Sales of Korean car makers in Saudi Arabia may pick up after the country lifted a ban on women driving, according to a local trade agency Monday. Saudi Arabia decided last month that it would start allowing women who are in their 30s or older to drive from June 2018, partially ending the controversial regulation. (Yonhap)According to the Korea Trade Investment Promotion Agency, the rule change will create an increase in auto demands as women will emerge as potential drivers. Of the total 10 mill

Mobility Oct. 23, 2017

South Korean electronics giant LG Electronics is moving to increase its investments in vehicle components and energy businesses to equip itself with future growth engines.LG Electronics first launched its vehicle components division in July 2013 and it has posted sales growth for nine consecutive quarters. Starting last year, the vehicle components unit has been supplying a total of 11 auto parts and systems, including electric drive motors, power invertor modules, battery cells and high power d

Technology Sept. 25, 2017

Korea’s state-led water company K-water has wrapped up its co-hosting of the first Asia International Water Week at Hwabaek International Convention Center in Gyeongju, North Gyeongsang Province.Along with the Asia Water Council, K-water hosted the triennial water industry event from Wednesday to Saturday to devise solutions for water issues around the globe, as well as to foster the industry in Asia. A total of some 15,000 officials from the government and international organizations across 69

Industry Sept. 24, 2017

Hyundai Motor has received a total of 2,100 orders for its newly launched Genesis G70 sports sedan in the first day of sales on Wednesday, the company said Thursday.This is around 42 percent of this year’s sales target of 5,000 units, and threefold the average monthly sales of other European rivals last year in premium vehicle market. Hyundai Motor's Genesis G70 (Hyundai Motor)Following the launch, Hyundai Motor aims to sell 15,000 units next year here in Korea.Hyundai Motor as well plans to lau

Mobility Sept. 21, 2017

S-Oil CEO Othman Al-Ghamdi on Wednesday held the company‘s annual charity event to support the underprivileged on the occasion of Chuseok, the company said Wednesday.The CEO and some 100 S-Oil employees made Songpyeon, Korea’s traditional half moon-shaped rice cake served during Chuseok holiday season, and offered them along with groceries and daily necessities to 800 low-income households in the Mapo area, the company said. The country celebrates Chuseok on Oct. 4 this year.  S-Oil CEO Othman A

Industry Sept. 20, 2017

LG Chem and Proterra, a California-based heavy-duty electric transportation manufacturer, announced on Wednesday the co-development of new battery cells. Proterra reported that its zero-emission bus model Catalyst E2 has succeeded traveling 1,772 kilometers at low speed on a single charge of batteries provided by LG Chem. The result is 83 percent further than the record of 970 km that Proterra achieved in a long-range test a year ago, it said.  Proterra‘s Catalyst E2 (Proterra)With passengers on

Mobility Sept. 20, 2017

Diageo Korea said Tuesday it would offer specially packaged versions of its whisky brands in celebration of the upcoming Chuseok holiday.The company’s 20 kinds of whisky including Johnnie Walker, Windsor and Bell will be gift packaged and some will come with promotional cups. The recently relaunched Johnnie Walker Aged 18 Years will also be introduced to Korea for the first time. The 18-year-old whisky is priced at 129,000 won ($114) per 750-mililiter bottle. (Diageo Korea)There will also be a h

Industry Sept. 19, 2017

South Korea’s imports of avocados have dramatically increased in recent years, riding on the surging popularity of the fruit for its versatility in cooking and health benefits, industry data showed Tuesday.According to data compiled by the Korea Customs Service, the amount of avocados imported last year reached 2,915 tons, a sixfold surge compared to 457 tons in 2010.  (123RF)The figure is expected to reach almost 5,000 tons by the end this year, the data also showed. Korean retail giant Lotte M

Industry Sept. 19, 2017

The sales of South Korea’s two largest automakers, Hyundai Motor and Kia Motors, continued to plunge in China last month amid growing competition in the local market, as well as the prolonged political tension between China and South Korea over the deployment of a US missile defense system.Hyundai Motor and its sister company Kia Motors last month sold a total 76,010 vehicles in China, compared to 124,116 units in August last year, according to the companies’ data. Hyundai Motor’s sales in Augus

Mobility Sept. 17, 2017

While Korean carmakers are set to attract customers with small sport utility vehicles of various colors, Renault Samsung Motors’ QM3 has increasingly been standing out as the front-runner in terms of color options offered. Since the launch of the model, the automaker has been providing different color options for the roof and body of the vehicle, as well as leather seat covers that are also available in orange, blue and black. Renault Samsung Motor’s compact sport utility vehicle QM3 (Renault Sa

Mobility Sept. 13, 2017

Samsung SDI introduced its multipurpose batteries at the Frankfurt Motor Show 2017 held in Germany, the company said Tuesday. The newly invented battery modules provide extended driving ranges for electric vehicles.  (Samsung SDI)A premium electric vehicle with 20 modules can drive up to 700 kilometers, while an entry level electric vehicle with 10 to 12 modules can drive up to some 300 km, the company said. Automakers can change the number of modules to be installed in different car models. Sam

Technology Sept. 12, 2017

Starbucks Coffee Korea’s operating profit is expected to surpass 100 billion won ($88.6 million) this year if it keeps up its sales posted in the first half this year. The US coffee giant’s unit in Korea posted 52.8 billion won of operating profit and 593.5 billion won of sales in the first half of 2017, the company said.If this continues, the company’s operating profit is likely to surpass 100 billion won by the end of the year, as coffee shops usually perform better in the second half, due par

Industry Sept. 12, 2017

American Airlines appointed Jang Eun-seok to head its business unit in Korea, the company said Monday. The US air carrier has operated its local business office here since 2013, starting with its nonstop flight between Incheon Airport and Dallas-Fort Worth International Airport in the US. Early this year, the company also started to fly new Boeing 787-9 aircrafts for its routes to Korea.“It is my great pleasure to lead the local unit of the world’s biggest airline company, said Jang. “I will try

Industry Sept. 11, 2017

SK Innovation has introduced the third version of its Big Picture of Innovation campaign, it said Friday.Big Picture of Innovation is SK Innovation’s public relations campaign that comes in a series of visual artworks that are featured by renowned artists and new art techniques. SK Innovation’s latest campaign features cymatics, the art of visualizing audio frequencies of music. Local performance group Silo Lab carried out the artwork, the company said. This is the first time for a Korean compan

Industry Sept. 10, 2017

Vying for the bigger pie in the lucrative and fast-growing anti-aging cosmetics market, Korean companies are spewing out reinvented products and brands using more natural ingredients and less chemicals. According to data compiled by the Ministry of Food and Drug Safety, the production volume of functional cosmetics products by Korean cosmetics companies in 2016 increased by 15.3 percent on-year to reach 4.4 trillion won ($3.9 billion). Of the total functional cosmetics production, the production

Industry Sept. 8, 2017