Hyundai Development aims to be leading global developer

Korean construction companies are striving to expand their global business and diversify project portfolios, as a priority of their growth strategies. 　

Hyundai Development Company, the country’s leading developer in housing, civil works and urban development, is venturing into new sectors such as plant construction, renewable energy and resources development.　

The contractor has launched its new business plan, Vision 2016, with the catchphrase “Takeoff and Growth through Change and Innovation.” It seeks to drive “organized growth” by intensifying its presence overseas while differentiating customer value.　

Established in 1976, Hyundai Development has implemented multiple major civil works throughout the country. 　

Its business sphere ranges from the construction of roads, highways, bridges, railways, subways, harbors, power plants to environmental plants, playing important roles in projects such as construction of national expressways including Gyeongbu, Jungbu and Seoul Circular.

 

POSCO to help patriots, families

POSCO on Sunday introduced a set of support programs to help national patriots, including independence fighters, and their families. 

The program is open to those who currently require government support to meet living expenses and those in the low income groups. 

As part of the program, POSCO Microcredit Bank will offer up to 50 million won ($42,000) loans at 4.5 percent interest for starting a business to those who meet the requirements.

The steelmaker will also give preferential treatment when they seek employment at one of POSCO’s four social enterprises.

The four POSCO affiliated social enterprises currently employee about 480 people, and plan to hire an additional 240 people by 2012.

In addition, the company said that it will offer a range of services including nursing, home repair and bathing services to the elderly among those eligible for the program. 

Beer, chicken sales enjoy World Cup bonanza

Korean World Cup fans were frustrated on Thursday when their national team was crushed by Argentina 4-1. For Lee Sang-soon, however, it was one of the most exciting nights in years with his beer bar packed with people and delivery orders piling up. 

KT to get iPhone 4 pre-orders

KT, the exclusive distributor of Apple’s iPhone, said Sunday it will accept pre-orders for the new iPhone 4 starting Wednesday ahead of its launch here in September.




The country’s No. 2 mobile carrier said it will begin taking applications at its website (http://www.phonestore.co.kr) and its 2,900 shops nationwide.

“KT is planning to release the new iPhone 4, which has a completely different look, next month,” said Pyo Hyun-myung, president of mobile business group at KT.

The company, however, did not give an exact release date of the new model.

Earlier this month, the new iPhone 4 received the Korean government’s approval required for its domestic release.

KT to get iPhone 4 pre-orders

KT, the exclusive distributor of Apple’s iPhone, said Sunday it will accept pre-orders for the new iPhone 4 starting Wednesday ahead of its launch here in September.



The country’s No. 2 mobile carrier said it will begin taking applications at its website (http://www.phonestore.co.kr) and its 2,900 shops nationwide.

“KT is planning to release the new iPhone 4, which has a completely different look, next month,” said Pyo Hyun-myung, president of mobile business group at KT.

The company, however, did not give an exact release date of the new model.

Earlier this month, the new iPhone 4 received the Korean government’s approval required for its domestic release.

‘Concept Korea II’ to debut in N.Y. Fashion Week

All eyes will be on three up and coming Korean fashion designers for some two hours of the 2011 S/S New York Fashion Week which runs from Sept. 9 to 16. 

Kwak Hyun-joo, designer of Pucca by Kwak Hyun Joo, “Resurrection” designer Lee Joo-young, and designer Lee Jean-youn of Lee Jean Youn will showcase their 2011 S/S collections under the name “Concept Korea Ⅱ” at Lincoln Center at 7 p.m. Sept. 9. Co-hosted by the Culture Ministry and Daegu Metropolitan City Government and co-organized by Korea Creative Content Agency and Korea Research Institute for Fashion Industry to help Korean fashion designers crack into the highly competitive global fashion market, the “Concept Korea” project was initiated last February. 

While “Concept Korea I” featured six Korean designers at a showroom away from the main New York Fashion Week stages, “Concept Korea Ⅱ” is on the official Fashion Week schedule and is expected to fill 1,000 seats. 

In addition to the three designers who will show in September under the category of “New Talent,” five more established designers ― Doho, designer of the brand Doho; Lee Sang-bong, designer of Lie Sang Bong Paris; Jeong Hyuk-seo and Bae Seung-yeon, designers of Steve J & Yoni P and Choi Bum-suk, creative director of General Idea ― will participate in the second part of the “Concept Korea II” project, grouped as “The Talent,” in February.

“The Talent” team will showcase their collections at a Business Showroom, separate from the Fashion Week stages. 

Mercedes, BMW, Audi rely on China for luxury car sales as Germany slows

Bayerische Motoren Werke AG, the world’s largest luxury carmaker, Volkswagen AG’s Audi unit and Daimler AG are countering sales at home by selling more cars in China even as industry-wide demand cools in the world’s largest auto market.

Audi sold 53 percent more cars in China in July compared with a year earlier, while Daimler, the world’s second-largest luxury-car maker, tripled sales of its Mercedes-Benz brand to 14,500 vehicles and BMW raised is deliveries 82 percent to 13,852, the companies said this month. Sales of Audi and Mercedes fell in Germany for the month, while BMW sales increased 4 percent.

Demand for upscale cars in China may outstrip the overall car market during 2010 as a growing number of wealthy Chinese boosts sales. Research group J.D. Power & Associates estimates sales of luxury vehicles in the nation will rise at almost double the industry pace of 20 percent to 530,000 units this year and reach 1.1 million by 2015.

“Limited competition, very strong growth and a willingness to spend money. That combination is just explosive,” said Michael Dunne, president of automotive research firm Dunne & Co. Rich Chinese are “declaring their success to their friends, family and colleagues with what kind of car they are driving,” he said.

Sales in China are helping the German automakers increase profit even as car sales rose just 0.6 percent in Europe during the first six months of the years, their most important region by deliveries.

Vehicle registrations in Germany fell 30 percent in July, according to figures from the Federal Motor Vehicle Office in Flensburg.

Volkswagen reported the biggest quarterly profit in two years on July 29 in part because of demand in China for Audi models.