Most Popular
-
1
'Super Rich in Korea' will leave viewers appreciating Korea more: producers
-
2
Probe of first lady on Dior bag allegations set to begin
-
3
Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
-
4
Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
-
5
[KH Explains] Can tech firms' AI alliances take on Nvidia?
-
6
Police seek arrest warrant for med student who killed girlfriend
-
7
[Grace Kao, Meera Choi] Has money displaced romance on dates?
-
8
Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
-
9
Korean battery makers heave sigh of relief over 2-year IRA reprieve
-
10
Over 80,000 millionaires, 20 billionaires in Seoul: report
-
Kia Motors vows W29tr to transform into EV maker
Kia Motors on Tuesday unveiled its strategy to transform into a mobility solutions provider and ramp up its lineup with 11 new models to achieve global electric vehicle market share of 6.6 percent by 2025. Under its mid- and long-term business plan called “Plan S,” the sister company of Hyundai Motor said it will focus on EVs by injecting 29 trillion won ($25.1 billion), as well as increase profitability by offering customized mobility solutions.The vision was unveiled during it
Jan. 14, 2020
-
Mercedes-Benz vows to maintain top spot in Korea with 15 new releases
Mercedes-Benz Korea said Tuesday it will release nine new models and six face-lifted vehicles this year to maintain its top position in the imported car market here.The automaker also touted its product lineup that “fits Korean tastes” as the reason for topping industry sales for four years in a row, during the automaker’s New Year’s press conference.According to the company, it has sold a record-high of 78,133 vehicles last year, up by 10.4 percent from the previous year
Jan. 14, 2020
-
Hyundai targets sales of 1m cars annually in US by 2025
The US subsidiary of South Korean auto giant Hyundai Motor said Sunday it aims to sell 1 million units annually by 2025, on the back of rapid sales of the new Genesis model and sport utility vehicles. While the once-lucrative US market has seen total car sales fall by 1.1 percent last year to 17.08 million units due to global protectionism and sluggish global economy, sales of recreational vehicles inched up 2.8 percent, increasing its ratio in total sales to 71.9 percent in 2019 from 69.1 perce
Jan. 12, 2020
-
HDC board OKs W400b rights issue for Asiana acquisition
HDC Hyundai Development Co. said Friday it will raise 400 billion won ($344 million) in a rights issue to help finance its acquisition of Asiana Airlines Inc.HDC plans to issue 21,969,110 shares, or half of its outstanding 43,938,220 shares, at about 18,550 won per share, the company said in a statement.The price will be finalized on March 2, and investors are required to make their payments for the purchase of the new shares by March 13. The new HDC shares are set to be listed on the main KOSPI
Jan. 10, 2020
-
Renault Samsung workers wage sudden strike, renegotiation falters
Unionized workers at Renault Samsung staged an impromptu partial strike late Wednesday despite a planned renegotiation with the management the next day, according to the automaker. The South Korean carmaker said the unionized workers staged a four hour-long partial strike by suspending the operation of the production line. A Renault Samsung representative told The Korea Herald that given the current situation, the planned renegotiation on Thursday has been canceled. According to t
Jan. 9, 2020
-
Toyota to launch 4 new models in H1 to boost S. Korea sales
Toyota Motors Corp. said Thursday it will launch four new models in South Korea in the first half of the year to jump-start its lackluster sales amid trade tensions between Seoul and Tokyo. Toyota Motors plans to introduce the gasoline-powered GR Supra sports car on Jan. 21, the Camry's sports version XSE gasoline model in February and the all-wheel drive Prius and Prius C Crossover gasoline hybrid models in March, the company said in a statement.For the whole of 2019, Toyota sold 10,611 vehicle
Jan. 9, 2020
-
Hyundai, Kia's US sales rise 4.6% on brisk demand for SUVs in 2019
Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday their combined sales in the United States rose 4.6 percent last year, helped by robust sales of SUVs. In 2019, Hyundai and Kia sold a combined 1,304,109 vehicles in the world's most important automobile market, up 4.6 percent from 1,257,307 units the previous year, the companies' sales data showed. The annual figures include sales of Genesis models that are sold under Hyundai's independent Genesis brand. Hyundai and Genesis' US s
Jan. 9, 2020
-
SUV sales in S. Korea hit record high in 2019
Sales of sport utility vehicle models in South Korea hit a record high last year as carmakers strengthened their SUV lineups to meet rising demand for recreational vehicles, industry data showed Thursday. For the whole of 2019, the country's five automakers, including Hyundai Motor Co. and Kia Motors Corp., sold a combined 575,662 SUVs here, accounting for 38 percent of their domestic sales of 1,533,166 passenger vehicles, according to the carmakers' sales data. Their local sales fel
Jan. 9, 2020
-
[CES 2020] Chung Euisun leads aggressive mobility drive with global firms
Hyundai Motor Group’s Executive Vice Chairman Chung Euisun has been highlighting the conglomerate’s transformation into a mobility solution provider by partnering with global firms in the industry. South Korea’s top auto group said Wednesday that it sealed a partnership with Uber at Consumer Electronics Show 2020 in Las Vegas, to develop an urban air mobility business and create “the world’s top personal air vehicle.” “Based on the collaboration with Ube
Jan. 8, 2020
-
[CES 2020] Hyundai foresees personal air vehicle by 2028
Hyundai Motor envisions a future of mobility where people can hop on a personal air vehicle and transfer to a specialized vehicle that doubles as a restaurant or even a clinic, its chief said Monday.Speaking at the annual Consumer Electronics Show in Las Vegas, Hyundai Motor Group Executive Vice Chairman Chung Euisun unveiled a smart mobility vision for hubs that link aerial vehicles with specialized ground transportation. “We have thought deeply about what is significant when it come
Jan. 7, 2020
-
Volvo aims to sell 12,000 vehicles in S. Korea this year
Volvo Cars Korea said Tuesday it aims to sell 12,000 vehicles this year on higher demand for its SUVs.The 2020 sales target is 14 percent higher than the carmaker's sales of 10,570 vehicles last year, according to data from the Korea Automobile Importers and Distributors Association.Volvo's three best-selling models were the midsize XC60 SUV, the compact XC40 SUV and the S90 upper midsize sedan in 2019, driving up the annual sales result, the KAIDA data showed. The midsize S60 sedan and the V60
Jan. 7, 2020
-
With Cherokee Trailhawk to debut this year, Jeep joins 10,000-unit club
American classic sport utility vehicle brand Jeep sold 10,251 units in Korea in 2019, joining the “10,000-unit club” here for the first time, the company said Monday. The 10,000-unit mark is a standard that measures whether foreign carmakers have made a safe landing here.According to Jeep, it saw a 35.1 percent increase in annual sales last year from the year prior, bringing it to seventh among foreign carmakers and second among imported SUV brands. It is the first time for the
Jan. 6, 2020
-
Hyundai Motor rolls out upgraded Kona Electric 2020
Hyundai Motor said Monday it has launched Kona Electric 2020, an upgraded version of the country’s most-sold electric vehicle last year.A total of 13,587 units of Kona Electric were sold in the domestic market last year, maintaining its top position in the EV market for two years in a row. The automaker said all trims of Kona Electric 2020 have adopted 10.25-inch navigation, offering drivers with wider, clearer screen as well as various multimedia contents. The navigation program is
Jan. 6, 2020
-
[Monitor] EV sales by Hyundai, Kia more than double
Hyundai Motor and its affiliate Kia Motors said they have seen their combined electric vehicle exports more than double last year.In 2019, the two carmakers exported 63,414 EVs, up from 27,798 units a year earlier.Their other eco-friendly vehicles including plug-in hybrid and fuel cell EV models also increased 16 percent to 226,581 units last year.Hyundai’s all-electric models include the Ioniq and the Kona Electric. Kia sells the Niro Electric and Soul electric boxcar in global markets. H
Jan. 5, 2020
-
Airlines to expand number of flights ahead of Seollal
The country’s airlines are expanding their numbers of flights ahead of Seollal and throughout the holiday, industry sources said Friday. Seollal, the Lunar new year, is one of the biggest holidays in Korea. This year’s Seollal falls on Jan. 25, with the holiday running from 24th until 27th. Korean Air said it would add a total of 26 more domestic flights connecting Gimpo to Jeju, Cheongju to Jeju and Gimpo to Busan, from 23rd to 27th.Asiana Airlines said it will add 12 mor
Jan. 3, 2020
-
Carmakers to launch new models in first half of 2020 to recover sales
Carmakers are rushing to launch new models in the first half of the year -- mainly market-dominating sport utility vehicles -- seeking opportunities to recover sales, according to industry sources.Hyundai Motor’s first-ever Genesis SUV GV80 opens up this year’s new vehicle lineup. The automaker released images of the luxury SUV GV80 on New Year’s Day, raising market expectations for the model set to debut in mid-January. The three-row SUV from Hyundai Motor’s l
Jan. 2, 2020
-
Hyundai Motor unveils images of first Genesis SUV GV80
Hyundai Motor’s luxury brand Genesis unveiled its first sport utility vehicle on Wednesday, raising market expectations for the much-anticipated model set to debut in mid-January. The GV80, a three-row SUV, is the fourth model of the brand, which consists of the G70, G80 and G90 sedans. The “V” in its name represents the “versatile” aspect of the luxury SUV, while the number 80 indicates its large size, Hyundai Motor said. Under the design concept of
Jan. 1, 2020
-
SUVs, EVs, luxury cars to again dominate auto market in 2020
After a bumpy year with flat consumer sentiment and global trade uncertainties, the automotive market is likely to face a similar business environment in 2020, with sport utility vehicles, electric vehicles and luxury cars remaining popular, according to market analysts.Hyundai Motor Group’s think tank for global business research and development center noted that the global auto market is estimated to record sales of 86.95 million units in 2019, down 5 percent from the previous year. This
Dec. 31, 2019
-
[Newsmaker] Feud for helm of Hanjin Group intensifies
The family feud for the helm of Hanjin Group, the South Korean conglomerate that owns flag carrier Korean Air, appears to be intensifying as the chairman reportedly kicked up a storm at his mother’s house on Christmas.On Sunday, media outlets here reported that group Chairman Cho Won-tae visited the home of his mother, Lee Myung-hee, in the Jongno area of Seoul on Wednesday with his family. There, he reportedly broke a window and items in the house.The incident reportedly occurred because
Dec. 29, 2019
-
Mercedes-Benz Korea launches S 560 e for diversified hybrid sedan choices
Mercedes-Benz said Sunday its luxury flagship sedan the new Mercedes-Benz S 560 e has landed in South Korea, as part of the efforts to diversify its plug-in hybrid sedan lineup here. The German automaker’s S-Class sedan is conspicuous by its long wheelbase, spacious interior, innovative suspension system and high fuel efficiency, being a 70-year-long steady-selling luxury sedan, Mercedes-Benz Korea said.With the third-generation plug-in hybrid new S 560 e launching in Korea, the company sa
Dec. 29, 2019