Most Popular
-
1
Over 80,000 millionaires, 20 billionaires in Seoul: report
-
2
Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
-
3
Korean battery makers heave sigh of relief over 2-year IRA reprieve
-
4
Young Korean doctors seek plan B: cosmetic dermatology or overseas
-
5
South Korea open to Indonesian proposal to cut KF-21 payments
-
6
Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
-
7
Coupang earnings hit hard by losses from ailing Farfetch
-
8
Korea forecast to overtake Taiwan in chip production by 2032: report
-
9
[K-pop’s dilemma] Time, profit pressures work against originality
-
10
Why femicide and dating violence are growing issues in S. Korea
-
Hyundai Motor sales slip 5.1% in July
Sales of South Korea's leading automaker Hyundai Motor Co. dropped from a year earlier in July due partly to a decline in output caused by a series of labor strikes that led to significant cuts in both domestic and overseas sales, the company said Monday.The automaker's overall sales came to 339,273 cars last month, down 5.1 percent from July 2015.Domestic sales plunged 20.1 percent on-year to 47,879 units.The sharp drop was also attributed to the termination of a temporary cut in excise tax for
Aug. 1, 2016
-
Ssangyong Motor returns to profit on Tivoli sales
[THE INVESTOR] Ssangyong Motor , owned by India’s auto giant Mahindra & Mahindra, bounced back into profit in the first half of the year for the first time in nine years, thanks to the popularity of its Tivoli sport utility vehicle. The automaker posted operating profit of 27.4 billion won (US$24.40 million) in the first half of the year, reversing a nine consecutive loss-making years since 2007, the company said in a regulatory filing on July 29. Sales stood at 1.77 trillion won, while net prof
Aug. 1, 2016
-
Ssangyong Motor sales up 8.2% on-year in July
Ssangyong Motor Co., the local unit of Indian auto giant Mahindra & Mahindra Ltd., on Monday said its sales grew 8.2 percent from a year earlier in July, with a surge in exports more than offsetting a drop in domestic sales.The automaker sold 12,784 cars globally last month, compared with 11,813 vehicles sold in the same month last year.Domestic sales slipped 8.1 percent on-year to 7,546, which also marked a 22.6 percent plunge from the previous month.Exports, on the other hand, spiked 45.3 perc
Aug. 1, 2016
-
Hyundai Motor encourages domestic vacations
South Korea’s largest automaker Hyundai Motor has advised its employees to take vacation in the nation to boost domestic tourism, the company said Sunday. “We have prepared diverse programs to support vacations for the employees of the group and partner companies, as well as clients,” the company’s spokesperson said in a statement, adding, “We hope the programs will boost domestic tourism and consumption.”(123rf)The automaker said it plans to run resorts nationwide for around 150,000 employees t
July 31, 2016
-
Hyundai Motor Group ranks No. 1 in percentage of vehicles made in home country
South Korea's Hyundai Motor Group topped global rivals in terms of vehicles produced in its home country last year, with nearly 45 percent of all cars produced locally, a carmakers' business lobby said Sunday. The combined ratio of domestic output at Hyundai Motor Co. and its sister company Kia Motors Corp. marked the highest of 44.8 percent among the world's top five carmakers by sales, according to data from the Korea Automobile Manufacturers Association. Hyundai Motor and its 34 percent-owned
July 31, 2016
-
Sales of imported company cars fall on tough tax laws
[THE INVESTOR] Sales of imported company cars in Korea fell in the first half of the year on toughened tax laws, industry data showed on July 29.In the January-June period, sales declined 15.8 percent from the same period in 2015, according to the Korea Automobile Importers and Distributors Association. In total, 40,698 units of company cars were sold to account for 34.9 percent of the nation’s imported car sales. The BMW 520d is cited as one of Korea’s most widely used company cars.The declin
July 29, 2016
-
Hyundai to release new hydrogen-powered car in 2018
Hyundai Motor Co., South Korea's largest automaker, on Friday said it plans to release its new hydrogen-powered cars in 2018.The second-generation hydrogen fuel cell cars are set to debut in February 2018, when South Korea's alpine city of PyeongChang hosts the Winter Olympics, the carmaker said.The move is aimed at, among other things, promoting Hyundai's technological prowess to foreign reporters, who will visit South Korea to cover the Winter Olympics.Still, the carmaker declined to elaborate
July 29, 2016
-
Hyundai to unveil new fuel-cell Tucson in 2018
[THE INVESTOR] Hyundai Motor is planning to roll out the second-generation fuel-cell version of its Tucson ix sport utility vehicle in 2018, just in time for the PyeongChang Winter Olympics taking place in South Korea, local news reported on July 29. Hyundai Motor's fuel-cell Tucson ix, the first mass-produced fuel cell vehicle in the world.Since 2013, South Korea’s largest automaker has been producing the first fuel cell version of its Tucson sport utility vehicle, known as Tucson FCEV -- which
July 29, 2016
-
Hyundai Mobis to invest W643b in Hyundai Motor’s new HQ
[THE INVESTOR] Hyundai Mobis, the auto parts unit of Hyundai Motor Group, will invest 643 billion won (US$571.53 million) to build the auto conglomerate’s new headquarters -- Hyundai Global Business Center -- in Southern Seoul, the company said in a regulatory filing on July 28. Hyundai Global Business Center to be built in Samseong-dong, Seoul. Hyundai Motor GroupHyundai Motor Group is planning to erect a 105-story skyscraper in Samseong-dong area of Seoul, on a plot purchased from state-run K
July 28, 2016
-
Hyundai Mobis Q2 profit jumps 13% on SUV sales
[THE INVESTOR] Hyundai Mobis on July 28 said that it posted a 13 percent increase in second-quarter operating profit from a year earlier, thanks to favorable currency rates and improved supply to sport utility vehicles. South Korea’s largest automotive parts supplier affiliated with Hyundai Motor Group reported the April-June operating profit of 784.7 billion won (US$696.2 million), compared with the 694.4 billion won from the same period last year. Hyundai Mobis’ Mabuk technical center in Yongi
July 28, 2016
-
Hyundai Motor slips in US ranking
[THE INVESTOR] South Korea’s largest automaker Hyundai Motor slipped down in the US ranking of cars that measures the overall satisfaction of owning and driving cars. Hyundai Motor ranked ninth, down from second last year, among non-premium brands on the J.D. Power’s Automotive Performance, Execution and Layout Study, released on July 27. The result is based on responses from more than 80,000 purchaser and lessees of new vehicles who assessed the performance and design after 90 days of ownership
July 28, 2016
-
Five Hyundai, Kia cars named segment leaders in U.S. survey
Five vehicle models produced by South Korean automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have been named best cars by U.S. consumers, the automakers said Thursday.In a survey conducted by J.D. Power and Associates, a U.S. marketing information service firm, the Hyundai Tucson was named the best small SUV, beating the Volkswagen Tiguan and all other competitors in the segment, according to Hyundai.The survey was conducted on those who purchased a new car between Novembe
July 28, 2016
-
Prosecutors seek arrest warrant for ex-VW Korea chief
[THE INVESTOR] Prosecutors on July 27 filed for an arrest warrant for Park Dong-hoon, Volkswagen Korea’s former chief executive officer, over the German automaker’s emission rigging scandal. Park has been charged with fabrication of private documents, obstruction of justice and violation of the Clean Air Conservation Act. The 63-year-old headed the Korean unit from its initiation in 2005 to 2013 before moving to Renault Samsung Motors as sales chief. He took helm of the Korean unit of France’s R
July 28, 2016
-
Korea's car exports sink 13.1% in Q2
Exports of South Korea-made cars sank 13.1 percent in the second quarter from a year earlier due mainly to contracted demand from emerging countries and intensified market competition, customs data showed Thursday.The total value of car exports reached $9.6 billion over the April-June period, down 13.1 from $11.1 billion tallied a year earlier, according to the data by the Korea Customs Service.Meanwhile, that of imports jumped 21.5 percent on-year to $3 billion from $2.4 billion over the cited
July 28, 2016
-
Ssangyong, Jaguar cars recalled over safety and fuel efficiency issues
Ssangyong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., will recall over 2,600 units of its flagship Korando C sport utility vehicle sold here for faulty seatbelts that may be too loose to keep passengers safe, the transportation ministry said Thursday.The car is one of six vehicle models, including two types of two-wheeled vehicles and a commercial truck, from five separate manufacturers that failed government tests, according to the Ministry of Land, Infrastruct
July 28, 2016
-
Kia Motors to launch new SUV to boost Chinese sales
[THE INVESTOR] Kia Motors, a Hyundai Motor's smaller affiliate said on July 27 it plans to roll out a new sport utility vehicle in China in response to stagnating car sales in the world’s second largest economy. “In China, we will unveil a new SUV, similar to Sorento, next year,” Han Chun-soo, Kia’s chief financial officer, said at the conference call after announcing the Q2 results. “Besides SUVs, we will also include compact cars and the K5 hybrid model in the new lineup to increase presence i
July 27, 2016
-
Kia Motors Q2 profit up 18.5% on new car launches
[THE INVESTOR] Kia Motors posted an 18.5 percent increase in second-quarter operating profit, driven by newly launched cars and solid demand in its major markets including the US and Europe. South Korea’s second largest automaker on July 27 reported the April-June operating profit of 770.9 billion won (US$679.20 million), compared with the 650.7 billion won from the same period last year. It is the first time that the company’s operating profit has exceeded the 700 billion-won mark since the sec
July 27, 2016
-
[Monitor] German car imports fall on Volkswagen scandal
Imports of German vehicles dropped for the first time in 13 years, apparently due to a large decrease in inbound shipments of Volkswagen and Audi cars mired in an emissions scandal, data from the Korea Automobile Manufacturers Association showed Tuesday.
July 26, 2016
-
BMW’s self-parking system to be available in Korea
[THE INVESTOR] BMW’s latest self-parking system will become available in Korea possibly from November, with the Korean unit waiting for the final approval from the nation’s ICT Ministry. BMW Korea said on July 26 that the self-parking feature, called Park Assistant Plus, will be offered first in the flagship 7 Series sedan this year and then other models such as the smaller 5 Series in phases. The self-parking system -- the first of its kind globally -- allows owners to maneuver their 7 Series i
July 26, 2016
-
Opposition party seeks to introduce US-style class action
[THE INVESTOR] Opposition parties are seeking the introduction of US-style class action in South Korea prompted by Volkswagen’s emissions scandal. On July 26, progressive heavyweight Rep. Park Young-sun of the main opposition The Minjoo Party of Korea submitted a proposal for the introduction of “class action act.” Rep. Park Young-sun(right) of The Minjoo Party of Korea proposes the introduction of class action act. / The Investor(Park Hae-mook) “Like the Volkswagen case, (cases in which) it is
July 26, 2016