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Ssangyong Motor debuts diesel-powered Tivoli

BusinessJul 6, 2015

Ssangyong Motor Co., the South Korean unit of India’s Mahindra & Mahindra, launched a diesel version of the Tivoli, its best-selling compact SUV, Monday, following the launch of the gasoline-powered model in January. Diesel version of Tivoli on the road.　The company has sought to debut the diesel-powered Tivoli, armed with better fuel efficiency and performance than the gasoline model, within the year in its effort to continue the growth momentum of Tivoli. 　Backed by the success of gasoline-po
SK, SABIC finalize joint venture deal

BusinessJul 5, 2015

SK Global Chemical and Saudi Basic Industries Corp. announced Sunday that they had agreed to establish a 710 billion won ($631.9 million) joint venture to produce and market high-performance polyethylene products based on SK’s technology. SK Global Chemical CEO Cha Hwa-youp (left) poses with Abdulrahman Al-Fageeh, executive vice president of Polymers at SABIC, in Seoul, Friday, after signing an agreement to set up a polyethylene joint venture in Singapore. (SK Global Chemical)The new 50-50 join
New Mercedes-Maybach S600 beats sales target

TransportJul 5, 2015

Exterior of the New Mercedes-Maybach S600. Mercedes-Benz KoreaZeal for the new Mercedes-Maybach S600, with a local price tag of 294 million won ($262,000), is heating up among corporate executives in Korea. According to Mercedes-Benz Korea, the model of its premium S-Class line neared its yearly target of 200 units in June, just three months since its April launch.“We introduced the two trims of S-Class cars with Maybach badges -- the Mercedes-Maybach S500 and S600 -- in April. The combined sal
Shareholder-friendly policies emerge as focal point in Samsung-Elliott battle

BusinessJul 2, 2015

A monthlong faceoff between Samsung and U.S. activist hedge fund Elliott over a proposed merger between Samsung C&T and Cheil Industries is shedding light on the importance of corporations’ shareholder-friendly policies.This week, the two key Samsung units announced plans to boost shareholder value, including higher dividend payouts and the establishment of a corporate governance committee.But it seems too soon to predict that these policies will help soothe disgruntled Samsung C&T investors wit
[Photo News] Good to Great

IndustryJun 25, 2015

GOOD TO GREAT -- World-renowned barista Paul Bassett (sixth from left) poses with staff members of the newly opened branch of the Paul Bassett coffee chain in Hannam-dong, Seoul, Thursday. The coffee chain and its local partner Maeil Dairies launched a “value management” initiative to raise the bar in specialty coffee chain management in Korea. Paul Bassett　
KAI launches W1.6tr small copter project

IndustryJun 25, 2015

Korea Aerospace Industries, the nation’s sole aircraft manufacturer, launched its 1.6 trillion won ($1.4 billion) worth small-size helicopter development project Thursday. An image of KAI’s light civil helicopter to be codeveloped with Airbus Helicopters by 2020 KAI“The Defense Acquisition Program Administration, the Ministry of Trade, Industry and Energy, KAI-led consortium and Airbus Helicopters agreed to jointly finance the project to develop light armed and light civil helicopters,’’ KAI sai
[Herald Interview] Korea urged to set ambitious climate target

IndustryJun 24, 2015

The international community is concerned about Korea’s possible retreat from its emissions reduction drive based on the four options proposed by the government for the post-2020 target.The government announced four options on June 10 to finalize Korea’s emission target by the end of this month. It plans to submit one target -- after a public consultation process -- to the U.N. before the Paris Climate Change Conference from Nov. 30-Dec. 11. “(Regarding the expectation for Korea’s post-2020 emiss
[Newsmaker] NPS pressed on corporate reform

IndustryJun 23, 2015

The National Pension Service, the nation’s largest institutional investor, is facing growing pressure to raise their voice in merger plans being pushed by conglomerates.On Monday, Solidarity for Economic Reform, a civic group pushing for reforms of family-controlled South Korean conglomerates, or chaebol, urged the fund to review the merger plan between SK Holdings and SK C&C and to decide whether to back or veto the deal before a shareholders meeting Friday. The merger plan between the two SK a
Drought may cut N. Korea's 2015 rice harvest by 12 pct: FAO

North KoreaJun 20, 2015

A severe drought may reduce North Korea's rice harvest by 12 percent this year from a year earlier, a report by the Food and Agriculture Organization of the U.N. showed Saturday, warning of the worsening food shortage in the communist country.The recent FAO report put North Korea's rice production at an estimated 2.3 million tons for this year, compared with the country's rice harvest of 2.6 million tons a year earlier. The estimated production may be less than the average amount of rice produce
Korean carmakers lead, Japan fades in annual quality study

BusinessJun 20, 2015

Kia Motors Corp. and affiliate Hyundai Motor Co. widened their lead in U.S. new-vehicle quality as Japanese automakers fell below the industry average for the first time, according to a J.D. Power & Associates survey.The two South Korean companies averaged 90 problems per 100 vehicles in the Initial Quality Study, released Wednesday, outpacing European, U.S. and Japanese competitors. Porsche was the top brand for the third year in a row, followed by Kia, Jaguar and Hyundai. The survey is based o
Shootings highlight dark past for Charleston race relations

WorldJun 20, 2015

With a dark past and complicated present, race relations have always been a challenge in Charleston, the city where police say a young white man shot nine people to death at a historic black church.The city along the South Carolina coast was once a major slave port and the site of the first shots in the Civil War. A century later, it also served as a hub for civil rights activists who frequently gathered at the church, Emanuel African Methodist Episcopal.Progress in recent decades has included t
Thailand reports first confirmed case of deadly MERS virus

InternationalJun 18, 2015

Thailand confirmed on Thursday its first known case of the deadly MERS virus, a 75-year-old man who recently arrived from Oman for treatment of a heart condition. Public Health Minister Rajata Rajatanavin said two laboratories had confirmed the results.The man has been quarantined at the ministry's infectious diseases facility, he said.He said the patient was traveling with three other family members, who also are being watched at the facility. Public health officials are also monitoring other
U.S. soldier nabbed in alleged assault

NationalJun 18, 2015

A U.S. soldier has been arrested on charges of injuring the owners of a Seoul motel who rejected her stay for breaching service rules, police said Thursday. On June 6, the 31-year-old American sergeant allegedly hit the married couple who run the motel in central Seoul after they tried to block the soldier and her acquaintances from checking into one room, the Yongsan Police Station investigating the case said. The husband returned the money to the U.S. soldier after the group, including two
Shilla hotel halts business on Jeju over MERS

BusinessJun 18, 2015

Hotel Shilla, the luxury accommodation affiliate of South Korea's biggest conglomerate, Samsung Group, said Thursday that it has suspended its business on the southern resort island of Jeju over the deadly MERS virus. Shilla said its operations will not be resumed until after concerns over the possible transmission of the Middle East Respiratory Syndrome are dispelled. It said it has asked its guests to leave the hotel on the island. The announcement came after media reports that an uniden
Blatter must resign as soon as possible: U.K. Prime Minister

SportsMay 29, 2015

A protester wearing a mask depicting FIFA President Sepp Blatter stands in front of the building where the 65th FIFA congress takes place in Zurich, Switzerland, Friday. YonhapBritain's Prime Minister David Cameron says FIFA president Sepp Blatter must resign and ``the sooner that happens the better.''Asked about the FIFA scandals at a joint press conference in Berlin with German Chancellor Angela Merkel, Cameron said it was ``unthinkable'' that Blatter was the right person to take the world soc