Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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GM Korea union to strike on July 22
[THE INVESTOR] GM Korea’s labor union will stage a partial strike on July 22 under directions from the Korean Metal Workers’ Union. The KMWU is a subgroup of the hardline umbrella union Korean Confederation of Trade Unions. The GM Korea branch of the KMWU said on July 20 that it will set up a committee for strikes, and that a four-hour strike will be staged on July 22 at the company’s plant in Incheon. The striking union members will then join the KMWU rally outside the National Assembly. GM Kor
July 20, 2016
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FTC plans to file suit, fine Volkswagen Korea
[THE INVESTOR] South Korea’s antitrust agency has decided to press criminal charges against the former and current executives of Volkswagen Korea for deceiving customers with false advertisements in the German automaker’s emission rigging scandal. It also plans to fine the automaker a maximum of 88 billion won (US$ 77.02 million). The Fair Trade Commission has sent the assessment report to VW Korea, stating it has decided to sue 10 executives, including Johannes Tamer, the CEO of Audi Volkswagen
July 20, 2016
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Hyundai Genesis G90 to top 20,000 units
[THE INVESTOR] Hyundai Motor says it is close to selling 20,000 units of the flagship sedan G90 from Genesis, the newly launched luxury brand by the South Korean auto giant, Herald Business reported on July 19. According to newspaper, a total of 17,069 units of G90 -- which is sold as EQ900 in South Korea -- were sold as of June 30 since its debut last December. With an average monthly count of 3,000 units, the automaker expects to reach the 20,000 milestone by July, five months earlier than the
July 19, 2016
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Hyundai dealers in China demand compensation
[THE INVESTOR] Dealers of imported Hyundai Motor vehicles in China are seeking compensation from the South Korean carmaker over alleged unfair treatment, China Daily reported on July 18. According to the newspaper, some of the 41 car dealers selling Hyundai Motor vehicles shipped from South Korea to China established a working group to “safeguard their rights” earlier this month.Hyundai Motor’s vehicles are marketed through two channels in China. Vehicles produced by Beijing Hyundai and fully as
July 19, 2016
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SUV, minivan sales set new H1 record
[THE INVESTOR] South Korean carmakers’ SUV and multipurpose vehicle sales hit a new first-half record this year aided by new models, and the tax cut on new purchases, industry data showed on July 19.According to industry figures, 271,523 units of SUVs and multipurpose vehicles produced by local carmakers were sold here during the first six months of the year. Compared to the same period last year, the figure is an increase of 8.7 percent. Kia Motors SorentoThis year’s figure is the highest on re
July 19, 2016
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Korean gov’t to lower cost of EV recharging, develop electric truck
[THE INVESTOR] South Korea will halve the cost of recharging electric cars, and increase investment in related fields as part of its EV development strategy.Under the Ministry of Trade, Industry and Energy’s plans revealed on July 18, the government will also launch R&D programs aimed at doubling EVs’ driving range, and to develop electricity powered small truck with 1 metric ton load capacity. Hyundai Motor's IONIQ“(The government) will speed up providing support in R&D, incentives and other me
July 18, 2016
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Hyundai Motor chief says Genesis, eco-friendly cars key for survival
Hyundai Motor Group’s chairman Chung Mong-koo urged the carmaker’s global office heads to seek a breakthrough in the sluggish markets by strengthening the brand value of its luxury sedan and also by taking a lead in the green car segment.“The company should raise its brand profile in the global luxury car market through the successful launch of Genesis G80 and G90 in the U.S. market,” the chairman told the company’s 60 global office heads at its biannual meeting held on Monday. Hyundai Motor Gro
July 18, 2016
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[Photo News] New Cadillac CT6
General Motors Korea’s chief James Kim (left) poses with GM’s new flagship sedan Cadillac CT6 at its launch event at the Grand InterContinental Seoul on Monday. The price of the sedan, which is slated to go on sale in August, starts from 78.8 million won ($69,000) for the premium model and 95.8 million won for the platinum model. (GM Korea)
July 18, 2016
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Hyundai Motor chief says Genesis, eco-friendly cars key for survival
[THE INVESTOR] Hyundai Motor Group chairman Chung Mong-koo is scheduled to hold a meeting with some 60 heads of overseas operations at the Seoul headquarters on July 18 to discuss ways to elevate the carmaker’s slowing sales. The meeting, held twice a year, comes after the nation’s largest carmaker -- the fifth globally -- suffered a 2.4 percent decline in sales in the first half of this year compared to a year ago. Hyundai Motor Group’s chairman Chung Mong-kooIn the January-June period, Hyund
July 18, 2016
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Hyundai Motor Group’s BRIC output tops 20 million
[THE INVESTOR] Hyundai Motor Group’s accumulated output at its plants located in BRIC nations broke the 20-million mark this year, the carmaker said on July 18.According to the conglomerate, the combined accumulated output at its 12 plants in Brazil, Russia, India and China came to 20.64 million units at the end of the first half of the year. Hyundai Motor Group headquarter in southern SeoulOf the overseas plants, Hyundai Motor and Kia Motors’ plants in China accounted for the largest proportion
July 18, 2016
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Hyundai’s Ioniq EV offers pleasant drive
Amid the growing popularity of hybrid cars among environmentally conscious drivers, Hyundai Motor has gone one step further with the pure electric car Ioniq Electric for those who want a more eco friendly option. The nation’s largest automaker invited the press on Thursday to get behind the wheel, following a driving course based on the concept that an EV driver in Seoul traverses the city from east to west on diverse road conditions such as traffic jams and highways. Ioniq Electric (Hyundai Mot
July 17, 2016
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New Korando Sports presents economical option for campers
[Behind The Wheel] The SUV fad in South Korea is not over yet. Fueled by the popularity of outdoor activities – mainly camping -- sales of such vehicles have grown steadily over the years. However, there have been limited local choices, which often leads to consumers going for high-end foreign vehicles offered at high prices. South Korea’s fourth-largest carmaker Ssangyong Motor, recently rolled out a pickup that it touts as an alternative to an SUV – the Korando Sports 2.2. It is not really an
July 17, 2016
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Hyundai-Kia's EU market share inches up in H1
[THE INVESTOR] Hyundai Motor Group’s market share in the European Union inched up in the first half of the year aided by faster-than average increase in sales, industry data showed on July 15. According to the European Automobile Manufacturers Association, Hyundai Motor and Kia Motors’ first-half sales outpaced the market’s overall growth, and their combined market share came in at 6.1 percent. Hyundai Motor’s market share was 3.2 percent, and that of Kia Motors’ 2.9 percent. In comparison, Kia
July 15, 2016
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Hyundai, Kia see first-half sales in Europe up 12 percent
Hyundai Motor Co. and its smaller affiliate Kia Motors saw their sales in Europe in the first half jump over 12 percent on-year, with their market share exceeding 6 percent, industry data showed Thursday.The two South Korean carmakers sold a combined 491,171 units in Europe in the January-June period, up 12.3 percent from a year earlier, according to the data compiled by the European Automobile Manufacturers' Association.Hyundai Motor sold 261,586 units, up 10.2 percent from a year earlier, whil
July 15, 2016
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GM Korea’s Trax exports exceed 800,000 units
[THE INVESTOR] GM Korea said on July 15 that more than 800,000 units of its compact sport utility vehicle Trax have been exported since 2012. The Trax, which shares the same platform with the Opel Mokka, topped the list of South Korea’s exported car models with 12,542 unit sales in the first half of this year. Its accumulative number reached 804,977 vehicles globally. The 2016 Chevrolet TraxThe car’s annual exports have continued to grow, with 42,090 in 2012, 193,764 in 2013, 222,440 in 2014 and
July 15, 2016
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Hyundai's i30 hatchback becomes Australia's best-seller
Hyundai Motor Co.'s i30 hatchback became Australia's top-selling vehicle in the first six months, data showed Friday.The data compiled by Australia's Federal Chamber of Automotive Industries showed that South Korea's top automaker sold 21,171 units of its i30 hatchback in Australia in the January-June period, up 45 percent from a year earlier.Toyota Motor's Hilux pickup truck took the second place, followed by the Toyota Corolla and the Mazda 3.Hyundai Motor sold a combined 54,350 units in the f
July 15, 2016
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Samsung renews automotive push with BYD investment
[THE INVESTOR] Samsung Electronics is renewing its automotive push with its latest decision to acquire sizeable shares in China’s largest electric vehicle manufacturer BYD. The company confirmed the deal on July 15 but declined to reveal the specific size of the investment. Earlier in the day, a local newspaper reported that Samsung will invest 3 billion yuan (US$448 million), about 2 percent stake in the Chinese company. BYD is the world’s largest electric bus maker“The latest investment aims t
July 15, 2016
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Volkswagen has no plans to exit Korean market
[THE INVESTOR] Volkswagen Korea said it does not intend to abandon the Korean market amid growing speculation that the automaker could be forced out over the emission scandal. “I apologize for causing trouble for our partner dealers and customers,” Tomas Kuel, CEO of VW Korea said in a letter sent out to the dealers on July 14. “Although we are in a difficult situation, we will keep a strong foothold in the Korean market and pursue future plans.”He stressed that the Korean market is very importa
July 15, 2016
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Prosecutors seek to question VW execs in Germany
[THE INVESTOR] Prosecutors have requested the former chief of Audi Korea Trevor Hill and executives of Volkswagen headquarters in Germany to be present for questioning on their involvement in the widening probe into the German carmaker’s cheating emission scandal. Seoul Central District Prosecutors’ Office on July 14 said it has sent a request to the seven executives, including Hill, through the lawyer of Audi Volkswagen Korea on July 11. Trevor Hill, former chief of Audi Korea / The Investor“We
July 14, 2016
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Hyundai Motor chief rules out plant expansion in Korea
[THE INVESTOR] Hyundai Motor president Chung Jin-haeng on July 14 made it clear that the nation’s largest carmaker has no immediate plan to expand its production line in Korea. “Considering the investment situation in Korea and overseas, there is no room for expansion here,” he told reporters after a business meeting. Hyundai Motor president Chung Jin-haeng(left) / The Investor(Park Hae-mook)The Gwangju City government requested Kia Motors, Hyundai’s smaller affiliate, to elevate its production
July 14, 2016