South Korean carmakers plagued by labor disputes, poor sales

Carmakers in South Korea are likely to face worker strikes again this summer, as fears mount that the strikes will deal a severe blow to their already faltering businesses hit by poor sales, emerging protectionism and diplomatic disputes. 　Unionized workers at Hyundai Motor, the nation’s largest carmaker, said Thursday that an annual wage negotiation they had been engaged in with the management for the last two months had collapsed, and the group will hold a vote next week to make a decision on

July 7, 2017

Eco-friendly cars expand presence in S.Korea‘s used car market

Hyundai Motor's eco-friendly car, the Sonata Hybrid (Hyundai Motor Group)The number of eco-friendly cars in South Korea’s used car market rose 26 percent on-year in the first half of this year due to eased regulations, industry data showed Wednesday.A total of 7,107 eco-friendly vehicles were offered on the official website of used car dealer SK Encar between January and June this year, up 26 percent compared to 5,644 units listed in the same period last year, the company said. Hybrid electric v

July 6, 2017

Lexus Korea introduces new flagship LC Coupe models

Lexus Korea on Tuesday rolled out its new flagship LC Coupe in Seoul, featuring the company’s latest technologies and automobile platform.LC 500h is Lexus’s new hybrid model that has adopted its latest Multi Stage Hybrid System, which offers the vehicle 359 horsepower and a 10-speed transmission. The system allows the hybrid vehicle to reach 100 kilometers per hour in under five seconds as well, the company said. Lexus Korea CEO Akihisa Yoshida speaks at an event unveiling LC Coup at the Toyota

July 4, 2017

GM Korea CEO announces resignation

GM Korea CEO James Kim will be stepping down as of Aug. 31 and will serve as the full-time president of the American Chamber of Commerce in Seoul, the company said Monday.The Korean-American CEO is resigning due to personal reasons, the company said. His successor will be named at a later date, it added.James Kim, CEO and president of GM Korea, speaks at a forum held in Seoul on June 15th. (Yonhap)“We thank Jim for his contributions to GM Korea over the past two years,” said Stefan Jacoby, GM ex

July 3, 2017

Secret behind All New Malibu’s popularity

GM Korea, the local unit of US carmaker General Motors, said Friday it is enjoying continued popularity of its mid-size sedan Malibu mainly due to its high performance. “The Malibu has set a new trend in the Korean mid-size car market with its turbocharged engine, size comparable to an upper midsize sedan, segment-leading performance, and remarkable safety,” GM Korea said.“As the popularity of gasoline models continue to rise, Malibu’s turbocharged gasoline engines will gain more popularity,” GM

June 30, 2017

Renault Samsung aims to export 40,000 QM6 SUVs this year

Renault Samsung Motors Corp., the South Korean unit of French automaker Renault S.A., said Friday it aims to export 40,000 units of its QM6 SUV this year. Renault Samsung began to sell the flagship QM6 SUV in the markets, such as Latin America, Australia and the Middle East, in June last year. In September, the QM6 SUV was launched domestically, a company spokesman said. A QM6 SUV is getting ready to be shipped for sale in Europe at a port in Changwon, 398 kilometers southeast of Seoul on June 3

June 30, 2017

Hyundai Motor USA to donate $15 million for pediatric cancer cure

Hyundai Motor’s US office said Wednesday that it would provide a $15 million fund this year for 68 research projects that aim to find a cure for pediatric cancer.At a presentation held in Washington, the carmaker donated $1 million to five medical institutions and six project managers leading pediatric cancer research in the capital city, Virginia and Maryland. The event was attended by lawmakers from South Korea and the US, as well as Hyundai Motor President Chung Jin-haeng. It was also held to

June 28, 2017

SsangYong Motor to unveil new pickup truck

PYEONGTAEK, Gyeonggi Province -- SsangYong Motor, the South Korean unit of India’s Mahindra & Mahindra Ltd., will release a new fourth-generation pickup truck codenamed Q200 at the beginning of next year, an official said Wednesday. 　“The Q200 is not a follow-up model to the Korando Sports pickup truck. It is a separate model that is similar in size with the G4 Rexton,” Song Seung-ki, head of Production HQ, SsangYong Motor, told reporters after a tour of the company’s production plant in Pyeongt

June 28, 2017

More jobs to come with Hyundai Motor’s US expansion

Despite the slowing sales and heated competition in the US auto market, Hyundai Motor plans to increase its investment there in the next five years, with its expanding operations forecast to impact the local economy.Chung Jin-haeng, CEO of the South Korean carmaker, said in January that the company would invest $3.1 billion in the US by 2021, 30 percent more than the $2.1 billion it has poured into America since 2012 when the bilateral free trade agreement between the two countries went into eff

June 27, 2017

Posco retains most competitive steelmaker title for 8th year

Posco was named this week as the world’s most competitive steelmaker for the eighth consecutive year, the company said Tuesday, with the leading South Korean steel producer poised to take over the global steel industry with its self-developed premium product giga steel.   An image of Posco’s television ad for the world premium giga steel. The ad reads “giga steel is three times stronger than aluminum.” (Posco)Global steel research firm World Steel Dynamics announced Monday that Posco ranked as t

June 27, 2017

Kepco to begin operating EV charging stations

South Korea‘s state-run utility provider Korea Electric Power Corporation said Tuesday that it will begin operating its 1,560 electric vehicle charging stations in the nation starting on July 3.Of the total 1,560 EV charging stations, 569 are public charging stations that are available at Kepco’s operations center and public parking spaces, while the rest 989 are stations that are installed at apartment complexes, the company said.  (Yonhap)Kepco, which is currently the nation‘s largest provider

June 27, 2017

SNU’s self-driving car completes first test drive in city

SNUver 3 conducts a test drive last week in Yeouido, western Seoul. YonhapSelf-driving car developed by Seoul National University’s Intelligent Vehicle IT Research Center named SNUver 3 has become South Korea’s first autonomous vehicle to succeed in level four self-driving in the city, the research team said Sunday.SNUver 3 demonstrated a four kilometer test drive around the populous business district Yeouido, western Seoul, for 12 minutes at a maximum speed of 50 kilometers per hour last week.T

June 25, 2017

[Behind the Wheel] Kia Motors‘ premium sports sedan Stinger lives up to its title

Kia Motors, South Korea’s second-largest automotive company, rolled out its first premium sports sedan Stinger last month in an attempt to foster sluggish sales by capturing male drivers in their 30s.The front view of Kia Motors‘ premium sports sedan, the Stinger taken during a media test drive earlier this month. (Hyundai Motor Group)Members of the media were given an opportunity to test drive the top trim of the Stinger -- the 3.3-liter twin-turbo -- for a 168 kilometer-long drive from Grand W

June 25, 2017

Korea's 5 major carmakers engage in wage talks: sources

Labor unions of South Korea's five leading carmakers are in the process of negotiation with their managements to narrow differences over pay raises and other issues, industry sources said Sunday.Workers and management of the five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. --, however, have not yet to iron out their differences, they said.Representatives of the two sides of the country's leading carmaker, Hyundai, have hel

June 25, 2017

SUVs make up more than 40% of all new cars sold in Korea

Sport utility vehicles accounted for four out of 10 new cars sold in South Korea in May, official data showed Sunday.According to the Korea Automobile Manufacturers Association crossovers accounted for 40.28 percent or 53,206 of the 132,038 vehicles registered in the country during the one-month period. The numbers reflects both SUVs and other recreational vehicles.The rise in SUVs is noteworthy since in 2011, they made up 19 percent of all new cars hitting the streets. This number shot up to 35

June 25, 2017

Total value of import cars drop 11% in 2017: KITA

Total value of imported vehicles dropped 10.9 percent in the first five months of this year mainly due to weak demand for diesel cars, local trade data showed Sunday.According to the Korea International Trade Association, Asia's fourth-largest economy imported $3.89 billion worth of foreign passenger and commercial vehicles by the end of May. Sales of luxury German carmakers Mercedes-Benz, BMW and certain commercial vehicles increased compared to last year, but the drop in numbers for diesel car

June 25, 2017

Kia Motors tops US quality test for 2nd year

Kia Motors Corp., South Korea's second-largest carmaker, has ranked highest among global brands in a US quality test for the second consecutive year, a US market tracker has said."Kia ranks highest in overall initial quality for a second consecutive year with a score of 72 PP100," J.D. Power and Associates, a US-based marketing information service company, said in its 2017 US Initial Quality Study released Wednesday.The study measures the number of problems experienced per 100 vehicles during th

June 22, 2017