Premium carmaker Mercedes-Benz became the first foreign carmaker to sell more than 50,000 cars within a year in South Korea, industry data showed on Wednesday. The Korean unit of German carmaker Mercedes-Benz sold 50,718 cars in the first 11 months this year, increasing more than 20 percent from a year ago, according to data from Korea Automobile Importers and Distribution Association.  Boosted by sales of three new E-Class sedans and sport utility vehicle models, it is set to become

Companies Dec. 7, 2016

The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the second installment. -- Ed. Shenzhen, CHINA -- “This is the future of our company and something China will be really proud of,” Wang Fan, communications director at the world’s biggest drone maker, Dajiang Innovation Technology Co., said in front of a displayed product. And it wasn&rsquo

Companies Dec. 6, 2016

A large-scale investigation against Lotte Group’s businesses in China is increasingly seen here as a retaliation against the company’s decision to provide its golf club as a site to deploy the controversial US advanced missile defense system. Local media reported on Monday that Lotte appeared to be the sole foreign company under investigation in China, citing an anonymous industry source. “There are some companies which received a fire inspection or tax investigation but no co

Companies Dec. 5, 2016

The 53rd Trade Day commemoration event took place at the Coex Convention Center on Monday, with more than 1,400 attendants, to encourage business people and companies suffering grim exports condition this year.  The ceremony, co-hosted by the Korea International Trade Association and the Ministry of Trade, Industry and Energy, honored 760 businesses people, including Hyundai Oilbank Co. Chairman Moon Jong-bak, for their efforts to promote exports. A total of 1,209 companies received the

Industry Dec. 5, 2016

South Korea's foreign minister on Saturday called for China's "constructive" role in thoroughly implementing new UN sanctions on North Korea amid widespread concern about their effectiveness."It is crucial for member countries including China to play a constructive role in implementing important elements of the resolutions without leaving a loophole," Yun Byung-se told Yonhap News Agency at the Incheon International Airport. Foreign Minister Yun Byung-se (Yonhap)He was leaving for Vienna to atte

Foreign Affairs Dec. 3, 2016

 KBS 2TV series "Descendants of the Sun" received the top prize at the 21st Asian Television Awards (ATA), the network said Saturday. The mega hit drama was named Best Drama Series at the award ceremony that took place at the Suntec Convention Center in Singapore on Friday evening. The 16-episode drama was sensationally popular not only in Korea but also around Asia, especially in China. At one point, its viewership hit 38.8 percent on its home turf.  (KBS)Its popularity made Song Joong-ki and S

Dec. 3, 2016

Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, a news report said Saturday.Under the expected contract, valued at US$650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, according to TradeWins, a global shipping news service. This undated file photo, provided by Hyundai Heavy Industries Co., shows a container ship. (Yonh

Companies Dec. 3, 2016

South Korean idol groups Bangtan Boys (BTS), EXO and TWICE took top awards at the 2016 Mnet Asian Music Awards (MAMA) at AsiaWorld-Expo Arena in Hong Kong.K-pop boy band BTS of modest-sized Big Hit Entertainment won the Artist of the Year title, one of the event's three big honors, along with Album of the Year and Song of the Year awards, on Friday night. The band also snatched the best dance performance award for male group artists.   Bangtan Boys wins the Artist of the Year award at the 2016 M

Dec. 3, 2016

South Korea's parliament on Saturday approved a 400.5 trillion won (US$341.4 billion) budget bill for next year after the government and parties resolved their differences over a controversial free child care program a day earlier.The National Assembly passed the 2017 spending plan in a 221-30 vote, with 30 abstentions, about four hours after the Friday deadline set by the Constitution. The total approved by lawmakers is 200 billion smaller than proposed by the government.  South Korean Prime Mi

Politics Dec. 3, 2016