Mercedes-Benz Korea said Tuesday it has officially launched new models for its revamped E-Class -- two Coupe models and a Cabriolet -- completing the lineup of its bestselling luxury sedan family. The automaker presented a four-seater coupe, the new Mercedes-Benz E 450 Coupe, and the high-performance AMG variant, the new Mercedes-AMG E 53 4Matic+ Coupe. Also launched was a four-seater open-top model, the new Mercedes-Benz E 450 4Matic Cabriolet. The launch of the new E-Class Coupe and E-Class

Injunction filed by KCGI turned down; acquisition to be completed by June, 2021

South Korea’s exports in November increased by 4 percent on-year to reach $45.8 billion, rebounding from a 3.8 percent decrease last month, according to the Ministry of Trade, Industry and Energy on Tuesday. The nation’s daily exports in November also marked a 6.3 percent rise on-year, the ministry said. It is the first time since November 2018 that the nation posted increases in both monthly and daily exports. The country’s exports, from March to August, posted on-year decr

Attention heightens over timeline of IPO of batterymaker led by CEO Kim Jong-hyun

Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., voted down a tentative wage deal for the year amid the COVID-19 pandemic, the company said Tuesday. In a vote held from Monday to Tuesday, 54 percent of 7,364 union workers rejected the tentative deal, GM Korea and its union said. Union leaders will meet Wednesday to "decide what (additional or revised) demands it will make to the company and whether to hold an industrial action to get their voice heard,&quo

Nikola shares nose-dived 26.9 percent Monday after General Motors announced that it would revoke its initial plan to acquire an 11 percent stake once worth $2 billion in the electric truck startup. Upon the news, attention in South Korea quickly shifted to Hanwha Solutions and its President Kim Dong-kwan, who decided in November 2018 to invest $100 million to acquire a 6.13 percent stake in Nikola. Nikola, which was touted as a promising partner for Hanwha’s renewable energy push, ha

Naver Cloud and GS Global will collaborate on their overseas services, the companies said Tuesday. The new alliance with GS Global gives Naver Cloud a channel to liaise with large-scale corporate clients in target countries, while for GS Global it allows for a business expansion opportunity into information technology, they said. “Naver Cloud has the most global region services among cloud platforms developed by Korean firms,” said Park Won-ki, CEO of Naver Cloud. “It has h

Unity Technologies Korea will raise 1 billion won ($904,000) in funding together with ONEstore to operate a technology support program for game developers in Korea, it announced Tuesday. At an online press conference held a day ahead of the opening of its annual Unite Seoul 2020, Unity Korea reviewed its yearly performance and laid out the road map for the Unity game developing engine next year. “More than 64.8 percent of Korea's top 1,000 mobile games in 2020 were developed using

SsangYong Motor Co. said Tuesday its sales jumped 10 percent last month from a year earlier, helped by increased exports. SsangYong Motor sold 11,859 vehicles in November, up from 10,754 units a year ago due to strong overseas demand for its SUV models despite the COVID-19 pandemic, the company said in a statement. Domestic sales rose 0.3 percent to 9,270 units from 9,240 during the same period, and exports surged 71 percent to 2,589 from 1,514, it said. The SUV-focused carmaker said it wil

Mobile carriers consolidate tech biz for new growth driversSouth Korean mobile carriers are merging their tech subsidiaries and consolidating new businesses to boost synergy as they search for new growth drivers beyond their telecommunication operations. Telecom giant KT Corp. announced it will merge its digital content distribution and television commerce subsidiary KT Hitel Co. and its mobile coupon and advertisement unit KT mhows Co. by July next year. KT said the consolidation of KT Hitel'

Samsung Electronics Co. is planning to use a double-stack technology to develop its next-generation V-NAND flash memory, industry officials said Tuesday, as the world's largest memory chip producer tries to further cement its leading position in the sector. At its investors' forum held Monday, Samsung revealed that it will apply "extreme two-stack" technology for its future NAND flash chip and that it is possible to develop a 256-layer device. "Our sixth-generation V-NAND feat

Hydrogen industry to get boost as Posco also aims to jump into ‘green hydrogen’ sector

LG Innotek, the electronics parts making affiliate of LG Group, has been recognized by the Ministry of Health and Welfare for fulfilling its corporate social responsibilities, the firm said Tuesday. The Welfare Ministry selects businesses with outstanding corporate social responsibility programs every year in partnership with the Korea National Council on Social Welfare. LG Innotek’s plants in Gumi, North Gyeongsang Province, and in Gwangju Metropolitan City were credited by the minis

Electricity generation by energy source

　South Korea‘s alcohol imports fell for the first time in 10 years in 2019, amid a boycott of Japanese beer due to a bilateral trade row, data showed. 　South Korea’s liquor imports came to 466,000 kiloliters in 2019, down 6 percent from the previous year, according to data from the Korea Customs Service and local alcohol industry. 　It represents the first on-year decrease since 2009, shortly after the global financial crisis. 　Last year’s decline was attributed mainly to