Premium carmaker Mercedes-Benz became the first foreign carmaker to sell more than 50,000 cars within a year in South Korea, industry data showed on Wednesday. The Korean unit of German carmaker Mercedes-Benz sold 50,718 cars in the first 11 months this year, increasing more than 20 percent from a year ago, according to data from Korea Automobile Importers and Distribution Association.  Boosted by sales of three new E-Class sedans and sport utility vehicle models, it is set to become

The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the second installment. -- Ed. Shenzhen, CHINA -- “This is the future of our company and something China will be really proud of,” Wang Fan, communications director at the world’s biggest drone maker, Dajiang Innovation Technology Co., said in front of a displayed product. And it wasn&rsquo

A large-scale investigation against Lotte Group’s businesses in China is increasingly seen here as a retaliation against the company’s decision to provide its golf club as a site to deploy the controversial US advanced missile defense system. Local media reported on Monday that Lotte appeared to be the sole foreign company under investigation in China, citing an anonymous industry source. “There are some companies which received a fire inspection or tax investigation but no co

The 53rd Trade Day commemoration event took place at the Coex Convention Center on Monday, with more than 1,400 attendants, to encourage business people and companies suffering grim exports condition this year.  The ceremony, co-hosted by the Korea International Trade Association and the Ministry of Trade, Industry and Energy, honored 760 businesses people, including Hyundai Oilbank Co. Chairman Moon Jong-bak, for their efforts to promote exports. A total of 1,209 companies received the

South Korea's foreign minister on Saturday called for China's "constructive" role in thoroughly implementing new UN sanctions on North Korea amid widespread concern about their effectiveness."It is crucial for member countries including China to play a constructive role in implementing important elements of the resolutions without leaving a loophole," Yun Byung-se told Yonhap News Agency at the Incheon International Airport. Foreign Minister Yun Byung-se (Yonhap)He was leaving for Vienna to atte

A ferry incident off the southern coast of the Korean Peninsula that caused more than 300 deaths will be made into a feature film, industry sources said Sunday.The movie, tentatively titled "Sea Tiger," will be based on a novel written by Kim Tak-hwan about divers who were involved in the2014 rescue operations on the doomed ferry Sewol.Kim wrote the book based on the testimony of late diver Kim Kwan-hong, who committed suicide while suffering from the mental and physical after effects of the int

President-elect Donald Trump broke with decades of foreign policy to speak with the president of Taiwan, prompting Beijing Saturday to accuse Taipei of a ploy but saying the move would not affect US-China ties.It was not immediately clear whether Trump's telephone call with President Tsai Ing-wen marked a deliberate pivot away from Washington's official "One China" stance, but fuelled fears he is improvising on international affairs.China regards self-ruling Taiwan as part of its own territory a

 KBS 2TV series "Descendants of the Sun" received the top prize at the 21st Asian Television Awards (ATA), the network said Saturday. The mega hit drama was named Best Drama Series at the award ceremony that took place at the Suntec Convention Center in Singapore on Friday evening. The 16-episode drama was sensationally popular not only in Korea but also around Asia, especially in China. At one point, its viewership hit 38.8 percent on its home turf.  (KBS)Its popularity made Song Joong-ki and S

Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, a news report said Saturday.Under the expected contract, valued at US$650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, according to TradeWins, a global shipping news service. This undated file photo, provided by Hyundai Heavy Industries Co., shows a container ship. (Yonh

A local court on Friday ordered police to allow citizens to march up to 100 meters from the presidential office for the rally slated for the weekend amid public anger over the influence-peddling scandal centered on President Park Geun-hye and her confidante.The decision marks an easing of restrictions from a week earlier when the court allowed protesters to march to 200 meters from the presidential office of Cheong Wa Dae. The ruling only permits the rally from 1:00 p.m. to 5:30 p.m.Organizers c

Park Geun-hye on Saturday for her alleged violations of the Constitution, which will be put to a vote at the National Assembly plenary session next week.A total of 171 lawmakers supported the motion, which accounts for every member of the three opposition parties and independents, excluding the parliamentary speaker. The motion will officially be proposed during a regular parliamentary session on Thursday, with the vote to place on Friday.Park has been facing the biggest crisis of her political

 The United States imposed additional sanctions on North Korea on Friday, blacklisting seven individuals and 16 entities, including the country's flag carrier, Air Koryo, for their links to weapons proliferation or foreign currency earnings for the regime.The Treasury Department measures came two days after the UN Security Council adopted a new package of sanctions designed to choke off major sources of hard currency for the North, including putting a cap on coal exports, its single biggest sour

South Korean idol groups Bangtan Boys (BTS), EXO and TWICE took top awards at the 2016 Mnet Asian Music Awards (MAMA) at AsiaWorld-Expo Arena in Hong Kong.K-pop boy band BTS of modest-sized Big Hit Entertainment won the Artist of the Year title, one of the event's three big honors, along with Album of the Year and Song of the Year awards, on Friday night. The band also snatched the best dance performance award for male group artists.   Bangtan Boys wins the Artist of the Year award at the 2016 M

South Korea's parliament on Saturday approved a 400.5 trillion won (US$341.4 billion) budget bill for next year after the government and parties resolved their differences over a controversial free child care program a day earlier.The National Assembly passed the 2017 spending plan in a 221-30 vote, with 30 abstentions, about four hours after the Friday deadline set by the Constitution. The total approved by lawmakers is 200 billion smaller than proposed by the government.  South Korean Prime Mi

South Korean shares are expected to move in a tight range in the coming week on rising uncertainties in eurozone and a looming interest rate hike in the US, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,970.61 on Friday, down 0.19 percent from a week ago.The index rose in four out of five sessions, but it posted a weekly loss due to Friday's selloff ahead of the Italian referendum on a constitutional change slated for Sunday. The local market got a bo

The tax investigation and safety inspection facing Lotte Group in China this week has sparked concerns Friday that the neighboring country is pressuring Korean companies in retaliation over South Korea‘s decision to deploy a US advanced missile defense system here. The Chinese government has not revealed the reason behind the large-scale inspection, but analysts believe it is linked to the decision by Lotte Group to host the Terminal High Altitude Area Defense system on a Lotte-owned golf

South Korea’s consumer prices continued to rise more than 1 percent for the third consecutive month amid the soaring prices of agricultural goods. Prices of agricultural products jumped 7.9 percent from a year earlier, with prices of kimchi ingredients skyrocketing. Cabbage and radish prices soared by 82.1 percent and 120.7 percent, respectively, from a year earlier.  The service sector, which weighs most heavily on the consumer price index, rose 1.8 percent on-year, led by increase

Korea’s Industrial output fell for the second consecutive month in October, falling 0.4 percent from the previous month, data released by Statistics Korea showed Wednesday. Sluggish demand and exports for mobile phones and automobiles dragged down the production index, according to the statistics agency. Finance Minister Yoo Il-ho, who is also deputy prime minister, warned of the increased downward risks of Korea’s economy during a meeting of economic policymakers Wednesday. &ldqu

Ford’s luxury car division Lincoln Motor launched the all-new 2017 Lincoln Continental in Korea on Wednesday. The premium sedan is the 10th generation of the Lincoln Continental, reintroduced at a motor show in 2015 after a 13-year hiatus. The first generation was made as a holiday car for then-Ford president Edsel Ford in 1939. “Ford grew more than 150 percent in the five years in Korea. With the launch of the Lincoln Continental, we plan to accelerate the growth,” Kumar Galhotra, president of

  Chang Hye-jin, a double Olympic gold medalist in archery, was named the country's top female athlete of the year Tuesday.Chang took the highest honor at the 2016 Korea Woman Sports Awards in Seoul. The 29-year-old archer won gold medals in both the individual and team competitions at the Rio de Janeiro Summer Olympics in August.South Korean archer Chang Hye-jin celebrates after winning the gold medal in the women`s individual archery competition at the 31st Summer Olympic Games at Sambodromo i