Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Today’s K-pop] BTS pop-up event to come to Seoul
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[Graphic News] More Koreans say they plan long-distance trips this year
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Yoon's approval rating plunges to all-time low
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Fed: Elevated inflation will likely delay rate cuts this year
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Kia’s China sales plummet 38.9% last month
The nation’s No. 2 carmaker Kia Motors saw its sales in China plummet 38.9 percent last month, according to company and industry sources on Sunday. Kia Motors said it sold 30,800 units to its Chinese factory in January, down 18,459 vehicles compared to the 49,259 units sold during the same month last year. Retail sales have also dropped 13.1 percent. According to news reports, a number of industry insiders suspect the slump in sales is linked to Chinese dealers demanding Kia compensate them fo
Feb. 5, 2017
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Imported truck sales hit record 75.8% jump last year
Imported trucks celebrated a record year last year, seeing a 75.8 percent spike in sales from 2015, according the Korea Automobile Manufacturers Association. Non-domestic truck sales stood a 7,726 units in 2016 compared to the previous year’s 4,396 units, KAMA’s data showed Sunday. Following the enactment of the Korea-EU and Korea-US free trade agreements in 2011 and 2012, respectively, tariffs on imported vehicles have been removed, sparking an increase in competition and demand in the domest
Feb. 5, 2017
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Kia Motors suffers 38.9% plunge in January sales in China
Kia Motors Corp., South Korea's second-largest carmaker, saw its sales in China last month plunge 38.9 percent on month, amid a dispute with some of its Chinese dealers over inventory, according to company and industry sources on Sunday. Kia's sales fell to 30,080 units in January in China, from 49,259 units in December last year. This photo shows Kia Motors Corp.'s KX7 sport-utility vehicle. (Kia Motors)Industry sources suggested that Kia may seek to reduce its unsold cars before it begins sel
Feb. 5, 2017
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Ministry recalls 19 international car models
A total of 5,204 vehicles across 19 different non-domestic car models are being recalled by local distributors of brands including Honda, Nissan, Land Rover and Maserati, the Ministry of Land, Infrastructure and Transport said Thursday.Japanese automakers Honda and Nissan will be initiating a combined recall of 3,565 vehicles from four different models. (Yonhap)Honda Korea will recall 1,407 Accords that are equipped with Takata air bags, which have led to fatal accidents in other countries beca
Feb. 2, 2017
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Mercedes-Benz takes students to German headquarters
Select students of Mercedes-Benz’s Mobile Academy visit the Mercedes-Benz headquarters in Stuttgart, Germany. (Mercedes-Benz Korea)Select students from the annual Mercedes-Benz Mobile Academy won the opportunity to visit the luxury auto giant’s headquarters in Stuttgart, Germany, the company said Tuesday. The Mobile Academy is an industry-academy joint project run by the carmaker, aimed to nurture and develop students looking to pursue a career in the automotive industry. Fifteen students were
Feb. 1, 2017
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Hyundai Motor's downturn takes toll on suppliers
Hyundai Motor Group headquarters in Seocho, southern Seoul (Yonhap)A six-year low operating profit posted by Hyundai Motor in 2016 had a negative domino effect on the overall performance of related affiliates dependent on South Korea’s largest auto firm, company data showed Tuesday. The suppliers’ heavy reliance on Hyundai Motor had exposed them to greater risk of being affected by the auto firm’s disappointing yearly outcome, industry experts said.Hyundai Motor posted an operating profit of 5.1
Jan. 31, 2017
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Domestic car production reaches 6-year low, overseas numbers rise
Domestic automobile production saw a 7.2 percent decrease last year compared to 2015, marking the lowest production rate for local automakers in six years, according to the Korea Automobile Manufacturers Association. Seven domestic automakers -- Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Daewoo Bus and Tata Daewoo -- manufactured a combined total of roughly 4.23 million units in Korea last year, down 330,000 vehicles. The decline in domestic production is wide
Jan. 31, 2017
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Car keys are getting smarter
It has been roughly a decade since smart keys first appeared in Korea, allowing drivers to lock and unlock their car door via the press of a button. However, with the advent of smart technology, industry insiders are expecting car keys to make even more significantly high-tech strides by 2020. Korea’s largest automaker Hyundai Motor Co. revealed late last month that it is currently developing a wrist-band-type smart key for the first time in the local automotive industry. The smart device is e
Jan. 30, 2017
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Hyundai Motor’s profit lowest in 7 years
Hyundai Motor, the nation’s biggest carmaker, posted an operating profit of 5.19 trillion won ($4.45 billion) last year, the lowest since 2010 when the carmaker started to comply with international financial reporting standards.The carmaker, in a regulatory filing Wednesday, also posted a net profit of 5.76 trillion won, a 12.1 percent decrease from 6.51 trillion won in the previous year. (Yonhap)For the entire year, Hyundai’s sales grew 1.8 percent on-year to 93.65 trillion won, selling a total
Jan. 25, 2017
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Volvo’s new leasing offer looks to make S90 ‘affordable’
Volvo Korea has launched the new D4 model of its flagship S90 series, the company said Wednesday, touting the vehicle as one of the country’s most reasonably priced and affordable luxury sedans. Offered in both “Momentum” entry-level and “Inscription” trim, the 2017 D4 is priced at 59.9 million won ($51,400) and 66.9 million won, respectively, including taxes. In comparison, in Korea the Mercedes E-Class series runs anywhere from 60.9 million won to 98.7 million won, while Ford’s newly release
Jan. 25, 2017
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Automakers to offer free inspection services for Lunar New Year
The Korea Automobile Manufacturers Association announced Tuesday that it will offer free inspection services by five automakers during the Lunar New Year holiday this weekend. From Thursday to Sunday, Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motors will offer their customers vehicle inspection services free of charge at 22 participating highway rest stops and 48 service centers nationwide. The services will be offered at northbound rest stops on Thursday and Fri
Jan. 24, 2017
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Honda Korea releases new, smarter Pilot SUV
Honda Korea has launched sales of its latest SUV model, the New Pilot 2017, less than a week after unveiling its new Accord Hybrid, the company announced Monday. “There continues to be growing interest … in the Pilot series because of its design, safety and space utilization, especially in a consumer culture of meticulous comparison that focuses on safety and fuel efficiency,” said Honda Korea CEO Chung Woo-young, in the company’s press release Monday.Honda Korea releases its “New Pilot 2017”
Jan. 24, 2017
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Hyundai Motor develops heat resistant catalyst
Hyundai, Kia Motors researchers examine the catalyst used in a device that reduces gas emissions. (Hyundai, Kia Motors)Hyundai and Kia Motors, South Korea’s two biggest auto manufacturers, succeeded in developing a catalyst that can withstand heat of up to 900 degrees Celsius, the firm said Monday. “The latest research is meaningful in that we can now spearhead the transformation of the internal combustion engine to an eco-friendly one with self-developed air purification technology,” a company
Jan. 23, 2017
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Smarter and safer: all-new BMW 5 Series to hit Korean market in February
The seventh-generation all-new 5 Series sedan is set to be launched next month. (BMW Korea)German premium brand BMW is ready to roll out here next month its latest model, the new BMW 5 Series sedan equipped with a slew of high-tech features, the carmaker’s Seoul unit said Sunday.The seventh-generation all-new 5 Series is a redesigned version of the premium business sedan BMW 5 Series, which has sold over 7.6 million units worldwide since its first release in 1972, BMW Korea said.One distinct fea
Jan. 22, 2017
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Hyundai’s Chung Eui-sun attends World Economic Forum
Hyundai Motor Company Vice Chairman Chung Eui-sun attended this year’s 2017 World Economic Forum, held in Davos, Switzerland from Jan. 17 to 20. Chung joined in on key sessions with the forum’s automotive committee, sharing his analysis of some of the industry’s top trends, including eco-friendly cars and autonomous vehicles, according to a press statement released by Hyundai on Thursday. The vice chairman reportedly met privately with CEOs of major global automakers, gauging future automotive
Jan. 19, 2017
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VW prepares for next recall, apologizes to Korean consumers
Following Volkswagen’s emissions scandal in Korea that resulted in an order to recall 27,000 Tiguan SUVs starting next month, the Ministry of Environment announced Thursday that VW’s next recall plan involves roughly 15,000 CC mid-size sedans. According to the ministry, the German carmaker is currently negotiating the terms of the recall. The measure is expected to be approved by the ministry sometime in the middle of next month. Approximately 126,000 VW vehicles in Korea are expected to be re
Jan. 19, 2017
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Renault Samsung Motors sets target sales at 270,000 units
Park Dong-hoon, a CEO of Renault Samsung Motors, speaks at a new year‘s media conference held at the Westin Chosun Hotel in central Seoul, Wednesday. (Renault Samsung Motors)Park Dong-hoon, the CEO of Renault Samsung Motors, announced Wednesday the firm’s goal for 2017 to sell 270,000 units on its continued sales momentum of the SM6 sedan, QM6 SUV and two new models set for launch this year.“We have two new models scheduled for launch this year, the Clio and the Twizzy. We hope to suggest a new
Jan. 18, 2017
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Honda joins Korea’s growing eco-car market
Honda Motor Company has unveiled the latest model to hit Korea’s burgeoning green car market -- the new Accord Hybrid. The major Japanese automaker released its popular Accord series for the first time in Korea on Wednesday, looking to increase its presence in the competitive local market with its latest eco-friendly sedan. “Last year Honda Korea sold 6,636 vehicles in the Korean market,” said Jung Woo-young, CEO of Honda Korea, at a press conference held at the Grand Hyatt hotel in Seoul on W
Jan. 18, 2017
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Kia Motors launches new compact car
Kia Motors, South Korea’s second-largest auto manufacturer, launched the third-generation Smart Compact All New Morning at a media showcase Tuesday. Kia Motors President Park Han-woo (right) and Executive Vice President Kim Chang-sik pose at the launch of the Smart Compact All New Morning at Dongdaemun Design Plaza, central Seoul, Tuesday. (Kia Motors)According to Kia Motors, it developed the latest model with the aim of producing a compact car that has enhanced safety with a stronger body struc
Jan. 17, 2017
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US authorities warn Hyundai, Kia Motors over worker safety
The US labor authorities have voiced concerns over excessive production demands made by South Korea’s biggest automaker Hyundai and its affiliate Kia Motors to their subcontractors at the expense of employee safety.The Occupational Safety and Health Administration of the US Labor Ministry recently stated that the safety issues at Ajin USA, a subcontractor of Hyundai and Kia Motors, are not exclusive to Ajin, according to news reports here Monday.The Ajin USA plant in Alabama supplies stamp metal
Jan. 16, 2017