Journalist

Oh Jooseok
  • T’way Air Says Top Shareholder Sono International Will Subscribe to Full Rights Offering Allocation
    T’way Air Says Top Shareholder Sono International Will Subscribe to Full Rights Offering Allocation T’way Air said its top shareholder, Sono International, will subscribe to 100% of the 26.85 million common shares allocated to it in the company’s rights offering for existing shareholders, which runs for two days from March 11-12. The airline said the decision reflects Sono International’s firm confidence in T’way Air’s mid- to long-term vision and future growth value. It added that, despite volatility in the domestic and global economic environment, the top shareholder’s full participation is intended to support shareholder value and responsible management. T’way Air said it will focus the funds raised on securing key future growth engines. Starting in the second half of this year, it plans to add A330-900NEO aircraft to strengthen fleet competitiveness. The carrier also said it will continue expanding long-haul routes, including to Europe, North America and Australia. The company said it will also invest in upgrading its flight safety systems and improving service quality, with the goal of building passenger infrastructure at a global level. The capital increase is expected to help improve T’way Air’s financial structure. A T’way Air official said, “Through this capital increase, we will strengthen T’way Air’s financial stability and lay the groundwork for a bigger leap to become a global airline.”* This article has been translated by AI. 2026-03-11 12:03:20
  • Mercedes-Benz Korea Launches In-Car App for Service Center Bookings
    Mercedes-Benz Korea Launches In-Car App for Service Center Bookings Mercedes-Benz Korea said on the 11th it has launched an “Onboard Service Application” that lets drivers book service-center appointments through the vehicle’s central display. The company said the service is the first of its kind in the imported-car segment. It follows the official website and mobile app as another option aimed at improving digital convenience. Through the in-car screen, drivers can check the vehicle’s current service status. If the system identifies needed maintenance, it provides a suggested service along with an online booking notification. The app is available for vehicles equipped with second- or third-generation MBUX infotainment systems or later. If digital service activation requirements are met, the application is automatically installed via an over-the-air update.* This article has been translated by AI. 2026-03-11 11:07:30
  • Hanwha to Debut L-SAM Missile Defense System at Belgium’s BEDEX Arms Show
    Hanwha to Debut L-SAM Missile Defense System at Belgium’s BEDEX Arms Show Hanwha will showcase South Korea’s long-range surface-to-air missile interceptor, known as the L-SAM, at the BEDEX defense exhibition in Belgium, aiming to expand sales in the global market. Hanwha Aerospace and Hanwha Systems said Wednesday they are taking part in BEDEX in Brussels from March 12-14, marking the first participation by a South Korean company. The exhibition, being held in Belgium for the first time, is set to draw major defense firms including Rheinmetall, KNDS and Raytheon, among other European and global companies. Hanwha said it is moving early to establish a foothold in Western Europe by exhibiting in Belgium, home to NATO headquarters. Belgium is pursuing a layered air defense network as a top defense priority. Hanwha Aerospace plans to display the L-SAM interceptor missile and launcher, while Hanwha Systems will exhibit a multifunction radar, the Cheongwang laser air defense weapon and a laser armored vehicle under development. Often described as a South Korean version of THAAD, the L-SAM is a long-range surface-to-air missile system designed to hit and destroy ballistic missiles at altitudes above 40 kilometers using a hit-to-kill method. Development was completed in 2024, and mass production began last year. Hanwha said the system can intercept fast, medium-range ballistic missiles descending from high altitude, enabling rapid response. The company also plans to emphasize its ability to support quick fielding tailored to local requirements as European countries accelerate efforts to strengthen missile defense networks. Hanwha Aerospace will also introduce the Chunmoo multiple rocket launcher to Western European customers. The system’s European operators have expanded beyond Poland to include Estonia and Norway. At the exhibition, Hanwha will display a Chunmoo launcher and four types of guided rockets with ranges of 80 kilometers to 290 kilometers. “Belgium is a key hub for European security, hosting NATO headquarters and major European Union institutions,” a Hanwha official said. “Building on Hanwha’s standing as a strategic partner to NATO, strengthened through exports such as the K9 self-propelled howitzer, we will actively seek cooperation to present our air defense and ground firepower capabilities in Europe and contribute to strengthening the defense capabilities of NATO member states.”* This article has been translated by AI. 2026-03-11 10:39:49
  • Porsche Unveils New Cayenne S Electric With 544-HP AWD System
    Porsche Unveils New Cayenne S Electric With 544-HP AWD System Porsche AG on Tuesday unveiled the new Cayenne S Electric, an all-electric sport utility vehicle. Positioned between the Cayenne Electric and the range-topping Cayenne Turbo Electric, the Cayenne S Electric adds 224 PS over the base model, with a sharper exterior design and a broad list of options, the company said. Its drive system uses permanent-magnet synchronous motors on the front and rear axles, producing 544 PS. With launch control, system output rises to as much as 666 PS. The model accelerates from 0 to 100 kph in 3.8 seconds and has a top speed of 250 kph. Driving range is up to 653 kilometers under the WLTP standard. An optional push-to-pass function can deliver up to an additional 122 PS for 10 seconds. The Cayenne S Electric uses the same 113-kWh high-voltage battery fitted to the Cayenne Electric and Cayenne Turbo Electric. At a compatible fast-charging station, it can charge from 10% to 80% in under 16 minutes at up to 400 kW, Porsche said. The exterior features model-specific front and rear aprons in Volcano Gray Metallic, with inserts and the diffuser finished in the body color. It also comes with 20-inch Cayenne S Aero wheels. Porsche said buyers can choose from 13 exterior colors, along with multiple interior and accent packages. Porsche Exclusive Manufaktur will offer packages under its “Style” product line developed with the Style Porsche design studio. One configuration pairs Mystic Green Metallic paint with a mix of colors and materials aimed at a modern, exclusive look. Aluminum trim in Isarbal Green contrasts with leather surfaces. A black leather GT sports steering wheel features a 12 o’clock marker and Delgada Green cross-stitching. In South Korea, the Cayenne S Electric will be priced at 163.8 million won and is scheduled to go on sale in the second half of this year.* This article has been translated by AI. 2026-03-11 10:24:17
  • BYD Korea Launches Nationwide Roadshow for Dolphin Electric Hatchback
    BYD Korea Launches Nationwide Roadshow for Dolphin Electric Hatchback BYD Korea said Tuesday it is launching a nationwide traveling exhibition program, the “BYD Dolphin Roadshow.” The roadshow is designed to let people see and experience the small electric hatchback Dolphin, which was released in February, in everyday settings. The vehicle is carried in a specially made transparent showcase trailer that tours major cities as a “mobile showroom.” Running from Tuesday through April 4, the tour starts in the Seoul metropolitan area and will travel to Daegu, Busan, Daejeon, Gwangju and Jeju. The trailer will move among high-traffic locations such as areas near train stations and local landmarks. BYD Korea is also holding promotional events. Anyone who scans a QR code on the trailer and enters basic information will receive a mobile coffee coupon. The company will also hold a drawing for Dolphin buyers, offering prizes including airline tickets, a coffee machine and a hair dryer. “This roadshow was prepared to deliver the appeal of the BYD Dolphin, which is loved in global markets, in a closer and more friendly way,” a BYD Korea official said.* This article has been translated by AI. 2026-03-11 09:57:54
  • Renault Group Targets 36 New Models by 2030, Pushes Electrification and Global Growth
    Renault Group Targets 36 New Models by 2030, Pushes Electrification and Global Growth Renault Group has laid out a mid- to long-term strategy targeting 36 new vehicle launches by 2030 and annual sales of 2 million units. The plan centers on accelerating the shift to electrification, led by electric and hybrid models, while expanding in global markets. Renault Korea said March 11 that the group announced the “Future Ready Plan” on March 10 local time at its headquarters in France. Built around key brands including Renault, Dacia and Alpine, the plan calls for 36 new models from this year through 2030. The group also set targets of a 5% to 7% operating profit margin and average annual cash flow of more than 1.5 billion euros, aiming to fund new-model development and electrification investment. Renault Group has been pursuing restructuring under its “Renaulution” strategy announced in 2021. The Future Ready Plan is seen as the next phase, moving more fully into electrification and global business expansion. The Renault brand aligned its priorities with the group plan around three drivers: strengthening its position in Europe, expanding electrification across its lineup, and boosting markets outside Europe. It set a goal of launching 26 new models by 2030 and selling more than 2 million vehicles a year across Europe and other markets. In Europe, Renault plans to introduce 12 new models by 2030, expanding electric and hybrid offerings not only in its core A and B segments but also in the C and D segments. Its electrification push will be led by both battery-electric vehicles and its E-Tech hybrid lineup. Renault said it will keep its hybrid lineup in Europe even after 2030. Renault also introduced a new RGEV Medium 2.0 platform aimed at the European C and D segment EV market. The modular architecture is designed to cover B-plus through D segments and support multiple body types. The company said it features extended driving range, an 800-volt architecture for ultra-fast charging, advanced technology and optimized efficiency. Renault said it aims to sell more than 2 million vehicles annually by 2030, with half of that volume coming from outside Europe. It added that it will maximize the potential of five global hubs: South Korea, India, Morocco, Turkey and Latin America. Under its International Game Plan 2027, Renault said it will add 14 new models in markets outside Europe by 2030, following five models already introduced: Kardian, Duster, Grand Koleos, Boreal and Filante. It also said it will continue developing vehicles tailored to market conditions by actively using strategic partnerships, including with Geely Group. 2026-03-11 09:36:00
  • Innocean Breaks Into Ad Age’s 2026 A-List Top 10 in the U.S.
    Innocean Breaks Into Ad Age’s 2026 A-List Top 10 in the U.S. Hyundai Motor Group’s advertising agency Innocean has been named one of the top 10 marketing companies in the United States, the first South Korean ad company to make the list. Innocean said Wednesday that it was selected for the top 10 of the “2026 A-List” released by marketing trade publication Ad Age. The company called it its biggest achievement since establishing its U.S. subsidiary 18 years ago. Ad Age compiles the annual list by evaluating agencies active in the U.S. market on creative performance, business results and industry influence. Innocean attributed the recognition to capabilities built steadily by its U.S. unit. Founded in 2008, Innocean USA expanded its presence with creative work and brand experiences, including producing a Super Bowl ad in 2010, a first for a South Korean advertising company. Jeon Il-soo, Innocean’s head of global business and vice president leading the Americas regional headquarters, said the company has “consistently worked to recruit talented people, strengthen teamwork and build capabilities.” He said management efforts to broaden its client base and lay a foundation for sustainable growth were recognized by the industry. Innocean, marking its 21st anniversary this year, has also built its profile globally. It ranked No. 1 in a 2016 Super Bowl ad preference survey with the Genesis campaign “First Date,” the first time a non-U.S. company topped the survey, and it won the Cannes Lions Grand Prix for two consecutive years in 2025 before being named to the 2026 A-List. The company also reported solid business growth. Innocean USA posted 2025 revenue of $460 million, up 7.7% from a year earlier, ranking second in Southern California. Its clients include Hyundai, Kia, Genesis, Hankook Tire, chicken fast-food chain El Pollo Loco, hot dog restaurant chain Wienerschnitzel and Jinro USA. CEO Kim Jeong-a said the result “goes beyond the success of a single campaign” and reflects combined strength in creativity, business and organizational competitiveness. She said Innocean will further strengthen its position as a global partner by delivering measurable business results for clients through differentiated ideas and integrated marketing capabilities.* This article has been translated by AI. 2026-03-11 09:03:56
  • South Korea Moves L-SAM Into Mass Production as Middle East Air Defense Demand Rises
    South Korea Moves L-SAM Into Mass Production as Middle East Air Defense Demand Rises Demand for air defense networks is rising in the Middle East following the war involving the United States and Israel and Iran. After the midrange Cheongung-II was deployed in combat, South Korea has moved its long-range surface-to-air missile system, L-SAM — often described domestically as a “Korean-style THAAD” — into mass production. The rollout of new Korean air defense systems is expected to speed efforts to target the Middle East arms market. According to the defense industry on Monday, L-SAM has entered the mass-production phase. Designed to intercept ballistic missiles in the upper atmosphere, L-SAM can engage targets at an interception altitude of 40 to 60 kilometers (25 to 37 miles), a capability that has led to comparisons with the U.S. THAAD system. Along with Cheongung-II, which covers altitudes of 30 to 40 kilometers (19 to 25 miles) and below, L-SAM is considered a core component of South Korea’s missile defense architecture. Deployment is approaching. The Defense Acquisition Program Administration last year reviewed and approved the final mass-production plan for L-SAM. The total project cost is about 1.7302 trillion won, with the goal of fielding the system with South Korean forces starting next year. LIG Nex1, Hanwha Aerospace and Hanwha Systems are participating in production. LIG Nex1 is responsible for overall system integration, Hanwha Aerospace for the launcher, and Hanwha Systems for the multifunction radar. Interest is also building overseas. With Cheongung-II deployed in the United Arab Emirates and credited with proving its performance, Middle Eastern countries have shown growing interest in L-SAM, the report said. In Europe, Switzerland has recently expressed interest. Swiss online outlet Watson reported Monday that South Korea’s L-SAM, under development, could play an important role in defending Swiss airspace. South Korea is also pursuing follow-on systems. Development is underway for L-SAM II, an upgraded version of the system now entering mass production. Work has also begun on Cheongung-III (M-SAM III), which aims to significantly improve interception altitude, detection range and simultaneous engagement capability compared with Cheongung-II. In the securities industry, analysts forecast LIG Nex1’s consensus operating profit this year at 435.2 billion won, up 34.8% from a year earlier. Operating profit is also expected to rise sharply at Hanwha Aerospace (43.1%) and Hanwha Systems (183.9%). Jang Won-jun a professor in the Department of Advanced Defense Industry Studies at Jeonbuk National University, said many countries built air defenses focused on mid- and low-altitude threats, making interest in an upper-tier interceptor like L-SAM likely to grow. "The Middle East and Europe are facing urgent conditions, so discussions on adoption could move faster there than in Korea," he said.* This article has been translated by AI. 2026-03-10 18:09:12
  • Bentley Unveils Bentayga Artenara Edition Luxury SUV
    Bentley Unveils Bentayga Artenara Edition Luxury SUV 벤틀리모터스는 10일 럭셔리 스포츠유틸리티차량(SUV) ‘벤테이가 아르테나라 에디션’을 공개했다. 이 모델은 스페인 그란 카나리아 섬의 ‘아르테나라’ 마을과 ‘로케 벤테이가’ 지형에서 영감을 받아, 이를 현대적 디자인 언어로 반영했다고 벤틀리는 밝혔다. 국내에 출시된 ‘아틀리에 에디션’의 컬러 큐레이션도 계승했다. 벤테이가 아르테나라 에디션에는 벤틀리 최상위 뮬리너 라인업에 적용되던 ‘더블 다이아몬드 그릴’이 기본으로 장착된다. ‘브라이트 크롬’ 외장 트림과 함께 블랙라인 사양도 제공되며, 블랙라인 선택 시 프론트 스키드 패널, 리어 디퓨저, 더블 다이아몬드 그릴 등이 적용된다. 외장 색상은 벨루가, 그래나이트, 페일 브로드가, 글레이셔 화이트 등 8가지로 구성된다. 22인치 뮬리너 휠이 기본이며, 23인치 ‘슈퍼 럭스’ 휠은 선택 사양이다. 파워트레인은 4.0L V8 트윈터보 엔진으로, 최고출력 550PS, 최대토크 78.5kg·m를 낸다. 48V 전자식 안티롤 컨트롤 시스템 ‘벤틀리 다이내믹 라이드’와 ‘올 휠 스티어링 시스템’도 적용됐다. 벤테이가 아르테나라 에디션은 벤테이가와 벤테이가 EWB 두 가지 라인업으로 선보이며, 국내에는 올해 4분기 공식 출시될 예정이다.* This article has been translated by AI. 2026-03-10 10:21:17
  • Hanon Systems targets No. 1 global thermal management by 2036
    Hanon Systems targets No. 1 global thermal management by 2036 Korea & Company Group said its automotive thermal energy management unit, Hanon Systems, has set out a growth vision ahead of its 40th anniversary on March 11. Hanon Systems said it aims to become the world’s No. 1 thermal management solutions company by 2036, when it marks its 50th anniversary. The company said it will accelerate expansion beyond its core automotive thermal management technology. It plans to broaden its portfolio by targeting infrastructure industries that need high-efficiency thermal management, including data center cooling systems, where demand has been rising. Hanon Systems currently supplies automotive thermal management solutions through 50 production plants worldwide and three R&D innovation centers. It is assessed as the world’s No. 2 manufacturer in automotive thermal management and one that offers a full lineup globally. The company said it plans to position itself not only as a partner to the auto industry but also as a key infrastructure partner across industries that require thermal management technology. It also plans to expand into adjacent growth areas, including the global aftermarket, to strengthen its mid- to long-term growth base. To mark its anniversary on March 11, Hanon Systems released the message “40 Years Forward.” The company said it reflects its intent to build new growth opportunities in future mobility and other industries that require thermal management, based on technology and innovation accumulated over the past 40 years. “This 40th anniversary will be more than a commemoration — it will be a new starting point to leap to the world’s No. 1 thermal management solutions company, grounded in execution and healthy fundamentals,” said Lee Soo-il, vice chairman and CEO of Hanon Systems.* This article has been translated by AI. 2026-03-10 09:52:29