In celebrating its 130 years of leading the automotive industry with innovative technologies, Mercedes-Benz Korea is working to expand its contribution to pass on its technology prowess and foster young talents.Early last month, Mercedes-Benz Korea signed a memorandum of understanding to support the launch of the Ausbildung program in Korea, in cooperation with the Korean-Germany Chamber of Commerce and Industry. Students attend an Automotive Mechatronic Traineeship program offered by Mercedes-B

Mobility April 16, 2017

Hyundai Motor Co. sold more than 20,000 units of its Creta crossover utility vehicle overseas in March on strong local demand for subcompact CUVs, the country's top carmaker said Sunday.  (Yonhap)Hyundai currently produces the Creta subcompact front-wheel-drive crossover at its plants in India, Russia and Brazil for local demand and exports. Total sales hit 22,194 in the month, company data showed. The Creta is powered by either a 1.4-liter gasoline or a 1.6-liter gasoline engine, he said, addin

Industry April 16, 2017

South Korean cosmetics makers are heading for dim first-quarter earnings, caused by China's boycott of products made by local companies in the wake of a diplomatic standoff over the deployment of a US missile defense system, analysts said Sunday.  (Yonhap)Industry leader AmorePacific Corp. is forecast to have made 315.1 billion won ($276.5 million) in operating profit for the January-March period, down 6.7 percent from a year earlier, according to a report by Samsung Securities Co. Its sales are

Industry April 16, 2017

CLINICAL EXPRESS -- TNT Express Korea employees explain “TNT Clinical Express” to an audience at the Bio Korea International Convention 2017, at Coex in Seoul, Wednesday. The TNT Clinical Express is TNT‘s special handling service that began in 2002 for temperature-sensitive clinical samples and supplies. (TNT Express Korea)

Industry April 12, 2017

Celltrion, a South Korean pharmaceutical company developing biosimilars, submitted a request to the Japanese Ministry of Health, Labor and Welfare for approval to sell Herzuma, the company spokesperson said Wednesday. (Park Hyun-koo/The Korea Herald)Herzuma, also known as CT-P6, references the blockbuster breast cancer drug Herceptin by Genentech, and is used for treatment of metastatic breast cancer and early stage breast cancer. 　Partnering with Japanese pharma firm Nippon Kayaku, Celltrion is

Industry April 12, 2017

An average of nearly 10 bars closed per day last year, reflecting an industrywide downturn, the National Tax Service said Tuesday.As of January, 3,600 bars shut down their operations over the last year. South Korea had 55,761 bars registered as of the end of that month, a 6.1 percent decrease from 59,361 a year earlier, the tax agency said.　 (Yonhap)The number of bars had surpassed 60,000 in December 2015, but that figure has continued to decline since.Of the 17 cities and provinces, Ulsan showe

Industry April 11, 2017

South Korea’s local currency fell 0.55 percent to close at 1142.2 won against the US dollar Monday, amid growing security tension on the Korean Peninsula.The benchmark Korea Composite Stock Price Index also shed 18.41 points, or 0.86 percent, to close at 2,133.32 with key blue chip losses. LG Electronics moved down 4.23 percent. Major chipmaker SK hynix shed 1.61 percent to close at 49,000 won.North Korea launched an extended range Scud on Tuesday, which US officials said exploded in the a

Market April 10, 2017

About 30 percent of domestic car owners would consider foreign cars for their next choice, a study showed Friday.According to SK Encar, a leading used car dealer here, about 30 percent of motorists owning cars manufactured in Korea said they would shift to imported one if buying a car within in one year. The rest said they would choose another locally made vehicle next time.The survey asked 2,604 car owners, 86 percent of which owned domestic cars, the company said. Meanwhile, 83 percent of impo

Industry April 9, 2017

South Korean stocks finished slightly lower Friday, as investors took to the sidelines amid a series of events, such as the US-China summit, analysts said. The Korean won fell against the US dollar.(Yonhap)The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.02 points, or 0.05 percent, to close at 2,151.73. Trade volume was slim at 389 million shares worth 3.84 trillion won ($3.38 billion), with gainers outnumbering losers 452 to 326.The local stock market opened a tad lower and contin

April 7, 2017

LG Electronics Inc. said Friday its first-quarter operating profit is estimated at 922 billion won ($812.3 million), a market forecast-beating figure, apparently helped by robust sales of premium electronics coupled with reduced losses from the smartphone business.(Yonhap)The latest figure marks an 82.4 percent jump from 505.1 billion won posted in the January-March period of 2016, South Korea's No. 2 tech giant said in a regulatory filing.It also turned black from an operating loss of 35.2 bill

Industry April 7, 2017

Holding their own local produce, farmers from different regions pose at the 2017 Shinsegae Farmers Market on Thursday. Shinsegae’s farmers market project aims to directly connect local produce to consumers. The event was held at Shinsegae Department Store’s main branch in Jung district, Seoul. (Yonhap)

Industry April 6, 2017

The operating profits of major semiconductor companies in South Korea are expected to have increased almost 60 percent in the January-March period.Securities firm FnGuide released the forecast for an on-year increase Thursday, which would take profits to 11.7 trillion won ($10.3 billion). (Yonhap)Samsung Electronics and SK hynix, South Korea’s two largest semiconductor manufacturers, are reported to post stronger profits during the first quarter as demands grow worldwide.Samsung Electronics, the

Industry April 6, 2017

Employees working at the affiliates of South Korea’s top 10 business groups stay for an average of 10 years, as of last year, data showed Wednesday.Of the total 88 surveyed affiliates, the one with the longest average working years was Kia Motors at 20.3 years, according to the Financial Supervisory Service. (Yonhap)By group, Hyundai Heavy Industries’ employees worked the longest at 15.4 years. Hyundai Motor Group ranked second with 12.7 years and Hanwha followed with 12 years. The average tenur

Industry April 5, 2017

The combined net profit of listed companies in South Korea is expected to top 120 trillion won ($107 billion) this year, according to securities firm Mirae Asset Daewoo. (Yonhap)“The combined net profit of 246 listed firms is expected to reach 126.6 trillion won this year,” Yoo Myung-gan, an analyst at Mirae Asset Daewoo, said Tuesday. He added that the steel, telecommunications and semiconductors industries are predicted to post stronger profits, whereas sectors dealing with capital goods, trad

Industry April 4, 2017

Hyundai Motor‘s flagship G90 sedan was named the most luxurious sedan in Saudi Arabia for 2017, the carmaker said Monday.(Hyundai Motor)Hyundai’s sedan, also known as the EQ900 in South Korea, topped the luxury segment listed by Okaz, a Saudi Arabian daily newspaper based in Jeddah, it added. Hyundai began selling the flagship model in the Middle East country and others in October. The South Korean carmaker said it hopes to take the opportunity to increase sales of the Genesis Sedan in oil-rich

Industry April 3, 2017