Abarth 695 Tributo Ferrari super car

GENEVA (DPA) ― A stunner at the upcoming Geneva Motor Show is the Abarth 695 Tributo Ferrari ― a tiny super car in red, Scuderia-style stripes, lashings of mesh grille and unique Ferrari badging, and based on the Abarth 500.Built in cooperation with Ferrari, the 1.4-liter turbo motor has an output of 180 horsepower compared to the 135 hp of the standard model with acceleration from zero to 100 km/

MobilityFeb. 27, 2011

Eco-Porsche Panamera headed for Geneva

STUTTGART, Germany (DPA) ― Porsche is presenting its second hybrid vehicle in the form of the Panamera S Hybrid at the Geneva Motor Show next month with an output of 380 horsepower and a consumption of only 6.8litres per 100 kilometers.Similar to the Cayenne, the Porsche Panamera S Hybrid is fitted with a 3-litre V6 compressor motor delivering 333 hp with the electric motor adding an additional 34

MobilityFeb. 27, 2011

Mercedes to unveil sporty two-door coupe in Geneva

STUTTGART, Germany (DPA) ― Marking its 125th birthday Mercedes is entering for the first time the two-door compact coupe segment with a C-Class Coupe, deploying much of the same technology as in the recently launched C-Class.Tailored to a customer group aged 35-45, “we are consciously targeting new customers,” according to the head of Mercedes Sales and Marketing, Joachim Schmidt.Typical coupe fea

MobilityFeb. 27, 2011

Seoul shares to fluctuate on Libya crisis this week

Korean shares will likely remain bearish this week as the political unrest in the Middle East will continue to drive up oil prices, adding more inflationary pressure on the economy, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,963.43, down 2.5 percent or 49.71 points from a week earlier on massive selling by foreign investors, who dumped 600 billion won ($531 m

Feb. 27, 2011

SK launches mobile chip venture in China

HONG KONG (Yonhap News) ― The main Chinese subsidiary of SK Group has launched a mobile joint venture in the country in a bid to tap into its mobile solution industry, the group’s flagship company said.SK China, established in July 2010 through the joint investment of SK Group subsidiaries, has established a 19 billion won ($16.8 million) joint venture called “SKMtek” with MtekVision, Korea’s lead

IndustryFeb. 27, 2011

Korea to delay carbon trading to 2015

Korea’s government is delaying carbon emission trading to 2015 after opposition from the industry to implement it in two years.The revised bill, which reflects feedback from businesses, will be submitted to parliament in March, Kim Sang-hyup, the presidential secretary for green growth, said Saturday.President Lee Myung-bak said on Feb. 7 the emission-trading plan will be implemented in a “flexibl

Feb. 27, 2011

Lee’s business diplomacy expands market

Emphasis on free-trade deals has increased access for Korean exportsPresident Lee Myung-bak’s emphasis on business diplomacy for the past three years has been catapulted Korea to the forefront of free trade and international global coordination that helped the world tide over the worst downturn since the Great Depression. Korea’s first CEO-turned-president is praised for pulling the country out of

Feb. 27, 2011

Porsche spring service campaign

Stuttgart Sports Cars, Korea’s official Porsche importer, is holding a service campaign from March 2 through to March 31.During the period, the company is offering free checkup services at authorized service centers using the German carmaker’s Porsche Integrated Workshop Information System tester.The company is also offering a 10 percent reduction on parts and related labor charges, including tire

MobilityFeb. 27, 2011

Hyundai joins German hydrogen car project

Hyundai Motor Co. and Kia Motors Corp. signed a deal with German organizations to take part in the European nation’s government-led Clean Energy Partnership on Friday. Under the agreement, Hyundai Motor Group’s two carmakers will supply hydrogen fuel cell vehicles to the German government’s hydrogen automobile project.“With the MOU, Hyundai and Kia secured a chance to introduce its technology for

MobilityFeb. 27, 2011

S. Korean manufacturers' sentiment edges down for Q2

 South Korean manufacturers' confidence inched down for the second quarter on jitters over currency volatility and rising costs of raw materials, a poll showed Sunday.   In its survey of 1,326 local manufacturers, the Korea Chamber of Commerce and Industry (KCCI) said the business sentiment index slipped to 108 for the April-June period from 111 for the current quarter.   A reading above 100 means

Feb. 27, 2011

Volkswagen, Peugeot to recall 3,241 vehicles due to defective parts

   French automaker PSA Peugeot Citroen and German automaker Volkswagen AG will recall 3,241 vehicles in South Korea due to defective parts in their braking systems and fuel pipes, the transportation ministry said Sunday.   Peugeot's 2,962 vehicles manufactured and sold here between Dec. 15, 2006 and Feb. 24, 2009 are subject to the recall, according to the Ministry of Land, Transport and Maritime

MobilityFeb. 27, 2011

S&P remains negative on Hana Bank's expected acquisition of KEB

Standard & Poor's Ratings Services said Saturday that it continues placing Hana Bank on its "negative watch" list as the lender is getting closer tocomplete the acquiring of Korea Exchange Bank.Hana Financial clinched a deal last November with U.S. buyout fund Lone Star Funds to buy South Korea's fifth-largest lender for 4.69 trillion won ($4.19 billion), which it said would be paid with internal

Feb. 26, 2011