Koreans work hard, but also play hard. Highways nationwide are packed with vehicles from the early morning every weekend in May, nicknamed the “month of family” with Children’s Day and Parents’ Day. “A surge in family trips is one of the key reasons the highways are jam-packed every weekend, regardless of the season,” an industry watcher said.With household income increasing and family-oriented lifestyle gaining mainstream, the leisure travel boom has swept Korea over the past few years. Camping

Mobility May 11, 2015

The neck-and-neck competition between BMW and Mercedes-Benz has been a buzzword in the foreign car community since the beginning of this year.In April, Mercedes-Benz retook the top position in monthly sales of foreign car brands, pushing BMW down to the second spot ― with its market share reaching 19.69 percent.  The results are based on the April survey of newly registered foreign cars by Korea Automobile Importers and Distributors Association, an indicator of foreign car sales.According to the

Mobility May 11, 2015

Mobility May 11, 2015

Pet businesses, including pet clinics, food and beauty shops, have continued double-digit growth for the past five years in Korea, and is projected to reach 1.8 trillion won ($1.65 billion) this year, according to industry sources. The market for pets, which hit 1 trillion won in 2000 for the first time is one of few industries achieving double-digit growth regardless of the economic conditions. “Considering the speed of growth, the pet businesses are forecast to triple to 6 trillion won by 2020

Industry May 10, 2015

A continued sports utility vehicle boom increased the total domestic sales of five Korean carmakers in April, according to industry data released by each company on Monday. The five locally operating car manufacturers are Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor.Their combined domestic sales grew 2.9 percent to 133,935 units last month from the same period a year ago, with overseas shipments shrinking 1.3 percent to 663,904 units, the data said. “Behind the

Mobility May 5, 2015

Korean Trade Minister Yoon Sang-jick (left) and his Vietnamese counterpart Vu Huy Hoang sign a bilateral free trade agreement in Hanoi, Vitenam, Tuesday. The trade pact is expected to take effect this year. (Yonhap)

May 5, 2015

ROME ― Italian carrier Alitalia will resume services to Korea after 18 years with its Incheon-Rome direct route to launch on June 4. Alitalia, a member of the SkyTeam airline alliance, will operate the new route three times a week with 250-seat A330 aircraft and offer three travel classes ― Magnifica (business class), Classica Plus (premium economy class) and Classica (economy class). “Under the vision to build the ‘new Alitalia,’ we have put a priority on the expansion of the Asian network (for

Industry May 4, 2015

DEAD SEA, Jordan ― The global airport industry celebrated Incheon International Airport’s unprecedented achievement in airport services at the 2015 airport service quality award ceremony hosted by Airports Council International here on Tuesday.ACI, the biggest association of the world’s airports, hosted the annual event, following its announcement of the 2014 ASQ survey results and 2015 award recipients in February. The Korean airport was the best performer in the 2014 ASQ survey, the only globa

Industry April 29, 2015

Volkswagen Group’s CEO Martin Winterkorn unveiled the 2018 vision for market leadership in the sector last year, proving its technology leadership in electric mobility.The Golf GTE, the plug-in hybrid version of the multi-award-winning Golf, is one of the best models to show how fast Volkswagen has pushed its e-mobility vision. The vehicle debuted at the Geneva Motor Show last year and is the third member of the Golf GT family, offering a sporty driving experience. The latest GT resembles its tw

Mobility April 26, 2015

Han Sung Motor, Mercedes-Benz’s largest official dealer in Korea, expects continued double-digit growth for the next five years, based on strong demand for premium cars. “We want to grow 67 percent in sales by 2020,” said Ulf Ausprung, chief executive of Han Sung Motor, at a press conference held to mark the firm’s 30-year anniversary at the Lotte Hotel, Seoul. Under the company’s vision, it expects to sell 30,000 units by 2020.“(By 2020), we are going to increase the workforce by 50 percent and

Mobility April 23, 2015

INCHEON ― Mohegan Sun, a casino and entertainment complex operator based in Uncasville, Connecticut, signed a memorandum of understanding with the Incheon International Airport Corp. on Tuesday for a resort development project on Yeongjongdo Island, Incheon, which is also home to the airport.Under the MOU, the company will invest in a two-phase development project in IIAC’s International Business Center II area, the airport operator said in a press release. The project, which will be completed b

Industry April 21, 2015

International property buyers, many of whom left Korea after the global financial crisis in 2008, are returning to Seoul in search of bargains on commercial office buildings, market sources said Friday.Morgan Stanley, a global investment bank, is just one investor that will reopen its real estate investment fund in Korea. The investment bank closed its property business in Korea in 2010 when it posted a significant loss from its $1 billion investment in the Seoul Square office building located a

Industry April 17, 2015

Despite the growing influence of Korean automotive battery makers like LG Chem, Japanese manufacturers dominated the sector last year, taking more than 70 percent market share, a local energy market research firm said. “A survey of batteries used for electric cars registered in 25 countries found that Japanese companies swept the market with a 71 percent share, followed by Korean makers with 17.3 percent,’’ said Yoo Shin-jae, vice president of SNE Research.The SNE conducted the research on three

Mobility April 16, 2015