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Sunday, June 25, 2017

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Kia Motors ranked highest among 32 global general and premium brands in the 2017 US Initial Quality Study (IQS) released by J.D. Power and Associates.

Initial Quality Survey

23 June 2017 - 11:15am
Jung Min-hee

Kia Motors Corp., South Korea's second-largest carmaker, announced on June 22 that it ranked highest among 32 global general and premium brands in the 2017 US Initial Quality Study (IQS) released by J.D. Power and Associates, a US-based marketing information service company. The automaker has ranked top in overall initial quality for a second consecutive year.

Kia Motors beat premium manufacturers with a score of 72, such as Genesis with 77, Porsche with 78, Ford with 86, Ram with 86 and BMW with 88. The study measures the number of problems experienced per 100 vehicles based on 233...

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Korea’s export of Halal products as of 2016 took up only 5.7 percent of the total exports to the market.

Promotion of Halal Businesses

23 June 2017 - 11:15am
Choi Mun-hee

The Korea International Trade Association (KITA) opened a business support center to help domestic businesses gain greater access to the international halal product market at the Trade Tower in Samsung-dong, southern Seoul, on June 22, proving seminars and one-to-one consulting services.

Previously, KITA Vice Chairman Kim Jung-kwan, Korea Halal Export Association (KOHEA) Chairman Choi Seong-chul, Korean Institute of Halal Industry (KIHI) Director Jang Gun met to sign a memorandum of understanding (MOU) to jointly operate “Halal Export Counseling Center.” The three parties will share...

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The stock price of ING Life Insurance has recovered the IPO price with the shortest period of time.

Different from Others

23 June 2017 - 11:15am
Jung Suk-yee

As the stock price of ING Life Insurance has recovered the IPO price with the shortest period of time among listed life insurance companies, all eyes are on whether the company will break a jinx of listed life insurance companies. This is in stark contrast to the trend of other life insurance companies, such as Samsung, Hanwha, Tongyang and Mirae Asset Life, whose stock prices remained below their IPO prices for years after listing on the stock market.

On June 22, ING Life closed at 32,950 won (US$28.94), up 3.45 percent, or 1,100 won (US$0.97) from the previous day. It reached 33,...

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Hyundai Motor used tires of Michelin and Continental in the Genesis EQ900 released at the end of 2015.

Reasons for Sharp Increase

23 June 2017 - 11:15am
Jung Min-hee

Imported tires show a strong sales growth. As sales of imported tires from January to April increased by more than 40 percent compared to a year earlier, the figures will reach a record high this year. This is largely due to the fact that Hyundai Motor and its smaller affiliate Kia Motors have expanded the introduction of imported tires and imported cars still see a rising trend.

According to the data from Korea Tire Manufacturers Association (KOTMA) on June 22, the total tire imports from January to April this year stood at US$221.17 million (252.22 billion won), up 42 percent, or...

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Approximately 50 business people including those from large businesses will accompany President Moon’s official visit to the US as an economic delegation at the end of this month.

Economic Delegation to US

23 June 2017 - 11:00am
Michael Herh

About 50 business people including chairmen of big Korean business groups will accompany President Moon Jae-in’s official visit to the United States as an economic delegation at the end of this month, according to the Korea Chamber of Commerce and Industry (KCCI) on June 23.

The list includes Park Yong-man, chairman of the Korea Chamber of Commerce and Industry, Kwon Oh-hyeon, vice chairman of Samsung Electronics, Chung Eui-sun, vice chairman of Hyundai Motors, Chey Tae Won, chairman of the SK Group, Koo Bon-joon, vice chairman of the LG Group, Heo Soo-young, head of the Chemical...

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LG Display's 55-inch transparent OLED display.

Leading Display Technology

23 June 2017 - 11:00am
Cho Jin-young

LG Display laid the groundwork for creating a new display market by developing a 77-inch transparent flexible organic light emitting diode (OLED) display for the first time in the world. This display is expected to be commercialized for the products that can be promoted in the 4th industry, including digital signage, transparent infotainment displays applied to autonomous vehicles, smart desks, and augmented reality (AR) aquariums.

LG Display announced that the company held the National Transparent Flexible Display Project Meeting to share the results of its project to develop...

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SK Holdings C&C will make use of its Watz Eye, a convergence physical security solution, for security services such as city control, traffic control, facility control and air control.

Convergence Security Solution

23 June 2017 - 11:00am
Cho Jin-young

SK Holdings C&C, an IT services arm of SK Group, will converge physical security technology for houses and buildings with advanced technology, including the Internet of Things (ioT), to increase security and push into the global market through the new convergence security solution.

SK Holdings C&C signed a memorandum of understanding (MOU) with Namoo I&C at its headquarters in Bundang, Gyeonggi Province, on June 22 to jointly export converged security technology overseas. To this end, the company will make use of its Watz Eye, which has planted itself as one of the best...

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Five large Korean securities firms will enter the investment bank (IB) business by applying for their own IB license as early as June 30.

Application for IB License

23 June 2017 - 10:45am
Jung Suk-yee

Five large Korean securities firms will apply for license for the investment bank (IB) business as early as June 30.

Five large Korean securities firms will enter the investment bank (IB) business by applying for their own IB license as early as June 30. The capital market is paying attention to whether or not the five securities firms that claim to have proper strength and ability for the IB business to play high-risk and high-return games will be able to become "Korean versions of Goldman Sachs".

According to the IB industry on June 22, Mirae Asset Daewoo with 6.7 trillion...

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South Korea’s first autonomous car SNUver has successfully completed a test drive on actual roads in Yeouido, Seoul, on June 22.

First Self-driving in City Road

23 June 2017 - 10:30am
Jung Min-hee

SNUver, South Korea’s first autonomous car developed by Seoul National University’s Intelligent Vehicle IT Research Center, holds its first test drive on the roads in Yeouido, Seoul, on June 22

Seoul National University’s Intelligent Vehicle IT Research Center announced that its self-developed autonomous vehicle “SNUver” successfully completed a test drive on actual roads in Yeouido, Seoul, on June 22.

It was the first autonomous driving test on actual roads after the Ministry of Land, Infrastructure and Transport (MOLIT) approved the driverless test drive on most public...

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Hewlett-Packard (HP) Korea’s work force stood at 654 as of April this year, which is a decrease of 105 people compared to the same period of last year.

Downsizing Trend

23 June 2017 - 10:15am
Cho Jin-young

Major foreign information technology (IT) companies in Korea showed a significant reduction in their work forces last year.

Hewlett-Packard (HP Korea’s work force stood at 654 as of April this year, according to corporate information provider Credit Job. This is a decrease of 105 people compared to the same period of last year (759 people) and means that their workers slipped 13.8% in one year. HP Korea was divided into Hewlett Packard Enterprise (HPE) and HP Korea in November 2015. The total number of HP Korea employees in Korea is the number of employees of HPE, engaging in the...

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