Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Medical reform committee kicks off despite boycott from doctors
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Honda recalls Civics on fuel leak risk
Jan. 1, 2012
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Renault Samsung plans Korea’s first mass-produced electric car
Renault Samsung, the local affiliate of French automaker Renault SA, said it plans to introduce the all-electric SM3 to the public in 2013 in what is to become the country’s first mass production of zero-emission cars, CEO Francois Provost said.“We have plans to mass produce EV cars out of our Busan plant, we will confirm the details at the beginning of next year,” Provost recently told The Korea Herald. “For Renault Samsung, (the emergence of electric cars) is a big opportunity because the Kore
Dec. 30, 2011
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Hyundai Motor to invest W14tr in 2012
Group’s R&D investment to focus on launching more hybrid modelsHyundai Motor Group has set a record-high budget with its 2012 investment in two major sectors ― facilities and research & development.The automotive group said Thursday that its investment target for next year comes to 14.1 trillion won ($12.3 billion), up 15.6 percent from its 2011 investment.Of the 14.1 trillion won investment, 5.1 trillion won will be used for the R&D sector and the remaining 9 trillion won will be allocated to f
Dec. 29, 2011
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Hyundai Motor to establish research center at Hanyang Univ.
Hyundai Motor Group will establish an automotive research institute at the Seoul campus of Hanyang University.The business group said Wednesday that it has signed a contract with the university to build a research center for developing futuristic cars.The two sides will break ground for the establishment of the center during the first half of 2012, Hyundai Motor said in a statement.By offering students and researchers high-end facilities, the two sides hope to foster specialists to take on core
Dec. 28, 2011
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Sales of Kia’s K2 subcompact car hit record high in China
Kia Motors Corp., South Korea’s second-largest automaker, said Monday that sales of its K2 subcompact vehicle reached a record high in China last month, driven by rising demand there.The K2, also known as the Rio in the U.S. and European markets, hit showrooms in China in July and has proven a big hit, with sales exceeding the 10,000 mark in September. Sales of K2 models in China reached 11,327 units and 12,790 units in October and November, respectively, Kia Motors said.The company attributed t
Dec. 26, 2011
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Volvo’s new plug-in-hybrid available late 2012
STOCKHOLM (DPA) ― Volvo is planning to extend its model line-up with a V60 Plug-in-Hybrid that will be available as a limited edition late next year, according to the manufacturer.The Pure Limited Version, with a production run of 1,000 units,will be available in Europe starting at 57,000 euros ($74,300), some 5,000 euros higher than for the basic diesel version.Among the standard features are the paint work in “electric silver”with high-gloss black elements, aero dynamically formed 17-inch allo
Dec. 25, 2011
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Toyota sales may rise 20 percent on recovery from disasters
Toyota Motor Corp. said its vehicle sales may rise the most in at least 12 years in 2012 as Asia’s biggest carmaker recovers from production disruptions caused by Japan’s March earthquake and Thailand’s record flooding.The maker of Prius hybrid cars may boost global deliveries 20 percent to 8.48 million vehicles from an estimated 7.05 million in 2011, it said in a statement today. The forecast excludes Toyota’s Hino Motors Ltd. and Daihatsu Motor Co. units.Toyota, poised to lose its crown as the
Dec. 25, 2011
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Car exports, imports up despite economic woes
Hyundai-Kia’s exports to surpass 2m units; import car sales to top 100,000 units in 2011The overall automotive industry of Korea posted robust sales growth in 2011, despite global economic woes in the wake of the eurozone debt crisis.Korean companies, such as Hyundai Motor and Kia Motors, saw exports surge and foreign companies, including BMW and Mercedes-Benz, expanded their presence in the local market.As for German and Japanese brands, Hyundai and its affiliate Kia have been recognized as pow
Dec. 25, 2011
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Ex-BMW official to head design for Hyundai cars
Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Center Inc. in the U.S.Chapman takes over from Philip Zak, who joined Hyundai Motor from General Motors in 2009 and recently returned to GM.The company expects that Chapman will strengthen Hyundai’s new automobile design and support the ongoing regeneration o
Dec. 23, 2011
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Ex-BMW official to head design for Hyundai cars
A captured photo from SBS`s TV drama "Secret Garden" (SBS)Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Ce
Dec. 23, 2011
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Hyundai’s Chung No. 2 in world auto power list
Hyundai Motor Group chairman Chung Mong-koo was selected as the second-most influential figure in the world’s automotive industry by U.S.-based publication Motor Trend.Last year, Chung ranked fifth on the “power list” named by the auto magazine.Over the past few years, Hyundai Motor and its affiliate Kia Motors have achieved all of the goals Chung set, the magazine said. It also said competitors, including Toyota Motor, Volkswagen, Ford Motor and General Motors, are paying keen attention not to
Dec. 22, 2011
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Kia Motors introduces electric model for Ray
Kia Motors Corp., the second-largest carmaker in the country, introduced its first all-electric version of the small urban vehicle Ray Thursday.The affiliate of Hyundai Motor Corp. said it will produce about 2,500 zero-emission versions of the Ray next year for government use.“We are supplying an all-electric version of the Ray for government use next year, but we’re ready to also produce it for the general public as soon as infrastructure for the battery recharge is ready,” Suh Choon-kwan, head
Dec. 22, 2011
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Chung named influential figure in auto industry
Hyundai Motor Group chairman Chung Mong-koo was selected as the second-most influential figure in the world’s automotive industry by U.S.-based publication Motor Trend.Last year, Chung ranked fifth on the “power list” named by the auto magazine.Over the past few years, Hyundai Motor and its affiliat
Dec. 22, 2011
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Hyundai Motor’s Eon, Verna named best cars in India
Hyundai Motor Co.’s Eon and Verna small-size cars have been respectively named the “best cars of the year” in their segments in India, industry sources said Wednesday.The Eon, Hyundai’s hatchback city car, has been named the micro-mini car of the year by the Overdrive automotive review program aired on CNBC-TV18, according to the sources.The model made by South Korea’s largest carmaker features an 800cc engine, and was launched in the local market in October, with sales hitting 7,418 units last
Dec. 21, 2011
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Hyundai Motor chief puts priority on quality of high-speed train
Hyundai Motor Group promoted six top management personnel at major units on Monday as part of chairman Chung Mong-koo’s business policy to secure internal strength.Jung Soo-hyun, who worked as a CEO of Hyundai E&C, was promoted to president and CEO of Hyundai Group’s construction unit, taking the No. 1 position in the company.Hyundai Mobis CEO Jun Ho-suck will lead the auto parts producer as the president and CEO, taking over the role of the outgoing vice chairman.Previously, the two companies w
Dec. 19, 2011
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Kia Motors grabs highest China market share in 6 years
Kia Motors Corp. captured its highest share of the Chinese market in six years in November, gaining momentum in the world’s most populous market, company officials said Friday, Kia posted a China market share of 4.1 percent last month, the largest since October 2005 when it reached 4.7 percent.Kia achieved record China sales of 45,768 units last month with the newly launched mid-sized sedan K2 leading the way, the officials said. The K2, also known as the Rio in the U.S. and European markets, hi
Dec. 18, 2011
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Carmakers gear up for launches for 2012
Kia plans to release K9, Hyundai 2012 Santa Fe while GM’s Corvette may hit the roadThe auto industry is set to roll out a series of new cars next year in all styles from sedans to SUVs to sports cars. The new cars in store include the premium sedan K9 from Kia Motors Corp., the 2012 Santa Fe from Hyundai Motor Co., Corvette, the sports car from GM, and the new BMW 3 series 320d and 320ed. BMW Korea confirmed that it will bring in 320d and 320 Efficient Dynamics, the sixth generation of its 3-ser
Dec. 18, 2011
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Kia Motors grabs highest China market share in 6 years
Kia Motors grabs highest China market share in 6 yearsKicker: Kia‘s Morning named best city car in FranceKia Motors Corp. captured its highest share of the Chinese market in six years in November, gaining momentum in the world’s most populous market, company officials said Friday, Kia posted a China market share of 4.1 percent last month, the largest since October 2005 when it reached 4.7 percent.Kia achieved record China sales of 45,768 units last month with the newly launched mid-sized sedan
Dec. 16, 2011
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Young customers account for 22% of import car buyers
The ratio of young customers to total buyers of import cars has surged by about 10 percentage in five years.According to the Korea Automobile Importers and Distributors Association, the number of buyers of foreign-made cars in their 20s and 30s accounted for 22.7 percent of customers in 2011, compared to 12 percent in 2006.The proportion young customers in the import automobile market, which stayed below 10 percent 10 years ago, continued to increase to 17.6 percent in 2009 and 20.3 percent in 2
Dec. 13, 2011
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Hyundai Motor chief stresses internal strength
Hyundai Motor Group chairman Chung Mong-koo called for heads of overseas corporations to prioritize enhancing internal stability amid the unfavorable global market conditions.His remarks come during a meeting of overseas corporations’ presidents from countries such as the U.S., China and India with the Hyundai-Kia staff at their headquarters in Seoul.Chung was quoted by a Hyundai executive as saying that “Hyundai Motor and Kia Motors have posted great performances. The global automotive industry
Dec. 12, 2011