Hyundai Electric & Energy Systems Co. said Wednesday it will make inroads into the renewable energy market in cooperation with Pacifico Energy Korea, a South Korean unit of US Pacifico Energy. Under the preliminary deal with renewable energy developer Pacifico Energy Korea, Hyundai Electric, a unit of global giant shipbuilding group Hyundai Heavy Industries Group, will design and build an industrial energy storage system (ESS) and large-scale renewable power plants, the company said in an

Audi Volkswagen Korea Group Managing Director Rene Koneberg has been named the head of South Korea's imported vehicle association, the association said Wednesday. Koneberg has been serving as vice chairman of the Korea Automobile Importers and Distributors Association (KAIDA) since 2018. His appointment comes months after KAIDA suspended Fiat Chrysler Automobiles NV (FCA) Korea President Pablo Rosso from his KAIDA chairman position over alleged sexual misconduct in July. Koneberg began his

Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to report a combined operating profit of about 3 trillion won ($2.7 billion) in the fourth quarter on new models and improved product mix, after delivering poor business results in the past quarter, analysts said Wednesday. Hyundai and Kia look set to post more than 1.8 trillion won and over 1 trillion won, respectively, in operating profit for the October-December period after hefty provisions for the recall of a faulty engine a

Major South Korean builder GS Engineering & Construction’s Xi has become the most preferred apartment brand among potential homebuyers prioritized by the government’s housing scheme this year, as of late September. GS E&C, which analyzed data from the Korea Appraisal Board, said Xi was the choice for over 350,000 out of 2.9 million “first-served” potential homebuyers who hold a housing subscription savings account and meet the requirements for a priority treatmen

Synergy Hill+Knowlton Strategies Korea has bagged three awards this year: the SABRE Awards, PR Awards Asia and the Asia Pacific Stevie Awards. Delivered by the Holmes Report, which publishes an annual international public relations report, the SABRE Awards are among the largest such awards programs. The firm won for North Asia PR Consultancies of the Year, both this year and last year. At PR Awards Asia, Synergy Hill+Knowlton Strategies Korea was named the Japan/Korea PR Consultancy of the yea

Kia Motors Corp.'s union said Wednesday its unionized workers plan to vote on a potential strike next week to demand higher wages and performance-based bonuses. Kia Motors and its union have held nine rounds of meetings in this year's wage talks but haven't narrowed the gap running deep between them over wages and bonuses. The carmaker's 30,000-strong union will have the right to go on strike if more than 50 percent of the union members support a walkout in the vote due Nov. 3. The union dem

Samsung Group chief Lee Kun-hee, one of most influential businessmen in South Korea's post-war era, was laid to rest in a funeral Wednesday as his family, friends and associates mourned his death. Lee, who built the country's largest conglomerate, died Sunday at age 78, more than six years after being hospitalized for a heart attack. The send-off ceremony for Lee was held in a private manner at a funeral hall at Samsung Medical Center in southern Seoul around 7:30 a.m., with his wife, Hong Ra-

Lee Sung-han, head of Amazon Global Selling Korea, urges more businesses to venture into overseas markets online

Krafton said Tuesday it has designated five underwriters to publicly list the company in 2021. According to the South Korean game company best known for the shooter game PlayerUnknown’s Battlegrounds, Mirae Asset Daewoo is the lead underwriter while co-underwriters include Credit Suisse Securities, Citigroup Global Markets Korea Securities, JP Morgan and NH Investment & Securities. “Our goal is to list the company in Korea next year. After selecting underwriters, we will make

Posco International was selected as the grand prize winner in the ESG segment at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the firm said Tuesday. The firm said its efforts and achievements in promoting sustainable management had been recognized by winning the prize for two consecutive years. The KCGS is an organization that conducts evaluation, research and surveys on corporate governance, social responsibility and environmental management. I

ICT minister, AmCham chairman, experts offer insights on digital transformation, non-face-to-face business

Samsung SDS, Samsung Group‘s IT service unit, announced the Tuesday that company’s sales marked an all-time high in the third quarter this year. The sales of Samsung SDS during the July-September period reached 2.96 trillion won ($2.6 billion), up by 11.7 percent on-year, according to a regulatory filing posted Tuesday. Compared to the second quarter this year, the sales went up by 15.6 percent, the company added.  The firm‘s operating profit during the three-month pe

Samsung Electronics Vice President Jamie Choi captures behavior of future consumers

Choi Yoon-sup of Digital Healthcare Partners explains reshaping health care

FTC Vice Chairman Kim Jae-shin offers overview of Korea’s regulations on growing platform businesses