Most Popular
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Yoon sorry for shortcomings but insists policies were right
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1 in 3 Koreans live alone, family types becoming diverse
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S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
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US 'incredibly concerned' about suspected NK-Iran military ties
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Korean won weakens amid heightened uncertainty
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Seoul says will cut power to porn festival planned on Han River
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Sewol victims commemorated on tragedy's 10th anniversary
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Chanel, Louis Vuitton see muted growth in Korea
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US auto tariff will hurt S. Korean, US carmakers: report
A 25 percent tariff slapped on imported vehicles and auto parts by the United States could have a serious impact on South Korean and U.S. carmakers in the long term, a local think tank said Wednesday. If the US invokes Section 232 tariffs on vehicles and components imported from the European Union and other trading partners, it could have far-reaching consequences for the auto industry around the world, the Korea Economic Research Institute said in its recent report. (Yonhap)"If the country doe
Jan. 23, 2019
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Industry ministry, KITA join forces against protectionism
South Korea's international trade organization said Wednesday it held a meeting with the industry ministry to share ideas on supporting the local automobile industry amid growing protectionism around the globe.The Korea International Trade Association said it held this year's first round of regular forum talks with the Ministry of Trade, Industry, and Energy, centering on the car industry. (Yonhap)While KITA and the ministry have held regular trade discussions once a year, the two decided to co
Jan. 23, 2019
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McDonald’s McDelivery scooters to go all green by 2021
McDonald’s in Korea will replace all of its motorbikes used for its delivery service with electric scooters by 2021, the Korean branch of the fast food chain said Tuesday.“In the next three years, we are going to replace around 1,400 vehicles (operated by) restaurants under direct management with electric bikes,” it said in a statement. Electric bikes are lined up at a McDonald's chain in Jeju. (McDonald's Korea)The fast food giant has placed around 40 electric bikes late last year for its opera
Jan. 22, 2019
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Hyundai Mobis secures record $1.7b worth of overseas orders
South Korean auto parts-maker Hyundai Mobis has secured $1.7 billion worth of overseas orders from foreign carmakers last year, marking a record on-year increase of 40 percent, the company said Tuesday.Overseas sales of core auto components by the company have also shown rapid growth, having shot up from $500 million in 2015 to $1.2 billion in 2017. (Hyundai Mobis)The company has secured around 60 percent of its overseas orders -- worth $1 billion -- from electric vehicle manufacturers from Chin
Jan. 22, 2019
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Kia sales in Britain top 1 m vehicles
Kia Motors Corp. said Monday that early this month its total sales in Britain exceeded one million vehicles since it started exporting to the country 28 years ago. On Jan. 10, Kia's vehicle sales in the country hit the milestone after reporting 998,069 units at the end of December, the company said in a statement. (Yonhap)Kia entered the market with the Pride compact in 1991. It later launched models, such as the Sportage compact SUV, the Ceed hatchback, and the Morning mini car, it said. For al
Jan. 21, 2019
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[Behind The Wheel] Tale of two sports cars in wintery Korea
Driving a sports car on slippery roads in wintertime is definitely not a smart thing to do, but can be fun if you know how to handle the adrenaline-stimulating horsepower from a turbocharged engine. And the advanced safety features of the latest sports cars to hit the market, including GM’s all-new Camaro and Mercedes-Benz’s 400 d 4Matic, ensure a driving experience that’s fun but not terrifying.Mercedes-Benz`s CLS 400 d 4 Matic run on slippery roads on Dec. 13, 2018. (Cho Chung-un/The Korea Her
Jan. 20, 2019
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Korea to spend W7.3b on unmanned vehicle technology in 2019
South Korea will spend 7.3 billion won ($6.51 million) this year to develop innovative technologies for aerial, marine and ground-based unmanned vehicles, the government said Sunday. The Ministry of Science and ICT said it has finalized the scale of various projects to secure core technologies that can allow autonomous vehicles to operate in the air, on land and at sea. Google`s self-driving vehicle (Google) “(The government) will make efforts to overcome the limits of commercialization of unma
Jan. 20, 2019
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Korea's auto exports up 22.6% in December
South Korea's automobile exports shot up 22.6 percent on-year in December on the back of the release of new models from local carmakers, government data showed Friday.According to the Ministry of Trade, Industry and Energy, automakers here shipped 219,313 cars overseas last month, rising sharply from a year earlier, with the value estimated at $3.78 billion. (Yonhap)For the whole of 2018, the number of cars shipped abroad edged down 3.2 percent to 2.44 million units, or $40.9 billion due to the
Jan. 18, 2019
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Korea lagging behind Japan, China in EV battery competitiveness
South Korean battery makers are lagging behind their rivals in China and Japan in electric vehicle battery competitiveness, a local think tank said Thursday. Korean car battery companies, such as LG Chem Ltd. and Samsung SDI Co., have witnessed their combined share in the global battery market plunge to 11 percent in 2018 from 30 percent in 2014, due mainly to a lack of captive buyers, the Korea Economic Research Institute said in a statement. (Yonhap)"Unlike their Korean rivals, Chinese power
Jan. 17, 2019
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Mercedes-Benz vows push for future mobility with EQ brands
Mercedes-Benz Korea, the Korean unit of the German carmaker, said Thursday that it would push future mobility this year and roll out the new EQC crossover, its first fully electric sport utility vehicle.Declaring 2019 as the “year of EQ,” the company said it would launch four new plug-in hybrid electric vehicles in addition to the new fully electric SUV, as well as nine new models and six facelifted ones to strengthen its product lineup.The exact local launch date remains undecided, the company
Jan. 17, 2019
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Korea to produce 6.2 million hydrogen cars by 2040
South Korea will produce 6.2 million units of fuel cell electric vehicles and build 1,200 refilling stations across the country by 2040, in a major industrial push aimed at securing energy independence and assuming a leadership role in hydrogen technology. President Moon Jae-in (center) looks at a model of the hydrogen fuel cell electric vehicle Nexo during a visit to a Hyundai Motor facility in Ulsan on Thursday. (Yonhap)In its road map announced Thursday, the government said it would diversify
Jan. 17, 2019
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Hyundai Mobis, KT team up for 5G-based connected car technology
Hyundai Mobis, the car parts making arm of Hyundai Motor Group, said Thursday that it has partnered with telecommunication company KT to jointly develop connected car technologies. The companies have launched fifth-generation network service at Hyundai Mobis’ test ground in Seosan, South Chungcheong Province, in an effort to ramp up the drive for connected car research and development.A connected car refers to a car equipped with internet access, usually a wireless local area network. This allow
Jan. 17, 2019
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Hyundai, Kia to recall 168,000 vehicles in US for faulty fuel pipes
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. said Thursday they will recall approximately 168,000 vehicles in the United States over defective fuel pipes.The recall involves fixing improper repairs during the previous two recalls over engine failures and offering software upgrades for the affected vehicles, the companies said. (Yonhap)The software update is designed to protect the vehicles from engine damage, and new extended warranties will be offered for engine problems, they s
Jan. 17, 2019
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Korea sets FCEV target at 80,000 units by 2022
South Korea will increase the number of hydrogen-powered vehicles on the roads by 80,000 units in the next four years, the finance minister said Wednesday.Deputy Prime Minister and Minister for Economy and Finance Hong Nam-ki said at a ministerial meeting on innovation-led growth in Seoul that the new fuel-cell electric vehicle target is part of a broad strategy aimed at building an ecosystem for hydrogen industries. It would include producers of the fuel as well as technologies that store and t
Jan. 16, 2019
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[Herald Interview] Audi Volkswagen steps up to support Korea’s Industry 4.0 drive
Determined to restore customer trust and committed to doing so by contributing to society, the head of the Korean arm of Audi Volkswagen said the automaker is on board with the South Korean government’s drive to promote future technologies and is planning to foster young professionals in the area of future mobility.In an interview with The Korea Herald, Rene Koneberg, a group managing director with Audi Volkswagen Korea, said the company would start providing educational and cultural opportuniti
Jan. 15, 2019
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Kona, Genesis G70 win top auto awards in US
Hyundai Motor became the first South Korean automaker to have two vehicles win top US auto awards this month, signaling a favorable start for the auto giant to gain fresh momentum in the sought-after market this year.The annual award given by 55 automotive journalists was announced at the North American International Auto Show in Detroit that officially kicked off Tuesday.The Hyundai Genesis G70 and Hyundai Kona won the North American car and utility vehicle of the year awards, respectively. Man
Jan. 15, 2019
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Toyota Motor Korea fined 817 m won for deceptive advertising
South Korea's antitrust watchdog said Tuesday that it has fined Toyota Motor Korea Co. 817 million won ($729,000) for deceptive advertising of its RAV4 sport utility vehicle.Toyota Motor Korea advertised that its RAV4 obtained a top safety pick in five test categories, including the driver's side small overlap front and roof strength, from the U.S. Insurance Institute for Highway Safety in 2015. (Yonhap)In 2016, the RAV4 earned the Top Safety Pick Plus rating from the independent nonprofit organ
Jan. 15, 2019
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Hyundai, Kia's US sales almost flat in 2018
Hyundai Motor Co. and its affiliate Kia Motors Corp. posted 0.6 percent on-year sales growth in the United States last year due to a slowing economy and a lack of competitive models, the companies said Monday.In 2018, Hyundai and Kia sold a combined 1.27 million vehicles in the US market. Hyundai's sales fell 1.1 percent on-year to 677,946 units and Kia's were little changed compared to a year earlier at 589,763 units, Hyundai Motor Group said in a statement, citing figures from Autodata Ltd., a
Jan. 14, 2019
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S. Korea calls for auto tariff relief from US
South Korea's finance minister called Friday for an exemption from US tariffs on South Korean automobiles as he expressed deep concerns about an ongoing US probe.Hong Nam-ki, the minister of economy and finance, made the appeal in a meeting with US Ambassador to South Korea Harry Harris at the government complex building across from the US Embassy in central Seoul, according to the finance ministry. Hong Nam-ki (L), the minister of economy and finance, shakes hands with US Ambassador to South Ko
Jan. 11, 2019
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Posco chief says no plans for overseas investment in steel sector
The head of the nation’s largest steelmaker Posco said he has no plans to make additional investment overseas in the steel sector this year but will focus on securing natural resources needed for its lithium-ion battery business touted as the company’s new growth engine.“With regard to steel, (I) don’t have any plans for making additional investment or (pursuing) mergers and acquisitions overseas,” said Posco Chairman Choi Jeong-woo in a brief meeting with reporters Thursday. “As for the new bus
Jan. 11, 2019