Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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KDB, GM set to sign initial funding deal for US carmaker's Korean unit this week
General Motors Corp. and the state-run Korea Development Bank, the two biggest shareholders of GM Korea Co., are set to sign an initial funding agreement this week to help GM's Korean unit stay afloat, the two companies said Tuesday. The KDB is expected to sign a preliminary agreement with GM by Friday to extend a fresh loan worth 500 billion won ($464 million) to GM Korea, a KDB official told Yonhap News Agency over the phone. GM is also expected to sign on to the funding deal with the KDB late
April 24, 2018
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GM Korea, union reach tentative deal, avoids court protection
GM Korea and the labor union reached a dramatic agreement just an hour before the extended deadline on Monday afternoon, narrowly escaping court receivership and taking a step toward restructuring the local unit.Although the carmaker has avoided “the worst,” hurdles lie ahead in the coming days with GM headquarters and the government calling on each other to bring viable support programs. After the prolonged standoff due to conflicting stances on job security of 680 workers at Gunsan factory, th
April 23, 2018
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Fate of GM Korea hangs in balance despite new deadline
Despite the new deadline set to give the labor and the management of GM Korea a second chance to restart, the fate of the nation‘s third-largest carmaker was still in the dark Sunday as the two failed to narrow differences. The two parties had failed to narrow down differences in job security of 680 workers remaining at the Gunsan plant during the previous wage talks last Friday, the initial deadline. The company‘s board of directors are expected to vote on court receivership on the new deadline
April 22, 2018
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FTC chief calls Hyundai Motor’s reform plan ‘most desirable’
A plan by South Korean auto giant Hyundai Motor Group to spin off and merge affiliates as part of its corporate governance reform drive, is “the most desirable” case for conglomerates here attempting voluntary restructuring method under state pressure, the head of antitrust watchdog said.In a meeting with foreign press in Seoul on Friday, Kim Sang-jo, chairman of the Fair Trade Commission said the carmaker’s announcement of the owner family paying 1 trillion won ($935 million) came “unexpectedly
April 22, 2018
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Hyundai Motor affiliates to add more overseas engineers
Hyundai Motor Group's three major affiliates are looking overseas to hire from a pool of international talent as the South Korean conglomerate moves to strengthen its engineering workforce, the conglomerate said Friday.The three affiliates are Hyundai Motor Co., Hyundai Mobis Co. and Hyundai Steel Co. Hyundai Mobis is the country's biggest auto parts manufacturer and focuses on developing future vehicle technologies. (Hyundai Motor)The world's fifth-biggest automaking group plans to hold the 8t
April 20, 2018
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Hyundai Mobis to self-develop autonomous driving tech in US, Korea, Germany
Hyundai Mobis, the auto parts making unit of Hyundai Motor Group, will start developing level-3 and 4 self-driving systems through its autonomous vehicle dubbed M.Billy in the US later this month, followed by Korea and Germany, the company said Thursday.The company’s latest move is aimed at taking the lead in bolstering future mobility technology with the firm’s enhanced role in the move upon Hyundai Motor Group’s structural overhaul last month.M.Billy will contain 25 sensors self-developed by M
April 19, 2018
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Renault Samsung Motor’s SM6 boasts premium options
Renault Samsung Motor, the South Korean unit of French carmaker Renault, said Thursday its popular SM6 midsize sedans come with various premium options drivers can choose from, giving it a competitive edge in the segment.“Due to size and price it is appropriate to offer a variety of options for midsize sedans, which are mostly used as family cars or for business purposes. Owners of SM6 can install different high-tech and sophisticated options,“ the company said. Renault Samsung Motor‘s 2019 mode
April 19, 2018
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Hyundai overtakes BMW in Europe, Kia sales also grow
The number of cars South Korean auto giants Hyundai and Kia sold in Europe grew last month despite declining auto sales in the region, data showed Thursday.According to the European Automobile Manufacturers Association, the number of newly registered cars in March fell 5.3 percent on-year, falling for the first time since 2014. Hyundai Motor, meanwhile, sold a total of 60,663 units, a 3.6 percent increase from the same month last year. Its sister company Kia Motors sold 56,725 units, a 4.8 perce
April 19, 2018
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Volkswagen Korea to introduce 5 new models this year
Volkswagen Korea, the local unit of the German carmaker, has introduced its new lineup for 2018 -- three sedans and two sport utility vehicles -- seeking to regain its No. 3 position in the imported car market, the company said Wednesday.The five models are: the new Tiguan midsize SUV, Tiguan Allspace, Arteon four-door coupe, Passat midsize sedan and Passat GT.“The all new model lineup is made up of sedans and SUVs, based on high customer demand in the market,” said Volkswagen Korea Managing Dir
April 18, 2018
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FCA Korea releases new Cherokee, maps out Jeep-centered strategy
Fiat Chrysler Automobiles Korea rolled out a face-lifted version of the Jeep Cherokee midsize sport utility vehicle for the first time in four years, in line with the starting point of its business strategy to focus on the Jeep SUV brand, the company said Tuesday.“We will focus all efforts on selling SUVs through Jeep. This year we will change 90 percent of our network to Jeep-exclusive showrooms” emphasized Pablo Rosso, president of FCA Korea, in a media event held at the first Jeep showroom in
April 17, 2018
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Jaguar rolls out E-Pace, heating up competition for compact SUVs
Sparking competition in the imported compact sport utility vehicle market, Jaguar Land Rover Korea, the local importer and distributor of the UK-based carmaker, released its first compact SUV E-Pace here on Monday. Jaguar highlighted that the five-seater four-wheel SUV preserves the dynamic design and driving performance of its flagship sports car F-Type.The leaders in the imported compact SUV market in Korea are the Mercedes-Benz GLA, Land Rover Evoque and BMW Mini Countryman. Volvo Korea is al
April 16, 2018
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GM steps up pressure, hints at withdrawing debt-equity swap
With the due date for GM Korea to reach a consensus with its labor union approaching on Friday, the GM headquarters and the government remain deadlocked over ways to deal with the local unit’s 3 trillion won ($2.7 billion) loan.US-based auto giant General Motors has turned down the government’s request for a selective capital reduction and instead intensified pressure, hinting at the possibility of withdrawing plans for a debt-equity swap. During a meeting with the state-run Korea Development Ba
April 15, 2018
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Hyundai Motor to invite 32 soccer fans to upcoming World Cup
Hyundai Motor, South Korea’s No. 1 automotive company, has launched a global campaign dubbed “Hyundai World Football Heritage” in celebration of the upcoming World Cup in Russia this summer, the company said Sunday.Soccer fans can win tickets to World Cup games by posting a picture or video introducing cheering cultures unique to their country on the official website, worldcup.hyundai.com, or on their social media accounts with the hashtag #myfootballheritage until May 13.As the official sponsor
April 15, 2018
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GM hints at withdrawing debt-for-equity swap plan for S. Korean unit
US automobile giant General Motors Co. hinted at possible willingness to withdraw the planned debt-for-equity swap for GM Korea Co., in an apparent bid to induce the state creditor to pump more cash into the financially-troubled South Korean unit, industry sources said Sunday.According to the sources, GM Executive Vice President Barry Engle met officials from the Korea Development Bank (KDB), the second-biggest shareholder, on Friday, and suggested a plan for the US headquarters to give loans to
April 15, 2018
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Tesla, Feds clash over release of fatal crash information
DETROIT -— Federal investigators say they have booted electric car maker Tesla Inc. from a group that’s investigating a fatal crash in California that involved an SUV using the company’s Autopilot system.The National Transportation Safety Board said it removed Tesla as a party to the investigation after the company prematurely made information public.“Tesla violated the party agreement by releasing investigative information before it was vetted and confirmed by the NTSB,” the agency said in a st
April 13, 2018
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Electrified Kona, Jaguar debut in Korea’s sizzling EV market
South Korean auto giant Hyundai Motor unveiled the world’s first electrified compact SUV on Thursday at an exhibition in Seoul to highlight the growing interests in electric vehicles here.Named Kona Electric, the latest green vehicle by Hyundai is certified by the Seoul government to drive 406 kilometers per charge, more than the 390 kilometers range the carmaker had expected when it started to receive preorders, the company said.The vehicle was debuting at the exhibition hosted by the Ministry
April 12, 2018
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Hyundai Mobis opens Korea’s first auto parts design center
Hyundai Mobis, the auto parts making unit of Hyundai Motor, opened Korea’s first auto parts design research center called the “Design Model Workshop” earlier this month to bolster design competitiveness, the company said Thursday.Equipped with cutting-edge facilities, such as a clay model maker and powder-based 3D printer, the company said it hopes to design auto parts that can harmonize with automobiles.“We believe Hyundai Mobis will gain an upper hand in competition against other global auto p
April 12, 2018
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GM Korea applies for foreign investment zone designation
The Korean unit of General Motors Co. has asked the government to designate its factory sites as foreign investment zones that would make the automaker eligible for up to seven years of special benefits that can help with its turnaround plan, the commerce ministry here said Thursday.The Ministry of Trade, Industry and Energy said GM Korea has submitted applications for factories in Bupyeong, west of Seoul, and in Changwon, on the nation's southeast. GM Korea made the request to the Korean govern
April 12, 2018
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Volvo Trucks Korea launches semi-large trucks, completes product portfolio
PYEONGTAEK, Gyeonggi Province-- Volvo Trucks Korea, the No. 1 commercial vehicle importer by sales, rolled out two models of the FE cargo series seeking to target customers searching for mid-to-large trucks as demand in the local logistics market continues to diversify, the company said Tuesday.The 9.5 ton 6x4 cargo designed to transport big volumes, and a smaller 5 ton 4x2 truck for delivering freight in the city are the first-ever semi-large size trucks introduced here.“We have launched the FE
April 10, 2018
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[Behind the Wheel] New S560, optimal choice for CEOs
At first sight, Mercedes-Benz’s new S560 seems to be too big and too old-fashioned. The long-bodied sedan requires drivers to pay careful attention when navigating the narrow streets and maze-like parking lots of Seoul. But don’t be disturbed. Once you get your hands on the mahogany wood grip of the steering wheel, this ponderous vehicle feels as light as a feather.The new S560 offers extraordinarily soft movement, but the engine still has power. The 469-horsepower vehicle boasts a 0-100 kilomet
April 9, 2018