Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Will China's self-sufficient dream in HBM come true?
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[News Focus] With Asiana officially under HDC, financial improvement emerges as top priority
Following Asiana Airlines’ new owner Hyundai Development Company finalizing a stock purchase agreement with the air carrier’s parent company Kumho Industrial on Friday, market analysts viewed that the priority mission for HDC is to improve the financial status of the debt-ridden air carrier. In short, it may cost the firm more than the promised 2 trillion won ($1.73 billion). According to the HDC consortium, which includes Mirae Asset Daewoo that will take 15 percent stake, it clinch
Dec. 29, 2019
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BMW Korea wins lawsuit against government's emission-related fine
BMW Korea has virtually won a lawsuit against the over 60 billion-won (US$51.7) fine imposed by the government over the auto company's gas emission verification, sources said Saturday. In September, the Supreme Court of Korea convicted BMW Korea of illegally skipping the compulsory gas emission verification process and forging related documents in the period of 2012-2017, leading to the government's imposition of a 62.7 billion-won fine on the company. Protesting the decision, BMW Kore
Dec. 28, 2019
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HDC inks deal to acquire Asiana Airlines
HDC Hyundai Development Co., a midsized construction company, signed a deal on Friday to acquire Asiana Airlines Inc. as the South Korean builder strives to diversify its business portfolio.In their board meetings held early Friday, HDC and Kumho Industrial Co., a construction unit of Kumho Asiana Group, approved the deal.The signing comes after the consortium formed between HDC and Mirae Asset Daewoo was picked the preferred bidder last month to acquire a 30.77-percent Asiana stake held by Kumh
Dec. 27, 2019
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Hyundai’s mobility service venture Mocean Lab teams up with car rental association
Hyundai Motor Group said Thursday its affiliate Mocean Lab has joined hands with the country’s car rental business association to develop a mobility service ecosystem in the rental car market. The mobility service venture set up by the parent group of Hyundai Motor and Kia Motors has signed a memorandum of understanding with the Korea Rental Car Business Association for collaboration in the future mobility business. The association is the country’s largest group of car rent
Dec. 26, 2019
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[Newsmaker] Wi-Fi use latest hot spot of tension at Hyundai Motor
The latest bone of contention between the labor union and management at Hyundai Motor was unforeseen in a country that boasts one of the highest internet penetration rates -- Wi-Fi use.On Tuesday, the automaker changed its decision to allow employees to use Wi-Fi at its manufacturing plant in Ulsan, and placed restrictions on use only during meal times and break hours. The decision was taken after criticism that employees spent a lot of their time surfing the internet or watching YouTube vi
Dec. 24, 2019
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Hyundai's upgraded Grandeur gets more than 50,000 preorders in S. Korea
Hyundai Motor Co., South Korea's top automaker, said Monday its face-lifted Grandeur sedan has received more than 50,000 preorders in just over a month since the vehicle's launch at home. Hyundai said it received orders for 52,640 new Grandeurs as of last week since the preorders started on Nov. 3.Hyundai said consumers in their 40s were the biggest buyers of the upgraded Grandeur, as they accounted for 31 percent of the total preorders. They were followed by consumers in their 50s, who made up
Dec. 23, 2019
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Mahindra chief set to retire amid talks on fate of SsangYong Motor
Following the massive executive reshuffle at Mahindra & Mahindra, an Indian auto giant that acquired SsangYong Motor in 2010, market insiders are speculating whether it will hamper investments in its ailing South Korean subsidiary. According to the Indian company, current Chairman Anand Mahindra will complete his term and take over a non-executive role as a chairman of the board of M&M from April 1. The group said that he will serve as a mentor and the board’s managing director to
Dec. 22, 2019
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Hyundai Motor to present new mobility road map at CES 2020
South Korea’s largest automaker Hyundai Motor will present its new mobility road map at the annual Consumer Electronics Show 2020, the world’s largest consumer technology conference to be held in Las Vegas next month, officials said Friday.Releasing the teaser image of the human-centered mobility vision, the company envisioned the innovative mobility and consequent changes for dynamic future cities. The upcoming mobility vision comprises three key pillars, Urban Air Mobility, Purpose
Dec. 20, 2019
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Kia workers strike for higher wages
Unionized workers at Kia Motors Corp. on Wednesday began a partial strike for higher wages after rejecting the company's proposals last week.Kia's union said they held a four-hour strike on Wednesday and plan to walk out for eight hours on Thursday. On Friday, 56 percent of the union's 27,050 workers voted down the deal tentatively agreed between the company and the union on Dec. 10. Under the initial agreement, Kia offered to raise workers' basic monthly wage by 40,000 won (US$34) and pro
Dec. 18, 2019
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Han Sung Motor sells artistic goods at Seoul Design Festival for donation
Han Sung Motor, an official local dealer of Mercedes-Benz in Korea, said it had sold artistic goods at its booth at the 2019 Seoul Design Festival to help children in need.The five-day annual event that kicked off on Dec. 4 involved rising artists and young designers as well as collaborative projects between art groups. Han Sung Motor participated by arranging a collaboration project between its Dream Gream scholarship students and local design studio Maeum.Dream Gream is a schol
Dec. 18, 2019
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Naver Financial attracts W800b investment from Mirae Asset
Naver Financial, a financial platform by South Korean internet giant Naver, has attracted an investment of about 800 billion won ($683 million) from its financial partner Mirae Asset, the company said in a regulatory filing on Friday. The investment will secure a stable financial structure for Naver Financial and forge a partnership between the two to take the lead in the country’s emerging “techfin” industry. Techfin refers to technology firms seeking to deliver financial prod
Dec. 13, 2019
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Hyundai Motor jumps into Indonesian ride-hailing market
Hyundai Motor said Friday it has delivered the first batch of 20 Ioniq EVs to Indonesia, entering the ride-hailing market in the Southeast Asian country in partnership with Grab. The South Korean carmaker and Grab will operate ride-hailing services in Jakarta with the electric version of the compact starting early next year. They plan to expand the number of vehicles in operation by the end of the year. The Ioniq EV is capable of running 271 kilometers per single charge. It can be recharged to 8
Dec. 13, 2019
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K5 preorders set new record for Kia
The number of all-new K5 preorders has set a fresh record of more than 16,000 units sold in just three weeks, Kia Motors said Thursday as it launched the third-generation of the popular sedan officially on the same day. The number of preorders the K5 received is the highest among vehicles launched under the Kia marque, the company said. “Of all customers who preordered the K5, 53 percent of them were in their 20s and 30s, demonstrating overwhelming support and attention from younger genera
Dec. 12, 2019
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Renault Samsung workers overturn wage deal, set for another strike
Overturning a wage deal clinched in June, unionized workers at Renault Samsung have voted to hold a sit-in protest, according to members of the union Wednesday, although the automaker said it would continue with the labor-management negotiations which kicked off in September. Of more than 2,000 unionized workers at the South Korean unit of the French automaker Renault, 66.2 percent voted to go on strike. The labor union and management had reached a wage deal on June 24, bringing an end to a
Dec. 11, 2019
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Mercedes-Benz Korea holds future mobility startup hackathon
Mercedes-Benz Korea said Wednesday it has kicked off its Connected Car Startup Hackathon, a competition between startups to develop connected car services for innovative future mobility.The 48-hour nonstop event is taking place at the EQ Future Pavilion set up by the automaker in Sinsa-dong, Seoul. Nine startups that develop and produce connected car technologies such as mobility, UX, maintenance and charging have made it to the final, the company said.The event was organized in a joint partners
Dec. 11, 2019
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[Behind the Wheel] Why Mercedes-Benz GLB has it all
MALAGA, Spain -- It may be difficult to have it all, but Mercedes-Benz’s new compact SUV lineup of the GLB has certainly tried its very best. It’s a luxury family car with enough spacious cabin room for a third row of seats. It has strong and adaptive suspension and an intelligent four-wheel system that increases driving pleasure even on curvy, steep and inclined mountain roads. Above all, the spirit of a traditional SUV is intertwined with the latest auto technology, including the a
Dec. 9, 2019
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Half of Hyundai, Kia cars sold in US are SUVs
More than a half of new cars manufactured by South Korean carmakers Hyundai and Kia sold in US were sport utility vehicles, reaching the highest mark since they launched operations in the world’s second-largest auto market, the companies said Sunday. Of the 1.2 million vehicles Hyundai and its smaller affiliate Kia sold as of November, 668,328 units or 55.4 percent of the total were SUV, from 30.9 percent in 2013. The number of SUVs sold by November already has surpassed the figure for las
Dec. 8, 2019
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Kia to accelerate sales in India as new plant kicks off
Celebrating the launch of its latest overseas plant in India, Kia Motors said Thursday it will expand its portfolio of “Made-in-India” products next year and introduce fully digitalized sales and service channels for customers.The South Korean auto giant officially opened its new production facility in Anantapur district in the state of Andhra Pradesh, built with an investment of $1.1 billion. It started operations in July rolling out the Seltos compact SUV, the company’s first
Dec. 5, 2019
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Hyundai Motor to invest W61.1tr for R&D, future tech under 2025 road map
Hyundai Motor said Wednesday it plans to invest 61.1 trillion won ($51 billion) in research and development and future technology by 2025, with the aim of transforming into a smart mobility solution provider. Under the Strategy 2025 road map, the automaker will foster smart mobility devices and smart mobility services as the two main pillars of its business.“The key to our future strategy is to focus on customers and to present the most desirable products and services. We want to offe
Dec. 4, 2019
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Mercedes-Benz Mobility Korea introduces long-term car rental program
Daimler Mobility -- a subsidiary of Daimler Group, which owns Mercedes-Benz -- officially kicked off operations in South Korea on Tuesday, offering a long-term car rental program. Mercedes-Benz Mobility Korea is the first of its kind globally and the fourth entity of the Daimler Group to launch operations in Korea. The company said it will offer a tailor-made mobility product under its concept of “mobility at your fingertips.”“We will offer one- to five-year long-term
Dec. 3, 2019