Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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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
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Ssangyong Motor returns to profit on Tivoli sales
[THE INVESTOR] Ssangyong Motor , owned by India’s auto giant Mahindra & Mahindra, bounced back into profit in the first half of the year for the first time in nine years, thanks to the popularity of its Tivoli sport utility vehicle. The automaker posted operating profit of 27.4 billion won (US$24.40 million) in the first half of the year, reversing a nine consecutive loss-making years since 2007, the company said in a regulatory filing on July 29. Sales stood at 1.77 trillion won, while net prof
Aug. 1, 2016
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Ssangyong Motor sales up 8.2% on-year in July
Ssangyong Motor Co., the local unit of Indian auto giant Mahindra & Mahindra Ltd., on Monday said its sales grew 8.2 percent from a year earlier in July, with a surge in exports more than offsetting a drop in domestic sales.The automaker sold 12,784 cars globally last month, compared with 11,813 vehicles sold in the same month last year.Domestic sales slipped 8.1 percent on-year to 7,546, which also marked a 22.6 percent plunge from the previous month.Exports, on the other hand, spiked 45.3 perc
Aug. 1, 2016
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Hyundai Motor encourages domestic vacations
South Korea’s largest automaker Hyundai Motor has advised its employees to take vacation in the nation to boost domestic tourism, the company said Sunday. “We have prepared diverse programs to support vacations for the employees of the group and partner companies, as well as clients,” the company’s spokesperson said in a statement, adding, “We hope the programs will boost domestic tourism and consumption.”(123rf)The automaker said it plans to run resorts nationwide for around 150,000 employees t
July 31, 2016
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Hyundai Motor Group ranks No. 1 in percentage of vehicles made in home country
South Korea's Hyundai Motor Group topped global rivals in terms of vehicles produced in its home country last year, with nearly 45 percent of all cars produced locally, a carmakers' business lobby said Sunday. The combined ratio of domestic output at Hyundai Motor Co. and its sister company Kia Motors Corp. marked the highest of 44.8 percent among the world's top five carmakers by sales, according to data from the Korea Automobile Manufacturers Association. Hyundai Motor and its 34 percent-owned
July 31, 2016
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Sales of imported company cars fall on tough tax laws
[THE INVESTOR] Sales of imported company cars in Korea fell in the first half of the year on toughened tax laws, industry data showed on July 29.In the January-June period, sales declined 15.8 percent from the same period in 2015, according to the Korea Automobile Importers and Distributors Association. In total, 40,698 units of company cars were sold to account for 34.9 percent of the nation’s imported car sales. The BMW 520d is cited as one of Korea’s most widely used company cars.The declin
July 29, 2016
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Hyundai to release new hydrogen-powered car in 2018
Hyundai Motor Co., South Korea's largest automaker, on Friday said it plans to release its new hydrogen-powered cars in 2018.The second-generation hydrogen fuel cell cars are set to debut in February 2018, when South Korea's alpine city of PyeongChang hosts the Winter Olympics, the carmaker said.The move is aimed at, among other things, promoting Hyundai's technological prowess to foreign reporters, who will visit South Korea to cover the Winter Olympics.Still, the carmaker declined to elaborate
July 29, 2016
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Hyundai to unveil new fuel-cell Tucson in 2018
[THE INVESTOR] Hyundai Motor is planning to roll out the second-generation fuel-cell version of its Tucson ix sport utility vehicle in 2018, just in time for the PyeongChang Winter Olympics taking place in South Korea, local news reported on July 29. Hyundai Motor's fuel-cell Tucson ix, the first mass-produced fuel cell vehicle in the world.Since 2013, South Korea’s largest automaker has been producing the first fuel cell version of its Tucson sport utility vehicle, known as Tucson FCEV -- which
July 29, 2016
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Hyundai Mobis to invest W643b in Hyundai Motor’s new HQ
[THE INVESTOR] Hyundai Mobis, the auto parts unit of Hyundai Motor Group, will invest 643 billion won (US$571.53 million) to build the auto conglomerate’s new headquarters -- Hyundai Global Business Center -- in Southern Seoul, the company said in a regulatory filing on July 28. Hyundai Global Business Center to be built in Samseong-dong, Seoul. Hyundai Motor GroupHyundai Motor Group is planning to erect a 105-story skyscraper in Samseong-dong area of Seoul, on a plot purchased from state-run K
July 28, 2016
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Hyundai Mobis Q2 profit jumps 13% on SUV sales
[THE INVESTOR] Hyundai Mobis on July 28 said that it posted a 13 percent increase in second-quarter operating profit from a year earlier, thanks to favorable currency rates and improved supply to sport utility vehicles. South Korea’s largest automotive parts supplier affiliated with Hyundai Motor Group reported the April-June operating profit of 784.7 billion won (US$696.2 million), compared with the 694.4 billion won from the same period last year. Hyundai Mobis’ Mabuk technical center in Yongi
July 28, 2016
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Hyundai Motor slips in US ranking
[THE INVESTOR] South Korea’s largest automaker Hyundai Motor slipped down in the US ranking of cars that measures the overall satisfaction of owning and driving cars. Hyundai Motor ranked ninth, down from second last year, among non-premium brands on the J.D. Power’s Automotive Performance, Execution and Layout Study, released on July 27. The result is based on responses from more than 80,000 purchaser and lessees of new vehicles who assessed the performance and design after 90 days of ownership
July 28, 2016