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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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Korean won weakens amid heightened uncertainty
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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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GM Korea begins taking orders for Bolt EV before April launch
GM Korea Co., the South Korean unit of US automaker General Motors Co., on Friday began taking pre-orders for its new Bolt Electric Vehicle ahead of its scheduled local debut next month.The Bolt EV comes in four different colors and has a starting price of 47.79 million won ($42,325), but government incentives of up to 26 million won will bring the price down to less than 22 million won, making it one of the most affordable green cars now available, the company said in a press release. The Bolt
March 17, 2017
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Expo kicks off to discuss future of EVs
An annual gathering of carmakers, business leaders and experts on electric cars kicks off its six-day run in the nation’s southern resort island of Jeju on Friday, testing the future of carbon-free technology on the road.The fourth International Electric Vehicle Expo displays and discusses the technologies of pure electric vehicles. A total of 155 companies are participating in the event that takes place at the Yeomiji Botanic Garden of Jungmun Resort in Jeju, organizers said. Lee Kwang-guk, exe
March 16, 2017
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VW Korea promotes higher customer service through ‘We Care’ campaign
Volkswagen Korea has been promoting the “We Care” campaign since last month, offering superior customer services to its longtime customers to reinforce customer relations, the company said Thursday. The We Care campaign began on Feb. 20 with the initiative of providing care services that focuses on people first. These include enhancing customer relations with multiple digital communication and consulting platforms as well as matching professionally-trained service personnel with customers for hi
March 16, 2017
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Auto production rises on strong demand for eco-friendly, luxury cars abroad
South Korea's automobile production surged in February amid strong demand for eco-friendly and luxury vehicles both at home and abroad, government data showed Wednesday.Automobile output rose 9.8 percent to 336,032 units last month from a year earlier, according to statistics released by the Ministry of Trade, Industry and Energy.Exports jumped 5.3 percent to 201,757 units in February from the same period last year.The value of automobiles shipped abroad also climbed 9.6 percent to $3.28 billion
March 15, 2017
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Kumho Tire unveils premium tires with enhanced performance
Kumho Tire on Wednesday unveiled two premium tire products designed for sports utility and high-performance vehicles. It is the company’s first release of new products for passenger vehicles in three years.The Crugen HP71 is a high performance SUV tire designed for stable driving in cities, while Ecsta PS71 is designed to offer a safer ride for muscle cars, the company explained during the unveiling held at a seminar of branch owners in Daejeon. Kumho Tire CEO Lee Han-seob (right) poses at the l
March 15, 2017
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Tesla opens first showroom in Korea
Tesla Korea, the local distributor of Tesla cars, opened its first showroom in South Korea on Wednesday, offering a chance for local customers to see and experience its advanced electric vehicles.The first Tesla showroom opened at a shopping mall in Hanam, a city located just east of Seoul.The Tesla Model S 90D is on display at Tesla's Cheongdam showroom in Seoul. (Yonhap)All visitors can see firsthand the US carmaker's vehicle models, while those who make prior reservations will be given a chan
March 15, 2017
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Intel’s blockbuster $15.3 billion acquisition of Mobileye
US-based chipmaker Intel has agreed to purchase Mobileye, an Israeli tech company that develops vision-based driver assistance systems, for $15.3 billion in a bid to gain a foothold in the growing market of autonomous driving technology, the firm said Tuesday. The chipmaker announced Monday it will acquire Mobileye for $63.54 per share, a 34 percent premium to Mobileye’s closing price Friday.The blockbuster deal marks Israel’s biggest acquisition, and Intel’s second-largest after its $16.7 billi
March 14, 2017
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Tesla Korea opens first showroom Wednesday
Tesla will officially launch its operations in South Korea on Wednesday, opening its first showroom at the Starfield Hanam shopping complex in Hanam, Gyeonggi Province. While customers cannot actually purchase vehicles at the showroom, visitors can inspect a display model of the company’s S 90D luxury vehicle, which will be the first model introduced to the Korean market. Vehicles can only be purchased through the company’s website, which allows for the customization of each vehicle. Shortly fo
March 14, 2017
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Imported commercial vehicle sales reach 323 in Feb.
A total of 323 imported trucks and other commercial vehicles were sold here last month, marking a sharp drop from a month earlier, data showed Tuesday.The February tally marked a 25.4-percent plunge from 433 units sold in January, according to the data from the Korea Automobile Importers and Distributors Association. (Yonhap)No comparable data was available from the previous year as KAIDA began compiling such data at the beginning of this year.By brand, Volvo Trucks topped the list with 133 vehi
March 14, 2017
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SUV market seems saturated amid record sales in recent years
Sales of sports utility vehicles that rose sharply in South Korea over the past few years are showing signs of market saturation, industry data showed Tuesday.SUV sales surged to 454,669 units last year, up from 452,200 the previous year, according to figures from the Korea Automobile Manufacturers Association.The 2016 figure represents a pronounced increase from 243,906 in 2010.The number of vehicles sold last year accounts for 33.8 percent of total passenger cars sold that reached 1,343,379 un
March 14, 2017
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Maybach Korea’s Songdo project faces delay over scandal
A plan to build the world’s first business center from ultra-luxury German carmaker Maybach in Songdo, west of Seoul, is facing possible delays over a political scandal the company has denied any involvement in.Maybach Korea, a local office of Daimler Group, has been facing market speculations that the project may have been consulted with by a close friend to Choi Soon-sil, the woman at the center of the influence-peddling scandal that led to the impeachment of former President Park Geun-hye. An
March 13, 2017
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Hyundai Motor wins two iF Design Awards
Promotional image for Hyundai Motor’s home charging system for the Ioniq Electric. (Hyundai Motor Company) Hyundai Motor has won two product design awards at this year’s annual 2017 iF Design Awards ceremony for its new typeface, “Hyundai Sans,” and the Ioniq Electric vehicle’s home charging system, the company said Monday. Germany’s iF Design Awards competition is judged by a panel of some 60 international experts in the fields of design, industry and architecture. This year’s winners’ ceremo
March 13, 2017
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Toyota, Lexus offer three-week service discounts
Toyota’s fourth-generation smart hybrid Prius (Toyota Korea) Toyota Korea announced it will carry out a commemorative service campaign this month for all Toyota and Lexus vehicles in celebration of the cumulative global sales of hybrid vehicles surpassing 10 million units, the company said Monday. The two brands’ official dealer service centers will offer customers a 10 percent discount (15 percent for more than two selections) on service and inspections of main hybrid batteries, hybrid auxilia
March 13, 2017
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BMW appoints director for new strategic planning team
BMW Group Korea announced Monday its plans to establish a strategic planning team and the appointment of Choi Il-yong as its director. Choi has 20 years of experience working as a specialist in business development and strategic planning in the field of information technology, according to BMW. He is slated to take up the post on April 3. He formerly worked for Samsung SDI, IBM Korea and SK Energy. Choi Il-yong (Yonhap) The new strategic planning team is expected to take charge of corporate str
March 13, 2017
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BMW Korea takes reservations for BMW i3 94Ah
BMW Korea, the local branch of the German luxury carmaker, has started taking reservations for the upgraded electric car BMW i3 94Ah, the company’s Seoul office said Sunday. The company highlighted the enhanced driving distance of the electric vehicle of up to 200 kilometers on a full charge powered by a 33 kilowatt-hour, 94 ampere-hour lithium battery. The BMW i3 94Ah. (BMW Korea)Three colors -- protonic blue, fluid black and mineral grey -- have been added to the color palette, the company sai
March 12, 2017
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Renault Samsung raises prices without official notification: reports
Renault Samsung Motors, the South Korean unit of French automaker Renault S.A., carried out a price hike of up to 750,000 won ($653) across six models without officially notifying customers, according to local reports Sunday. A total of six models -- the SM3, SM5, SM6, SM7, QM3 and QM6 -- underwent a price increase in line with the release of 2017 model-year vehicles, Yonhap News Agency reported. The firm increased the prices of the popular LE and RE trims of its flagship midsize sedan SM6 by up
March 12, 2017
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Auto output hits 7-year low this year
South Korea's vehicle production hit a seven-year low in the first two months of the year due to flagging demand in emerging markets, data showed Friday, sparking concerns over the industry's performance for 2017.The country's vehicle output reached 634,073 units in the January-February period, down 3 percent from the previous year and the lowest level since 2010, according to the data by the Korea Automobile Manufacturers Association.This photo, taken on Jan. 2, 2017, shows cars waiting to be l
March 10, 2017
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Hyundai Mobis feels the impact of THAAD
Hyundai Mobis, Korea’s biggest auto parts maker, alongside other small and mid-size auto parts companies, is facing the impact of THAAD-related tensions, industry figures showed Thursday.According to the Korea Stock Exchange, Hyundai Mobis closed at 240,500 won ($208) per share Wednesday, down 1.43 percent from a day earlier. The firm’s value dropped some 5 percent this week, following news that China has amplified pressure on Korean businesses that depend heavily on Chinese consumers and those
March 9, 2017
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Transport Ministry recalls 97,038 vehicles from 4 carmakers
The Ministry of Land, Infrastructure and Transport has ordered a recall of 97,038 vehicles across 17 models from Renault Samsung Motors, Jaguar Land Rover Korea, Forza Motors Korea and Mercedes-Benz Korea. According to the ministry’s press release Thursday, of the overall total, 94,069 Renault Samsung SM6 sedans are being recalled. The Transport Ministry also announced it plans to charge Renault Samsung Motors a fine of roughly 611 million won ($528,000) for violating safety standards.Renault S
March 9, 2017
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Hyundai, Kia aiming to up market share with new models
South Korea's top carmaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are striving to boost their domestic market share with new models after suffering a setback last year due to underdogs' strong performances, industry sources said Thursday.The combined market share of Hyundai and Kia, the flagships of Hyundai Motor Group, ticked down to 65.4 percent in 2016 from 67.7 percent the previous year as their three smaller rivals performed better than expected.The downturn continued
March 9, 2017