Lexus Korea on Tuesday rolled out its new flagship LC Coupe in Seoul, featuring the company’s latest technologies and automobile platform.LC 500h is Lexus’s new hybrid model that has adopted its latest Multi Stage Hybrid System, which offers the vehicle 359 horsepower and a 10-speed transmission. The system allows the hybrid vehicle to reach 100 kilometers per hour in under five seconds as well, the company said. Lexus Korea CEO Akihisa Yoshida speaks at an event unveiling LC Coup at the Toyota

Mobility July 4, 2017

Coffee-flavored milk products may not always contain less caffeine than coffee products, a health report by Seoul City showed Monday.The Seoul Metropolitan Government’s Research Institute of Public Health and Environment looked into 106 drinks containing caffeine and found that five products, including coffee-flavored milk products, had caffeine content that went beyond the recommended daily allowance for youths, which is 125 milligrams per serving.  (Yonhap)Of the five products with caffeine co

Industry July 3, 2017

South Korea‘s state-run gas giant Korea Gas signed a series of agreements with US energy companies to secure more natural gas for the country, as well as to find more partnerships and investment opportunities in the US market. Korea Gas signed four separate memorandum of understandings with US companies including Exxon Mobil, Energy Transfer, Alaska Gasline Development Corp., Sempra Energy and Woodside Petroleum. “Kogas plans to explore feasibilities of each pact and decide on future investments

Industry June 30, 2017

Homeplus has become mired in a controversy, with its contracted maintenance firm claiming the retailer pressured them to purchase vouchers during holiday seasons.Upon receiving the case, the Fair Trade Commission viewed that while Homeplus’ alleged action did not have a forced nature, the contracted company had reasons to feel pressured. It sent the company a warning, a mild form of discipline. (Yonhap)According to the industry, the maintenance company that had been contracted to clean, maintain

Industry June 29, 2017

VORNADO Korea, a domestic marketing company that has imported air circulators from US-based VORNADO since 2007, has found its footing in the South Korean market.VORNADO, which started its business in the mid-1940 in Kansas, is a US-based company that manufactures household fans and appliances related to air circulation. It prides itself on its signature energy efficient Vortex Technology, which allows all the air in a room to circulate by using a special airflow. A VORNADO VFAN Vintage Air Circu

Companies June 29, 2017

GS Group, a South Korean energy and engineering giant, has laid out plans to reinforce the competitiveness of its major businesses, discover unique growth engines and expand overseas projects.“Since its launch, GS has consistently pushed toward overcoming the limits of the domestic market to expand its business territory and adopt global strategies to create more jobs,” said GS Group Chairman Huh Chang-soo. GS Group has been solidifying its foothold as a representative exporter, well-illustrated

Industry June 28, 2017

South Korea‘s state-run utility provider Korea Electric Power Corporation said Tuesday that it will begin operating its 1,560 electric vehicle charging stations in the nation starting on July 3.Of the total 1,560 EV charging stations, 569 are public charging stations that are available at Kepco’s operations center and public parking spaces, while the rest 989 are stations that are installed at apartment complexes, the company said.  (Yonhap)Kepco, which is currently the nation‘s largest provider

Mobility June 27, 2017

South Korea’s state-run Korea Gas said Monday that it will start importing US shale gas in July.Following a deal secured in 2012 with the Texas-based Cheniere to bring in shale gas, Korea has become the first nation in Asia to import US shale gas. From this year, Kogas will bring in 2.8 million tons of US shale gas annually for the next 20 years. Throughout 2017, the company will import some 1.5 million tons, which will allow Korea’s annual import shipments of natural gas to reach 36 million ton

Industry June 26, 2017

GS Caltex Chairman Huh Jin-soo hosted a musical concert in Seoul on Monday to celebrate the company’s 50th anniversary with its longtime clients and business partners, the firm said Wednesday.“GS Caltex has grown along with customers for the past 50 years,” he said at the concert, which featured soprano Shin Young-ok and samulnori -- Korean traditional percussion -- musician Jang Sa-ik.GS Caltex Chairman Huh Jin-soo (GS Caltex)“(The company) will provide stable and sustainable value and will rem

Companies June 21, 2017

Aparna Balakumar, a 21-year-old Australian student visiting South Korea, says she was a little nervous about coming to the country for the first time, fearing that her food options might be limited as a vegetarian. But after weeks of hunting in Seoul, she learned there are a significant number of vegetarian communities here and an increasing number of places to go that are vegetarian-friendly, with many of them located in districts frequented by foreigners such as Itaewon.“Plant in Itaewon, for

Industry June 16, 2017

South Korea’s oil refining businesses set their dates for half-year interim dividends on the back of increasing first-half profitability, especially in petrochemicals and lubricants. The latest refiner to join the trend was SK Innovation, which on Friday set June 30 as its record date for the interim dividends, meaning holders of shares on that date will be eligible for the payment.  (Yonhap)The company’s board of directors still have to decide on whether a payment will be made, based on second-

Industry June 16, 2017

South Korea’s bottled water market is expected to surpass 1 trillion won ($890 million) by 2020 on the back of rising popularity among single-person households and the use of online shopping platforms, according to a local market research firm. Between 2010 and 2016, the bottled water market posted average annual growth of 6.7 percent, while the average growth of overall nonalcoholic beverages was relatively lower at 4.7 percent during the same period, according to a report from Taurus Investmen

Industry June 14, 2017

LG Display retained the world’s highest shipments of large panels for 30 consecutive quarters, a global market research company said Tuesday.LG Display, the world‘s largest liquid crystal display panel manufacturer, was first ranked No. 1 in the global large display panel market in the fourth quarter of 2009 and has maintained its position since then. In the first quarter this year, LG Display shipped 35.42 million units, which accounted for 21.4 percent of the global shipment of 9-inch or large

Technology June 13, 2017

Hyundai Motor Group’s construction of its new headquarters Global Business Center in Samsung-dong, southern Seoul, is to be delayed after the Seoul Metropolitan Government rejected the company‘s first draft of an environmental impact assessment Tuesday. The government said that it would redeliberate the draft when the company revises it.“Hyundai Motor will conduct a thorough revising process to meet the government‘s expectations. We will also try to resubmit its revised draft as soon as possible

Industry June 13, 2017

South Korean shipbuilders won the largest amount of new orders for the second straight month in May, according to data from a global shipping information company Monday. According to the UK-based Clarkson Research Service, Korean shipbuilding companies in May secured orders to build a total of 21 units worth a combined 790,000 compensated gross tons, a measurement to gauge the amount of work that goes into constructing a vessel.New orders placed with Korean shipbuilders last month accounted for

Industry June 12, 2017