Hyundai, Kia see record-high new car registrations in Europe 2017

Hyundai and Kia Motors, South Korea’s top two automotive companies by sales, posted a record-high 995,383 units of newly registered vehicles in Europe last year, industry data showed Thursday.The combined number of newly registered cars made by the two companies rose 5.8 percent on-year in 2017 to 995,383 units from 940,693 units in the previous year, according to data from the European Automobile Manufacturers Association (ACEA). Registrations of Kia Motors’ cars jumped 8.5 percent on-year to 4

Jan. 18, 2018

Hyundai Motor Group moves to improve shareholder rights

Hyundai Motor Group has decided to select a director representing shareholders out of candidates recommended by shareholders, seeking to boost shareholder’s rights and interest, the group said Thursday. Under the new system, stockholders here and overseas can recommend candidates through a website to the board dedicated to transparent management.Previously, an outside director in the board responsible for transparent management was chosen to represent shareholders, Hyundai Motor said.The nominat

Jan. 18, 2018

Hyundai Motor vice chairman pledges W23tr investment in new businesses

YONGIN, Gyeonggi Province -- Hyundai Motor Vice Chairman Chung Eui-sun on Wednesday met with Finance Minister Kim Dong-yeon, pledging to invest some 23 trillion won ($21.6 billion) and hire 45,000 workers across its five new growth engines in the next five years.The five areas are automated and connected vehicles; smart cars; robot and artificial intelligence; future energy; and startups.“Hyundai Motor will try harder to secure future growth engines and to provide more opportunities for subcontr

Jan. 17, 2018

Concept cars from Japan automakers offer glimpse into future

DETROIT — Japanese vehicle brands are exploring new design ideas — and figuring out what sets them apart from their US and European rivals — with new prototype vehicles.Nissan, Infiniti and Lexus are all unveiling new concept cars at the Detroit auto show, which opens to the public Saturday. Infiniti`s Q Inspiration concept appears on display at the North American International Auto Show, Tuesday, Jan. 16, 2018, in Detroit. (APConcepts are used to test ideas and see how show visitors react. Some

Jan. 17, 2018

GM denies linking investment plan to state support

GM Korea on Tuesday denied local reports that Barry Engle, president of General Motors International, had proposed an investment scheme to the Seoul government worth some $1 billion in exchange for increasing production at a local plant during his visit last week.“President Barry Engle met related officials to discuss the future of GM Korea. We continue to work with key stakeholders to turn around our financial performance,” said a spokesperson of GM Korea. “However, there were no financial inve

Jan. 16, 2018

[Herald Interview] Pyeongtaek Port seeks to develop independent profit model

As the only global trade port in Gyeonggi Province and a gateway to South Korea, Pyeongtaek Port has been logging rapid growth particularly in trade with China. And standing in the vanguard for the port’s exemplary buildup is Gyeonggi Pyeongtaek Port Corp.Despite being relatively “young” port, established in 2011, Pyeongtaek Port currently is the top port in export and import volumes of automobiles in the country and is now looking to expand its connections to Southeast Asia.Leading such venture

Jan. 16, 2018

[Photo News] BMW Korea hosts 5th Young Engineer Dream project

Students participate in the 5th Young Engineer Dream project hosted by the BMW Korea Future Foundation at its driving center on Yeongjongdo in Incheon last week. The three-day program was held to help students explore career paths, while introducing them to the history of BMW and Mini, as well as the carmaker‘s crucial technologies. (BMW Korea)

Jan. 15, 2018

Volvo Korea scores record sales in 2017, supply shortage lingers

Volvo Car Korea, the local importer and distributor of the Swedish automaker, sold a record 6,604 units here in 2017, the company said Monday. But the sales growth has brought about a supply shortage, leading to a rise in consumer complaints.Led by the popularity of the XC60 midsize sport utility vehicle, the carmaker’s sales rose 26.9 percent year-on-year to 6,604 units in 2017 from 5,206 units in 2016, the company said. This marks the fourth consecutive year that the carmaker has reaped an ann

Jan. 15, 2018

Half of Hyundai USA’s sales will be SUVs by 2020: Hyundai US chief

ORANGE COUNTY, California -- Hyundai Motor USA will increase sports utility vehicle sales to 50 percent of its total sales by 2020, up from 38 percent last year, its chief said.Lee Kyung-soo, the head of Hyundai USA, the regional office in charge of the South Korean auto giant’s operations in North America, said the carmaker will have eight new re-engineered SUVs in the next three years, including Hyundai’s first-ever pickup truck, the Santa Cruz. The concept of the small crossover pickup was un

Jan. 14, 2018

LG Electronics to showcase auto parts at Detroit motor show

LG Electronics Inc. said Sunday it will take part in the North American International Auto Show held in the United States to boast its vehicle-part solutions to global carmakers. During the event which runs through Jan. 28 in Detroit, the Korean tech company will introduce its vehicle components to global car manufactures. It marks the second consecutive year for LG to take part in the exhibition.  (Yonhap)In line with efforts to find new growth engines, LG Electronics, a major home appliances m

Jan. 14, 2018

Imported car makers in Korea compete to launch driving centers

In response to growing imported car sales in South Korea, carmakers are striving to bolster brand loyalty by building centers for drivers where they can experience high-performance vehicles.BMW Korea, the local unit of the luxury German carmaker, took the lead by introducing its driving center on Incheon’s Yeongjongdo in 2014 amid skepticism surrounding the new automotive venue.Three years later, it has become one of the most well-known and popular places to visit among Korean drivers and touris

Jan. 12, 2018

[CES 2018] Hyundai Mobis to unveil automatic valet parking technology this year

LAS VEGAS -- Waiting in line for a vacant parking space in shopping malls and offices may no longer be necessary starting later this year. In an announcement made at the Consumer Electronics Show in Las Vegas on Wednesday, Hyundai Mobis, a car parts maker under South Korean auto giant Hyundai Motor, said it will unveil an automatic valet parking system by the end of this year. The system would enable a vehicle to park itself in a remote space after a driver gets off at his or her destination. Th

Jan. 11, 2018

Hyundai Motor taps into Southeast Asia with ride-sharing service Grab

Hyundai Motor, South Korea’s largest automotive company by sales, has invested in the Singapore-based carpooling service Grab to tap into the Southeast Asian mobility market, the company said Thursday.Established in 2012, Grab is also known as the Uber of Southeast Asia, boasting a market share of some 75 percent in the region.It currently operates in eight Southeast Asian countries across 168 cities with 2.3 million users and 3.5 million rides made daily.“The convergence of Grab’s competitivene

Jan. 11, 2018

[Newsmaker] Hyundai heir calls THAAD crisis opportunity in disguise

LAS VEGAS -- For Hyundai Motor Group, 2017 was a nightmare. The South Korean carmaker’s sales in China, the automaker’s biggest market, plummeted more than 50 percent due to a near-boycott movement among local customers amid a diplomatic row over Seoul’s decision to deploy the US’ Terminal High Altitude Area Defense anti-missile system. Many described the situation as an unprecedented crisis for Hyundai, which has been on a rollercoaster ride since the early 2000s. Chung Eui-sun, heir to the wor

Jan. 10, 2018

[CES2018] Hyundai, Cisco to add gigabit network for new cars

LAS VEGAS -- South Korean auto giant Hyundai Motor will produce a hardware platform to operate a gigabit network for its premium cars hitting the market next year, the companies said Tuesday.The new in-vehicle network enables high-speed transfer of data and offers integrated, multilayered security, as well as full end-to-end networking, Hyundai said in an announcement with Cisco at the Consumer Electronics Show in Las Vegas.The development of first-generation solutions to enable 1 gigabit-per-se

Jan. 10, 2018

[CES 2018] Q&A: Meet Hyundai heir back stage

LAS VEGAS --Addressed as “E. S. Chung,” for the finale of Hyundai Motor’s press conference at the Consumer Electronics Conference held on Monday, Vice Chairman Chung Eui-sun, heir to South Korea’s biggest carmaker faced a barrage of questions from reporters covering the event. The 46-year-old who spent many years as the heir to the auto giant said, in fluent English, that the carmaker is competing with major carmakers for future vehicle technology, but is also collaborating with them for market

Jan. 9, 2018

[CES 2018] Hyundai unveils Nexo as new self-driving platform at CES

LAS VEGAS -- With major carmakers facing challenges in making vehicles both environmentally friendly and autonomous, South Korean auto giant Hyundai unveiled a next-generation hydrogen-powered sport utility vehicle Monday, touting the vehicle as the most reliable self-driving platform.Nexo is the successor of the Tucson FCEV, the carmaker’s first fuel cell SUV launched in 2013. The latest model can drive nearly 600 kilometers per charge, a 40 percent increase from its predecessor, therefore maki

Jan. 9, 2018

SsangYong rolls out pickup-SUV

SsangYong Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra, has released a pickup-sport utility vehicle dubbed Rexton Sports in a move to take over the midsize SUV market, the company said Tuesday.“Rexton Sports is a premium open-style SUV that will refresh the midsize SUV market longing for change,” said SsangYong Motor CEO Choi Jong-sik during a media conference held in eastern Seoul. “It will solidify SsangYong as a traditional SUV powerhouse adding on to achievements reape

Jan. 9, 2018

[CES 2018] Hyundai keen on tech tie-up, even if it’s with Samsung

LAS VEGAS -- International motor shows have long been a gateway for many carmakers like Hyundai Motor Group to win global recognition. However, the South Korean auto giant is increasingly paying attention to tech shows including the Consumer Electronics Show, rather than the Detroit Motor Show, an event scheduled for the end of this month. Defining itself as a latecomer in autonomous technology and connected mobility, Hyundai Motor’s top tech officer said Monday that the company is eager to form

Jan. 9, 2018

Hyundai heir says partnerships with both Nvidia, Intel ongoing

LAS VEGAS -- Hyundai Motor Group Vice Chairman Chung Eui-sun said Sunday that the carmaker is working both with Nvidia, and also with its rival Intel, for the carmaker’s autonomous driving technology.Chung, the only son to Hyundai Motor Chairman Chung Mong-koo, was attending Nvidia’s press conference held in Las Vegas on the sidelines of the Consumer Electronics Show, where the US company announced its partnership with Volkswagen and Uber for self-driving vehicles. Hyundai Vice Chairman Chung Eu

Jan. 8, 2018