. 25, 2020

Porsche Korea said Tuesday it opened the first Porsche Dream Circle, a student education program promoting the value of sustainability in the environment, at an elementary school in Gyeonggi Province. According to the automaker, the new project is part of its corporate social responsibility campaign, Porsche Do Dream, which marks its fourth year in 2020. Porsche Dream Circle, which has opened at the Pangyo Elementary School in Seongnam, is to provide a learning space for students on the imp

Mobility Nov. 24, 2020

A year and a half after presenting its sports utility vehicle QM6 with upgrades including new powertrains, Renault Samsung Motors introduced a new version of the bestselling model this month with a revamped exterior. Renault Samsung’s QM6 has been a cash cow for the automaker, having sold more than 160,000 units in the domestic market since its launch in 2016 and topping the country’s monthly sales of SUVs on several occasions. The first upgraded model came out in June 2019, when

Mobility Nov. 22, 2020

As the cold winter approaches, a community organization in Incheon has embarked on a project to share some warmth with the trees.  In the city’s Mansu district, trees lining the streets are clad in colorful patterned blankets knitted by members of the Dream Village Community.  Some feature hearts and flowers, while others draw on winter themes and depict characters such as Olaf, the snowman from “Frozen.” The Dream Village Community reportedly began knitting not on

Culture Nov. 21, 2020