Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Korea enters full election mode
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Kia Motors gears up to maintain its share in Korean market
Kia Motors Corp. said it will maintain its 33 percent share in the domestic car market this year in order to consolidate its position as the No. 2 player here.The company set its 2012 target on the back of releases of new vehicles and steady sales of popular models.Last year, Kia Motors sold 493,003 vehicles in the South Korean market for a 33.6 percent share, fueled by the popularity of new models such as the Morning and Pride, and growing demand for mid-size cars like the K5.“Despite fierce co
Jan. 8, 2012
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Cadillac takes on BMW amid GM rebound
General Motors Co., with renewed verve as the world’s biggest automaker, will be in the spotlight at the Detroit auto show next week taking on BMW and its popular 3-Series line with a new compact Cadillac. The new model represents Chief Executive Officer Dan Akerson’s strategy for gaining ground in the compact-luxury segment. GM is trying to barge into the market for small, upscale cars, an important entryway for new customers that is dominated by German vehicles such as the 3-Series and the Mer
Jan. 8, 2012
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Audi seeks to pass other German brands in U.S.
Audi will add models to feed U.S. passion for sedans and sport-utility vehicles and gain ground on market leaders Daimler AG and BMW.Audi will use the Detroit motor show next week to unveil a concept “Vail” version of the compact Q3 SUV for the U.S. market and plans to build a sedan version of the A3 hatchback after the newest model comes to market this year, CEO Rupert Stadler said in an interview. U.S. growth is critical to efforts by Audi, the top seller in western Europe and China, to replac
Jan. 8, 2012
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Mahindra considers XUV500 for Korea
Ssangyong back in expansion mode, plans 5 new cars by 2016DELHI, India ― India’s largest SUV manufacturer Mahindra & Mahindra Ltd. says it will bring its flagship model XUV500 to the Korean market.“We’re studying the business feasibility of launching XUV500 in Korea. Various components needs to be adjusted to meet local demands before we can make the decision to bring the vehicle to the Korean market, and we’re trying to see if the investment would be worth the potential revenue,” Pawan Goenka,
Jan. 8, 2012
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Kia vows to maintain share in local market
Kia Motors Corp. said it will maintain its 33 percent share in the domestic car market this year in order to consolidate its position as the No. 2 player here.The company set its 2012 target on the back of releases of new vehicles and steady sales of popular models.Last year, Kia Motors sold 493,003 vehicles in the South Korean market for a 33.6 percent share, fueled by the popularity of new models such as the Morning and Pride, and growing demand for mid-size cars like the K5.“Despite fierce co
Jan. 8, 2012
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BMW grabs US luxury car crown
BMW overtook Mercedes-Benz in a surprise upset Thursday to grab the crown of best-selling luxury brand in the United States after an incentive-fueled race to the finish of 2011. Bayerische Motoren Werke AG ( BMW) vehicles are displayed at the Tokyo Motor Show 2011 in Tokyo, Japan. (Bloomberg)Th
Jan. 6, 2012
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Import car sales drop for first time in 28 months
The nation’s import car industry saw its monthly sales fall for the first time in 28 months in December 2011.According to the Korea Automobile Importers and Distributors Association, foreign carmakers reported combined sales of 7,879 units last December, down from 8,294 units a year earlier.The year-on-year drop in sales was the first since the figure stood at 3,612 units in August 2009, compared with 4,894 units in August 2008.In addition, the figure of 7,879 is quite low compared to the 9,230
Jan. 4, 2012
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Ssangyong targets 123,000 unit sales
Ssangyong Motor Co., South Korea’s smallest automaker, said Tuesday that it aims to sell 123,000 vehicles this year with sales reaching 3.19 trillion won ($2.77 billion) in order to overcome deepening market uncertainties.The automaker sold 113,000 vehicles last year, a 38.2 percent surge from the previous year.Of the total, 38,651 vehicles were sold at home and 74,350 in overseas markets.The company said it set an ambitious sales target for 2012 despite the global economic slowdown, and vowed t
Jan. 3, 2012
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Korean automakers to keep momentum this year
HONG KONG (Yonhap News) - South Korean automakers are likely to maintain upward momentum this year, driven largely by brisk overseas demand, experts said Tuesday.Hyundai Motor Co. and Kia Motors Corp. expect weaker growth in sales this year, citing a slow-down in the global auto industry.The two flagship companies of Hyundai Motor Group saw their combined sales pass 6.59 million units last year, exceeding the 6.33 million sales target set in early 2011.“Hyundai and Kia are aiming for combined sa
Jan. 3, 2012
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Hyundai, Kia set sales goal of 7 million units
Hyundai Motor Group has set its sales target for this year at 7 million, chairman Chung Mong-koo said Monday.In a New Year’s message to his staff, Chung said the automotive group raised its 2012 sales target by 400,000 vehicles from its sales of 6.6 million units in 2011.In a bid to achieve the 7 million target for Hyundai-Kia vehicles, he said, the group has to keep up with fast-changing global trends by setting up an organized cooperation system for better communication among production facili
Jan. 2, 2012
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Korean automakers see sharp sales growth in 2011
Korean automakers announced on Monday that their 2011 sales jumped on solid demand overseas, despite the gloom that hit other sectors because of problems in the eurozone. Hyundai Motor Co., Korea’s leading automaker, said Monday that its 2011 sales increased 12.3 percent from a year earlier, propelled mainly by strong overseas demand for its vehicles. The carmaker said it sold more than 4.05 million vehicles overall last year, up from 3.60 million units in 2010. Domestic sales also moved up 3.6
Jan. 2, 2012
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Hyundai Motor selling more luxury cars than ever in Europe
The profitability of South Korea’s largest automaker Hyundai Motor Group is fast improving in the European market as the company is selling record numbers of large luxury vehicles there, market observers said Sunday.In 2009, the automotive group sold 579,780 vehicles in Europe,79.5 percent of which were small or medium-size cars. The company’s sales rose to 620,372 units in 2010, but the proportion of small and medium-size vehicles dropped 3.7 percentage points to 75.8 percent.Sales of small and
Jan. 1, 2012
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Saab Auto said to attract interest from India’s Mahindra
Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle manufacturer, is interested in buying at least parts of bankrupt Swedish carmaker Saab Automobile, two people familiar with the situation said.Mahindra, based in Mumbai, is in the process of trying to set up meetings with the two court-appointed administrators who are overseeing Saab’s bankruptcy to possibly buy parts of the carmaker or the whole company, said the people, who declined to be identified because the plans are private.
Jan. 1, 2012
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Kia, Renault compete for first electric cars on road
But EV cars unlikely to be a popular option even in a decade, analysts sayThe recently announced government support for electric vehicles has sparked a race to launch homegrown zero-emission cars between Hyundai Motor Group and Renault Samsung. Both have vowed to launch the country’s first mass produced electric car in 2013.Kia Motors Corp., an affiliate of Hyundai, rolled out the all-electric version of its compact car Ray earlier this month and said it will supply a total of 2,500 units to pub
Jan. 1, 2012
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Quake impact may spread beyond Japan
Jan. 1, 2012
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Honda recalls Civics on fuel leak risk
Jan. 1, 2012
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Renault Samsung plans Korea’s first mass-produced electric car
Renault Samsung, the local affiliate of French automaker Renault SA, said it plans to introduce the all-electric SM3 to the public in 2013 in what is to become the country’s first mass production of zero-emission cars, CEO Francois Provost said.“We have plans to mass produce EV cars out of our Busan plant, we will confirm the details at the beginning of next year,” Provost recently told The Korea Herald. “For Renault Samsung, (the emergence of electric cars) is a big opportunity because the Kore
Dec. 30, 2011
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Hyundai Motor to invest W14tr in 2012
Group’s R&D investment to focus on launching more hybrid modelsHyundai Motor Group has set a record-high budget with its 2012 investment in two major sectors ― facilities and research & development.The automotive group said Thursday that its investment target for next year comes to 14.1 trillion won ($12.3 billion), up 15.6 percent from its 2011 investment.Of the 14.1 trillion won investment, 5.1 trillion won will be used for the R&D sector and the remaining 9 trillion won will be allocated to f
Dec. 29, 2011
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Hyundai Motor to establish research center at Hanyang Univ.
Hyundai Motor Group will establish an automotive research institute at the Seoul campus of Hanyang University.The business group said Wednesday that it has signed a contract with the university to build a research center for developing futuristic cars.The two sides will break ground for the establishment of the center during the first half of 2012, Hyundai Motor said in a statement.By offering students and researchers high-end facilities, the two sides hope to foster specialists to take on core
Dec. 28, 2011
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Sales of Kia’s K2 subcompact car hit record high in China
Kia Motors Corp., South Korea’s second-largest automaker, said Monday that sales of its K2 subcompact vehicle reached a record high in China last month, driven by rising demand there.The K2, also known as the Rio in the U.S. and European markets, hit showrooms in China in July and has proven a big hit, with sales exceeding the 10,000 mark in September. Sales of K2 models in China reached 11,327 units and 12,790 units in October and November, respectively, Kia Motors said.The company attributed t
Dec. 26, 2011