The joint K-pop concert, dubbed Dream Concert, for this year is drawing heated attention, its official sponsor Hyundai Oilbank said Sunday.The event, one of the nation’s largest concerts featuring a group of Korean pop singers, is scheduled to be held at the Sangam World Cup Stadium in Seoul on May 12.Hyundai Oilbank revived the Dream Concert in 2010 after Hyundai Heavy Industries took over the petroleum and refinery firm from foreign capital. “The concert had to suffer suspension for a certain

Foreign automakers aggressive in launching models priced under 30 million wonA series of import cars with relatively low price tags are aggravating the worries of Korea’s automakers, who are suffering a continuing drop in month-on-month vehicle sales at home.“Cheap import cars have emerged as a threat not only to Hyundai-Kia but companies which operate manufacturing factories in Korea ― GM, Renault Samsung and Ssangyong,” said an executive in the local automotive industry.Among the foreign playe

K9, New Santa Fe  to compete with   U.S.-manufactured  Japanese models Hyundai Motor and Kia Motors are signaling fierce competition with import car brands in a bid to protect their dominant market share at home.Following Hyundai’s launch of the third-generation Santa Fe in April, its affiliate Kia will unveil the K9, a luxury premium sedan, on May 2.Hyundai Motor has more than 40 percent of the local market while its affiliate Kia Motors’ market share hovers at 30 percent.But their position has

The nation’s top financial regulator called on the banking industry to expand their social contribution activities during a meeting with 18 CEOs of banks on Monday.“The financial sector has been criticized for glossing over difficulties of the underprivileged,” Financial Supervisory Service Gov. Kwon Hyouk-se told the participants.“In proportion to their earnings, banks should have a deeper engagement with charities and causes for their own business interests,” he said. The FSS chief’s remarks c

Some brokerages forecast chipmaker’s share price to hit 2 million wonSamsung Electronics stocks surpassed 1.4 million won ($1,240) per share during the trading session on Monday, hitting a record-high.Predictions emerged in the market that stocks of the world’s biggest memory chipmaker would eventually reach 2 million won within several months.After climbing to 1.409 million won on the main bourse, Samsung Electronics stocks closed at 1.39 million won, up 16,000 won, or 1.16 percent, from a trad

Shinhan Financial Group is widening the scope of its social contribution activities to education, the environment and culture.The group has been pursuing philanthropic work since its flagship Shinhan Bank became the nation’s first commercial bank to file a “corporate social responsibility” report six years ago.Among the group’s activities are offering scholarships for kids in need, launching forestry protection programs, preserving cultural historic assets and offering business classes for North