Journalist

Kim Pil-soo
  • KakaoBank’s One-Month Savings Tops 14 Million Accounts in 2 Years, 5 Months
    KakaoBank’s One-Month Savings Tops 14 Million Accounts in 2 Years, 5 Months KakaoBank said Tuesday that its “One-Month Savings” product has surpassed 14 million cumulative accounts in the 2 years and 5 months since its launch. Introduced in October 2023, the short-term installment savings product is designed to help customers build a saving habit by setting aside small daily amounts ranging from 100 won to 30,000 won. With a 31-day maturity, it is easier to keep through to the end. Each deposit also triggers an on-screen animation of the bank’s “Chunsik” character climbing a 31-story building, adding a playful element. KakaoBank said the product reached 5 million accounts about seven months after launch, 10 million in 1 year and 5 months, and exceeded 14 million earlier this month. The customer base has broadened. While the product initially drew a higher share of customers in their 30s and younger, customers in their 40s now account for 31% and those 50 and older for 32%, or 63% combined. Women made up 72% of customers, the bank said. KakaoBank has also offered the product as a “partner savings” program tied to companies including Samsung Electronics, LG Electronics, Hana Securities, Baskin-Robbins and Gmarket, providing additional benefits to customers. KakaoBank said the product’s reputation as “easy and 부담 없는” — simple and not burdensome — along with its fun features helped it reach 14 million accounts quickly. The bank said it will continue working to provide greater benefits and convenience through differentiated products and services.* This article has been translated by AI. 2026-03-10 09:24:00
  • Toss Operator Viva Republica Weighs Korea Listing Alongside U.S. IPO Plans
    Toss Operator Viva Republica Weighs Korea Listing Alongside U.S. IPO Plans Viva Republica, the operator of the Toss financial platform, is reviewing a potential listing on South Korea’s stock market, industry sources said. According to the industry on the 5th, the company recently asked the Financial Supervisory Service for guidelines on preparing for a domestic listing, including how to apply for and be assigned a designated external auditor. Applying for a designated auditor refers to the process by which a company preparing to list undergoes a pre-IPO audit by an accounting firm appointed by financial authorities. A Viva Republica official said the company is "reviewing various scenarios for a successful listing." Viva Republica is also known to be preparing for a U.S. stock market listing. The company has begun preliminary consultations with the U.S. Securities and Exchange Commission for a local listing, and some observers say it could complete an initial public offering as early as this year.* This article has been translated by AI. 2026-03-05 18:03:00
  • KAI committee recommends Kim Jong-chul as inside director candidate for CEO selection
    KAI committee recommends Kim Jong-chul as inside director candidate for CEO selection Korea Aerospace Industries (KAI) said its director candidate recommendation committee on Thursday recommended Kim Jong-chul, former director general of the Defense Technology Protection Bureau at the Defense Acquisition Program Administration, as an inside director candidate as part of the process to select a new CEO. KAI held an extraordinary board meeting the same day and approved an agenda item to appoint a director for submission to a shareholders meeting. The company plans to put the item to an extraordinary shareholders meeting on March 18 and then make a final decision on the CEO appointment at a board meeting. KAI said Kim, a founding member of DAPA, is regarded as an export specialist who understands the defense industry market, having served as head of the defense export support team and as director of the offset trade division. He also held key posts including creative innovation officer, deputy head of the strategic planning group and planning and coordination officer, and is seen as having a strong grasp of defense and aviation industry policy and strategy, the company said. It added that his expertise in future businesses and advanced technologies, built during his tenure as head of the unmanned business division and as director general of the Defense Technology Protection Bureau, is considered essential to KAI’s global expansion. The committee said Kim is “a suitable candidate equipped with outstanding expertise across the defense industry and insight into future businesses,” adding it expects him to play a key role in helping KAI grow into a global aerospace company based on his export network and strategic planning capabilities.* This article has been translated by AI. 2026-02-27 18:15:20
  • Korea Low-Cost Airlines Post Losses as Weak Won and High Fuel Costs Bite
    Korea Low-Cost Airlines Post Losses as Weak Won and High Fuel Costs Bite Despite a rebound in passenger demand, South Korea’s low-cost carriers posted a string of losses as a weak won and high oil prices drove up costs, the industry said. Intensifying competition — often described as a “chicken game” — further squeezed margins. Carriers say they will prioritize tighter, efficiency-focused management this year to improve profitability. According to the industry on Feb. 27, T'way Air posted 1.7981 trillion won ($) in revenue last year and an operating loss of 265.4 billion won. Revenue rose 17% from a year earlier to a record high, but the operating loss more than doubled. Other listed low-cost carriers also reported weak results. Jeju Air, the sector leader, was the only listed carrier to post an operating profit in the fourth quarter, but it still recorded an annual operating loss of 110.9 billion won, swinging to a loss. Jin Air and Air Busan also turned to losses, posting operating losses of 16.2 billion won and 4.5 billion won, respectively. The main drivers were the strong dollar and high oil prices. With aircraft lease payments, fuel and maintenance largely settled in U.S. dollars, a higher won-dollar exchange rate directly increases costs. Fuel expenses also rose as global oil-price volatility persisted. T'way Air said profitability deteriorated due to higher investment costs tied to introducing larger aircraft, rising costs from the exchange rate and oil prices, and tougher competition as capacity increased. Competition has also weighed on earnings. As carriers rapidly expanded capacity on routes to Japan and Southeast Asia, fare increases have been limited while price competition to attract passengers has dragged on. A Jin Air official said stagnant domestic travel demand, the weak won and increased LCC supply also hurt profitability. Carriers outlined plans centered on financial discipline. Jeju Air said it will avoid a major expansion in scale while introducing seven next-generation aircraft and reducing older planes, and will manage liquidity and financial ratios through asset sales. Jin Air said it will maximize earnings by adjusting capacity based on route-by-route demand and profitability analysis, while strengthening cost competitiveness through steps including introducing more fuel-efficient aircraft. Air Busan said it will focus on a flexible route strategy and more efficient fleet operations to support a mid- to long-term recovery and competitiveness. T'way Air said it plans to create a turning point through new aircraft, expanded passenger and cargo supply, stabilizing mid- and long-haul routes, and adding new routes from regional airports. An industry official said the number of people entering and leaving South Korea hit a record high last year, but LCC earnings and financial conditions were significantly damaged. If the current operating environment persists, the official said, some carriers could face restructuring. The official added that in 2027, the Korean Air-Asiana Airlines merger and the integration of three LCCs — Jin Air, Air Busan and Air Seoul — could ease oversupply to some extent.* This article has been translated by AI. 2026-02-27 18:03:00
  • Hyundai Motor Group Launches 13th Hyundai Jump School Volunteer Program
    Hyundai Motor Group Launches 13th Hyundai Jump School Volunteer Program Hyundai Motor Group said it held a launch ceremony for the 13th class of its social contribution program, Hyundai Jump School, over two days starting Feb. 26 at the Mayfield Hotel in Seoul. Started in 2013, Hyundai Jump School pairs university student teachers with youths from underserved communities for tutoring and emotional support. Employee mentors help the student teachers with career planning, the group said. The event included lectures on teaching methods for working with adolescents and sessions where experienced participants shared practical tips. The group said 25 newly selected dedicated employee mentors also took part in team-building activities with the student teachers. The dedicated mentors will be assigned by operating region and plan to provide longer-term, in-depth guidance through in-person exchanges, including visits to child centers where volunteering takes place, tours of Hyundai Motor Group offices and career advice, it said. After the ceremony, 300 university student teachers will volunteer through December for 10 months at child centers and other sites in nine regions nationwide, providing educational support to about 1,200 youths. Hyundai Motor Group said it extended the program from eight months to 10 to better align with school schedules, expecting improved continuity and effectiveness. All student teachers will receive scholarships, and those selected as outstanding teachers will be offered overseas study trips, the group said. Hyundai Jump School has also operated in Vietnam since 2020 and in Indonesia since 2024. Over 13 years, about 3,600 university student teachers have been selected, and about 14,000 youths with limited access to education have received learning opportunities, the group said. “Hyundai Jump School is a talent development program where everyone involved — youths, university students and employee mentors — learns and grows,” a Hyundai Motor Group official said. “We plan to continue efforts to foster healthy future talent.”* This article has been translated by AI. 2026-02-27 13:42:19
  • Hyundai Motor Group to Invest 9 Trillion Won in Saemangeum Robotics, AI and Hydrogen Hub
    Hyundai Motor Group to Invest 9 Trillion Won in Saemangeum Robotics, AI and Hydrogen Hub Hyundai Motor Group is moving ahead with plans to build a domestic innovation hub as it seeks to become a future-technology company centered on robotics, artificial intelligence and energy solutions. The group said it signed an investment memorandum of understanding on the 27th with the government and North Jeolla Province at the Saemangeum Convention Center in Gunsan for fostering advanced robotics and hydrogen industries and developing an AI hydrogen city in the Saemangeum area. Hyundai plans to invest 9 trillion won starting in 2026 on a 1,124,000-square-meter (about 340,000-pyeong) site in Saemangeum, focusing on robotics, AI, hydrogen energy, solar power generation and an AI hydrogen city. The group said the project is aimed at securing future growth engines while contributing to regional balance, job creation and broader economic vitality through innovation in robotics and AI and a major shift in the hydrogen ecosystem. Saemangeum is expanding regional transportation links, including rail, port and airport infrastructure, and can accommodate large-scale development demand with 409 square kilometers (about 120 million pyeong) of land, about two-thirds the size of Seoul, the group said. Hyundai signed a separate MOU in May last year with the Saemangeum Development and Investment Agency on introducing future mobility technologies and building an AI-based smart city. In October that year, the agency joined a hydrogen session at the APEC CEO Summit 2025 hosted by Hyundai to explore ways to deepen cooperation. Attendees at the ceremony included President Lee Jae-myung; Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon; Industry Minister Kim Jung-kwan; Climate, Energy and Environment Minister Kim Sung-hwan; Land, Infrastructure and Transport Minister Kim Yoon-deok; Saemangeum Development and Investment Agency chief Kim Eui-kyeom; and North Jeolla Gov. Kim Kwan-young, along with lawmakers Han Byung-do, Chung Dong-young, Cho Bae-sook, Lee Choon-seok, Ahn Ho-young, Yoon Jun-byeong, Lee Won-taek and Park Hee-seung. Hyundai participants included Executive Chair Chung Euisun, Vice Chair Jang Jae-hoon, and senior executives Seo Kang-hyun, Sung Kim, Jung Jun-cheol and Jin Eun-sook, the group said. Kim Eui-kyeom, head of the Saemangeum Development and Investment Agency, said Saemangeum has abundant energy resources and differentiated investment incentives. He said the agency would use a large, regulation-free site to develop Saemangeum into an innovation growth base where people, robots and AI coexist. Jang said the next-generation industrial paradigm beginning in Saemangeum would become a central pillar of a major transformation shaping South Korea’s future beyond North Jeolla. He said Hyundai is ready to help build an advanced industrial ecosystem, citing its manufacturing expertise and capabilities in robotics, AI and hydrogen energy. Under the MOU, the government and North Jeolla Province will support administrative procedures such as permits, as well as policies and infrastructure to develop robotics, AI and hydrogen energy industries. The parties will also build a cooperation network to ensure smooth project implementation, Hyundai said. Hyundai said the Saemangeum investment will focus on building an advanced value chain centered on an AI data center (5.8 trillion won), a robot manufacturing and parts cluster (400 billion won), a water electrolysis plant (1 trillion won), solar power generation (1.3 trillion won) and an AI hydrogen city (400 billion won). The AI data center and solar facilities are scheduled to break ground in 2027 and be completed in 2029, Hyundai said. The water electrolysis plant, also set to start construction in 2027, is to complete its first phase in 2029 and then expand capacity in stages. The robot manufacturing and parts cluster is to begin construction in 2028 and finish in 2029. Hyundai said it will also pursue discussions involving the Korea Development Bank and the National Growth Fund. Hyundai said the Saemangeum project is a core initiative within its previously announced 125.2 trillion won mid- to long-term domestic investment plan. The group said the investment is expected to drive innovation in robotics and AI and accelerate a shift in the hydrogen energy ecosystem, while producing immediate and tangible economic results through new jobs and stronger regional development. Based on input-output tables from the Bank of Korea and other sources, the project’s economic impact is estimated at 16 trillion won, with an analysis projecting about 71,000 jobs created directly and indirectly, Hyundai said. A Hyundai official said the group will draw on its world-class manufacturing and innovation capabilities to help South Korea secure leadership in future industries.* This article has been translated by AI. 2026-02-27 11:42:19
  • KGM Holds Dealer Conference in Germany, Previews Musso Pickup Ahead of Europe Launch
    KGM Holds Dealer Conference in Germany, Previews Musso Pickup Ahead of Europe Launch KG Mobility (KGM) said it held a large-scale dealer conference on Feb. 26 (local time) in Bruehl, a city in northern North Rhine-Westphalia (NRW), Germany’s biggest economic region. About 220 people, including local dealers and reporters, attended. KGM said the event was designed to brief dealers and the media on its brand and marketing strategy for this year, export plans, mid- to long-term product lineup direction and new models. Ahead of its planned launch in Europe, KGM gave dealers an early look at the Musso, which the company said has been well received since its domestic debut in January, to gauge market reaction and build expectations. KGM also displayed existing models such as the Musso EV and Torres EVX, along with tuned versions by trim, including taxi and camper variants, off-road vehicles and fire trucks. Dealers and reporters showed strong interest in the Musso’s styling and multipurpose use, as well as tuned models including a Torres EVX taxi and a Musso EV camper, KGM said. Alongside the conference, KGM said it recognized and awarded top-performing dealers in the German market for last year. Western Europe is KGM’s largest export region, with 22,496 vehicles shipped there last year, accounting for 32% of total exports. Germany ranked as KGM’s third-largest export market with 6,213 vehicles, behind Turkiye (13,337) and Hungary (9,508). A KGM official said exports topped 70,000 vehicles last year, the company’s best performance in 11 years. The official said KGM plans to strengthen its push in Germany and Europe through new-product launches and marketing strategies, citing strong interest from dealers and reporters in the Musso and the tuned lineup. * This article has been translated by AI. 2026-02-27 11:24:18
  • Volkswagen Group Korea Names Michael Ant as Head of Volkswagen Brand Unit
    Volkswagen Group Korea Names Michael Ant as Head of Volkswagen Brand Unit Volkswagen Group Korea said Thursday it will appoint Michael Ant as president of its Volkswagen brand unit, effective April 1. Till Scheer, president and CEO of Volkswagen Group Korea, has overseen the Volkswagen brand in addition to his broader duties since February 2024, working to strengthen core business capabilities and improve organizational efficiency, the company said. Building on that foundation, Ant will take overall responsibility for Volkswagen brand operations, maintaining continuity in strategic direction while focusing on strengthening brand execution. Under the group’s operating structure in South Korea, he will report directly to Scheer. Ant joined the Volkswagen Group in 1998 and has held key posts in major markets including Germany and China, working across brands such as Volkswagen, Skoda and Audi. The company said his broad experience is expected to support the Volkswagen brand’s growth in the South Korean market. Volkswagen Group Korea said the appointment reflects its continued commitment to the South Korean market and its intent to boost operating efficiency and competitiveness through closer cooperation among its brands.* This article has been translated by AI. 2026-02-27 10:48:17
  • Hansung Motor Expands Gangneung Service Center, Doubling Annual Repair Capacity
    Hansung Motor Expands Gangneung Service Center, Doubling Annual Repair Capacity Hansung Motor said Thursday it has expanded its Gangneung service center to strengthen service capacity in the region. The company said the expansion is aimed at improving access to maintenance and shortening reservation wait times by upgrading service infrastructure. The Gangneung center increased its general maintenance work bays to six. With the expansion, the center's annual repair capacity will double to as many as 10,000 vehicles, the company said, helping it more steadily meet demand for routine maintenance in the Yeongdong area of Gangwon Province. Hansung Motor said it expects significantly shorter waits for regular inspections and general repairs for customers in Gangneung and along the East Coast, while easing the burden of traveling long distances to service centers in other areas. The company cited a recent integrated expansion of its Seongdong service center as part of efforts to improve efficiency and expertise at key hubs in the Seoul metropolitan area. It said it is also investing in regional locations, including building new service centers, expanding existing sites and adding specialized staff nationwide. CEO Kim Marco said, "Investment in service centers leads directly to customer satisfaction," adding, "We will continue to work to provide more stable and convenient maintenance services by closely reflecting service demand by region."* This article has been translated by AI. 2026-02-27 10:24:06
  • Peugeot All-New 3008 Smart Hybrid wins two Korea Car of the Year design awards
    Peugeot All-New 3008 Smart Hybrid wins two Korea Car of the Year design awards Peugeot said on the 27th that its All-New 3008 Smart Hybrid won the “Design of the Year” award in two separate “2026 Korea Car of the Year” evaluations run by the Korea Automobile Writers Association (AWAK) and the Korea Automobile Journalists Association (KAJA). Both groups annually assess newly launched vehicles in South Korea and select winners by category. Peugeot said the results formally recognized the model’s design strengths as well as the brand’s credibility and product competitiveness in the local market. AWAK conducted on-road testing of 41 vehicles in January at Everland Speedway in Yongin, Gyeonggi Province, then finalized winners after scoring 22 detailed items including design, performance, convenience and safety, efficiency and innovation. The 3008 was named “Design of the Year” after receiving 50% of the vote in the design category. Peugeot’s 308 Smart Hybrid, which the company said signaled the start of smart hybrids in South Korea, also won “Internal Combustion Crossover of the Year,” highlighting the competitiveness of Peugeot’s smart-hybrid lineup. KAJA held its final judging on Feb. 5 at the Korea Transportation Safety Authority’s Korea Automobile Testing & Research Institute (KATRI) in Hwaseong, Gyeonggi Province. It said it weighed overall product value and consumer purchase intent using 10 indicators, including exterior design, interior and perceived quality, instrument layout and ease of operation, handling and driving feel, acceleration, noise and vibration performance, high-speed stability and braking, safety and convenience features, fuel economy and maintenance, and price and purchase intent. In KAJA’s “Design of the Year” category, where seven models competed, the All-New 3008 Smart Hybrid received the highest evaluation. The association cited a fastback profile that modernizes Peugeot’s signature “feline look,” a forward-looking “Panoramic i-Cockpit,” and what it called reasonable price competitiveness, describing the vehicle as a key model for the brand’s next step forward. “Peugeot’s 3008 sweeping the design category at both major journalist associations means the strength of Peugeot design has been clearly recognized by Korean customers and the market,” Bangsil, CEO of Stellantis Korea, said. “Building on our strong design DNA, Peugeot will establish itself as a brand that delivers an experience beyond expectations by adding product appeal — including smart-hybrid technology — and price competitiveness,” Bangsil said.* This article has been translated by AI. 2026-02-27 10:13:46