Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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Hyundai Motor shareholders freeze exec pay, outline goals
Shareholders of Hyundai Motor Co., South Korea’s No. 1 carmaker, froze the annual salary of company board members and outside directors in a meeting Friday and approved more than 530 billion won ($494.73 million) in dividend payments for last year’s profits.The flagship company of Hyundai Motor Group, the world’s fifth-largest automotive conglomerate, said 1,499 shareholders attended the meeting at its headquarters in southern Seoul and passed a motion reappointing Chung Mong-koo as the company’
March 14, 2014
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Korea makes full-fledged foray into global EV market
South Korea and its leading companies are positioning themselves to compete in the steadily expanding global electric vehicle market, which promises to change the way cars are made and what people and governments need from their vehicles.The domestic unveiling of Kia Motors Corp.’s Soul EV earlier this week, which is competitively priced vis-a-vis its rivals, has better range and looks and drives like a normal combustion engine vehicle, can be seen as a sign that the country’s No. 2 carmaker is
March 13, 2014
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[Photo News] Ferrari 458 Speciale
March 13, 2014
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Hyundai Motor to sell heavy-duty trucks in China
Hyundai Motor Co., South Korea’s top carmaker, said Thursday it will start producing and selling heavy-duty trucks in China this year as it seeks further inroads in the world’s biggest auto market.Production of the Trago luxury cargo and dump trucks will begin as early as June at a new commercial vehicle plant in the Chinese city of Ziyuan, Sichuan province, a company official said.Hyundai and its local partner, China’s Sichuan Nanjun Automobile Co., launched a joint commercial vehicle venture i
March 13, 2014
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Porsche revs up Volkswagen earnings
German automaker Volkswagen is raising its dividend after turbocharged earnings from its Porsche luxury line offset a slip in revenues from mass-market cars.The automaker said Thursday that 2013 operating earnings, which don't count tax and one-time charges, rose slightly to 11.7 billion euros ($16.3 billion) from 11.5 billion euros last year. That was enough for it to raise the dividend to 4 euros per ordinary share, from 3.50 euros.Porsche, maker of the 911 sports car and Cayenne sport-utility
March 13, 2014
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GM Korea to foot bill for Chevy’s Europe pullout
GM Korea Co., the South Korean unit of U.S. automotive giant General Motors Co., is expected to foot the bill for the pullout of the Chevrolet brand from Europe, a corporate source said Wednesday.The confirmation comes after General Motors International Operations, which controls the South Korean company, recently said it set aside $621 million needed to discontinue sales of Chevrolet-badged cars in Europe and halt operations of local sales companies.“GM Korea supplies 90 percent of Chevrolet ve
March 12, 2014
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New full-sized models lead hybrid car sales growth
The growing popularity of newly launched full-sized hybrid cars with high-end amenities and good fuel economy increased sales of overall hybrid cars last month in South Korea, industry sources said Tuesday.Combined sales of hybrid cars made by Hyundai Motor Co. and Kia Motors Corp. hit 2,982 units last month, up almost two-fold from 1,507 vehicles sold a year earlier, the sources said. The numbers are not as high as the record 3,511 hybrid cars sold by the two companies in December 2012, yet the
March 11, 2014
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Pre-sale orders of new Sonata top 10,000 in three days
Pre-sale orders for Hyundai Motor Co.’s new Sonata mid-size sedan topped the 10,000 unit mark in three days, the company said Sunday.South Korea’s largest carmaker said it had received 10,015 orders for the Sonata LF since Wednesday when it started accepting pre-orders. This is the second largest pre-order tally since it started getting orders for the current generation Sonata YF in September of 2009. That model received 12,787 pre-orders in three days.Hyundai said the level of interest shown by
March 9, 2014
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Automakers cautiously upbeat in Geneva as Europe recovers
For Fiat SpA, PSA Peugeot Citroen, Volkswagen AG and others converging at the Geneva International Motor Show, what a difference a year makes. Automakers are showcasing their latest creations, including the Jeep Renegade and Audi TT, as the region’s market pulls out of a six-year slump, with the ACEA industry group predicting European deliveries will rise 2 percent in 2014. Recovery in the auto industry comes as growth in the 18-nation euro area is set to gain 1.2 percent this year and economic
March 9, 2014
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Ford awards CEO $13.8 million in stock for 2013
Ford Motor Co. awarded chief executive officer Alan Mulally $13.8 million in stock for the automaker’s performance last year when its profits grew in North America and sales picked up speed in China. Ford also gave its top executive 613,747 stock options as part of an incentive plan for 2013, according to a filing yesterday with the U.S. Securities and Exchange Commission. Mulally is restricted from selling the 882,352 shares of stock until March 4, 2016. The options, with a strike price of $15.
March 9, 2014
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Diesel-powered CLS, a good fit for the Korean market
Despite its distinctive styling, strong performance and sumptuous interior, the Mercedes-Benz CLS-Class has long been likened to a good-looking lover whom one might brag about but would never seriously consider marrying. This may be why the preferred choice of luxury car in Korea has been the E-Class, which shares much of its underlying structure, engine and hardware with the CLS.Now, in a bold attempt ― and at much risk, according to CLS fans ― to make the vehicle more affordable and accessible
March 9, 2014
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Imported car sales jump 31.2% in February
Imported car sales in South Korea jumped 31.2 percent in February compared with the same period last year, a report by a local trade association said Thursday.A total of 13,852 new foreign-made cars were sold last month, compared with 10,556 units a year earlier, the Korea Automobile Importers and Distributors Association said. The on-year gain comes after annual foreign car sales hit a record high of 156,497 units in 2013. The latest tally, however, showed that compared with January this year w
March 6, 2014
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Nexen Tire eyes Europe for factory site
Nexen Tire, one of Korea’s leading tire makers, will soon decide on its second production site in Europe, and the Czech Republic is emerging as the strongest candidate, sources said. According to Czech News Agency, Nexen is considering several locations including Poland, Slovakia and the Industrial Zone Triangle near Zatec of the Czech Republic.The countries, and their regions, are reportedly battling to win the investment from Nexen.The tire maker, however, denied the speculations and announced
March 6, 2014
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Hyundai chief urges new game plan in Europe
Hyundai Motor Group chairman Chung Mong-koo stressed during his site inspection tour in Europe on Tuesday that the company will need to reinforce its game plan if they want to gain the upper hand in the European auto market, which is expected to undergo heavy competition this year.Chung’s visit to Europe ― his first overseas trip of the year ― is part of the conglomerate’s strategy to solidify their operations at one of the world’s largest automotive markets amid signs of market recovery after s
March 5, 2014
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A Range Rover that handles like a Jaguar
When I was offered the 2014 Range Rover Sport for a test-drive, it was hard not to be intimidated by the size. Even though the Sport is smaller than its brother Range Rover, it is still a mighty big engine. But slipping into the luxurious cabin, my intimidation quickly turned into self-assurance. The high seating position offered excellent visibility, and with it my confidence also rose. The handling was so sharp and light that it was hard to believe I was driving a car of such scale, but it all
March 2, 2014
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Hyundai looks to Genesis to challenge BMW in Europe
Hyundai Motor Co. will target the Czech Republic, Slovakia and southern Europe with the new Genesis sedan as South Korea’s biggest automaker seeks a premium-market foothold alongside dominant German manufacturers. Hyundai will introduce the luxury car at the Geneva auto show this week and begin selling it in Europe by about June, Allan Rushforth, head of the Seoul-based manufacturer’s business in the region, said at a press conference in London. The Genesis, which went on sale in South Korea in
March 2, 2014
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Tesla raises $2b of convertible debt to finance factory
Bond investors rewarded Tesla Motors Inc. by snapping up $2 billion of convertible notes at funding costs that are lower than a five-year average as the luxury electric-car maker prepares to build the world’s largest battery factory.In an offering that was bigger than initially estimated, the company sold $800 million of 0.25 percent, five-year notes and $1.2 billion of 1.25 percent, seven-year securities, according to data compiled by Bloomberg. Both coupons are lower than the median for simila
March 2, 2014
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Kumho Tires becomes official sponsor of NBA
Local tire maker Kumho Tires announced Wednesday that it has signed a sponsorship deal with the National Basketball Association and the NBA Development League (NBA’s minor league) in a bid to strengthen the company’s presence overseas.The company will be an official sponsor of both leagues ― a first within the tire industry ― until the year 2016.The tire maker has sponsored individual professional sports teams, such as the LA Lakers and the Miami Heat in the NBA or the New York Jets in the Natio
March 2, 2014
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Harley-Davidson targets car drivers with trikes in Japan push
Harley-Davidson Inc. has hit upon what it thinks is a rich trove of untapped demand in Japan: four-wheel drivers who can’t ride two-wheel motorcycles.To give them a taste of what the American motorcycle-maker has to offer, Harley-Davidson is rolling out the three-wheel Tri Glide in Japan, its largest market outside North America. The Milwaukee-based company began selling the trikes in Japan this month, at a starting price from 4 million yen ($39,000).“It’s a relatively easy way into Harley-David
March 2, 2014
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[Photo News] BMW 4 Series Convertible
March 2, 2014