The Volvo P1800 has turned 50. The eye candy of classic style lovers debuted in 1961, and shaped the image of Volvo as a maker of vehicles with style and diamond-hard durability. The design by Peitro Frua later morphed the sports car into a Grand Turismo Estate that inspired the Volvo 30 ― the modern equivalent of the P1800. The 1800 model boasts world famous durability, with the 1800S headed for

MobilityJune 5, 2011

Mercedes-Benz Korea is offering check-ups and coolant replacement free of charge until June 25, the company said. Available at 23 services across the country, the promotional offer celebrates 125 years of its business operation. The local office of German carmaker is also offering 16 percent discount on selected components as part of the offer. “The check-ups are to help drivers prepare their summ

MobilityJune 5, 2011

Kia Motors Corp., Korea’s second-largest automaker, announced plans last week to raise output at its Georgia plant by 20 percent, underscoring the U.S. industry’s biggest market-share gain this year.Kia, an affiliate of Hyundai Motor Co., raised its U.S. share 0.8 percentage points to 3.8 percent through May, topping gains of 0.7 point for General Motors Co. and 0.6 point for Hyundai, according to

MobilityJune 5, 2011

Toyota Motor president Akio Toyoda vowed to become the champion of sales among foreign automakers in Korea by 2014, promising tough competition with German players.During his visit to Seoul over the weekend, Toyoda said, “Though we may not able to restore our brand image all at once, we will make efforts to top the list of Korea’s import car market within three years.”The CEO’s commitment came dur

MobilityJune 5, 2011

High-end vehicles lead foreign carmakers’ charge in Korean marketBuoyed by a growing love for sports cars by the well-to-do, foreign luxury car brands are upping their share of the domestic car market.Auto analysts say more are turning to exotic options accompanying fast, topless thrills often with luxury amenities like rain-sensing windshield wipers and automatic climate control with pollen filte

MobilityJune 5, 2011

ATHENS (AFP) ― Hundreds of people from Greece’s two main private and public sector unions protested in central Athens Saturday to condemn the government’s new bailout deal with international lenders.Around 1,500 people marched to the capital’s main Syntagma Square, in front of the Greek parliament, with banners proclaiming: “No to the new memorandum” and “Resist!”Protesters from a communist-backed

IndustryJune 5, 2011

WASHINGTON (AFP) ― The International Monetary Fund said Friday it had okayed a sixth tranche of $225 million in financing for Iceland, citing Reykjavik’s “impressive progress” in post-crisis restructuring.The IMF said Iceland’s economy would likely return to growth this year, but still faced risks from inflationary pressures, delays in investment projects, joblessness and slow private sector debt

IndustryJune 5, 2011

Kumho Petrochemical Chairman Park Chan-koo was on Friday summoned by prosecutors over allegations that he created slush funds and gained illegal profit on the back of exclusive, internal information.The prosecution believes the slush funds may amount to up to 30 billion won ($27.7 million).Park, however, denied any wrongdoing, saying he would “clear everything” during the questioning session. Park

IndustryJune 3, 2011

Korea launches task force to enforce strict origin managementLack of strict origin management by the government is making it difficult for local exporters to take advantage of preferential tax treatment they are entitled to once the Korea-EU free trade agreement goes into effect on July 1.Only one-quarter of local companies eligible for tax benefits from the trade deal have attained certificates p

June 3, 2011

(MCT)Scientists discovered tiny worms in deep earth where it was thought creatures could not survive, Science News reported. The discovery of the worm “Halicephalobus mephisto,” and “Plectus aquatilis,” found 1.3 kilometers deep in South African mines, hints that habitable environments may exist on other planets, such as Mars, according to the report. They are the deepest-living known “multi-cellu

TechnologyJune 3, 2011

Chief of the laboratory in research into the Escherichia Coli bacterium at the Brno research institute Pavel Alexa, left, and his assistant Gabriela Glocknerova, right, take samples from a pepper for a molecular biological test in Brno, Czech Republic, Wednesday, June 1, 2011. The ongoing outbreak of E. coli has claimed 16 people and around 1500 infected across Europe. The laboratory is testing th

TechnologyJune 3, 2011