Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Korea enters full election mode
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Chung foundation launches education program for poor
The Chung Mong-koo foundation of Hyundai Motor Group has set up an educational program dubbed “On Dream School.”The program is designed to foster outstanding figures among students from underprivileged households, Hyundai Motor said in a statement.Its main functions will include providing students ― from elementary to college ― with scholarships and opportunities for high-quality education.On Thursday, the social foundation signed a pact with the Ministry of Education, Science and Technology on
March 15, 2012
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Hyundai Motor’s Veloster sales brisk in U.S. market
Hyundai Motor saw its U.S. sales of Veloster, a three-door sports car, jump last month on the back of the company’s Super Bowl advertisement.The company’s sales of the Veloster came to 3,240 units in the United States in February, up 91.4 percent from a year earlier.The Hyundai vehicle is vying for the top place in the sport compact segment with BMW’s Mini Cooper and the Fiat 500, which posted sales of 3,686 units and 3,227 units, respectively.The Veloster made a sensation in October last year,
March 13, 2012
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Hyundai city car gains popularity in India
Hyundai Motor’s Eon is gaining popularity in India, becoming one of the five best-selling cars in the emerging market.The automaker saw sales of the Eon, a hatchback city car, surpass 10,000 units last month for the first time since its launch in India last September.With 10,480 units, the Eon ranked fifth in sales. The top four best-selling models were Maruti Suzuki’s Alto, Swift, Dzire and Wagon R. Hyundai’s Eon features an 800cc engine, and was launched in the local market in October, with sa
March 12, 2012
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Porsche looks to sell more 4-door cars
Korea rises to 3rd in terms of new car sales of the premium sports car makerPorsche enjoyed a record year in sales driven by their non-sports models.“The great thing that happened was the Cayenne, which was introduced here in Korea in June 2010, and that hit the sweet spot of the customers here,” said Porsche president in Korea Michael Vetter.The sports car company has been in Korea since 1986 but suffered tremendously during the financial crisis that hit the country from 1997-98.In 2000, Porsch
March 12, 2012
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Automakers snazz up small cars to lure wary buyers
The small cars premiering at the Geneva Motor Show last week were not the boxy fuel-savers of yesteryear.European automakers have downsized SUVs and put all the luxury they can into premium subcompacts as they seek to dazzle consumers back into confidence after years of crisis.European manufacturers are facing one of their toughest seasons yet. Unemployment and austerity measures have made consumers in Europe skittish, factories are idle, and yet there is little automakers can do to close plants
March 11, 2012
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Mercedes-Benz reveals design revamp with new A-Class
Mercedes-Benz unveiled a radical redesign of its A-Class vehicles on Tuesday, the first in a series of facelifts for the German luxury automaker’s fleet. The sleek, sporty look of the new A-Class contrasts sharply with its dowdy predecessor, favored by the over-50s since it was launched more than a decade ago. “We’re looking for younger and more female customers,” said Dr Dieter Zetsche, the chief executive officer of Mercedes’ parent company Daimler. The customer reaction so far had been positi
March 11, 2012
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Will FTA boost U.S. car sales here?
GM, Ford, Chrysler seek to attract consumers by lowering price tagsChrysler was the biggest-selling U.S. auto brand in Korea last month excluding Chevrolet of GM Korea. But Chrysler’s sales ranking among all import brands, including the likes of BMW and Mercedes-Benz, was just eighth.Further, its February sales of 301 units included Jeep and Dodge vehicles as well as Chrysler sedans. Ford, including the Lincoln brand, ranked 10th with 230 units while Cadillac of General Motors was 18th with 59 u
March 11, 2012
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Hyundai chief stresses creativity
Chairman Chung wins award for ‘2011 Top Manager in the World’Hyundai Motor chairman Chung Mong-koo reiterated that the company should make a breakthrough in Europe with unique strategies.Chung, who is visiting the 82nd Geneva International Motor Show in Switzerland, called for Hyundai’s European corporations to cope with the European crisis with a creative mindset.Chung was quoted by Hyundai executives as saying, “Though the European market is the origin of the global economic slowdown, Hyundai
March 7, 2012
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Mitsubishi, Citroen, Fiat to reenter Korea
Three foreign automakers will soon make inroads into Korea as the nation’s import car market continues to expand.Mitsubishi Motors and Citroen have decided to reenter Korea in March and April, respectively. Fiat is fine-tuning the timing of its advancement.Mitsubishi Motors will resume sales in the local market in mid-March after a year-long hiatus.Its official importer and distributor has been changed to CXC Motors from the former MMSK.CXC Motors is poised to open large showrooms for the Japane
March 6, 2012
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Hyundai, Kia, BMW to provide vehicles for nuclear summit
Hyundai Motor and its affiliate Kia Motors will help support the 2012 Nuclear Security Summit in Seoul, slated for March 26-27.The two companies delivered 262 vehicles, produced for protocol and guard of the global leaders, to the preparation committee for the summit on Monday.The vehicles included the Equus limousine by Hyundai Motor and the Starex van from Kia Motors, which will be used for the figures from more than 50 countries.The automakers will also run a maintenance team of 70 experts fo
March 5, 2012
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GM to compensate apartheid victims in South Africa
For victims of South Africa’s defunct apartheid regime, it is a financially small, but symbolically important victory over a U.S. corporate icon.This week, car giant General Motors agreed to pay up to 1.5 million dollars to a group of more than 20 South Africans who suffered torture, arrest and other forms of harassment at the hands of the regime.The claimants are suing the car company and four other global firms for their allegedly crucial role in supporting white-minority rule ― which ended in
March 4, 2012
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Finesse on four wheels
Aesthetics are always subjective. How would you choose the supercar of your dreams among Lamborghini, Ferrari, Maserati or Bentley?Gone are the days when the wealthy would ogle a Mercedes Benz or BMW above all else. High-end customers are increasingly eyeing built-to-order, traffic-stopping beauty rarely seen in most neighborhoods.“I have compared Lamborghini Aventador, Maserati Quattroporte and Porsche 911 and decided to settle on the 911. I can get technical about the decision process, it is c
March 4, 2012
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Hyundai, Kia cars post record sales in U.S.
Hyundai Motor and Kia Motors saw their February sales in the U.S. market reach an all-time high.Hyundai Motor sold 51,151 units last month in the U.S., up 18 percent from 43,533 units a year earlier. It is a record-high performance for the carmaker’s February sales.Sales of the Sonata and Avante, called the Elantra in the U.S., came to 17,425 and 13,820 units, respectively.Kia Motors, an affiliate of Hyundai Motor, reported 37.3 percent growth with sales of 45,038 units in the world’s biggest au
March 2, 2012
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Hyundai Motor family firms up grip on group
Hyundai Motor Group chairman Chung Mong-koo and his son Eui-sun have been expanding their presence in the group’s subsidiaries.Chairman Chung is to take on the role of a standing director in Hyundai Engineering & Construction, which was acquired by the automotive group in March 2011, Hyundai Motor said Wednesday.Last Friday, Chung Eui-sun, Hyundai Motor vice chairman and Kia Motors president, was named a standing director of Hyundai-Steel.According to Hyundai spokespeople, their direct involveme
Feb. 29, 2012
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Kia reveals K9 design
Kia Motors unveiled the exterior design of the K9, a luxury premium sedan, on Tuesday.“Its design features futuristic and high-end technology,” the company said in a statement. The car will officially be launched sometime before July.The sedan, which is expected to compete with Hyundai Motor’s Equus and Genesis sedans in sales, is an upper series of Kia Motors’ K7 and K5 sedans. K9 is the latest product of Kia’s evolving design approach, carrying its signature radiator grille, bold “high-tech lu
Feb. 28, 2012
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U.S. court tentatively denies Toyota arbitration for acceleration cases
A judge ruled tentatively that Toyota Motor Corp. can’t force named plaintiffs in a purported class-action lawsuit over alleged losses from unintended sudden acceleration to arbitrate their claims rather than proceed to trial. U.S. District Judge James Selna in Santa Ana, California, said in a tentative ruling on Friday that Toyota waived its right to compel arbitration for 15 of the 20 plaintiffs and that, for the remaining five, the carmaker wasn’t a party to the arbitration agreements between
Feb. 26, 2012
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Porsche recalls 100,000 cars worldwide to fix headlights
Porsche was recalling 100,000 of its Cayenne models worldwide to fix a headlight locking system that was at risk of becoming detached, the German car manufacturer said Friday.It will be biggest recall in the history of the company.Owners of the luxury sport utility vehicle, Porsche’s most popularmodel, were to receive letters asking them to take their cars to workshops for a free, 45-minute repair.“The headlight locking system on current 2011 and 2012 Cayenne models is being reworked. In-house q
Feb. 26, 2012
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Car importers cut prices after probe announcement
BMW’s new 3-series 320d slashed by nearly 2.8 million wonEuropean carmakers, which enjoy the largest share of Korea’s import car market, have slashed their prices as the nation’s antitrust regulator launched an investigation into alleged overpricing and unfair business practices.BMW, the largest player here with 25 percent of the import market, rolled out the latest version of its flagship 3-series, the 320d diesel, on Thursday in the 45 million won to 56.5 million won range, down about 2.8 mil
Feb. 26, 2012
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BMW Korea aiming for 15% sales rise in 2012
The chief executive of BMW Group Korea, the local importer and distributor of BMW AG, said Friday that the German carmaker expects a 15 percent jump in its sales in 2012 from a year earlier on the back of its popular models.“Last year we sold some 27,000 units of BMW and Mini models. We expect the sales of BMW brand cars to rise 13 percent and Mini sales to soar by 40 percent,” Kim Hyo-joon said in a press conference.“Adding the sales of 1,000 units of Motorrad bikes, BMW Korea will see a 15 per
Feb. 23, 2012
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Honda recalling 46,000 vans to fix rear doors
2010 Honda Odyssey minivans sit on display at AutoPark Honda dealership in Cary, North Carolina, U.S. (Bloomberg)DETROIT (AP) _ Honda is recalling nearly 46,000 Odyssey minivans in the U.S. because the rear doors can fall on people unexpectedly, and have on at least two occasions.The problem affects
Feb. 23, 2012