South Korea's Kumho Tire announced Monday a technology licensing agreement with Blatco, a tire company based in Saudi Arabia, the largest automobile consumer and import country in the Middle East. Under the deal, Kumho will provide its tire production technology to Blatco for the next two decades, focusing on tires for passenger vehicles. In alignment with Saudi Arabia's Vision 2030, Blatco is set to expand its factory in Saudi Arabia's western industrial complex to 281,000 square

Hana Bank, a leading commercial bank in South Korea, unveiled Monday the latest upgrade to its tailored banking app for foreign exchanges, Hana EZ, with a focus on delivering an enriched and user-friendly mobile banking experience for foreign residents in the country. A key improvement lies in the integration of translation services during the registration stages of a lender’s digital certificate, called the Hana Certificate, which is now available in 16 different languages. This feature s

Hyundai Motor Company on Monday announced the launch of the new Ioniq 5, the first product enhancement model of the automaker's signature all-electric vehicle since its debut in 2021. Equipped with an 84-kilowatt-hour battery, the upgraded EV has a driving range of up to 485 kilometers per charge, an increase of 27 km from the previous model. The EV also comes with the next-generation infotainment system called connected car navigation cockpit to offer the experience of a software-defined v

An average South Korean spends about 40 hours a month using YouTube on smartphones, a local report showed Monday, as the video-sharing platform's popularity on its mobile platform proved to be higher than in any other country across the globe. Market analysis firm Wiseapp/Retail/Goods analyzed the apps used by South Koreans via Android and iOS mobile operating systems, which, combined account for roughly 98 percent of smartphones in the country. They found that the combined number of hours

South Korea's alcoholic beverage industry has been embracing quickly changing trend cycles -- from wine to whiskey cocktails and cognac -- with rising demand from young consumers to try new types of drinks. The next type of alcohol that is expected to boom here is tequila, according to industry sources. According to Samjeong KPMG’s report, South Korea’s wine consumption decreased significantly last year. The value of wine imports dropped 9.6 percent from $560 million in 2021 to

Major Korean financial groups are intensifying efforts to broaden and diversify their boards in response to a governmental drive for inclusivity within the sector. Woori Financial Group is appointing two new female members to its outside board of directors for the first time in its history. Lee Eun-ju, a media expert from Seoul National University, and Park Sun-young, an economics professor from Dongguk University, will replace the company's first and only female outside director, Song Soo-

Hyundai Motor's all-electric Ioniq 6 has been recognized as the most fuel-efficient 2024 model year vehicle by the US Department of Energy and Environmental Protection Agency, the South Korean automaker said Sunday. The Ioniq 6 long-range, rear-wheel driving model with 18-inch wheels scored a combined 140 miles per gallon equivalent, or 59.5 kilometers per liter equivalent. The EPA's rating estimates the distance a car can travel on 33.7 kilowatt-hours of electrical energy. (Hyundai Mo

Stakeholders in space industry concerned about tepid interest from private firms, delayed bidding process

Industry watchers say Big Tech chiefs seek to strengthen links with Samsung, SK, LG to challenge dominant market players Nvidia, Apple

In just nine days of its release, a 16-second video featuring trot singer Lim Young-woong posted on YouTube by Hana Bank has garnered over 6.8 million views as of Sunday. The video introduces the 32-year-old singer as the new face of Hana Financial Group, one of Korea's top five financial conglomerates. The YouTube channel of the group's banking subsidiary Hana Bank has also seen a substantial increase in subscribers, jumping from 188,000 to 218,000 within the same period. Hana's

South Koreans' meat consumption exceeded rice intakes for a second consecutive year, a report showed Saturday. According to the report by the state-run Korea Rural Economic Institute, the country's per-capita meat consumption was estimated at 60.6 kilograms last year, up 1.3 percent from the previous year's 59.8 kg. Last year's meat consumption was higher than per-capita rice intake of 56.4 kg, according to the report. The report said the meat consumption will rise to 61.4 kg

Local crypto exchanges are enjoying a boom in their returns amid the snowballing bitcoin rally. Upbit, the largest crypto exchange here, saw its transaction volume in the past 24 hours surpass 12 trillion won ($8.9 billion) as of Thursday at 3 p.m. It was the first time for the figure to go over 10 trillion won since 2021. As of Friday 2:15 p.m., its transaction volume in the past 24 hours stood at 9.96 trillion won. The volume is similar in size to the average daily transaction volume for Kospi

Following the high-profile visit of Meta CEO Mark Zuckerberg this week, stocks related to advanced technologies including artificial intelligence, augmented reality and display panels are gaining attention. In a report on Friday, Korea Investment and Securities suggested eight stocks, including Samsung Electronics and LG Electronics, that would benefit from Zuckerberg's visit to Seoul. Traveling to Korea for the first time in about a decade, Zuckerberg met with President Yoon Suk Yeol and b

As Samsung Electronics is expected to roll out its new Galaxy A series this month, anticipation is growing on whether the mid-range smartphone models will feature the tech giant’s latest artificial intelligence features. According to industry sources on Friday, the leading smartphone maker is expected to roll out the Galaxy A35 and A55 smartphones that support 5G connection. Amid growing attention, tipsters are even predicting the launch date as March 11. SamMobile, a leading source for Sa

InterBattery 2024, the largest battery industry exhibition in Korea, will take place at the COEX Convention and Exhibition Center in Gangnam-gu, Seoul, from March 6 to 9, attracting 579 companies from 18 countries and nearly 75,000 attendees for a comprehensive showcase of innovation, industry conferences and networking opportunities. Organized by the Korea Battery Industry Association and COEX, this year's event marks the largest gathering in the event's history, showcasing 1,896 boot