The head of Hanmi Global, a construction management company, joined the list of the 100 best-performing CEOs in Korea released by business magazine Maekyung Economy. He has been named on the list for 11 straight years.Chairman Kim Jong-hoon, who adopted construction management programs for the first time in Korea in 1996, has gained a reputation for growing the company into a leading construction management firm with a global presence in 48 nations.  Hanmi Global’s chairman Kim Jong-hoonKim is

KCCI, AFDB LEADERS MEET IN SEOUL - Park Yong-maan (right), chairman of the Korea Chamber of Commerce and Industry, poses for a photograph with Akinwumi Adesina, president of the African Development Bank, after discussing the economic cooperation of both organizations at the KCCI office Sunday.

BMW-SNU PARTNERSHIP -- BMW Korea CEO Kim Hyo-joon (right) shakes hands with Lee Kun-woo, dean of the engineering college at Seoul National University, after signing an agreement to work together on driverless technology and to provide internships to college students in a ceremony at the univeristy in Seoul on Friday. (BMW Korea)

GENESIS SPORTS SEDAN -- Hyundai Motor unveiled the “New York” concept of Genesis at the New York International Auto Show on Wednesday. The hybrid sports sedan concept of the automaker’s luxury brand with 245 horsepower has 2.0-liter hybrid drive system coupled to an eight-speed automatic transmission. (Hyundai Motor)

The new head of Renault Samsung Motors vowed to focus on niche markets, such as compact sports utility vehicles this year, rather than jumping into direct competition with local giants.“We should be in a different (business) position from other rivals in the local market instead of playing on the playground built by Hyundai Motor,” said Park Dong-hoon, who took office last week as the new chief of the French carmaker Renault’s Korean unit.Renault Samsung's new chief executive Park Dong-hoon (Ren

South Korea’s top automaker Hyundai Motor rolled out its new mid-compact car Elantra in the Chinese market, setting a goal of selling 250,000 units this year. Naming the new car Lingdong for Chinese consumers, the company unveiled the vehicle at the Shanghai New International Expo Center on Friday and began selling it on the day. Hyundai Motor said it aims to sell more than 250,000 units of its new mid-compact in the nation this year, targeting Chinese customers in their late 20s and early 30s.C

Daewoo Shipbuilding & Marine Engineering, one of the nation’s top three shipbuilders, may face a class-action lawsuit by long-term investors over its past false earnings report, according to industry sources.The move was detected a day after the shipbuilder restated the past earnings Wednesday, with its external audits pointing out that the loss of 2 trillion won ($1.7 billion) in the 2015 earnings report should be dated 2013 and 2014.(Yonhap)“Some investors are considering legal action against

FCA ROLLS OUT NEW COMPACT SUV -- FCA Korea rolled out a small five-passenger SUV Fiat 500X in Seoul on Thursday. The new SUV is 4.2 meters long, 1.8 meters wide and 1.6 meters high. Its price tag starts from 29.9 million won ($25,700). (FCA Korea)

Daelim Group, a family-owned construction business-driven conglomerate with a 77-year history, is being exposed to risks following rising public anger at the revelations of longtime physical and verbal abuse of chauffers by the heir apparent. According to local Internet news site No Cut News on Wednesday, Lee Hae-wook, vice chairman of flagship affiliate Daelim Industrial, habitually abuses his chauffeurs by bad-mouthing them and risks their lives while driving, quoting former drivers.Describing

Top Japanese automaker Toyota will push for sales of its hybrids lineup with the launch of the all-new Prius hybrid, setting a goal of lifting the proportion of hybrid car sales to 50 percent from its current 32 percent in Korea, the carmaker said Monday.   TOYOTA PRESENTS FUTURE OF HYBRID WITH NEW PRIUS-- Toyota Korea CEO Akihisa Yoshida (right) poses next to the fourth-generation Prius hybrid at its launch event at Westin Chosun Hotel in Seoul on Tuesday. (Toyota Korea)While launching the four

BYD's K9JEJUDO ISLAND -- Chinese electric vehicle maker BYD is set to make a foray into the market, armed with its electric bus K9, a company executive said.“We are set to enter the fast-growing electric auto market in Korea with our battery-powered bus K9 after forming a partnership with local tech company Suncore,” Liu Xueliang, BYD’s Asia-Pacific general manager, said in an interview with The Korea Herald during the 3rd IEVE. BYD, which started its battery-making business in 1995, has grown i

JEJUDO ISLAND -- Hyundai Motor, the nation’s largest automaker, unveiled its pure electric vehicle version of Ioniq, the company’s first dedicated eco-car platform, at the 3rd International Electric Vehicle Expo in Jejudo Island on Friday. “Ioniq Electric boasts of the longest range among electric cars on the road and advanced driving performance,” the Korean automaker said in a press release.Hyundai Motor's Ioniq Electric (Hyundai Motor)Hyundai’s first pure electric car is able to travel up to

JEJUDO ISLAND -- Samsung SDI, the nation’s leading electric vehicle battery cell maker, showcased its high-efficiency and high-density EV battery cell-making technologies at the international expo that kicked off on Jejudo Island on Friday. Samsung SDI, which joined the event for the first time this year, set up a booth to display its latest EV battery technology and electric vehicle business ecosystem including cells, modules, packs and battery-powered cars.“We expect visitors at the booth to g

JEJUDO ISLAND -- Renault Samsung Motors, which topped in sales of EVs in Korea last year, seeks to double the sales this year, the newly appointed chief executive said during a press day for the 3rd IEVE in Jejudo. “We plan to sell 2,000 units of SM3 Z.E. in the domestic market this year and half of them will be supplied to Jejudo Island, an ideal test bed for EVs,” said Park Dong-hoon, CEO of French carmaker Renault’s Korean unit. Renault Samsung’s marquee EV SM3 Z.E., which ranked No. 1 with s

President Park Geun-hye and Hyundai Motor vice chairman Chung Eui-sun (second from left) visit the carmaker’s Ioniq Electric production line Friday in Asan, South Chungcheong Province. (Yonhap)JEJUDO ISLAND -- South Korea’s top automaker Hyundai Motor unveiled its electric vehicle in the lineup of its green car brand Ioniq during the 3rd International Electric Vehicle Expo that opened in Korea’s southern resort island on Friday. “Eco-friendly and highly fuel-efficient models are becoming key fac

(Yonhap)JEJUDO ISLAND -- More than 140 electric car and parts makers gathered on Jejudo Island to showcase their latest green auto technologies. Global carmakers including Hyundai Motor, Renault Samsung Motors, BMW and Nissan are set to join the 3rd International Electric Vehicle Expo, which began on Friday for a seven-day run.The nation’s largest automaker Hyundai Motor unveiled its new electric vehicle Ioniq Electric. It is the latest model of Hyundai‘s Ioniq, which was first revealed at the G

Korean media and lifestyle company Herald Corp. signed an agreement with the Korean arm of World Green Building Council on Tuesday to jointly promote eco-friendly buildings. Herald Corp. CEO Lee Young-man (fourth from right) and KGBC chairman Kim Hway-suh (fourth from left) pose after signing a partnership agreement at the Herald Corp. headquarters on Tuesday. (Lee Sang-sup/The Korea Herald)“Together, we hope to introduce more Koreans to the concept of green buildings,” Kim Hway-suh, chairman of

Pyeongtaek Port aims to lead Korea‘s ports and logistics industry by strengthening a partnership with Chinese companies and focusing on the port’s hinterland complex. “We have a goal of handling a total volume of 600,000 20-foot (6.1 meters) equivalent units this year,” Choi Gwang-il, CEO of Gyeonggi Pyeongtaek Port Corp. said in an interview with The Korea Herald this week.  Choi Gwang-il, CEO of Gyeonggi Pyeongtaek Port Corp.“In order to achieve the goal, we will continue to strengthen the par

Korea ranked fifth in the world in terms of superrich business tycoons who inherited their wealth instead of making their own fortune, a think tank report showed. According to the Peterson Institute for International Economics, 74.1 percent of the 30 Korean billionaires inherited their fortune -- more than double the global average of 30.4 percent.The report said the proportion of Korean billionaires who amassed their fortune through inheritance stayed unchanged over the past two decades. Meanwh

As China’s merger and acquisition deals in South Korea are hitting a record high, concerns are growing over possible technology leaks and China’s increasing M&A debt, which may hurt local industries. According to a report released Monday by the Korea International Trade Association, the number of Korean firms purchased by Chinese companies stood at 33 in 2015, a threefold increase from the previous year. The volume rose 128 percent to $1.9 billion during the same period, the report said.Over the