Grand Korea Leisure, which runs three foreigners-only casinos in Korea under the “Seven Luck” brand, is reviewing a plan to open another casino in Yeongjongdo Island, Incheon, home to the Incheon International Airport. “It is true that we are conducting a feasibility study for a casino on the island, but no details (on the project) have been discussed yet,’’ Choi Ji-young, a company spokesperson said. The official comment came after a local economic daily reported that GKL has formed a partnersh

A growing number of people living in cities are packing up, when the spring starts, to escape the hustle and bustle of their daily life, and to take a pause amid the nice weather. This seasonal factor boosts demand for family and leisure-oriented cars, including sport utility vehicles. The new BMW X3, a midsize luxury SUV by the German carmaker, could be one of the best options for those who gear up for not only dynamic driving, but also safe driving with their family. It has returned with impro

Hyundai Steel, a steel arm of Hyundai Motor Group, said Wednesday that the company would take over its sister steelmaker Hyundai Hysco as part of its efforts to become a global steel giant. “The corporate board approved the deal and will host a shareholders meeting on May 8 for endorsement,” the nation’s second-largest steelmaker said in a regulatory filing to the financial authorities. “We are expecting to close the deal by July 1, after passing the review by the nation’s antitrust watchdog Fai

Two veterans of Chevrolet racing team pose next to the upgraded racing car Cruze at the Chevrolet booth for the 2015 Seoul Motor Show, while announcing that they are ready to join the 2015 CJ Hello Mobile Superrace Championship. (GM Korea)

The government unveiled Tuesday a new label for plug-in hybrid electric cars, which displays fuel economy for both modes of operation ― electricity and gasoline. “The move is aimed to clear up customers’ confusion about the fuel economy of incoming new types of vehicles,” said Kim Sang-mo from the Industry Ministry. A plug-in hybrid electric vehicle can switch to a gasoline-powered operation from the electric mode when it comes to long-distance driving. PHEV’s dual-mode offers better fuel econom

POSCO, the nation’s top steelmaker, is stepping up its efforts to expand its auto steel business for global automakers. The steelmaker said Monday it plans to open a technical service center in Detroit, where the U.S.’ top three automakers run their production line, within this year. “We expect the center to strengthen customer services for U.S. auto giants,’’ a company spokesperson said.  Renault Samsung’s futuristic concept car Eolab, whose superlight roof was formed using POSCO’s magnesium sh

Hyundai Motor, the nation’s largest carmaker, broke ground Friday to build its fourth car production plant in China in an effort to expand its annual production capacity to 1.65 million units by 2018.The carmaker will complete the plant, which will have a maximum annual production capacity of 300,000 units, in Changzhou City, Hebei province by the end of 2016, the company said.The plant will be able to produce 200,000 small vehicles in the initial stage and later increase the capacity, the compa

Hyundai Motor unveiled its new crossover utility concept car “Enduro,” also known as “Project Hnd,” for the first time at the media preview for the 2015 Seoul Motor Show on Thursday. The biannual automotive event will be held April 3-12 at KINTEX in Ilsan, Gyeonggi Province.The 12th concept car, developed at the company’s Namyang technology research center, takes its name from the word “endurance” to represent the vehicle’s sturdy and solid aspects. The Enduro is equipped with a 2.0-liter T-GDi

Porsche Korea debuts its new 911 Targa 4 GTS in Korea during the Seoul Motor Show, along with some of the latest facelift versions of its popular models. “The model highlights Porsche’s typical sports car DNA,” Kim Geun-tak, representative and managing director of Porsche Korea, said at the media preview on Thursday. Porsche’s new 911 Targa 4 GTS (Porsche Korea)The German luxury sports car brand released the Targa 4 GTS last year in celebration of the 50th anniversary of the birth of the 900 Tar

The all-new Lincoln MKX, a luxury midsize sport utility vehicle, is out to lure young Korean buyers at the Seoul Motor Show, Ford Motor Korea said in a press release. MKX is the third strategic model that Lincoln, Ford’s luxury division, will debut this year for younger Korean buyers, following the 2015 luxury sedan MKZ and the MKC, Lincoln’s compact SUV.  The all-new Lincoln MKX, a luxury midsize SUV (Ford Korea)Lincoln’s luxury crossover SUV shares the brand’s new signature split-wing grille w

LS Cable & System, Korea’s largest power cable maker, said Tuesday it had secured the exclusive right to supply 220 kilovolt-power transmission cables to ESB Networks, an Irish national power company. “It is a meaningful contract because the Korean cable maker won the contract by defeating the European cable makers that had been dominating the market,” the company said in a press release. The four-year contract will expire in 2018, but includes renewable options.The cable to be supplied by LS C&

Hyundai Motor Group chairman Chung Mong-koo topped in the nation’s 2014 executive pay ranking with a salary of 21.6 billion won ($20 million), according to a financial regulatory filing released on Tuesday.Chung received payment from the group’s four affiliates ― Hyundai Motor, Hyundai Steel, Hyundai Mobis and Hyundai Engineering & Construction ― where he served as a registered director in fiscal 2014.                                                          Chung Mong-kooShin Jong-kyun, CEO of

Foreign residents exchange views on Korean culture after watching “Ode to my Father” at a CGV movie theater in Yongsan, Seoul, Friday. The event is part of the cultural experience program for foreign residents in Korea, run by CJ Group every month.  CJ Group

The 2015 all-new Genesis, Hyundai Motor’s premium sedan brand, has strengthened its footing in the global luxury car league, armed with upgraded technology. The popularity of the revamped Genesis has grown faster than its first generation model over the past year in its target U.S. market. Hyundai Motor debuted the 2015 Genesis in the U.S. last April, five years after it launched the first generation luxury sedan back in 2009 in an effort to shed its image as a value-for-money carmaker.The natio

Kia Motors will start producing small cars, including its compact sedan brand K3 ― also known as Forte in overseas markets ― in Mexico from the first half of next year, Hyundai Motor Group said in a press release. The plan was officially announced when the Korean automotive group chairman Chung Mong-koo paid an on-site visit to the construction site for Kia’s first plant in Latin America on Thursday. The sister firm of Hyundai Motor broke ground last October to build the assembly line in Mexico

SK Networks, the trading arm of SK Group, said it would introduce American Eagle, a U.S. casual apparel brand, and Canali, an Italian luxury menswear brand, to the local market in June and August, respectively. “The firm’s fashion division has completed a deal with each brand for exclusive domestic sales,” the company said in a press release.  Cho Joon-hang (right), head of SK Networks’ fashion division, poses with Kareem Gahed, vice president of American Eagle Outfitters, Thursday. (SK Networks

Korea will seek free trade agreements with emerging markets this year, including Latin American and Middle Eastern countries, in an effort to expand its export markets, a high-ranking government official said Wednesday.“One of three key FTA policy directions this year is to push for FTA talks with emerging markets, whose trade with Korea has increased or will further increase,” Vice Trade Minister Moon Jae-do said in a meeting with business leaders in Seoul. The emerging markets to be targeted f

Hyundai Motor Group chairman Chung Mong-koo flew to the U.S. on Tuesday to pay on-site visits to production lines in the United States and Mexico and to boost the morale of employees overseas, the automaker said. During his first overseas business trip, lasting four days, he is scheduled to visit the production sites of both Hyundai Motor and Kia Motors, and the construction site of Kia’s new production plant in Monterrey, Mexico.“His visit to the U.S. reflects the significance of the market for

The board of Ssangyong Motor, the nation’s fourth-largest automaker, owned by India’s Mahindra & Mahindra, appointed vice president Choi Johng-sik as its new CEO during the annual shareholders’ meeting in Seoul on Tuesday.“Choi, who has been in charge of global sales and marketing for Ssangyong Motor since 2010, has shared the company’s vision and growth strategy,’’ the corporate board said, raising hopes that he will contribute to the automaker’s turnaround.The board promoted current CEO Lee Yo