South Korean company Daewoo Engineering & Construction will apply property technology it has developed to its construction procedures to optimize work efficiency and customer satisfaction, according to the company on Monday. Property technology is currently recognized as a game changer in the real estate market, utilizing the latest technologies such as big data, artificial intelligence and virtual reality to carry out real estate-related work more efficiently. Daewoo E&C’s pro

A woman performs a hydroflying show at Caribbean Bay, Yongin, Gyeonggi Province, Monday.

The American Chamber of Commerce in Korea will resume the “Doorknock” program this year after a three-year hiatus caused by the COVID-19 pandemic, it said Monday. AmCham’s delegation of top-level executives, including AmCham Chairman and CEO James Kim, will be in Washington D.C. from this Wednesday to Friday to meet with key figures of the Biden Administration and Congress, it added. The delegation has secured more than 25 senior-level meetings with officials from various sec

Sundays are often a day for family shopping, but supermarkets in South Korea don’t operate every second and fourth Sunday of each month. Under the mandatory shutdown rules, designated to protect mom-and-pop stores nearby from losing sales to discount store chains, supermarkets have closed twice a month for the last 10 years. But the ability to shop every Sunday may become possible again with tens of thousands of consumers asking the presidential office to scrap the rule. According to

Dunamu, the operator of one of South Korea’s largest crypto exchanges, has teamed up with the international humanitarian medical non-governmental organization Doctors Without Borders to build a map on its metaverse platform to help the global medical initiative, officials said Monday. Dunamu and Doctors Without Borders, also known as Medecins Sans Frontieres, signed a memorandum to build a partnership on contributions in accordance with the environmental, social and governance movement i

Samsung Electronics has started shipping chips produced using the world’s most advanced 3-nanometer manufacturing technology, which has drastically improved power consumption and performance. On Monday, the tech giant held a ceremony to celebrate the departure of the first batch of 3nm chips from its chip-making complex in Hwaseong, Gyeonggi Province, with some 100 company and government officials in attendance. The 3nm technology is Samsung’s secret weapon to outpacing its rival

Audi sold a total of 25,615 vehicles in South Korea last year, marking the third-largest sales volume among import carmakers here. The German automaker said it has focused on expanding its lineup to include compact vehicles such as the Audi Q3 and A3, as well as electric cars e-tron S and Q4 e-tron. In 2021, Audi sold 1,553 electric cars, the largest number of electric cars sold among premium import car brands. In December, it launched the Audi e-tron GT and RS e-tron GT, which are at the van

GS Engineering and Construction said Monday it has released its annual sustainability report for 2022, introducing its environmental, social and corporate governance-related activities. In the report, the South Korean builder said it had launched its Research Institute for Future Technology in March. Through its continued investment in future technology, GS E&C said it had developed water saving, biogas facility modulation, carbon dioxide to hydrogen conversion, and eco-friendly water desal

Samsung Card Co., a major South Korean credit card firm, said Monday its net profit increased in the first half of this year, helped by recovery in consumer sentiment amid the pandemic. Samsung Card's consolidated net profit stood at 315.9 billion won ($241 million) in the January-June period, up 12 percent from a year earlier, according to the firm's regulatory filing. Operating profit increased 12.1 percent to 426.1 billion won, with sales revenue rising 10 percent to 1.94 trillion w

Renault Korea Motors is hoping to better cater to customer needs with a service that allows car owners to drop off their vehicles at the automaker’s repair shops anytime, anywhere across the country. The carmaker introduced its “Drop the Keys” service in April, which allows drivers to bring in their cars for check-ups and repair anytime of the week. Local auto repair stores usually close around 6-7 p.m. on weekdays and earlier on Saturdays, while most of them do not operate

Korea Post chief Son Seung-hyun, attended the Kahala Post Group chief executive officers meeting held in Madrid on Thursday, the nation’s postal service provider said. The Kahala Post Group is an international alliance of postal administrations created in 2002 to promote international mail delivery and to carry out strategic projects. It currently has 11 member states. The effects of COVID-19 on international mail, and methods to improve its quality were discussed at the meeting, said K

Citigroup’s Korean unit Citibank Korea shared its foreign exchange solutions and outlook on the global economy at the Economic Outlook and Market Solutions Seminar held in Seoul on Wednesday. The seminar aimed to have specialists give their latest outlook on the volatile global economy and foreign exchange markets to improve its corporate clients using its global market platforms. Some 20 chief executive officers and finance heads of major multinational companies participated in the ev

Rice price falls to all-time low, as younger people increasingly opt for healthier alternatives

Hyundai Motor Group will receive benefits worth 2.4 trillion won ($1.8 billion) in tax exemptions and incentives from the US state of Georgia in exchange for building its first dedicated electric vehicles manufacturing plant there. The subsidy package of property and income tax exemptions, as well as other incentives in land, infrastructure and equipment purchases, is the largest-ever offered by the US state. According to the signed deal disclosed on Saturday, the Korean automaker will get a ta

BYD, the world’s largest electric vehicle maker, is getting ready for EV sales in the South Korean market, going head to head against the country’s top automaker Hyundai Motor Group with lower price tags and better performing cars. Industry sources said Sunday that BYD recently inked a deal to rent an office near Seoul Station in central Seoul and started recruiting personnel, including those for vehicle registration, after-sales services and marketing activities.  Since the