Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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New Santa Fe makes debut in U.S.
Hyundai Motor revealed the third-generation Santa Fe during the 2012 New York International Auto Show on Wednesday.The all-new 2013 Santa Fe, a crossover utility vehicle, is designed for drivers and passengers with high expectations for functionality and comfort, Hyundai said in a statement.There are two models for the third-generation Santa Fe ― the two-row, five-passenger “Santa Fe Sport” and the long wheelbase three-row, seven-seater “Santa Fe.” A company spokesman said the new Santa Fe show
April 5, 2012
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Import car sales hit record high
Monthly sales of import automobiles hit an all-time high of 10,648 units in March, while Korean carmakers such as Hyundai Motor and Kia Motors suffered lackluster sales at home.According to the Korea Automobile Importers & Distributors Association, foreign carmakers saw their combined sales grow by 3.5 percent from a year earlier and 15.8 percent from a month before.The former monthly record was 10,290 units, posted in March 2011.For the first quarter of 2012, their sales increased by 13.9 perce
April 4, 2012
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Carmakers post sagging sales at home
Four out of the five major automakers suffered a year-on-year drop in sales in the local market in the first quarter of 2012 amid sluggish private consumption.Hyundai Motor saw its sales at home post 154,855 units in the first quarter, down 7.1 percent from 166,749 units over the same period in 2011.For March sales, the nation’s largest automaker reported a 9.5 percent drop with 56,022 units at home, compared with 61,932 units a year earlier.By contrast, its exports, including production at over
April 2, 2012
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Honda prices Acura ILX to attract buyers from BMW
Honda Motor Co., seeking a 46 percent jump in U.S. Acura brand sales this year, priced a new “near premium” compact sedan to attract car buyers in their 30s and keep them out of competing BMW and Audi models. The 2013 ILX, which goes on sale in May, starts at about $27,000. It’s aimed at older “Generation-Y” customers who aspire to own a luxury vehicle and have limited income, Jeff Conrad, vice president of Honda’s Acura unit, said this month. Honda’s U.S. sales target is 40,000 annually of the
April 1, 2012
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Automakers battle weak demand for hybrids
Hyundai, Kia struggle to catch up with Toyota’s PriusHybrid cars of Hyundai Motor and its affiliate Kia Motors have yet to gain popularity among domestic consumers.The affiliated automakers saw lethargic sales of the fuel-efficient vehicles, such as the Sonata hybrid and K5 hybrid, last year. Yearly sales of Hyundai’s Sonata hybrid and Kia’s K5 hybrid stood at 7,193 and 5,279 units, respectively.The figures indicate that the companies’ daily sales of the two eco-friendly sedans in Korea average
April 1, 2012
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Hyundai Solaris named Russia’s car of the year
Hyundai Motor Co.’s Solaris sub-compact was named the 2012 Annual National Prize Car of the Year by Russian consumers, South Korea’s largest carmaker said Friday.The vehicle, which is the local name for Hyundai’s popular Accent, was picked as both car of the year and best model in the small vehicle segment by 1.5 million consumers who took part in a nationwide vote.The award ceremony hosted by the country’s automotive media including Automir was held on Thursday in Moscow.Hyundai said its Solari
March 30, 2012
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GM Korea to recall Alpheon sedans for headlight problem
GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., is voluntarily recalling its Alpheon sedans for headlight problems, the transportation ministry said Thursday.The 12,747 entry-level luxury cars subject to the recall were manufactured between April 30, 2010 and March 5 this year, according to the Ministry of Land, Transport and Maritime Affairs.Vehicles subject to the recall are the 2.4-liter gasoline and hybrid models as well as those powered by a 3.0-liter engine.The mi
March 29, 2012
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BMW recalls 1.3 million cars worldwide
German luxury carmaker BMW said on Monday it was recalling some 1.3 million cars worldwide due to battery problems that could in extreme cases result in a fire."In order to carry out a quality measure, BMW is recalling all BMW 5 and 6 Series models of the previous generation, built between 2003 and
March 27, 2012
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Carmakers slash prices amid sluggish demand
Free trade pacts with EU, U.S. spark heated competition to offer value for moneyKorean and foreign carmakers are battling to lower vehicle prices amid lackluster domestic consumption.Their drive for lower prices is also sparked by the nation’s free trade agreements with Europe and the U.S., which took effect on July 1, 2011 and March 15, 2012, respectively.Hyundai Motor’s discounts range between 200,000 won ($175) and 1 million won.The nation’s largest carmaker is offering a 1 million won discou
March 25, 2012
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GM sees Europe pricing weakness causing broad capacity cuts
General Motors Co. sees “clearly deteriorating” sales and pricing in Europe’s car market leading to restructuring across the industry, according to analysts who met with the automaker’s management yesterday. Analysts met with Dan Ammann, GM’s chief financial officer, and James Davlin, treasurer of the Detroit-based automaker, according to Citigroup Inc. Europe’s vehicle pricing has “worsened significantly” during the past three to four months, Rod Lache, a New York-based analyst at Deutsche Bank
March 18, 2012
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U.S. auto dealers who survived debacle see record sales
Spring Chrysler-Jeep-Dodge-Ram in Houston was one of the fortunate U.S. auto dealers to have survived the industry meltdown of 2008 and 2009.“It was tough times,” Al Heggs, the dealership’s general manager, said of the period when sales plunged to less than 135 new cars and trucks a month from 300. “You don’t take any solace in the fact that everybody else is suffering. You just got to figure out how to keep yourself above water.”Beleaguered Spring Chrysler wound up doing that ― and much more. T
March 18, 2012
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Two wheels lure young away from four
Sports motorbikes are offering a fuel-efficient alternative to cars for young people in the entry-level market. BMW Motorrad and Honda Korea note a two-digit expansion in sales of their flagship models over the past year, taking sales from the entry-level car market.The sales volume of Honda’s CBR125R, a 125cc engine bike, grew 128 percent last year alone. CBR125R boasts fuel efficiency of 57.3 kilometers per liter, making it attractive compared to compact cars after oil prices soared to all tim
March 18, 2012
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Hyundai’s Elantra car of the year in South Africa
Hyundai Motor Co.’s Elantra won the Car of the Year prize of the 2012 annual competition of the South African Guild of Motoring Journalists on Wednesday, the company said Friday.After a two-day evaluation of the finalists, Hyundai’s medium luxury sedan was named the SAGMJ and WesBank’s choice of the year. This year is the first a Korean model has won the prize. “We are extremely proud of the recognition that a world-class product such as the Hyundai Elantra has received from the South African Gu
March 16, 2012
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Hyundai Motor heir takes steel unit post
Hyundai Motor vice chairman Chung Eui-sun will take on a vice chairman post at Hyundai Steel.Chung was appointed as vice chairman in charge of product quality at the non-automotive affiliate of Hyundai Motor on Friday.The heir apparent of Hyundai Motor Group chairman Chung Mong-koo has now four titles including Kia Motors president & CEO and Hyundai Mobis vice chairman.“While Hyundai Steel vice chairman and CEO Park Seung-ha will still take the initiative in overall management of the company, vi
March 16, 2012
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Mitsubishi cars come back to Korean market
Mitsubishi Motors Corp. resumed its vehicle sales in Korea by unveiling two models.The Japanese carmaker reentered the local market on Friday after a hiatus of about a year by signing an exclusive dealership contract with CXC Motors.CXC Motors was established by Hanjin Group founder’s grandson Henry Cho in 2011.Mitsubishi and CXC unveiled compact crossover RVR and pick-up truck L200 during the unveiling event at the KINTEX in Ilsan, Gyeonggi Province.CXC Motors is poised to open large showrooms
March 16, 2012
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Chung foundation launches education program for poor
The Chung Mong-koo foundation of Hyundai Motor Group has set up an educational program dubbed “On Dream School.”The program is designed to foster outstanding figures among students from underprivileged households, Hyundai Motor said in a statement.Its main functions will include providing students ― from elementary to college ― with scholarships and opportunities for high-quality education.On Thursday, the social foundation signed a pact with the Ministry of Education, Science and Technology on
March 15, 2012
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Hyundai Motor’s Veloster sales brisk in U.S. market
Hyundai Motor saw its U.S. sales of Veloster, a three-door sports car, jump last month on the back of the company’s Super Bowl advertisement.The company’s sales of the Veloster came to 3,240 units in the United States in February, up 91.4 percent from a year earlier.The Hyundai vehicle is vying for the top place in the sport compact segment with BMW’s Mini Cooper and the Fiat 500, which posted sales of 3,686 units and 3,227 units, respectively.The Veloster made a sensation in October last year,
March 13, 2012
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Hyundai city car gains popularity in India
Hyundai Motor’s Eon is gaining popularity in India, becoming one of the five best-selling cars in the emerging market.The automaker saw sales of the Eon, a hatchback city car, surpass 10,000 units last month for the first time since its launch in India last September.With 10,480 units, the Eon ranked fifth in sales. The top four best-selling models were Maruti Suzuki’s Alto, Swift, Dzire and Wagon R. Hyundai’s Eon features an 800cc engine, and was launched in the local market in October, with sa
March 12, 2012
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Porsche looks to sell more 4-door cars
Korea rises to 3rd in terms of new car sales of the premium sports car makerPorsche enjoyed a record year in sales driven by their non-sports models.“The great thing that happened was the Cayenne, which was introduced here in Korea in June 2010, and that hit the sweet spot of the customers here,” said Porsche president in Korea Michael Vetter.The sports car company has been in Korea since 1986 but suffered tremendously during the financial crisis that hit the country from 1997-98.In 2000, Porsch
March 12, 2012
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Automakers snazz up small cars to lure wary buyers
The small cars premiering at the Geneva Motor Show last week were not the boxy fuel-savers of yesteryear.European automakers have downsized SUVs and put all the luxury they can into premium subcompacts as they seek to dazzle consumers back into confidence after years of crisis.European manufacturers are facing one of their toughest seasons yet. Unemployment and austerity measures have made consumers in Europe skittish, factories are idle, and yet there is little automakers can do to close plants
March 11, 2012