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Wed, March 29, 2023 | 15:35
BMW launches new XM
BMW Korea held a ceremony in Korea, Tuesday, launching the XM, which it describes as an ultra-high-performance sports activity vehicle (SAV). BMW introduced the legendary M1 sports coupe in 1978 and the XM is the first plug-in hybrid electric vehicle (PHEV) in the M high-performance lineup.
KITA vice chairman paints bleak picture of Korea's exports this year
Korea's exports will likely contract by as much as 9 percent this year, if semiconductor makers and other major exporters continue to face a decline in demand for their products overseas amid a deepening global economic downturn, according to the Korea International Trade Association (KITA), Tuesday.
POSCO's 135-day Pohang plant recovery dubbed 'miracle'
Pohang - POSCO's fully restored Pohang Works was busier than ever, just six months after the devastation of Typhoon Hinnamnor, which flooded key facilities and forced the company to halt operations for the first time in 49 years. On Sept. 6, 2022, the steel mill was flooded with water due to the super typhoon, but just 135 days later, the plant is once again in full swing pro...
LS constructs nickel sulfate plant in Asan to bolster EV battery materials output
LS Group completed construction of a nickel sulfate plant, strengthening its next-generation battery core material business. LS said, Monday, that the plant, located in Asan, South Chungcheong Province and operated with affiliate Toricom, is capable of producing 5,000 tons of the key material for electric vehicle (EV) batteries.
KCCI chief stresses communication, expo, and new entrepreneurship marking 3rd year
SK Group Chairman Chey Tae-won entered his third year, Friday, as head of the Korea Chamber of Commerce and Industry (KCCI), one of the leading business lobby groups in the country. Chey plans to broaden communication and focus all of his efforts in helping Busan win its bid to host the World Expo 2030. The keywords for the chairman's third year in office are communication, E...
Genesis launches 2023 G90 sedan
Hyundai Motor's luxury brand said Friday it began sales of the 2023 Genesis G90 sedan, featuring expanded options including a 3.5-liter V6 twin turbo gasoline engine with added power provided by a 48V electric supercharger (e-S/C) as well as improved safety and convenience specifications.
POSCO International fosters CCS business as new growth engine
POSCO International has been speeding up the commercialization of carbon capture and storage (CCS) to be its future growth engine, according to the company, Tuesday. The move comes after carbon neutrality by 2050 was set as a national task and legislation was expanded for carbon dioxide capture, transportation and storage.
Will Samsung Electronics resume large-scale buyouts by acquiring Rainbow Robotics?
Samsung Electronics has been seeking to conduct large-scale buyouts for years and the company's recent purchase of shares in Rainbow Robotics, a robot development company, is drawing attention, according to industry officials, Monday. Samsung Electronics virtually stopped its corporate acquisitions after acquiring Harman, a U.S. automotive electronics maker, in 2017 for 9 tri...
Can FKI regain status as leading business lobby?
The Federation of Korean Industries (FKI) succeeded in bridging Korea-Japan economic ties by hosting a meeting between major business conglomerates in the two countries last week. The heads of four major Korean conglomerates, including Samsung Electronics Chairman Lee Jae-yong, took part in the FKI event, which signaled a resumption in the role of the business lobby group aft...
Number of int'l flights recovers to 70% of pre-COVID-19 level
As the number of international flight passengers is rapidly rising to pre-pandemic levels, domestic airlines are scrambling to expand international routes and add more airplanes to their fleets. According to the Ministry of Land, Infrastructure, and Transport, Sunday, the number of passengers on international flights stood at over 4.5 million in both January and February, con...
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