As competition is escalating among hydrogen automakers, Toyota Motor topped global fuel cell electric vehicle sales in the first quarter this year, beating Hyundai Motor, which had led the global FCEV market in 2020, research revealed Wednesday. According to SNE Research, global sales of FCEVs jumped 89.2 percent on-year, hitting nearly 4,000 units in the first quarter this year. Toyota, which took 15.1 percent of the FCEV market share in 2020, witnessed a surge in its FCEV sales by nearly

Korean education startup sees huge potential in ’AI tutor‘ as education struggles to overcome pandemic shock

Hanwha Total has completed the expansion of its petrochemicals plant in Daesan, South Chungcheong Province, to ramp up the production of polypropylene and ethylene, the company said Wednesday. The 530 billion-won ($472 million) project, which took 28 months for completion, included the building of a new polypropylene factory with annual production capacity of 400,000 metric tons, raising the firm’s total polypropylene production capacity to 1.12 million tons, the biggest scale in South K

KT, one of South Korea’s big three telecom carriers, faces a potential class action from gigabit internet service subscribers over allegations that the firm signed onto the plans even those living in areas unequipped with the infrastructure to accommodate the high-speed internet services. Kim Jin-wook, an attorney at Seoul-based law firm Joowon, announced Wednesday that he is recruiting prospective plaintiffs through a class action platform Angry People. “According to media rep

From Oscar winner Youn Yuh-jung to veteran actress Na Moon-hee, senior celebs charm younger customers

　South Korea’s exports of autos grew 31.4 percent on-year in the first quarter on the back of brisk shipments of sedans and eco-friendly vehicles, data showed. 　The country’s outbound shipments of cars came to $11 billion in the January-March period, compared with $8.37 billion the previous year, according to the data compiled by the Korea Customs Service. 　Imports of autos rose 21.8 percent on-year to $2.9 billion, the data showed. 　Overseas shipments of sedans and eco-friend

Kia Corp., South Korea's No. 2 automaker, said Wednesday its first all-electric model, the EV6, logged decent presale orders in Europe. According to the automaker, presale orders for the EV have topped 7,000 in Britain, France, Germany and other major countries, with the number set to further rise. Kia unveiled its crossover EV built on a dedicated platform last month and received 21,016 units of preorders on the first day of its launch in South Korea, which set a new record among the automak

South Korean carmaker Hyundai Motor said Tuesday it will launch the Genesis brand in Europe this summer to gain a share in the high-end and electric vehicle markets.  Hyundai Motor will initially launch the G80 sedan and the GV80 SUV in European markets, such as Germany, Britain and Switzerland, in June, the company said in a statement.  Hyundai said it also plans to introduce the G70 sedan, the GV70 SUV and a strategic model customized for European markets this year. In its broad e

Local unit of French carmaker warns union workers of ‘restructuring’

The US International Trade Commission has lifted a 21-month ban on the sale of Daewoong Pharmaceutical’s botulinum toxin product Nabota, or Jeuveau, in the United States, according to an announcement from Medytox on Tuesday. The decision allows Evolus, a US partner of South Korea’s Daewoong, to resume sales of Nabota in the US, after a legal battle between Medytox and Daewoong over misappropriation of trade secrets. The dispute between the two Korean pharmas, Medytox and Daewoon

Kakao Games, the gaming unit of the country’s leading messenger app operator, reported a 68 percent jump in net profit to 18.3 billion won ($16.3 million) in the first quarter on-year, the company announced Tuesday. Sales rose 35 percent to 130.1 billion won, while operating profit increased 23 percent to 15.6 billion won in the same period. By division, the firm’s online PC game segment reaped 51.1 billion won in sales, a 19 percent increase on-year, buoyed by the solid perfor

Resigning chairman apologizes for inaction on several other controversies in bid to regain public trust

GS25, Musinsa delete advertisements as misandry accusations mount

Incheon International Airport Corporation on Tuesday signed a memorandum of agreement with Israel’s state-owned aerospace and aviation manufacturer, Israel Aerospace Industries, to build an aircraft conversion center at Incheon Airport. The deal will see IIAC begin work on building infrastructure, with production of the first batch of passenger-to-freighter converted aircraft set to begin in 2024 in collaboration with South Korean aviation service company Sharp Technics K. After fending

Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won ($68.6 million) to expand one of its US plants in a bid to meet growing demand. The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered generators, Doosan Bobcat said. The expansion is aimed at meeting steadily increasing demands for grounds maintenance equipment (GME), such as ride-on mowers and hedge cutters, th