Most Popular
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NewJeans terminates contract with Ador, embarks on new journey
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Ador claims exclusive contracts with NewJeans still valid
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Heavy, wet snow to fall more often this winter
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SNU professors join growing movement calling for Yoon's resignation
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Presidential office criticizes opposition-led state auditor, prosecutor impeachment motions
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N. Korea launches 32nd wave of trash balloons, anti-S. Korea leaflets
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‘NewJeans are no longer under Ador,’ says legal expert
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NewJeans leave for Japan shows day after unilaterally terminating contract with Ador
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[From the Scene] At this Starbucks, you need ID: Franchise opens store with view of North Korea
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Will Min Hee-jin reunite with NewJeans?
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Volkswagen Korea attends public hearing
[THE INVESTOR] The Ministry of Environment held a public hearing on July 25, attended by Audi Volkswagen Korea.The hearing -- which was held at the National Institute of Environmental Research -- is to offer Volkswagen’s Korean unit a chance to explain itself regarding the ministry’s recent decision to ban the sales of 79 models of Audi and Volkswagen cars that cheated on emission tests, and also cancel their registration here.The decision, however, has yet to go into effect and will be finalize
July 25, 2016
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Kia Motors takes legal action against union leaders
[THE INVESTOR] Kia Motors has filed criminal complaints against the leaders of its labor union over the alleged illegal strikes. According to the carmaker, a complaint has been filed against union leader Kim Sung-rak and five other union officials for taking Kia’s union into the nationwide strike organized by the Korean Metal Workers’ Union. The metal workers’ union is a subgroup within the hardline Korean Confederation of Trade Unions. The company claims that its union did not follow legal proc
July 25, 2016
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BMW 5 Series Pro touts advanced safety features
Reflecting the growing need for safer vehicles, the Seoul office of German carmaker BMW has released a special edition of its best-selling model 5 Series that features advanced safety functions designed to prevent possible accidents.The BMW 5 Series Pro Edition which hit the local market in April has adopted the carmaker’s premium option named Driving Assistant Plus that includes the camera-based Lane Departure Warning and Approach and Pedestrian Warning systems with City Brake Activation, BMW K
July 24, 2016
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Hyundai Motor to open Genesis brand stores nationwide
[THE INVESTOR] Hyundai Motor plans to open some 10 Genesis brand stores nationwide in its latest upscale push as a luxury car maker. The first store is expected to open at Shinsegae Group’s new shopping center Starfield Hanam in Gyeonggi Province in September. The venue is also rumored to have hosted the nation’s first store of the iconic electric car maker Tesla. Other stores are also said to be located in posh districts in Seoul and major cities around the country. Genesis sports sedan G80Hyun
July 22, 2016
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Korea reports first auto trade deficit with China
For the first time, Korea is running a trade deficit of automobiles with China due to Korean firms‘ increased production in China and the entry of Chinese low-cost players in Korea, a report said Friday. As of the end of May, Korea’s trade deficit with China in the auto sector stood at $2 million, the first auto trade deficit with the neighboring country, the state-run Korea Institute for Industrial Economics & Trade said. Cars destined for export overseas stand parked at a port in Korea. (Yonha
July 22, 2016
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POSCO ICT to supply home charging stations for GM Bolt
[THE INVESTOR] POCSO ICT will supply home charging stations for General Motors’ first full-electric compact Chevrolet Bolt that debuts in September, the IT solutions unit of POSCO said July 22. The Korean firm recently signed a deal with GM Korea, the Korean unit of the US auto giant, it said. POSCO ICT’s EV charging stationUnder the deal, the company also plans to build the charging stations at GM Korea’s some 120 after-sales centers, sales stores and other key locations such as large supermar
July 22, 2016
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Volkswagen halts sales of nearly 80 models in Korea
[THE INVESTOR] Audi Volkswagen Korea has decided to stop selling certain vehicles that cheated on emission tests in South Korea, local news reported Thursday. The Korean unit informed local dealers of its decision to suspend from Monday the sales of 79 models of cars, including top-selling ones such as the Volkswagen Golf, Jetta and the Audi A4. Volkswagen GolfThe Ministry of Environment had earlier issued an order to ban sales and cancel the registration of VW’s diesel and gasoline engine vehi
July 22, 2016
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Volkswagen Korea to halt sales of cars in emissions scandal
German carmaker Volkswagen has decided to voluntarily suspend sales of its vehicle models implicated in an emissions scandal in South Korea, market sources said Friday.In a recent letter to local dealers, Audi Volkswagen Korea, the South Korean unit of the German carmaker, said it will stop delivering 79 models of 34 vehicle types starting next week.The country's environment ministry earlier said it might revoke its certification of the 79 vehicle models, based on the outcome of a prosecution in
July 22, 2016
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Seoul raises subsidies for EV owners
[THE INVESTOR] The Seoul City government announced on July 21 that it will raise the subsidies for electrical vehicle owners by 2 million won (US$ 1,758) to boost sales. A resident who purchases a new electric vehicle will now receive 18.5 million won in assistance, up from 16.5 million won, the Seoul Metropolitan Government said. Hyundai Motor EV Ioniq / Hyundai MotorCorporate buyers will get 14 million won, up from 12 million won, while rental and leasing firms will earn 18.5 million won, a hi
July 21, 2016
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Auto market to contract for first time in 3 years
Overall auto sales in South Korea this year is projected to decline for the first time in three years, a report said Thursday.According to a research center under Hyundai Motor, the country‘s largest carmaker, the local car market grew 9 percent in the first half year-on-year thanks to a consumption tax cut and a series of market debuts of vehicles by local carmakers.However, the market would see a significant decline in the latter half of the year with customers feeling less likely to buy cars
July 21, 2016
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Vehicle seat belt alarms to be mandatory
[THE INVESTOR] Seat belt alarms are to become mandatory for all seats in passenger vehicles, the Ministry of Land, Infrastructure and Transport said on July 21. The ministry said that following the global standard change it will make regulatory changes to make seat belt alarms for all seats mandatory in vehicles produced in South Korea. According to the ministry, the United Nations Economic Commission for Europe is set to make the changes to international standards in November.Although the stand
July 21, 2016
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Hyundai, Samsung, Ssangyong rolling out summer edition cars
[THE INVESTOR] Automakers are rolling out special edition cars for the summer, according to the industry on July 21.Hyundai Motor, South Korea’s largest automaker, recently released a special edition of its midsize sedan Sonata, which will go on sale until October. The special edition is installed with ventilated seats and a dual air conditioning system for driver and passengers to enjoy the cool ride under the scorching sun. The new Sonata features automatic defogging system to detect fog and m
July 21, 2016
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Hyundai Motor resumes wage talks, strikes to go on as planned
[THE INVESTOR] Hyundai Motor and the labor union will resume negotiations from 2 p.m. on July 21. This year’s wages negotiations fell apart earlier this month, with the union accusing management of failing to put forth viable alternatives to its demands. The union, however, will continue with the strikes as planned. While the talks resume, about 13,000 Hyundai Motor workers are expected to stage a four-hour walkout from 8:20 p.m., and hold a rally at the company’s plant in Ulsan. So far, Hyundai
July 21, 2016
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Hyundai Mobis to recall 120,000 filters containing toxic substance
[THE INVESTOR] Hyundai Mobis, South Korea’s largest automotive parts supplier, has decided to recall 120,000 car air-conditioning filters after octylisothiazolinone, a toxic chemical substance, was detected, the company said on July 21.“We decided to pull every product from the shelf to put our customers at ease,” the company said. On July 20, the Ministry of Environment released a list of filters containing OIT levels that may be harmful. These filters, which were mostly manufactured by 3M, wer
July 21, 2016
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S. Korean auto market to shrink this year: think tank
[THE INVESTOR] South Korea’s automobile market will shrink for the first time since 2013, the Korea Automotive Research Institute forecast in a report on July 21.The Hyundai Motor Group’s think tank estimated an 8.7 percent drop in domestic sales during the second half of the year, offsetting the large increase seen in the first six months of the year. Hyundai, Kia cars wait to be shipped at a port in Ulsan.According to the institute’s estimates, the year-on-year drop expected in the second half
July 21, 2016
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Kumho Tire relaunches premier league marketing campaign
Kumho Tire has signed a two-year partnership with Tottenham Hotspur starting from the 2016-17 season, it announced Wednesday. At a ceremony held at Hotspur Way in London on July 19 local time, Kumho Tire CEO Lee Han-seob shook hands with club manager Mauricio Pochettino, celebrating the launch of the partnership with the English soccer club. Players including Son Heung-min and Christian Eriksen attended the event. (Tottenham Hotspur)“We are thrilled to be working with such a prestigious and glo
July 20, 2016
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Filters in Hyundai Mobis, Cuckoo products found to release high levels of OIT
[THE INVESTOR] Vehicle air-conditioning system filters sold by Hyundai Mobis and those used in Cuckoo’s air filtration units have been found to release potentially toxic levels of octylisothiazolinone (OIT), the Ministry of Environment said on July 20.According to the ministry, two types of filters used in the Cuckoo products and Hyundai Mobis products released OIT at levels that could be harmful to the human body. The filter sold by Hyundai Mobis is produced by 3M, which has announced recall pl
July 20, 2016
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Hyundai Mobis opens logistics hub in Belgium
[THE INVESTOR] Hyundai Mobis has built a central logistics center in Belgium to serve as the logistics hub in Europe, it announced on July 20. Spread over 56,000m² in Beringen in northern Belgium, the center will receive parts daily and distribute them to regional centers in UK, Germany, Spain, Italy, Sweden and Hungary. The inside of Hyudai Mobis's Belgium central logistics center / Hyundai MobisSouth Korea’s largest auto parts supplier has been delivering motor parts for after service three ti
July 20, 2016
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Hyundai Mobis eyes non-Korean carmakers for growth
[THE INVESTOR] Hyundai Mobis, South Korea’s largest automotive parts supplier, aims to target American and Japanese automakers to widen its business beyond local affiliates Hyundai Motor and Kia Motors. Hyundai Mobis, which is highly dependent on local automakers, plans to increase sales of its auto parts to non-Korean manufacturers by 1.5 times by 2025, local news reported on July 25. According to reports, Hyundai Mobis’ overseas sales account for only about 10 percent of total sales, while the
July 20, 2016
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Imported car registrations cross 1.5 million in Korea
[THE INVESTOR] The number of registered imported automobiles broke the 1.5 million mark in June, industry data showed on July 20. The country’s automobile market was opened to foreign brands in 1987. According to automotive industry organizations, the number of imported vehicles registered in South Korea came to just over 1.52 million units in June, up 1.7 percent from the previous month. In comparison, the number of all vehicles registered in Korea came to about 21.37 million units at the end o
July 20, 2016