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Reporter : Kim Hyun-bin
Fri, July 1, 2022 | 02:30
Lexus unveils first EV lineup in Korea
Lexus Korea launched its first pure battery electric vehicle (BEV), UX 300e, and the first plug-in hybrid (PHEV), NX 450h+, in the local market, Wednesday. With this latest launch, the company plans to build a full lineup of electric vehicles and aims to work towards carbon neutrality.
Lotte Group Chairman in Europe to seek business partnerships
Lotte Group Chairman Shin Dong-bin is in Europe to meet with major business partners in France, Germany and the U.K. to expand investments and seek cooperation with European companies, including luxury goods and food and beverage companies. The move comes as the demand for European luxury goods in domestic department stores is steadily on the rise, and all eyes are on how Cha...
KITA calls for resumption of cargo transportation
The Korea International Trade Association (KITA) is calling for the swift resumption of cargo transportation nationwide, claiming small companies have been suffering from the ongoing strike by truckers affiliated with the Korean Confederation of Trade Unions (KCTU), according to KITA officials, Tuesday.
Conflict intensifies between labor and management over peak wage system
Tensions between management and labor unions have been growing, following a recent Supreme Court ruling that the current peak wage system is tantamount to age-based discrimination as it cuts wages after a certain age without a rational reason, according to industry officials. Unionized workers at large companies are demanding the abolition of the peak wage system, while manag...
'SK Innovation to focus on carbon free, eco-friendly portfolio'
SK Innovation Vice Chairman Kim Jun announced the company's plans to accelerate the innovation of eco-friendly business models in line with the global trend of carbon neutrality, focusing on the areas of electrification and recycling. He made this announcement about the company's future business direction at the SK Innovation Global Forum held in San Jose, California, Saturda...
Samsung chief visits Germany to seek cooperation with carmakers, semiconductor-related firms
Samsung Electronics Vice Chairman Lee Jae-yong visited Munich, Germany reportedly to seek cooperation with automakers and semiconductor-related firms. Munich hosts the headquarters of BMW and semiconductor-related firms such as Siemens, according to company officials. Lee's chartered flight, which arrived in Budapest, Hungary, on June 7, departed for Munich the following day.
Korean Air slammed for poor inflight service
Korean Air has been slammed by customers and even its flight attendants for providing poor inflight services, including insufficient meals and supplies during flights at a time when ticket prices more than doubled compared to pre-COVID times, according to passengers and critics Thursday. There have been numerous posts and comments online by passengers criticizing Korean Air's...
Hyundai tests level 4 autonomous driving
Minister of Land, Infrastructure and Transport Won Hee-ryong, center, poses in front of an IONIQ 5 at a test drive event in Seoul, Thursday. From left are Jin Mobility CEO Lee Sung-wook, Hyundai Motor Group R&D Head Park Chung-kook, Minister Won, Seoul Mayor Oh Se-hoon, and Hyundai Motor Group Strategic Planning Division President Kong Young-woon. Hyundai Motor Group anno...
Korean EV makers struggle to compete with Chinese, German rivals
Korean electric vehicle (EV) and battery makers have seen their global market shares decline amid intensifying competition with Chinese and German rivals, according to industry officials Wednesday. The officials are calling on the government to expand investments to help EV and battery makers bolster related infrastructure and make inroads into emerging markets.
Korea's exports to China decline due to competition from Taiwan and ASEAN
Korean products are losing ground in the Chinese market due to increased competition from Taiwan and ASEAN rivals, according to data and comments made by industry officials, Wednesday. The officials say a new strategy is needed to enhance Korea's position in China to regain its status as the top exporter to the country. Taiwan has been leading the Chinese market since 2020. T...
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