Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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Tesla to enter Korea with Model 3
Tesla’s CEO hinted on Twitter on Friday that the U.S. luxury electric vehicle maker will enter the Korean market with the new Model 3, which is the firm’s first mass-market brand. (Elon Musk's Twitter)In reference to the countries where preorders of the 2017 Model 3 will be available, Tesla CEO Elon Musk made it clear that Korea is one of the seven countries.There have been rumors over the entry of Tesla into the Korean market since last December when the EV maker reportedly signed a contract f
April 1, 2016
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GM Korea's March sales up 3.4%
GM Korea Co., the local unit of U.S. carmaker General Motors Co., said Friday that its sales in March grew 3.4 percent from a year earlier, driven by strong demand from the domestic market.The carmaker said in a press release that it sold 56,144 units last month, compared with 54,305 units a year earlier.Its domestic sales rose 27.6 percent on-year to 16,868 units, with sales of its Spark city car spiking nearly 90 percent to a record high of 9,175 units.The company's overseas shipments, however
April 1, 2016
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Audi Korea says payment of tax refunds to Korean customers under way
The local unit of Audi, the luxury brand of German carmaker Volkswagen, said Friday that it is in the process of paying tax refunds to its customers, dismissing criticism over its alleged refusal to follow the government's changed tax policy, which recently led to some lawsuits demanding compensation. In its emailed statement, Audi Korea said that it has notified all of its dealerships here about the government's decision to extend a tax cut for new car purchases and that they are paying refund
April 1, 2016
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AmorePacific chief sees more growth potential in China
The head of AmorePacific Co., South Korea‘s top cosmetics company, has reaffirmed his commitment to the Chinese market, saying he sees more room for growth among middle-class consumers there.“By 2020, the middle class population is expected to reach 500 million, and its size and influence will greatly expand in the next decade,” AmorePacific CEO Suh Kyung-bae was quoted as saying during a monthly meeting with senior company officials earlier this month.AmorePacific has been showing stellar perfo
March 31, 2016
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Lotte Rental holds most rental cars in Asia
Lotte Rental, the car rental service unit under Lotte Group, said Thursday that it had the most cars of any Asian rental firm, including Japan’s Toyota Rent-a-Car. Compared to the Japanese company’s 110,000 units, Lotte boasts 130,000 units as of last year, ranking first in Asia and sixth globally, according to the Korean car rental association. Lotte Rental’s promotion poster Lotte RentalLotte said it aims to rank fourth globally by 2020. Lotte has retained its No. 1 position domestically, hav
March 31, 2016
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[Photo News] BMW's new maxi scooters
BMW’S NEW MAXI SCOOTERS -- BMW Korea unveiled its new maxi scooters C 650 Sport and C 650 GT at the opening of the 1st Seoul Motorcycle Show in Coex on Friday. Prices start from 15.9 million won ($13,900) and 16.5 million won, respectively. (BMW Korea)
March 31, 2016
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Government to support self-driving cars
(Yonhap)The government plans to establish a new team under the Transportation Ministry to exclusively support self-driving and eco-friendly cars, according to officials Wednesday. The ministry said it plans to create a high-tech auto technology division in May at the latest, with the aim of backing the autonomous and eco-friendly vehicle industry, which is still at a nascent stage here. “We plan to separately manage autonomous car technologies, which have so far been supervised together with oth
March 30, 2016
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Mercedes-Benz Korea slapped with W50b in additional corporate tax: report
Tax authorities in Seoul have slapped Mercedes-Benz Korea with an additional corporate tax of 50.1 billion won (about $43 million), according to a local news report on Tuesday.Citing unnamed industry sources, Yonhap News reported that the National Tax Service notified the German carmaker’s Korean unit of its decision to impose the additional tax after its recent tax investigation into the company.In response, the carmaker has requested a review of the legality of the imposition before taxation,
March 29, 2016
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Mercedes-Benz Korea to face prosecution probe
The Korean Transportation Ministry has filed a complaint against the Korean unit of German carmaker Mercedes-Benz with the prosecution on charges of having installed automatic transmissions without proper authentication procedures, officials said Tuesday. The ministry said it filed a complaint with the Seoul District Prosecutors’ Office against Mercedes-Benz Korea’s chief Dimitris Psillakis, accusing him of violating the automobile management act and clean air conservation act. The carmaker fail
March 29, 2016
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Kia Motors aims to sell 40,000 hybrid SUV Niro this year
Kia Motors launched its first hybrid compact sport utility vehicle Niro on Tuesday, targeting sales of 40,000 units worldwide this year. “We have set a goal of selling 18,000 units of Niro domestically and 20,000 cars globally, targeting young singles and couples in their 20s and 30s,” said Kim Chang-sik, executive vice president of domestic sales, at the launch of Niro in Seoul. Kia Motors president Park Han-woo (right) and executive vice president Kim Chang-sik pose at the launch of compact S
March 29, 2016
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Complaint filed against Benz Korea for wrong car specification
The Korean transport ministry said Tuesday that it has filed a complaint against Mercedes-Benz Korea for selling cars with wrong specifications.The local unit of the German car brand sold 98 units of the S350d series sedan with a nine-speed automatic transmission since Jan, 27, 2016, but the vehicles were labeled as having a seven-speed transmission, according to the Ministry of Land, Infrastructure and Transport.The company sold upgraded models of S350d sedans in January but missed reporting th
March 29, 2016
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Card-based spending jumped 8.8% in 2015
Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday.The card-based expenditure reached 667.1 trillion won ($572 million) in 2015, up from 613.2 trillion won the previous year. A 16 percent increase in debit, or check, card spending outweighed a 7.1 percent rise in credit card spending last year, the Financial Supervisory Servic
March 29, 2016
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Hyundai Motor promotes investment roadmap to U.S. lawmakers
Hyundai Motor Group chairman Chung Mong-koo and other high-ranking officials presented the firm’s investment and research & development roadmaps for future mobility to a visiting U.S. congressional delegation, the Korean automotive giant said in a statement Monday. The five-member delegation led by Sen. Deb Fischer visited the Namyang R&D Center of Hyundai Motor Group, the heart of the Korean auto giant’s new car design and development. Other members included Sen.Thad Cochran, Sen. John Barrasso
March 28, 2016
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Kia Motors' K7 sales top 25,000 units
Kia Motors's all-new K7 sedan has been receiving quite a strong market response with its cumulative sales exceeding 25,000 units since its debut earlier this year, industry data showed Monday.Since its debut in mid-January, the cumulative contrasts, including preorders for the second-generation K7, came to over 25,000 units as of Friday, according to the data. At this pace, the figure is expected to reach around 28,000 units by end-March. KIA K7 sedan (Yonhap)The K7 emerged as the best-selling m
March 28, 2016
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GM Korea's Impala sales top 10,000 units in 6 months
GM Korea, the local unit of U.S. carmaker General Motors, said Monday that it has sold more than 10,000 units of the Impala here in the six-month period since its debut last year.From its launch in September until January, the Impala's cumulative sales stood at 9,719 units. Then, in the middle of last month, they exceeded the 10,000 mark, according to the company. GM Korea Impala (Yonhap)GM Korea unveiled the Impala with an aim to take over Hyundai Motor's Grandeur, the leader in the large-size
March 28, 2016
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[Photo News] BMW-SNU Partnership
BMW-SNU PARTNERSHIP -- BMW Korea CEO Kim Hyo-joon (right) shakes hands with Lee Kun-woo, dean of the engineering college at Seoul National University, after signing an agreement to work together on driverless technology and to provide internships to college students in a ceremony at the univeristy in Seoul on Friday. (BMW Korea)
March 27, 2016
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[Photo News] Genesis sports sedan
GENESIS SPORTS SEDAN -- Hyundai Motor unveiled the “New York” concept of Genesis at the New York International Auto Show on Wednesday. The hybrid sports sedan concept of the automaker’s luxury brand with 245 horsepower has 2.0-liter hybrid drive system coupled to an eight-speed automatic transmission. (Hyundai Motor)
March 27, 2016
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Hankook looks beyond tire business
INCHEON/SEOUL -- For a global tire-maker supplying its high-end products to global luxury carmakers, including Mercedes-Benz and BMW, for sure, the next target will be performance-driven super car brands like Ferrari.Seoul-based Hankook Tire, the world’s seventh largest tire manufacturer in terms of sales follows the growth formula in the industry by supplying its ultra-high performance tires and winter tires to BMW’s new 7-series sedans from this year. The Korean tire-maker has also supplied it
March 27, 2016
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Renault Samsung to target niche market
The new head of Renault Samsung Motors vowed to focus on niche markets, such as compact sports utility vehicles this year, rather than jumping into direct competition with local giants.“We should be in a different (business) position from other rivals in the local market instead of playing on the playground built by Hyundai Motor,” said Park Dong-hoon, who took office last week as the new chief of the French carmaker Renault’s Korean unit.Renault Samsung's new chief executive Park Dong-hoon (Ren
March 27, 2016
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Hyundai aims to sell 250,000 units of new Elantra in China
South Korea’s top automaker Hyundai Motor rolled out its new mid-compact car Elantra in the Chinese market, setting a goal of selling 250,000 units this year. Naming the new car Lingdong for Chinese consumers, the company unveiled the vehicle at the Shanghai New International Expo Center on Friday and began selling it on the day. Hyundai Motor said it aims to sell more than 250,000 units of its new mid-compact in the nation this year, targeting Chinese customers in their late 20s and early 30s.C
March 27, 2016