Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Chartered flights to bring bizmen to Vietnam, China this week
South Korea said Tuesday it plans to send businessmen on chartered flights to Vietnam and China this week as the new coronavirus pandemic has virtually suspended global air traffic, disrupting their travels. Under the plan, around 570 businessmen from 240 companies will start being sent to Vietnam on chartered airplanes Wednesday, according to the Ministry of Trade, Industry and Energy. Through August, South Korea plans to send 1,500 workers to the Southeast Asian nation. The flight to Chin
July 21, 2020
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Samsung, Hyundai Motor heirs set to discuss cooperation in mobility biz
Heirs of South Korea's top two conglomerates -- Samsung and Hyundai Motor -- will discuss possible cooperation in the electric vehicle (EV) and mobility businesses, the groups said Tuesday. Lee Jae-yong, Samsung's de facto leader, shared his views on future mobility solutions with Hyundai Motor Group Executive Vice Chairman Chung Euisun following his visit to the automaker's Namyang Research & Development Center in Hwaseong, south of Seoul. Lee was accompanied by Samsung Electronic
July 21, 2020
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Tesla Model 3 on hire in Seoul: SK Rent-a-Car
South Korea’s rental service firm SK Rent-a-Car said Monday it has launched a rental service for Tesla Model 3 at its 10 branches in Seoul and Gyeonggi Province “As demand for electric vehicles continues to increase, we have recently released new products of Tesla, the most favored EV of customers,” a company official said. A total of 21 Tesla Model 3 units will be offered as short-term rental cars. Customers can make reservations through the firm’s website or custome
July 20, 2020
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Volvo Cars Korea ditches diesel to go all hybrid from 2021
Volvo Cars Korea said Monday it will no longer offer pure diesel or gasoline cars starting with its 2021 models and instead sell only hybrid cars. According to the automaker, Volvo cars will be available only in mild hybrid or plug-in hybrid vehicles starting with its 2021 models in Korea, as it aims to become carbon neutral by 2040. Korea will be the first country where Volvo won’t sell pure diesel cars at all, the company said. Volvo Cars Korea will replace D5, T4, T5 and T6 inte
July 20, 2020
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Incheon Airport ditches controversial ‘phoenix-inspired’ logo option
Incheon International Airport Corp. says it is not going forward with a mythical bird-inspired logo for the corporation’s 20th anniversary next year after a leaked image online drew criticism. In an emailed statement on Sunday, the company confirmed it had ditched the new corporate identity design after “considering the majority’s opinions.” “It’s regretful that the draft was misreported as an official one,” the company said as it explained it was one
July 20, 2020
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SsangYong reveals teaser of first EV E100
SsangYong Motor on Monday unveiled a teaser image of its first electric vehicle, which has been developed under the project name “E100.” The automaker’s new, electric subcompact sport utility vehicle is set to be released in the first half of next year. Prior to the launch of the new EV, the automaker released an image that graphically expresses its exterior design. The firm said the overall design is based on a streamlined line that reflects aerodynamics optimized for urban
July 20, 2020
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Korea Shipbuilding wins W86b order from Europe
Korea Shipbuilding & Offshore Engineering Co. said Monday that it has won an 86 billion won ($71 million) deal from a European company to build two petrochemicals (PC) carriers. Under the deal, Hyundai Mipo Dockyard Co., a shipbuilding unit of Korea Shipbuilding, will start constructing the ships in November and deliver them to the buyers from the second half of 2021, Korea Shipbuilding said in an e-mailed statement. The deal has an option to build an additional PC carrier. So far thi
July 20, 2020
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[The Heirs (4)] Hurdles remain for second son in inheriting Hankook Technology Group
Despite public apathy and tougher shareholder censure, South Korea’s chaebol groups are preparing a generational shift in leadership. The Korea Herald looks at different conglomerates and succession scenarios. -- Ed. Hankook Technology Group, formerly known as Hankook Tire, was founded in 1941 and was South Korea’s largest and the world’s sixth-largest tire manufacturer by revenue as of 2019. The group operates major units including Hankook Tire & Technology, Hank
July 19, 2020
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Hyundai Motor becomes best-selling car maker in Vietnam in first half of 2020
Hyunda Motor became the best-selling car maker in Vietnam during the first half of this year, surpassing Toyota by a slight margin. The South Korean automaker sold 25,358 units during the first six months of 2020, according to data from Hyundai and the Vietnam Automobile Manufacturers’ Association, with its Japanese rival trailing by 181 units. Hyundai cars accounted for 21.3 percent of the market share, up 2.6 percentage points from the same time last year. It marks the first time the
July 19, 2020
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Hyundai tipped to sell more than 100,000 new Grandeur sedans 8 months after launch
Hyundai Motor Co.'s new Grandeur sedan is likely to see its sales top 100,000 units this month, eight months after its launch in the domestic market, industry sources said Sunday. Hyundai Motor launched the face-lifted Grandeur in November last year and aimed to sell 110,000 units in the domestic market this year. According to the sources, Hyundai has sold 90,000 new Grandeur sedans through June this year since its launch. The new Grandeur has been the bestselling model in the domestic marke
July 19, 2020
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Concerns raised over Tesla’s ‘misleading’ ad on autonomous driving system
After a German court ruled that Tesla’s advertisement on the capabilities of its autonomous driving system is “misleading,” a civic group in South Korea on Friday raised concerns and urged authorities here to inspect the firm. In a statement, Citizens United for Consumer Sovereignty, a nonprofit organization, urged the US-based automaker to withdraw its advertisement, which it claimed is exaggerated to misinform consumers as if Tesla cars can fully drive on their own. On Tu
July 17, 2020
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Transport Ministry orders recall of 34,268 cars from seven carmakers
The Ministry of Land, Infrastructure and Transport said Friday it has ordered a recall of 34,268 vehicles -- sold by Hyundai Motor, Kia Motors, Renault Samsung Motors, Toyota, Mercedes-Benz Korea, Hanbul Motors and BMW Korea -- for faulty components. The defective components found in 23 models sold by the seven carmakers include faulty air bag in Hyundai Motor’s Avante, loose nut for generator inside Carnival, worn-out gearshift for Soul EV and oil leak in Renault Samsung’s M
July 17, 2020
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Eastar Jet’s labor union blames Jeju Air, govt. for failed M&A deal
South Korean low-cost carrier Eastar Jet’s unionized workers on Friday blamed Jeju Air and the government for the botched acquisition plan of its rival. The workers’ union argued that the government “neglected” the situation for three months, until the aviation industry’s economic situation severely deteriorated. “The government should actively step up, since the Moon Jae-in government and the ruling party cannot escape responsibility for the economic impac
July 17, 2020
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Air Busan resumes flights to China amid pandemic
Air Busan Co., the budget carrier unit of Asiana Airlines Inc., said Friday it has resumed flights to China as it obtained quarantine approval from the country. Air Busan is offering one flight per week on the Incheon-Shenzhen route on Fridays, the company said in a statement. "The company is targeting to increase the number of flights on the route to Shenzhen depending on the Chinese authorities' guidance," the statement said. The company also aims to restart services on the Inche
July 17, 2020
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Jeju Air says it now has grounds to pull out of Eastar Jet merger
Jeju Air said Thursday it can now walk away from a controversial 54.5 billion won ($45 million) merger deal with Eastar Jet after the troubled low-cost carrier failed to meet the deadline to fulfill its prerequisites. “Eastar Holdings has not fulfilled the prerequisites for its stock purchase agreement” by Wednesday midnight, Jeju Air said in a statement, adding that it is in a position to terminate the deal. “We received an official document yesterday from Eastar Holdings co
July 16, 2020
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Mercedes-Benz Korea unveils four high-performance models
Mercedes-Benz Korea said Thursday it is set to unveil, for the first time here, four new models under the premium high-performance brand Mercedes-AMG at the AMG Speedway in Yongin, Gyeonggi Province, Friday. “There has been a growing demand for high-performance vehicles, especially among younger customers. In order to address this demand, the AMG brand is introducing a variety of performance models including the first-ever engine family 35 along with the 45 and the 45 S models,”
July 16, 2020
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Hyundai to recall 272,000 cars in US on faulty socket
Hyundai Motor Co., South Korea's largest carmaker by sales, said Thursday it will recall more than 272,000 vehicles in the United States as the electrical socket in the dashboard can overheat and cause a fire. The latest recall affects the Elantra compact and Sonata midsize sedan produced between 2011 and 2012, and the Accent subcompact and the Veloster hatchback produced in 2012, a company spokesman said. The problem takes place when an air compressor used to inflate tires is plugged into t
July 16, 2020
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Sales of electric cars dwindle amid coronavirus pandemic
Sales of electric vehicles have taken a hit globally as the coronavirus pandemic continues to take its toll on the economy, a new report has revealed. According to data from market analyst company SNE Research, global sales of electric cars between January and May this year dropped by 20.3 percent to 710,000 units, compared to the same time last year. Due to the worsening impact of the pandemic in the US and Europe in particular, global sales of electric vehicles in May were down by 28.7 perc
July 15, 2020
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EU suspends HHI-DSME merger screening again
The European Commission has again suspended the screening of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering, according to industry sources. Upon the suspension, the screening deadline, originally set for September, has been delayed and it is unlikely that the review will be completed within this year, according to industry watchers. The EU had previously suspended the screening twice as it had difficulty collecting screening data due to the coro
July 15, 2020
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Renault Samsung Motors unveils face-lifted SM6
Renault Samsung Motors unveiled a revamped version of its midsized sedan SM6 on Wednesday, four years after it was launched. The new SM6 has been upgraded by adopting a renewed powertrain to improve the driving performance, along with a new rear suspension and driving assistant function to offer driving comfort. For the exterior, the automaker added new color options including silver, gray and red. The newly added dynamic turn-signal light has made the exterior more aesthetic
July 15, 2020