Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Renault Captur picked as car of month
The Korea Automobile Journalists Association said Wednesday it has selected compact sport utility vehicle Renault Captur as car of the month. The association has been selecting the best model each month among new vehicles and face-lifted versions that were launched within a month, based on five criteria including exterior, interior design, practicality, safety and comfort features, product marketability and purchasing intent. For the car of the month in June, Audi Q3 and Porsche 9
June 3, 2020
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Imported car sales up 19% in May despite pandemic
Sales of imported vehicles in South Korea rose 19 percent in May from a year earlier as strong demand for German vehicles offset weak demand for Japanese ones amid the coronavirus pandemic, an industry association said Wednesday. The number of newly registered foreign vehicles rose to 23,272 units last month from 19,548 a year earlier, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. "New models released by Audi and Porsche and increased supplies
June 3, 2020
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Hyundai to launch upgraded Santa Fe SUV this month
Hyundai Motor Co. said Wednesday it will launch the upgraded Santa Fe SUV in the domestic market this month to boost sales amid the new coronavirus outbreak. The company has added the face-lifted Santa Fe to its SUV lineup as it strives to offset weak overseas sales with robust local demand for recreational vehicles, a company spokesman said. The COVID-19 pandemic has continued to affect Hyundai's vehicle sales in major markets, such as the United States and Europe, due to local shutdowns a
June 3, 2020
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Equity fund alliance ups stake in Korean Air parent firm
An alliance led by an estranged sister of the Korean Air chairman said Wednesday it has raised its stake in the carrier's parent Hanjin KAL Corp. to over 45 percent in the latest attempt to control airline conglomerate Hanjin Group. The move came more than two months after Chairman Cho Won-tae's elder sister Hyun-ah -- known for her "nut rage" incident in 2014 -- failed to dethrone the chairman of Korean Air Lines Co. and Hanjin Group in a family feud. The three-party alliance that
June 3, 2020
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Airlines cautious about resuming US flights over growing protests
South Korean air carriers that had planned to resume flights to the US this month amid the slow spread of COVID-19 are cautious and taking a “wait and see” approach due to growing protests in the US over the death of an African American man in police custody, according to industry sources Tuesday. Protests against the death of George Floyd and police brutality have spread to over 100 cities since last week. The country’s flag carrier Korean Air’s flight dep
June 2, 2020
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Volvo Truck Korea appoints cargo business expert as new chief
Volvo Truck Korea said Tuesday that Park Kang-seok, who is in charge of its aftermarket business as an executive director, has been appointed its new CEO. Park joined Volvo Truck Korea’s service division in 2006 and has led its service and retail network in Gyeongsang Province since 2014. He has contributed to increasing competitiveness of the company’s core cargo business and rejoined the aftermarket business division last year to offer a differentiated service for cu
June 2, 2020
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Auto sales dip 36% in May amid pandemic
South Korea's vehicle sales plunged 36 percent last month from a year earlier as the new coronavirus outbreak continued to dent demand for cars amid the coronavirus pandemic, with overseas sales hit particularly hard, industry data showed Monday. The country's five carmakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 423,416 vehicles in May, down from 665,136 units a year ago, according to data from the companie
June 1, 2020
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Parent firm to issue W300b BWs to join Korean Air's rights issue
Hanjin KAL Corp., the parent firm of Korean Air Lines Co., said Monday it will issue 300 billion won ($240 million) worth of bonds with warrant (BWs), mainly to participate in the airline's planned rights issue. Hanjin KAL held a board meeting to agree to issue the BWs on July 3, with a maturity of three years, to take part in Korean Air's upcoming recapitalization worth 1 trillion won, planned for late July, the company said in a statement. The holders of BWs will have the right to buy a ce
June 1, 2020
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GM Korea’s RV sales increase by 43.1% in May
GM Korea said Monday that it sold a total of 24,778 vehicles in May, while sales of sport utility vehicles such as the Chevrolet Trailblazer, Equinox and Traverse rose by 43.1 percent on-year. The automaker said of the 24,778 sold, 5,993 units moved domestically, while 18,785 units sold abroad. Subcompact car Chevrolet Spark led May sales with 2,065 units, the company said. A monthly high of 822 Chevrolet Malibu vehicles sold in May. Compact SUV Trailblazer, which the automaker has been
June 1, 2020
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SsangYong Motor sells Seoul service center to improve fiscal health
SsangYong Motor said Monday it has sold an after sales service center located in Guro-gu in Seoul for 180 billion won ($146 million), as part of its efforts to improve its fiscal health. The automaker said by selling noncore assets, it will continue to secure liquidity and focus on increasing competitiveness for product development. In the first quarter this year, its net loss expanded to 193.5 billion won over the economic impact of the COVID-19 outbreak. Its operating loss came
June 1, 2020
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Volvo Cars Korea introduces lifetime warranty service as industry’s first
Volvo Cars Korea said Monday that it has introduced a lifetime auto parts warranty for customers -- the first such guarantee by a carmaker here -- as part of its efforts to improve customer services. The service will allow customers to receive repairs on auto parts that have been changed at its official after sales service center, regardless of the number of times they have received the service and how long they have had the car. Those who have changed auto parts after June 1 and have agree
June 1, 2020
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Hyundai Motor, Hanwha Q Cells sign MOU on old EV batteries for ESS
Hyundai Motor Group said Sunday it has signed a memorandum of understanding with photovoltaic solar cells manufacturer Hanwha Q Cells for energy storage systems to use recyclable batteries from electric vehicles. The two firms held an MOU signing ceremony on Friday, which was attended by Hyundai Motor Group President and head of Strategy and Technology Division Chi Young-cho and Hanwha Q Cells President Kim Hee-chul attended. Amid the expanding ratio of renewable energy use such a
May 31, 2020
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Check your baggage onboard: Korean Air launches mobile app
Korean Air said Friday that it will launch a mobile application service for passengers to check whether their baggage is safely loaded. The service will be provided for passengers on international flights from Incheon International Airport starting June 1. The app prevents errors in loading of the luggage by comparing the barcode information of the baggage transferred during check-in with the scan information onboard an aircraft, the firm said. It is available to any Skypass member who inst
May 29, 2020
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‘Spider Man 3’ to feature Hyundai’s mobility tech
Hyundai Motor Group said Thursday it has clinched a partnership deal with Sony Pictures Entertainment to allow customers experience its future mobility and new technologies via the latter’s platforms such as movies, animations and digital contents. According to the automaker, its latest mobility technology will be featured in Sony Pictures’ movie “Uncharted” and “Spider Man 3,” which will be released in July 2021 and November 2021, respectively.
May 28, 2020
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Creditors call on Korean Air to raise capital following financial aid
Creditors of Korean Air Lines Co. have demanded the cash-strapped airline raise capital of 2 trillion won ($1.62 billion) by end of the next year in return for fresh financial support, officials familiar with the issue said Thursday. The Korea Development Bank (KDB) and the Export-Import Bank of Korea (Exim Bank) recently signed an agreement with South Korea's biggest national flag carrier to extend 1.2 trillion won in new liquidity to help the company hit hard by the coronavirus pandemic. Th
May 28, 2020
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BMW unveils new 5, 6 Series lineup at ‘drive-thru’ world premiere in Korea
INCHEON -- BMW Korea unveiled revamped models of the 5 and 6 series sedans on Wednesday, holding the first world premiere event in the country as a foreign carmaker, which was also BMW Group’s first official event since the COVID-19 pandemic. The carmaker displayed three new versions of the 5 Series and the 6 Series Gran Turismo: BMW New 523d, BMW New 530e and BMW New 640i xDrive. The 5 Series will be presented with a lineup of six gasoline and diesel engine types, including 4-cylinde
May 27, 2020
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Hyundai Mobis to inject W1tr for future mobility this year
Hyundai Mobis, an auto parts making affiliate of Hyundai Motor Group, said Wednesday that it would invest 1 trillion won ($810 million) this year in some 2,000 research and development projects for future mobility, as part of its effort to secure competitiveness as a sustainable company. Under the plan, its workforce for research and development will expand to some 5,000, the company said. Marking the 20th anniversary after changing the company name to Hyundai Mobis, the company mapped
May 27, 2020
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Kia Motors plans micro EV to replace public transport in Europe
Kia Motors’ European subsidiary said Wednesday it plans to launch a micro-size electric vehicle that can replace public transportation amid increased preference for use of private vehicles following the COVID-19 pandemic. “People want to feel safe today. We saw that very clearly from a survey that was done after the coronavirus outbreak in China. People started shifting from public transport to private vehicles. They safer in their own car compared to public transport,” KIA M
May 27, 2020
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[News Focus] International air routes relaunch, but worries linger
South Korean air carriers suffering from the impact of COVID-19 outbreak plan to gradually relaunch their international routes from next month but worries linger over prospects of a business recovery, according to industry sources Tuesday. Low-cost carrier Jin Air said Tuesday that it is resuming five international routes including Incheon-Bangkok, Incheon-Hanoi, Incheon-Taipei, Incheon-Narita and Incheon-Osaka from next month. It comes two months after it suspended the routes over the virus p
May 26, 2020
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All S. Korean auto plants resume this week as Mexico plant reopens
Kia Motors Corp., South Korea's second-largest carmaker, said Tuesday that its plant in Mexico will restart production this week, marking the resumption of operations at all of South Korea's overseas auto plants. The resumption scheduled for Tuesday (Mexico time) comes after Kia Motors put in place all requirements meant to stem the spread of the new coronavirus, a Hyundai spokesman said over the phone. All manufacturers in Mexico are required to check the temperatures of workers, give them
May 26, 2020