Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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Samsung mocks Apple over iPhone alarm glitch
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'Queen of Tears' riding high on Netflix chart
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Chip up cycle won’t stay long: SK chief
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Hyundai Nexo among Euro NCAP's best rated cars in 2018
Hyundai Motor Co. said Thursday its Nexo hydrogen fuel cell electric car has been awarded Europe's best in class for safety in the large off-road category for this year. The European New Car Assessment Program tested the Nexo in four categories: the safety of adult passengers, the safety of children in rear seats, the safety assistance system and the safety of passers-by and bicycles on roads, Hyundai said in a statement. (Yonhap)"Hyundai is committed to provide customers and other road users w
Dec. 13, 2018
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Korea to announce measures on auto parts industry
South Korea will announce a set of support measures next week for the country's troubled auto parts industry, a top official said Thursday.Hong Nam-ki, the minister of economy and finance, said the auto industry is a major priority as South Korea has been struggling to reinvigorate the manufacturing sector, a key part of South Korea's economy. (Yonhap)Hong did not provide any further details on the set of measures during a visit to a small auto parts maker in Asan, some 100 kilometers south of S
Dec. 13, 2018
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GM Korea launches Chevy Camaro SS to diversify lineup
YONGIN -- GM Korea Co., the South Korean unit of General Motors Co., on Thursday launched its new Camaro SS in the domestic market to diversify its product lineup.The upgraded version of the sixth-generation Chevrolet muscle car comes with a 6.2-liter V8 engine and the Hydra-Matic 10-speed automatic transmission. It has 455 horsepower on tap and 62.9 newton meters of torque, and can accelerate from zero to 100 kph in four seconds, GM Korea said in a statement. The New Camaro SS sports car (Yonh
Dec. 13, 2018
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Hyundai heir tightens grip with massive executive reshuffle
South Korea’s largest carmaker carried out a drastic executive reshuffle Wednesday, with the heir replacing his father's close aides with young CEOs and a foreign engineer, seeking immediate change within the 51-year-old conglomerate.In the sweeping reshuffle, led by Hyundai Motor Group Executive Vice Chairman Chung Eui-sun, the group appointed former BMW chief engineer Albert Biermann as its first foreign head of research and development. Hyundai Motor Group Executive Vice Chairman Chung Eui-su
Dec. 12, 2018
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Palisade aims to take No. 1 in large SUV segment
YONGIN, Gyeonggi Province -- Despite being a late starter, Hyundai aims to take the top position in the large sport utility vehicle sector both in South Korea and in other major markets, the company said Tuesday, stressing the innovative design, high quality and state-of-the-art technology of its new SUV Palisade. Eight business days since the official launch of the new SUV on Nov. 29, the company has received 20,506 preorders. In contrast, there were only 14,000 preorders for the Santa Fe so so
Dec. 11, 2018
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Hyundai to invest W7.6tr in FCEVs, up production of fuel cell stacks
CHUNGJU, North Chungcheong Province -- Hyundai Motor Executive Vice Chairman Chung Eui-sun on Tuesday introduced the automaker’s long-term plan to manufacture 500,000 units of fuel cell electric vehicles here annually by 2030 in an effort to overtake rivals Japan and China in the FCEV market.With these goals in mind, Hyundai Mobis, the auto parts supplier, held a groundbreaking ceremony for its second hydrogen fuel cell stack factory, which when complete is expected to produce stacks for some 40
Dec. 11, 2018
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Hyundai, Kia sales in US surpass 20 million
South Korean carmakers Hyundai and Kia have sold a combined 20 million vehicles in the US since entering what is currently the world’s second-largest market 33 years ago.Their accumulated sales marked 20.69 million units as of November, the companies’ data showed. Hyundai entered the market in 1985. Kia, after it was acquired by Hyundai, started selling vehicles there in 1994. (Hyundai Motor)By company, Hyundai has sold around 60 percent of the total, or 12.22 million units, while sister affilia
Dec. 10, 2018
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Hyundai, Kia’s green car sales to further grow on govt support
Hyundai Motor and Kia Motors’ green car sales are widely expected to grow further in 2019 on the back of the government’s increased budget to expand the use of ecofriendly cars here, industry insiders said Sunday. The two flagship companies of Hyundai Motor Group sold a combined 257,861 units globally between January and November this year, up 10 percent on-year, according to officials.By vehicle type, sales of electric vehicles soared 112.4 percent to 52,370 units, plug-in-hybrids 51.9 percent
Dec. 9, 2018
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FTC fines Volvo for not following technical data request guidelines
South Korea's antitrust watchdog said Sunday that it has fined Volvo's local unit 20 million won($17,800) for not adhering to the country's technical data request guidelines when dealing with its subcontractors. An excavator made by Volvo Group (Yonhap)The Fair Trade Commission said that besides the fine, Volvo Group Korea, which produces and sells excavators and various types of construction equipment here, has been instructed to change its practices in regards to asking for blueprints for comp
Dec. 9, 2018
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Failed negotiation puts Hyundai’s Gwangju plant plan adrift
A joint venture plan involving a local government and Hyundai Motor to build a manufacturing plant in Gwangju for sake of reinvigorating the local economy went adrift Thursday as the sides failed to narrow their differences at the last minute.Gwangju’s city government on Wednesday demanded Hyundai Motor remove a condition that wage renegotiations be suspended for the first five years. Later in the evening, Hyundai Motor rejected the demand, saying that the revised proposal no longer makes its in
Dec. 6, 2018
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Hyundai i30 N rated top sports car in Germany, Australia
Hyundai Motor Co.'s i30 N high-performance car topped other sports cars in Germany and Australia for this year, the company said Thursday. In Germany, the i30 N hot hatchback has been named the 'Import Winner' in the Auto Bild Sports Cars of the Year awards in the small car & compact category, Hyundai said in a statement. Hyundai i30N (Yonhap)In Australia, the vehicle beat out others in Australia's Best Cars Awards, or ABC awards, in the best sports car under $50,000 category. It also ranked 1st
Dec. 6, 2018
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LG Chem's EV battery biz likely to turn profit in Q4
LG Chem may well be able to make a turnaround and post a profit in its electric car battery business for the first time ever in the fourth quarter, market watchers said Thursday.The South Korean company does not separately disclose the performance of the EV battery business, but the prevalent view is that it will hit an annual operational profit of 196 billion won ($176 million) next year. The balance last year was 114 billion won in the red, which is expected to shrink to 56 billion won in the
Dec. 6, 2018
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SsangYong returns to Australia, launches sales unit
South Korean SUV maker SsangYong Motor established an overseas sales subsidiary in Melbourne, Australia, last week, as part of efforts to expand its global operations, the company said Wednesday.The Australian unit will lead SsangYong’s overall operation in the country, building dealership networks and bolstering customer service. The carmaker expects to expand shipments to Australia, following its previous entries into Europe, South America and the Middle East. The carmaker is re-entering the A
Dec. 5, 2018
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LSIS acquires Parker Hannifin’s ESS unit
LSIS, a South Korean power and energy solution provider, has acquired an energy storage system unit from US-based Parker Hannifin to expand its presence in the global smart energy market, it announced Wednesday. Citing confidentiality, the company did not disclose the deal value. Parker Hannifin is a leader in motion and control technologies and its ESS business, now acquired by LSIS, is the largest in the US and holds top-level ESS-related technologies, said officials in Anyang, Gyeonggi Provin
Dec. 5, 2018
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GM exec says R&D separation is essential to GM Korea's viability
General Motors Co. Vice President Barry Engle recently flew to South Korea to underscore the necessity of a separate R&D corporation for the viability of its loss-making South Korean unit, GM Korea said Wednesday. GM Korea didn't provide details of the GM executive's schedule in Korea but confirmed he had a meeting with Lee Dong-gull, chairman of the state-run Korea Development Bank, the second-biggest shareholder of the carmaker after GM. General Motors Co. Vice President Barry Engle (Yonhap)T
Dec. 5, 2018
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As Jaguar eyes driverless cars, steering wheels to stay: designer
As the global auto industry prepares to usher in the era of autonomous driving, carmakers are increasingly presenting concept cars with unique exterior and interior designs, breaking away from traditional style.Sharing his thoughts about the role of design in future mobility, legendary car designer with Jaguar Ian Callum said Wednesday that Jaguar’s driverless cars will be equipped with steering wheels, while acknowledging the silhouette of cars in general will undergo change.“I think it will be
Dec. 5, 2018
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Hyundai Motor goes all-out in US marketing on signs of recovery
Encouraged by signs of improving sales in the US, South Korean automaker Hyundai is going trendy in marketing its next vehicles in the global market. According to Hyundai Motor and Kia Motors, they sold a combined 102,600 units in the US in November, up 1.1 percent on-year. Hyundai Motor’s sales last month in the US market came to 57,082 units, up 3 percent on-year, while Kia Motors saw a 1.8 percent increase at 45,101 units. Increased sales in the US, largely due to the wider range of sport uti
Dec. 4, 2018
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KAIST to help build science research institution in Kenya
The Korea Advanced Institute of Science and Technology, the nation’ first research-intensive institution established with a development loan from the US in 1971, will help the Kenyan government build a science research hub starting next year, it said Monday.KAIST has concluded a deal with the Kenyan government to build a science research institution with a 107 billion won ($95.7 million) loan from the South Korean government. KAIST leads a South Korean consortium that includes local builders and
Dec. 3, 2018
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Genesis G70 named car of the year by US magazine
MotorTrend’s cover story on the Genesis G70 (Hyundai Motor)The 2019 Genesis G70, a sports sedan under Hyundai Motor’s Genesis marque, was named car of the year by US magazine MotorTrend last week, the company said Monday.The luxury sports sedan competed with 19 other car of the year award contenders, including the BMW3, in the magazine’s annual evaluation. It won the award for being the most competent, desirable and capable vehicle to debut for the 2019 model year, the magazine said in a stateme
Dec. 3, 2018
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Hyundai, Kia carry out overseas executive reshuffles
Hyundai Motor and Kia Motors conducted overseas executive reshuffles with the goal of strengthening their regional headquarters, the two companies said Friday. The latest change comes less than a month after similar reshuffles in China.Hyundai Motor Group said the purpose of the reshuffles was “to strengthen organizational agility to adapt to a rapidly-changing business environment.”Kim Seung-jin, new head of Hyundai Motor’s global operations division (Hyundai Motor)Hyundai Motor appointed Kim S
Nov. 30, 2018