Hyundai Motor‘s premium brand Genesis revealed the design for its new luxury midsize SUV GV70 on Thursday, which is scheduled to hit the market later this year. With the model’s name inspired by the initials of the brand Genesis and its “versatility,” the carmaker said the mid-size SUV was built with an elegant finish and a dynamic design -- the brand’s design philosophy known as “athletic elegance” -- which will differentiate itself from its rivals.

Mobility Oct. 29, 2020

INDUSTRY AWARDS/INVESTMENT ATTRACTION INCHEON FREE ECONOMIC ZONE AUTHORITY By Kim Jae Beom Director of Media & Culture Division I am delighted that the Incheon Free Economic Zone Authority (IFEZA) has been given the Industry Award for Investment Attraction from The Korea Herald this year. The award is significant for recognizing IFEZA’s efforts, which started as Korea’s first free economic zone in October 2003 and marked its 17th anniversary this year, to strengthen national

Industry Oct. 29, 2020

Major South Korean builder GS Engineering & Construction’s Xi has become the most preferred apartment brand among potential homebuyers prioritized by the government’s housing scheme this year, as of late September. GS E&C, which analyzed data from the Korea Appraisal Board, said Xi was the choice for over 350,000 out of 2.9 million “first-served” potential homebuyers who hold a housing subscription savings account and meet the requirements for a priority treatmen

Industry Oct. 28, 2020

Synergy Hill+Knowlton Strategies Korea has bagged three awards this year: the SABRE Awards, PR Awards Asia and the Asia Pacific Stevie Awards. Delivered by the Holmes Report, which publishes an annual international public relations report, the SABRE Awards are among the largest such awards programs. The firm won for North Asia PR Consultancies of the Year, both this year and last year. At PR Awards Asia, Synergy Hill+Knowlton Strategies Korea was named the Japan/Korea PR Consultancy of the yea

Industry Oct. 28, 2020

Cross-border e-commerce allows sellers to meet end users directly in the global market, quickly respond to consumers’ feedback and sell their products in more marketplaces, head of Amazon’s Global Selling Korea Lee Sung-han said Tuesday. He said more business owners should go online and branch out into other countries despite the COVID-19 crisis, as he touted Amazon’s support for such moves. “Crisis breeds opportunity. As noted by experts, instead of only focusing on

Industry Oct. 27, 2020

South Korean food maker Nongshim said Monday it has released a new corn-flavored snack, called “Oksusu kkang.” It marks the first new addition to the company’s signature “kkang” series in 47 years after “Goguma kkang,” its beloved sweet potato flavored snack. Taking the shape of a corn on the cob, the new crackers have been described as sweet and nutty with a crunchy texture. Nongshim said that the “kkang” crackers have stood the test of t

Consumer Oct. 26, 2020

Audio equipment has topped the overseas online shopping list among South Korean shoppers who recently purchased electronics. In tandem with such a rise, the number of complaints over the shopping experience has grown, a survey showed Friday. The Korea Consumer Agency said that its survey revealed audio equipment such as wireless earphones, headphones and speakers was the most popular electronics category to be ordered online from another country. PCs and PC peripherals came second. The survey

Consumer Oct. 23, 2020

Consumer goods company LG Household & Health Care posted 2.7 trillion won ($2.38 billion) in quarterly revenue, its best-ever earnings for the third-quarter period. While its revenue was up 5.4 percent compared to the same time last year, the company also posted a net profit of 231.7 billion won, up 6.7 percent from a year ago and an operating profit of 327.6 billion won, up 5.1 percent, according to its regulatory filing Thursday. Despite uncertainties stemming from the COVID-19 pandemic,

Consumer Oct. 22, 2020

Korea Ginseng Corp. said on Thursday that global sales of its red ginseng products have increased amid growing interest in strengthening the immune system following the COVID-19 pandemic. According to the company, CheongKwanJang, its red ginseng brand, saw online sales increase 41 percent year-on-year during the first six months this year in China, thanks in part to its online flagship stores on platforms such as Tmall and JD.com. Online sales in the US and Japan also grew after the products b

Consumer Oct. 22, 2020

SK Engineering & Construction said Wednesday it has teamed up with US platform-as-a-service company Veea to develop and operate a Smart Safety Platform, a service designed to protect staff on construction sites. The safety management system collects and analyzes big data with regards to industrial disasters and sends information to supervisors and construction workers via portable devices, the construction company said. The move will see SK E&C bypass technical difficulties surrounding

Industry Oct. 21, 2020

SK Engineering & Construction opened a new fuel cell manufacturing plant in the city of Gumi, North Gyeongsang Province, on Tuesday. The facility for the joint venture with US fuel cell company Bloom Energy 2020, known as Bloom SK Fuel Cell, comes as part of the company’s yearslong efforts to locally produce solid oxide fuel cells. The annual generating capacity of the factory is projected at 50 megawatts in 2021 with plans to grow to up to 400 megawatts by 2027. By Yim Hyun-su (hyu

Industry Oct. 20, 2020

Special-purpose company Incheon Global City has announced plans for the second phase of its project to build an apartment block for South Koreans based in the US. The plan will see the company sign a contract with Posco Engineering & Construction later this month and see construction begin in December, with its completion scheduled for April 2025. Those eligible for the newly constructed apartment subscription will be allotted apartments through a draw in November before signing deals the

Industry Oct. 20, 2020

Oriental Brewery has released a series of goods for beer brands OB Lager, Stella Artois and Budweiser to drive up sales, as interest in drinking-related items grows amid the current pandemic. The brewing company launched an online store dedicated to goods inspired by its long-running mascot Lala Bear last month, including a glass set, a coaster set and a tube-type ice bucket. Stella, a Belgian beer sold by OB, has released a camphor cutting board that can also be used as a plate, while Budweis

Consumer Oct. 20, 2020

Pulmuone said on Monday it has launched “Kimchi Relish,” a new type of kimchi that “reinterprets” the spicy Korean side dish, in South Korea and the US. Made with plant-based ingredients including tomatoes and Sriracha sauce, the chopped vegan kimchi comes in two flavors, Mild and Spicy, and is recommended to be had with dishes such as pasta, salads, and tacos. Pulmuone said the new product is expected to appeal to millennial and gen-Z consumers, among which there is a

Consumer Oct. 19, 2020

Samyang Foods began construction on a new manufacturing plant in the city of Miryang in South Gyeongsang Province on Monday which the company says will serve as its focal point for exports. A budget of 200 billion won ($175 million) has been set aside for the five-story factory with a basement. And with a total floor space of 69,801 square meters and boasting automated production lines for ramen noodles and soup powder, the project is expected to be completed by early 2022. “Many compani

Industry Oct. 19, 2020