LG Chem, GS Caltex to produce biodegradable plastic material

South Korea’s top petrochemical maker LG Chem Ltd. and the No. 2 refiner GS Caltex Corp. have agreed to jointly produce a biodegradable plasti...

Hyundai, Kia stun LA auto show with SEVEN, EV9 concept cars

Hyundai Motor Co. and sister firm Kia Corp. on Thursday unveiled their latest concept sport utility vehicles at the Los Angeles Auto Show as the two...

Fractional investing platforms for art to Rolex lure VCs

The growing popularity of fractional investment in celebrated artworks, music copyrights and luxury items has spurred a flurry of venture capital in...

Global carmakers deliver unfinished cars due to chip shortage

Global carmakers are now delivering unfinished cars, or vehicles without popular convenience features such as USB ports, to appease customers runnin...

POSCO to quadruple steel sheet production for eco-friendly cars

South Korean steelmaking giant POSCO Co. is slated to quadruple its production of non-grain-oriented electrical steel sheet, a key material in the...

Jeju as Korea's new shopping mecca: Shinsegae's task ahead

Unlike Hawaii and Las Vegas, there is one thing missing on Jeju Island, South Korea's top tourist destination: premium outlets.The island hosted 15 ...

Wooyoungmi emerges as 'new luxury' menswear brand

When South Korean menswear brand Wooyoungmi had the highest sales in the men’s fashion hall of Paris-based luxury department store Le Bon Marc...

Hyundai's Genesis beats Lexus' selling price in US

The rising demand for high-end vehicles, despite dwindling production caused by semiconductor shortages, are driving new vehicle prices to record hi...

Hyundai Motor, Kia winners in sagging European car market in September

Hyundai Motor Co. and Kia Corp., the two automaking units of Hyundai Motor Group, saw their market share in Europe rise to a level never seen before...

Plug-in hybrids a dying breed as carmakers favor battery EVs

A plug-in hybrid electric vehicle (PHEV) was once touted as the next-generation automobile technology as such models carry the strengths of both a c...

Luxury reseller EndAnd offers one-of-a-kind authentication service

One of the biggest concerns in purchasing a secondhand luxury item is being uncertain if the item is real or fake. And South Korea-based luxury resa...

Chip shortage slams Korean carmakers’ new car rollouts

The unprecedented global chip shortage is thwarting automakers’ plans to roll out new vehicles, with some popular models set to be delivered t...

With Hyundai’s Genesis GV60, your face is the key to unlock the door

If you own Hyundai Motor Co.'s latest premium electric crossover, the GV60, set for roll-out next month, you can just touch the handle and show your...

Time to invest in luxury hotels in Korea: JLL executive

The COVID-19 pandemic has been particularly hard on the hotel industry, exposing it as one of the most vulnerable to the crisis amid the global lock...

SK's car-sharing service SoCar Malaysia sees valuation top $210 mn

Car-sharing platform SoCar Mobility Malaysia has raised around 65 billion won ($55.6 million) from South Korean private equity firm EastBridge Partn...

Millennials now S.Korea’s largest buyer of luxury goods

The millennials have become the largest spenders on luxury goods at department stores in South Korea. According to joint research by The Korea Econo...

Automotive security in spotlight on growing EV market

The automotive security technology for automotive electronics is in the spotlight as the global electric vehicle market is growing. The information ...

Korea’s Simone: Rise from replica handbag maker to luxury brand

UIWANG, Gyeonggi Province – Simone Acc. Collection Ltd., a South Korean luxury handbag maker, stresses one interesting number to its clients w...

Intel to invest up to $95 billion in European chipmaking amid US expansion

Intel Corp. plans to build new chipmaking facilities in Europe valued at up to $95 billion, responding to a cross-border race to add manufacturing c...

Iljin Hysolus shares hit ceiling on first day of trading

South Korea’s only mass-producer of hydrogen tube trailers, Iljin Hysolus Co. made a strong debut on Kospi by reaching the price ceiling on it...

Blackstone, Hahn & Co. to reap $800 mn from two Korean IPOs

South Korea's largest used car seller K Car Co., wholly owned by Hahn & Co., will go public on the country's main stock exchange in October, whi...

S.Korean govt to spend $5.4 bn to develop sensors, improve EV repair

South Korean government will spend 6.3 trillion won ($5.4 billion) next year in supporting the state-designated Big 3 industries: future vehicles, n...

Rolex emerges as latest target of S.Korea’s luxury brand fever

Rolex watches are now the latest object of South Korea’s unwavering love for luxury goods. The high demand and limited supply of Rolex watches...

Hyundai Motor previews Genesis GV60, its first electric luxury CUV

Hyundai Motor Co. on Thursday unveiled the design of the GV60, the luxury Genesis brand’s first electric vehicle that sits on the E-GMP, the...

Luxury imported car sales growth at 5-yr high in S.Korea

Mercedes-Benz, BMW and Porsche have driven the double-digit growth of imported car sales in South Korea in the first seven months of this year, with...

‘Revenge shopping’ lifts Korean retail giants’ Q2 earnings

Major department stores in South Korea such as Shinsegae Department Store and Hyundai Department Store Co. have seen their earnings improve signific...

Samsung Electro-Mechanics aims to take lead in MLCC market

South Korea-based electronic components maker Samsung Electro-Mechanics Co. is looking to take lead in the multi-layer ceramic capacitors (MLCC) mar...

Shinsegae to invest about $900 mn in department stores

South Korea's retail giant Shinsegae Group will invest 1 trillion won ($866 million) in local department stores this year to reinforce the busines...

Global carmakers to speed up EV push as governments pressure harder

US and European governments are pressing harder with tough regulations to expand electric vehicles (EV) adoption for cutting emission. Global automa...

Hyundai quadruples sales of eco-friendly cars in US

Hyundai Motor Co. has sold more than four times of eco-friendly cars in the US compared to last year. The company said on Aug. 5 that the number of ...