The Korea Times

Hyundai Sonata to take on Google's infotainment

By Park Jin-haiHyundai Motor’s 2015 Sonata will have Google’s infotainment system, Android Auto, in a first among global carmakers, Hyundai Motor America said Wednesday.Android Auto debuted last June at Google’s annual developer-focused conference. It enables drivers to make phone calls, listen to music apps and use Google’s mapping service by simply plugging a compatible phone (Android 5.0 or newer) into the car’s dashboard. “Android Auto aligns with Hyundai’s core interior design principles of safety, intuitiveness and simplicity,” said Dave Zuchowski, president and CEO of Hyundai Motor America. “We launched this highly anticipated feature on our best-selling Sonata, adding to our promise of value. With the launch of Android Auto, we provide more owners with the experience of cutting-edge technology.”Android Auto helps keep drivers’ eyes and attention on the road by integrating the advanced driving-related functions of the user’s smartphone with the familiar centralized screen, physical controls and microp

May 27, 2015By Park Jin-hai

Companies

Hyundai E&C leads construction boom in Iraq

The Hyundai E&C’s construction site in Habshan, southwesternAbu Dhabi, the United Arab Emirates. Hyundai won the $1.7 billion project from Iraq’s state gas company GASCO in 2009 to build a gas processing facility./ Courtesy of Hyundai E&CBy Park Jin-haiHyundai Engineering and Construction (E&C) is leading a second construction boom in Iraq.Last February, the company, signed a contract with the Iraq government to build an oil refinery in Kerbala, Iraq, 120 kilometers south of the country’s capital Bagdad.“The oil refinery construction contract signed last February will go down in Korean construction history,” said a company official.The $6.04 billion contract Hyundai E&C won in a consortium with three other Korean firms has been the largest single plant construction overseas project the company has ever had.    “It’s not only the size of the contract but also the way we bagged the project that has been praised highly. The joint venture is a successful model for overseas construction projects, where our rivals GS

May 27, 2015By Park Jin-hai

Companies

Mercedes marketing chief says Korea is crucial market

Mercedes-Benz S500 Plug-in Hybrid and AMG models, featuring intelligent drive features are parked for test-drive, at KINTEX, Ilsan, Gyeonggi Province, Tuesday./ YonhapBy Park Jin-haiMercedes-Benz held a workshop here on the car maker’s Intelligent Drive package, Tuesday.The presentation introduced its smart features, which make the pillars of autonomous driving, including steering assist Distronic Plus, which keeps vehicles in the center lane of traffic and adjusts steering automatically, and cross traffic assists BAS Plus, which spots danger at junctions and warns drivers.It held a test-drive event to show the technological advances the automaker has made in the field of safe and connected driving.The company says that Korea is an important market as a test bed for technological innovations, said visiting German brand’s marketing chief.“Korean market is very important to Mercedes-Benz. It is one of our top 10 markets around the world,” said Ola Kallenius,   sales & marketing head for Mercedes-Benz Cars, during the Intelligent Drive Workshop, at KINTE

May 26, 2015By Park Jin-hai

Mercedes marketing chief says Korea is crucial market

Companies

Fila Korea to open flagship store in Hong Kong

By Park Jin-haiFila Korea has opened its first flagship store in Hong Kong, the company said Monday.The 231 square meter store, located in the upscale shopping mall I Square in Tsim Sha Tsui, has been designed to show its brand identity and will serve as a springboard for the company’s market expansion into China.  “It is more than just expanding business opportunities in China, one of the most important markets together with the United States. The store’s symbolic meaning is so much greater,” said Yoon Yoon-soo, chairman of Fila International and Acushnet, during the opening ceremony Friday.“By showing Fila’s brand image to locals and tourists, the store will enforce the company’s global brand image,” added Yoon.Fila Korea, wholly owned and operated in Korea since the 2007 takeover of the Italian sportswear manufacturer Fila, has been actively expanding in China.The company established a joint venture Fila China, locally known as Full Prospect, with China’s ANTA, seeking business opportunities i

May 18, 2015By Park Jin-hai

Companies

DSME bags two oil tanker orders from Greece

By Park Jin-haiDaewoo Shipbuilding & Marine Engineering (DSME) said Monday that it had won an order to build two large crude carriers for Maran Tankers, an affiliate of the Greek shipping giant Angelicoussis Shipping Group.It will deliver two 156,000 ton Very Large Crude-oil Carriers (VLCC) by early 2017.The company did not disclose the value of the order at the request of the Greek shipper.However, given a single carrier costs about $65 million the contract is estimated to be about $130 million.  This is DSME’s second order from Maran Tankers following last month when it won another order for two VLCCs.The Suezmax Class carriers, with 130,000 to 150,000 dead weight tonnage, will be built at the company’s shipyard in Okpo, South Gyeongsang Province.“The competitiveness of a company starts from reinforcing the trust with current buyers. With close cooperation with the union, we will repay their trust by delivering top-quality vessels right on time,” newly-appointed CEO Chung Sung-rip said.Angelicoussis Shipping Group, since its first order in 1994, has

May 18, 2015By Park Jin-hai

Companies

Hyundai union wants to influence production amount

By Park Jin-haiThe trade union at Hyundai Motor will demand that the company consult with labor before it decides on its overseas production levels.“Management should immediately review the possibility of establishing new plants here,” the union said on Wednesday. “It also should agree with the union on the volume of production of its domestic and global markets.”It is the first time the labor union has made such a demand. Union leaders will soon discuss the demand with management once the union makes a final decision on the agenda.Hyundai has been increasing production in its overseas markets while cutting local production, upping the sense of insecurity for employment among union members.The percentage of domestic production in Hyundai’s global output has plunged in recent years. It plummeted to 37.9 percent last year, from 94.5 percent in 2001. It has been forecast to drop to 28 percent by 2020.According to labor’s production survey, Hyundai has plants in China, the United States, Brazil, India, Czech Republic, Turkey and Russia. It said out of

May 13, 2015By Park Jin-hai

Companies

Hyundai Vice Chair flies to Russia

By Park Jin-haiChung Eui-sunvice chairmanHyundai Motor Vice Chairman Chung Eui-sun departed for Russia to establish contingency plans against the worsening productivity of its Russian plant on the heels of the falling ruble.The Russian auto industry has been hit hard in the wake of the recent global economic slump. Coupled with the collapse of the ruble, global auto giants have taken steps either to reduce their production or to stop operations there.General Motors retreated from Russia, stopping operations at its local assembly plant.However, Hyundai Motor has been taking the opposite course.Chung has ordered its Russian officials to expand its market share in preparation for when the Russian economy starts to rebound.Last year, Hyundai and its sibling firm Kia Motors sold a total of 374,000 cars in Russia.In order to buffer the effects of the falling ruble, Hyundai has lowered its exports to Russia to less than 10 percent, while running its Russian plant at maximum capacity.Previously Hyundai’s exports to Russia accounted for 40 percent of total sales made in the country. As

May 12, 2015By Park Jin-hai

Companies

POSCO Energy mulls over setting up investment firm

By Park Jin-haiPOSCO Energy is considering establishing a joint investment firm with the National Pension Service (NPS) to prop up its overseas investment projects.According to the proposed deal under consideration, POSCO Energy, the NPS and other investors would raise 570 billion won for the investment fund, officials said.The NPS is considering investing 400 billion won and POSCO Energy 170 billion won, officials said.An NPS official said, “We are reviewing the establishment of the investment fund. The talks are in the initial stage and we have yet to fix exact investment amounts.”The official declined to be named.Separately, a POSCO Energy official said, “We are discussing the possibility of establishing a joint investment firm. But, it is too early to comment on the details of the deal with NPS.”    When the deal is closed, financial investors will provide 70 percent of funds required to set up a special purpose corporation for the construction of overseas power plants, and POSCO the remaining 30 percent.The investors in return will receive

May 11, 2015By Park Jin-hai

Companies

PHEV buyers to get subsidies next year

By Park Jin-haiThe government plans to provide subsidies for people who buy plug-in hybrid electric vehicle (PHEV) as early as next year.The Ministry of Environment said Monday that it has been taking steps to provide a maximum of 6 million won in subsidies for PHEV buyers in order to boost demand for the environmentally friendly, but expensive vehicle.A PHEV can either run on a battery for short distances or on an internal combustion engine for longer journeys. It has better fuel efficiency, because the range it can travel on its battery is further than that of a hybrid car.According to the ministry’s draft, it will request a total of 30 billion won to give financial support to buyers of 5,000 cars.The ministry has given 1 million won in subsidies to hybrid car buyers, 15 million won for EVs, and 27.5 million won for fuel cell electric vehicles.But PHEV buyers, although the prices of their cars are more expensive than hybrid cars, have not received financial support from the government.Due to the lack of guidelines for subsidies, Hyundai has put off the launch of the Sonata PH

May 11, 2015By Park Jin-hai

Companies

Pet industry enjoying boom

A woman and her dog wait to take part in a dog show in Yangjae-dong, Seoul, in this file photo. / Korea TimesBy Park Jin-haiKim Sun-ha, 27, says she spares no expense when it comes to caring for her two puppies ― a two year old Chihuahua and 14-year old Poodle.“Opening up my purse for them is not an issue, because they are my family members,” she said. “As my Poodle has aged, my family decided to buy another puppy in the hope that the little one will buffer the grievance we will feel when we have to bid farewell to the first one.”She admits that the average expenditure on her pets has dramatically increased over the years.“When I had the first puppy, it was the norm to bring him to a vet to take shots. Now many other things have become the norm including grooming and regular health checkups that cost as much as checkups for a person,” she said.Kim said she spends the most on buying dog treats. There are many varieties to choose from organic and handmade to cavity preventing dog bites.Despite the dwindling domestic economy, the pet industry is

May 10, 2015By Park Jin-hai

Park Jin-hai

Read more

Hyundai Sonata to take on Google's infotainment

Hyundai E&C leads construction boom in Iraq

Mercedes marketing chief says Korea is crucial market

Fila Korea to open flagship store in Hong Kong

DSME bags two oil tanker orders from Greece

Hyundai union wants to influence production amount

Hyundai Vice Chair flies to Russia

POSCO Energy mulls over setting up investment firm

PHEV buyers to get subsidies next year

Pet industry enjoying boom

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