Most Popular
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What is Hybe’s next move?
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Hopes rise for possible Gaza truce deal
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Seventeen shows who is the ‘Maestro’ of K-pop in greatest hits album
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Around 50% of people with disabilities aged 65 or above: report
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SsangYong lauds outgoing CEO for company revival
Despite a slowing economy and growing uncertainties for market growth, South Korean SUV maker SsangYong has put its business back on track in the last four years, the company said Tuesday, crediting its CEO’s leadership for its revival.SsangYong Motor CEO and President Choi Johng-sik joined the carmaker in 2010 as domestic sales head and was appointed to the top post in 2015. The CEO with 43 years of experience in the local auto market has realigned SsangYong’s SUV lineup entirely, set a sales r
March 26, 2019
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LG chairman vows sustainable, transparent management
Chairman Koo Kwang-mo of LG Corp., the holding company of LG Group, on Tuesday vowed to pursue sustainable and transparent management to increase public trust in the nation’s fourth-largest conglomerate, while taking pre-emptive measures to take the lead in the fast-changing market.In a statement read by Vice Chairman Kwon Young-soo during the annual shareholders meeting, the chairman said the conglomerate was facing pressure from the changing times, with technological convergence fast reshaping
March 26, 2019
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Jaguar Land Rover Korea introduces upgraded Velar
Automobile lovers in South Korea are about to be presented a feast for the eyes with a luxury crossover SUV built with a V8 supercharged engine and diamond-quilted leather interior.Jaguar Land Rover Korea will launch the Range Rover Velar SVAutobiography Dynamic Edition at the Seoul Motor Show, set to begin Friday at Kintex. The new Range Rover Velar SVA-D has been dubbed the top Velar model produced by Land Rover’s Special Vehicle Operations team. It is an optimized version of the existing Rang
March 24, 2019
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Hyundai Motor shareholders reject Elliott's dividend plans, board member candidates
Ending weeks of arguments over the adequacy of Hyundai Motor’s dividend plans, shareholders on Friday rejected a proposal by US activist investor Elliott Management that urged it to provide a combined 8.3 trillion won ($7.3 billion) dividends to investors this year.At an annual shareholders meeting held at the carmaker’s headquarters in Seoul, 86 percent of the shareholders voted for Hyundai’s plan of offering 1.1 trillion won in dividends while 14 percent stood by Elliott’s proposals.Shareholde
March 22, 2019
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Panel to shape Posco’s new CSR vision
Posco has launched a new committee consisting of outside directors and scholars to enhance the steelmaker’s presence as a socially responsible company, the company said Thursday.The seven-member Corporate Citizenship Committee is chaired by former Sungkyunkwan University President Kim Jun-young, with professor Chang Sea-jin of the National University of Singapore and professor Kim In-hoe of Inha University’s law school serving as panelists. Kim Jun-young, chairman of Posco’s Corporate Citizenshi
March 21, 2019
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Hyundai sets new Sonata sales target at 70,000 this year
Hoping to pick up the declining sales of midsize sedans, Hyundai Motor on Thursday said it has set the 2019 sales target of more than 70,000 units for the eighth-generation Sonata, a signature vehicle for more than three decades through which it has built its reputation.“By setting the sales target at 70,000 units this year, excluding (the number of vehicles to be sold) for commercial use, (Hyundai) will cement its No. 1 position in the sedan segment,” said Lee Kwang-guk, vice president for the
March 21, 2019
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Hankook Tire strives to be global top-tier OE tire maker
South Korea’s leading tire manufacturer, Hankook Tire, is currently ramping up its research and development efforts in hopes of becoming a world-leading maker of original equipment tires. Hankook Tire is known for supplying original equipment tires to many domestic and foreign automakers. Currently, the company supplies OE tires for models such as BMW’s flagship New BMW 7 Series and the Audi RS5 Coupe.It also recently signed a supply contract for the 2019 Nissan Altima, which will feature the co
March 19, 2019
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US states launch investigation into Hyundai, Kia fires
An undisclosed number of US states have launched an investigation into "spontaneous fires" involving cars made by Hyundai Motor Co. and Kia Motors Corp.Connecticut Attorney General William Tong said Monday that the investigation is looking into "potential Unfair and Deceptive Acts or Practices" by the South Korean carmakers."My office is one of the leaders of an ongoing multistate investigation into deeply troubling reports of spontaneous fires in Hyundai and Kia vehicles," he said in a statemen
March 19, 2019
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Hyundai adopts 3rd-generation platform, starting with revamped Sonata
Hyundai Motor has developed a third-generation platform and used it for the all-new Sonata, set to be launched later this month here, the company said Wednesday.By using ultra-strength and hot-stamped steel, the platform is 10 percent stronger and 55 kilograms lighter than before, it added. (Yonhap)The new platform will help the carmaker design and manufacture safer, energy-efficient and more powerful vehicles. It is the basis of improving the carmaker’s performance and reduce air resistance.The
March 13, 2019
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Hyundai Mobis to invest W5.5b in Chinese AI startup
South Korean auto part maker Hyundai Mobis will invest 5.5 billion won ($4.86 million) in DeepGlint, a Chinese startup developing 3D image analysis and pattern recognition technologies.The company is a leader in the fields of security monitoring and business analysis, and has developed facial recognition technology that can identify a single person out of 1 billion people from a distance of 50 meters. (Yonhap)Mobis’ investment in DeepGlint is aimed at securing technologies for recognizing in-veh
March 13, 2019
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[Behind the Wheel] The all-new QX50: An elegant ride powered by a smart turbo engine
The 2017 model of Nissan’s luxury crossover Infiniti QX50 drew frequent comparisons to its rivals, Mercedes-Benz’s GLC and BMW’s X3. Mercedes-Benz sold 5,717 GLC vehicles in South Korea in 2018 and BMW sold 2,304 X3s -- far outpacing Nissan, which sold only 27 QX50s so soon after its launch.But it is too early to say that the Infiniti QX50 is lagging behind, because after a one-year hiatus the all-new QX50 is here, having undergone an impressive transformation. The new QX50 differs significantly
March 11, 2019
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Kia Motors considers halting operations of plant in China
Kia Motors Corp., South Korea's No. 2 auto maker by sales, said Sunday that it is considering halting operations of one of its plants in China amid weak sales.The suspension of operations at one of its plants in Yancheng in eastern Jiangsu province is under review to secure production efficiency and profitability, the company said.The Yancheng Plant 1 has a production capacity of 140,000 units per year. Combined with two other plants in the city, they produce 890,000 units a year with some 6,500
March 10, 2019
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Glass Lewis backs Hyundai Motor against Elliott in dispute over dividends
US proxy adviser Glass Lewis has stepped up its support for Hyundai Motor Group in its battle against Elliott over the issue of dividend payouts, officials said Sunday.While urging shareholders to vote against Elliott’s dividend proposal, the adviser also favored the three nonexecutive director nominees selected by the carmaker and opposed those picked by Elliott. (Yonhap)“We are reluctant to recommend shareholder support for such a large one-time dividend payout,” Glass Lewis said in a report,
March 10, 2019
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Hyundai Motor turns to joint development for GBC construction
Hyundai Motor Group is expected to construct its new headquarters in southern Seoul, dubbed the Global Business Center, in partnership with external investors, a deviation from the original plan of completing it on its own. According to industry officials, Hyundai Motor Group has been contacting domestic and overseas investors to seek joint development of GBC, amid its move to save construction amount worth 3.7 trillion won and invest more on its future business growth. Last month, the automotiv
March 10, 2019
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GM Korea says development of subcompact SUV, new CUV will continue as planned
GM Korea, the South Korean unit of General Motors, said Friday that it remains committed to its plans to develop and manufacture its new subcompact sport utility vehicle and crossover utility vehicle in Korea.The statement came in response to a local news report claiming that GM Technical Center Korea would retain rights over the new CUV but would transfer global engineering rights over the subcompact SUV to China. This would mean that the new SUV model is unlikely to be manufactured in Korea as
March 8, 2019
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Hyundai Motor scaling back operations in China
With sales of vehicles in China plummeting sharply since 2017, South Korean auto giant Hyundai Motor said Thursday that it was considering suspending operations at its manufacturing plant in Beijing.Plans to suspend Hyundai Plant No. 1 are under review because the production rate has plunged to 50 percent. The carmaker’s Beijing office has already relocated or slashed 2,000 workers as part of a restructuring process. (Yonhap)But the suspension of the plant would not mean a shutdown, it said. Hy
March 7, 2019
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Posco drops bid for EV parts maker
South Korean steel giant Posco said Thursday it has decided not to pursue the acquisition of a local electric vehicle parts maker, saying that it does not fit into its battery business.The company was eyeing KCFT, formerly known as LS Mtron, which manufactures copper foils and flexible copper clad laminates for lithium-ion batteries. “For expanding our secondary battery business, we had reviewed (the feasibility) of acquiring the copper foil maker, but decided not to pursue the case anymore beca
March 7, 2019
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Kia’s Niro comes back with bolder look, new features
Niro, Kia Motors’ environment-friendly sports utility vehicle launched in 2016, made a comeback Thursday, featuring a new driving assistance system and upgraded design with bold, futuristic feels.The New Niro’s new safety features include Kia’s driving assistance program brand Drive Wise. It was developed by the automaker to offer options including stop-and-go capability for the adaptive cruise control and lane-keeping assist functions.Kia said the lane following assist function will work on all
March 7, 2019
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Hyundai unveils revamped Sonata with ‘smart’ engine
Hyundai Motor unveiled the eighth-generation new Sonata on Wednesday with drastic design changes and a “smart” engine.The Korean automaker said the new Sonata’s design, dubbed Sensuous Sportiness, was inspired by last year’s Le Fil Rouge concept that was first unveiled during the Geneva Motor Show. The new Sonata (Hyundai Motor)The new Sonata’s change can be recognized from its exterior design, the carmaker said, which has adopted a coupe-like frame, sloping roofline and low deck lid to make the
March 6, 2019
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Volvo’s V60 Cross Country lands in Korea
Volvo Korea launched its new crossover V60 in Korea on Tuesday as its first market in Asia, with the aim of continuing its popularity along with its best-selling XC60.Amid increasing demand for SUVs, Volvo Korea said its new V60 Cross Country -- which combines the comfort of driving a sedan and the driving performance of an SUV -- was built based on the module platform called Scalable Product Architecture. The V6 Cross Country (Volvo Korea)The second-generation Cross Country V60 is now 74 milli
March 5, 2019