South Korea's antitrust watchdog said Tuesday that it has fined Toyota Motor Korea Co. 817 million won ($729,000) for deceptive advertising of its RAV4 sport utility vehicle.Toyota Motor Korea advertised that its RAV4 obtained a top safety pick in five test categories, including the driver's side small overlap front and roof strength, from the U.S. Insurance Institute for Highway Safety in 2015. (Yonhap)In 2016, the RAV4 earned the Top Safety Pick Plus rating from the independent nonprofit organ

South Korea's industry minister vowed to expand ties with the United Arab Emirates in the energy segment and seek new opportunities based on their cooperation in the Barakah nuclear plant project, the government said Tuesday.Sung Yun-mo returned home Monday from his four-day trip to the UAE as a follow-up of President Moon Jae-in's visit in March last year and to check progress in the two countries' cooperation in the energy industry, the Ministry of Trade, Industry and Energy said.  (Yonhap)The

South Korean tech giants LG Electronics Inc. and Samsung Electronics Co. have made the list of top 2018 brands in a British consumer survey, industry sources said Tuesday.The LG organic light-emitting diode TV was named the best brand of 2018 among 170 products made by Samsung and other global TV makers, according to the survey by Which? magazine published by Britain's Consumers' Association.  (Yonhap)Samsung was named the best brand in the smartphone and tablet PC categories, outperforming arch

The global smartphone market is expected to contract further in 2019 due to weaker demand and other unfavorable factors, a report said Tuesday.Global smartphone production is expected to reach 1.41 billion units this year, down 3.3 percent from the previous year, according to the report from TrendForce. (Yonhap)Replacement demand is likely to slacken this year due to a lack of devices with landmark functions, TrendForce said, adding global smartphone output could drop as much as 5 percent on-yea

SILICON VALLEY, California -- Larry Heck is a renowned figure in Silicon Valley, spending 27 years working with the world’s leading tech moguls on bringing forward the era of artificial intelligence. After introducing AI services at Yahoo, Microsoft and Google, Heck joined Samsung in November 2017 to improve its fledgling AI platform Bixby, as the South Korean IT hardware manufacturer kick-started its drive for AI. “Despite the last five to seven years of progress, we are still very early in thi

Changing viewer trends, easier access boost streaming services’ presence in sports broadcasts; lack of funds, infrastructure remain major barriers

Amid its strong drive for artificial intelligence, Samsung Electronics is preparing to open new AI research centers, likely in Switzerland and Germany, this year, in addition to seven existing centers across the continents, according to the company’s high-ranking officials on Monday. “Samsung will open additional AI centers this year to attract more AI experts, and the places under consideration include Switzerland and Germany,” a Samsung official told The Korea Herald. The comment was made in r

South Korean heavy construction equipment makers such as Doosan Infracore and Hyundai Construction Equipment saw their sales of wheeled excavators rebound in China last year, following the recovery of the country’s construction market. According to China Construction Machinery Association data, Doosan Infracore sold 15,630 excavators last year, while Hyundai Construction Equipment sold 7,234.  Doosan InfracoreEach of the firms recorded their highest number of sales in eight years.Last year, the

STYLISH WATER PURIFIER -- Models pose with water purifier maker Kyowon Wells’ new product Wells The One during its launch event held in Seoul on Monday. As the first in the industry, Wells The One has separated the water faucet part from the water filter system for an easier placement of the device. For a three-year rental plan, it costs 38,900 won ($34.8) to 51,900 won per month depending on the color and model. (Kyowon)

Hyundai Motor Co. and its affiliate Kia Motors Corp. posted 0.6 percent on-year sales growth in the United States last year due to a slowing economy and a lack of competitive models, the companies said Monday.In 2018, Hyundai and Kia sold a combined 1.27 million vehicles in the US market. Hyundai's sales fell 1.1 percent on-year to 677,946 units and Kia's were little changed compared to a year earlier at 589,763 units, Hyundai Motor Group said in a statement, citing figures from Autodata Ltd., a

South Korean food company Pulmuone said its tofu sales in the US had reached $88 million last year, an on-year increase of about 11.1 percent.On the strength of growing consumer interest in the protein-rich food, the US tofu market has grown to $97 million, market data showed. According to Pulmuone USA, the company held 73.8 percent of the market share as of Dec. 3. The company said its sales target for the US tofu market was 100 billion won ($89.3 million). Currently, Pulmuone operates global s

SEJONG -- Makgeolli has drawn wide attention at home and abroad over the past few years after a research report claimed the Korean alcoholic drink from fermented rice’s anti-cancer effect is about 20-fold higher than that of wine or beer.However, regardless of the effect against cancer, makgeolli devotees pick the traditional taste, originated from the Joseon Dynasty (1392-1910), for the reason of their steady drinking of it.Its flavor appeals to many inbound tourists as TV entertainment program

SK Group Chairman Chey Tae-won (right) held talks with his employees at lunchtime at the conglomerate’s office in Jongno, Seoul, Tuesday last week, the company said Sunday in a press release. (SK)The “Happiness Talk,” attended by some 300 employees working at SK Supex and SK Innovation, was arranged as a way to enhance communication within the group, the firm said. (SK)Participants asked questions about topics such as paternity leave and work-life balance. In response, Chey offered to consider w

Management in Korea is a regular column written by the members of Egon Zehnder Seoul, touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed.More and more, executives are being asked not to merely lead enterprises, but to transform them -- to develop and implement radically new ideas regarding how the organization creates value, manages operations and fits into the larger economic landscape. Often, this need to transform comes from the emergenc

SK Group said Sunday that the first combined presentation by its core affiliates -- including SK Innovation, SK Telecom and SK hynix -- showcasing the latest mobility technology at Consumer Electronics Show 2019 was a great success. This year’s CES, held last week in Las Vegas, drew about 180,000 spectators, according to organizers.Under the theme of “Innovative Mobility by SK,” the company hosted a booth on innovative mobility technologies. Participants in Consumer Electronics Show 2019 visit S