Most Popular
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Iran’s president found dead at helicopter crash site
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Seoul rolls out W250b package in bid to lure foreign talent
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Korea's increasing US investment mutually beneficial: report
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Yoon vetoes bill for special probe into young Marine's death
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SNU alums nabbed for digital sex crimes
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Minister warns against trusting NK stated intentions, says Moon misguided
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South Korea bans viral North Korea propaganda video praising Kim
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AI Seoul Summit to discuss ways to make AI equitable in Global South
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Hermes celebrates craftsmanship
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Court to rule on Kia wages next week
A Seoul court is set to issue a ruling on the case involving wages at Kia Motors Corp. next week, a judiciary official said Thursday, a decision that could have far-reaching consequences for South Korean industries.Next Thursday, the Seoul Central District Court will decide whether to count "regular" bonuses at the carmaker as part of basic wages, the court spokesman Kim Shin-yoo said over the phone. In a text message sent to Yonhap News Agency, Kia Motors said, "Carmakers have little room to hi
Aug. 24, 2017
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Hyundai, Kia face protracted slump in China
Hyundai Motor Co. and its affiliate Kia Motors Corp. still struggled last month in China, posting a 37 percent on-year slump in their vehicle sales in the world's largest automotive market, industry data showed on Thursday.In July, Hyundai Motor and Kia Motors sold a combined 70,017 vehicles there, down from 111,021 units a year earlier, the companies' data showed. The results were mainly affected by political tensions between Seoul and Beijing over the deployment of a US missile defense system
Aug. 24, 2017
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Hyundai Motor to launch pickup truck to boost US sales
Hyundai Motor‘s Santa Cruz crossover truck concept vehicle unveiled at the 2015 Detroit motor show. (Hyundai Motor Group)Hyundai Motor, South Korea’s No.1 automotive company, will tap into the pickup truck market in the US with the aim of boosting its sluggish sales there, the company said Wednesday.Michael J. O‘Brien, vice president of corporate and product planning at Hyundai Motor America, said the company’s top management in Seoul had approved plans to go ahead with pickup truck development,
Aug. 23, 2017
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New GM Korea head to meet with labor union
Kaher Kazem, the newly appointed CEO of GM Korea, met with unionized workers of the company ahead of his inauguration next week, the company said Tuesday. At the meeting, the new local head is expected to ask the labor union for cooperation in improving the company’s competitiveness.Kazem will head GM India until the end of this month. He will begin his post as the new CEO of the Korean unit on Sept. 1, following James Kim.“The new CEO is currently going back and forth between India and Korea to
Aug. 22, 2017
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Carmakers say industry backtracking on labor dispute
South Korea‘s auto industry has been backtracking on high cost and low productivity triggered by continuing labor disputes, CEOs of carmakers and partmakers said Tuesday.At a seminar held by Korea Automobile Manufacturers Association, the profit structure of the industry has been deteriorating due to rising labor costs despite the country suffers from declining auto production and exports. The escalating tension between the management and the labor over pay raises has made not only Korean carmak
Aug. 22, 2017
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[Photo News] SsangYong Motor’s Rexton Trans-Eurasia Trail team travels Silk Road
ON SILKROAD -- A team of SsangYong Motor’s Rexton Trans-Eurasia Trail team travel parts of the Silk Road in eastern China that links Asia and Europe. Kicking off from Beijing on Aug. 11, the team is set to travel 18 cities in seven countries all the way to Europe, or about 10,000 kilometers, before its European debut in Frankfurt on Sept. 12. (SsangYong Motor)
Aug. 22, 2017
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Hyundai, Kia become world’s No. 2 green carmaker
Hyundai Motor and its sister company Kia together became the world’s second-largest green carmaker in the first half of the year, taking the No. 2 spot three years earlier than they had planned. According to IHS Markit, Hyundai and Kia sold a total of 102,480 units of eco-friendly vehicles between January and June, a 126.1 percent increase from the same period last year and similar to their combined annual sales last year. The two carmaking units under Hyundai Motor Group, South Korea’s second-l
Aug. 22, 2017
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Kia workers to stage partial strike for higher wages
Unionized workers at Kia Motors Corp. will stage a partial strike to demand higher wages, the carmaker's union said Monday. The walkout planned for Tuesday comes as Kia's management and its 28,240-strong union failed to narrow a gap over wages and other benefits in this year's collective bargaining negotiations. "After weeks of talks with the management, Kia workers have decided to carry out the strike in line with planned strikes by (its umbrella labor group) the Korean Metal Workers' Union,"
Aug. 21, 2017
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Hyundai Motor seeks to expand Genesis luxury brand
Amid declining sales and popularity of Hyundai Motor vehicles worldwide, the country’s leading automotive company is recruiting experienced workers to strengthen its independent premium brand Genesis, the company said Monday.Hyundai Motor will look for experts to work on marketing and strategy planning of Genesis, alongside software experts for autonomous driving and connected cars, and experts in eco-friendly vehicles batteries until Sept. 3.“The recruitment shows Hyundai’s efforts to boost sal
Aug. 21, 2017
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Demand for ultra-compact EVs rises in Korea
Renault Samsung Motor's Twizy ultra-compact EV (Renault Samsung Motor)Amid the growing popularity of electric vehicles, ultra-compact EVs are emerging as a new form of transportation due to mobility on congested roads as well as their affordability, industry watchers said Sunday.“Ultra-compact EVs have been mentioned as the next generation of mobility for drivers living in clustered cities for quite a while now. The latest trend that began in Europe has recently landed in Korea,” said Kwon Soon-
Aug. 20, 2017
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Volvo Korea to invest W100b on network expansion, customer service
Lee Yun-mo, president of Volvo Car Korea speaks at a press briefing held at Volvo Car Korea‘s new office in Gangnam, southern Seoul, on Wednesday evening. (Volvo Car Korea)Volvo Car Korea, local importer and distributor of the Swedish automaker, said it will invest 100 billion won ($88 million) to expand its dealership network and strengthen customer service in South Korea, a market it sees with greater potential.“We will invest 100 billion won this year to expand our networks, showroom and serv
Aug. 17, 2017
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Hyundai Motor suffers W300b won output losses on strikes
Hyundai Motor Co., South Korea's top automaker, said Thursday that it has suffered an estimated 300 billion won ($264 million) in lost production due to three rounds of partial strikes at its main plant in the country.Unionized workers at the carmaker staged four-hour strikes last week, demanding higher wages and bonuses.They plan to walk out again on Friday and Monday as the company's sweetened offerings fell short of their demands. (Yonhap)Hyundai Motor's approximately 50,000-member union dema
Aug. 17, 2017
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Kumho Tire to diversify Ecsta PS71 tire size
Kumho Tire’s high-performance tire Ecsta PS71. (Kumho Tire)Kumho Tire will expand the size of its high-performance tire Ecsta PS71 to offer the product to more motorists starting next year, the company said Thursday. Over 10 tire sizes of the Ecsta PS71, ranging from 16 inch to 20 inch-rim diameter sizes, will be added to the product lineup in 2018 from the current 24 sizes.Made for premium sports driving, the Ecsta PS71 was released last March as an upgraded version of the Ecsta LE Sport, the c
Aug. 17, 2017
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Hyundai Motor to develop 31 eco-friendly models by 2020
Hyundai Motor‘s next generation fuel cell electric vehicle slated for release next year. (Hyundai Motor Group)Hyundai Motor on Thursday unveiled its next-generation fuel cell electric vehicle set for release early next year, as part of plans to expand its eco-friendly vehicles to 31 models by 2020.“The next-generation FCEV is symbolic of Hyundai Motor’s heritage and leadership. The new model unveiled today confirms Hyundai’s global leadership in FCEVs, while heralding the beginning of a hydrogen
Aug. 17, 2017
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GM India CEO to head Korea unit
Kaher Kazem, chief executive officer of General Motor’s India was named new head of the US automaker’s South Korean operation, the company said Thursday. “We are pleased to have Kaher taking over GM’s key operations in Korea,” said GM Executive Vice President and President of GM International Stefan Jacoby. “As a car guy, Kaher has had a long and distinguished career in manufacturing, business operations and leading key markets in the automotive industry. He has the experience and global perspe
Aug. 17, 2017
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Six models of Peugeot, Citroen vehicles to be recalled
Peugeot and Citroen vehicles will be recalled for faulty parts, the transport ministry said Thursday.Six models imported by Hanbul Motors, including the Peugeot 508, Peugeot 308 and Citroen DS5, are subject to the recall, affecting 1,226 cars, according to the Ministry of Land, Infrastructure and Transport. These cars have power cables connected to a starter motor that could lose their coating when scraped by other engine components, raising the risks of fire from short circuiting, ministry offi
Aug. 17, 2017
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Labor costs at carmakers among highest last year
The ratio of labor costs to overall revenue generated by three major automakers here was relatively higher than companies in other industries, data showed Wednesday.According to CEOScore, a local corporate tracker, labor costs at Hyundai Motor, Kia Motors and SsangYong came to 13 percent of their sales last year, double the average of 5.9 percent at 334 companies studied. Hyundai`s second plant in Ulsan, South Gyeongsang Province. YonhapThe auto industry has been waiting for a court ruling on a
Aug. 16, 2017
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Hyundai Mobis develops Korea’s first bi-directional on-board charger
(Hyundai Mobis)Hyundai Mobis, South Korea’s biggest auto parts supplier, developed Korea’s first bi-directional on-board charger, or OBC, that can be installed in electric vehicles to heighten energy efficiency, the company said Wednesday. The bi-directional charging device is essential for the vehicle-to-grid (V2G) technology, which connects EVs to the electrical grids.“The highlight of the bi-directional OBC is that it sends surplus electricity back to the grid to maximize energy efficiency, a
Aug. 16, 2017
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Hyundai sees boost in eco-friendly cars, hurdles lie in China
Kia Motors' Niro plug-in hybrid SUV. (Hyundai Motor Group)Amid declining sales of Hyundai Motor and Kia Motors in Korea and abroad, demand for eco-friendly cars made by the country’s top two carmakers is increasing, data from the company showed.Hyundai Motor and Kia Motors sold a combined 141,681 eco-friendly cars between January and July this year, which is 10 percent more than the 128,975 units sold for the whole of 2016. Eco-friendly cars offered by the two companies consist of 14 models -- s
Aug. 15, 2017
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Posco to hire 6,000 regular workers by 2020
(Posco)Posco, South Korea’s leading steelmaker, will hire a total of 6,000 full-time employees from this year to 2020 in an effort to offer job opportunities and secure talent, the company said Tuesday. The company will hire 1,500 workers annually for the next four years.The large-scale employment plan comes as the steelmaker strives to gain a lead in the “fourth industrial revolution” by researching and developing new sources of growth such as lithium, the company said.To secure talent, Posco w
Aug. 15, 2017