From operating on a Sunday to digital certifications, lenders step up services tailored to foreign nationals

First full-size electric SUV Neolun, high-performance brand Magma make global debuts in New York

Kia Corp. on Tuesday announced it has appointed two former designers from Mercedes-Benz and BMW to head its design centers in Europe and China, respectively. Oliver Samson, previously with Mercedes-Benz, and Lim Seung-mo, formerly of BMW, will take on their new roles as head of the Kia Design Center Europe and head of the Kia Design Center China, respectively, on April 1. Samson and Lim will report to Karim Habib, executive vice president and head of Kia Global Design. The appointments are expec

After topping the sales charts in South Korea’s import car market last year, BMW Korea is looking to sustain its momentum with its new 530e, a plug-in hybrid model that is part of its 2024 eighth-generation 5 Series lineup. Introduced earlier this month, the 530e complements the 2024 lineup of gasoline, diesel, and electric models with its advanced plug-in hybrid technology. The 530e features a combination of a gasoline engine enhanced with BMW's TwinPower Turbo technology that uses a spec

Cho Joo-wan hints at M&A with platform, B2B businesses

South Korean IT solutions provider LG CNS said Tuesday it has teamed up with Vietnam’s largest IT firm to carry out the group’s digital transformation project there. LG CNS recently signed a memorandum of understanding with Hanoi-based FPT Corp. at the Korean IT solutions provider’s headquarters in Seoul. The recent deal is the outcome of the two firms’ years of cooperation as IT partners since 2019, LG CNS officials said. FPT Corp. is a global IT company leading Vietnam&

Lotte Group Chairman Shin Dong-bin (center) visits a new EV charger production plant in Cheongju, North Chungcheong Province, on Monday. The plant, operated by EVSIS, a subsidiary of Lotte Innovate, an IT solutions unit, has an annual production capacity of 20,000 units. Lotte aims to nurture the EV charger business together with other future mobility businesses as its new growth drivers. (Lotte Group)

Lotte Chilsung Beverage Co., the beverage arm of the South Korean conglomerate Lotte Group, said Tuesday its flagship product, Chilsung Cider, has received global recognition for its high-quality taste. Chilsung Cider was honored with the superior taste award, receiving three stars, the highest distinction in the soft drink category, from the Brussels-based International Taste Institute, the company said. Judged on five criteria including first impression, appearance, aroma, taste, and aftertast

Hana Bank said Tuesday it signed a partnership deal with Japan’s largest payment processing company, GMO Payment Gateway, to launch a cross-border payment and settlement system for domestic companies expanding into Japan. Under the partnership, Hana and GMO will collaborate in providing a wide range of services Korean companies from expert consulting for starting businesses and launching franchises in Japan to assistance on transferring e-commerce sales generated in Japan. Thier collaborat

Amid escalating construction costs and volatility in the financial markets triggered by interest rate hikes, the domestic real estate sector is grappling with unprecedented risks. In response, Daewoo Engineering & Construction is pivoting to international markets, notably in urban development projects, to mitigate these challenges, the company said Tuesday. Despite the recent market downturn, Daewoo E&C has demonstrated resilience. The builder reported sales of 11.6 trillion won ($8.67 b

South Korea's consumer sentiment snapped an improvement for the third consecutive month in March amid soaring prices of farm goods and a slump in private spending, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 100.7 this month, down from 101.9 the previous month, according to the survey conducted by the Bank of Korea. A reading above 100 means optimists outnumber pessimists. The central bank said consumer sentiment declined amid a rise in prices of agri

Top two TV makers turn to content amid declining hardware sales

The new CEO of Kyobo Life Insurance, the nation's leading life insurer, has pledged to achieve "sustainable growth" that benefits all stakeholders. Upon assuming office on Monday, CEO Cho Dae-kyu cautioned about the life insurance industry's current challenges, citing "stagnant growth and declining profitability." During his inauguration ceremony at the company's headquarters in Gwanghwamun, central Seoul, the CEO stressed the urgent need for "change and i

Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as well as a leading trading company, I will fulfill my responsibilities" to align with the company's new vision, "materials opening the future, innovation for the top class,&quo

Hyundai Motor Group ranked second behind Tesla in terms of electric vehicle sales in the United States in January, a report showed Monday. Citing statistics from S&P Global Mobility, Automotive News said the Korean auto conglomerate’s three brands -- Hyundai Motor, Kia and Genesis -- combined for 8,262 newly registered EVs in the US in January 2024 to account for 9.3 percent of the total market. According to the report, Tesla registered 48,757 EVs to retain the top spot, while traditio