Samsung Heavy Industries, one of South Korea’s three biggest shipbuilders, won a 1.5 trillion won ($1.27 billion) order to build an offshore facility, the company said Thursday. It is the first mega offshore facility deal in the new year for the country’s shipbuilders, which suffered a sharp decline in orders last year. The combined annual new orders clinched by the country’s big three shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and

Hanwha Group Chairman Kim Seung-youn asked each affiliate to focus on developing their core competency to lead future growth. “The advent of the fourth industrial revolution is a big challenge and opportunity for us,” Kim said Monday. “Based on the long-term trend, such as a decrease in the production population, we should beef up our future competency with new technology, new business and new markets.” The defense unit should aggressively expand in overseas markets w

Hyundai Motor Group Chairman Chung Mong-koo on Monday urged the company to strive to overcome the uncertain business environment and achieve the group’s sales target of 8.25 million cars in the new year. “Trade protectionism is spreading and competition in the auto industry is intensifying, raising business uncertainty” Chung warned Monday during a New Year’s meeting. “We will have agile and flexible responses to changes in the external environment by ensuring in

Samsung C&T has been engaging in corporate social responsibility projects by using its expertise as a leading construction and engineering firm.Its representative projects include “C&T village” and “Dream Tomorrow.”C&T village helps improve living conditions in different countries in conjunction with volunteer organization Habitat for Humanity Korea. This includes rebuilding and fixing houses, and setting up bathrooms and water fountains, along with other ways to create a safe and sanitary livin

Hyundai Card, the financial unit of Hyundai Motor Group, has opened Hyundai Card Studio Black, a co-working space for fledgling entrepreneurs and creators, near Gangnam Station in southern Seoul. Hyundai Card -- known for its out-of-the-box management, which shook up the Korean finance market in 2003 -- has incorporated into Studio Black the successful elements that helped make the Hyundai Card a household name.  Hyundai Card Studio Black (Hyundai Card)Features of the new venue include secure fa

By Park Heung-soo,Professor at Yonsei University School of BusinessApple’s brand value in 2016, according to Interbrand, was tops in the world at $178.1 billion. The No. 2 spot went to Google with $133.2 billion and third to Coca-Cola with $73.1 billion. South Korea’s Samsung came in at No. 7 with $51.8 billion.Brand value is a monetary unit of the current value of a brand. It would be the amount that would be added to the company account book’s net asset value when selling the business in retur

Since its establishment in 2000, Mirae Asset Park Hyeon Joo Foundation has supported more than 150,000 Korean students as part of its drive to share responsibilities for the country and society, the company said Tuesday.  Students pose after a ceremony to sign certificates for Mirae Asset Park Hyeon Joo Foundation’s overseas exchange student scholarship program on December 26. (Mirae Asset Global Investments)Mirae Asset, the country’s leading financial group, runs a domestic scholarship program

Hyundai Motor Group wrapped up its year-end strategy meeting on Tuesday, with plans to expand its SUV and new energy vehicle lines next year. The group, the owner of South Korea’s two biggest carmakers Hyundai Motor Co. and Kia Motors Corp., will introduce more sport utility vehicles tailored to local markets and new energy vehicle lines to spur growth in 2017, the company said. Hyundai Motor Group headquarters in Seoul. (Yonhap)Both carmakers will unveil new small SUVs next year in Korea and in

Last week, Hyundai Motor and its affiliate Kia Motors won a total of four design awards at the Good Design Awards in the US. Hyundai Ioniq, the Kia K7 -- also known as the Kia Cadenza overseas -- the Kia Telluride and Genesis’ concept car “Vision G” were among 13 vehicles awarded in the transportation category at the oldest and the most prestigious architecture and design awards.  Genesis’ concept car “Vision G”　The annual awards are given to products with creative designs in various areas joint

Hyundai Card Corp. has rolled out diverse products and services to reinvigorate itself into a digital-based company under the “Digital Hyundai Card Initiative” announced in 2015.The measures have included the launches of a string of products and systems to provide digital solutions needed for consumer finances.In recognition of such efforts, the company was given an award by the Ministry of Science, ICT and Future Planning in the 2016 Data Quality Certification hosted by the ministry in November

Kia Motors’ hybrid crossover utility vehicle Niro has been recognized by the Guinness World Records for the lowest fuel consumption, the company said Friday. Kia Motors’ hybrid crossover Niro (Kia Motors America) 　The 2017 Niro EX traveled 5,977.9 kilometers from Los Angeles to New York City between Dec. 4 and 11, using a total of 183.6 liters of gas. This marks a record of 3.7 liters per 100 kilometers, for the lowest fuel consumption drive across the US from coast to coast.The official fuel ec

South Korea’s leading automaker Hyundai Motor Co. is planning to show off its self-driving technology at the largest consumer electronics show in Las Vegas next month, the company said Thursday.Two models of Hyundai’s Ioniq hatchbacks -- one electric and one hybrid -- will hit the road without a driver during the annual Consumer Electronics Show, which will be held from Jan. 5-8. Hyundai unveiled its self-driving Ioniq concept car at the the Los Angeles Auto Show on Nov. 16. The car has received