South Korea’s automobile production slipped by 2.1 percent last year, falling a third year in a row, according to industry data Sunday.The Korea Automobile Manufacturers Association said that South Korea produced 4.02 million automobiles last year, a fall of 2.1 percent from the previous year. China topped the list in production terms, followed by the US, Japan, Germany, India and Mexico, in that order. South Korea, at No. 8, was followed by Brazil, Spain and France. China’s 4.2 percent fall in

Mobility Feb. 10, 2019

It is the clash between taxi operators and carpooling services that is making headlines today. But automakers and tech startups around the world are already taking the next step, showcasing the latest future mobility technologies designed to take the control of vehicles from human hands. This technological adventure to create a new industry leaves one question that we all want to know: so when will flying cars or robot taxis become commercialized? During the Consumer Electronics Show that took p

Mobility Feb. 7, 2019

Amid the ongoing clash between taxi drivers and those moving to create new technology-based services, the head of a local ride-sharing company has called for ways to coexist, saying that carpooling is just another option, not a threat to the taxi industry. Expressing deep concern, Seo Young-wu, CEO of ride-sharing startup Poolus, highlighted the death of a 57-year-old taxi driver who set himself on fire in protest against a carpooling service late last year.Poolus CEO Seo Young-wu (Poolus)The pl

Mobility Feb. 7, 2019

South Korean pharmaceutical company Yuhan said Friday that it had tapped its research center head as a new chief of its US subsidiary Yuhan USA. The company said Choi Soon-kyu would lead Yuhan USA, making full use of his experience in developing new medicines and exporting technologies. Choi has worked at multinational companies including German pharmaceutical company Bayer and PTC therapeautics. Seoul-based Yuhan established a wholly owned subsidiary in the US, named Yuhan USA, in San Diego in

Industry Feb. 1, 2019

South Korean discount chain Homeplus said Friday it will grant permanent full-time employment status to all of its some 12,000 contract workers at 124 stores.The exact date when their status will be changed has not been confirmed, as it requires discussions with the labor union, the company said. It is the first attempt in the industry to grant contract workers permanent-employment positions.According to Homeplus, the company has been discussing the minimum wage with its labor union. Both sides

Industry Feb. 1, 2019

South Korean health-and-wellness company Bodyfriend is tapping into the European market with the opening of a flagship store in Paris, the company said Friday.The firm has opened flagship stores in the US and China. The 660-square-meter store in Paris will be located in a building on Boulevard Haussmann, an area known for luxury shops. Prior to the opening, the company will run a pop-up store at the Bon Marche department store for two months from Feb. 23. High-end massage chairs, such as the Lam

Industry Feb. 1, 2019

South Korea’s leading water and air purifier maker Coway announced Monday a plan to attract 2 million customers in Southeast Asia by 2020, amid its high popularity in the overseas markets. During an event celebrating the company’s achievement of securing 1 million units sold last year, Coway CEO Lee Hae-sun unveiled the company’s overseas expansion plan.Coway CEO Lee Hae-sun (fourth from right) poses with Coway Malaysia executives and employees for a photo during an event held in Kuala Lumpur, M

Industry Jan. 28, 2019

The owners of South Korea’s top 10 chaebol groups saw their stock value rise by about 2 trillion won ($1.7 billion) this month to reach 30.17 trillion won, industry data showed Sunday. According to Chaebul.com, which tracks conglomerates here, the figure was up 8.3 percent from 27.8 trillion won at the end of last year. Individually, the value of stocks held by Samsung Electronics Chairman Lee Kun-hee rose to 15.1 trillion won, up 11.5 percent from 13.6 trillion won at the end of last year. Lee,

Industry Jan. 27, 2019

Baby care products have usually taken up only a small section at department stores in South Korea, with a handful of baby care stores filling about half a floor.But brands for babies and toddlers have recently expanded their territories at many of the major department stores here, which have traditionally targeted affluent women in their 40s as their main customers.(AP)Buoyed by demand from parents looking further upmarket in selecting goods for their children, Lotte Department Store, has filled

Industry Jan. 24, 2019

Amid deteriorating air quality in South Korea, air purifiers and clothes dryers have become more popular in the nation’s home appliance market, market data showed Tuesday. According to local discount store chain E-mart, sales of air purifiers from Jan. 1 to 20 jumped 180 percent compared to the same period last year. Sales of air purifiers ranked eighth this month in the home appliance category.In light of concerns over air quality, home appliances that reduce exposure to dust, such as air purif

Industry Jan. 22, 2019

JTI Korea, the Korean unit of the global tobacco maker, said Monday that it has tapped Jose Luis Amador as the new CEO of the Korean unit. JTI Korea said Amador was chosen to lead the Korean company based on his combined experience in marketing and sales at global offices in Spain, Hong Kong and the head office in Switzerland.The Spanish CEO spent the last seven years in Mexico, where he led the Mexican unit and launch of global cigarette brand Winston in the country.  Jose Luis Amador (JTI Kore

Industry Jan. 21, 2019

Mercedes-Benz Korea, the Korean unit of the German carmaker, said Thursday that it would push future mobility this year and roll out the new EQC crossover, its first fully electric sport utility vehicle.Declaring 2019 as the “year of EQ,” the company said it would launch four new plug-in hybrid electric vehicles in addition to the new fully electric SUV, as well as nine new models and six facelifted ones to strengthen its product lineup.The exact local launch date remains undecided, the company

Mobility Jan. 17, 2019

Hyundai Mobis, the car parts making arm of Hyundai Motor Group, said Thursday that it has partnered with telecommunication company KT to jointly develop connected car technologies. The companies have launched fifth-generation network service at Hyundai Mobis’ test ground in Seosan, South Chungcheong Province, in an effort to ramp up the drive for connected car research and development.A connected car refers to a car equipped with internet access, usually a wireless local area network. This allow

Mobility Jan. 17, 2019

Hyundai Motor said Wednesday that its Kona EV has debuted on the ride-hailing market in Singapore via carpooling service Grab. It is the first time an electric vehicle has been chosen for a carpooling service in Southeast Asia, according to the firm.Hyundai Motor said it has provided 20 Kona EVs for the launch of the electric vehicle carpooling service. By year-end, up to 200 Kona EVs will be added for Grab drivers, according to the firm. Established in 2012, Grab has been called the Uber of Sou

Industry Jan. 16, 2019

Hotel Shilla said Tuesday that it is opening its first overseas hotel in Danang, Vietnam, this year, aiming to become a global hotel chain. It will open more hotels in 10 further overseas locations, including in the US and China. Under its new brand Shilla Monogram, the hotel in Danang will be an upscale hotel comprised of a beach restaurant, lobby bar and 300 guest rooms across nine buildings.  Shilla Monogram Vietnam Danang (Hotel Shilla)The company said its overseas hotels will be operated ba

Industry Jan. 15, 2019