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Monday, January 22, 2018

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A representative of Samsung SDS is introducing 'NEXShop,' a retail solution that the company is co-marketing with Harman during the Harman Showcase at the CES 2018 in Las Vegas of the US.

Retail Solution for Future Cars

10 January 2018 - 11:00am
Michael Herh

Samsung SDS announced on January 9 that it will jointly market its retail solution 'Nexshop' with Harman for the automobile industry.

NexShop is a solution to support differentiated marketing by providing realistic experience based on digital devices such as LFDs and VR devices in automobile exhibition area. By analyzing customer behavior patterns through near field communication (NFC), display touch records and videos, NexShop provides optimized content and promotions optimized for each customer. Focusing on premium brands, NexShop has been applied to more than 350 automobile...

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Hyundai Motor Company named its latest next-generation fuel cell electric vehicle (FCEV) NEXO on January 8 (local time), the day before the opening of Consumer Electronics Show (CES) 2018 in Las Vegas.(photo courtecy: Hyundai Motor)

Named in CES Show

10 January 2018 - 10:45am
Jung Min-hee

On January 8 (local time), the day before the opening of Consumer Electronics Show (CES) 2018 in Las Vegas, Hyundai Motor Company named its latest next-generation fuel cell electric vehicle (FCEV) NEXO and unveiled the specifications and main features of the FCEV.

The name NEXO means advanced technology and is the name of an island in Denmark at the same time. In the old Germanic language, it means the spirit of water. In Spanish and Latin, it means combination.

Hyundai Motor Company said that the NEXO is capable of conducting Society of Automotive Engineers (...

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Seoul and Pyongyang held a high-level meeting on January 9, led by Minister of Unification Cho Myoung-gyon (left in the front row) and Ri Son-gwon, Chairman of the Committee for the Peaceful Reunification of the Fatherland.

Inter-Korea Talks Started

10 January 2018 - 10:30am
Jung Suk-yee

South Korea and North Korea held a high-level meeting at the Panmunjom on January 9. At the meeting, North Korea said that it would send a large team to the 2018 Winter Olympics and the team would include not only players but also reporters, visitors, Taekwondo performers and so on. South Korea proposed a joint parade at the opening ceremony and North Korea did not refuse.

Minister of Unification Cho Myoung-gyon, who represented the South Korean side at the meeting, proposed military talks for the prevention of accidental clashes and a Red Cross conference for family reunion,...

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Daewoo E&C received an LOA for multi-purpose construction (Phase 2) for the Hallure River in the Philippines.

Amid Bidding Process

10 January 2018 - 10:30am
Lee Song-hoon

Daewoo Engineering & Construction (Daewoo E&C) said on August 9 that the builder received an LOA for multi-purpose construction (Phase 2) for the Hallure River in the Philippines.

The order was placed by the National Irrigation Administration (NIA) and is to build three dams, waterways and irrigation facilities in Iloilo, a granary of the Philippine. Daewoo E&C solely landed the project. The project will cost US$ 193 million. The construction work will run for 46 months.

The Export-Import Bank signed an economic development cooperation fund (EDCF) loan agreement...

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South Korea made the biggest growth against China and Japan in the amount of new orders in 2017.

Highest Growth among Global Players

10 January 2018 - 10:15am
Jung Min-hee

The amount of new orders received by South Korean shipyards stood at 6.45 compensated gross tonnage (CGT) last year, up 198.6 percent from a year ago. South Korea made the biggest growth against China and Japan. The country took second place in terms of amount of order backlog after China, falling short of 274 CGT. South Korea also came in second in terms of orderbook value by a head, remaining at the same levels thanks to its high value added vessel contracts.

According to British shipbuilding and marine industry tracker Clarkson Research Services on January 9, the amount of global...

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GM Korea CEO Kaher Kazem hopes the company focus on turning our Korean business around and create a sustainable future based on profitability.

After 25 Rounds of Negotiations

10 January 2018 - 10:00am
Jung Min-hee

GM Korea Co. has reached an agreement with its workers union on a wage package for the year 2017 in eight months. Its labor and management will also immediately launch discussions for a follow-on wage and collective bargaining agreement and draw a conclusion within February. 

In a vote held for two days from January 8 to 9, 69.2 percent, or 8,534, of 12,340 union members who cast ballots supported the tentative agreement signed by the company and the union last month, said GM Korea on January 9.

GM Korea and its labor union have had 25 rounds of negotiations after the first...

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Samsung Electronics Co. has been excluded from the MSCI KOREA ESG Leaders Index of Morgan Stanley Capital International (MSCI).

Due to Absence of Head

10 January 2018 - 9:45am
Yoon Yung Sil

Samsung Electronics Co. has been excluded from the MSCI KOREA ESG Leaders Index of Morgan Stanley Capital International (MSCI), the world's largest index firm. The MSCI removed the company from the index on the grounds that an exhaustive social controversy surrounding Samsung Electronics has had negative effects on business management after the Choi Soon-sil political scandal.

According to the MSCI and investment banking industry sources on January 8, Samsung Electronics was excluded from the MSCI KOREA ESG Leaders Index. ESG stands for Environmental, Social and Governance and it is...

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Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, visited South Korea as a special envoy and met with Chief Presidential Secretary Lim Jong-seok.

Conflicts Solved?

10 January 2018 - 9:30am
Jung Suk-yee

Chief Presidential Secretary Lim Jong-seok and Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, met with each other in Seoul on January 9. 

According to them, South Korea and the UAE are going to communicate more with each other, for even closer bilateral relations, by means of diplomatic and national security meetings as well as economic ministerial meetings and those between special envoys.

Al Mubarak expressed his interest in South Korea’s alternative energy and solar power generation technology as well as nuclear power plants and...

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CoinMarketCap, excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity on January 8 (local time),

Excluded from Global Price Calculation

10 January 2018 - 9:30am
Yoon Yung Sil

The value of global cryptocurrencies plummeted after an influential index excluded South Korean exchanges from its data of price average calculations. It showed that every digital currency is priced at a 30 percent premium in South Korea.

“This morning we excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity,” CoinMarketCap, arguably the most prominent global index of cryptocurrency prices based in the US, wrote on Twitter on January 8 (local time). CoinMarketCap sums up real-time...

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LG House Hold & Health’s royal-themed cosmetics brand ‘Whoo’, which was released in 2003, have recorded an annual sales growth of nearly 40 percent from 2004.

Annual 40% Growth on Average

9 January 2018 - 10:30am
Choi Mun-hee

LG Household & Health Care Ltd. announced on January 8 that its royal-themed cosmetics brand ‘Whoo’ surpassed 1.4 trillion won (US$1.31 billion) in sales last year. Its fermented cosmetics brand ‘Su:m’ also achieved sales of more than 380 billion won (US$355.81 million).

Whoo, which was released in 2003, have recorded an annual sales growth of nearly 40 percent from 2004. In particular, it has shown a remarkable growth in sales from 2006 after actress Lee Young-ae was chosen as its model. Its sales grew from 100 billion won (US$93.63 million) in 2009 to 800 billion won (US$749....

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