Thilo Halter (center), Asia-Pacific president of MAN Truck & Bus, speaks during a press conference in Yongin, Gyeonggi Province, Monday. The German automaker expects sales here to remain weak next year, citing the economic slowdown as the reason. In the January-September period, the company sold 519 trucks and buses here. Last year, it sold 1,020 trucks and buses. The company held its second annual Truck & Bus Korea Fair at Yongin Speedway to promote its lineup, including

Industry Nov. 18, 2019

Chemicals-to-finance conglomerate Hanwha Group’s aviation unit Hanwha Aerospace said Monday that it has clinched a $300 million deal to supply aircraft engine parts to US airplane engine maker General Electric. Under the contract, Hanwha Aerospace will supply six kinds of engine parts for GE’s GE9X which is used for Boeing’s 777X, and some 40 kinds for LEAP engines for Airbus A320 Neo, such as high pressure compressors and turbine cases. The South Korean company will offer part

Industry Nov. 18, 2019

After unveiling a new look for its signature 21-year-old Scotch whisky which depicts the royal heritage and Britishness of the brand, Royal Salute has joined hands with an Icelandic artist and held a visual art exhibition in Seoul.Offering Korean consumers the chance to fully understand the colorful, rich heritage that the Royal Salute brand embraces, the latest exhibition includes Kristjana S. Williams’ illustrations. Her drawings feature the characters from the Royal Menagerie at the Tow

Industry Nov. 17, 2019

Korean Air flight KE 905 collided with another plane on the taxiway in Frankfurt, Germany, on Saturday, delaying the subsequent flight bound for Incheon, the air carrier said Sunday. The incident involving the flight that departed from Incheon occurred Saturday at 6:20 p.m. (local time). While waiting on the taxiway after landing at Frankfurt Airport, the airplane’s horizontal stabilizer located at its right wing crashed into the end of an Air Namibia’s plane left wing.According

Industry Nov. 17, 2019

Amid the tough business environment and deteriorating trade situation following worldwide conflicts, South Korea should expedite the development of knowledge-based assets and increase independence in related technologies to compete globally, according to the intellectual property office chief. “Advanced countries have been bolstering their industry dominance based on knowledge-based assets. Especially, a growing number of foreign companies have been preoccupying patents that are close

Industry Nov. 14, 2019

Debt-ridden Asiana Airlines’ choice of a consortium led by Hyundai Development Company as its new owner -- one of the three bidders for a controlling 31 percent stake -- is a boon for Aekyung Group which lost out, according to analysts Wednesday.The HDC consortium also includes Mirae Asset Daewoo, which will take 20 percent stake. Soon after the announcement, Aekyung said in a statement that it will continue to advance its budget airline brand Jeju Air’s safety operation system and d

Industry Nov. 13, 2019

A consortium of HDC Hyundai Development Company and Mirae Asset Daewoo was picked as the preferred bidder to acquire the country’s second-largest air carrier, Asiana Airlines, Tuesday.The decision comes seven months after Asiana Airlines’ parent company, Kumho Industrial, put a controlling 31 percent stake in its air carrier unit up for sale. Three bidders -- Aekyung Group, Hyundai Development Company and Korea Corporate Governance Improvement -- had submitted applications.“We

Industry Nov. 12, 2019

EVERETT, Washington -- Despite growing fears on plane defects worldwide, Boeing is relentlessly assembling 24 new aircrafts at its one-roof factory in Washington.At its Everett factory -- the world’s largest by size at 13.38 million cubic meters -- the firm’s wide-body 747, 767, 777 and 787 planes are being assembled by humans, robots and cranes. Robots bring the carbon fiber components for the B777X and fasten them together. They work by going underneath the components, whereas

Industry Nov. 11, 2019

South Korean airport operator Korea Airports Corp. said Wednesday it submitted the final proposal for the operation of an airport in Manta, Ecuador, on Monday, after wrapping up a preliminary site survey and working-level discussions.Manta is located in the capital of Quito, a popular vacation city responsible for about 10 percent of the country’s economy. KAC has been selected as the preferred bidder to renovate, expand and operate the airport for 30 years. The airport had suffered d

Industry Nov. 6, 2019

UNCASVILLE, Connecticut -- Incheon, home to South Korea’s largest international airport, is set to transform into a comprehensive entertainment zone representative of Northeast Asia, according to officials.A five-star hotel, an arena, convention facility, casino and theme park are being fast-tracked at the International Business Center of the airport. The Incheon International Airport Corp. said Tuesday that the integrated entertainment resort project -- the largest in Korea under the name

Industry Nov. 5, 2019

[코리아헤럴드(코네티컷)=김다솔 기자] 영종도 인스파이어 복합리조트 내에 들어설 미국 영화회사 파라마운트 픽쳐스의 테마파크가 ‘파라마운트 코리아’라는 이름으로 2025년에 들어선다. 　파라마운트 픽쳐스의 타이 그라나롤리 전무는 3일(현지시간) 미국 코네티컷에서 “K-pop과 한국의 역사, 고유 문화 등 한국의 스토리 라인을 담은 놀이기구를 포함한 테마파크를 조성할 것”이라고 말했다.　서울에 위치한 롯데월드와 접근성이 좋은 에버랜드와 맞붙게 되는 파라마운트 코리아는 영종도에 들어설 인스파이어 복합리조트 내 약 400,000 제곱미터 공간에 들어설 예정이다. 그라나롤리 전무는 파라마운트 테마파크에서 선보일 “드림스 오브 코리아 (Dreams of Korea)라는 쇼를 통해 한국의 역사와 스토리를 보여줄 것”이라고 말했다. 이 외에도 주,야간 퍼레이드를 포함한 다양한 라이브 엔터테인먼트 쇼로 방문객들의 눈을 사로잡겠

한국어판 Nov. 5, 2019

Amid fierce competition, Korean low-cost carriers are seeking to attract more passengers by upgrading their in-flight services and diversifying routes. They had previously focused on no-frills cheap flights without meals and entertainment. But in early October, Air Seoul -- under the country’s No. 2 full-service carrier Asiana Airlines -- began offering in-flight movies, a first for a low-cost carrier here. The LCC operates the Airbus 321-200, which has personal screens for each seat, unli

Industry Nov. 3, 2019

South Korean air carriers will be subject to a government safety probe within the next month, a move by the Transport Ministry to improve safety checks in the wake of global concerns over component malfunctions of Boeing 737 Next Generation aircrafts.Following the Ministry of Land, Infrastructure and Transport’s announcement of the measures on Wednesday, a total of 150 B737 NG aircrafts operated in the country are to undergo an emergency safety inspection by the end of November. The i

Industry Oct. 31, 2019

South Korean logistics company Hyundai Glovis said Wednesday that it had opened a vehicle-storage space at Southport Yard inside the Port of Philadelphia, where new Hyundai, Kia and Genesis cars will arrive before they are shipped off to dealerships in the US.With the opening of the new facility which spans over 1 square kilometer of land, some 36,000 vehicles will be unloaded and stored at Southport Yard off of the ships for checking before imported to the US. The opening ceremony was attended

Industry Oct. 30, 2019

BMW Group Korea held the BMW Ladies Championship 2019 from Thursday last week to Sunday, with South Korean golfer Jang Ha-na clinching the top place in a three-hole playoff.The four-day event at LPGA International Busan drew an audience of some 70,000 who watched the play, the largest number to watch an LPGA tour match so far. BMW Group said the Ladies Championship illustrates its willingness to continue to invest in the Korean sports industry and raise Korean golf’s status globally.The co

Industry Oct. 30, 2019