LG Chem CEO and vice chairman Park Jin-soo meets with participants Friday at its recruiting event held in Tokyo‘s New Otani Hotel, where Park shares the company’s vision with around 40 students invited from Japan’s top 10 universities. (LG Chem)

A senior researcher at Hyundai Motor has said that it will take much longer for electric vehicles to become mainstream in the global auto market than industry expectations.Global institutions including the International Energy Agency recently predicted that eco-friendly cars would secure more than half the global vehicle market share by 2030. Hyundai Motor“The prediction is too optimistic. In order for EVs to become mainstream like smartphones are now, there should be at least more than 100 asse

Daewoo Shipbuilding & Marine Engineering on Thursday denied swirling market speculations that it could be acquired by its rival Samsung Heavy Industries.“We are seeking ways to survive through additional self-rescue plans,” said the company’s spokesperson.“The creditors have not reviewed the plans for the normalization by selling the firm to Samsung Heavy Industries.”The remark came after multiple local reports that DSME’s creditors would review the sales to Samsung Heavy in August after Mckinse

A total of 21 big firms, including troubled Daewoo Shipbuilding & Marine Engineering and local discount chain Homeplus, received the lowest grades in an independent survey that measured their efforts in forging mutuality with their subcontractors last year. The worst performers also include Kumho Petrochemical, Booyoung Group’s construction arm, 3M Korea and Seoul Semiconductor, according to the Korea Commission for Corporate Partnership, an independent watchdog on corporate activities on Thursd

Samsung SDS, a key information and technology arm of Samsung Group, has partnered with German software firm SAP to jointly work on enterprise cloud business, the company said Wednesday. The two tech firms signed a memorandum of understanding for the future partnership at Samsung SDS’ head office in Seoul.  Samsung SDS CEO Chung Yoo-sung (left) and SAP’s executive board member Bernd Leukert attend a signing ceremony in Seoul on Tuesday. (Samsung SDS)Samsung SDS said it plans to provide its client

Online stock channel Segero TV is a breath of fresh air in the stock industry, with its focus on volunteering work. Segero TV run by Kim Won-ki, a stock analyst who has been in the industry for more than 30 years, is one of the most sought-after stock channels for the invention of its own ways to help investors reap profits from undervalued companies with high growth potential. Its new method is to better make up for principal without sales loss based on diverse technical analysis, the company s

Seho Tech, a local chemical materials supplier, is expanding its business into the global market with its eco-friendly chemical solutions, the company said. Seho Tech is the nation’s first company to commercialize the technology to recycle polyurethane foam in 1997 after long years of research to reduce carbon emissions generated from incinerating waste building materials. In 2008, the firm again succeeded in recycling the foam into polyol, used in many sectors, including panels for buildings, r

Hyundai Motor, South Korea’s largest carmaker, views Britain’s departure from the European Union as an imminent threat and not an opportunity to outpace its Japanese rivals that are expected to suffer from surging yen and tariff walls.“Internally, we view that threats from the faltering European economies are larger than opportunities presented from the stronger yen sparked by Brexit,” a source at the company told The Korea Herald. “This is because we have seen the European market as stable and

Mercedes Benz said Sunday it was set to roll out four luxury models later this year, after garnering attention at the Busan Motor Show earlier in the month.“We plan to unveil the full lineup of dynamic, young roadsters and modern, luxury Cabriolets in the second half of this year, with an aim of meeting high-end consumers’ needs,” said an official at Mercedes Benz Korea. The new S-Class Cabriolet, the first convertible variant of the Mercedes-Benz luxury flagship, will enter the Korean market al

The nation’s second-largest automaker Kia Motors topped a car quality survey by the U.S.-based business consultancy agency J.D. Power, the carmaker said Thursday.It is the first time in 30 years that a Korean brand has topped rankings by the U.S. firm.Porsche ranks second, followed by Hyundai, Toyota and BMW. The initial quality survey is based on responses from purchasers and lessees of new 2016 model-year vehicles sold in the U.S. market. J.D. Power received more than 80,000 surveys from vehic

The nation’s top mobile messenger operator Kakao Corp. expects a profit from its navigation app Kakao Navi later this year, through marketing collaboration with local companies.Kakao Navi was launched in February after the company bought popular navigation service Kimgisa last year in a major merger deal. “We are in talks with several companies to better promote the app (and are) aiming to unveil it in the second half,” Kakao’s official told The Korea Herald. The new Landmark Service will enable

Robert Bosch Korea’s chief has spoken up to defend diesel cars from mounting criticism that their engines are the main culprit for fine dust emissions that worsen air quality here.“Based on today’s technologies as well as (what) Bosch is offering, we do believe diesel is very clean and (used in) eco-friendly engines and (it) is also meeting emission standards,” Frank Schaefers, the head of the German engineering company’s Korean unit, said during a news conference in Seoul on Thursday.  Frank Sc

General Motors Korea has been hit by another setback after the prosecution found some dubious cash flow in the automaker’s recruiting process. Investigators are looking into allegations that some executives and members of the labor union were bribed in exchange for hiring subcontract workers to full-time regular workers. The new revelation came amid ongoing investigations into other corruption charges involved with its suppliers. The Incheon Prosecutor’s Office said earlier this week that it is

Hyundai Motor said Tuesday it would not postpone the domestic rollout of its diesel cars despite growing concerns about pollutants from the engine. “We are going to launch diesel models of Genesis EQ900 and G80 as planned,” a senior official of Hyundai Motor told The Korea Herald. Hyundai Motor’s Genesis G80 (Hyundai Motor)The automaker’s denial came amid growing speculation that the rollout of the luxury sedans’ diesel models -- slated for next year -- will be delayed because of local consumers

Korean owners of Volkswagen’s gasoline vehicles will be seeking criminal charges against the German carmaker for manipulating its software to pass emissions tests, said a legal representative here on Monday. “We are gathering customers to file class-action suits as well as criminal charges against the automaker. (For criminal charges), the system manipulation may cause an engine breakdown, which may lead to physical damages to users,” Ha Jong-sun, a lawyer at Barun that represents those customer