Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Opposition chief acquitted of instigating perjury
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Seoul city opens emergency care centers
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[Exclusive] Hyundai Mobis eyes closer ties with BYD
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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Prosecutors seek 5-year prison term for Samsung chief in merger retrial
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Hyundai Motor considering selling railway biz unit: sources
Hyundai Motor Group, South Korea's largest automotive conglomerate, is mulling the sale of its railway business affiliate, industry sources said Tuesday. The group is considering selling Hyundai Rotem's loss-making railway business, according to the sources. Hyundai Motor, the group's crown jewel, is the largest shareholder in Hyundai Rotem, having held a 33.77 percent stake as of last year, which is estimated to value around 1 trillion won ($897 million) with the management premium. Hy
April 20, 2021
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T’way Air finalizes lease deal to introduce midsize jetliners early next year
Low-cost carrier T’way Air said Tuesday it has signed a deal to lease three midsized aircrafts A330-300 with plans to roll them out early next year. The plan will see the airline introduce a new fleet of aircrafts gradually between February and May in 2022. With the jetliner boasting a wide body, the airline will offer business and economy seats and a wider range of in-flight amenities. The airline said the move following the signing of a letter of intent in December will bolster its bu
April 20, 2021
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[Behind the Wheel] Iconic exterior makes Jeep Wrangler shine
Jeep’s iconic sport utility vehicle Wrangler has undergone changes over the decades, evolving to embrace modern design factors here and there. With the continuing popularity of SUVs among local drivers, the trusty Jeep has maintained its position as a steady seller, with its unique appearance setting the standard for outdoor SUVs. The Wrangler has pulled off a remarkable performance so far this year. It sold 513 units in March, posting a growth rate of 324 percent on-year. That pushe
April 19, 2021
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Porsche Korea expands its CSR program to support artists
Into its fifth year of running the social outreach project Porsche Do Dream, Porsche Korea is expanding the scheme to support artists facing difficulties from the COVID-19 pandemic, the automaker said Monday. The Porsche Do Dream campaign, launched in 2017, has so far focused on children, bent on providing them with learning and playing opportunities. On top of that, this year’s program will include art projects or projects tailored for struggling artists, it said. “Over the pas
April 19, 2021
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Hyundai Motor Group unveils EV variant of G80 for first time at Shanghai motor show
Hyundai Motor Group’s Genesis brand unveiled the first electric powertrain variant of its luxury sedan G80 at the 2021 Shanghai International Automobile Industry Exhibition on Monday. During the motor show, which is to run until April 28, Hyundai Motor and Kia, the other two affiliates of the automotive group, also presented their latest electric vehicles -- Hyundai’s Ioniq 5 and Kia’s EV6 -- putting emphasis on electric powertrains. Taking part in the Chinese automotive e
April 19, 2021
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Hyundai Motor Group, SK Innovation team up on hybrid EV batteries
Hyundai Motor and Kia, Hyundai Motor Group’s two automakers, are joining hands with SK Innovation to develop batteries for hybrid electric vehicles, the group said Friday. The auto group will work with the country’s leading battery producer, SK Innovation, to develop “pouch-style” batteries optimized for electric vehicles. They hope to apply the batteries to Hyundai’s hybrid electric vehicles slated for release in 2024. The partnership will boost the country&rsq
April 16, 2021
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Tesla's sales nearly quadruple in S. Korea last year
US electric vehicle maker Tesla Inc.'s sales in South Korea nearly quadrupled last year from a year earlier on rising popularity of its vehicles, its financial statement showed Thursday. Tesla Korea said in a regulatory filing that it logged 716.2 billion won ($640 million) in sales in the Korean market in 2020, up 295 percent from a year earlier. Its annual operating profit soared 429 percent on-year to 10.7 billion won, and its net income skyrocketed 507.7 percent to 7.9 billion won, the com
April 15, 2021
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Aero K begins regular flights as S. Korea's 8th budget carrier
Aero K Airlines Co. on Thursday began regular flights with an A320ceo aircraft as South Korea's eighth low-cost carrier. Aero K began services on a domestic route between Cheongju, 140 kilometers south of Seoul, and Jeju Island, with a plan to expand flights to Asian countries such as China, Taiwan, Japan and Vietnam, the company said in a statement. The budget carrier has leased three A320ceo passenger jets from US-based aviation investment manager Carlyle Aviation Partners Ltd. "We are
April 15, 2021
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SsangYong Motor again under court receivership, creditors aim to find new investor
SsangYong Motor Co. was placed under court receivership once again Thursday as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and its financial status is further worsening. The Seoul Bankruptcy Court approved the debt-rescheduling process for SsangYong Motor as US vehicle importer HAAH Automotive Holdings Inc. didn't submit a letter of intent (LOI) to acquire the financially troubled carmaker. Mahindra had been in talks wit
April 15, 2021
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GM Korea to halt 2 plants over chip shortage next week
GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will suspend two of its three plants next week due to a lack of semiconductors parts. GM Korea will halt the No. 1 and No. 2 plants in Incheon, 40 kilometers west of Seoul, from April 19-23 as the semiconductor supply continues to remain fluid globally, the company said in a statement. "We will continue to work closely with our supply base to find solutions for our suppliers' semiconductor requirements and to mit
April 15, 2021
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Hyundai Motor rolls out rapid EV chargers at 12 rest stops
Hyundai Motor has installed its E-pit high-speed electric vehicle charging system at 12 rest stops on major expressways, as part of its efforts to expand their EV infrastructure, the company said Wednesday. The 350-kilowatt rapid chargers can charge up to 80 percent of an EV battery equipped with 800-volt system as quick as in 18 minutes. A total of 72 units, the first of its kind, have been installed on the country’s highway network, the automaker said. The stations will accommodate
April 14, 2021
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Hyundai to resume production of IONIQ 5 on Thursday
Hyundai Motor Co. said Wednesday it will resume the plant that produces the IONIQ 5 all-electric model on Thursday following a weeklong suspension due to chip parts shortage. Hyundai Motor halted the No. 1 plant in Ulsan, 414 kilometers southeast of Seoul, which produces the IONIQ 5 and the Kona subcompact SUV, from April 7-14. The suspension at the No. 1 Ulsan plant comes amid a lack of semiconductor parts used in the Kona's front vehicle camera system and a problem in Hyundai Mobis Co.'s pro
April 14, 2021
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Hyundai unveils all-new minivan Staria
Hyundai Motor Co., South Korea's biggest carmaker, on Tuesday unveiled the all-new minivan Staria, two days ahead of its domestic sale. The Staria multipurpose vehicle comes with a 2.2-liter diesel engine or a 3.5-liter liquefied petroleum gas engine, Hyundai said in a statement. The Staria is available either as a passenger vehicle or a cargo vehicle. As a passenger vehicle, it comes in three versions with seven seats, nine seats or 11 seats, while as a cargo carrier, it comes with three se
April 13, 2021
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Korean Air predicted to have turned profit on strong logistics demand
South Korea's flagship carrier Korean Air Lines Co. is expected to have turned a profit in the first quarter of 2021, data showed Sunday, as the company expanded its logistics business after the new coronavirus pandemic virtually suspended passenger travel. The country's top airline operator is expected to post an operating profit of 76.6 billion won ($68.3 million) for the January-March period, compared with a loss of 82.3 billion won posted a year earlier, according to a poll released by Yonh
April 11, 2021
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Hyundai expands plant suspension on chip shortage
Hyundai Motor Co. said Friday it will temporarily suspend another domestic plant next week due to an electronic parts shortage. Hyundai will halt the operation of the Asan plant, 100 kilometers south of Seoul, which produces the Grandeur and Sonata sedans, from Monday to Tuesday, a company spokesman said over the phone. Previously, the country's biggest carmaker said it would suspend the No. 1 plant in Ulsan, 414 km southeast of Seoul, which produces the IONIQ 5 all-electric car and the Kona s
April 9, 2021
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Kia launches K8 sedan, 1st model under new brand logo
Kia Corp., South Korea's second-biggest carmaker, on Thursday launched the K8 sedan, the first model under its new brand logo, in the domestic market. The K8 comes with a 2.5-liter gasoline, 3.5-liter gasoline or 3.5-liter liquefied petroleum injection engine. The model with a 1.6-liter gasoline turbo hybrid engine will be released next month, the company said in a statement. Kia has received 24,000 preorders for the new sedan in the past 12 working days, already achieving 30 percent of its s
April 8, 2021
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SsangYong halts plant operations on chip parts shortage
Financially troubled carmaker SsangYong Motor Co. said Thursday it will suspend the operation of its local plant for a week due to lack of semiconductor chips. SsangYong will halt its plant in Pyeongtaek, 70 kilometers south of Seoul, from April 8-16, with a plan to resume operations on April 19, the company said in a regulatory filing. The SUV-focused carmaker resumed operations on March 2 after halting the Pyeongtaek plant for 16 days in February as its subcontractors refused to supply parts
April 8, 2021
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Hyundai suspends Ioniq 5 production on chip shortage
Hyundai Motor Co. said Wednesday it has suspended a domestic plant that produces the Ioniq 5 all-electric model due to a chip shortage. Hyundai said it will halt the operation of the No. 1 plant in Ulsan, 414 kilometers southeast of Seoul, which also produces the Kona subcompact SUV, due to lack of parts from April 7-14, a company spokesman said. The weeklong suspension comes amid lack of semiconductor parts used in the Kona's front vehicle camera system and a problem in Hyundai Mobis
April 7, 2021
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AeroK to launch its first scheduled flight next week
South Korean low cost carrier AeroK said Tuesday its first scheduled flight between Cheongju and Jeju will take off on April 15. The airline, which is based at Cheongju International Airport, will fly three round trips per day with its A320 aircraft between the largest city of North Chungcheong Province and Jeju Island. “Operation of our first scheduled flight had to be delayed as a result of the obstacle that is COVID-19, but we believe the news about our operation will be a silver lini
April 6, 2021
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Hanjin KAL management feud comes to rest as KCGI-led alliance disbands
The power struggle over Hanjin KAL, the holding company of Hanjin Group, seemed to settle at last as the three-way alliance of an estranged sister of the Korean Air chairman, an activist fund and a builder officially disbanded, industry data showed Friday. In a regulatory filing, Grace Holdings, which is a special purpose firm of the activist fund Korea Corporate Government Improvement, Bando Engineering and Construction and Cho Hyun-ah said they have ended their agreement for joint ownership
April 2, 2021