Han Sung Motor’s unique art scholarship program, which supports 40 young students a year to foster their artistic dreams, has reached a 10-year milestone this year. Looking ahead to the next decade, the official dealership for Mercedes-Benz here has launched the Dream Gream 2.0, an upgrade to the program that chief executive Ulf Ausprung designed and introduced back in 2012. The Dream Gream 2.0 adds a variety of new activities to the existing program in order to benefit not just the c

Mobility March 24, 2021

Gmarket’s mobile app has undergone a complete reform to be more intuitive and easier to use, eBay Korea, the company behind the online marketplace, said Tuesday. According to the e-commerce platform operator which also runs G9 and Auction in South Korea, the app has been renewed to match Gmarket’s new brand identity. The changes are not just in the way it looks, but in the way the app operates to offer a more convenient shopping experience for customers, it stressed. Having la

Consumer March 23, 2021

Tired of the busy city life and in need of a moment’s refreshment? Seoul Dream Forest is the place to go.  The 665,190-square-meter park in Seoul’s Gangbuk-gu is the fourth-biggest park in the capital -- after World Cup Park, Olympic Park and Seoul Forest. It offers the possibility of a peaceful walk. The vast expanse of nature is well-managed, and the facilities are well-placed to add convenience and enjoyment to the walk.  A concert hall and an exhibition building offe

Travel March 20, 2021

About a week into its debut on the New York Stock Exchange, Coupang is allowing some of its workers to sell their shares. Coupang announced an early stock lockup agreement release for about 34 million shares held by employees, which became eligible for sale at the opening of trading Thursday US time. According to the South Korean e-commerce platform company, the condition of the release -- that its stocks must close at or above the initial public offering price, $35 -- was satisfied as of th

Consumer March 19, 2021

Samyang Foods achieved record sales of 648.5 billion won ($572 million) and an operating profit of 95.3 billion won in 2020 despite the COVID-19 pandemic, the South Korean food company said Friday. Samyang Foods, which produces the globally popular Buldak Spicy Chicken Noodle, said both its sales and operating profit jumped last year from a year earlier, by 19.3 percent and 21.9 percent, respectively. Sales from overseas backed the sales growth, having increased 35.8 percent on-year to reco

Consumer March 19, 2021

CU is launching a beer subscription service to target the increasing number of people enjoying imbibing alone and at home, the convenience store chain operator said Thursday. BGF Retail, the firm behind the convenience store chain, has teamed up with beer subscription app service Dailyshot to roll out its service where a user can get three cans of popular beer products from a nearby CU store at 6,900 won ($6.10) per month. CU is the first to launch such a service for beer in the convenience

Consumer March 18, 2021

With advanced driver assistance systems and a great price, Volkswagen’s Passat GT stands as the flagship model leading the “democratization” of the imported car market, Volkswagen Korea said Wednesday. The German automaker said the newest model of the eighth-generation Passat GT is a reasonable choice for those looking for a sedan with good value, available at lower prices than its rivals, but not missing out on the latest technologies. In 2018, Volkswagen Korea set a goal

Mobility March 17, 2021

Kumho Tire’s best-selling tire Ecsta HS51 ranked No. 1 in the latest contest for summer tires, and gained an “Exemplary” rating by Auto Bild, the company said Wednesday. Auto Bild, a renowned German publication, recently compared dry and wet braking performances of 53 summer tires sold in Europe. There, Ecsta HS51, which is Kumho’s best-selling model in the European market, was awarded the first place, beating rivals such as Michelin, Continental and Bridgestone, Kum

Mobility March 17, 2021

South Korean retail giant Shinsegae Group and information technology behemoth Naver are combining forces to gain an upper hand in the fast-changing e-commerce field, the two firms announced Tuesday. Chiefs of the two sides signed a stock swap deal worth 250 billion won ($221 million) and a strategic partnership agreement at JW Marriott Hotel in Seoul earlier in the day, they said. The ceremony was attended by E-mart CEO Kang Heui-seok and Shinsegae CEO Cha Jeong-ho, both from Shinsegae Grou

Consumer March 16, 2021

Despite difficulties posed by the COVID-19 pandemic, McDonald’s Korea witnessed a 7 percent growth in sales last year, driven by strong drive-thru and delivery orders, the company said Tuesday. In a pre-recorded video, McDonald’s Korea Managing Director Antoni Martinez revealed that overall sales for McDonald’s and its franchises here topped 980 billion won ($866 million) in 2020, up 7 percent from a year earlier. Excluding franchise outlets, the revenue for stores directl

Consumer March 16, 2021

Jaguar Land Rover Korea will launch four new models to strengthen its product portfolio and lower the prices of the cars to meet consumer demands, the company’s managing director said in a press conference on Monday. Speaking to the media here for the first time since his appointment in October 2020, Robin Colgan laid out his 4P strategy to strengthen the company’s foothold in the market, and reiterated the automotive group’s global roadmap focused on electrification. 　 Thi

Mobility March 15, 2021

Ikea Korea has unveiled its first “Circular Hub” in South Korea at its Goyang branch in Gyeonggi Province, where second-hand items are sold, the Swedish furniture company said Monday. The Circular Hub is a global project introduced by the Ingka Group, in its commitment to prolong the life of its products and contribute to circularity, Ikea explained. “With the launch of ‘Circular Hub,’ we are excited to support the many people with new, more inspiring ways to ea

Consumer March 15, 2021

Posco International will sell green bonds worth 80 billion won ($70 million) to finance its efforts on the environmental, social and corporate governance (ESG) fronts, the company said Sunday. The ESG bond issue is part of the firm’s plan to raise 150 billion won in the debt market. The rest, 70 billion won, is to be raised through regular bond offerings. 　 The volume of bond sales could be even greater, the trading arm of steelmaker Posco said, as institutional investors demanded as m

Industry March 15, 2021

In the wake of a massive property speculation scandal involving former and incumbent officials at the Korea Land & Housing Corp., the government is expected to start the discussion on ways to reform the scandal-plagued state housing developer, this week. In a ministerial-level meeting on Sunday, Prime Minister Chung Sye-kyun pledged a complete overhaul of the LH in order to prevent its officials from engaging in misconducts such as real estate speculation. “We will come up with an

Industry March 14, 2021

Coway has hired the BTS as the new model for global promotion of the company, the Korean home appliances rental company said Sunday. Signing the contract with BTS’ management agency Big Hit Entertainment, Coway said it seeks to raise brand awareness and increase its consumer base in the global market. Under the contract, BTS will be promoting the company image and its services, including lease of various appliances such as water and air purifiers and mattress rentals, Coway said. Adve

Consumer March 14, 2021