A cruise vessel is docked at a port in this file photo. (Yonhap)　Korean cruise vessels will be able to operate onboard casinos for foreign passengers when sailing overseas from as early as next year, a move which officials said will help revitalize the strained local marine tourism industry. The Ministry of Oceans and Fisheries on Tuesday announced that an ordinance to support the local cruise tourism industry was approved by the Cabinet, and authorities will gear up to encourage more local play

BMW has long reigned in the country’s imported car market and is now gearing up to consolidate its status with four new models scheduled to be out starting September. “Carmakers tend to upgrade their models on a regular basis, but this year is even more exciting with some of the best models being revamped or undergoing a full change,” a publicist for BMW Korea said. 　 The New 3-seriesThe 3-seriesThe iconic sports sedan New BMW 3-series will be back in September with both sedan and wagon models.

Sylvain Costof, managing director of Montblanc KoreaMontblanc Korea CEO on Thursday announced that the Swiss luxury maker is set to win the hearts of younger customers with high-tech devices and a wider range of products in order to achieve its planned double-digit growth here. This will start with the launch of a digital watch strap in August, followed by the introduction of 400 items and aggressive online marketing tailored to tech-savvy and contemporary clientele, said Sylvain Costof, managin

At the age of 60, Lotte Korea chairman Shin Dong-bin finally achieved his desire of getting a full grip of Lotte in Japan. Lotte Holdings of Japan announced last Thursday that the board of directors unanimously agreed to name him the company’s president. Now Lotte Holdings has three presidents -- Shin Dong-bin, his father and Lotte founder Shin Kyuk-ho and Japanese CEO Tsukuda Takayuki. But there is little doubt that Shin has overall control of the firm. In March, Tsukuda was seen “bowing polite

France`s President Francois Hollande (left) welcomes German Chancellor Angela Merkel prior to a meeting in Paris on July 6. (AP-Yonhap)BRUSSELS (AFP) -- On the frontline of the Greek debt crisis, the Franco-German partnership has been in open conflict with Chancellor Angela Merkel and President Francois Hollande deeply divided over how far to go to keep Greece in the eurozone.On Monday, Greece reached a desperately-needed bailout deal with the eurozone after marathon overnight talks, in a histor

INJE, Gangwon Province -- Top management of Ssangyong Motor, the South Korean unit of India‘s Mahindra & Mahindra, has recently expressed hope for a turnaround next year, setting the detailed sales target. "Despite difficulties and challenges ahead in overseas markets, I expect the company will be able to achieve a turnaround next year by selling 170,000 to 180,000 units,’’ said Choi Johng-sik, CEO of Ssangyong Motor focusing on SUVs.  Ssangyong Motor CEO Choi Johng-sikHe made the projection at

BMW Motorrad launched the New S1000 XR, the first “adventure sports” bike for BMW. It is facilitated with the four-cylindrical engine boasting 160 horsepower at 11,000 rpm and can be driven in “Dynamic” and “Dynamic Pro” modes. The BMW new S1000 XR is priced from 26.2 million won ($23,100).

Volvo Truck Korea launched its Volvo FL series for the first time in Asia, aiming at selling more than 4,000 units a year by 2020. The truck is facilitated with the 280 horsepower-D8K “Euro 6” engine, which allows powerful yet stable performance at the 950-1,700 rpm.