The first offshore fuel cell system plant for South Korea’s biggest carmaker Hyundai Motor Group will be established in Guangzhou, China, the automaker said Friday. The automotive group said it signed an investment contract with China’s Guangdong provincial government to establish an offshore fuel cell system production facility in Guangzhou there. The investment is part of its efforts to advance its leadership in the global hydrogen industry, and to support the industry rapidly

Kia announced Friday a new brand strategy and future ambitions to transform the company to go beyond vehicle manufacturing to create mobility solutions for customers. In a digital showcase event on the company’s official YouTube channel, South Korea’s second-largest automaker announced a new corporate name removing “Motors” from its previous name of Kia Motors Corp. This signals the brand breaking away from its traditional manufacturing-driven business model to expan

A month into its operation, Starbucks Coffee Korea’s first store committed to making a better workplace for workers with disabilities is showing early success, the coffee chain said Thursday. In early December, Starbucks Korea opened a new store inside Seoul National University Dental Hospital, filling half of its 12 staff positions with people with disabilities. From the initial design stage, the US-based coffee chain took in opinions to make the outlet a disability-friendly space fo

Ford Sales and Service Korea will release six new vehicles to gain an edge in the South Korean market, the automaker said Wednesday. Revealing the company’s business plan for 2021 in an online media conference, Ford Korea’s Managing Director David Jeffrey said the company aims to achieve strong growth in 2021 by focusing on the sport utility vehicle segment. “We approach 2021 full of energy, with a strong plan to launch relevant and exciting new vehicles that will ensure t

Responding to heightened public interest in environmental protection, Nongshim will aggressively promote its vegan food brand Veggie Garden this year, the South Korean food company said Tuesday. Veggie Garden is a convenience food brand developed by the Nongshim R&D Center and the group’s affiliate Taekyung Nongsan, using a manufacturing technology for plant-based meat alternatives. “After we came up with our test products in 2017, we worked with famous vegan chefs in Seoul t

General Motors Korea pulled off a strong performance last year in overseas markets, the automaker said Tuesday. The company shipped 285,499 vehicles overseas last year, ranking top among foreign-invested car brands here in terms of export volume, the company said. GM Motors beat Renault Samsung Motors and SsangYong Motor by about 14 times. In the domestic market, GM Korea said it sold 82,954 cars in Korea in 2020, losing by a small margin to Renault Samsung and SsangYong, which sold 95,93

After hitting an all-time high in sales last year, Volvo Cars Korea is aiming for another record-breaking year, with a plan to sell 15,000 vehicles. To achieve that goal, it plans to invest 50 billion won to augment service networks and hire more staff. According to the automaker, it sold a total of 12,798 units in Korea last year which was its best performance since establishing a presence here in 1998. The figure was an increase of 21 percent from the year before. This year, the automak

Volkswagen’s flagship sedan, Passat GT, has returned to Korea, with its base in the European model and with smarter technology to assist drivers. Introduced in 1973, the Passat has been one of the German automaker’s global best sellers, with over 30 million units sold around the world. The company introduced the fifth generation Passat in South Korea in 2005. Up to 2018 and through the eighth-generation Passat GT, it has sold 36,000 units of the car here. Both types of Passat,

Coway has nominated Seo Jang-won, the current chief financial officer and an expert in strategic planning, as the new co-chief executive officer to strengthen its overseas businesses, the company said Sunday. The electronic home furnishing rental firm said Seo’s promotion has been decided in the latest senior executive reshuffle, and the official appointment will be in a board meeting slated in February. With the reshuffle, the company will be led by two chiefs, the incumbent CEO Lee Ha

Homeplus CEO Lim Il-soon intends to resign after leading the hypermarket chain for three years, the company said Thursday. Lim, the first female CEO in the industry, told the company last year that she wished to resign for personal reasons, and the company recently accepted her resignation. Since she was appointed to lead the retail giant in October 2017, Lim has been responsible for many industry firsts, Homeplus said. In 2019 Lim decided to convert some 15,000 contract employees to f

Starbucks Coffee Korea on Thursday launched a set of limited edition Playmobil toy figurines, hoping to re-create the successes of their previous merchandise collections. Customers can get one of six tall-size beverages with an accompanying Playmobil figure for 12,000 won. In collaboration with the famed German toymaker, the coffee chain will release a total of eight different Playmobil figurines this month, while the drink and toy combo -- named the Buddy set -- will end on Feb. 3. The fir

South Korea’s second-largest automaker Kia Motors unveiled a new logo and a brand slogan on Wednesday, as the company aims to transform its image to one of future mobility. The new logo and the slogan, which is “Movement that inspires,” comes as part of the automaker’s mid- and long-term strategy announced last year, which outlines the automaker’s plans to become a leading firm in the future mobility industry, the company said. “The new logo symbolizes Ki

Ford’s popular Explorer sports utility vehicle is to return with upgrades to its powertrain and design, Ford Sales and Service Korea said Wednesday. The automaker said it was rolling out the New Ford Explorer Platinum, with functions enhanced from the Explorer 2.3 Limited. The New Ford Explorer is equipped with 3.0-liter Ecoboost V6 gasoline engine that puts out up to 370 horsepower and a maximum torque of 54 kilogram-meters. The carmaker has fully digitized the 12.3-inch cockpit a

With icy cold weather hitting regions across the country, concerns are rising about increased car accidents on black ice. To be prepared for emergencies, Victorinox presented its Rescue Tool, a continuation of its flagship Swiss Army Knife series that boasts 15 tools useful in such situations. According to the knife manufacturer and luxury watchmaker on Tuesday, among the tools are a one-handed serrated locking blade for precise cutting, a seatbelt cutter in case the user becomes entangled and

Yuhan-Kimberly will get a new chief executive on Friday -- Chin Jae-seung, the company’s vice president of marketing and innovation. He will replace Choe Kyoo-bok as CEO. The appointment of Chin was decided at a board meeting in December. 　 According to Yuhan-Kimberly, Chin, 56, has served in several management roles since joining the company in 1989. After years in product research and development, the executive has since 2010 led business segments including baby and child care, fe

Coupang will reorganize its top leadership so that it has two representative directors instead of the current four, the e-commerce platform said Wednesday. Two incumbent directors, Kang Han-seung and Park Dae-jun, will retain their posts, while the others will no longer hold the title. 　 Kim Bom-seok, the company’s chief executive and one of its outgoing directors, will serve as the chair of its board and will focus on establishing its strategic direction, Coupang said. The other outgo

Hyundai Steel is the first company in the world to develop a technology that can completely eliminate emissions from its blast furnaces, the company said Tuesday. According to South Korea’s No. 2 steelmaker, it has successfully “purified” hazardous gas inside a blast furnace using the “First Safety Valve,” during the process of re-ventilating hot air inside the furnace after general maintenance. After toxic gas emissions at its furnace breathers were pointed out

The COVID-19 crisis has dealt a severe blow to small businesses as a whole, but the latest data on business closures reveals some have suffered more than others. Karaoke lounges, indoor golf ranges and DVD rooms were hit hardest by the pandemic with the biggest increases in closing rates, according to the report by a state-run Korea Development Institute. The think tank at the request of the government analyzed the second-quarter business closure data to find that closures in the three type

As environmentally-friendly vehicles grow in popularity, consumer claims of defects in their electric vehicles have multiplied in recent years, latest data shows. According to the Ministry of Land, Infrastructure and Transport and Korea Transportation Safety Authority on Monday, the number of electric vehicles registered in the country is 131,923 as of November, a 12-fold increase from 10,855 at the end of 2016. Complaints of faulty vehicle parts grew even faster during the period. A total o

Local convenience store chain GS25 is bringing instant vegan tteokbokki to its stores, the company said Monday. Tteokbokki is a popular Korean street food of rice cakes in chili sauces. 　 The products, under the name Veggie Garden, are 100 percent meatless, and have been certified vegan by the Korea Agency of Vegan Certification and Services, a non-profit organization that has been approved by the Ministry of Food and Drug Safety. The company said the products have removed all possible conta