Most Popular
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40 flights canceled on Jeju Island due to bad weather
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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Govt. asks hospitals to mitigate impact of medical professors' absence
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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S. Korea's working-age population to dip nearly 10m by 2044 amid low births
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Doggy patrol team on the move to protect their cities
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Sales of eco-friendly cars top 100,000 in Q1 in S. Korea
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[Herald Interview] Director of 'Goodbye Earth' aimed to ask how we would face apocalypse
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Korea posts 1st deficit for diesel vehicle trade
Korea posted the first deficit ever for its diesel car trade last year as imports expanded sharply despite the fake emission scandal involving some popular models of Volkswagen, industry data showed Monday.According to the data by the Korean Automobile Importers and Distributors Association, the country's trade deficit for diesel passenger cars came to $1.42 billion last year, a turnaround from a surplus of about $870 million a year earlier. This marked the first ever deficit that the country ha
May 2, 2016
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Ssangyong Motor's April sales up 7.4%
Ssangyong Motor, the local unit of Indian auto giant Mahindra & Mahindra, said Monday that its April sales grew 7.4 percent on-year driven mostly by strong domestic demand.Ssangyong Motor sold 13,462 units last month, compared to 12,531 units a year earlier, the company said in a press release. The figure does not include complete knockdown kits that are assembled abroad. Ssangyong Tivoli Air (Yonhap)Domestic sales jumped 12.3 percent to 9,133 units over the cited period, helped by the continued
May 2, 2016
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Hyundai’s upturn at 2016 WRC raises expectations for ‘N’ brand
Not many people are aware of the progress Hyundai Motor has made in motor sports in recent years. This is part of the reason why the car-loving community here was surprised to hear that a car racing team run by Germany-based Hyundai Motorsport topped the fourth round of the 2016 FIA World Rally Championship in Argentina last month. The WRC, which began in 1973, is a world-famous motor sports series like Formula One. One big difference being that vehicles in the competition are mass-produced cars
May 1, 2016
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[Photo News] GM Korea ties with SOCAR
GM Korea said Thursday it formed a partnership with SOCAR, a car-sharing service company, as part of its marketing efforts. With the partnership, the carmaker will provide more than 700 GM cars including its Chevrolet Spark minicars to SOCAR. (GM Korea)
May 1, 2016
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[Photo News] Hankook Tire sponsors Doosan baseball team
Hankook Tire, Korea’s largest tire maker, is sponsoring Doosan Bears, the 2015 Korean league champion, for the 2016 season. Through the sponsorship, the company aims to promote its brand as the top tire manufacturer in Korea. Doosan Bears’ players will wear uniforms with Hankook Tire logos, while Jamsil Stadium, Doosan’s home ground, will display Hankook Tire advertisements. (Hankook Tire)
May 1, 2016
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[Photo News] Hyundai Motor launches Avante Sport
Hyundai Motor launches the sport version of its new Avante as part of efforts to strengthen its best-selling compact sedan product lineup. The new Avante Sport, powered by a 1.6-liter T-GDi four-cylinder engine, produces 201 horsepower. Besides its seven-speed DCT dual-clutch transmission, the variant also looks sportier. Prices start from 21 million won ($18,412). (Hyundai Motor)
May 1, 2016
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BMW ahead of rivals in CSR reputation
When it comes to corporate social responsibility, German luxury carmaker BMW outshines other foreign automakers in Korea in terms of donations and the quality of its CSR projects, according to companies' regulatory filings over the past five years.The company data showed cumulative donations of the carmaker between 2011 and 2015 reached up to 18.3 billion won ($16 million), which is higher than the 4.5 billion won of its arch rival Mercedes-Benz over the same period. Torben Karasek, chief financ
May 1, 2016
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Chinese less loyal to Hyundai cars: report
Chinese consumers are less loyal to Hyundai cars than most other auto brands, according to the latest report of U.S. consulting firm McKinsey & Company.A survey on 3,500 Chinese consumers in March showed that 43 percent of those who owned a Korean brand car wanted to switch to a more upscale brand. That was the highest percentage following those owning French cars. (Yonhap)McKinsey said that those with German cars were the most loyal to the brands they had. “Korean brands are not yet viewed as
April 29, 2016
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Vice chairman Chung on mission to transform Hyundai into mobility company
This is the second of the two-part stories on what drove Hyundai Motor Group toward its 100-million-unit milestone in cumulative car sales. -- Ed.Hyundai Motor vice chairman Chung Eui-sun, who leads projects for future growth of the carmaker, has the busiest year ever as the automotive industry faces a sea change with digital disruption. A recent report by McKinsey & Company forecast technological advances in areas such as electrification, vehicle connectivity and self-driving cars will change t
April 28, 2016
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GM Korea gets over 2,000 preorders for all-new Malibu
GM Korea, the local unit of U.S. carmaker General Motors, said Thursday that it has received more than 2,000 preorders for the all-new Malibu midsize sedan in just a day after its official debut here.The figure is much larger than other competing models whose preorders usually stand at a daily average of around 400, experts say. GM Korea Malibu midsize sedan (Yonhap)During an unveiling event on Wednesday, when it started receiving preorders, GM Korea did not elaborate on any sales target for the
April 28, 2016
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GM seeks to be game changer with all-new Malibu
GM Korea, the Korean unit of General Motors, unveiled its all-new Malibu on Wednesday, with the goal of becoming a game changer in the midsize sedan market. Hyundai and Kia have dominated the sedan market in Korea, but the newly-launched SM6 of Renault Samsung is changing the landscape of the market competition. During the launch at Gocheok Sky Dome, the automaker expressed confidence in overtaking the sedans of three local rivals -- Hyundai’s Sonata, Renault Samsung’s SM6 and Kia Motors’ K5. G
April 27, 2016
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Hyundai denies rumor on sale of credit card unit
Hyundai Motor Group officially dismissed rumors Tuesday that it is seeking to sell its credit card affiliate. In a conference call for the first quarter performance of Hyundai Motor, Choi Byung-chul, chief financial official of the automaker, made it clear that there is no plan to sell any stake in Hyundai Card. Hyundai Motor currently holds a 37 percent stake in the group’s credit card business unit. The rumors of a sale gained ground as the group was reluctant to buy out General Electric Capit
April 27, 2016
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Kia’s operating profit jumps 24% in Q1
In contrast with Hyundai Motor, its sister automaker Kia Motors saw its operating profit jump 23.8 percent to 633.6 billion won ($554 million) in the first quarter from the same period last year, boosted by sales in its sport utility vehicle lineup, according to the company Wednesday. Hyundai Motor’s operating profit fell 15.5 percent to 1.34 trillion won on-year in the first quarter, hit by sales drop in China. Kia’s net profit also increased 4.6 percent to 944.6 billion won during the January-
April 27, 2016
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Kia Motors Q1 net grows 4.6%
Kia Motors, Korea's second-largest automaker, said Wednesday that its first-quarter net profit increased 4.6 percent from a year earlier, driven by strong demand for its SUVs and newly-launched models.Net income came to 944.6 billion won ($822.7 million) during the January-March period compared with a profit of 903.2 billion won a year earlier, the company said in a regulatory filing. (Yonhap)Operating income also jumped 23.8 percent on-year to 633.6 billion won and sales rose 13.2 percent to 12
April 27, 2016
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Hyundai Motor not interest in buying Hyundai Merchant
Hyundai Motor Group on Tuesday categorically denied market speculation that it may be interested in buying Hyundai Merchant Marine and Hyundai Heavy Industries, to put the two ailing firms under its umbrella. The automaker has been mentioned in the market as a potential candidate to take over the debt-ridden firms. “The company plans to concentrate on having a competitive edge in the auto sector. We have nothing to do with and have no interest in the shipbuilding and shipping areas,” Yonhap News
April 26, 2016
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Chung leads Hyundai’s success saga in auto
For Hyundai Motor Group, the month of April has been memorable and pride-filled, with the world’s fifth-largest automaker reaching a milestone in car sales. The combined cumulative sales of the group’s two auto units -- Hyundai Motor and its smaller affiliate Kia Motors -- reached over 100 million units on April 16. It took 54 years for the group to mark the achievement since it began producing cars in 1962. “Hyundai Motor Group is not the first to reach the milestone in the auto industry, but i
April 26, 2016
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Net profit of Hyundai Motor drops 10.8% in Q1
Hyundai Motor, the nation’s top automaker, said Tuesday that its first-quarter net profit dropped 10.8 percent from a year earlier, affected by weak demand from emerging markets. In a regulatory filing, the automaker reported a net profit of 1.77 trillion won ($1.54 billion) for the January-March period, down from a profit of 1.98 trillion won tallied a year earlier. Hyundai Motor Group headquarters in Seoul (Yonhap)Operating profit also plunged 15.5 percent on-year to 1.34 trillion won over the
April 26, 2016
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BMW joins SOCAR’s car-sharing lineup
SOCAR, a local car-sharing service start-up, said Tuesday that BMW’s luxury vehicles are joining its car lineup to meet the growing demand for high-end models among users. The premium lineup, named “TRIGGER,” will include BMW’s 520d sedan and X3 sport utility vehicle models to start services from early May. SOCAR’s premium lineup image“There have been constant requests for premium and bigger cars from customers,” said Shin Seung-ho, SOCAR’s marketing director. “We will continue marketing activi
April 26, 2016
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Renault Samsung CEO confident of meeting SM6 sales target this year
The chief executive of Renault Samsung Motors, the Korean unit of French automaker Renault S.A., said he expects the company will be able to meet its sales target for the SM6 sedan this year. Renault Samsung unveiled the SM6, a face-lifted version of Renault's Talisman sedan, in January in the Korean market with the aim of selling 50,000 units this year. Renault Samsung CEO Park Dong-hoon (Yonhap)"At first, we aimed to deliver 20,000 units in the first three months. For
April 26, 2016
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Volkswagen to recall 2,473 Touaregs for brake problems
Audi Volkswagen Korea, the local unit of the German carmaker Volkswagen, will recall 2,473 Touareg sports utility vehicles for a defect in their brake pedals, the Korean transport ministry said Tuesday.A clip may have become dislodged from the pedal bracket, which could lead to a malfunction in the braking system while driving, according to the Ministry of Land, Infrastructure and Transport.The problem has been detected in 2,473 Touareg TDI SUVs produced between Feb. 10, 2011 and Jan. 19, 2016.P
April 26, 2016