Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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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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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Complaint filed against Benz Korea for wrong car specification
The Korean transport ministry said Tuesday that it has filed a complaint against Mercedes-Benz Korea for selling cars with wrong specifications.The local unit of the German car brand sold 98 units of the S350d series sedan with a nine-speed automatic transmission since Jan, 27, 2016, but the vehicles were labeled as having a seven-speed transmission, according to the Ministry of Land, Infrastructure and Transport.The company sold upgraded models of S350d sedans in January but missed reporting th
March 29, 2016
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Card-based spending jumped 8.8% in 2015
Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday.The card-based expenditure reached 667.1 trillion won ($572 million) in 2015, up from 613.2 trillion won the previous year. A 16 percent increase in debit, or check, card spending outweighed a 7.1 percent rise in credit card spending last year, the Financial Supervisory Servic
March 29, 2016
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Hyundai Motor promotes investment roadmap to U.S. lawmakers
Hyundai Motor Group chairman Chung Mong-koo and other high-ranking officials presented the firm’s investment and research & development roadmaps for future mobility to a visiting U.S. congressional delegation, the Korean automotive giant said in a statement Monday. The five-member delegation led by Sen. Deb Fischer visited the Namyang R&D Center of Hyundai Motor Group, the heart of the Korean auto giant’s new car design and development. Other members included Sen.Thad Cochran, Sen. John Barrasso
March 28, 2016
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Kia Motors' K7 sales top 25,000 units
Kia Motors's all-new K7 sedan has been receiving quite a strong market response with its cumulative sales exceeding 25,000 units since its debut earlier this year, industry data showed Monday.Since its debut in mid-January, the cumulative contrasts, including preorders for the second-generation K7, came to over 25,000 units as of Friday, according to the data. At this pace, the figure is expected to reach around 28,000 units by end-March. KIA K7 sedan (Yonhap)The K7 emerged as the best-selling m
March 28, 2016
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GM Korea's Impala sales top 10,000 units in 6 months
GM Korea, the local unit of U.S. carmaker General Motors, said Monday that it has sold more than 10,000 units of the Impala here in the six-month period since its debut last year.From its launch in September until January, the Impala's cumulative sales stood at 9,719 units. Then, in the middle of last month, they exceeded the 10,000 mark, according to the company. GM Korea Impala (Yonhap)GM Korea unveiled the Impala with an aim to take over Hyundai Motor's Grandeur, the leader in the large-size
March 28, 2016
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[Photo News] BMW-SNU Partnership
BMW-SNU PARTNERSHIP -- BMW Korea CEO Kim Hyo-joon (right) shakes hands with Lee Kun-woo, dean of the engineering college at Seoul National University, after signing an agreement to work together on driverless technology and to provide internships to college students in a ceremony at the univeristy in Seoul on Friday. (BMW Korea)
March 27, 2016
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[Photo News] Genesis sports sedan
GENESIS SPORTS SEDAN -- Hyundai Motor unveiled the “New York” concept of Genesis at the New York International Auto Show on Wednesday. The hybrid sports sedan concept of the automaker’s luxury brand with 245 horsepower has 2.0-liter hybrid drive system coupled to an eight-speed automatic transmission. (Hyundai Motor)
March 27, 2016
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Hankook looks beyond tire business
INCHEON/SEOUL -- For a global tire-maker supplying its high-end products to global luxury carmakers, including Mercedes-Benz and BMW, for sure, the next target will be performance-driven super car brands like Ferrari.Seoul-based Hankook Tire, the world’s seventh largest tire manufacturer in terms of sales follows the growth formula in the industry by supplying its ultra-high performance tires and winter tires to BMW’s new 7-series sedans from this year. The Korean tire-maker has also supplied it
March 27, 2016
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Renault Samsung to target niche market
The new head of Renault Samsung Motors vowed to focus on niche markets, such as compact sports utility vehicles this year, rather than jumping into direct competition with local giants.“We should be in a different (business) position from other rivals in the local market instead of playing on the playground built by Hyundai Motor,” said Park Dong-hoon, who took office last week as the new chief of the French carmaker Renault’s Korean unit.Renault Samsung's new chief executive Park Dong-hoon (Ren
March 27, 2016
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Hyundai aims to sell 250,000 units of new Elantra in China
South Korea’s top automaker Hyundai Motor rolled out its new mid-compact car Elantra in the Chinese market, setting a goal of selling 250,000 units this year. Naming the new car Lingdong for Chinese consumers, the company unveiled the vehicle at the Shanghai New International Expo Center on Friday and began selling it on the day. Hyundai Motor said it aims to sell more than 250,000 units of its new mid-compact in the nation this year, targeting Chinese customers in their late 20s and early 30s.C
March 27, 2016
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GS Retail to start EV charging services
GS Retail, the retail unit of GS Group, said Friday it will operate charging stations for electric vehicles through its nationwide network of convenience store chains. As part of its partnership with Korea Electric Vehicle Charging Service, the company also plans to diversify related services in the near future. GS Retail convenience store division representative Cho Yoon-sung (left) and Korea Electric Vehicle Charging Service CEO Park Kyu-ho pose after signing a memorandum of understanding for
March 25, 2016
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BMW Korea to open 2nd parts distribution center in Anseong
BMW Korea said it will open a 130 billion won ($110 million) worth parts distribution center in Anseong, Gyeonggi Province, to more smoothly supply parts to BMW, Mini and Motorrad service centers here. The new facility is expected to be three times bigger than the first center BMW Korea operates in Incheon, Gyeonggi Province. BMW Korea holds a ground-breaking ceremony for its second parts distribution center in Anseong, Gyeonggi Province, Tuesday. (BMW Korea)The Korean unit of the German luxury
March 24, 2016
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[Photo News] FCA rolls out new compact SUV
FCA ROLLS OUT NEW COMPACT SUV -- FCA Korea rolled out a small five-passenger SUV Fiat 500X in Seoul on Thursday. The new SUV is 4.2 meters long, 1.8 meters wide and 1.6 meters high. Its price tag starts from 29.9 million won ($25,700). (FCA Korea)
March 24, 2016
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Mahindra & Mahindra aims to double Ssangyong sales by 2021
Ssangyong Motor owner Mahindra & Mahindra said Ssangyong would invest 1 trillion won ($862 million) over the next five years in aims to double its sales.In 2015, Ssangyong sold 145,000 cars, mainly thanks to the success of its latest Tivoli SUV that was released in January that year.Pawan Goenka, an executive director at Mahindra, said by 2021, the Indian conglomerate hopes to increase the figure to 300,000 units. Mahindra & Mahindra executive director Pawan Goenka. (Mahindra & Mahindra)“We pla
March 23, 2016
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Toyota drives hybrid car sales push with new Prius
Top Japanese automaker Toyota will push for sales of its hybrids lineup with the launch of the all-new Prius hybrid, setting a goal of lifting the proportion of hybrid car sales to 50 percent from its current 32 percent in Korea, the carmaker said Monday. TOYOTA PRESENTS FUTURE OF HYBRID WITH NEW PRIUS-- Toyota Korea CEO Akihisa Yoshida (right) poses next to the fourth-generation Prius hybrid at its launch event at Westin Chosun Hotel in Seoul on Tuesday. (Toyota Korea)While launching the four
March 22, 2016
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Hyundai Merchant Marine signs debt settlement agreement with creditors
Hyundai Merchant Marine, which is facing a liquidity crunch, signed a debt settlement agreement with bank creditors on Monday. The move came after Hyundai Motor Group denied rumors that it might seek a takeover bid to save the faltering shipper via its logistics arm Hyundai Glovis. HMM is a key affiliate of Hyundai Group and so has been categorized as a member of the pan-Hyundai empire. “It is true that the group was invited to a takeover bid for the shipper, but the group has no interest in the
March 21, 2016
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GM Korea releases new SUV Captiva
GM Korea, the local unit of U.S. automaker General Motors, launched the new 2016 Chevrolet Captiva SUV in Korea on Monday. The new Captiva is the latest version of the carmaker’s crossover SUV, encapsulating Chevrolet’s family look and performance.GM Korea’s Chevrolet Captiva SUV (GM Korea)Company CEO James Kim said, “I believe the new Captiva will significantly help the Chevrolet brand to increase its sales volume in the SUV segment, which is now the most competitive sector in the local auto ma
March 21, 2016
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[EV Expo] Nissan to pan EV sales with entry Leaf model
Nissan Korea launched the entry-level model of its flagship electric car Leaf at the 3rd International EV Expo on Jejudo Island on Friday in an effort to raise its domestic market share.The Leaf S is expected to have a price tag of 26.9 million won ($23,140) after government subsidies of 19 million won.“Together with the launch of the entry model, the company has cut the price of existing high-end Leaf SL model. In addition, the firm expanded ties with local partners to enhance the EV sales and
March 20, 2016
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Hyundai Motor jumps on AI bandwagon
The artificial intelligence craze generated by the Go match between Korean champion Lee Se-dol and Google’s AI software AlphaGo has spread to the automobile industry. Competition is heating up, with not only global automakers but also tech giants like Google and Apple rushing to gain the upper hand in commercializing self-driving cars.Hyundai Motor, the world’s fifth automaker in terms of production, is no exception. It is stepping up its AI drive to keep pace with global front-runners in this p
March 20, 2016
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[EV Expo] ‘Electric cars key to carbon-free Jejudo Island’
Jeju Province Gov. Won Hee-ryoung gives a thumbs up during a test drive of Kia's Soul EV in Jejudo. Jeju ProvinceKorea’s ambitious green project to transform Jejudo Island into a carbon-free island by 2030 is drawing attention from policy makers and electric carmakers from around the world. Jejudo Island is the nation’s largest island with a population of 600,000. Since vision 2030 was presented last year, citizens and visitors there have seen a growing number of electric cars, smart home
March 20, 2016