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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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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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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S. Korean auto market to shrink this year: think tank
[THE INVESTOR] South Korea’s automobile market will shrink for the first time since 2013, the Korea Automotive Research Institute forecast in a report on July 21.The Hyundai Motor Group’s think tank estimated an 8.7 percent drop in domestic sales during the second half of the year, offsetting the large increase seen in the first six months of the year. Hyundai, Kia cars wait to be shipped at a port in Ulsan.According to the institute’s estimates, the year-on-year drop expected in the second half
July 21, 2016
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Kumho Tire relaunches premier league marketing campaign
Kumho Tire has signed a two-year partnership with Tottenham Hotspur starting from the 2016-17 season, it announced Wednesday. At a ceremony held at Hotspur Way in London on July 19 local time, Kumho Tire CEO Lee Han-seob shook hands with club manager Mauricio Pochettino, celebrating the launch of the partnership with the English soccer club. Players including Son Heung-min and Christian Eriksen attended the event. (Tottenham Hotspur)“We are thrilled to be working with such a prestigious and glo
July 20, 2016
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Filters in Hyundai Mobis, Cuckoo products found to release high levels of OIT
[THE INVESTOR] Vehicle air-conditioning system filters sold by Hyundai Mobis and those used in Cuckoo’s air filtration units have been found to release potentially toxic levels of octylisothiazolinone (OIT), the Ministry of Environment said on July 20.According to the ministry, two types of filters used in the Cuckoo products and Hyundai Mobis products released OIT at levels that could be harmful to the human body. The filter sold by Hyundai Mobis is produced by 3M, which has announced recall pl
July 20, 2016
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Hyundai Mobis opens logistics hub in Belgium
[THE INVESTOR] Hyundai Mobis has built a central logistics center in Belgium to serve as the logistics hub in Europe, it announced on July 20. Spread over 56,000m² in Beringen in northern Belgium, the center will receive parts daily and distribute them to regional centers in UK, Germany, Spain, Italy, Sweden and Hungary. The inside of Hyudai Mobis's Belgium central logistics center / Hyundai MobisSouth Korea’s largest auto parts supplier has been delivering motor parts for after service three ti
July 20, 2016
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Hyundai Mobis eyes non-Korean carmakers for growth
[THE INVESTOR] Hyundai Mobis, South Korea’s largest automotive parts supplier, aims to target American and Japanese automakers to widen its business beyond local affiliates Hyundai Motor and Kia Motors. Hyundai Mobis, which is highly dependent on local automakers, plans to increase sales of its auto parts to non-Korean manufacturers by 1.5 times by 2025, local news reported on July 25. According to reports, Hyundai Mobis’ overseas sales account for only about 10 percent of total sales, while the
July 20, 2016
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Imported car registrations cross 1.5 million in Korea
[THE INVESTOR] The number of registered imported automobiles broke the 1.5 million mark in June, industry data showed on July 20. The country’s automobile market was opened to foreign brands in 1987. According to automotive industry organizations, the number of imported vehicles registered in South Korea came to just over 1.52 million units in June, up 1.7 percent from the previous month. In comparison, the number of all vehicles registered in Korea came to about 21.37 million units at the end o
July 20, 2016
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GM Korea union to strike on July 22
[THE INVESTOR] GM Korea’s labor union will stage a partial strike on July 22 under directions from the Korean Metal Workers’ Union. The KMWU is a subgroup of the hardline umbrella union Korean Confederation of Trade Unions. The GM Korea branch of the KMWU said on July 20 that it will set up a committee for strikes, and that a four-hour strike will be staged on July 22 at the company’s plant in Incheon. The striking union members will then join the KMWU rally outside the National Assembly. GM Kor
July 20, 2016
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FTC plans to file suit, fine Volkswagen Korea
[THE INVESTOR] South Korea’s antitrust agency has decided to press criminal charges against the former and current executives of Volkswagen Korea for deceiving customers with false advertisements in the German automaker’s emission rigging scandal. It also plans to fine the automaker a maximum of 88 billion won (US$ 77.02 million). The Fair Trade Commission has sent the assessment report to VW Korea, stating it has decided to sue 10 executives, including Johannes Tamer, the CEO of Audi Volkswagen
July 20, 2016
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Hyundai Genesis G90 to top 20,000 units
[THE INVESTOR] Hyundai Motor says it is close to selling 20,000 units of the flagship sedan G90 from Genesis, the newly launched luxury brand by the South Korean auto giant, Herald Business reported on July 19. According to newspaper, a total of 17,069 units of G90 -- which is sold as EQ900 in South Korea -- were sold as of June 30 since its debut last December. With an average monthly count of 3,000 units, the automaker expects to reach the 20,000 milestone by July, five months earlier than the
July 19, 2016
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Hyundai dealers in China demand compensation
[THE INVESTOR] Dealers of imported Hyundai Motor vehicles in China are seeking compensation from the South Korean carmaker over alleged unfair treatment, China Daily reported on July 18. According to the newspaper, some of the 41 car dealers selling Hyundai Motor vehicles shipped from South Korea to China established a working group to “safeguard their rights” earlier this month.Hyundai Motor’s vehicles are marketed through two channels in China. Vehicles produced by Beijing Hyundai and fully as
July 19, 2016
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SUV, minivan sales set new H1 record
[THE INVESTOR] South Korean carmakers’ SUV and multipurpose vehicle sales hit a new first-half record this year aided by new models, and the tax cut on new purchases, industry data showed on July 19.According to industry figures, 271,523 units of SUVs and multipurpose vehicles produced by local carmakers were sold here during the first six months of the year. Compared to the same period last year, the figure is an increase of 8.7 percent. Kia Motors SorentoThis year’s figure is the highest on re
July 19, 2016
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Korean gov’t to lower cost of EV recharging, develop electric truck
[THE INVESTOR] South Korea will halve the cost of recharging electric cars, and increase investment in related fields as part of its EV development strategy.Under the Ministry of Trade, Industry and Energy’s plans revealed on July 18, the government will also launch R&D programs aimed at doubling EVs’ driving range, and to develop electricity powered small truck with 1 metric ton load capacity. Hyundai Motor's IONIQ“(The government) will speed up providing support in R&D, incentives and other me
July 18, 2016
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Hyundai Motor chief says Genesis, eco-friendly cars key for survival
Hyundai Motor Group’s chairman Chung Mong-koo urged the carmaker’s global office heads to seek a breakthrough in the sluggish markets by strengthening the brand value of its luxury sedan and also by taking a lead in the green car segment.“The company should raise its brand profile in the global luxury car market through the successful launch of Genesis G80 and G90 in the U.S. market,” the chairman told the company’s 60 global office heads at its biannual meeting held on Monday. Hyundai Motor Gro
July 18, 2016
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[Photo News] New Cadillac CT6
General Motors Korea’s chief James Kim (left) poses with GM’s new flagship sedan Cadillac CT6 at its launch event at the Grand InterContinental Seoul on Monday. The price of the sedan, which is slated to go on sale in August, starts from 78.8 million won ($69,000) for the premium model and 95.8 million won for the platinum model. (GM Korea)
July 18, 2016
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Hyundai Motor chief says Genesis, eco-friendly cars key for survival
[THE INVESTOR] Hyundai Motor Group chairman Chung Mong-koo is scheduled to hold a meeting with some 60 heads of overseas operations at the Seoul headquarters on July 18 to discuss ways to elevate the carmaker’s slowing sales. The meeting, held twice a year, comes after the nation’s largest carmaker -- the fifth globally -- suffered a 2.4 percent decline in sales in the first half of this year compared to a year ago. Hyundai Motor Group’s chairman Chung Mong-kooIn the January-June period, Hyund
July 18, 2016
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Hyundai Motor Group’s BRIC output tops 20 million
[THE INVESTOR] Hyundai Motor Group’s accumulated output at its plants located in BRIC nations broke the 20-million mark this year, the carmaker said on July 18.According to the conglomerate, the combined accumulated output at its 12 plants in Brazil, Russia, India and China came to 20.64 million units at the end of the first half of the year. Hyundai Motor Group headquarter in southern SeoulOf the overseas plants, Hyundai Motor and Kia Motors’ plants in China accounted for the largest proportion
July 18, 2016
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Hyundai’s Ioniq EV offers pleasant drive
Amid the growing popularity of hybrid cars among environmentally conscious drivers, Hyundai Motor has gone one step further with the pure electric car Ioniq Electric for those who want a more eco friendly option. The nation’s largest automaker invited the press on Thursday to get behind the wheel, following a driving course based on the concept that an EV driver in Seoul traverses the city from east to west on diverse road conditions such as traffic jams and highways. Ioniq Electric (Hyundai Mot
July 17, 2016
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New Korando Sports presents economical option for campers
[Behind The Wheel] The SUV fad in South Korea is not over yet. Fueled by the popularity of outdoor activities – mainly camping -- sales of such vehicles have grown steadily over the years. However, there have been limited local choices, which often leads to consumers going for high-end foreign vehicles offered at high prices. South Korea’s fourth-largest carmaker Ssangyong Motor, recently rolled out a pickup that it touts as an alternative to an SUV – the Korando Sports 2.2. It is not really an
July 17, 2016
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Hyundai-Kia's EU market share inches up in H1
[THE INVESTOR] Hyundai Motor Group’s market share in the European Union inched up in the first half of the year aided by faster-than average increase in sales, industry data showed on July 15. According to the European Automobile Manufacturers Association, Hyundai Motor and Kia Motors’ first-half sales outpaced the market’s overall growth, and their combined market share came in at 6.1 percent. Hyundai Motor’s market share was 3.2 percent, and that of Kia Motors’ 2.9 percent. In comparison, Kia
July 15, 2016
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Hyundai, Kia see first-half sales in Europe up 12 percent
Hyundai Motor Co. and its smaller affiliate Kia Motors saw their sales in Europe in the first half jump over 12 percent on-year, with their market share exceeding 6 percent, industry data showed Thursday.The two South Korean carmakers sold a combined 491,171 units in Europe in the January-June period, up 12.3 percent from a year earlier, according to the data compiled by the European Automobile Manufacturers' Association.Hyundai Motor sold 261,586 units, up 10.2 percent from a year earlier, whil
July 15, 2016