Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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Hyundai Motor Group unveils W21tr plan to quadruple EV production in Korea
Amid looming reports that Hyundai Motor is set to announce a $7 billion investment in US, the South Korean carmaker unveiled a whopping 21 trillion-won ($16 billion) plan on Wednesday to quadruple its domestic electric vehicle production capacity by 2030. The plan is aimed at digesting about half of its target goal of producing 3.23 million units of EVs globally, the company said. It came two days prior to US President Joe Biden’s official visit to Korea of which the company report
May 18, 2022
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Level 4 self-driving IONIQ 5 starts delivering food in California
Hyundai Motor’s IONIQ 5 loaded with Level 4 self-driving technology has started delivering food in California. Motional, a US autonomous vehicle company that Hyundai Motor Group and US mobility startup Aptiv formed, and Uber Eats began operating their pilot program of automated delivery service in Santa Monica, California, on Tuesday. The partnership was announced in December. At Level 4, a vehicle can drive itself under limited conditions and will not operate if all required conditions
May 17, 2022
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Amid buyout talks, SsangYong to launch new SUV Torres
South Korean sports utility vehicle maker SsangYong Motor unveiled its new mid-size SUV called Torres on Tuesday, scheduled to be launched next month. The launch of the new vehicle came amid growing financial pressure on the SUV maker, which has been struggling to find a new suitable buyer. The new vehicle was named after the Torres del Paine National Park located in Chile’s Patagonia region, a place often known as “the end of the world.” “We adopted the name Torres bec
May 17, 2022
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Criticisms grow as car buyers are pushed to pay more on delayed orders
Consumer criticisms are mounting as the country’s finished carmakers are unable to meet the delivery deadline due to ongoing supply shortages globally, as well as obligating customers to pay more to get the latest edition models. As carmakers like Hyundai Motor stops manufacturing the older version of vehicle when they release the new edition in the new year, customers having to wait more than a year for delivery of their cars are being pushed to buy more expensive, newer edition v
May 17, 2022
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Renault XM3 Inspire comes with better design, more tech
Renault Korea Motors has added a new trim called Inspire to its XM3 SUV, which has been lauded for its distinct, upscale design. Named after the show car unveiled at the 2019 Seoul Motor Show, XM3 Inspire comes in two colors -- cloud pearl and sonic red. The Inspire trim of the compact SUV features ventilated leather seats, heated rear seats, customized ceilings, a shield to minimize wind noise when driving at high speeds and small design touches such as red lines on the air curtain, side fend
May 17, 2022
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Audi, Volvo vie for No. 3 importer in Korea
Volvo is close to catching up to German automaker Audi, which kept its title as the third top selling foreign car brand in South Korea, data showed Monday. According to Korea Automobile Importers & Distributors Association, Volvo Korea sold a total of 1,332 units in April overtaking Audi Korea which sold 1,051 units the same month. Compared to sales in March, Volvo Korea saw a 1.8 percent on-month sales increase in April while Audi Korea’s sales dropped by 9 percent. In April, Volvo
May 16, 2022
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Hyundai Motor unveils Korean ‘ondol’-inspired mobility concept
Hyundai Motor Group on Sunday unveiled its latest mobility concept inspired by the Korean traditional floor heating system “ondol” that allows passengers to take rest inside or even sleep with a specially designed multifunctional blanket. According to the carmaker, its new mobility concept, Mobility Ondol, has no driver’s seat, since it was designed based on the fully autonomous driving system. The seats are arranged to face each other, putting the communication of the
May 15, 2022
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Court picks KG consortium as preliminary bidder for SsangYong Motor
A Seoul court on Friday selected a local consortium led by chemical-to-steel firm KG Group as the preliminary bidder for SsangYong Motor ahead of the auction beginning later this month to find a new investor for the carmaker. The new auction comes two months after local electric bus maker Edison Motors Co. failed to make a full payment of 304.8 billion won (US$249 million) for the debt-laden SsangYong Motor by the March 25 deadline. SsangYong and its lead manager EY Hanyoung accounting firm ac
May 13, 2022
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[Market Eye] What's behind Hyundai Motor's $7b EV plant plan in US?
On news reports that South Korea’s auto giant Hyundai Motor is set to announce a $7 billion investment plan in US, market experts said Friday that the carmaker appears to have done the math: lucrative state incentives, tax benefits, growing demand for electric vehicles and perhaps, proximity of battery supply from its fellow South Korean company SK Innovation. The world’s fifth-largest carmaker will unveil the plan to build an EV plant during US president Joe Biden’s state vis
May 13, 2022
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2022 Hyundai Grandeur makes debut
Hyundai Motor on Thursday launched the 2022 Hyundai Grandeur, a facelifted version of its top-selling mid-sized sedan car. Coming back with revamped style and safety functions, a 12.3-inch LCD cluster and a touch-type controller have been adopted for all four trims – Premium, Le Blanc, Exclusive and Calligraphy. The Exclusive trim features advanced safety features like forward collision avoidance assist and smart cruise control, while the highest end Calligraphy is equipped with a head-u
May 12, 2022
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Airport express train resumes operation on May 30
The airport express train, which runs nonstop from Seoul Station to Incheon International Airport Terminal 1 and Terminal 2, will resume operation from May 30 after a hiatus of about two years due to the pandemic. Check-in for Korean airlines and immigration service will also be available at the City Airport Terminal in Seoul Station. “As we are resuming the express train service after two years, we are preparing new services to enhance customers’ convenience and conducting thoroug
May 12, 2022
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Geely’s stake buying in Renault Korea seen as official Korean market entry
Chinese automotive manufacturer Geely Auto of Zhejiang Geely Holding Group is acquiring a 34.02 percent stake in Renault Korea Motors, as part of a strategic effort to establish a foothold in the local market for expanding its overseas presence, according to experts. Hangzhou-based Geely Automobile Holdings is China’s largest privately-owned automotive group. With an above-30 percent share in the Korean carmaker, which recently dropped “Samsung” from its name upon termi
May 10, 2022
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Hyundai Motor to build LNG plant for power supply, emissions goals
Hyundai Motor Group will construct a liquefied natural gas (LNG) cogeneration facility inside its automotive manufacturing plant in Ulsan to secure a stable power supply while reducing energy consumption and greenhouse gas emissions. According to the carmaker on Monday, it plans to digest over 70 percent of annual electricity used at the country’s largest automotive plant through the new LNG power facility. The new facility, comprising two gas turbines and one steam turbine, will have th
May 9, 2022
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Number of ‘supercars’ worth W300m quadruples over 6 years
Over 5,000 “supercars,” those worth around 300 million won ($230,000), have been registered as corporate cars in South Korea, according to the National Assembly Budget Office on Sunday. The data showed that the number of super expensive imported cars bought by corporations have quadrupled over the past six years from 1,172 to 5,075 units. Since 2016, the number of corporate supercars have shown an average increase of 32.2 percent. Imported cars worth between 200 and 300 million wo
May 8, 2022
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Hyundai’s first all-electric Ioniq 5 marks first year of success
Hyundai Motor’s first all-electric vehicle Ioniq 5 is set to hit some 90,000 unit sales globally since its launch a year ago. According to the carmaker on Thursday, the electric midsize crossover utility vehicle sold 88,871 units – 33,212 units at home and 55,658 units abroad – as of March this year. The Ioniq 5 made its debut in April last year, becoming the first car to be running on Hyundai’s own EV platform, called the Electric-Global Modular Platform, or E-GMP.
May 5, 2022
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Gimpo Airport to resume international flights in June
Gimpo International Airport in Seoul is resuming the long-stalled operation of international flights from June, starting with popular routes between South Korea and Japan. According to the Transport Ministry on Thursday, several South Korean and Japanese air carriers such as Korean Air, Asiana Airlines, Japan Airlines and All Nippon Airways have filed applications to resume international flights at the airport. Gimpo Airport in western Seoul, one of the nation’s main gateways along with
May 5, 2022
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[UP IN THE AIR] Korean startup aims to boost UAM battery capacity with hybrid technology
Flying is a common mode of transport when it comes to domestic travel. Whether it’s for business or pleasure, people need to travel to the nearest provincial airport to visit other cities. That’s an extra one or two hours of traveling, in addition to the flight time. But according to Plana, a South Korean startup dedicated to building vertical takeoff and landing aircraft powered by hybrid e-powertrains, UAM can dramatically reduce travel time, as they can easily take off inside t
May 5, 2022
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Genesis GV70 rated above BMW X3, Lexus RX350
The Genesis GV70 3.5T Sport was rated as the best sports utility vehicle by Car and Driver, an American auto magazine, outpacing BMW X3 M40i and the Lexus RX350 F Sport, Hyundai Motor said Friday. Car and Driver evaluated these three cars based on four categories including vehicle, powertrain, chassis, and experience. Genesis GV70 3.5T Sport took the throne with a total score of 213 out of 240, followed by BMW X3 which scored 205, and Lexus RX350 178. The new luxury compact crossover under Ge
April 29, 2022
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Kumho Tire to participate in global tire exhibitions
South Korean tire maker Kumho Tire said Thursday that it will participate in two international tire exhibitions that will kick off in Europe. Kumho Tire will showcase its products at the Tire Cologne 2022 set to be held in Cologne, Germany between May 24 and 26, and at the Autopromotec 2022, slated to take place in Bologna, Italy, between May 25 and 28. Kumho Tire will display its high-performing, summer, winter, all season, truck and bus, electric vehicle and future concept tires, according t
April 28, 2022
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Hyundai Mobis taps ex-Mitsubishi exec to head Japan unit
Hyundai Mobis, the auto parts making unit of Hyundai Motor Group, said Wednesday it had tapped Yukihiro Hattori and Ryoichi Adachi as president and vice president of Hyundai Mobis Japan to strengthen sales and the intake of orders there. Hattori, who most recently served as director of purchases at Mitsubishi Motors, and Adachi, who had supervised purchases at Mazda Motor, will respectively oversee sales and orders, the Korean firm said. “They have over 40 years of experience at J
April 27, 2022