Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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China decade away from global carmaker: analyst
Chinese automakers are about a decade away from being globally competitive and will have to increase their spending on research and development to close the gap, according to Sanford C. Bernstein & Co. Carmakers such as General Motors Co., Volkswagen AG and Toyota Motor Corp. are outspending Chinese brands on research and development and lead in engineering, said Max Warburton, an auto analyst at Bernstein, which has a neutral rating on China’s auto industry. The Chinese have the will and money
Feb. 24, 2013
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It’s good to be challenger: Toyota Korea CEO
Korea is one of the few countries where Toyota Motor, the world’s largest carmaker, is not a dominant player. In a market where domestic brands Hyundai and Kia make up almost 80 percent of car sales, Toyota comes in fifth place among foreign brands, after the German carmakers; Toyota Korea’s market share stands at a tiny 1 percent. But Tommy Nakabayashi, CEO of Toyota Motor Korea, doesn’t complain about the unique business environment in Korea. Instead, he is willing to take on new challenges an
Feb. 24, 2013
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[Photo News] All New Range Rover
Feb. 21, 2013
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Korea remains world’s 5th-largest car producer
South Korea retained its position as the world’s fifth largest automobile producer last year for the eighth year in a row behind China, the United States, Japan and Germany, a local industry group said Monday.Top automaker Hyundai Motor Co. and four other local automakers produced a combined 4.56 million units in 2012, compared with 4.66 million vehicles produced a year earlier, according to the Korea Automobile Manufacturers Association.South Korea’s output accounted for 5.4 percent of a total
Feb. 18, 2013
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Hyundai’s fuel cell car drives more smoothly than popular hybrids
Like a regular SUV, Hyundai’s fuel-cell-powered Tucson lets you cover about 370 miles on a single tank. Its silent power system and familiar six-speed automatic transmission make highways and city streets quieter than ever. In fact, there’s not much you can’t do with the hydrogen-cell Tucson that you can’t do with a regular Tucson ― except fill’er up. And, for the moment, afford’er.This isn’t the model found at dealerships. Not yet. But Hyundai is already leasing hydrogen-powered vehicles to cit
Feb. 17, 2013
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Jaguar Land Rover sees Korea as key market
There was no doubt in David McIntyre’s mind when he decided to undergo a career shift to lead the Korean operations of Jaguar Land Rover last year. The former director of Bentley’s Chinese sales had two clear reasons for embracing the change: The first was that it would be an opportunity to oversee two British luxury car brands ― Jaguar and Land Rover. The second was the strong growth potential he saw in the Korean import car market, something he had already seen several years ago when he was in
Feb. 17, 2013
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Lexus GS ― a great family car
The Korea Herald, in cooperation with carmakers, offers a test-driving experience to executive officials at Korean or multinational companies and ranking diplomats here. The opinion above is the author’s own. For any inquiry into this column, please contact jylee@heraldcorp.com. ― Ed. My daily routine requires me to drive to many different places in Seoul, all at different times of the day, and I must say that I feel much safer and my commute seems quicker and more practical in this marvelous Le
Feb. 17, 2013
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Korean Air to build tallest building in western U.S.
A $1 billion office-and-hotel tower being developed by Korean Air Lines Co. in downtown Los Angeles will be the tallest building in the western U.S. upon its completion in four years, according to the projects architect.The foundation of the 1,100-foot (335-meter) tower will be poured at the end of this year, with a grand opening planned for March 2017, said Chris Martin, chief executive officer of Los Angeles-based architecture firm AC Martin Partners. The building will rise higher than downtow
Feb. 11, 2013
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Korea’s auto production up 23.3 percent in Jan.
Output by South Korean carmakers jumped 23.3 percent in January from a year earlier on the back of strong overseas shipments, a local industry group said Monday.Industry leader Hyundai Motor Co. and four other local automakers produced a combined 410,602 vehicles last month, according to the data compiled by the Korea Automobile Manufacturers Association.The export volume also advanced 17.1 percent on-year to 288,344 vehicles in January, with the total value reaching $4.27 billion.Market watcher
Feb. 11, 2013
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‘Political dispute makes Mahindra balk at investment in Ssangyong’
The head of Ssangyong Motor Co. said Tuesday the automaker’s parent company Mahindra and Mahindra Ltd. balked at investing in his company due to a political dispute over labor troubles at South Korea’s smallest automaker.Lee Yoo-il, Ssangyong’s chief executive officer, told reporters that his company will hold a board of directors meeting later this month to discuss an investment decision meant to develop new vehicle models.Lee did not disclose details of the planned investment.His comment came
Feb. 5, 2013
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Toyota, Ford lead U.S. sales gains as autos fuel growth
Toyota Motor Corp. and Ford Motor Co. led the four largest automakers by U.S. sales in reporting January gains that topped estimates, as buyers return to showrooms to begin a fourth consecutive year of growth.Toyota’s deliveries of cars and light trucks surged 27 percent and Ford’s climbed 22 percent, while General Motors Co. and Chrysler Group LLC sales each rose 16 percent, the companies said Friday. Industrywide light-vehicle sales increased 14 percent, according to researcher Autodata Corp.,
Feb. 3, 2013
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Hyundai, Kia post record monthly sales in China
South Korean automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. said Sunday they have posted monthly record sales in China in January helped by the growing popularity of their new models.Beijing Hyundai Motor Co. and Dongfeng Yueda Kia Motor Co., the South Korean automakers’ China units, sold 163,090 units last month, up 66.4 percent from a year earlier.The total breaks down to 107,888 units for Beijing Hyundai and 55,202 units for Dongfeng Yueda Kia.The number outperforms the previo
Feb. 3, 2013
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Mercedes takes early luxury lead after outselling BMW
Mercedes said it sold 22,501 vehicles last month, its best January, helped the C-Class sedan’s 11 percent climb to 7,214. Brand sales for BMW increased 0.7 percent to 16,513 units, boosted by a 56 percent gain for its X5 sport-utility vehicle. Toyota Motor Corp.’s Lexus rose 32 percent to 16,211, led by the ES sedan, which more than doubled to 5,186 deliveries. The two German automakers are vying to be the top luxury- auto brand in the U.S. after outselling Lexus the past two years. BMW vaulted
Feb. 3, 2013
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Smaller carmakers bet big on compact SUVs
With the almost 80 percent market dominance of Hyundai and Kia cars still intact and foreign car brands aggressively expanding their local presence, the nation’s smaller carmakers ― GM Korea, Renault Samsung Motors and Ssangyong Motor ― are all pinning high hopes on a niche segment: compact sport utility vehicles. Amid the growing acceptance of small-engine, fuel-efficient vehicles, the market for smaller SUVs has been surging globally in recent years.GM Korea, whose global car sales last month
Feb. 3, 2013
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GM mulls Brazil options with CEO’s global reshuffling
As General Motors Co. Chief Executive Officer Dan Akerson works on a global corporate reorganization, the decisions he faces are playing out in one of the company’s most important emerging markets: Brazil. The automaker is evaluating how it will structure management in the country after the former president of GM Brazil, Grace Lieblein, switched to head of global purchasing in December. GM is holding off on replacing her as it determines what kind of role the person will have, said Jaime Ardila,
Jan. 27, 2013
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Jaguar bets on China to defray royalty payments
Jaguar Land Rover Plc, the luxury unit of India’s biggest automaker, is betting surging sales in China will help it defray royalty payments triggered by the company setting up factories outside the U.K. Jaguar is liable to pay royalties to Ford Motor Co., which sold the brands to Tata Motors Ltd. in 2008 for $2.5 billion, for use of the platform required to make its best-selling cars when manufactured outside the U.K., it said in a U.S. regulatory filing on Jan. 23. The unit of Mumbai-based Tata
Jan. 27, 2013
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Camry drives Toyota toward revival
An hour before the awards ceremony was set to begin, Toyota Korea was informed that its Camry would be crowned the 2013 Korea Car of the Year. It was a stunning feat for a foreign brand ― it was unprecedented for an imported car to grab the honor ― and especially for Toyota which had stood resilient against the widespread doubt that had shrouded the release of the vehicle last January. Toyota had pretty much known that its hybrid compact Prius would win the “green car” award, but did not expect
Jan. 27, 2013
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Kia sees fall in Q4 profit on stronger won
Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its 2012 earnings climbed 9.8 percent from a year earlier thanks to steady sales in overseas markets.Net profit reached 3.86 trillion won ($3.6 billion) last year, compared with 3.52 trillion won for a year earlier, the company said in a regulatory filing.Sales rose 9.4 percent on-year to 47.2 trillion won in 2012, and operating profit also climbed 0.7 percent to 3.5 trillion won.For the fourth quarter of last year, Kia’s
Jan. 25, 2013
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Female vice president named GM Korea CFO
GM Korea Co., the local unit of U.S. General Motors Co., said Wednesday that a female vice president has been named its chief financial officer.Minerva Matibag, currently the CFO for GM’s Brazil unit, will also be in charge of finances for the firm’s operations in Vietnam and Uzbekistan, GM Korea said in a statement. The first woman CFO of GM Korea will start her job on Feb. 1, the company added.The Filipina started her financial career at GM’s Asia Pacific office in 1997 and went on to financia
Jan. 23, 2013
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Korean-brand cars sales jump in China this month
HONG KONG (Yonhap News) ― Sales of South Korean-brand passenger cars soared more than 30 percent in the first half of January from a month earlier, partly thanks to weaker shipments of rival Japanese brands, a market report showed Monday.During the first two weeks of January, South Korean cars sold in China numbered 6,646 units, up 31 percent from the same period a month earlier, according to the report by investment bank JPMorgan. South Korean carmakers’ market share was estimated at around 13.
Jan. 21, 2013