Hyundai Motor Group said Thursday its affiliate Mocean Lab has joined hands with the country’s car rental business association to develop a mobility service ecosystem in the rental car market. The mobility service venture set up by the parent group of Hyundai Motor and Kia Motors has signed a memorandum of understanding with the Korea Rental Car Business Association for collaboration in the future mobility business. The association is the country’s largest group of car rent

　The demand for luxury cars in South Korea increased sharply in 2019 from a year prior, data showed, despite the overall decrease in sales of imported cars here.　Sales of imported luxury cars with price tags of 300 million won ($258,000) or higher reached 360 units over the January-November period, posting threefold growth on-year, according to data compiled by the Korea Automobile Importers & Distributors Association. (Yonhap)

While the market was anticipating another face-off between Samsung Electronics and LG Electronics at the upcoming Consumer Electronics Show 2020, it now seems highly unlikely.According to industry sources, the Consumer Technology Association, which organizes the world’s largest annual tech event in Las Vegas, has specific terms in the exhibit space contract that prevent companies from giving presentations on products of rival firms, as well as from displaying offensive and inappropriate co

South Korean mobile carriers SK Telecom and LG Uplus are ramping up efforts to find new business opportunities at the upcoming Consumer Electronics Show 2020 that kicks off in Las Vegas on Jan. 7.Their participation in the world’s largest annual tech event is largely in line with their parent groups’ involvement in the show. Yet, the growing importance of 5G network in the electronics and smart mobility sectors is also an important factor, according to industry sources.The capabiliti

Despite seeing a drop in revenue this year, South Korean companies increased their investment for research and development by nearly 4 trillion won combined, data by CEO Score showed this week.Internet and IT companies were among the most active in research investments, as were pharmaceutical firms.(khnews@heraldcorp.com)

University students in South Korea still view tech giant Samsung Electronics as the most desirable future employer, a local survey showed Thursday. According to the survey of 473 male students and 586 female students conducted by online job portal JobKorea, 10.6 percent chose Samsung Electronics as the company where they would most like to work. The next most popular answer was Korean Air (7.6 percent), followed by food manufacturer CJ CheilJedang (6.7 percent) and the Korea Electric P

Hyundai Rotem Co., a South Korean train and defense equipment maker, said Thursday that it has clinched 243.3 billion won ($209.5 million) worth of orders to build combat engineering vehicles and tanks.Hyundai Rotem is set to deliver combat engineering vehicles and K1E1, an enhanced version of K1 tanks, to the Defense Acquisition Program Administration, South Korea's arms procurement agency, by 2020 and 2022, respectively. Hyundai Rotem did not give details on the number of combat engineering ve

South Korea's finance ministry said Thursday it will allow arrival duty-free shops to sell cigarettes from March, in a move to promote businesses of arrival shops. The nation's first on-arrival duty-free shops opened at Incheon International Airport, the country's main gateway, in May, but the shops had been banned from selling tobacco. After revising an ordinance on customs regulations, one person will be allowed to buy one 10-pack carton of cigarettes at arrival duty-free shops from March next

South Korea, China and Japan on Thursday agreed to resume their joint research program to resolve shared environment issues, such as fine dust, Seoul's science ministry said Thursday.Top science officials from the three neighboring countries gathered in Seoul to discuss pending issues, according to the Ministry of Science and ICT.The trilateral meeting marks the first of its kind since 2012, when science ministers from the three countries gathered. According to the ministry, the three countries

Hyundai Electric & Energy Systems said Thursday it has appointed the former chief of Korea Hydro & Nuclear Power as president and CEO, the first outsider to take the top job.The Korean electrical power equipment provider said new CEO Cho Seok was appointed to replace former chief Chung Myung-lim, who resigned two days ago. The company is an affiliate of Hyundai Heavy Industries Group. Cho, 62, began his career at the Ministry of Knowledge Economy in 1981 after graduating from Seoul

CJ Logistics Corp., a major South Korean logistics firm, said Thursday it completed the relocation of historical structures in Turkey to prevent them from potentially being submerged by a dam project.The Hasankeyf project, launched in 2017, involved transporting 23 units of ancient structures aged well beyond 500 years from Hasankeyf in southern Turkey without disassembling them to a safer place where they aren't at risk of being submerged, according to CJ Logistics. The town is well known for i

South Korea’s large businesses increased investment in research and development by around 11 percent throughout the year despite declines in sales, according to data from a local market tracker released Wednesday. The aggregate investments of 211 major companies stood at 39.2 trillion won ($33.7 billion) as of the third quarter, up 11.3 percent from the 35.2 percent recorded during the same period last year, showed a report from corporate researcher CEO Score. The 211 firms are among the c

LG Electronics said Wednesday it will debut its connected car platform -- built in collaboration with multiple global tech companies -- for the first time at the Consumer Electronics Show 2020 that kicks off in Las Vegas on Jan.7. The South Korean tech giant is going to demonstrate the latest version of Linux-based car infotainment platform webOS Auto that it has been working on with Qualcomm, Microsoft, Qt and Luxoft. The company will exhibit a connected car model co-designed by automotive seat

Hyundai Engineering & Construction Co. said Wednesday it has clinched some 800 billion won ($687 million) worth of deals to build a road and a hotel in Singapore and Vietnam, respectively.The deal with Singapore's Land Transport Authority, worth $435 million, calls for Hyundai E&C to build a 4.5-kilometer elevated highway in Sembawang in the northern part of Singapore. Hyundai E&C expects the construction of the road to take 84 months. Separately, Hyundai E&C said it has won a co

South Korea’s largest retailer E-mart said Wednesday that it will open its second No Brand store in the Philippines this week.  No Brand is E-mart’s private brand promoting low-priced items ranging from food to daily necessities. The outlet is slated to open Friday on a 353 square-meters area in Robinsons Galleria South, a commercial establishment located in San Pedro City, Laguna province.The new branch plans to sell some 630 No Brand items, in addition to some 150 local items.