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Mon, August 15, 2022 | 18:36

US Inflation Reduction Act to help battery manufacturers, struggling auto biz

Local battery makers with facility investment plans in the U.S. are expected to thrive, powered by the sweeping passage of the Inflation Reduction Act by the House of Representatives that will help increase the market share over their Chinese counterparts, coupled with price advantages from greater state grants, market watchers said Monday.

Lee Kyung-min | 2022-08-15 16:39

Hyundai Motor Group becomes world's No. 3 automaker in sales volume

Hyundai Motor Group is now the world's third-largest automaker in terms of sales volume. Hyundai Motor Group said Monday that its global sales volume from January to June of this year stood at 3.3 million vehicles, coming in third behind Volkswagen Group, which sold 4 million vehicles, and Toyota, which ranked first with 5.1 million vehicles sold.

Kim Hyun-bin | 2022-08-15 15:39

LCCs struggle despite increased int'l passenger demand

Local low-cost carriers (LCC) are deeply concerned despite a rise in international passenger demand, as the competition for Southeast Asian routes is intensifying due to difficulties entering the most popular destinations - Japan and China. Many experts believe it will be difficult for LCCs to improve their financial structure despite a surge in international flight demand.

Kim Hyun-bin | 2022-08-15 15:39

Conflict reignites over relocation of POSCO Holdings to Pohang City

POSCO Group has been in dispute once again with residents of Pohang, North Gyeongsang Province, over its plan to relocate POSCO Holdings headquarters and its R&D center from the capital region to the southeastern port city by March next year. Although POSCO Group plans to deal with the relocation plan at the general meeting of its holding firm's shareholders early next year, ...

Park Jae-hyuk | 2022-08-15 15:02

S. Korea's 4 refiners post record H1 operating profit

South Korea's four major refiners posted a record combined operating profit in the first half as high oil prices pushed up refining margins, their earnings data showed Monday.

2022-08-15 14:39

Will Hyundai Motor Group reorganize Mobis for governance reform?

Hyundai Mobis, an auto parts subsidiary of Hyundai Motor Group, is said to be pushing ahead with spinning off modules and components manufacturing units, raising speculation that the restructuring is intended for the automotive group's governance reforms. According to industry officials, Monday, Hyundai Mobis informed its executives last Thursday of its plan to focus more on ...

Park Jae-hyuk | 2022-08-15 13:52

Consumers angered by luxury fashion platforms' return policies

Consumer complaints are growing over luxury shopping platforms' poor return policies, as most of them charge fees to return items and some even refuse to allow returns, according to industry watchers, Sunday

Kim Jae-heun | 2022-08-15 08:47

Seoul E-Prix thrills racing fans in Korea

The Seoul E-Prix, the first electric vehicle (EV) race held in Korea, successfully completed its inaugural event Sunday at the Jamsil Sports Complex, a historic venue where the 1988 Seoul Summer Olympics were held.

Baek Byung-yeul | 2022-08-14 17:05

City goes into festival mode during Seoul Festa

Will Samsung heir be promoted to chairman?

Pardoned Samsung Electronics Vice Chairman Lee Jae-yong, who has pledged to make “a significant contribution to the Korean economy,” is highly likely to become chairman of the chip giant soon, a long overdue promotion that will test his leadership to steer the company through an increasingly uncertain business environment, according to industry watchers Sunday. Lee, the heir ...

Lee Kyung-min | 2022-08-14 16:49

Samsung promotes Korea's bid to host World Expo 2030

Samsung Electronics Vice Chairman Han Jong-hee recently visited southern Africa to check on the company's business there and meet with local government officials to ask for their support for Korea's southern port city of Busan hosting the World Expo 2030, the company said, Sunday. Han met South African Minister of Trade, Industry and Competition Ebrahim Patel and Minister of ...

Kim Jae-heun | 2022-08-14 16:35

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