[Herald Interview] Volvo CE president highlights Korea as global excavator hub

Mergers and acquisitions are approached carefully and reviewed in depth. While they can help make the company an industry leader, they can also destroy in the company by overloading it in debt.Volvo Construction Equipment Korea, which was created when the Swedish company purchased the construction equipment business from Samsung Heavy Industries in 1998, celebrated its 20th anniversary last week in a festive mood, looking back on the growth achieved.Volvo CE President Melker Jernberg who visited

Oct. 21, 2018

Incheon to consider retrieving land from GM Korea over spin-off plan

The South Korean city of Incheon said Sunday it will consider retrieving land that it offered to General Motors Co.‘s local unit for use as a test track as the company pushes ahead with a plan to spin off its research division. GM Korea’s shareholders approved the split plan Friday, sparking concerns that the US carmaker may keep only its research facility in South Korea and eventually shut down its manufacturing facilities here. Incheon provided the 410,000-square-meter land to GM with a 30-yea

Oct. 21, 2018

GM Korea R&D center spinoff vote sparks new round of disputes with KDB, labor union

GM Korea’s push to spin off its R&D center as a separate corporate body has fueled a new conflict with the state-run Korea Development Bank and unionized workers just seven months after they agreed on long-term cooperation this April.In the latest development, GM Korea’s shareholders will convene Friday afternoon to vote on the spinoff, following the Incheon District Court’s rejection of the injunction KDB filed to put off the vote.As the Korean carmaker’s second-largest shareholder, with a 17.0

Oct. 18, 2018

Hyundai, Kia reviewing US Senate request to testify over engine fire

Hyundai Motor America and Kia Motors are reviewing a request from the US Senate to testify over engine fires in its vehicles, officials in Seoul said Thursday, quoting statements from their US branches. “Hyundai received the request to appear from the Senate Commerce Science & Transportation Committee and is currently reviewing it,” the company said.“Hyundai actively monitors and evaluates potential safety concerns, including non-collision fires, with all of its vehicles and acts swiftly to reca

Oct. 18, 2018

Hyundai, Kia reviewing US request to testify on engine fires

Hyundai Motor Co. and Kia Motors Corp., South Korea's two biggest carmakers by sales, said Thursday they are reviewing a US request to testify in regards to engine fires in their cars next month.Hyundai and Kia's US operations received the request from the Senate Commerce Committee to appear at a hearing on Nov. 14 on reports of engine fires in their vehicles. Management is "currently reviewing" the request, a Hyundai spokesman said over the phone.   Global headquarters of Hyundai Motor Co. and

Oct. 18, 2018

Hyundai partners with French firms for hydrogen drive

Hyundai Motor has signed a memorandum with French energy firms to expand the sale of hydrogen fuel cell vehicles, the company said Wednesday.Under the agreement, the South Korean carmaker will partner with Air Liquide SA and Engie to promote the use of FCEVs and hydrogen refilling stations across France.The agreement came after Hyundai announced a plan to export 5,000 FCEVs to France by 2025.Hyundai Motor President Chung Jin-haeng (left), Engie President for hydrogen business Michele Azalbert (c

Oct. 17, 2018

VW seeks bigger presence in premium sedan market with Arteon

In a market segment dominated by domestic brand Hyundai and German luxury cars, Volkswagen is seeking a greater presence in the highly competitive sector by introducing its flagship model Arteon, the company’s Seoul branch said Wednesday. Volkswagen’s premium sedan Arteon (Volkswagen Korea)Arteon is a four-door coupe that combines design elements of classic sports car and fastback models. The premium model opens a new chapter in Volkswagen’s design history and is expected to be an exclusive prod

Oct. 17, 2018

Renault Samsung launches Master van to diversify model lineup

Renault Samsung Motors Corp., the South Korean unit of Renault SA, on Monday launched the Master van in Korea as part of its effort to diversify its lineup. The Renault Master comes with a three-year power train and auto components' warranty for 100,000 kilometers, the company said in a statement.   (Renault Samsung Motors Corp. - Yonhap)The Master S version is priced at 29 million won ($26,000) and the Master L version carries a price tag of 31 million won, the statement said.The van is equippe

Oct. 15, 2018

President Moon test rides Hyundai Nexo FCEV in Paris

South Korean President Moon Jae-in test rode the Hyundai Motor Nexo fuel cell electric vehicle during his state visit to France on Sunday afternoon and observed the charging process of a Tucson FCEV taxi.This marked Moon’s second test ride on the Nexo SUV, following his firsthand experience of the SUV’s driverless technology in Seoul this February.South Korea’s No.1 carmaker Hyundai Motor is slated to sign a memorandum of understanding on Tuesday with French industrial gas supplier Air Liquide a

Oct. 15, 2018

Korea mini car sales fall to 10-year low last month

Mini car sales in South Korea fell to a 10-year low last month due to lower demand and reduced tax benefits, local carmakers' sales data showed Sunday. In September, sales of mini cars plunged to 8,627 units, the lowest figure since the 8,172 units in January 2009, according to sales data offered by the country's three carmakers.  (Yonhap)Mini car models, mostly with a 1.0-liter gasoline engine, sold in Korea include Kia Motors Corp.'s Morning and Ray, GM Korea Co.'s Chevrolet Spark and Renault

Oct. 14, 2018

[Herald Interview] Dream Gream offers taste of real art world, broadens aspirants’ horizons

Getting a glimpse of the real world and experience in their field of interest is important for all students, especially for young artists who aspire to portray different aspects of life through their work.Han Sung Motor, the largest official dealer of Mercedes-Benz here, which initiated the CSR art project Dream Gream in 2012, participated in the 17th Korea International Art Fair earlier this month to broaden the horizons of young artists by enabling them to take part in one of Asia’s biggest ar

Oct. 14, 2018

Hyundai Mobis eyes better driving convenience, infotainment with startups

South Korean auto parts maker Hyundai Mobis is seeking collaboration with two local startups selected through its M.Start contest in an effort to gain the upper hand in in-demand mobility technologies, the company said Thursday.Genesis Lab and Linkflow were chosen among 155 candidates for their artificial intelligence-based image and voice recognition technologies.“The latest cooperation is aimed at advanced acquisition of innovative technology. Mobis will lead the market by boosting cooperation

Oct. 11, 2018

Conflict at GM Korea deepens over R&D center spinoff

Amid mounting tensions surrounding US automaker General Motors’ move to separate GM Korea’s research and development center as an independent body, conflict at the local unit is expected to deepen with the union, which is slated to hold a vote on staging a strike over the move.The issue also took center stage at Wednesday’s parliamentary inspection where politicians grilled related government officials and the carmaker.As GM Korea pushes forward its R&D center separation plan that has been in th

Oct. 10, 2018

[Behind the Wheel] Electric Kia Niro flaunts 385km driving distance, affordable charging

GONGJU, South Chungcheong Province -- Riding the wave of green cars, Kia Motors recently released its first fully electric vehicle, the Niro, highlighting its driving distance of 385 kilometers per charge -- enough to drive from Seoul to the southern port city Busan. South Korea’s roads, which until now have been packed with gasoline-powered sedans, mostly black or white in color, are going through a transition with the influx of eco-friendly cars such as electric vehicles, plug-in hybrid electr

Oct. 9, 2018

[From the Scene] Czech factory drives Hyundai’s Europe expansion

NOSOVICE, Czech Republic -- Located in the industrial zone of Nosovice, a four-hour train ride from the Czech capital of Prague, Hyundai Motor’s plant is where the carmaker’s popular hatchback and sports utility vehicle series are born. On a 2 square-kilometer plot, the plant has full auto manufacturing capabilities, and is partly operated by robots. Considering the massive size of the plant, there are not many workers around. Instead robot arms move endlessly to weld steel components.  Workers

Oct. 9, 2018

Benz Korea opens AMG Driving Academy

Mercedes-Benz Korea, the local unit of the German luxury carmaker, has launched the AMG Driving Academy with an aim to make the AMG Speedway an automotive cultural complex, the company said Monday.Benz Korea’s latest program will begin in November by opening the AMG racetrack to a wider audience.“Participants of the program will not only experience the excitement of driving, but also learn safe driving skills and car racing techniques in an effective manner. Anyone who wishes to participate can

Oct. 8, 2018

S. Korea's auto exports fall 6.8% in first 7 months of 2018

South Korea's auto exports fell 6.8 percent on-year in the first seven months of 2018, with outbound shipments declining across the board except in Europe, a local think tank said Sunday.The latest findings by the Institute for International Trade showed car export growth has been trailing off since 2011 and from 2016 onwards it has not been able to keep pace with total outbound shipment growth for the country as a whole. (Yonhap)In the January-July period, exports by Asia's fourth largest econo

Oct. 7, 2018

SsangYong unveils 2019 models with better safety, performance, prices

SsangYong Motor has released a series of new models of sport utility vehicles with enhanced safety, performance and price competitiveness.Last month, the company launched the 2019 edition of its SUV Tivoli under the slogan of “I am me, I am Tivoli.”SsangYong Motor’s Tivoli Armour 2019 (SsangYong Motor)The special model features two colors -- orange pop and silky white pearl, to symbolize vitality, youth and energy. It also sports a newly designed hood, fender and door garnish, expanding the rang

Oct. 7, 2018

Passion, confidence build in Germany for Hyundai’s ambitious motorsport push

FRANKFURT, Germany -- Of the many auto mechanical devices -- mostly cold and heavy metal -- ever invented in human history, perhaps nothing has made people's hearts beat more than cars. Millions around the world go wild watching various flavors of motorsports competitions from Formula One to World Rally Championship, which tests both human limits and the high-performance capabilities of the cars. Marking a meteoric rise, Hyundai Motor’s racing team has been sweeping up championship titles in rec

Oct. 7, 2018

Import diesel cars market presence falling amid comeback of gasoline vehicles: KAIDA

The market presence of imported diesel cars in South Korea has backtracked in South Korea in the face of a comeback by gasoline vehicles, industry data showed Sunday.According to the Korea Automobile Importers and Distributors Association (KAIDA), the number of newly registered diesel cars in the country reached 4,530 units in September, less than half that of gasoline vehicles -- 11,187. (Yonhap)In the first nine months of this year, 86,841 diesel vehicles were sold in Asia's fourth largest eco

Oct. 7, 2018