Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Kia Motors in no hurry to build plant in India, chief says
The head of South Korea's No. 2 automaker Kia Motors Corp. said Wednesday that his company will eventually have to produce vehicles in India, one of the world's fastest growing markets, but that it was in no hurry to do so.Speaking to reporters at a Seoul hotel, Kia Motors CEO Park Han-woo acknowledged the company was looking at possible sites for a production facility in India."Because we are not shipping a single car to India, we will eventually have to go," Park said. He, however, said buildi
Aug. 17, 2016
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Auto firms make 50 won for every 1,000 won sold in 2015
The operating profit of automakers and their vendors in South Korea came in at a disappointing level last year with each firm making only about $0.05 for every $1 in sales, industry data showed Wednesday.According to the data compiled by a local research institute, combined sales of 1,079 South Korean auto companies, including auto parts makers, came to about 234.8 trillion won ($213.96 billion) in 2015.Their combined operating profit came to some 12.18 trillion won, less than 5.2 percent of the
Aug. 17, 2016
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Trade minister asks automakers to invest in renewable energy-fueled vehicles
South Korea's trade minister on Wednesday called on the local automobile industry to make a big investment in renewable energy-powered vehicles, such as hydrogen and electric cars, as a way to seek a new growth engine for Asia's fourth-largest economy, the trade ministry here said."The paradigm of the global car industry is changing rapidly as China has emerged as a leading country in the electric car sector," Trade Minister Joo Hyung-hwan said in a breakfast meeting in Seoul with the heads of f
Aug. 17, 2016
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Twizy may be launched in October
Renault Samsung’s mini electric car Twizy may be rolled out in South Korea as early as October, according to a local news report Monday. The compact electric car has a top speed of 80 kilometers per hour and is able to drive at a maximum of 100 kilometers on a single charge. Twizy (Renault Samsung)Twizy was not able to hit the road in the nation because of regulation issues on compact electric cars. In May, the Transport Ministry lifted these barriers amid rising demand for such cars and growing
Aug. 15, 2016
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Volkswagen Korea chief grilled for 2nd day
The South Korean prosecution once again summoned for questioning the chief of German automaker Volkswagen’s local operations on Friday, continuing its investigation of alleged irregularities committed by the automaker in the country.Johannes Thammer, the chief executive of Audi Volkswagen Korea, appeared at the Seoul Central District Prosecutors’ Office the day before to address allegations that the firm fabricated emission test results for vehicles sold in Korea.Johannes Thammer, CEO of Audi Vo
Aug. 12, 2016
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Hyundai Motor workers to again stage partial strike
Unionized workers at Hyundai Motor Co. were again set to stage a partial walkout Friday, further undermining the carmaker's output and sales.According to union leaders at Hyundai, some 15,000 workers will put down their tools for four hours from 11:30 a.m., while another 13,000 union members who belong to the company's second work shift will follow suit for four hours from 8:20 p.m.The partial strike will mark the third of its kind just this week, and the eighth since the union and management la
Aug. 12, 2016
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Hyundai, Kia log decent sales in European countries in July
South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their sales rise more than 8 percent in five European countries last month, driven by its diversified product portfolio, despite Britain's vote in late June to exit the European Union, industry sources said Thursday.The corporate duo sold a combined 50,069 units in the five key markets -- Germany, Britain, Italy, France and Spain -- last month, up 8.5 percent from a year earlier, according to the sources
Aug. 11, 2016
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Samsung leads local car infotainment industry, lags behind global competitors
South Korea's tech giant Samsung Electronics Co. has been ranked the top among its local peers in terms of infotainment technologies but still lags behind other global competitors that include foreign automakers, a report showed Wednesday.According to the report from U.S.-based market information firm IP Watchdog, the South Korean firm owned 3.9 percent of all infotainment-related patents registered in the U.S.The figure marks the largest share owned by any single South Korean company but is the
Aug. 10, 2016
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BMW Korea to recall nearly 12,000 cars in Korea for defective baby seat latch
BMW Korea, the local importer and distributor of the luxury German brand, will recall nearly 12,000 BMW cars sold here for a faulty baby seat latch that might break under repeated stress, the transportation ministry said Wednesday.The recall affects 11,968 BMW cars of 11 vehicle models, including 8,233 units of the BMW X3 xDrive20d crossover SUV, according to the Ministry of Land, Infrastructure and Transport.The car's ISOFIX baby seat latch may become detached from the car due to a welding defe
Aug. 10, 2016
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Chief of Audi Volkswagen Korea to be summoned this week
State prosecutors on Tuesday said the local chief of German carmaker Volkswagen will be summoned this week so he can be questioned on irregularities committed by the automaker in South Korea.The Seoul Central District Prosecutors' Office said Johannes Thammer will be summoned Thursday on charges of fabricating reports on noise level, fuel efficiency and emissions results to obtain approval from local authorities.Prosecutors said they will also grill Thammer, who has been in charge of the vehicle
Aug. 9, 2016
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Hyundai should boost EVs for China, analysts say
Korean automakers should push EV cars in China amid declining sales in the world’s largest car market, analysts said on Tuesday. The combined market share of Korean carmakers in China -- namely Hyundai Motor and Kia Motors -- declined to 7.3 percent in the first half of this year from 9 percent in 2014, while Chinese makers saw their share surge to more than 42 percent. Industry watchers said Korean automakers may further lose its share in the mid- to long-term in China if they fail to gain the
Aug. 9, 2016
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Korea begins development of test bed for self-driving cars
South Korea has launched its project to develop a new test bed for self-driving cars that will also include the development of new technologies to test autonomous cars, the government said Tuesday.The new test bed, called the K-city, will be built around the Korea Transportation Safety Authority's existing proving ground in Hwaseong, Gyeonggi Province, according to the Ministry of Land, Infrastructure and Transport.A ceremony marking the start of the 18.8 billion-won ($17 million) project was he
Aug. 9, 2016
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Car exports shrink for ninth consecutive month in July
South Korea's automobile exports retreated for nine months in a row in July due largely to contracted global demand and partial strikes in local carmakers, the government said Tuesday.Outbound shipments of vehicles came to 219,982 units last month, down 16.9 percent from 258,536 units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The July figure widened from a 13.9 percent on-year drop in June and a 12.4 percent fall in May. The figure was 19.7 percent in April,
Aug. 9, 2016
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Hyundai, Kia ranked in top tier in China's customer service index
South Korea's leading automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp.continued to receive high marks for their customer service in China this year, a survey showed Tuesday, while rapid advances by local competitors caused some concerns.In an annual survey conducted by U.S. marketing information service firm J.D. Power, Beijing Hyundai, a joint venture of Hyundai Motor, received the third highest mark of 786 points out of possible 1,000 for its customer services, down one n
Aug. 9, 2016
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Ticket Monster sells Jaguars on online mall
Ticket Monster, South Korea's major e-commerce site, said Monday it started sales of British luxury car brand Jaguar, marking the first time for new cars to be sold on a local online shopping mall. Ticket Monster put on sales of 20 Jaguar XE Portfolios and R-Sports on Monday morning, marking them down 7 million won ($6,317) from the regular retail prices to 48.1 million won and 46 million won, respectively. The two models were sold out in three hours, the company said. Ticket Monster said it cou
Aug. 9, 2016
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[Photo News] Graduation day
A senior education ministry official of the Malawian government presents a graduation certificate to a student who attended Green Light school operated by South Korean carmaker Kia Motors in Lilongwe, the capital of the southeastern African country, on Aug. 4. The graduation ceremony was held with Kia Motors officials attending during their week-long volunteer trip to the country last week. The carmaker operates Green Light projects to provide educational opportunities for children and their fam
Aug. 8, 2016
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Sales of OEM vehicles plunge in July
Vehicles produced in other countries and sold here by South Korea-based automakers dropped sharply from a year earlier last month amid advances by their local competitors, industry data showed Monday.In July, Renault Samsung Motors Co., the local unit of French automaker Renault S.A., sold 1,066 units of the QM3 crossover SUV, down 55.5 percent from the same month last year, according to the data.QM3 cars are imported to South Korea after being produced overseas through the so-called original eq
Aug. 8, 2016
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Volkswagen dealers bite the dust amid emission scandal
Inside a sprawling three-story Volkswagen showroom in the affluent Gangnam area of Seoul, just two cars - the CC 2.0 TSI and Touareg - were on display. These are the only two cars that were permitted to be sold here following a government sales ban and decertification move that affected a wide array of Volkswagen cars. Volkswagen showroom in Seoul. (Park Hyun-koo/The Investor)“We hardly have visitors these days,” one salesman at the dealership said, declining to be identified. “For now, these a
Aug. 7, 2016
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Hyundai‘s Tucson is best-selling new car in Germany
South Korean automaker Hyundai Motor’s compact SUV model, the Tucson, was the best-selling car among 20 new models released in Germany in the first half of this year, data showed Friday. According to the German Association of the Automotive Industry,13,454 Tucsons have been sold in Germany since its debut in January. The average monthly sales of the Tucson were 2,242 units over the period, far surpassing Ford‘s Mustang with 556 and Italian carmaker Fiat’s Tipo with 337, the association said. Amo
Aug. 5, 2016
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Hyundai chief calls for pioneering spirit
Hyundai Motor Group chairman Chung Mong-koo visited Kia Motors’ factory in Zilina, a city in northwestern Slovakia, during a visit to Europe, the company’s officials said Thursday. “Hyundai and Kia should overcome the uncertainty through global sales as we did grow by pioneering overseas markets,” Chung told employees at the factory.Hyundai Motor Group chairman Chung Mong-koo visits Kia Motors’ factory in Slovakia. (Hyundai Motor)The factory in Slovakia, which currently produces Kia Motor’s vehi
Aug. 4, 2016