South Korean home appliance maker Coway said Thursday it will begin constructing a solar power plant on the roof of its global sleep technology subsidiary iOBED's factory, located in Paju, Gyeonggi Province, in December. The construction is set to be completed in March 2023. The solar power plant will begin operation in the first half of 2023, and is estimated to have an annual generation capacity of 800 kilowatt hours, according to the home appliance company. The plant will become the fift

KCCI stresses donations made voluntarily to fuel momentum

Small and medium-sized businesses in South Korea are demanding more foreign workers than the government plans to bring in next year to plug the growing skills shortage, data showed Wednesday. According to a survey conducted this month by the Korea Enterprises Federation, one of the five major business lobby groups, 55 percent of the 307 companies -- comprising those with fewer than 300 employees -- welcomed the government plan to add a 110,000-strong foreign workforce next year, a roughly 50 per

Hyundai Motor Group unveiled the Genesis X convertible, a concept for the luxury brand's first full-electric convertible car, in Malibu, California, Wednesday, prior to the LA Auto show that kicks off Friday.

Volkswagen Korea debuted the new Golf GTI, the eighth-generation of the German carmaker’s gasoline-powered hot hatch, in Seoul on Tuesday before its official launch next month. Since its debut in 1976, the Golf GTI has been recognized as a reasonably priced sports car that popularizes the new car segment “hot hatch.” The upcoming Golf GTI is equipped with the EA888 2.0-liter inline 4-cylinder turbocharged gasoline engine with a maximum horsepower of 245 and a maximum torque of

South Korea’s largest air carrier Korean Air’s buyout of Asiana Airlines faced yet another hurdle, as the US antitrust regulator decided to conduct a more thorough investigation before granting approval of the merger. The US Federal Trade Commission was expected to announce its decision this week, but informed Korean Air on Wednesday it would need more time for a thorough evaluation, according to the Koran air carrier. In March, the US antitrust watchdog evaluated that when merged

South Korea’s imports of kimchi, a staple of almost every meal, reached an all-time high last month, with soaring ingredient costs driving up prices of domestically made kimchi amid inflation fears. In October, kimchi shipments from overseas surged by 50.9 percent compared to a year earlier to $17.02 million, according to data from the Korea Customs Service. The figure showed a 16.2 percent increase from the previous month. It is the first time monthly imports surpassed the $17 million m

Hyundai Glovis, a logistics arm of Hyundai Motor Group, said Wednesday that it is entering the Malaysian logistics market in a strategic partnership with local logistic giant Lion Group, as part of efforts to expand its presence in Southeast Asia. The two sides signed a memorandum of understanding, under which the Korean firm will apply its smart logistic solutions to enhance efficiency of Lion's logistics operations overall. Established in 1930, Lion Group is one of the largest conglom

Yido, a South Korean firm that specializes in integrated management for infrastructure and golf courses, said Wednesday that it has signed a strategic partnership with US sports virtualization hardware and software company Full Swing to expand their presence in the Asian market. Established in 1986, Full Swing is the industry's top golf simulator maker and the official licensed simulator of the PGA Tour. The company’s launch monitor was co-developed with Tiger Woods to enhance accur

South Korean manufacturer of electric vehicle chargers SK Signet said Wednesday it will start producing ultrafast 350-kilowatt electric vehicle chargers in the US from the second quarter of 2023. The plan comes after the company, an affiliate of the nation's second-largest conglomerate SK Group, revealed in October it was investing $15 million to acquire a new manufacturing facility in Plano, Texas. The plant, located on a 495,867-square-meter site, can produce 10,000 EV chargers with capac

Microsoft CEO Satya Nadella on Tuesday met with chiefs of SK Group, South Korea’s second-largest conglomerate, and NCSoft, the country’s game giant, to discuss future cooperation. According to industry sources familiar with the matter, Nadella sat down with SK Group Chairman Chey Tae-won, SK Square CEO Park Jung-ho and NCSoft CEO Kim Taek-jin in Seoul. The Microsoft chief’s meeting with SK leaders was a sign of the continued partnership between the two sides. In 2019, Park, who

South Korea, Indonesia sign a total of 10 MOUs at G-20 to boost economic ties

Porsche Korea aims to strengthen its brand presence in esports as part of its marketing strategy to reach out to younger customers and let them experience the brand in a new way, according to the carmaker. In response, Porsche Korea signed a partnership agreement with the South Korean esports team DRX last year to support them for three years and host various esports activities. Team DRX, sponsored by Porsche Korea, won the LoL World Championship finals in San Francisco on Nov. 6, scoring 3-2 an

Kwon Hyuck-bin, founder of South Korea’s gaming giant Smilegate and the nation's fifth richest person in terms of asset value, is going through an expensive divorce, according to legal sources Tuesday. Kwon’s wife was recently ruled in favor of her claim banning her husband from selling company shares until the divorce is finalized. Kwon controls 100 percent shares of Smilegate that is best known for its popular shooting game “Crossfire.” If the court orders Kwon t

APR, operator of Korean street fashion brand Nerdy and dermocosmetics brand Medicube, said Tuesday it posted record-high sales in the third quarter this year. The company’s sales surged on-year by 306 percent to 95 billion won ($72 million) while its net income jumped 81 percent to 12 billion won from July to September. Accumulated sales and income through the third quarter were 269 billion won and 18 billion won, respectively, surpassing last year’s performance. The company attrib