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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Korea enters full election mode
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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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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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Immigrant woman stabbed to death by Korean husband
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Seoul’s bus union prepares for strike
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Kia global sales to hit 30m milestone in May
Kia Motors’ global sales are expected to top the 30 million mark this month for the first time since it launched its first vehicle in 1962, the country’s second-largest carmaker said Monday. The carmaker, operating under the wing of Hyundai Motor Group since 2000, said accumulated sales stood at around 29.93 million units as of late April. Considering that Kia has sold an average of 260,000 vehicles per month this year, the company said it is most likely to reach the significant 30 million miles
May 19, 2014
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[Photo News] Fifth-Gen C-Class
Mercedes-Benz Korea will unveil the fifth generation of its New C-Class at the Busan International Motor Show in June. Four models including two gasoline-powered vehicles ― the New C200 and the C200 Avantgarde ― and two diesel-based sedans will be introduced. (Mercedes-Benz Korea)
May 19, 2014
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Offering more than luxury
Gone are the days when wealthy Koreans would ogle at a Mercedes-Benz or BMW.High-end customers with dough are now turning their eyes to supercars worth more than 200 million won ($195,000).For Italian sports car maker Ferrari, the growth rate in Korea is faster than in Japan, its CEO Luca di Montezemolo told Korean reporters during the Geneva Motor Show in March. In Japan, one of the top-selling markets in the world for supercars, Ferrari sales increased almost 20 percent last year. Even though
May 18, 2014
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GM recalls record 11.2 million cars in U.S. this year
General Motors Co., recalling an additional 2.7 million vehicles for potentially faulty brake lights and other issues, pushed its total number of cars and trucks called back for repairs in the U.S. this year to 11.2 million, the most ever for the automaker.The 2014 total through mid-May is more than GM recalled during the previous six years combined, according to National Highway Traffic Safety Administration records. The Detroit-based company’s previous peak year for recalls in the U.S. was 10.
May 18, 2014
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Hyundai, Kia see 10% rise in China sales through April
Hyundai Motor, South Korea’s leading automaker, and its smaller affiliate Kia Motors Corp. posted a 10 percent rise in their sales in China in the first four months of the year, driven by rising demand for their small passenger cars and sport utility vehicles, industry data showed Sunday.The two automakers sold a combined 582,890 units in the neighboring country in the January-April period, up 10.1 percent from a year earlier, according to the data.Their market share also rose 0.2 percentage poi
May 18, 2014
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A savvy bike for the savvy rider
Elaine Ramirez test-rides on the BMW Motorrad R nineT in Gwanghwamun, central Seoul. (BMW Korea)With a sleek body, smooth transmission and a muscular engine that masters all conditions, it’s got the looks, the moves and the charm: There’s no denying that the new BMW R nineT is a sexy, sexy motorcycle.It’s clear that BMW Motorrad, the motorcycle arm of the German carmaker, has paid extreme attention to detail to blend design and engineering on its newest boxer twin, which rolled out last year to
May 11, 2014
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Battery-supply deal for Toyota RAV4 EV to end: Tesla
Tesla Motors Inc., the electric-car maker planning to build the world’s largest battery plant, said its deal to supply Toyota Motor Corp. with battery packs and motors for a rechargeable crossover will conclude this year.Toyota, which owns a 2.4 percent stake in Palo Alto, California-based Tesla, said in May 2012 it would buy the company’s components for 2,600 electric RAV4 EVs over three years. Elon Musk, Tesla’s chief executive officer, had said he expected Toyota to extend the agreement that
May 11, 2014
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China car sales up 13% as restrictions spur demand
Passenger-vehicle sales in China rose 13 percent last month as consumers brought forward purchases in anticipation more cities will implement ownership restrictions to fight pollution and congestion, according to an industry group.Retail deliveries of cars and multipurpose and sport-utility vehicles climbed to 1.5 million units in April, the Passenger Car Association said today in a statement. That compares with the 1.56 million median estimate of five analysts surveyed by Bloomberg News.Six Chi
May 11, 2014
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Hyundai Motor seeks to recover lost U.S. share with new models
Hyundai Motor Co.’s U.S. operations will recover the market share it lost during the past two years as it takes the constraints off its global factory output and boosts production, the automaker’s top American executive said.“We want to go back above a 5 percent market share,” Dave Zuchowski, Hyundai’s U.S. chief executive officer, said in an interview today. “That’s a top priority for the parent company. In reality, that’s probably a two- or three-year plan.”Hyundai, which almost doubled its U.
May 11, 2014
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Imported car sales up 25.5 percent on-year in April
Imported car sales in South Korea jumped 25.5 percent on-year in April, helped by better supply and promotional programs, a Korean trade association said Friday.A monthly record of 16,712 new foreign-made cars were sold in the one-month period, compared with 13,320 units a year earlier, the Korea Automobile Importers and Distributors Association said.Annual foreign car sales hit a record high of 156,497 units in 2013. The latest tally also showed a 6.2 percent increase in car sales vis-a-vis Mar
May 9, 2014
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New Hyundai Genesis gets IIHS Top Safety Pick award
Hyundai Motor Co.’s brand-new Genesis midsize premium sedan received the best rating in all safety categories tested by a U.S. motor safety institute, the South Korean carmaker said Thursday.The new model won the Insurance Institute for Highway Safety’s “2014 Top Safety Pick+” award by getting the best “good” rating on all 29 safety categories checked, according to Hyundai.The award marks the first time ever that a rear-wheel drive vehicle in the class got the top honor, with the Genesis also be
May 8, 2014
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GM Korea stops taking orders for 2014 Malibu diesel
GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., said Thursday that it stopped taking new orders for its popular Malibu diesel midsize sedan due to supply problems.The 2014 model year car powered by a 2.0-liter motor mated to a six-speed automatic transmission has a combined fuel economy of 13.3 kilometers on a liter of fuel. So far, the carmaker has received some 3,000 orders, which exceeds its ability to make the cars and sell them to customers in a timely manner.The v
May 8, 2014
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Jaguar XF gives security, fun
I am not the most confident of drivers. Every time I get behind the wheel I have a lot of concerns ― from fear of speed, to the sensitivity of the pedals, to judging the weight of the vehicle right. But for an anxious driver like me, the Jaguar XF 3.0 is a delight, settling most of my worries. I took the car out for a test drive twice in Gyeongju, North Gyeongsang Province, and once more on the expressway. The first thing that struck me was the sense of security it gives. Drivers with children w
April 27, 2014
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Tesla pays CEO Musk $70,000 following $78 million year
Elon Musk, chief executive of Tesla Motors Inc. and one of the wealthiest U.S. entrepreneurs, saw his take-home pay from the automaker plunge to less than $70,000 last year, following a 2012 surge in his stock options.Musk, Tesla’s 42-year-old cofounder, received total compensation of $69,989 in 2013, down from $78.2 million a year earlier, the Palo Alto, California-based company said in a filing. The value of stock and options in 2013 was $36,709, down from the previous year’s $78.1 million, wh
April 27, 2014
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Ford profit misses target on recalls, higher costs
Ford Motor Co., beset by higher recall costs and bad weather, earned first-quarter net income of $989 million, down 39 percent from a year ago and less than analysts’ estimates. The shares fell.Ford earned 25 cents a share excluding certain items, trailing the 31-cent average estimate for the first time since 2011. The company attributed the miss to an extra $400 million in warranty and recall expenses, a bigger loss in South America and bad weather in North America. Recall costs are rising acro
April 27, 2014
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Renault Samsung’s retirement applicants short of expectations
Renault Samsung Motors said Friday the number of workers opting for early retirement fell short of expectations, despite management extending the application window by two weeks.The company initiated the “New Start” retirement program for senior assembly line workers from March 10 through April 11, but when only about 20 people applied, it expanded the program to other veteran assembly line workers.“With applications to be concluded today and with numbers falling short of the mark, management pl
April 25, 2014
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Kia Motors earnings jump 11.8% in Q1
Kia Motors, the country’s second-largest carmaker, said Friday its net earnings in the first quarter rose 11.8 percent on-year to 876.3 billion won ($843.9 million), in line with industry forecasts.A hike in car prices, along with increased overseas sales, helped bolster the earnings despite deteriorating business conditions amid a strengthening Korean currency, according to analysts. Operating profit rose 4.5 percent to 735.6 billion won in the same period, with sales numbers rising 7.6 percent
April 25, 2014
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Peugeot Citroen reports sales growth, in pull away from crisis
(AFP) - French carmaker Peugeot Citroen, fighting its way out of crisis with a new Chinese shareholder Dongfeng, reported on Friday a rise in sales in the first quarter of this year.Sales revenue rose by 1.9 percent to 13.3 billion euros ($18.4 billion), despite unfavourable exchange rates, and the number of vehicles sold rose by 7.7 percent from the equivalent figures last year.The number of vehicles sold totalled 726,000, with a boost from the group's two main markets in Europe and in China.PS
April 25, 2014
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Kia Motors earnings jump 11.8% in first quarter
Kia Motors, the country‘s second-largest carmaker, said Friday its net earnings for the first quarter rose 11.8 percent on-year to 876.3 billion won ($843.9 million) to stay in line with industry forecasts.A hike in car prices, along with increased overseas sales, helped bolster the earnings despite deteriorating business conditions amid a strengthening Korean currency, according to analysts. Operating profit rose 4.5 percent to 735.6 billion won in the same period, with sales numbers rising to
April 25, 2014
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Hyundai aims to sell 70,000 subcompact SUVs per year in China
Hyundai Motor, South Korea’s top carmaker, targets annual sales of 70,000 units of its new ix25 subcompact sport utility vehicle in China as it seeks to capitalize on a fast-growing popularity of SUVs in the world’s largest auto market, a company executive said Thursday. Hyundai unveiled the China-focused model at this week’s Beijing Auto Show, where the latest SUVs have drawn the biggest oohs and aahs from urban Chinese customers enjoying bigger-than-ever incomes. Hyundai plans to begin selling
April 24, 2014