The Korea Times

Korean Air introduces A321neo equipped with Prestige class

Korean Air's newly introduced Airbus 321neo offers 180-degree flat-bed seats available in Prestige class. Courtesy of Korean AirBy Kim Hyun-binKorean Air has introduced its first Airbus A321neo, equipped with fully lie-flat seats in business class, making it the first Korean airline to offer this feature on a short-haul aircraft, according to the company, Wednesday. The airline's first A320 family aircraft is a single-aisle narrow-body with a total of 182 seats, and will mostly operate on short-haul routes, including Southeast Asia, China and Japan. The A321neo will present a pleasurable flight experience by providing inflight internet, a sophisticated cabin interior and advanced personal inflight entertainment systems. “We are delighted to receive our first A321neo, which will be a great asset to our fleet, network and passengers,” said Lee Soo-keun, executive vice president at Korean Air and chief safety & operation officer. “This fuel-efficient, next-generation A321neo will bring our customers' experience to a new level with the award-winning Airspace cabin a

Nov 30, 2022By Kim Hyun-bin

Korean Air introduces A321neo equipped with Prestige class

Companies

UK antitrust agency expected to approve Korean Air-Asiana deal

Korean Air B787-9 / Courtesy of Korean AirBy Kim Hyun-binThe U.K antitrust authority is expected to accept Korean Air's proposed corrections concerning the acquisition of its domestic rival Asiana Airlines, moving the high-profile takeover one step closer to reality, according to industry officials Tuesday. The U.K. Competition and Markets Authority (CMA) said Monday (local time) that it is considering the undertakings regarding competition concerns over the buyout of Asiana Airlines by Korean Air.“Undertakings offered by Korean Air on Nov. 21 might be accepted to remedy the substantial lessening of competition,” the CMA said.It had previously decided to postpone the decision, saying that Korean Air and Asiana Airlines are the only two airlines operating between Korea and London. At the same time, Korean Air was notified to submit corrective measures by Nov. 21.“The CMA announced on Nov. 28 (local time) that it accepted in principle the voluntary correction proposal submitted by the company. Accordingly, the competition authorities will go through the process of dec

Nov 29, 2022By Kim Hyun-bin

UK antitrust agency expected to approve Korean Air-Asiana deal

Companies

Hyundai seeks to establish US battery plants with SK On, LGES

Kim Heung-soo, vice president of Hyundai Motor's EV business division, left, poses with Choi Young-chan, SK On Chief Administrative Officer, after signing a memorandum, of understanding (MOU) for cooperation in supplying EV batteries in North America at the SK Serin building in Seoul, Tuesday. Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor is actively considering establishing a joint manufacturing plant in the U.S. with key battery makers, such as SK On and LG Energy Solutions (LGES), to better cope with the implementation of the Inflation Reduction Act (IRA), according to industry officials, Tuesday.Hyundai Motor Group and SK On signed a memorandum of understanding (MOU), Tuesday, to expand into the U.S. electric vehicle market. Based on the strategic alliance, the two sides decided to pursue a plan to supply SK On batteries at Hyundai Motor Group's EV plant in the U.S. after 2025, while specific details, such as supply quantity and type of cooperation, will be discussed later."This agreement on battery supply in North America will help us accelerate our advance into th

Nov 29, 2022By Kim Hyun-bin

Hyundai seeks to establish US battery plants with SK On, LGES

Companies

KCCI chairman heads to Paris to represent Busan at BIE Expo General Assembly

By Kim Hyun-binKorea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, who concurrently serves as co-chairman of the Busan World Expo 2030 bidding committee, is scheduled to attend the 171st General Assembly of the Bureau International des Expositions (BIE) held in Paris, France, Nov. 28 and 29, to conduct a presentation on Busan's bid to host the World Expo in 2030, according to industry officials, Sunday. It is the first general meeting to be held since the candidate countries submitted their official bid applications in September, and one year ahead of the host country selection. Korea, Saudi Arabia, Italy, and Ukraine are expected to engage in a fierce bidding competition.KCCI Chairman Chey Tae-wonKorea plans to send a private delegation including Chey, Samsung Electronics CEO Lee In-yong, SK SV Chairman Lee Hyung-hee and Hyundai Motor Executive Vice President Kim Dong-wook to join forces with the government delegation."The 'public-private one-team Korea' strategy is what sets us apart from our competitors, and it has played a big role in hosting many international e

Nov 27, 2022By Kim Hyun-bin

KCCI chairman heads to Paris to represent Busan at BIE Expo General Assembly

Companies

Hyundai Motor's sponsorship of World Cup dates back 23 years

From left, Hyundai Motor founder Chung Ju-yung, Fmr. Hyundai Motor Group Chairman Chung Mong-koo and current Chairman Chung EuisunBy Kim Hyun-binThe FIFA World Cup has been sponsored by major global partners, such as Coca-Cola, Adidas, and VISA, with the specific rule that only one sponsorship is allowed per company of the same industry. Korea's leading carmaker Hyundai Motor Group (HMG), which operates Hyundai Motor and Kia Corp. under its wings, is the sole sponsor of the World Cup among global automakers.The World Cup is football's showpiece event and global festivity for athletes and fans around the world. The FIFA World Cup Final is watched live by 1 billion people worldwide. HMG has been actively engaged in direct and indirect marketing showcasing the company's logo and products through various marketing activities, which are naturally exposed throughout the competition and help make Hyundai Motor not only a renowned domestic automobile brand but a global brand recognized by people throughout the world.“In order to provide official vehicles for competitions held all over

Nov 26, 2022By Kim Hyun-bin

Hyundai Motor's sponsorship of World Cup dates back 23 years

Companies

SK Inc. diversifies sustainable food business

The U.S. firm, Wildtype, produces salmon with cell culture technology invested in by SK Inc. Courtesy of SK Inc.By Kim Hyun-binSK Inc. is expanding its investments in the sustainable food industry as part of its focus on advancing green businesses aligned with environmental, social and corporate governance (ESG) principles, according to the company, Thursday.The company has invested approximately $7 million in Wildtype, a U.S.-based salmon cell cultivation company. SK Group also announced that it has signed a memorandum of understanding (MOU) with Maeil Dairies, a Korean dairy manufacturer and distributor, and Perfect Day, a U.S.-based non-animal milk protein producer. In addition, Meatless Farm, a Dutch sustainable food company in which SK Inc. has invested, recently secured a $7-million investment from Aju IB Investment. With its latest investment in Wildtype, SK Inc. has established a well-rounded investment portfolio in sustainable food. Wildtype, founded in 2016, produces cultivated salmon, which stands apart from other seafood alternatives with its natural appearance, texture a

Nov 24, 2022By Kim Hyun-bin

SK Inc. diversifies sustainable food business

Companies

Kia urged to end job guarantees for union workers' children

Kia Sohari production plant in Gyeonggi Province / YonhapBy Kim Hyun-binThe government is urging Kia Corp., Korea's second-largest automaker, to end its employment guarantees for unionized workers' children, as the collective agreement may violate a law that ensures fair employment opportunities for everyone, according to the labor ministry and industry officials, Wednesday.According to the Ministry of Employment and Labor, the Anyang branch of the Central Regional Employment and Labor Administration sent an official letter to Kia's labor union and management earlier this month stating that Article 26, Paragraph 1 of the collective agreement may violate the fair employment law.Paragraph 1 of the agreement says that the children who are immediate family members of an incumbent union member, who died due to an industrial accident, are given priority in hiring.“We watched whether the labor and management of Kia would correct clause 1 in the collective bargaining process,” the labor ministry said. “However, the clause remained unchanged, so we sent an official letter fo

Nov 23, 2022By Kim Hyun-bin

Kia urged to end job guarantees for union workers' children

Companies

LS Group chief conducts first personnel reshuffle

From left are LS Corp. Vice Chairman Myung Roe-hyun, LS MnM Vice Chairman Doh Suk-goo, and LS Cable & System President Koo Bon-kyu. Courtesy of LS Group By Kim Hyun-binLS Group Chairman Koo Ja-eun has conducted his first reshuffle of the group's top management since taking helm of the group at the beginning of the year. LS Group retained most of the CEOs of its major subsidiaries to focus on organizational stability and minimizing external and organizational changes in consideration of the global economic downturn, although the conglomerate is expected to log a record-high performance this year. LS Corp. President Myung Roh-hyun, a business-driven CEO, and Doh Suk-goo, president of LS MnM (formerly LS-Nikko Copper), were promoted to vice chairmen to better revitalize the organization. Among the three third-generation owner family, Koo Bon-kyu, the eldest son of LS Cable & System Chairman Koo Ja-yeop, was promoted to president, and E1 CEO Koo Dong-whi, the eldest son

Nov 23, 2022By Kim Hyun-bin

LS Group chief conducts first personnel reshuffle

Companies

Key Korean manufacturers increase market shares in US, China

Containers are being unloaded at Sinseondae container terminal in Busan Port. / YonhapBy Kim Hyun-binThe global market share of Korea's 13 major export items increased by 0.22 of a percentage point in 2020-2021 amid the pandemic, rising to fourth place in the world backed by stronger-than-expected sales in the U.S. and China, according to a report released Tuesday.The 13 main items are semiconductors, general machinery, petroleum products, petrochemicals, ships, car parts, cars, flat panel displays, steel, wireless communication devices, home appliances, computers and textiles, which account for 75 percent of Korea's total exports.The Korea International Trade Association (KITA) released a report titled “Diagnosing the competitiveness of Korea's main export items before and after the pandemic,” Tuesday. According to the report, the recovery of global demand was cited as the biggest reason for the increases seen in Korea's 13 major export items, which raised the total export amount by $47.6 billion. From January to August this year, Korea's 13 major items took a 15.13 perc

Nov 22, 2022By Kim Hyun-bin

Key Korean manufacturers increase market shares in US, China

Companies

Hyundai Motor's EVs lead carbon neutral efforts at World Cup

The FIFA Museum Presented by Hyundai, a special exhibition hall in Doha for the FIFA World Cup 2022 in Qatar, displays various football-related items such as the uniforms of the 32 participating countries and past World Cup trophies. Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group is going all out to showcase its eco-friendly image at the 2022 FIFA World Cup in Qatar, according to industry officials, Monday.The carmaker is providing 983 official vehicles as a sponsor of the World Cup, including 316 eco-friendly cars, becoming the first to sponsor electric vehicles (EVs) at the global football extravaganza. Hyundai Motor Group aims to use the World Cup as a stepping stone to establish its image as the world's leading eco-friendly car manufacturer. Hyundai Motor will provide 616 of the vehicles, including 446 passenger cars, RVs and 170 commercial vehicles, for the World Cup.Over 220 of the vehicles are EVs, such as the IONIQ 5, G80 and GV70 electric models, and hybrid vehicles such as the Sonata Hybrid EV (HEV), Kona HEV, and Tucson HEV. Passenger vehicles and RVs ar

Nov 21, 2022By Kim Hyun-bin

Kim Hyun-bin

Read more

Korean Air introduces A321neo equipped with Prestige class

UK antitrust agency expected to approve Korean Air-Asiana deal

Hyundai seeks to establish US battery plants with SK On, LGES

KCCI chairman heads to Paris to represent Busan at BIE Expo General Assembly

Hyundai Motor's sponsorship of World Cup dates back 23 years

SK Inc. diversifies sustainable food business

Kia urged to end job guarantees for union workers' children

LS Group chief conducts first personnel reshuffle

Key Korean manufacturers increase market shares in US, China

Hyundai Motor's EVs lead carbon neutral efforts at World Cup

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