Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Exports to US reach all-time high, widen gap with China
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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Hyundai Motor union seeks alliance with HHI union for strike
[THE INVESTOR] Hyundai Motor’s union is preparing to stage a strike, and to this end has sought an alliance with workers from Hyundai Heavy Industries.The carmaker’s union announced on July 5 that a vote will be held on July 13 to decide whether to take industrial action over failed wages negotiations. Hyundai Motor union is also hoping to form an alliance with HHI union. If successful, it will be the first time the unions of the two companies will go on strike simultaneously. According to the u
July 5, 2016
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EU-Korea FTA more beneficial for European automakers
[THE INVESTOR] European carmakers benefited more from the EU-Korea free trade agreement than their Korean counterparts, according to industry data on July 5. Data from the Korea Automobile Manufacturers Association showed that domestic car manufacturers exported 383,698 units of cars to EU countries in 2015, reflecting a 28.6 percent increase from the 298,263 units in 2010. The EU-Korea FTA went into effect in 2011. In 2010, a total of 59,242 European cars were sold in Korea according to the Kor
July 5, 2016
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[DECODED] Can Genesis survive in the luxury car market?
[DECODED] Hyundai Motor’s aspirations to separate its premium brand Genesis from the globally recognized budget Hyundai image may take much longer than the company expects, market experts said. The nation’s largest automaker plans to completely separate Genesis by 2020 with six models so that luxury-seeking consumers no longer associate it with the cheap and mass-produced Hyundai brand when buying Genesis. “More than 10 years is expected for Genesis to be recognized as a truly separate brand fro
July 5, 2016
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Hyundai Motor to operate self-driving taxis at research center
[THE INVESTOR] Hyundai Motor Group plans to operate self-driving taxis at its research center in Namyang, Gyeonggi Province, from later this month, a local newspaper reported on July 6. MoneyToday, citing unnamed company officials, reported that a total of five autonomous taxis, based on Hyundai’s fuel-cell sport utility vehicle Tucson ix and the Ioniq hybrid compact, will be operated. Hyundai’s Genesis sedans drive on autopilot mode at the carmaker’s Nevada research center. / Hyundai MotorThe N
July 5, 2016
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Hyundai’s domestic SUV sales top 2 million
[THE INVESTOR] The number of Hyundai Motor ’s sport utility vehicles sold in South Korea has broken the 2 million mark, industry data showed on July 5. Hyundai is the first South Korean carmaker to sell more than 2 million SUVs in the local market. According to industry data, a total of just under 2.012 million units of Hyundai SUVs have been sold here since 1991 when the carmaker introduced its first SUV -- the Galloper based on Mitsubishi Pajero. Apart from the Galloper, Hyundai has rolled ou
July 5, 2016
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Consumer agency to take action against VW Korea
[THE INVESTOR] With Volkswagen’s decision not to offer further compensation to the Korean consumers hit by the emission-rigging scandal, a local consumer rights agency is taking action on behalf of any VW owners who were hit by the carmaker’s false advertisements, local news reported on July 4. Korea Consumer Association announced that it will begin consumer redress activities for VW owners who were deceived by the carmaker’s false advertising that promoted the cars as low-emission and environme
July 4, 2016
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Lawmakers seek tougher penalties on carmakers manipulating fuel economy
[THE INVESTOR] South Korean lawmakers are seeking regulatory changes to force carmakers to give monetary compensation to consumers when they deliberately misrepresent the fuel economy of their vehicles. Rep. Kwon Sok-chang of the ruling Saenuri Party said on July 4 that he will propose a revised Motor Vehicle Management Act to include mandatory monetary compensation. At present, misrepresentation of a vehicle’s fuel economy is categorized as a “minor defect,” and consumers are not eligible for a
July 4, 2016
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Hyundai Sonata gets top marks from U.S. consumer reviewer
Hyundai Motor Co.'s midsize sedan, the Sonata, has received the best evaluation from a U.S. consumer magazine, beating those by Toyota Motor and other foreign rivals, a report showed Monday.Hyundai Sonata Hybrid SE clinched the top spot in terms of the best combination of fuel economy and acceleration in a test by Consumer Reports in the midsized car category.Hyundai Sonata Hybrid SE is listed as 39 miles per gallon while it can go from zero to 60 miles per hour in 8.2 seconds.Ford Fusion SE Hyb
July 4, 2016
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Malibu Hybrid misses low-pollution certification
[THE INVESTOR] GM Korea’s Malibu Hybrid has failed to obtain a low-pollution certification, making it ineligible for tax benefits on eco-friendly cars, government and industry sources.On July 3, GM Korea notified through its website that benefits for purchasing hybrid vehicles are not applied to the Malibu Hybrid. According to the Ministry of Environment, the Malibu Hybrid is excluded from the measure due to failing emission standards. MalibuAt 95 grams per kilometer, the vehicle meets carbon di
July 4, 2016
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Renault Samsung offers limited edition of QM3 Cannes Blue
Renault Samsung, a Korean arm of French automaker Renault, began to sell this month a special limited edition of QM3 Cannes Blue with a discount of up to 1 million won ($870) for the summer season, the company said Sunday. From July to August, the automaker will offer 500 units of QM3 Cannes Blue, the brand‘s third color revolution following the previous versions of Sonic Red and Chocolat Brown. QM3 Cannes Blue (Renault Samsung)The company said the QM3 Cannes Blue’s strong Cannes blue body and
July 3, 2016
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Hyundai dismisses chances of imminent EV dominance
A senior researcher at Hyundai Motor has said that it will take much longer for electric vehicles to become mainstream in the global auto market than industry expectations.Global institutions including the International Energy Agency recently predicted that eco-friendly cars would secure more than half the global vehicle market share by 2030. Hyundai Motor“The prediction is too optimistic. In order for EVs to become mainstream like smartphones are now, there should be at least more than 100 asse
July 3, 2016
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Hyundai Motor's Genesis top best car brand in Q2
Hyundai Motor Co.'s luxury car brand Genesis has become the most valuable car label in the second quarter in South Korea, a marketing firm said Sunday.According to the index released by Brand Stock Corp., Genesis rose 22 steps to finish at 24th place on the company's top 100 local and foreign brands in South Korea in the April-June period.Among car brands, Genesis ranked No. 1, relegating Hyundai's Grandeur, which was the previous title holder, to second place. The full-size sedan ranked 49th on
July 3, 2016
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Sales of hybrid cars in Korea soar in June
Sales of hybrid cars more than doubled last month in South Korea on the back of the popularity of new compact sports utility vehicle Niro produced by Kia Motors Corp., industry data showed Sunday.A total of 6,215 units of Korean-made hybrid cars were sold in June, up 140 percent from 2,617 a month earlier, according to the data.The June figure marked a monthly sales record, outnumbering the previous record of 6,061 units tallied in April.Kia Motors' Niro is spearheading the popularity, with 3,24
July 3, 2016
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Hyundai Motor keeps fourth spot in Brazil's auto market
SAO PAULO (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, stayed at No. 4 in Brazil's auto market in the first half of this year, according to Brazil's main internet portal.Hyundai sold a cumulative 95,965 units in Brazil during the January-June period, accounting for 10.1 percent of Brazil's auto market, said UOL, the main internet portal in the South American country.U.S. carmaker General Motors Co. took the first spot with a 16.6-percent market share, followed by Fiat Chrysler Aut
July 2, 2016
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End of tax cut casts shadow on H2 auto sales
[THE INVESTOR] The outlook for South Korea's automotive market in the second half of the year appears uncertain with the special tax cut ending as of July 1. The special consumption tax cut which was introduced to boost consumption ended on June 30. The government had cut the special consumption tax rate from 5 percent to 3.5 percent in August 2015 as a temporary measure. While the measure contributed to first half sales rise, its ending is expected to weigh down local carmakers in the second ha
July 1, 2016
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GM Korea domestic sales set record in June
[THE INVESTOR] GM Korea’s monthly domestic sales climbed to a record high in June aided by rising sales of the city car Spark and midsized sedan Malibu, the company announced on July 1. The company’s figures showed that domestic sales came in at 18,058 units in June, rising 47.6 percent compared to the same month last year. The figure is the highest since GM Korea was established in 2002. Sales of the Malibu sedan more than tripled from a year ago to come in at 6,310 units, while Spark sales inc
July 1, 2016
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Luxury imported cars stumped by tougher corporate vehicle rules
[THE INVESTOR] The sales of imported automobiles for corporate use has plunged this year, hamstringed by tougher regulations of corporate vehicles. Industry data showed on July 1 that the number of imported cars registered to corporations during the first five months of the year dropped 15.6 percent compared to the same period last year. The fall has been attributed to the regulation changes aimed at preventing corporate vehicles being used for personal purposes. From January to May, 33,071 impo
July 1, 2016
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Sales of Kia cars in Mexico more than triple in less than 1 year
Kia Motors Corp., South Korea's second-largest carmaker, said Thursday that sales of its vehicles more than tripled in Mexico in May from nearly a year ago.Kia said it sold 4,610 units in Mexico in May, compared with 1,499 units in July last year when the carmaker began to sell its vehicles there.The carmaker said it sold a combined 18,200 units in the first five months of this year, accounting for a 3.1-percent share in Mexico's auto market.Kia said it expects to sell about 50,000 units and boo
July 1, 2016
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Hyundai, Kia eye SUV expansion in US
[THE INVESTOR] Korea’s major automakers are set to strengthen their sport utility vehicle lineup in the US market, local news reported. Hyundai Motor and Kia Motors, which currently sell four SUV models sold in the US, are planning to double the number by 2020, an industry insider was cited in the report. Against the rising demand for SUVs in the US, sales of Hyundai’s Santa Fe and Tucson in May jumped by 88 percent and 90 percent on-year in the country, respectively, while sales of Kia’s Sorent
July 1, 2016
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Mando receives top European quality rating
[THE INVESTOR] South Korean auto parts maker Mando announced on June 30 that products manufactured at its plant in Poland were awarded the top quality rating by the European Foundation for Quality Management.Mando said that it is rare for EFQM to award the top rating in the first assessment, and this reflects the fact that there were no quality issues with the 1.6 million caliper brakes supplied to Volkswagen over the past year.Located in Walbrzych, Mando’s Polish operations began production in
June 30, 2016