The Korea Times

KEPCO, Maryland agree to cooperate on new energy sector

KEPCO CEO Cho Hwan-eik, left, shakes hands with Michael Gill, Maryland secretary of commerce, after signing an energy development agreement in Annapolis, Thursday. / Courtesy of KEPCOBy Park Jin-haiKorea Electric Power Corp has reached an agreement with the U.S. state of Maryland to work together developing the new energy sector.Under the pact, signed in Annapolis on Thursday, the two agreed to cooperate on smart grids, smart city development, advanced metering, energy storage systems and recharging infrastructure for electric vehicles, the company said Friday.It is the first time a Korean company has entered into an agreement with a U.S. state in the energy field.  Maryland has large-scale electricity infrastructure, KEPCO said, adding the state is keen to improve its overall energy efficiency, update old power grids into smart grids and establish energy storage capacity.The company expects the partnership to put it in a good position for future state projects."The (agreement) is an important starting point for future sustainable energy cooperation between Korea and Maryland,"

Oct 16, 2015By Park Jin-hai

Companies

Hyundai, U.S. Energy Department cooperate in selling more cars with fuel cells

Hyundai Motor President Chung Jin-haeng, right, and U.S. Department of Energy officials exchange ideas about the Hyundai Tucson Fuel Cell during a consultation it held on the sidelines of President Park Geun-hye’s state visit to Washington, D.C. Thursday. From left are: Cho Sung-hwan, president of Hyundai America Technical Center Inc.(HATCI); David Danielson, assistant secretary for energy efficiency & renewable energy; John Juriga, director at HATCI, and Chung.By Park Jin-haiHyundai Motor and the U.S. Department of Energy sought cooperation in expanding the customer base for cars with fuel cells, the company said Friday.Hyundai executives, led by company president Chung Jin-haeng, accompanying President Park Geun-hye’s state visit, had a consultation session in Washington Thursday with U.S. officials including David Danielson, assistant secretary for energy efficiency & renewable energy, and Reuben Sarkar, deputy assistant secretary for transportation,“We discussed measures to sell more fuel cell cars, including expanding infrastructure and the Fuel Cell Ve

Oct 16, 2015By Park Jin-hai

Companies

Audi Volkswagen Korea to recall two years after gov't order

By Park Jin-haiAudi Volkswagen Korea, criticized over its late apology for an on-going emissions scandal here, will belatedly recall some 2,200 vehicles for defects in emissions-related parts, the company said Thursday.Two years ago, the company was ordered to replace the defective parts by the Ministry of the Environment.The cars on the recall list are 1,653 Audi A6 2.0 TFSIs sold between 2009 and 2010, and 534 Tiguan 2.0 TDI models sold in 2009.The A6 was found to have a faulty positive crankcase ventilation valve, which recycles crankcase gases back into the engine to burn. The damaged valve may bring engine oil into the combustion chamber, producing white smoke in the exhaust.The Tiguan was said to have a defective sensor in a diesel particulate filter.The company didn’t recall the vehicles, although it knew of the defects in 2013 after a ministry inspection. For this, it was fined 31 million won.Rep. Han Jeong-ae of the New Politics Alliance for Democracy said postponing the recall for two years was deceiving Korean customers.Han also criticized the environment ministry. &

Oct 15, 2015By Park Jin-hai

Companies

POSCO E&C breaks ground for nation's tallest apartment complex

An aerial view of the 101-story Landmark Tower and two 85-story residential towers POSCO E&C is to complete by 2019 at the Haeundae Tourist Resort LCT Development Project at Haeundae Beach, Busan. / Courtesy of POSCO E&CBy Park Jin-haiPOSCO E&C began construction of the nation’s tallest apartment complex, LCT, in Busan Thursday.Some 300 guests, including company executives and politicians, participated in a ceremony to celebrate the start of construction.The Haeundae Tourist Resort LCT Development Project will include construction of one 101-story building, the 411-meter tall Landmark Tower, and two 85-story residential towers (339 meters/333 meters) in the second largest city of Korea.With a total investment of 1.5 trillion won, POSCO E&C will build the tower, the second-tallest landmark in Korea, and the tallest apartment complex here.The construction is slated to be completed by November 2019.“The LCT project will lift the city’s competitiveness by a notch and become an icon of innovation, making Busan a truly global city,” said company CEO

Oct 15, 2015By Park Jin-hai

Companies

JTI Korea to recruit young talent

By Park Jin-haiJTI Korea said Wednesday it is participating in the Job Fair for Foreign-Invested Companies 2015, which will be Oct. 15-16 in Seoul.During the fair, organized by the Korea Trade-investment Promotion Agency at the COEX, the company will hire trainees and interns for each department through interviews on the spot.Trainees will be given opportunities to sharpen their global competitiveness through assignments to three Asian countries, including Korea for eight months. After hands-on work experience, they will be groomed to be core managers for JTI Korea.JTI Korea, manufacturer of Mevius and Camel tobaccos, plans to provide useful information for job seekers and will offer free counseling."Since 2011, we have participated in many job fairs and workshops held in Korea to secure a talented workforce and raise public awareness of the company," says Kim Jong-bok, managing director of JTI Korea HR Department. "Through this job fair, we plan to recruit candidates with great potential as well as provide them with opportunities to grow and become global talents."Founded in Korea i

Oct 14, 2015By Park Jin-hai

Companies

Local builders sign oil refinery contracts in Kuwait

Daewoo E&C CEO Park Young-sik shakes hands with Mohammad Ghazi Al-Mutairi, Kuwait National Petroleum Company (KNPC) CEO, during a signing ceremony at KNPC’s headquarters in Kuwait, Tuesday./ Courtesy of Daewoo E&CBy Park Jin-haiFive local builders, including Daewoo E&C and Hyundai E&C, have signed contracts with the Kuwait National Petroleum Company, the companies announced Wednesday.In the $13 billion mega construction project to build the world's largest oil refinery in Al Zour, with a production capacity of 615,000 barrels a day, local builders won four out of five packages, bagging a total of $4.54 billion in contracts.Hanwha E&C, in consortium with Spain’s Tecnicas Reunidas and China’s Sinopec, won the Package One contract; while Daewoo E&C, together with Hyundai Heavy Industries and American engineering company Fluor won the Package Two and Package Three contracts. Hyundai E&C, in consortium with SK E&C and Italian oil company Saipem won Package Five.Daewoo E&C won the largest portion among the local builders in the pro

Oct 14, 2015By Park Jin-hai

Companies

BMW launches new 7 series luxury limousine

Models pose next to the all new BMW 7 Series, during a launch event at the BMW Driving Center in Incheon, Wednesday. / Courtesy of BMW KoreaBy Park Jin-haiBMW has launched its flagship 7 Series luxury limousine, competing against the Mercedes-Benz S Class here in Korea.The sixth-generation 7 Series, premiering at the Frankfurt motor show in June, provides new standards for BMW with its lightweight design, driving dynamics, luxury features and cutting-edge technologies.“In the year, marking the 20th anniversary of opening its Korean office, the new 7 Series was launched, building the foundation for another 20 successful years here,” said BMW Korea CEO Kim Hyo-joon, during the launch event at the BMW Driving Center in Incheon.“Korean customers will surely give the strongest response to this vehicle with its great performance and design.”The company said 1,000 customers had already ordered the latest 7 Series.One of the most striking features of the new 7 Series is fully autonomous automatic parking. The remote-control parking feature enables owners to move the c

Oct 14, 2015By Park Jin-hai

BMW launches new 7 series luxury limousine

Companies

Bentley launches Korean edition Flying Spur

Models with a limited edition Flying Spur made for the Korean market during a sales event held at the Shilla Hotel, in Seoul, Tuesday. Bentley Korea unveiled the two Flying Spur luxury sedans created by designer Lee Sang-yup under its Mulliner bespoke service. / YonhapBy Park Jin-haiBentley Korea unveiled Tuesday two limited edition Flying Spur luxury sedans only for the Korean market,.They were created for customers under the guidance of Lee Sang-yup, Bentley Motors’ head of exterior and advanced design.The black edition is a two-toned car themed after business suits, while the white edition has been inspired by white porcelain.They are manufactured by Bentley’s special customized bespoke service Mulliner, where customers can choose up to 120,000 options including the color of the leather and stitches, and wheel hub shapes.Calling them “the two most limited Bentleys in the world,” Lee said he wanted to represent the Korea culture where dynamic and static characteristics coexist, as well as the U.K. that incorporated the noble and commoner culture.The company

Oct 13, 2015By Park Jin-hai

Companies

VW Korea stops local sales of emission cheating vehicles

By Park Jin-haiAs complaints about the emissions scandal surrounding Volkswagen cars continues to grow, with customers seeking class action lawsuits here and in the United States, Volkswagen Korea has stopped selling the affected models here.It has been taking back Euro 5 emission standard models, including the Passat 2.0 TDI, Tiguan and Beetle, from its dealers since last week.VW made the decision on its own, not directed from headquarters in Germany, in order to ease the sales burden of its dealers for the troubled models.With the measure, the company estimates that it is hoarding 300 to 400 vehicles in stock, worth 12 to 16 billion won, according to the company.“We have been taking back those cars from dealers with no strings attached. We think almost all cars suspected will be returned to us,” said a company spokesman.The returned cars will be either returned to Germany or be used for internal use, said the company.Although those cars have been under a government probe here, their sales are banned in countries like the United States and Switzerland.The company has bee

Oct 13, 2015By Park Jin-hai

Companies

Kumho begins selling winter tires

By Park Jin-haiKumho Tire’s Winter Craft KW27tire. / Courtesy of Kumho TireKumho Tire started a sales promotion for winter tires Monday.Customers can buy winter tires and drop off their old tires for free storage.On offer are Winter Craft KW27, a premium tire with maximum braking and traction power, and the I'Zen KW17 tire for SUVs.Winter tires are designed and manufactured for unexpected, harsh road conditions, to help motorists drive safely during the winter.Kumho Tire is offering free storage for people who purchase winter tires at service centers in Seoul, Incheon and Gyeonggi Province.“To promote safer winter driving, Kumho Tire introduced the free storage service in 2013,” a company spokesman said. “Motorists can pre-order winter tires and have them installed when they want. We strongly recommend that drivers run on winter tires for safe driving.”As part of the sale promotion, which will continue until the end of November, those who reserve tires will also receive a jacket worth 120,000 won.For more information, visit the company’s website (w

Oct 12, 2015By Park Jin-hai

Park Jin-hai

Read more

KEPCO, Maryland agree to cooperate on new energy sector

Hyundai, U.S. Energy Department cooperate in selling more cars with fuel cells

Audi Volkswagen Korea to recall two years after gov't order

POSCO E&C breaks ground for nation's tallest apartment complex

JTI Korea to recruit young talent

Local builders sign oil refinery contracts in Kuwait

BMW launches new 7 series luxury limousine

Bentley launches Korean edition Flying Spur

VW Korea stops local sales of emission cheating vehicles

Kumho begins selling winter tires

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