South Korea's Hyundai Motor Co. said Friday it will launch its first all-electric high-performance IONIQ 5 N model in the domestic market next year. Hyundai has strengthened the high-performance N brand and the N Line brand to compete with its bigger rivals in terms of performance cars. The N models bring full performance capability to daily driving, while the N Line brings performance-inspired elements to base model vehicles. The N Line models sit between Hyundai's high-performance N

KT and CJ ENM have decided to merge their over-the-top video streaming platforms -- Seezn and Tving -- to create the largest Korean-made video streaming platform. The merger could accelerate the growth of Korean video content, officials said Thursday. The two companies each held board of directors meetings and decided that KT’s Seezn will be absorbed by CJ ENM’s Tving. KT Studio Genie, which holds a 100 percent stake in Seezn, will become the third-largest shareholder of the newly

For Oh Ju-ha, a housewife in her 50s, having samgyetang, or ginseng chicken soup, has for many years been a way to endure the highest temperatures of summer. But she is having second thoughts this year. “I’m thinking about making kongguksu (soy milk noodle soup) for this chobok, instead. It’s also high in protein, and not as ridiculously expensive as samgyetang,” she said. Chobok is traditionally the beginning of the most sweltering days of the year in Korea. Oh is one

The country‘s top shipping company HMM is aiming to become a global industry leader by investing 15 trillion won ($11.4 billion) over the next five years. “We consider this investment the least that we can do to make our company a sustainable and stable company amid growing uncertainties in the global shipping market due to environmental regulations and digitalization,” Kim Kyung-bae, CEO of HMM, told reporters on Thursday. HMM will be using 10 trillion won of that investment

The ownership family of Hankook Tire and Technology, the world’s sixth-largest tiremaker, has lost a lawsuit against the local tax agency concerning a fine of 4.59 billion won ($3.5 million) for allegedly hiding assets overseas. The Seoul Administrative Court recently ruled against the suit brought by Cho Yang-rae, honorary chairman of Hankook & Co., the parent company of Hankook Tire, and his eldest son Cho Hyun-sik, a Hankook & Co. adviser. Cho and his son have argued that op

The growing call on South Korea to participate in the United States-led chip alliance across East Asia is putting the semiconductor powerhouse, home to Samsung and SK hynix, again in a strategic dilemma. Sitting in the crosshairs of US-China economic warfare, Korea is being pressured to choose a side by joining the new semiconductor alliance of the US, Taiwan and Japan, with Korea making up the fourth in the so-called “Chip 4.” Alternatively, Korea might choose not to join them, con

BUSAN -- Hyundai Motor’s latest electric vehicle Ioniq 6 made its global debut at the Busan Motor Show Thursday, boasting not only its sleek design but also its single-charge travel capacity of 524 kilometers. The sedan, whose overall design was inspired by airplanes, features energy efficiency at 6 km per kilowatt-hour, which is the highest rate among EVs around the world, the carmaker said. “The Ioniq 6 will create a sensation in the local EV market, currently dominated by EVs wi

An upward pressure on wages caused by inflation will be the biggest ordeal for businesses in the long run, said Chey Tae-won, who is chairman of both SK Group and the Korean Chamber of Commerce and Industry, the nation’s largest business lobby. “Dealing with inflation was expected,” Chey told reporters at the KCCI Jeju Forum which opened Wednesday on Jeju Island. “I think it will be much more difficult especially for small- and medium-sized companies which hire a lot of

S. Korean telecommunications carrier aims to secure 10 million users by 2025

Chip-to-smartphone giant Samsung Electronics said Thursday it has unveiled the industry’s fastest GDDR6-standard memory chips for next-generation graphics cards, using the cutting-edge extreme ultraviolet photolithography process. The newest third-generation 10 nanometer-class GDDR6 DRAM is designed to deliver 30 percent faster processing speeds than its predecessor, as they feature 24 gigabits-per-second data transfer rate per pin. The predecessor, featuring speeds of 18 Gbps, has been m

South Korea's Hyundai Motor Co. on Thursday unveiled its second dedicated EV model IONIQ 6 at the Busan International Motor Show ahead of its local launch in September. The IONIQ 6 is the second model embedded with Hyundai Motor Group's EV-only electric-global modular platform (E-GMP) following the IONIQ 5, which launched in April last year. Hyundai will begin receiving preorders for the new model on July 28 and aims to sell 12,000 IONIQ 6 models in the domestic market by the end of th

SK Group Chairman Chey Tae-won has suggested possible changes or a delay in SK's multibillion dollar investment plans for the next few years, citing higher borrowing and raw material costs. Chey made the remarks at a forum in Jeju this week, noting the effect of the global easy-money policy over the past decade, coupled with global supply disruptions, and a surge in energy and commodity prices, triggered by Russia's war in Ukraine, are unraveling. "Costs have risen sharply in mate

The Korea Forest Service has said it will step up efforts to promote the role of forests in improving the environment, economy and quality of people’s lives by pursuing sustainable forest management. Under its slogan “forest renaissance,” the KFS seeks a balance between development and conservation to secure a sustainable future. “In the forest-driven renaissance, we will make good use of forests to tackle climate change, preserve biodiversity and develop them in a sust

New chief of Korea Forest Service underscores international cooperation

Ever wondered how fried chicken would pair up with mint and chocolate? For those who have, the South Korean unit of fried chicken chain KFC has released a mint chocolate-flavored dipping sauce. The sauce, which is part of a seasonal collaboration with local food delivery app Baemin, will be available until Aug. 8 at locations across the country, excluding a select few. The mixture of “rich and sweet chocolate” and a “fresh mint flavor” has created the new sauce, the