South Korea’s second-largest steelmaker Hyundai Steel said Sunday that its submerged arc welding A671/A672 had been recognized as a World Class Korean Product. With the new addition, Hyundai Steel now boasts a total of 12 World Class Korean Products. The number is the largest among its peers in the steel-making industry, a feat that the company has maintained for 18 consecutive years. The World Class Korean Products scheme, jointly certified by the Ministry of Trade, Industry and Energy an

Hyundai Motor will re-create the Pony Coupe Concept with the model’s original designer Giorgetto Giugiaro and unveil it in the coming spring, the carmaker announced Thursday at a design talk in Yongin, Gyeonggi Province. The Pony Coupe Concept is a car lost to history, as despite being unveiled at the 1974 Turin Motor Show with its prototype ready for mass production, the carmaker could not start production due to the domestic economic situation. Almost 50 years later, Hyundai Motor contac

US smartphone giant Apple said Tuesday it will voluntarily correct its unfair policy of charging greater commission fees to Korean app developers than in other markets by January next year. The decision comes after South Korea’s antitrust watchdog began a probe into the iPhone maker over its Korea-exclusive charging system that is based on consumer prices, including value-added tax. This means Korean developers are forced to pay a 33 percent commission to Apple, above the 30 percent rate i

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said Tuesday it has successfully completed the trial of its autonomous navigating system for ships. DSME conducted a two-day test of its testing ship, called DAN-V, equipped with its own autonomous navigating system last week near Jebu Island in Hwaseong City, Gyeonggi Province. The shipbuilder has been preparing for the future market of self-cruising vessels by signing a memorandum of understanding with Gyeonggi Free Econom

SsangYong Motor unveiled its wireless charging platform for electric vehicles under development on Monday at Coex, Seoul during an event hosted by the Ministry of Science and ICT. The carmaker displayed its first all-electric sports utility vehicle Korando e-motion equipped with a 61.6 kWh lithium-ion polymer battery and with a 22kW wireless charging system that can fully charge the electric vehicle in three hours. SsangYong Motor is currently trying to shorten the charging time and also trying

The number of flights landing and departing from Incheon International Airport will exceed pre-pandemic levels by next year. Incheon Airport was allotted 263,004 slots for the next summer season from late March to late October, during the International Air Transport Association Slot Conference held last week, according to Incheon International Airport Corp. on Monday. The Slot Conference is a working conference between IATA and non-IATA airlines worldwide for the allocation of slots at fully coo

South Korea’s antitrust watchdog said Suday it will come up with effective measures to restrict delinquent online sellers using popular customer-to-customer platforms such as Karrot and Joonggonara. The Fair Trade Commission will guide platform operators to voluntarily enhance their user protection system and regulate business-driven sellers who are business owners rather than ordinary individuals. This comes in response to increasing fraudulent damage and dispute cases reported from sales

South Korea saw its number of eco-friendly vehicles exceed 1.5 million in October, data showed Sunday. According to the Ministry of Land, Infrastructure and Transport, a total of 1,515,000 units of eco-friendly vehicles, including full electric vehicles and hybrids, were registered by the end of October -- a 38.3 percent surge on-year. This comes just one year and three months after the country saw the number of eco-friendly vehicles exceed 1 million in July 2021. The ministry’s data showe

South Korean oil refiner S-Oil, owned by Saudi Arabia’s Aramco, on Thursday confirmed its $7 billion massive project of building a large-scale petrochemical plant in the nation’s southeastern city of Ulsan. The so-called “Shaheen Project” is the largest investment made in Korea by Aramco that holds 63.4 percent shares in the refiner. The announcement comes as Saudi Arabian Crown prince Mohammed bin Salman was visiting Seoul to hold talks with President Yoon Suk-yeol and b

(From left) Former Swiss professional soccer player Pascal Zuberbühler, former Italian professional soccer player Gianluca Zambrotta, former Uruguayan professional soccer player Diego Forlan, Director of the FIFA World Football Museum Marco Fazzone, Hyundai Motor India, M.East & Africa Strategic Region Executive Vice President Kim Un-soo, and former Korean professional soccer player Park Ji-sung pose in front of the Hyundai Motor's FIFA Museum in Doha, Qatar, during its opening cer

Volkswagen Korea debuted the new Golf GTI, the eighth-generation of the German carmaker’s gasoline-powered hot hatch, in Seoul on Tuesday before its official launch next month. Since its debut in 1976, the Golf GTI has been recognized as a reasonably priced sports car that popularizes the new car segment “hot hatch.” The upcoming Golf GTI is equipped with the EA888 2.0-liter inline 4-cylinder turbocharged gasoline engine with a maximum horsepower of 245 and a maximum torque of

South Korea’s largest air carrier Korean Air’s buyout of Asiana Airlines faced yet another hurdle, as the US antitrust regulator decided to conduct a more thorough investigation before granting approval of the merger. The US Federal Trade Commission was expected to announce its decision this week, but informed Korean Air on Wednesday it would need more time for a thorough evaluation, according to the Koran air carrier. In March, the US antitrust watchdog evaluated that when merged

Porsche Korea aims to strengthen its brand presence in esports as part of its marketing strategy to reach out to younger customers and let them experience the brand in a new way, according to the carmaker. In response, Porsche Korea signed a partnership agreement with the South Korean esports team DRX last year to support them for three years and host various esports activities. Team DRX, sponsored by Porsche Korea, won the LoL World Championship finals in San Francisco on Nov. 6, scoring 3-2 an

South Korea’s Fair Trade Commission chief hinted Monday at tighter scrutiny of local platform operators like Kakao that enjoy an almost monopoly status. Referring to the recent nationwide meltdown of Kakao services following a fire at its main data center, FTC Chairman Han Ki-jeong said there is a need to effectively correct the adverse effects of monopoly power. “We will be revising regulations that hinder innovative companies from entering the online platform market and also regula

As the automobile industry transitions towards electrification, GM Korea is establishing new safety measures to address potential risks associated with new technologies in manufacturing electric vehicles. Wayne O’Brien, chief safety officer at GM Korea, told The Korea Herald last week that electrification program does bring different safety exposures, particularly in the form of energy, and that they are in the process of developing robust systems to help employees understand all the criti

South Korea’s biggest startup festival event Comeup 2022 kicked off in Seoul on Wednesday, with SMEs and Startups Minister Lee Young stressing regulatory reform and globalization as the two keywords for the nation’s startup ecosystem. “Regulations that are limiting potential of innovative startups are those that have been implemented during the industrial period. We will be bold in loosening such regulations to help startups open up their wings,” said the minister during

Renault Korea said Tuesday it sold a total of 2,007 units of the QM6 in October, as the top-selling LPG SUV increasingly appeals to drivers with its spacious interior and comfortable driving. The sales figure accounted for nearly half of the total car sales of the French carmaker, at 4,339 last month. The car’s exports also surged 41.9 percent to 2,449 units compared to the same period last year. The carmaker picked the car’s spacious interior as the key point of attraction to local

Major business lobby groups on Monday urged the National Assembly to swiftly approve a corporate tax reduction bill that the Yoon Suk-yeol administration introduced in July to help local businesses better respond to widespread fears of an economic recession on time. The nation’s six business groups, led by the Korea Chamber of Commerce and Industry, released a joint statement contending that the new measure should be implemented within this year for it to be effective by the second half of

South Korea’s Transport Ministry announced Wednesday that it will begin operating an autonomous driving transportation service that can transport tourists and local residents around Jeju Island starting from Thursday. The autonomous driving vehicles will travel two routes. One will travel 16 kilometers back and forth from Jeju International Airport to the road along the coast of Jeju Island passing through Yongduam Rock and Iho Tewoo Beach, and the other will travel 5 kilometers within the

South Korea's agricultural sector has faced a labor shortage for decades, with aging farmers and a shrinking population. To keep the rural economy sustainable, one solution might be to deploy autonomous machines that are operated through smart connectivity. Gam Byoung-woo, chief of product development division of Daedong Corporation, said his company, the largest agricultural machine manufacturer in Korea, has been offering solutions to precision farming, calling it AgTech. “If tradit