Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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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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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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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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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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[Music in drama] Rekindle a love that slipped through your fingers
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Hyundai, Kia see sales increase, others suffer drop
South Korea’s leading automaker Hyundai Motor Co. said Wednesday its April sales gained 7.9 percent from a year earlier due mainly to solid demand in overseas markets.Hyundai Motor sold 371,597 vehicles last month, compared with 344,231 units a year earlier, the company said in a statement. Its April sales, however, were down 2.9 percent from the previous month, when the company sold 382,659 vehicles overall.Domestic sales contracted 7.6 percent on-year to 55,497 vehicles, while overseas sales j
May 2, 2012
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Hyundai Motor to add third shift, 877 workers at Alabama factory
Hyundai Motor Co., South Korea’s largest automaker, will add a third shift at its main assembly plant in Montgomery, Alabama to meet rising demand for its vehicles in the U.S.Capacity at the factory, currently able to build at least 300,000 vehicles a year, will increase by 20,000 units after the increase in shifts that begins in September, the company said today in an e-mailed statement. The added shift will result in 877 extra workers, raising employment there to more than 3,000, the Seoul-bas
May 1, 2012
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Hyundai, Kia strive to defend dominant position in local market
K9, New Santa Fe to compete with U.S.-manufactured Japanese models Hyundai Motor and Kia Motors are signaling fierce competition with import car brands in a bid to protect their dominant market share at home.Following Hyundai’s launch of the third-generation Santa Fe in April, its affiliate Kia will unveil the K9, a luxury premium sedan, on May 2.Hyundai Motor has more than 40 percent of the local market while its affiliate Kia Motors’ market share hovers at 30 percent.But their position has
May 1, 2012
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Hyundai Motor unveils Yeosu Expo pavilion
Hyundai Motor Group on Monday introduced its exhibition hall for the upcoming Yeosu Expo 2012, which underscores the carmaker’s efforts to save resources and the environment. Under the theme “Living Ocean and Coast,” 106 countries and nine international organizations plan to showcase their marine development and oceanic technology on the southern shore of the Korean Peninsula starting May 12.The auto giant is one of the seven local corporations to run pavilions during the three-month event along
April 30, 2012
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GM to start selling Chevy Corvette in Korean market
General Motors Co., the world’s largest automaker, will begin selling the Chevrolet Corvette sports car in South Korea this month as the U.S. company seeks to expand sales in overseas markets.The Corvette Coupe, equipped with a eight-cylinder engine delivering 430 horsepower, will go on sale May 4 starting at 86.4 million won ($76,300), GM’s Korean unit said in an e- mailed statement on Monday. That’s more than 50 percent higher than the car’s sticker price in the U.S.The coupe will be the ninth
April 30, 2012
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Volkswagen zooms into 2012 with 86% increase in profits
Europe’s biggest car maker, said Thursday that profits raced ahead in the first three months of this year, driven by strong demand worldwide for all of its brands.VW said in a statement it booked net profit of 3.186 billion euros ($4.222 billion) in the period from January to March, an increase of 86 percent from a year earlier. Underlying earnings, as measured by operating profit, revved up 10.2 percent to 3.209 billion euros, as the auto giant sold 11.3 percent more vehicles ― 2.26 million wor
April 29, 2012
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Kia Motors to complete K-series this year
Carmaker yet to launch K2 compact in Korea despite strong sales in ChinaThe K series of Kia Motors Corp. will likely be completed this year after the automaker unveiled the first model ― the K7 sedan ― in November 2009.Kia, which launched the K5 sedan in April 2010, is scheduled to fill the K line-up by unveiling the third and fourth models ― the K9 and K3 ― in May and later this year, respectively, according to company executives.“We plan to launch the K9 on May 2 and the timing of the K3 will
April 29, 2012
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Kia’s quarterly earnings climb to record high
Following Hyundai Motor, affiliate Kia Motors reported all-time high quarterly earnings on the back of its robust vehicle sales in the overseas market.Kia said Friday that its operating profit reached 1.12 trillion won ($1 billion) during the first quarter of 2012, up 33.4 percent over the same period last year.The carmaker also saw its net profit climb by 26 percent to 1.2 trillion won. Its sales came to 11.7 trillion won.On a quarterly basis, the figures for the operating profit, net profit an
April 27, 2012
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Hyundai Motor to train European jobseekers
Korean carmaker to offer education program to 10,000 students in 15 nationsHyundai Motor Co., Korea’s largest carmaker, will offer a series of vocational education program for young jobseekers in 15 European countries for the next two years under its social contribution activities, company officials said Friday.The program, dubbed “Skills for the Future,” is designed to support employment of vocational school students aged between 15 and 18 years old in Europe, the company said.Hyundai’s oversea
April 27, 2012
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Hyundai Motor posts record operating profit
Performance aided by emphasis on product-quality than mass productionHyundai Motor reported a record performance on the back of improved profitability despite sluggish sales at home.The nation’s largest carmaker said Thursday that it posted 2.28 trillion won ($2.02 billion) in operating profit during the first quarter of 2012, up 24.9 percent from the same period last year.This marked all-time high quarterly earnings for the automaker. Company executives attributed the performance to a product q
April 26, 2012
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Provost says SM series key in China
BEIJING ― The SM sedan series of Renault Samsung Motors is expected to play a significant role in the its parent Renault Group’s project to expand its presence in China.Renault Samsung chief executive Francois Provost stressed that the consumer preferences of the Chinese are quite similar to those of Koreans.His remarks came right after France-based Renault Group unveiled the Talisman, a luxury sedan dubbed the SM7 in Korea, during the 2012 Beijing International Automotive Exhibition ― also call
April 24, 2012
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Carmakers strive to increase sales in China
Renault to produce some models in world’s largest automobile marketBEIJING ― Global carmakers including Korean players are competing to increase their market share in China, the world’s largest automobile market.In the past several years, China has overtaken the Untied States in vehicle sales per annum.While General Motors and Volkswagen had dominated the Chinese market, Hyundai Motor has continued to increase its share since it established the Beijing Hyundai corporation and factories a decade
April 23, 2012
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Hyundai Motor expands aid to suppliers
Hyundai Motor Group plans to up the funds it provides to its subcontractors, giving out about 600 billion won ($530 million) this year. About 320 billion won will support suppliers’ research and development activities and the rest will be allocated as loans with low interest rates, the group said in a statement on Sunday.The automotive group said it is showing its commitment to co-prosperity, as its 11 business units, including Hyundai Motor, Kia Motors and Hyundai Mobis, have signed a pact with
April 23, 2012
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European car sales fall to 14-year low as economy stalls
European car sales fell to a 14- year low last month, with Fiat SpA, Renault SA and PSA Peugeot Citroen posting the biggest drops, as the region’s sovereign- debt crisis caused economic growth to stall. Registrations in the 27-member European Union plus Switzerland, Norway and Iceland fell 6.6 percent from a year earlier to 1.5 million vehicles, the lowest figure for March since 1998, the Brussels-based European Automobile Manufacturers’ Association said today in a statement. First- quarter sale
April 22, 2012
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U.S. regulators to examine electric-car battery safety
The U.S. auto-safety regulator said it will hold a forum on lithium-ion batteries in electric cars next month, almost a year after a General Motors Co. Chevrolet Volt caught fire following crash-testing. The National Highway Traffic Safety Administration announced a meeting May 18 in Washington to convene government officials and auto and battery-industry representatives to talk about “safety considerations” for cars powered by lithium-ion batteries. The meeting was announced in a posting on the
April 22, 2012
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Renault Samsung looks to overseas markets
At home, automaker pinning hopes on electric vehicles to offset sluggish salesRenault Samsung Motors is seemingly prioritizing overseas markets over sales at home as consumption in Korea sags and the Chinese market enjoys rapid growth.During the first quarter of 2012, Renault Samsung posted exports of 27,505 units, 64 percent of its total sales of 42,939 units.Between 2000, when France’s Renault acquired the then Korean carmaker, and 2010, the carmaker’s yearly domestic sales exceeded exports.Th
April 22, 2012
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Citroen reenters Korean market
French automaker Citroen resumed sales in the local market on Thursday after a decade-long hiatus.The company under the wing of PSA Peugeot-Citroen unveiled the DS3, a premium hatchback, in Seoul on Thursday. Hanbul Motors Corp. will take on imports of the French cars.Citroen aims to sell up to 2,500 cars per annum in Korea, Eric Dumondelle, chief of the company’s Asia Pacific division told The Korea Herald.“We at Citroen have a new logo, new technology and it was the right time (to come back) i
April 19, 2012
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New Santa Fe aims to be best-seller
Hyundai Motor Co., Korea’s No. 1 carmaker, has launched the third-generation Santa Fe in the local market.During an unveiling event in Incheon on Thursday, the company said it aims to sell 42,000 units of the New Santa Fe at home and 110,000 units in the overseas market this year. The automaker has also set the sales target of 385,000 units for next year ― 50,000 for domestic and 335,000 for overseas consumers.“The Santa Fe holds significant meaning for the local sport utility vehicle market and
April 19, 2012
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Hyundai-Kia’s sales hit record high point in Europe in March
Hyundai Motor and Kia Motors posted all-time high monthly sales in the European market in March, despite the worsening business environment in the wake of the eurozone debt crisis.The affiliated companies’ combined sales came to 85,393 units in Europe in March, up 15.3 percent from 74,107 units a year before.According to the European Automobile Manufactures’ Association, also known as ACEA, Hyundai reported a 13.8 percent growth with sales of 50,131 units and Kia, 17.3 percent with 35,262 units.
April 18, 2012
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BEXCO has high hopes for Busan Motor Show
CEO Kim says May show will focus on low-emission vehiclesThe Busan Exhibition & Convention Center is striving to upgrade the Busan Motor Show through this year’s event, which may be the largest ever.The Busan International Motor Show 2012 is projected to mark “58 percent growth” compared to the previous event in 2010, BEXCO president & CEO Kim Soo-ik told a press conference in Seoul on Wednesday.The auto show ― which will emphasize low-emission vehicles ― will be held for 11 days from May 24 to
April 18, 2012