Unionized sailors at South Korea’s largest shipper HMM have suspended plans for a strike and will hold a new round of wage negotiations with management next week, union representatives said Wednesday. “The union leaders and the chairman of the land-based workers’ union held talks with HMM’s CEO Bae Jae-hoon the previous day, and as a result we decided to negotiate again on Sept. 1,” HMM’s longshore union said in a press release Wednesday. Earlier in the w

Industry Aug. 25, 2021

Hyundai Livart, a furniture brand under Hyundai Department Store, is introducing a luxury Italian furniture brand to South Korea, as it bids to expand into the luxury segment. The company said Wednesday it is opening a showroom for Giorgetti at two Hyundai Department Stores -- the Trade Center branch in Samseong-dong and Pangyo branch in Gyeonggi Province -- on Thursday. Some 50 products from the Italian brand, ranging from chairs, tables and sofas to kitchenware, will be made available at

Consumer Aug. 25, 2021

South Korea’s largest shipper HMM may be headed for its first labor strike, stoking fears of a major disruption in maritime shipping. Following a vote by longshore workers in favor of a walkout on Tuesday, remaining staff at the company will decide whether to join the collective action in a poll next Monday.  Demanding steeper pay raises, the unionized workers say they will not just stay away from work, but may just quit the company en masse if their demands are not met. On Tues

Industry Aug. 24, 2021

The South Korean government said Monday that it was taking measures to cope with any potential disruptions in maritime shipping as a labor strike loomed at the country’s largest shipper, HMM. Earlier in the day, nearly 88 percent of the 453 unionized longshore workers at HMM voted in favor of the collective action, as their wage negotiations with the company management remained deadlocked. If realized, it would be the first labor strike at the company. It is unclear when the union pl

Industry Aug. 23, 2021

China has been outperforming South Korea in several competitiveness rankings, a report published by the Federation of Korea Industries showed Monday, having already overtaken its neighbor in several other measures. In the 2021 IMD Competitiveness Ranking. South Korea rose nine ranks from 32nd place in 1994 to 23rd in 2021, while China shot up from 34th in 1994 to 16th this year. In the Competitive Industrial Performance list, created by the United Nations Industrial Development Organization

Industry Aug. 23, 2021

As climate change requires attention both locally and globally, green and healthy forests have proven to be beneficial not just in the immediate areas where they are located, but also entire regions and across the whole planet. The Korea Forest Service’s work, therefore, goes beyond the country’s borders. It has for years been making efforts to enhance sustainable management of forests in developing countries, the state-run agency said Monday. Such efforts are in line with the

Industry Aug. 23, 2021

Unionized longshore workers at South Korea’s largest shipper, HMM, began voting Sunday on whether to go on strike after three rounds of wage negotiations failed. Should they vote in favor of the collection action, it will mark the first strike at the shipper since its establishment in 1796. The longshore workers’ union has around 450 members. Results are scheduled to come out Monday afternoon. The motion is likely to pass, according to local media reports, as the labor union an

Mobility Aug. 22, 2021

Samsung’s new smartphone models -- Galaxy Z Fold3 and Galaxy Z Flip3 -- have not been launched yet but preorder figures suggest they are likely to be a super hit. The two models are estimated to have logged a combined 450,000 preorders as of Sunday, according to local media reports that cited unnamed industry sources. Advance orders, which began Aug. 17, are to end Monday. Total preorders could reach at least 600,000 units, they said. If sales of unlocked phones, or phones not locked

Technology Aug. 22, 2021

Once serving as the first South Korean-made railway, the Gyeongchun Line delivered cargo, people and memories between Seoul and Chuncheon, Gangwon Province, for more than seven decades beginning 1939. The line terminated operations in 2010, but was reborn into a forest park a few years later.  Gyeongchun Line Forest Park is located in Nowon-gu, northern Seoul. The 6-kilometer-long park is divided into three sections. In the first section, visitors are welcomed with eye-catching murals, c

Travel Aug. 21, 2021

KT Corp., South Korea’s leading mobile carrier, said Wednesday that it aims to debut a “hyperscale artificial intelligence” model by next year through joint research with universities and a state-run research center. According to the company, AI One Team, a research alliance comprising representatives of industry, academia and a public research organization, has signed an agreement with KT to conduct the project together. AI One Team involves 10 organizations, including the

Technology Aug. 18, 2021

South Korean entertainment company CJ ENM is suing LG Uplus, accusing the mobile network operator of failing to pay usage fees for the CJ ENM content it provided via its IPTV service. The content arm of CJ Group confirmed Tuesday that it had filed a civil action with the Seoul Central District Court last week. The firm is seeking compensation for the alleged violation of its intellectual property rights over the past 10 years. “From 2009 to March 2019, LG Uplus provided video-on-demand

Industry Aug. 17, 2021

Kakao Group, which operates messenger app KakaoTalk, has established two new blockchain entities in Singapore in an effort to expand its blockchain platform abroad and chase after its biggest competitor, Naver. According to local media reports Monday, Kakao recently founded the nonprofit Klaytn Foundation and global accelerator unit Krust in the city-state. With the two at the forefront, the South Korean internet giant will pursue the globalization of its public blockchain project, Klaytn,

Technology Aug. 16, 2021

Samsung SDI may build a battery plant in central Illinois, according to a report by Reuters on Friday. The news came after Illinois Sen. Dick Durbin said in a press conference that there were discussions to bring in a “major Samsung battery facility” during their meeting with South Korean delegations this week. While the decision has not been finalized, said Durbin, the facility will possibly be next to electric-vehicle start-up Rivian, which said in April it would source EV batt

Technology Aug. 13, 2021

South Korea surpassed Japan in major economic indicators over the past 30 years, but still lags behind in technological competitiveness, a report published by the Federation of Korean Industries said Thursday. The report, which compared the economic development of the two countries from the early 1990s onward, cited several international rankings to back up its claim for Korea’s advances. The 2020 IMD Competitiveness Ranking, for one, placed South Korea at 23rd place and Japan at 34th

Industry Aug. 12, 2021

Parcel deliveries will not be made from Saturday to next Monday to give delivery workers a break, following calls last year to improve the working conditions of delivery workers. According to industry officials Thursday, four major logistics companies – CJ Logistics, Lotte Logistics, Hanjin Transportation and Logen -- agreed to have Saturday, Aug. 14, as a “no parcel day,” allowing delivery workers a three-day holiday until next Monday. Monday has been designated as a subs

Consumer Aug. 12, 2021