Jan 17, 2020   Transport

Korean Air says new loyalty program reflects global standards

Korean Air, the country’s biggest and national flag carrier, is trying to assuage customers ill at ease about a revised plan for the airline’s loyalty program, saying the latest changes reflect global standards, including reasonable benefits for customers in comparison to foreign carriers, according to the company on Friday. The airliner recently uploaded a notice to its homepage to clarify facts about the revision plan for the loyalty program amid strong backlash from customers, inc

Jan 17, 2020   Transport

Mahindra set to inject W230b into SsangYong Motor: sources

Mahindra & Mahindra Ltd. looks set to inject fresh cash into its cash-strapped South Korean unit SsangYong Motor Co. in a move to seek help from SsangYong's main creditor bank, industry sources said Friday. Mahindra & Mahindra Managing Director Pawan Goenka said the Indian carmaker will make a 230 billion-won ($198 million) investment after obtaining approval from its board during his meetings with SsangYong's labor union and Lee Dong-gull, chairman of the state-run Korea Development Ban

Jan 17, 2020   Retail

McDonald’s Korea to raise burger prices by 1.36 percent, including Big Mac

McDonald’s Korea said Friday that it will raise prices of eight items on its menu from Monday, including the brand’s signature Big Mac, by 1.36 percent overall. The items are four burgers, one side and one drink. The prices for the Cheese Burger and Big Mac will increase by 200 won (18 cents). Other items will see 100 won to 300 won increases.  The burger chain said it will also cut the prices of three burgers: the Hamburger by 200 won, and Double Bulgogi Burger and Double Chees

Jan 17, 2020   Industry

Samsung de facto leader Lee Jae-yong attends fourth hearing of retrial

Samsung Electronics’ de facto leader Lee Jae-yong on Friday appeared at the Seoul High Court with his lawyers to attend the fourth hearing of the retrial on Lee’s bribery scandal involving former President Park Geun-hye. Lee remained silent on questions asked by reporters on the scene. At the entrance to the Seoul High Court, a group of people from local labor unions demonstrated in support of more jail time for Lee. For this hearing, Samsung tried to bring CJ Group Chairman Sohn Kyu

Jan 17, 2020   Transport

Hyundai Motor chief Chung Euisun underlines decarbonizing transportation

Chung Euisun, executive vice chairman of Hyundai Motor Group, said decarbonizing transportation will support the Hydrogen Council’s vision of building a hydrogen-powered societyAccording to the company on Friday, Chung, who co-chairs the council, said in an interview that it is the responsibility of Hyundai Motor to extend beyond vehicles and invest in the hydrogen supply chain.“As an innovator and pioneer in hydrogen-powered mobility, Hyundai Motor Group is willingly taking the resp

Jan 17, 2020   Transport

Chevrolet rolls out Trailblazer as new core SUV model

Chevrolet launched Friday its new sport utility vehicle Trailblazer in Korea, dubbing it as the brand’s “core next-generation model.” The midsized SUV sits between the compact SUV Trax and Equinox, targeting urban drivers. It contains Chevrolet’s next-generation powertrain and high-tech driving functions, said the American automaker, which is owned by General Motors.  “Trailblazer is a stylish SUV that will strengthen the Chevrolet SUV lineup, maximize the driv

Jan 17, 2020   Technology

S. Korea sharply expands public radio frequency band in 2020

The radio frequency band allocated for public use will increase more than eightfold in 2020 so South Korea can better meet its safety, disaster response and transportation requirements, the science ministry said Friday.The Ministry of Science and ICT has approved a total bandwidth of 2.8 gigahertz for public use, up from the 336.4 megahertz set aside last year and the 81 MHz designated in 2018."A broader band allows public agencies to use more communication equipment and devices to send and

Jan 17, 2020   Industry

Hyundai Kona EV reaches highest altitude to set Guinness record

Hyundai Motor Co.'s Kona Electric vehicle has set a Guinness world record for the highest altitude achieved in an electric car, the company said Sunday. The Kona Electric built in Hyundai Motor's Indian plant reached the Saula Himal peak that is 5,731 meters high, beating the previous record height of 5,715 meters set by the ES8 sport utility vehicle of Chinese electric carmaker Nio in September 2018, Hyundai said in a statement.The Kona Electric, which can travel up to 452 kilometers on a singl

Jan 17, 2020   Industry

Incheon airport partners with Indonesian firms to win local deal

The operator of South Korea's main gateway said Friday it has partnered with Indonesia's two state-owned companies to win a local airport expansion project. The Incheon International Airport Corp. signed a "consortium agreement" with Indonesia's airport operator PT Angkasa Pura 1 and public builder PT Wijaya Karya to obtain the deal to expand the Batam Hang Nadim Airport, IIAC said in a statement. Batam Indonesia Free Zone Authority began the bidding process in May last year and a

Jan 17, 2020   Industry

KT to form alliance with 5 telcoms on 5G mobile edge computing

KT Corp., one of South Korea's major mobile carriers, said Friday it will form an alliance with five global telecommunication firms to develop 5G mobile edge computing solutions.KT said it will create the 5G Future Forum with America Movil of Mexico, Rogers Wireless of Canada, Telstra of Australia, Verizon Wireless of the United States and Vodafone of Britain.The alliance will focus on developing global specifications and standards for 5G MEC interoperability, according to KT.MEC is a key techn

Jan 17, 2020   Retail

Starbucks to roll out BTS drinks

Starbucks Korea will start a new campaign with K-pop boy band BTS and roll out new menu items and products, as part of a project supporting youth, the company said Thursday. According to the coffee chain, it will start a new campaign, dubbed “Be the Brightest Stars” from Jan. 21 to Feb. 6, to present limited edition menu items and goods themed around the color purple in collaboration with BTS. The campaign is designed to deliver to young people the message, “You shine like a st

Jan 16, 2020   Technology

ICT Ministry to ramp up R&D support, investment

ICT Ministry, KCC present annual policy plans to Cheong Wa Dae

Jan 16, 2020   Industry

[Monitor] Asset ranks of conglomerates change in decade

The ranking of fair assets held by large conglomerates in South Korea has changed over the past decade, with only seven out of 59 surveyed firms having maintained the same rank, data from corporate tracker CEOScore showed.CEOScore surveyed assets and capital of firms with assets of at least 5 trillion won ($4.3 billion) -- defined as large conglomerates by the Fair Trade Commission. Among the top six groups, Samsung, Hyundai and SK saw their assets rise rapidly by at least 100 trillion won from

Jan 16, 2020   Industry

Celltrion chairman floats possibility of company consolidation

Biopharma to build 120,000-liter plant in China