Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Hybe's multilabel system tested amid conflict with Ador
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Hyundai Motor, Kia aiming for 25 pct improvement in fuel economy by 2020
Hyundai Motor Co. and its corporate cousin, Kia Motors Corp., said Thursday that they will strive for a 25 percent improvement in the fuel economy of their cars by 2020. The "2020 mileage improvement roadmap" calls for revolutionary improvements in the powertrain lineup, measures to reduce the weight of vehicles and the launching of more eco-friendly hybrid, electric-powered cars and hydrogen fuel-cell models. The move comes after Hyundai Motor Group chairman Chung Mong-koo called on the tw
Nov. 6, 2014
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Hyundai Motor's new Aslan flagship raises bar in comfort-oriented sedan segment
Hyundai Motor Co. on Tuesday showed it has raised the bar in the comfort-oriented sedan segment with its all-new Aslan front-wheel drive (FWD) flagship set to reach showrooms across South Korea this month. The car was benchmarked on the Lexus ES 350, and to a lesser extent the Audi A6 TDI. It was designed from the outset to wrestle consumers away from sports-tuned German cars with stiff rides, and offers what the carmaker refers to as "premium comfort" that places the greatest emphasis on a so
Nov. 4, 2014
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Hyundai, Kia shares tumble on weaker yen
Shares of both Hyundai Motor and its affiliate Kia Motors on Monday slid more than 5 percent as the weakening Japanese yen spurred concerns about the profitability of the top Korean carmakers. Following Japan’s announcement of quantitative easing last week, the benchmark KOSPI tumbled 11.46 points, or 0.58 percent, marking its biggest daily percentage drop since Oct. 21. Led by carmakers, manufacturing companies were especially hit hard as they compete with Japanese firms in overseas markets. Hy
Nov. 3, 2014
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Kia Motors CEO resigns over prolonged wage talks
Kia Motors said Friday that it named vice president and chief finance officer Park Han-woo as the company’s new chief executive. The leadership change at the nation’s second-largest carmaker came after former president Lee Sam-woong offered his resignation over the prolonged wage talks that led to several partial strikes over the past few months. The management and union reached an agreement on Oct. 28. Since the first talks started in May, the union staged walkouts for a total of 96 hours, due
Nov. 2, 2014
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Porsche dealer CEO Vetter named honorary Seoul citizen
Michael VetterMichael Vetter, CEO of Stuttgart Sports Cars, an official Porsche dealer in Korea, was recently named an honorary citizen of Seoul. According to the company, Vetter, one of the longest-serving CEOs in the nation’s import car industry, received the citizenship certificate from Seoul Mayor Park Won-soon on Wednesday.The citizenship is conferred annually on up to 10 foreign nationals who have lived here for at least three years and found to have contributed to the city’s development,
Nov. 2, 2014
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Air-bag recall expands again as maker finds part defect
The manufacturer of air bags linked to four deaths made another 30,687 inflators with an incorrect part that can lead to similarly damaging ruptures in newer vehicles, U.S. regulators said, adding to questions about the scope of the defects in Takata Corp. products.Takata will recall the SDI-X inflators manufactured from June 16, 2008, to June 20, 2014, the National Highway Traffic Safety Administration said in a statement on its website. An incorrect outer baffle could cause the unit to rupture
Nov. 2, 2014
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Han Sung Motor helps refurbish traditional market
Aprons designed by Dream Gream students and Seoul Art Space Shindang artists hanging from the ceiling of Seoul Jungang Market. (Han Sung Motor)A group of young students, supported by Han Sung Motor, the largest car dealer of Mercedes-Benz in Korea, have joined hands with local artists for an art project to refurbish a traditional market in Seoul.On Saturday, hundreds of colorful aprons were hanging from a ceiling of Seoul Jungang Market, one of the oldest markets in central Seoul. It was a colla
Nov. 2, 2014
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Mercedes follows BMW, Audi to motorbikes with Agusta stake
Mercedes-Benz is buying 25 percent of Italy’s MV Agusta Motor SpA as it follows luxury-car competitor BMW and Audi into the motorcycle market.Mercedes signed a long-term marketing and distribution partnership together with the stake purchase, the unit of Stuttgart-based Daimler AG and the Varese-based motorcycle-maker said in a statement Friday. The companies did not disclose the financial terms.Mercedes once had a marketing partnership with motorcycle-maker Ducati, which ended when Volkswagen A
Nov. 2, 2014
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Hyundai launches Aslan sedan
Hyundai Motor’s new sedan Aslan made its debut Thursday targeting the more affluent clientele on the Korean auto giant’s home turf, where premium German vehicles dominate the high-end segment. “We felt sore seeing our Sonata and Grandeur drivers choose German luxury brands as their next step-up cars,” said Hyundai Motor president Kim Choong-ho during a launch event held at the Dongdaemum Design Plaza in Seoul. “The Aslan is out to lure back the customers.” Hyundai Motor president Kim Choong-ho (
Oct. 30, 2014
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GM Korea to compensate Cruze owners for exaggerated fuel economy claims
GM Korea Co., the South Korean unit of U.S. auto giant General Motors Co., has outlined a plan to compensate owners of its Cruze compact for exaggerated fuel economy claims, the government said Wednesday. The transportation ministry said it recently received a plan from the country's third-largest original equipment manufacturer, stating that the combined mileage for the 1.8-liter version of the compact front-wheel drive car did not meet the stated 12.4 kilometers per liter of fuel. The Cru
Oct. 29, 2014
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Ssangyong X100 in final stages
PYEONGTAEK, Gyeonggi Province ― Excitement was clearly visible on the faces of employees working at the assembly lines of Ssangyong Motor’s production plant in Pyeongtaek, some 70 kilometers south of Seoul. This was because at one of the lines that are dedicated to the carmaker’s hot-selling Korando C sport-utility vehicle, test-production of the pilot models of the upcoming new compact SUV ― project name X100 ― is in full gear. After its stylish concept model was unveiled at the Paris motor sho
Oct. 29, 2014
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Foreign brands likely to claim 27% of car market by 2020
Foreign-brand cars will see their combined market share surge to 27 percent in Korea by 2020, Marketing Insight, an automotive market research firm, said Tuesday in a report. The report predicted that foreign brands would continue to expand their market share in the coming years to claim 20 percent by 2016 and 27 percent by 2020. “Considering the outlook is based on conservative conditions, it is also likely that the 27 percent market share could be reached earlier than expected,” the report add
Oct. 28, 2014
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Foreign carmakers bet big on building brand in Korea
Foreign carmakers, having enjoyed success in the South Korean market in recent years, are now pouring more resources into image building. Largely driven by German carmakers like BMW, Mercedes-Benz and Volkswagen, the import car market more than doubled to 156,497 vehicles over the past five years. In 2013, their sales cornered 12 percent of the market where the powerful Korean duo ― Hyundai Motor and Kia Motors ― dominate with almost 70 percent of car sales.Having extended dealership and after-s
Oct. 26, 2014
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Ghosn expects more recalls as carmakers fight for buyers
Consumers can expect more auto recalls as manufacturers work to keep customers happy and ensure minimal fuss over quality issues, says Carlos Ghosn, chief executive officer of Nissan Motor Co. and Renault SA.“Everybody is particularly focused on the fact that they are fighting so hard to get the consumer for their brand, so they don’t want to lose him for a quality problem,” Ghosn said in an interview in Shanghai. “What you are seeing today is a tendency from all carmakers to recall the cars eve
Oct. 26, 2014
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S. Korean tapped to head global car manufacturers organization
The head of South Korea's Korea Automobile Manufacturers Association (KAMA) was picked Thursday as the new chairman of an international body tasked with sharing of information among leading carmakers around the world. Kim Yong-geun was named to head the Paris-based International Organization of Motor Vehicle Manufacturers, better known by its French acronym OICA, at the group's latest roundtable general assembly underway in Seoul. He is the first South Korean national to take the post and wi
Oct. 23, 2014
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Carmakers wary of Korea’s sunroof safety investigation
Global carmakers may soon have to revise their sunroofs as related safety standards are expected to be toughened in the coming years following the South Korean government’s recent findings about ceramic coating weakening glass. According to the Ministry of Land, Infrastructure and Transport on Wednesday, a team of local researchers found last year that ceramic coating, which is widely used to reduce noise and store heat, can weaken the glass used for the sunroofs. The new findings came as consum
Oct. 22, 2014
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Kia holds largest-ever global dealers’ meeting in Seoul
Kia Motors is holding its largest-ever gathering of global dealers in Seoul this week, with more than 260 representatives from the carmaker’s global operations and dealers from 110 countries in attendance. The five-day event, which kicked off Monday and continues through Friday, consists of business meetings; test-drives of new models; visits to Kia’s R&D center and the Dangjin factory of Hyundai Steel, the steelmaking unit of Hyundai Motor Group; and cultural programs.A business conference will
Oct. 20, 2014
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Hyundai R&D Motor Show inspires suppliers, rivals
HWASEONG, Gyeonggi Province ― Nearly 100 vehicles were displayed last week at Hyundai Motor Group’s research and development center in Hwaseong, Gyeonggi Province. Along with the latest models of Hyundai Motor and its smaller affiliate Kia Motors, half the vehicles were carrying the badges of global carmakers like Volkswagen and BMW.The Korean auto giant purchases new cars on the market every year to take a closer look. Unlike its rivals, which usually commission a small group of R&D staff for a
Oct. 19, 2014
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Porsche Korea starts maintenance campaign
Porsche Korea will launch a maintenance service campaign for classic car owners to help enhance their Porsche experience, officials said Sunday. According to the Korean unit of the German sports carmaker, any Porsche models registered before 1999 and the 989 Boxster and the 996 (now the 911) cars are subject to the campaign ― the Best Ownership Experience ― that starts Monday and continues through Nov. 8. “The service is aimed to give drivers a chance to drive Porsches at their highest performan
Oct. 19, 2014
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Ferrari fans sue Facebook, carmaker
A Swiss father and his son who gained millions of Facebook followers through their Ferrari SpA fan pages sued the social media company and the carmaker claiming they teamed up to illegally seize control of the websites.The lawsuit filed in California state court follows earlier legal spats in Europe between Olivier and Sammy Wasem and the sports car company over their “Ferrari Fan Page” and a separate “Formula 1 Vision” page.“Ferrari wanted it,” the Wasems said in a complaint filed Oct. 14 in Sa
Oct. 19, 2014