South Korea’s auto parts maker Hyundai Mobis unveiled its first driverless robotaxi in Russia in a joint development with Russian information technology company Yandex, it said Thursday. The two companies will test up to 100 robot taxis across the cities in Russia including Moscow by the year-end. The robotaxis were developed on the platform of Hyundai Motor’s eighth-generation Sonata that was launched earlier this year. In March, Hyundai Mobis and Yandex signed a memorandum of

　The total value of online shopping in South Korea hit a record high in May, government data showed, in the latest sign that a growing number of people are using computers and mobile devices to buy more things, from clothes to electronic goods.　Total online transactions reached 11.26 trillion won ($9.6 billion) in May, up 19.8 percent from a year earlier, according to preliminary data compiled by Statistics Korea.　The reading was the highest since January 2001, when the statistics office started

Hyundai Motor announced Thursday the launch of its smallest sport utility vehicle Venue, setting an annual sales target of 15,000 units in the future and 8,000 units within the year. The Venue completes the carmaker’s SUV lineup, in which it has invested heavily in recent years, defying market criticism of its reliance on midsized sedans. This latest addition to its SUV lineup takes its place alongside the flagship Palisade, the Santa Fe compact, the Tucson subcompact and the entry-level K

More than 2,000 athletes from around the world are flocking to Gwangju, 330 kilometers south of Seoul, to compete in the 2019 FINA World Aquatics Championships from Friday to July 28. While the athletes vie for medals, electronics and telecom companies will try to gain global attention during the biennial international event. As one of the main sponsors for the FINA championships, South Korea’s leading telco KT will showcased its latest fifth-generation technologies, ranging from advanced

Korean CEOs hesitant to speak, possibly because of language barrier

Korea’s neglect in basic technologies leaves major industries vulnerable

South Korean defense company Hanwha Systems said Wednesday that it would join the emerging mobility business by investing $25 million in a US startup that specializes in flying taxis. 　Tentatively named K4 Aeronautics, the US firm will work with Hanwha Systems to develop the necessary technology to produce personal aerial vehicles. The Korean company said it would increase its investment after acquiring a certain stake in K4 Aeronautics. 　According to Hanwha Systems, K4 Aeronautics has obtained

Samsung Electronics’ goal of becoming the top logic chip provider by 2030 might be seriously hampered by Japan’s restrictions on exports of hi-tech materials, if the two governments fail to ease the diplomatic tensions soon, according to industry sources Thursday. The tech giant’s April announcement to be the world’s No. 1 in the system-on-chip market beyond memory chips is the first official task of its de facto leader Vice Chairman Lee Jae-yong. However, the latest Japa

Japan Tobacco International Korea, the local unit of a global tobacco manufacturer, announced Thursday the upcoming release of its odor-reduced tobacco vapor product Ploom Tech.The heat-not-burn vapor product, set to release on Monday next week is said to be the first vapor product to utilize hybrid technology, in which tobacco leaves are indirectly heated through vapor.According to JTI Korea, the liquid cartridge, which does not contain nicotine, is first heated at a low temperature to emit vap

Korea to hurt most, Japan to feel heat, other global firms to also suffer from export curbs

An emergency meeting with President Moon Jae-in was arranged on Wednesday with chiefs of the country’s major businesses to seek short- and long-term solutions to the problem of import-dependent manufacturing chains here, but it also appeared to have placed a burden on firms caught in the diplomatic crossfire between South Korea and Japan. Some industry observers raised concerns that it could send the “wrong signal,” instigating Tokyo to take additional restrictive measures.At t

Many Japanese firms cancel promotion events due to negative public sentiment

Hong Kong’s home carrier on mission to turn city into tech hub

South Korea’s Hyundai Engineering & Construction said Wednesday that it had obtained a whopping 3.2 trillion won ($2.7 billion) deal to expand the production capacity of an offshore oil field owned by Saudi Arabia’s state-run oil company Saudi Aramco.The contract encompasses two oil development projects, Package 6 and Package 12, to be undertaken at the Marjan offshore oil field in northeastern Saudi Arabia. For Package 6, the company will expand the production capacity of an exi

South Korea’s second-largest full-service carrier Asiana Airlines said Wednesday it has newly added a flight route to Ulaanbaatar from Tuesday -- a lucrative route monopolized by Korean Air for almost three decades.  In February, the Transport Ministry gave Asiana approval to fly the highly sought-after route linking South Korea and Mongolia. The Incheon to Ulaanbaatar route is being operated with Airbus A330-300 aircraft, which can seat 290 passengers. Flights on the route will