Most Popular
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Yoon's approval rating plunges to all-time low
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S. Korea votes in favor of Palestinian bid for UN membership
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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Hyundai should boost EVs for China, analysts say
Korean automakers should push EV cars in China amid declining sales in the world’s largest car market, analysts said on Tuesday. The combined market share of Korean carmakers in China -- namely Hyundai Motor and Kia Motors -- declined to 7.3 percent in the first half of this year from 9 percent in 2014, while Chinese makers saw their share surge to more than 42 percent. Industry watchers said Korean automakers may further lose its share in the mid- to long-term in China if they fail to gain the
Aug. 9, 2016
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Korea begins development of test bed for self-driving cars
South Korea has launched its project to develop a new test bed for self-driving cars that will also include the development of new technologies to test autonomous cars, the government said Tuesday.The new test bed, called the K-city, will be built around the Korea Transportation Safety Authority's existing proving ground in Hwaseong, Gyeonggi Province, according to the Ministry of Land, Infrastructure and Transport.A ceremony marking the start of the 18.8 billion-won ($17 million) project was he
Aug. 9, 2016
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Car exports shrink for ninth consecutive month in July
South Korea's automobile exports retreated for nine months in a row in July due largely to contracted global demand and partial strikes in local carmakers, the government said Tuesday.Outbound shipments of vehicles came to 219,982 units last month, down 16.9 percent from 258,536 units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The July figure widened from a 13.9 percent on-year drop in June and a 12.4 percent fall in May. The figure was 19.7 percent in April,
Aug. 9, 2016
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Hyundai, Kia ranked in top tier in China's customer service index
South Korea's leading automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp.continued to receive high marks for their customer service in China this year, a survey showed Tuesday, while rapid advances by local competitors caused some concerns.In an annual survey conducted by U.S. marketing information service firm J.D. Power, Beijing Hyundai, a joint venture of Hyundai Motor, received the third highest mark of 786 points out of possible 1,000 for its customer services, down one n
Aug. 9, 2016
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Ticket Monster sells Jaguars on online mall
Ticket Monster, South Korea's major e-commerce site, said Monday it started sales of British luxury car brand Jaguar, marking the first time for new cars to be sold on a local online shopping mall. Ticket Monster put on sales of 20 Jaguar XE Portfolios and R-Sports on Monday morning, marking them down 7 million won ($6,317) from the regular retail prices to 48.1 million won and 46 million won, respectively. The two models were sold out in three hours, the company said. Ticket Monster said it cou
Aug. 9, 2016
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[Photo News] Graduation day
A senior education ministry official of the Malawian government presents a graduation certificate to a student who attended Green Light school operated by South Korean carmaker Kia Motors in Lilongwe, the capital of the southeastern African country, on Aug. 4. The graduation ceremony was held with Kia Motors officials attending during their week-long volunteer trip to the country last week. The carmaker operates Green Light projects to provide educational opportunities for children and their fam
Aug. 8, 2016
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Sales of OEM vehicles plunge in July
Vehicles produced in other countries and sold here by South Korea-based automakers dropped sharply from a year earlier last month amid advances by their local competitors, industry data showed Monday.In July, Renault Samsung Motors Co., the local unit of French automaker Renault S.A., sold 1,066 units of the QM3 crossover SUV, down 55.5 percent from the same month last year, according to the data.QM3 cars are imported to South Korea after being produced overseas through the so-called original eq
Aug. 8, 2016
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Volkswagen dealers bite the dust amid emission scandal
Inside a sprawling three-story Volkswagen showroom in the affluent Gangnam area of Seoul, just two cars - the CC 2.0 TSI and Touareg - were on display. These are the only two cars that were permitted to be sold here following a government sales ban and decertification move that affected a wide array of Volkswagen cars. Volkswagen showroom in Seoul. (Park Hyun-koo/The Investor)“We hardly have visitors these days,” one salesman at the dealership said, declining to be identified. “For now, these a
Aug. 7, 2016
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Hyundai‘s Tucson is best-selling new car in Germany
South Korean automaker Hyundai Motor’s compact SUV model, the Tucson, was the best-selling car among 20 new models released in Germany in the first half of this year, data showed Friday. According to the German Association of the Automotive Industry,13,454 Tucsons have been sold in Germany since its debut in January. The average monthly sales of the Tucson were 2,242 units over the period, far surpassing Ford‘s Mustang with 556 and Italian carmaker Fiat’s Tipo with 337, the association said. Amo
Aug. 5, 2016
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Hyundai chief calls for pioneering spirit
Hyundai Motor Group chairman Chung Mong-koo visited Kia Motors’ factory in Zilina, a city in northwestern Slovakia, during a visit to Europe, the company’s officials said Thursday. “Hyundai and Kia should overcome the uncertainty through global sales as we did grow by pioneering overseas markets,” Chung told employees at the factory.Hyundai Motor Group chairman Chung Mong-koo visits Kia Motors’ factory in Slovakia. (Hyundai Motor)The factory in Slovakia, which currently produces Kia Motor’s vehi
Aug. 4, 2016
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[News Analysis] Samsung seen sizing up smart car business
Samsung Electronics is a late starter in the already competitive smart car business, but recent moves suggest it is shifting its focus into the segment more quickly than expected.A Bloomberg report on Wednesday evening said that Samsung is in talks with Fiat Chrysler Automobiles to purchase its auto-parts affiliate Magneti Marelli. The deal could be closed this year at more than $3 billion, it said quoting one of the people familiar with the matter.Samsung immediately reacted by saying that it w
Aug. 4, 2016
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[Newsmaker] Tesla may have limited effect on Korean market
Despite anticipation that Tesla Motors might make inroads in South Korea this year, the American electric vehicle maker might fail to capture significant market share due to its high prices, industry watchers said Thursday. Tesla will reportedly open flagship stores in Korea, with one in shopping mall Starfield in Hanam, a southeastern satellite city of Seoul, and the other possibly in Gangnam, southern Seoul. “Tesla’s presence in Starfield Hanam is confirmed. It may open the store at the end of
Aug. 4, 2016
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Old diesel cars to be restricted in Seoul starting next year
South Korea's environment ministry and the Seoul city government signed an agreement Thursday to implement restrictions on old diesel cars that have often been cited for generating fine dust.Under the new regulations, cars that were registered before 2005 and do not have fine dust reduction devices attached will be prohibited from operating in Seoul starting next year if they do not go through a general inspection or have failed to obtain approval.Vehicles that are ordered to take measures to lo
Aug. 4, 2016
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Tesla Motor to open first dealership in Korea
Tesla Motors Inc., a U.S. electric vehicle producer, is set to open its first dealership in South Korea and possibly begin offering its globally famous electric car models to local customers before the end of the year, sources said Thursday.The U.S. automaker has agreed to open a shop in a new shopping mall in Hanam, just southeast of Seoul, which will open next month, according to officials from Shinsegae, a major retailer and owner of the new mall.Tesla and the South Korean retailer "have fina
Aug. 4, 2016
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[Photo News] Hyundai Motor chairman Chung calls workers patriots
Hyundai Motor Group chairman Chung Mong-koo (center) inspects the quality of the carmaker’s new compact sport utility vehicle Creta, during his visit to its factory in St. Petersburg, Russia, Wednesday. Chung encouraged the employees to persevere despite difficult market conditions, calling them “patriots.” (Hyundai Motor)
Aug. 3, 2016
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[Monitor] Imported car sales sink on Volkswagen scandal
Sales of imported cars in Korea dropped 2.6 percent on-year in the first half of this year mainly due to Volkswagen‘s emission-rigging scandal, industry data showed Wednesday. According to the Korea Automobile Importers and Distributors Association, a total of 116,800 foreign brand cars were sold during that period.
Aug. 3, 2016
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LG to bolster car parts business
LG Electronics will step up its efforts to strengthen its automobile component business, as General Motors’ new electric car Bolt is expected to go on sale later this year, a brokerage said in its report Wednesday.SK Securities said LG’s vehicle components division is expected to post 1.4 trillion won in the latter half of this year -- a more than 40 percent increase from the previous year. The division already fared well in the first half, by posting 1.2 trillion won ($1 billion) in sales, a 48
Aug. 3, 2016
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Hyundai chairman seeks Europe momentum amid low growth
Hyundai Motor Group chairman Chung Mong-koo left for Europe on Tuesday to oversee the Russian, Slovakian and Czech markets hit by the Brexit vote, the company’s official said. The chairman plans to visit the automaker’s factories in the three nations to monitor sales and market conditions. “We should make a breakthrough starting from the European market, which is expected to see record-breaking sales this year, amid slow growth in the global auto market,” Chung said in the company’s statement. “
Aug. 2, 2016
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Korea bans sales, nullifies certifications of Volkswagen vehicles
South Korea's government on Tuesday banned sales and revoked the certifications of 80 vehicle models of Audi Volkswagen Korea, which has been suspected of obtaining permission to sell cars here by fabricating reports.Under the administrative measure, the Ministry of Environment separately slapped the German automaker with fines of 17.8 billion won ($16 million) for 47 models that are thought to have passed the local authentication process by cheating on gas emissions tests. The punitive measure
Aug. 2, 2016
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Hyundai Motor sales slip 5.1% in July
Sales of South Korea's leading automaker Hyundai Motor Co. dropped from a year earlier in July due partly to a decline in output caused by a series of labor strikes that led to significant cuts in both domestic and overseas sales, the company said Monday.The automaker's overall sales came to 339,273 cars last month, down 5.1 percent from July 2015.Domestic sales plunged 20.1 percent on-year to 47,879 units.The sharp drop was also attributed to the termination of a temporary cut in excise tax for
Aug. 1, 2016