The Korea Times

Jeep unveils first electric Avenger in Korea

Avenger is on display at the Jeep Showroom in Guri, Gyeonggi Province, Tuesday. / Courtesy of Stellantis KoreaBy Kim Hyun-binJeep unveiled its first pure electric SUV Avenger in Korea revealing the model for the first time in the Asian market.The company delivered the brand's vision and promised to continue its efforts toward zero emission, while at the same time promoting the brand's battery electric vehicle (BEV) for domestic customers during the Avenger Asia Premiere held at the Jeep Showroom in Guri, Gyeonggi Province, Tuesday.Avenger special exhibitions will be held at seven Jeep-only exhibition halls nationwide for about two weeks starting Feb. 28 to March 14. Customers visiting the exhibition hall during this period can meet the Jeep Avenger, which was unveiled for the first time in Asia, and enjoy the automaker's entertainment programs."We are delighted to have an opportunity to present the most anticipated vehicle at the moment in the Korean market and to the customers," said Jake Aumann, the managing director of Stellantis Korea said. "We're looking forward to seeing the Av

Feb 28, 2023By Kim Hyun-bin

Jeep unveils first electric Avenger in Korea

Companies

LG Electronics to enter cosmetics business

A model uses the LG Electronics Pra.L / Courtesy of LG ElectronicsBy Kim Hyun-binLG Electronics announced Tuesday that it will add cosmetics as a new business sector during its regular shareholders' meetings set for March 27. However, there are worries the expansion could overlap with LG Household & Health Care (LG H&H), which focuses mainly on cosmetics and household goods, according to industry officials.The company aims to increase synergy and cosmetics sales with Pra.L, a beauty device brand of LG Electronics, and sell cosmetics that can be used in combination with beauty and medical devices.“The addition of the cosmetics sales business reflects the recent market trend in which products combine beauty and medical devices with cosmetics, and is aimed at broadening customer experiences,” an LG Electronics official said.LG Electronics continues to release beauty and medical devices such as elasticity devices, cleansing devices and absorption accelerators through Pra.L. It also recently introduced Dermthera, a beauty device for managing facial lines.“The com

Feb 28, 2023By Kim Hyun-bin

LG Electronics to enter cosmetics business

Companies

Office workers show interest in new Hyundai Motor production jobs

An employee works on the Sonata production line at the Hyundai Motor Asan plant in South Chungcheong Province. Courtesy of Hyundai Motor By Kim Hyun-binHyundai Motor's recruitment of 400 production workers is stirring up online communities as the company is recruiting technical workers for the first time in 10 years, according to industry officials, Monday.According to the industry, the annual salary of a new production worker at Hyundai Motor is 50 million won ($38,000) to 60 million won, and the average annual salary for a worker who has been at the company for 14 years is 96 million won, and for the 16th year, it is 130 million won. The retirement age of 60 is guaranteed, and a 25 percent discount is available when purchasing a Hyundai car for life even after retirement.On Blind, an anonymous communication platform for office workers, a series of posts have been asking about hiring conditions, salary and the work environment. There are even posts by people who ar

Feb 27, 2023By Kim Hyun-bin

Office workers show interest in new Hyundai Motor production jobs

Companies

Companies nurture robots as new growth engines

Hyundai Motor Group tests autonomous driving delivery service using robots in Rolling Hills Hotel in Hwaseong, Gyeonggi Province on Dec. 16, 2022. Courtesy of Hyundai Motor GroupBy Kim Hyun-binMajor conglomerates view the robot business as a future growth engine. Competition is heating up with the market expected to grow to 177 trillion won ($140 billion) in four years, according to industry officials, Monday.According to market researcher, Brand Essence Market Research and Consulting, the service robot market is expected to expand from $35.24 billion in 2021 to $140.94 billion in 2027. Samsung Electronics, Hyundai Motor Group, and LG Electronics are interested in developing and marketing a wide range of robots from medical workers to museum curators.Samsung Electronics plans to introduce its first robot within this year. At a press conference at the beginning of the year, Han Jong-hee, vice-chairman of the Device Experience (DX) division at Samsung Electronics, said, "We plan to introduce an assistive device robot named 'EX1' within this year.”The 'EX1' can be worn on the hips

Feb 27, 2023By Kim Hyun-bin

Companies

Samsung Electronics introduces Neo QLED and OLED core technologies in Europe

Participants of the 2023 Europe Tech Seminar check out Samsung Electronics 2023 Neo QLED TV in Frankfurt, Germany. Courtesy of Samsung Electronics.By Kim Hyun-binSamsung Electronics will hold a European Tech Seminar to introduce core technologies for new TVs in 2023, centered on Neo QLED, in Frankfurt, Germany, for two days starting on Feb. 23 (local time), the company announced, Friday.The Tech Seminar, which celebrates its 12th anniversary this year, is a place to introduce Samsung TV's latest technologies and services to video and audio experts in major regions around the world and listen to their various opinions. It is the first time in four years, since the outbreak of COVID-19, for the event to not be held online. This event consists of various programs where participants can directly experience the improved picture quality of the 2023 Neo QLED and OLED lineup including the performance of the 2023 OLED gaming monitor, the evolved HDR picture quality, and the display of the lifestyle TV The Frame.Starting with this European event, Samsung Electronics plans to hold tech seminars

Feb 24, 2023By Kim Hyun-bin

Samsung Electronics introduces Neo QLED and OLED core technologies in Europe

Companies

POSCO Holdings starts secondary battery nickel business in Indonesia

Lee Kyung-sub, left, POSCO Holdings' head of LiB Materials Business, signs a memorandum of agreement for mutual cooperation in nickel production with Jiang Xinfang, CEO of Lygend Resources & Technology, in Jakarta, Indonesia, Thursday. Courtesy of POSCO HoldingsBy Kim Hyun-binPOSCO Holdings is starting a nickel business for secondary batteries in Indonesia. The company signed a memorandum of agreement (MOA) with China's Lygend Resources & Technology in Jakarta, Indonesia to cooperate in nickel production. With this MOA, POSCO Holdings will have a nickel supply network in Indonesia, the world's No. 1 nickel holder and producer, the company announced, Friday.Indonesia is a major nickel hub for secondary batteries. Its total nickel reserves reach 21 million tons. Nickel is a key raw material that determines the performance of vehicle mileage by increasing the charging capacity of secondary batteries for electric vehicles (EVs). The growth of the EV market is sharply increasing demand for nickel for secondary batteries.Lygend is a Chinese company that conducts business throughout

Feb 24, 2023By Kim Hyun-bin

POSCO Holdings starts secondary battery nickel business in Indonesia

Companies

FKI to establish hall of fame for businesspeople

Kim Byong-joon, the newly appointed acting chairman of the Federation of Korean Industries (FKI), speaks of the changes set to take place during a press conference held at the FKI building in Seoul, Thursday. Courtesy of FKIBy Kim Hyun-binThe Federation of Korean Industries (FKI), Korea's largest private economic organization, announced plans to establish a hall of fame dedicated to Korea's leading businessmen, and a special exhibition space highlighting industries that have served as the basis for economic development, during a regular general meeting, Thursday.The FKI is also reviewing ways to transform its affiliated economic research institute, the Korea Economic Research Institute, into a global-level think tank focusing on publishing reports and promoting economic education and human resource development as key projects. The business lobby group is also considering establishing a business roundtable, a consultative body on global issues composed of the CEOs of major conglomerates. The main functions of the business roundtable are to discuss or implement joint responses in the e

Feb 23, 2023By Kim Hyun-bin

FKI to establish hall of fame for businesspeople

Companies

POSCO International acquires rights to explore, operate offshore natural gas fields in Indonesia

POSCO International's offshore gas field in Myanmar / Courtesy of POSCO InternationalBy Kim Hyun-binPOSCO International formed a consortium with Pertamina Hulu Energi (PHE), an Indonesian local state-run company, to obtain the right to explore the Bunga offshore gas field in an international bidding process organized by the Indonesian government, Wednesday.The exploration rights provide the authority to proceed with all essential exploration, development, and production processes of natural gas. POSCO's stake in the consortium stands at 50 percent with the operating rights owned by POSCO International. PHE is a subsidiary of Indonesia's state-owned oil and gas corp. Pertamina, is a specialized company that is in charge of oil and gas exploration and production in Indonesia as well as overseas.Securing exploration rights through an international bidding sees POSCO International's gas field exploration and operations capabilities being recognized internationally. The Bunga block is located in the eastern sea off Java, Indonesia. The total area of the gas field is 8500 square kilometers

Feb 23, 2023By Kim Hyun-bin

POSCO International acquires rights to explore, operate offshore natural gas fields in Indonesia

POSCO International expands presence as eco-friendly energy supplier

Companies

KCCI chief to promote Expo bid as presidential special envoy in Europe

By Kim Hyun-binChey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), will visit three European countries ― Spain, Portugal, and Denmark ― as a presidential envoy from Feb. 28 to March 5 to seek support for Busan's bid to host the World Expo in 2030, according to the KCCI, Thursday.This is the first time Chey has become a presidential special envoy and the delegation includes KCCI Vice Chairman Woo Tae-hee, SK Hynix Vice Chairman Park Jung-Ho and SK Eco Plant CEO Park Kyung-il.KCCI Chairman Chey Tae-won“This delegation to the three European countries will serve as an opportunity to broaden the consensus on the necessity of hosting the Expo in Busan,” Woo said.Spain, the country where the Mobile World Congress is held, is known to be in strong cooperation with Korea in the digital industry, through electric vehicles (EVs) and batteries. It is also considered an advanced country in renewable energy development, ranking first worldwide in solar power generation and fifth in wind power. Denmark considers the transition to green energy as a key national t

Feb 23, 2023By Kim Hyun-bin

KCCI chief to promote Expo bid as presidential special envoy in Europe

Companies

KITA calls for eased regulations to boost faltering exports

Koo Ja-yeol, chairman of the Korea International Trade Association, speaks at the 2023 KITA General Meeting held at COEX in Seoul, Wednesday. Courtesy of KITABy Kim Hyun-binKoo Ja-yeol, head of the Korea International Trade Association (KITA), emphasized that the association will do its best to overcome the export crisis by fulfilling its duty as a communication channel, during the 2023 KITA General Meeting held at COEX in Seoul with around 600 representatives of the trade association's member companies in attendance, Wednesday. "The paradigm of our trade has been changing rapidly in the past few years, becoming a great shock,” Koo said. “The U.S.-China conflict has expanded to technology and supply chains while new trade issues such as carbon neutrality, security, digital and labor are emerging rapidly. Especially last January, exports decreased significantly due to sluggish semiconductors and trade with China, and the trade deficit also recorded a record high." The chairman emphasized that KITA needs to strengthen its role and enhance communications in related fields."W

Feb 22, 2023By Kim Hyun-bin

Kim Hyun-bin

Read more

Jeep unveils first electric Avenger in Korea

LG Electronics to enter cosmetics business

Office workers show interest in new Hyundai Motor production jobs

Companies nurture robots as new growth engines

Samsung Electronics introduces Neo QLED and OLED core technologies in Europe

POSCO Holdings starts secondary battery nickel business in Indonesia

FKI to establish hall of fame for businesspeople

POSCO International acquires rights to explore, operate offshore natural gas fields in Indonesia

KCCI chief to promote Expo bid as presidential special envoy in Europe

KITA calls for eased regulations to boost faltering exports

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