Half of Hyundai, Kia cars sold in US are SUVs

More than a half of new cars manufactured by South Korean carmakers Hyundai and Kia sold in US were sport utility vehicles, reaching the highest mark since they launched operations in the world’s second-largest auto market, the companies said Sunday. Of the 1.2 million vehicles Hyundai and its smaller affiliate Kia sold as of November, 668,328 units or 55.4 percent of the total were SUV, from 30.9 percent in 2013. The number of SUVs sold by November already has surpassed the figure for las

Dec. 8, 2019

Kia to accelerate sales in India as new plant kicks off

Celebrating the launch of its latest overseas plant in India, Kia Motors said Thursday it will expand its portfolio of “Made-in-India” products next year and introduce fully digitalized sales and service channels for customers.The South Korean auto giant officially opened its new production facility in Anantapur district in the state of Andhra Pradesh, built with an investment of $1.1 billion. It started operations in July rolling out the Seltos compact SUV, the company’s first

Dec. 5, 2019

Hyundai Motor to invest W61.1tr for R&D, future tech under 2025 road map

Hyundai Motor said Wednesday it plans to invest 61.1 trillion won ($51 billion) in research and development and future technology by 2025, with the aim of transforming into a smart mobility solution provider. Under the Strategy 2025 road map, the automaker will foster smart mobility devices and smart mobility services as the two main pillars of its business.“The key to our future strategy is to focus on customers and to present the most desirable products and services. We want to offe

Dec. 4, 2019

Mercedes-Benz Mobility Korea introduces long-term car rental program

Daimler Mobility -- a subsidiary of Daimler Group, which owns Mercedes-Benz -- officially kicked off operations in South Korea on Tuesday, offering a long-term car rental program. Mercedes-Benz Mobility Korea is the first of its kind globally and the fourth entity of the Daimler Group to launch operations in Korea. The company said it will offer a tailor-made mobility product under its concept of “mobility at your fingertips.”“We will offer one- to five-year long-term

Dec. 3, 2019

Monthly sales of Renault Samsung’s QM6 surge 50% on-year

Renault Samsung, a South Korean subsidiary of the French carmaker, sold 5,648 units of its sport utility vehicle QM6 in November, up 50 percent from the same month last year, the company said Monday.It was the first time since 2016 that sales of the QM6 surpassed the 5,000 mark. It ranked second in the mid-sized SUV segment, after Hyundai Motor’s Santa Fe, added the company. Driven by growing interest in vehicles powered by liquefied petroleum gas, 3,626 units of the QM6 LPe were sold

Dec. 2, 2019

7 importers to recall over 12,000 vehicles

Seven distributors of foreign car brands in South Korea are voluntarily recalling more than 12,000 vehicles over faulty parts, the Ministry of Transport said Monday.Audi Volkswagen Korea, FCA Korea, Porsche Korea, Scania Korea, Bike Korea, Moto Rossa and Hanbul Motor -- which imports Peugeot and Citroen vehicles -- will recall 12,053 units of 16 models.VW’s Tiguan was found to have a faulty air bag while Peugeot 5008 1.5 BlueHDi SUV reported problems with the spare tire holder. Defects in

Dec. 2, 2019

Hanwha chief’s eldest son promoted to Hanwha Q Cells VP

Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been promoted as the vice president of Hanwha Q Cells and Advanced Materials, the conglomerate’s solar panel maker.The 36-year-old chaebol scion has been serving as the chief commercial officer and a senior executive of Hanwha Q Cells for four years. Officials said he was promoted in recognition of his contributions in raising the company’s profile as the world’s leading photovoltaic panel manufacture. H

Dec. 2, 2019

Han Sung Motor’s Dream Gream students to participate in Seoul Design Festival

A corporate social responsibility project by Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, will join the 2019 Seoul Design Festival that kicks off Wednesday for a five-day run.Taking place at Coex in southern Seoul, the annual event invites prominent designers, design brands and companies to exchange their artistic talents and to support local designers in making international debuts. Recipients of Han Sung’s Dream Gream scholarship program will demonstr

Dec. 2, 2019

[Newsmaker] Tada claims legitimacy by adding mobile tech to existing service

Top executives of van-hailing service Tada, which is owned by car-sharing company SoCar, argued in court on Monday that their operations are fully within the ambit of current laws.They claimed during the first trial held at the Seoul Central District Court that the company has only upgraded an existing business model with a mobile application platform. SoCar CEO Lee Jae-woong and CEO Park Jae-wook of its subsidiary and Tada operator VCNC attended the trial after they were indicted by prosec

Dec. 2, 2019

[Foreign Execs in Korea] Audi VW Korea gears up to regain market leadership

The two-year hiatus in South Korea where Audi Volkswagen Group held years of market leadership has been a lesson to reorganize its operational structure and restore strength for another leap forward, according to a top executive. Audi VW Korea Group Managing Director Rene Koneberg told The Korea Herald that the company is “back on the track” to regain market leadership next year, armed with a wide range of lineups and customer services reinforced in line with restoration of public tr

Dec. 1, 2019

Hyundai Glovis enters used car, shipping markets in China

Hyundai Glovis said Thursday it has launched two joint ventures in China to make a foray into the local used car and shipping markets.The subsidiary of Hyundai Motor Group and Beijing Changjiu Logistics have set up two separate JVs -- Beijing Changjiu Glovis Automobile Service and Shanghai Changjiu Glovis Shipping. The two JVs will be launched early next year, the company said without disclosing the size of investments.The first JV seeks to target China’s growing secondhand car market, whi

Nov. 28, 2019

Mercedes-Benz Korea delivers first new EQC

Mercedes-Benz Korea said Thursday that it has delivered its new EQC to the model’s first customer in South Korea. The vehicle, launched here Oct. 22, is the German carmaker’s first full electric vehicle under the EQ brand.The delivery ceremony at the EQ Future Pavilion in Seoul’s Sinsa-dong was attended by Lee Sang-kuk, vice president of sales at Mercedes-Benz Korea, and Mark Raine, the company’s vice president of products and marketing. They delivered the new EQC to

Nov. 28, 2019

BMW vows to expand R&D center, partnerships with Korean firms

YEONGJONGDO, Incheon -- BMW Group Korea said Tuesday it will expand its research and development center in South Korea and increase its partnerships with local firms.BMW Finance board member Nicolas Peter told reporters that the German carmaker plans to strengthen its R&D center here by relocating and hiring 13 additional employees to have 29 staff in total.But the company did not clarify the exact scale or funding for the expansion.“We will invest in a new location for our R&D Cen

Nov. 27, 2019

Hyundai Motor’s GBC construction to begin next year

Hyundai Motor Group has received the green light to begin construction of its new headquarters, dubbed the Global Business Center, in Samseong-dong in Seoul in the first half of next year. Targeting for 2026 completion, the automaker said it has reached a phased agreement deal with the Defense Ministry and received municipal approval.The project was initially scheduled to start construction in December 2016 but it hit a snag for years due to concerns over national safety in cases of air-to-

Nov. 26, 2019

[ASEAN-Korea summit] Hyundai Motor clinches $1.5b deal with Indonesia to build automotive plant

Hyundai Motor Group on Tuesday clinched a $1.5 billion investment deal with the Indonesian government to construct an automotive plant in Delta Mas in Bekasi, Indonesia, which will be the automaker’s first finished car production facility in the Southeast Asian region.The investment clinching ceremony was attended by President of Indonesia Joko Widodo, Coordinating Minister for Maritime Affairs and Investment of Indonesia Luhut Binsar Pandjaitan, Coordinating Minister for Economic Affairs

Nov. 26, 2019

Han Sung Motor holds lantern-lighting ceremony for public art

Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, held a lantern-lighting ceremony Thursday as part of its collaborative public art project with the Seoul Foundation for Arts and Culture.A public art projected titled “Sowon Bandi” was designed to invite citizens to write their personal wishes and dreams on each of 5,000 solar-power lanterns, donating 10,000 won ($8.50) for each one.The ceremony was attended by the heads of the two sponsors -- Han Sung Motor

Nov. 24, 2019

[Herald Interview] Rising power demand in ASEAN signals opportunity for LS C&S Asia

ANYANG, Gyeonggi Province -- The economies of Association of Southeast Asian Nations members have been on a roller-coaster ride in recent years, pushing them to speed up their social and industrial transitions as advanced states. Such rapid modernization, like that which South Korea went through in the 1970s and ’80s, involves massive investments in infrastructure, which will provide more opportunities for LS Cable and System Asia, said its President and CEO Kwon Young-il in an interview.&

Nov. 24, 2019

[Behind the Wheel] The New Grandeur gains a bold, younger and sportier look

Hyundai Motor’s flagship full-size sedan Grandeur has been positioned as a luxurious car for the older generation and people with high social status in their late 40s and 50s in South Korea.But with the New Grandeur, the automaker has transformed itself, seeking to target those in their early 40s and encourage the older generation to seek a bold and sporty image with their cars, even threatening the market for the new Sonata and affiliate Kia Motors’ steady-selling sedan K7.The Korea

Nov. 22, 2019

Kia unveils all-new K5 with interactive tech, bold design

Kia unveiled the third generation of its bestselling sedan K5 on Thursday and commenced preorders, highlighting its futuristic design and interactive voice control technology.Through the use of “active” interaction technology, passengers can control the air conditioner, air filtering, windows, electronic heat systems for the seats and rear window via voice commands, according to the company. In addition, a car-to-home system allows passengers to keep a tab on internet of things devic

Nov. 21, 2019

Hyundai Motor begins sales of facelifted New Grandeur

Hyundai Motor began sales on Tuesday of its flagship full-size sedan The New Grandeur, which has undergone some drastic design changes since the sixth-generation Grandeur IG was launched in 2016. Under the slogan “Sensuous Sportiness,” Hyundai Motor has applied an integrated-type front grille with a checkered pattern called a “parametric jewel pattern.” The automaker has also used daytime running lamps, headlights that look like part of the front grille when turned o

Nov. 19, 2019