Only 20 units of the Levante S GranSport Zegna Pelletessuta are available in South Korea

South Korean battery maker SK Innovation Co. and American automaker Ford Motor Co. are set to announce a battery joint venture in the United States to ensure a stable supply of batteries for electric vehicles, industry sources said Thursday. The two companies plan to announce a memorandum of understanding on the joint venture later in the day, as South Korean President Moon Jae-in meets with US President Joe Biden in Washington this week to discuss bilateral issues, including EV industry coope

Korean Air posts operating profit but budget airlines hit hard by prolonged pandemic

Han Sung Motor, the largest Mercedes-Benz dealer here, presented its third signature perfume, Passion Mystique, as part of efforts to better connect with its customers, the company said Monday. To create a new brand experience, Han Sung Motor has sought to link its unique fragrances with the brand’s identity, and launched its first signature perfume Hansung Interior Fragrance in 2015 upon the company’s 30th anniversary. The company released Han Sung No. 2 in the following year. A

South Korea's low-cost carriers suffered an extended loss in the first quarter as the coronavirus continued to weigh on travel demand, data showed Tuesday, raising concerns over their ability to stay afloat even after the pandemic. Budget carriers have grounded most of their flights on international routes since early 2020 as many countries placed restrictions amid virus fears, facing cutthroat competition for cheap domestic flights. While the nation's full-service carriers have managed to ma

Korea Airports Corp. said on Monday that it is on course to lead a project worth 100 billion won ($88.2 million) to expand Luang Prabang International Airport in Laos. Once the ongoing deal is finalized, the move will see the public enterprise behind Gimpo and Jeju International Airports become a first in the country to pursue such a project in the Southeast Asian country. “Amid the prolonged coronavirus crisis and hardships surrounding it, we are honored to announce our foray into succe

South Korean airlines will raise fuel surcharges on international routes next month amid rising jet fuel prices, industry sources said Monday. Starting June 1, the surcharge for one-way tickets on international routes will range from 3,600 won ($3.20) to 20,400 won depending on the routes, according to the sources. The amount is up one level from the band of 1,200 won to 9,600 won for this month. Rising jet fuel prices prompted local air carriers to begin imposing fuel surcharges in April af

Financially troubled budget carrier Eastar Jet said Monday it has begun an open auction to find an investor after selecting a preliminary preferred investor last week. In the open bid, Eastar Jet plans to receive letters of intent from interested companies by June 14 and select a final investor afterward, Eastar Chief Executive Kim You-sang said over the phone. On Friday, Eastar signed a contract with an unidentified local investor and obtained approval for the preliminary deal from the Seoul

Hyundai Motor Co., South Korea's biggest carmaker, said Sunday it has signed a deal with the Democratic Republic of Congo to export 500 Palisade sport utility vehicles as part of its export diversification strategy. Of the 500 Palisades, Hyundai shipped 250 units to the African country on Saturday, with the remaining 250 set to be delivered in late July, the company said in a statement. The export volume is sharply up from 45 vehicles the company exported to the central African country last

Prosecutors on Friday indicted the founder of cash-strapped budget carrier Eastar Jet for embezzlement and breach of trust. Lee Sang-jik, an independent lawmaker, faces several charges including causing about 43.9 billion won (US$38.8 million) in losses to the airline by underselling company shares to a subsidiary owned by his children in 2015. He is also suspected of embezzling about 5.3 billion won from its affiliates. Lee was arrested late last month, after the National Assembly passed a

Less than five months since launch, Porsche Korea sells nearly 500 of its first electric sports car

Hyundai Motor Co. sold more than 500,000 units of vehicles under its independent Genesis brand since its launch five years ago, the company said Wednesday. Hyundai sold 378,999 Genesis vehicles in the domestic market and 121,192 units overseas since November 2015, the company said in a statement. The Genesis brand has advanced to the United States, Canada, the Middle East, Russia, and Australia, with a plan to make inroads into China and Europe this year. The Genesis lineup consists of the G9

Korean Air Lines Co. and Asiana Airlines Inc., South Korea's two biggest carriers, said Tuesday they will expand non-scheduled flights to India this month to bring home Koreans residing there amid the spreading COVID-19 pandemic. Korean Air and Asiana said they plan to provide two and seven flights, respectively, in May to the virus-hit South Asian country. It is up from one and four flights that Korean Air and Asiana originally planned for this month. Asiana already flew two flights on route

South Korea said Tuesday eco-friendly cars, including electric models, accounted for 71 percent of the total vehicles purchased by public organizations last year, as the country continued its efforts to go carbon neutral by 2050. The country's 609 public organizations purchased 7,736 automobiles in 2020, of which 5,494 were eco-friendly models, according to the government data. Eco-friendly models include electric, hydrogen fuel cell and hybrid cars. The survey was based on public organizatio

CAS500 marks South Korea’s first all-Korean mid-sized practical satellite