Hyundai Motor has opened a multimedia showroom in Shanghai to promote its hydrogen technology for the next two weeks, the company said Monday.Named Hyundai Hydrogen World, the showroom will display the South Korean automaker’s technologies in fuel-cell electric vehicles powered by hydrogen and its vision for the hydrogen economy, officials said. The 406-square-meter space has five zones to demonstrate air purification function developed for its latest FCEV Nexo, and to visualize the concep

SK Group Chairman Chey Tae-won on Monday called for businesses to generate social value through technological innovation at a state-sponsored expo in the western Chinese city of Chongqing.During his opening speech at the Smart China Expo 2019, Chey said technological innovation would not only enhance the sustainability of companies but also maximize their capabilities in creating social value to help communities solve problems.“The theme of the expo, ‘Smart Technology: Empowering Eco

South Korean builder Daewoo Engineering & Construction has joined hands with Vietnam’s state-run constructor CC1 for partnership, the firm said Monday. The two firms signed a memorandum of understanding Friday at the Daewoo E&C headquarters in Seoul, agreeing to exchange information on bidding and projects in Vietnam.  Based on its experience and expertise in domestic and overseas markets, Daewoo E&C said it would seek new business opportunities in Vietnam in the fiel

Korean health and beauty store operator Olive Young said Monday that it has partnered with Chinese mobile payment platform WeChat Pay to introduce it as a payment option here, as the number of Chinese tourists looking to pay via mobile apps grows.According to the company, the number of Chinese tourists who paid via mobile applications from July 26 to Aug. 25 at its flagship store located in Myeong-dong, Seoul, increased by 45 percent compared to a year prior. The amount spent by Chinese vis

　South Korean exports of information and communications technology products dropped for the ninth straight month in July on sluggish demand for chips, mobile phones and displays, data showed.　Outbound shipments totaled $14.51 billion last month, down a whopping 21.8 percent from a year ago, according to the data compiled by the Ministry of Science and ICT.　Korea’s ICT exports have been on the decline since November last year, with overseas shipments plunging 22.5 percent in June. (Yonhap)

The name Korando, SsangYong Motor’s signature sport utility brand and the oldest such brand in Korea, has represented power, firmness and masculinity for the last 37 years. The all-new Korando that returned to the market early this year after an eight-year hiatus, however, flips the common image of the SUV on its head. It is stylish and sophisticated, yet affordable. The Korando gasoline model, launched six months after the 2.0-liter diesel version, showed no major flaws throughout the med

GS Group Chairman Huh Chang-soo called for preemptive measures to respond to the sluggish economy at a strategy meeting held on Saturday and Sunday. Under the theme “Strategies for Growth in Low-Growth Era,” the meeting was attended by some 60 CEOs and managers of group affiliates, the firm said.“I hope this conference will be the first step in providing insights amid the changes and uncertainties we are facing in the low-growth era,” Huh remarked.At the two-day meeting,

South Korea’s food and beverage giant Binggrae has multiple signature brands under its belt, and the underlying theme of most of them is that the firm stays true to its original brand image. Most prominent of them is the market’s No. 1 processed milk “Banana Flavored Milk,” with its unique taste and bottle shape.Since its launch in 1974, the beverage has been considered a popular substitute for milk, and thereby responsible for 80 percent of the market specific to banana-

South Korean steelmaker Posco announced Sunday the launch of its second #SteelSaveEarth campaign starting Aug. 28 to raise awareness on the detrimental effects of single-use plastic waste on the environment.The campaign was first launched in April to encourage the use of reusable and recyclable steel products as an alternative to plastic. The upcoming campaign will focus on the harm of plastic waste in the marine environment, the company said.Posco’s Clean Ocean Volunteer Group, consisting

Company’s internet bank unlikely to be set up in the near future due to regulations

Kia Motors said Sunday its subcompact crossover Soul EV has been picked as the most competitive compact-size electric vehicle by German automotive magazine Auto Zeitung, beating rivals including BMW’s i3s and Nissan’s Leaf e+.  Soul EV received the highest marks in most evaluation categories including body, driving comfort, powertrain and environment/cost, except in driving dynamics, winning 2,989 out of 5,000 points. BMW’s i3s and Nissan’s Leaf e+ received 2,894 poi

Lotte Chemical, a major South Korean chemical company, is said to have submitted an initial bid to buy Hitachi Chemical Co., the chemical unit of Japan's Hitachi. An official at Lotte Chemical said the company reviewed the feasibility of the bid but declined to confirm whether it submitted the bid for Hitachi Chemical.Hitachi has planned to sell the chemical unit since early this year, and the initial bids for Hitachi Chemical closed on Aug. 9.Meanwhile, Lotte Chemical has said it will merge wit

A Seoul court on Friday ordered Volkswagen, Audi and their Korean unit to compensate local consumers for mental distress caused by their emission manipulation scheme and improper recalls.The Seoul Central District Court issued a ruling on a lawsuit filed by some Korean owners of Audi and Volkswagen cars fitted with the so-called defeat devices designed to cheat emissions tests. The court awarded 1 million won ($825) in damages to each of the plaintiffs over their emotional anguish, but dismissed

British American Tobacco’s latest music video-like YouTube commercial has prompted Korean health authorities to discuss new legislature to restrict advertisements of e-cigarette devices. The ad “Glo Sens X Loopy&nafla” features popular musicians and has amassed close to 105,000 views as of Friday 11:30 a.m., 11 days after its release.Korean health authorities strictly restrict direct advertisements of tobacco products. However, Glo Sens is not classified as tobacco but as a

SK Group Chairman Chey Tae-won called for strengthening the conglomerate’s competitiveness in innovative technologies such as artificial intelligence, the group said in a statement Friday.“If we do not minimize trade cost and utilize innovative technology to effectively deliver the value customers are looking for, we cannot secure the future of SK,” he said as he wrapped up four-day in-house forum held in Icheon, Gyeonggi Province, on Thursday evening. “We need to redefin