South Korea's top airline Korean Air Lines Co. is poised to issue bonds worth up to 300 billion won ($245 million) in April in an effort to secure working funds, industry sources said Thursday. The amount of Korean Air's planned debt sale, which is currently estimated to range from 200 billion won to 300 billion won, could rise depending on market demand, according to the sources. The national flag carrier is expected to use the proceeds for refinancing maturing bonds and other operating purpose

Hyundai Motor Co.'s IONIQ 5 has been named World Car of the Year at the 2022 World Car Awards, beating models from sister brand Kia Corp. and Ford Motor Co. to claim the overall crown. The all-electric crossover beat Kia's EV6 pure electric sedan and Ford's Mustang Mach-E SUV. It was also named World Electric Car of the Year and World Car Design of the Year, the company said in a statement. In the electric car category, Kia beat Mercedes-Benz's EQS sedan and Audi's e-tron GT sports car. "Wi

South Korea's antitrust regulator said Thursday it has started to review the proposed deal by US software giant Microsoft Corp. to buy leading US game developer Activision Blizzard. The Fair Trade Commission (FTC) said it plans to see if the merger of the two US firms could hurt competition in the online game market. In January, Microsoft announced a plan to acquire Activision Blizzard for $68.7 billion, and it asked the FTC last week to review its proposed takeover for approval. (Yonhap)  

Hyundai Motor Co. and its affiliate Kia Corp. -- South Korea's two biggest carmakers -- said Thursday they have unveiled their face-lifted SUV models amid robust demand for SUVs at the New York International Auto Show this week. Hyundai revealed the upgraded Palisade SUV at the show ahead of its domestic launch in May, while Kia introduced the face-lifted Telluride SUV ahead of its US launch later this year, the companies said in separate statements. The new Palisade will be available with an ei

Ford Sales & Services Korea Inc., Hyundai Motor Co. and four other carmakers will voluntarily recall 54,390 vehicles combined over parts defects, Seoul's transport ministry said Thursday. Ford will recall 19,733 Explorer SUVs over faulty rear toe links at the back wheels, which could cause safety problems while driving, according to the Ministry of Land, Infrastructure and Transport. Hyundai will recall 17,682 units of its hydrogen fuel-cell Nexo, as the malfunction of a sensor leads to a

Cho Seung-hwan, a former senior official at the Ministry of Oceans and Fisheries who spent more than 20 years in maritime services, was tapped to head the ministry under the incoming Yoon Suk-yeol government. “Cho is a maritime expert with an unmatched depth of experience spearheading many projects under previous governments. I expect him to find new opportunities for the maritime industry and map out plans to make the country a leading maritime power,” Yoon said. Cho, who served

President-elect Yoon Suk-yeol on Wednesday named a startup founder-turned-lawmaker to lead the Ministry of Small Medium-sized Enterprises and Startups, in his second round of Cabinet nominations since Sunday. Rep. Lee Young founded local internet and mobile security provider Teruten in 2000, and won a proportional representation seat without a constituency in the 2020 parliamentary election. She is the only legislator at Yoon’s People Power Party with experience in running startups,

UN aviation agency chief says Russia’s retaliatory airway closure to be discussed via its council soon

Operator of Korea’s top search engine eyes M&As in metaverse, virtual reality

US weekly magazine Newsweek chose Hyundai Motor Group Chairman Chung Euisun as visionary of the year in Newsweek World‘s Greatest Auto Disruptors Award event on Tuesday. In its special issue on agents of change in the automotive industry, Newsweek detailed Chung’s plans for Hyundai’s future, the carmaker’s progress and challenges in alternative fuels, acquisition of a robotics company, and its focus on vertical integration to become self-sufficient, from components to fi

South Korean steelmaker Posco was named Sustainability Champion of the year by the World Steel Association in recognition of its sustainable management, the company said Wednesday. Worldsteel is an international non-profit organization representing the global steel industry with memberships of 140 companies around the world.  The organization named 10 companies for their sustainable efforts. Posco was added to the list for the first time, the company said. The Worldsteel recognition is

South Korean telecommunications giant SK Telecom said Wednesday it has agreed to buy a stake in Morph Interactive, a Seoul-based three-dimensional motion graphics company, in a move to bolster a strategic partnership for accelerating its metaverse push. The deal terms, such as acquisition cost and the amount of Morph Interactive’s stake, was undisclosed upon the consent of the two companies. Morph Interactive has been dedicated to real-time 3D visual effects on Unity’s game engine

South Korean telecommunication firm KT said Wednesday it plans to launch a pilot telemedicine platform in Vietnam before the end of this year, with the aim of a soft landing within the next three years. The service will be aimed at monitoring those who are suffering from chronic diseases such as cancer, diabetes and high blood pressure, allowing patients to check their health conditions, medications and workouts, and get access to counseling with Vietnamese medical professionals. Vietnam&lsquo

SAO PAULO -- Global tech powerhouse Samsung Electronics Co. said Tuesday it has opened an outlet in Argentina's southernmost city of Ushuaia. The store, which opened Friday, carries Samsung's Galaxy S22 smartphone, the Galaxy Watch 4, accessories and other products, according to Samsung's Latin America Headquarters. Ushuaia, which claims the title of the world's southernmost city and has a population of some 60,000, is one of five internationally recognized Antarctic gateway cities and lures man

　Rice farmers in South Korea posted the largest net profit in 20 years in 2021 thanks mainly to favorable weather conditions, data showed. 　Rice farmers’ net income reached some 502,000 won ($414.2) per 1,000-square-meter paddy last year, up 13.4 percent from a year earlier, according to the data compiled by Statistics Korea. 　The amount represents the highest net profit from rice cultivation since the 511,600 won recorded in 2001. 　The statistics agency said local farmers’ net i