IATA exec says more consolidation in aviation possible

The International Air Transport Association’s regional vice president said on Wednesday that the aviation industry could see more consolidation between airlines from the same country in the wake of Korean Air and Asiana Airlines acquisition deal. “We’ve had a number of airlines who’ve tried to set up regional operations but they’ve tended to be challenged by the ownership and control rules that apply in different countries with respect to air operator certificates,

Nov. 25, 2020

GM Korea, labor union reach tentative agreement on wages

General Motors Korea and its labor union reached a tentative agreement on wages Wednesday, four months after their talks began in July. According to GM Korea, the two sides came up with a draft agreement during negotiations that started Tuesday. In the tentative agreement, GM Korea promised to offer an incentive of 4 million won ($3,600) to its workers as a message of encouragement amid the COVID-19 pandemic. As the labor union asked for the management to maintain operations at the two aut

Nov. 25, 2020

[Behind the Wheel] SsangYong’s Rexton returns younger, stronger

YEONGJONGDO, Incheon -- SsangYong Motor’s new Rexton has returned, with a bolder look and enhanced driving assistance systems. Introducing the new Rexton after launching the previous Rexton G4 model in 2017, the automaker said it sought to create a young and trendy vibe for the upper-mid-sized sports utility vehicle, targeting families that enjoy leisure activities. The company expects the upgrade to raise the popularity of Rexton, which has been preferred by those seeking abundant inte

Nov. 25, 2020

6 companies to recall over 160,000 vehicles

Hyundai Motor Co., Mercedes-Benz Korea and four other companies will voluntarily recall over 160,000 vehicles to fix faulty components, the transport ministry said Wednesday. This is the latest in a series of recalls by carmakers operating in South Korea and vehicle importers due to problems with vehicle components. The four other companies are Kia Motors Corp., Renault Samsung Motors Corp., GM Korea Co. and Daijeon Machinery Co., the Ministry of Land, Infrastructure and Transport said in a st

Nov. 25, 2020

S. Korea to spend W1.44b to foster experts of eco-cars

South Korea said Wednesday it plans to allocate 1.44 billion won ($1.29 million) through 2025 to foster experts of eco-friendly cars in sync with the country's green growth policy, which centers on breaking away from fossil fuels and utilizing more sustainable resources. Under the project, South Korea will spend the budget to educate around 480 experts of eco-friendly cars annually over the next five years, according to the Ministry of Trade, Industry and Energy. "The project is aimed at

Nov. 25, 2020

Porsche Korea opens first Porsche Dream Circle student education project

Porsche Korea said Tuesday it opened the first Porsche Dream Circle, a student education program promoting the value of sustainability in the environment, at an elementary school in Gyeonggi Province. According to the automaker, the new project is part of its corporate social responsibility campaign, Porsche Do Dream, which marks its fourth year in 2020. Porsche Dream Circle, which has opened at the Pangyo Elementary School in Seongnam, is to provide a learning space for students on the imp

Nov. 24, 2020

Seoul Metro to provide consulting services to Sydney Metro

Seoul Metro, the operator of the city's vast subway system, has signed a deal with an Australian engineering firm to provide consulting services to Sydney Metro, the Korean company said Tuesday. Under the deal signed in mid-November, Seoul Metro and Ricardo will jointly assist Sydney Metro in the design, construction, operation and maintenance of two subway line extensions. The West line and the Western Sydney Airport link are scheduled for completion and opening in 2030. The three-year consu

Nov. 24, 2020

Air Busan to resume flights to China's Ningbo

Air Busan Co. said Tuesday it will resume flights to the Chinese city of Ningbo next month to meet travel demand from businessmen. The budget carrier unit of Asiana Airlines Inc. will begin offering one flight per week on Dec. 6 on the Incheon-Ningbo route after suspending the route for 10 months due to the coronavirus impact on the airline industry, the company said in a statement. Instead, the carrier plans to suspend the Incheon-Shenzhen route beginning Nov. 27, it said,  In July, t

Nov. 24, 2020

Samsung Heavy wins record-largest order from Europe

Samsung Heavy Industries has won orders worth $2.5 billion from European shipowners, according to the firm’s regulatory filings Monday. It is the shipbuilder’s largest single order achieved since its establishment in 1974. The shipbuilder said it signed the contract with European shipowners to supply blocks and equipment for ships. The contract period runs until December 2025. The order volume is equivalent to 38.2 percent of last year’s total sales. The value of the order is

Nov. 23, 2020

Mercedes-Benz Korea goes digital for better customer satisfaction

Mercedes-Benz Korea said it is strengthening its digital-based customer experience for preemptive and professional services. The automaker said it is steadily investing in expanding digital-based services that customers can use without having to visit showrooms and service centers in person. One of the digital services is “Sales Touch,” an integrated digital sales platform that carries out all the necessary procedures for vehicle contracts through mobile or tablet devices without

Nov. 23, 2020

Hyundai, Kia rank fourth in global EV market

Hyundai Motor and Kia Motors overtook German brand BMW to rank fourth in the global electric vehicle market this year, data showed Monday. Local research company SNE Research said Hyundai and Kia sold a combined 130,000 EVs in the global market between January and September this year. The figure is up 40.7 percent from the same period last year. The strong performance was driven by a surge in sales of the Kia Niro, Hyundai Kona, Kia XCeed Plug-in Hybrid and Hyundai Porter 2 Electric. The co

Nov. 23, 2020

Hankook Tire to supply tires for GM's new pickup trucks

South Korea’s leading tire manufacturer Hankook Tire & Technology Co. will supply tires for General Motors‘ new pickup trucks, the company said on Monday. The Dynapro MT2, Hankook Tire’s most extreme off-road all-season brand, will be supplied for the 2021 Chevrolet Silverado Heavy Duty and GMC Sierra HD, two models that share a platform. Having won the Red Dot Design Award, the tire boasts additional off-road grip due to angled V-shape shoulder scallops, according to the

Nov. 23, 2020

Hyundai Motor, Ineos partner to explore hydrogen business opportunities

South Korea’s largest automaker Hyundai Motor and London-based chemicals company Ineos have partnered to explore new business opportunities in the global hydrogen economy, the automaker said Monday.  Earlier on Friday, the two companies signed a memorandum of understanding to jointly investigate opportunities for the production and supply of hydrogen as well as the worldwide deployment of hydrogen applications and technologies. The two companies plan to introduce a new hydrogen elec

Nov. 23, 2020

[Behind the Wheel] Renault Samsung’s QM6 returns with refreshed look

A year and a half after presenting its sports utility vehicle QM6 with upgrades including new powertrains, Renault Samsung Motors introduced a new version of the bestselling model this month with a revamped exterior. Renault Samsung’s QM6 has been a cash cow for the automaker, having sold more than 160,000 units in the domestic market since its launch in 2016 and topping the country’s monthly sales of SUVs on several occasions. The first upgraded model came out in June 2019, when

Nov. 22, 2020

SsangYong’s SUV lineup shines amid pandemic

As the pandemic continues, car camping is gaining popularity for many outdoor enthusiasts seeking ways to follow the social-distancing measures. Ssangyong Motor, which specializes in sport utility vehicles, has been riding on the trend, as its vehicles focus on large cargo capacity, convenience and safety. For one, its 2021 compact SUV Tivoli Air is able to transform itself into a driver’s outdoor movie theater. When the second-row seats are folded down, the indoor space reaches 1,879 m

Nov. 22, 2020

Korean Air to push for employees’ leave of absence instead of restructuring

Korean Air President Woo Ki-hong said the firm would push for employees’ leave of absence instead of cutting headcount once the merger with Asiana Airlines takes place. “Korean Air has never undergone artificial restructuring over the past 51 years,” Woo told reporters after the 22nd Tourism Industry Committee meeting in Seoul on Friday. “In order to increase efficiency after the merger, (some) employees will take a leave of absence until the end of the coronavirus cr

Nov. 20, 2020

Korean Air's Asiana acquisition faces bumpy road after injunction

Creditors' plan to sell the debt-laden Asiana Airlines Inc. to its bigger rival Korean Air Lines Co. faces a bumpy road as a local equity fund has filed an injunction against the plan. On Tuesday, Asiana's main creditor, the Korea Development Bank (KDB), signed an investment agreement with Korean Air's parent Hanjin KAL Corp. to inject 800 billion won ($723 million) into Hanjin KAL through a rights offering and convertible bonds. Hanjin KAL will then participate in a 2.5 trillion-won stock sal

Nov. 20, 2020

Hyundai Steel to hold online conference on H-Solution next month

Hyundai Steel said Thursday it will hold online conferences to introduce its automobile brand H-Solution and the technologies on future mobility next month. The South Korean steelmaker said it will hold four online conference sessions from Dec. 2-10 to present the automotive steel brand H-Solution and its technologies and products relevant to future mobility. On the first day of the conference, the steelmaker will discuss prospects for the materials used in producing electric and hydrogen f

Nov. 19, 2020

GM warns it may leave Korea as conflict with union continues

As General Motors Korea continues to struggle with labor strife and dwindling performance, GM’s international chief hinted at the possibility of withdrawing from the country. In an interview with Reuters on Wednesday, Steve Kiefe, the president of GM’s international operations, said GM has other options to produce cars in Asia, including China, where it builds nearly 5 million vehicles a year. GM workers have been staging two four-hour strikes daily since Oct. 30. The major stic

Nov. 19, 2020

Volkswagen Tiguan sells 10,000 units in Korea this year

Volkswagen Korea said its mid-sized sport utility vehicle Tiguan surpassed 10,000 units in cumulative annual sales, a first for an imported SUV, the automaker said Thursday. According to Volkswagen Korea, the accumulated number of registered Tiguan units sold locally this year is 10,043. Tiguan has sold a total of more than 55,000 units since its debut in Korea in July 2008. This is the first time that annual sales have exceeded 10,000 units since the launch. The automaker said the key to T

Nov. 19, 2020