Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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US 'incredibly concerned' about suspected NK-Iran military ties
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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[Kim Seong-kon] Democracy and the future of South Korea
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Yoon's office denies considering liberal figures for key posts
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Why is Apple Pay struggling to get purchase in Korea?
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Seoul says Fu Bao loan 'not going to happen'
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Volkswagen face another suit from gasoline model owners over emissions
More than two dozen owners of one of Volkswagen's gasoline-powered vehicles filed a suit against the German carmaker and its local unit Monday over its manipulation of emissions tests, a lawyer said.Jason Ha, who represents 26 owners of the Golf 1.4 TSI at Barun Law, said he filed the suit, demanding the German carmaker and its local unit refund the cost of their cars. (Yonhap)The latest legal action came three days after prosecutors arrested an executive of Audi Volkswagen Korea for installing
June 27, 2016
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Hyundai, Kia eye green car expansion abroad
[THE INVESTOR] South Korea’s major automakers are seeking to expand their eco-friendly vehicles to other countries around the world this year, local news reported on June 26. Hyundai Motor plans to sell Ioniq Hybrid in the US and European markets in the second half of this year. Hyundai’s latest green car boasts a fuel efficiency of 22.4 km per liter, which is likely to compete with Toyota Prius, the market leader of hybrid vehicles. Ioniq Electric, the automaker’s first electric vehicle in the
June 27, 2016
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Mercedes Benz to roll out 4 luxury cars
Mercedes Benz said Sunday it was set to roll out four luxury models later this year, after garnering attention at the Busan Motor Show earlier in the month.“We plan to unveil the full lineup of dynamic, young roadsters and modern, luxury Cabriolets in the second half of this year, with an aim of meeting high-end consumers’ needs,” said an official at Mercedes Benz Korea. The new S-Class Cabriolet, the first convertible variant of the Mercedes-Benz luxury flagship, will enter the Korean market al
June 26, 2016
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New Audi A4: lighter but futuristic
The Audi A4, one of the German carmaker’s best-selling sedans, has made a big return. Keeping its Quattro tradition, the latest model features savvy high tech elements inside and out. It’s bigger and lighter too. New Audi A4 (Audi Korea)The all new Audi A4, a full changed model in eight years, revised the platform of its predecessor and used lighter components instead, losing nearly 100 kilograms in weight. The carmaker used high-strength steel, magnesium frame for backseats, module cross member
June 26, 2016
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Hyundai, Kia gear up to make splash in global green car markets
South Korea's major automobile manufacturers are all set to make a big splash in global eco-friendly vehicle markets in the coming months, local industry sources said Sunday.Hyundai Motor Co. plans to begin the sale of the Ioniq hybrid in the United States and Europe in the latter half of this year.It boasts a combined fuel economy rating of 22.4 kmpl. Many expect fierce competition with Toyota's top-selling Prius hybrid.Hyundai will also put its Ioniq pure-electric vehicle on sale in foreign ma
June 26, 2016
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GM Korea CEO warns employees over corruption
[THE INVESTOR] GM Korea chief executive James Kim warned that any employee found to be taking part in illegal activities will be dealt with sternly.“Any illegal activities or customs concerning the company will be dealt with sternly,” Kim said in an email sent to employees on June 23.GM Korea chief executive James Kim. “Remember that the actions of an individual can create negative situations for the entire organization,” Kim said, calling on GM Korea employees to focus on further raising domest
June 24, 2016
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VW Korea official arrested over emissions scandal
[THE INVESTOR] An executive of Volkswagen Korea was arrested by prosecutors on June 24 for his alleged involvement in the firm’s irregularities in the emissions scandal.The Seoul Central District Court issued an arrest warrant for the official in charge of the vehicles’ certification process, surnamed Yoon, on a charges including forging documents and violating the Clean Air Conservation Act.The court said there are enough reasons indicating that he is responsible for the crimes.The 52-year-old,
June 24, 2016
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Volkswagen to recall 2,425 Passat sedans for engine oil pump failures
[THE INVESTOR] Audi Volkswagen Korea -- the local importer and distributer of Germany‘s Volkswagen Group -- will recall 2,425 units of its Passat sedans for an engine oil pump failure, the South Korean transport ministry said on June 24.A defect in the oil pump shaft may result in low or no oil pressure, which could cause the engine to stop without warning. The government said 2,425 units of the Passat 2.0 TDI sedans produced between July 13, 2005, and May 16, 2008, are eligible for free repair
June 24, 2016
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Kia tops U.S. car quality survey
The nation’s second-largest automaker Kia Motors topped a car quality survey by the U.S.-based business consultancy agency J.D. Power, the carmaker said Thursday.It is the first time in 30 years that a Korean brand has topped rankings by the U.S. firm.Porsche ranks second, followed by Hyundai, Toyota and BMW. The initial quality survey is based on responses from purchasers and lessees of new 2016 model-year vehicles sold in the U.S. market. J.D. Power received more than 80,000 surveys from vehic
June 23, 2016
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Bosch Korea says diesel engine is ‘very clean, eco-friendly’
Robert Bosch Korea’s chief has spoken up to defend diesel cars from mounting criticism that their engines are the main culprit for fine dust emissions that worsen air quality here.“Based on today’s technologies as well as (what) Bosch is offering, we do believe diesel is very clean and (used in) eco-friendly engines and (it) is also meeting emission standards,” Frank Schaefers, the head of the German engineering company’s Korean unit, said during a news conference in Seoul on Thursday. Frank Sc
June 23, 2016
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VW offers apology with no mention of Korea
[THE INVESTOR] Volkswagen held its first annual shareholders meeting in Hanover, Germany, on June 22 (local time), the first in nine months since it became embroiled in the emissions rigging scandal.While the senior management and directors apologized and explained its ongoing recall plans in Germany and the US, there were no mention of compensatory measures for victims from other countries, including Korea, where 125,522 units were affected. “On behalf of the Volkswagen Group and everyone who w
June 23, 2016
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Hyundai’s i30 compact Australia’s best-selling car for 3 months in row
[THE INVESTOR] Hyundai Motor’s i30 compact maintained it spot as Australia’s best-selling vehicle for the third consecutive month in May, government data showed. The data compiled by Australia’s Federal Chamber of Automotive Industries showed that South Korea’s top automaker sold 3,771 units of its i30 compact in Australia in May, up 126 percent from a year earlier. i30Toyota Motor’s Hilux took the second place with sales of 3,675 un
June 23, 2016
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Kia Motors ranks highest in U.S. quality test
Kia Motors Corp., South Korea's No. 2 carmaker, said Thursday it has ranked highest among nameplates in a U.S. quality test, beating Porsche and other premium brands."Kia ranks highest in initial quality with a score of 83 PP100, the first time in 27 years that a non-premium brand has topped the rankings," J.D. Power and Associates, a U.S.-based marketing information service company, said in the 2016 U.S. Initial Quality Study, referring to problems experienced per 100 vehicles (PP100).The study
June 23, 2016
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Assembly of Hyundai commercial cars in Algeria to begin in July
[THE INVESTOR] Hyundai Motor announced on June 22 that a commercial vehicle assembly line in Algeria, and that the facility will being production next month. The facility was built by Global Motors, Hyundai’s commercial vehicle vendor in Algeria.The US$63 million facility will assemble knockdown kits of Hyundai’s commercial vehicles including Mighty and Trago. The facility’s annual production capacity is 15,000 units. Mighty.The facility was built to bypass tougher regulations on imported vehicl
June 22, 2016
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[Newsmaker] GM union plagued by corruption charges
General Motors Korea has been hit by another setback after the prosecution found some dubious cash flow in the automaker’s recruiting process. Investigators are looking into allegations that some executives and members of the labor union were bribed in exchange for hiring subcontract workers to full-time regular workers. The new revelation came amid ongoing investigations into other corruption charges involved with its suppliers. The Incheon Prosecutor’s Office said earlier this week that it is
June 22, 2016
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Hyundai Mobis retains 6th place in world’s auto parts market
[THE INVESTOR] Hyundai Mobis maintained its place as the world’s sixth largest auto parts maker in 2015, industry data showed on June 22. According to the rankings by sales compiled by Automotive News, Hyundai Mobis recorded sales of US$26.262 billion to retain the sixth place for the third consecutive year. The top place was retained by Robert Bosch with US$44.825 billion. Japan’s Denso rose to the second place with US$36.03 billion, followed by Canada’s Magna International with US$32.134 billi
June 22, 2016
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Prosecutors seek arrest warrant for VW Korea executive
[THE INVESTOR] Prosecutors on June 21 filed for an arrest warrant for the head of certification unit of Audi Volkswagen Korea over the automaker’s emission rigging scandal. The head, identified by his surname Yoon, has been charged with fabrication of private documents and obstruction of justice, Seoul Central District Prosecutors’ Office said. Yoon is the first executive in the snowballing case for whom prosecutors are seeking an arrest warrant. According to prosecutors, Yoon is suspected of ma
June 22, 2016
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Korean authorities scrutinize Euro 6 vehicles in VW emissions probe
[THE INVESTOR] The prosecution team looking into Volkswagen’s emissions manipulation case are now inspecting models advertised as meeting Euro 6 emissions standards, a local daily reported on June 22. According to reports, Seoul Central District Prosecutors’ Office has requested 2015 Audi A1 vehicle to be inspected, making it the first Euro 6 vehicle to be included in the probe.About 280 units of 2015 A1 have already been sold in Korea. The 2015 Audi A1 lineup includes engines shared with 2016 A
June 22, 2016
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One household in Korea owns two cars: data
[THE INVESTOR] The number of registered cars in Korea is expected to exceed 20 million units this month, which means each four-person household owns two cars on average, the Ministry of Land, Infrastructure and Transport said on June 21. The current figure at 19,964,178 units could top 20 million within this month, the ministry said, considering the recent growing trend in the number of registered passenger cars here. Hyundai Motor’s brand store in Dosandaero, southern Seoul.Sedan cars totaled 1
June 21, 2016
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Hyundai will ‘not delay launching diesel cars’
Hyundai Motor said Tuesday it would not postpone the domestic rollout of its diesel cars despite growing concerns about pollutants from the engine. “We are going to launch diesel models of Genesis EQ900 and G80 as planned,” a senior official of Hyundai Motor told The Korea Herald. Hyundai Motor’s Genesis G80 (Hyundai Motor)The automaker’s denial came amid growing speculation that the rollout of the luxury sedans’ diesel models -- slated for next year -- will be delayed because of local consumers
June 21, 2016