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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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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'Queen of Tears' riding high on Netflix chart
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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Paris Motor Show to shine spotlight on evolution of EVs
Reflecting growing interest in battery-only cars, the Paris Motor Show, the largest auto festival in the second half of the year, kicks off Tuesday, featuring a variety of green cars ready for market debuts.From sport utility vehicles to compact cars, the show will present a series of world premieres, but the size of the show is likely to be smaller than previous editions, with a group of carmakers skipping the event.It is considered one of the five major auto shows in the world, but it has been
Sept. 30, 2018
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Renault Samsung struggles with sales skid, unresolved wage talks
Despite signs of South Korea’s domestic auto market on track for a sales recovery, Renault Samsung Motors, the local unit of French carmaker Renault, has been hit with plummeting sales and constant friction with its labor union in wage negotiations, industry experts said Friday. It looks set to miss this year’s goal to sell 100,000 vehicles on the local market. The automaker sold 55,630 units here, down about 18 percent on-year, between January and August, data from the company showed. Among fiv
Sept. 28, 2018
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Renault-Nissan-Mitsubishi alliance tops H1 global sales
Renault-Nissan-Mitsubishi, the world’s largest automotive alliance, has topped global sales in the first half by selling 5.53 million units, the company said Wednesday. The Franco-Japanese partnership topped the list again this year for the second time, with a 5.1 percent increase on-year. It took the top honor last year. The sales growth was driven by increased demand for crossovers, sport utility vehicles and pickups as well as zero-emissions electric and hybrid-electric models, the alliance s
Sept. 26, 2018
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[Hydrogen Korea] Car from the future: Nexo excels but faces hydrogen indifference
The Korea Herald is publishing a series of articles on South Korea’s latest measures to support the hydrogen economy, the market drive for hydrogen-powered vehicles and the hurdles that stand in the way. This is the fifth installment. -- Ed.(Video shot and produced by Lim Jeong-yeo/The Korea Herald)Surrounded by gasoline cars at the Yongin expressway service area, south of Seoul, a midsized sport utility vehicle with a sleek body and grey matte finish caught the eye of motorists. Looking unfamil
Sept. 26, 2018
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Hyundai Motor Chief Vice Chairman Chung to return from US mission
Hyundai Motor Group Chief Vice Chairman Chung Eui-sun is expected to return home over the weekend after a weeklong trip to the US to persuade officials to allow exemptions from auto tariffs, industry insiders said Friday.According to Hyundai Motor, Chung flew to the US earlier this week to meet with Commerce Secretary Wilbur Ross and officials to convey the automaker’s concerns and economic contributions, amid US President Donald Trump’s push to slap 25 percent tariffs on imported automobiles.Th
Sept. 21, 2018
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Coupang’s Rocket Delivery reaches 1 billion mark in 4 years
Coupang’s Rocket Delivery has surpassed 1 billion deliveries four years after the South Korean e-commerce firm started the end-to-end service, the company said Thursday.To bring innovation to the e-commerce market, the company has built its own logistics center and hired deliverymen to handle the entire process from product purchase to door-to-door delivery. The speed of the service is key so customers can receive the products they ordered the next day, the company said. Rocket Delivery is the f
Sept. 20, 2018
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Hyundai Motor enters green commercial vehicle market with hydrogen trucks
Hyundai Motor will supply 1,000 hydrogen-powered fuel cell trucks to Europe over the next five years, making its debut on the continent’s green commercial vehicle market, the company said Thursday.The South Korean carmaker signed a memorandum of understanding with Swiss hydrogen company H2 Energy at the trade show IAA Commercial Vehicles 2018 held in Hanover. H2 Energy Chairman Rolf Huber (second from left) speaks at a press conference held on the sidelines of IAA Commercial Vehicles 2018 in Han
Sept. 20, 2018
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Police raid BMW parts supplier in probe of vehicle fires
Police raided a parts supplier of BMW Korea on Thursday as part of a probe into suspicions the Korean unit of the German carmaker covered up vehicle defects that led to dozens of engine fires in recent months. The Seoul Metropolitan Police Agency sent investigators to the supplier's headquarters in the southern city of Yangsan and its research center near Seoul. The company supplies exhaust gas recirculation coolers and pipes, which BMW blamed for more than 40 vehicle fires this year. (Yonhap)B
Sept. 20, 2018
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Inter-Korean railway will turn S. Korea global logistics hub: experts
South Korea will become a global logistics hub benefitting giants in the industry here if a railway project aimed at reconnecting the South and the North is realized, experts at a forum in Seoul on Tuesday.“Strained ties between the South and the North have blocked the (international) logistics flow. But if the inter-Korean railway is reconnected all the way to Busan, neighboring countries will enjoy a large convenience in terms of time and costs,” said Na Hee-seung, head of the Korea Railroad R
Sept. 18, 2018
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Audi Korea fulfills environment responsibilities through A3
Audi Korea delivered 700 units of the 2018 A3 40 TFSI compact sedan last month through its eight official used car dealerships nationwide, the company said Tuesday.Under a law enacted to improve air quality in capital regions, which was revised in 2013, carmakers that sell over 4,500 units annually are required to make up 9.5 percent of their sales with low-emissions cars such as pure electric vehicles and hybrid vehicles.Audi Korea’s quota for this year is 3,000 units, which it has fulfilled th
Sept. 18, 2018
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Dispute-free SsangYong Motor to aim overseas with new SUVs
Upon reaching a much-awaited consensus to reinstate remaining dismissed workers, SsangYong Motor, the local unit of Indian car maker Mahindra & Mahindra, vowed to make forays into overseas markets with three new models to be released next year, the company said Sunday.The carmaker’s management, labor union and the Korea Metal Workers’ Union agreed last week to reinstate 119 dismissed assembly workers who had been let go in 2009 when then-largest shareholder China’s state-run automaker SAIC Motor
Sept. 16, 2018
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Hyundai heir promoted to oversee group
Hyundai Motor Group Chairman Chung Mong-koo promoted his son Chung Eui-sun to executive vice chairman, a new position created to assist his father, the company said Friday.The heir to the world’s fifth-largest carmaker has worked as the vice chairman of Hyundai Motor Corp. so far. The promotion will give him authority to oversee the entire operation of the Hyundai Motor Group, of which Hyundai Motor Corp., is a part. Hyundai Motor Group Executive Vice Chairman Chung Eui-sun (Yonhap)According to
Sept. 14, 2018
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Labor questions GM’s HR decision
After a brief compromise, unionized laborers of GM Korea said they oppose the company’s decision to relocate an executive previously in charge of laying off workers at its Gunsan factory that shut down in May to its headquarters.GM Korea has named Lee Dong-woo, senior vice president who headed overall operations of the Gunsan factory, as the head of the Bupyeong manufacturing site. The unionized workers claimed that Lee had pressured workers to retire voluntarily by telling them that they would
Sept. 13, 2018
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Business chiefs: Hydrogen can power digital innovation
Hydrogen can speed up the evolution of digital technologies and is a reliable source of energy that can tackle climate change, said CEOs from global companies that gathered for an annual forum on the alternative energy on Thursday.“Together, we can deliver concrete solutions while ensuring a sustainable future. We believe hydrogen is key to power the digital revolution,” said Benoit Potier, CEO and chairman of Air Liquide and co-chair of the Hydrogen Council.Hyundai Motor Vice Chairman Yang Woon
Sept. 13, 2018
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GM Korea reaffirms need to set up R&D entity
Tension at GM Korea has escalated following state-run Korea Development Bank’s announcement that it filed a preliminary injunction last week against the company’s move to split the research and development center from the local unit as a separate corporate body.In response, GM Korea on Wednesday reaffirmed that the separation would boost efficiency and capacity of workers and management in R&D.It also downplayed the labor union’s claim that GM was laying the groundwork to pull out of Korea by es
Sept. 12, 2018
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[Hydrogen Korea] ‘Hydrogen technology could save ailing shipbuilders’
The Korea Herald is publishing a series of articles on South Korea’s latest measures, hurdles and the market drive for hydrogen economy. This is the fourth installment. -- Ed.Hydrogen technology, which aims to replace the use of fossil fuels, would not only benefits carmakers, but also other traditional industrial players such as shipbuilders, the head of H2Korea said in a recent interview with The Korea Herald.“The market perception that the government’s push for hydrogen technology is only for
Sept. 12, 2018
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Hyundai, Kia become third-largest SUV makers in H1
Hyundai Motor and its sister company Kia Motors were the third-largest sport utility vehicle makers in the first half of the year, a survey showed Wednesday.According to the UK market research firm Jato Dynamics, combined SUV sales by the two companies accounted for 8.2 percent of total global sales of SUVs, a 1.2 percentage point increase from 7 percent in the same period last year. Facelifted Tucson unveiled in Aug seen during a test drive. (Hyundai Motor)About 15 million SUV units were sold i
Sept. 12, 2018
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Hyundai expands investment in new batteries, mobility services
Hyundai Motor is investing in foreign startups in the US that develop solid-state batteries and mobility services, as part of its investment in future technologies, according to news reports.The South Korean carmaker was among a list of investors in the Series A funding round arranged by Solid Power, a Colorado-based solid-state battery cells maker, according to Bloomberg on Tuesday. The list of investors for the $20 million financing round also included the venture capital unit of Samsung Elect
Sept. 11, 2018
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[Newsmaker] The war is on: Elliott reveals letters to Hyundai in apparent resumption of push for change
Elliott Advisors, the Hong Kong arm of Elliott Management, on Friday afternoon released letters it had sent a month earlier to directors of Hyundai Mobis, Hyundai Motor Company and Kia Motors. The recent move is a response to news reports full of speculation that the US hedge fund leaked excerpts of its letters to the media.“Because portions of these letters were selectively provided to the press and others, Elliott has decided to make the full contents of the letters publicly available in the i
Sept. 7, 2018
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Hyundai Motor Vice Chairman vows to lead India’s smart mobility revolution
Hyundai Motor Vice Chairman Chung Eui-sun vowed on Friday to transform the automotive group in response to changes in the auto industry so that it can take the lead in India’s smart mobility revolution.Speaking in New Delhi at the first Global Mobility Summit, called MOVE and organized by the Indian government, Chung detailed the three-point strategy that Hyundai would pursue in order to reach its goal in the world’s fourth-largest electric vehicle market, where it now ranks No. 2 in sales after
Sept. 7, 2018