‘Spider Man 3’ to feature Hyundai’s mobility tech

Hyundai Motor Group said Thursday it has clinched a partnership deal with Sony Pictures Entertainment to allow customers experience its future mobility and new technologies via the latter’s platforms such as movies, animations and digital contents.  According to the automaker, its latest mobility technology will be featured in Sony Pictures’ movie “Uncharted” and “Spider Man 3,” which will be released in July 2021 and November 2021, respectively. 

May 28, 2020

Creditors call on Korean Air to raise capital following financial aid

Creditors of Korean Air Lines Co. have demanded the cash-strapped airline raise capital of 2 trillion won ($1.62 billion) by end of the next year in return for fresh financial support, officials familiar with the issue said Thursday. The Korea Development Bank (KDB) and the Export-Import Bank of Korea (Exim Bank) recently signed an agreement with South Korea's biggest national flag carrier to extend 1.2 trillion won in new liquidity to help the company hit hard by the coronavirus pandemic. Th

May 28, 2020

BMW unveils new 5, 6 Series lineup at ‘drive-thru’ world premiere in Korea

INCHEON -- BMW Korea unveiled revamped models of the 5 and 6 series sedans on Wednesday, holding the first world premiere event in the country as a foreign carmaker, which was also BMW Group’s first official event since the COVID-19 pandemic. The carmaker displayed three new versions of the 5 Series and the 6 Series Gran Turismo: BMW New 523d, BMW New 530e and BMW New 640i xDrive. The 5 Series will be presented with a lineup of six gasoline and diesel engine types, including 4-cylinde

May 27, 2020

Hyundai Mobis to inject W1tr for future mobility this year

Hyundai Mobis, an auto parts making affiliate of Hyundai Motor Group, said Wednesday that it would invest 1 trillion won ($810 million) this year in some 2,000 research and development projects for future mobility, as part of its effort to secure competitiveness as a sustainable company.  Under the plan, its workforce for research and development will expand to some 5,000, the company said. Marking the 20th anniversary after changing the company name to Hyundai Mobis, the company mapped

May 27, 2020

Kia Motors plans micro EV to replace public transport in Europe

Kia Motors’ European subsidiary said Wednesday it plans to launch a micro-size electric vehicle that can replace public transportation amid increased preference for use of private vehicles following the COVID-19 pandemic. “People want to feel safe today. We saw that very clearly from a survey that was done after the coronavirus outbreak in China. People started shifting from public transport to private vehicles. They safer in their own car compared to public transport,” KIA M

May 27, 2020

[News Focus] International air routes relaunch, but worries linger

South Korean air carriers suffering from the impact of COVID-19 outbreak plan to gradually relaunch their international routes from next month but worries linger over prospects of a business recovery, according to industry sources Tuesday. Low-cost carrier Jin Air said Tuesday that it is resuming five international routes including Incheon-Bangkok, Incheon-Hanoi, Incheon-Taipei, Incheon-Narita and Incheon-Osaka from next month. It comes two months after it suspended the routes over the virus p

May 26, 2020

All S. Korean auto plants resume this week as Mexico plant reopens

Kia Motors Corp., South Korea's second-largest carmaker, said Tuesday that its plant in Mexico will restart production this week, marking the resumption of operations at all of South Korea's overseas auto plants. The resumption scheduled for Tuesday (Mexico time) comes after Kia Motors put in place all requirements meant to stem the spread of the new coronavirus, a Hyundai spokesman said over the phone. All manufacturers in Mexico are required to check the temperatures of workers, give them

May 26, 2020

Korean Air to offer W300b in new shares as collateral for fresh liquidity injection

  Korea's top air carrier Korean Air Lines Co. decided Monday to offer 300 billion won ($242 million) worth of new shares as collateral to receive fresh financial support from creditor banks as it seeks to tide over a liquidity crunch. In April, the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Exim Bank) decided to extend 1.2 trillion won in liquidity to the country's flag carrier hit by the new coronavirus pandemic. Korean Air and its holding company Hanjin KAL Corp.

May 25, 2020

Kumho Tire bags supply deal for Spanish hatchback SEAT Ibiza

South Korean tire manufacturer Kumho Tire said Monday that it bagged a supply deal for Spanish automaker SEAT’s flagship model Ibiza.  The company said Kumho Tire’s Ecowing ES31 185/65R 15 88H is being supplied to SEAT’s bestselling compact hatchback Ibiza since November 2019.  SEAT is the only automaker in Spain, which is owned by the Volkswagen Group. It is known to have Italian design and German technology prowess, according to Kumho Tire. Named after a Spanish

May 25, 2020

Mercedes-Benz launches upgraded SUV GLS

Mercedes-Benz Korea said Monday that it has launched an upgraded third-generation version of its flagship sport utility vehicle the new GLS here.  The seven-seater SUV was first introduced in Korea in October 2016.  “The new GLS will suit the active lifestyle of high-end customers, as it can be dubbed as the S-Class of SUV,” said Mark Raine, vice president of product and marketing at Mercedes-Benz Korea during the unveiling ceremony. S-Class refers to the automaker&rsqu

May 25, 2020

[Behind the Wheel] Re:spec Korando proves SsangYong Motor’s reason to survive

More often than not, when automakers launch their face-lifted models as something “new,” there are little design or functional changes, only a price increase. But that is not the case with SsangYong Motor’ relaunched subcompact flagship sport utility vehicle in April. Its upgraded Re:spec edition came with dramatically changed interiors and is fully equipped with a connected car service, with little price increase. The name Re:spec stands for the automaker’s “res

May 25, 2020

Over 80% of auto plants back in operation on eased virus restrictions

More than 80 percent of vehicle plants in 13 major car-manufacturing countries resumed limited operations as of mid-May as new coronavirus restrictions were eased, an auto industry association said Monday. Vehicle plants in the United States and 12 other major car-manufacturing countries began to restart production, though not in full operation, since mid-April, and more lines are expected to resume operations this month. "It will take some time for the auto plants to return to full op

May 25, 2020

Air carriers move to relaunch international routes, expand domestic flights

South Korean carriers are moving to relaunch their long-waited international routes as well as expand domestic flights, slowly recovering from the impact of COVID-19 outbreak, industry sources said Friday. According to the country’s largest LCC by sales Jeju Air, it will resume operation of Incheon-Manila route once a week from June 6.  The airliner said it was due to the demand from Korean residents living in the Philippines.  Jeju Air currently runs service to three oversea

May 22, 2020

Nearly 550,000 cars recalled from automakers including Hyundai, BMW

The Ministry of Land, Infrastructure and Transport said Friday that it would recall 549,931 units of 126 models from automakers including Hyundai Motor, Kia Motors, BMW Korea, Mercedes-Benz Korea, FCA Korea and Audi Volkswagen Korea over defects.  According to the ministry, 294,622 Hyundai Motor vehicles, including Santa Fes, were found to have foreign substances like oil and moisture inside their braking modules. The defect poses a fire hazard, the ministry said.  Cracks were found

May 22, 2020

Kia vows all-out efforts to strengthen exports amid COVID-19 crisis

Kia Motors said Thursday it is making all-out efforts to break through export woes amid the COVID-19 pandemic by enhancing online sales and services platforms for overseas customers. In this context, Kia Motors President Song Ho-sung visited Pyeongtaek Port, the country’s main gateway for automotive exports, to check the product quality and encourage workers, the automaker said. “The current economic situation is definitely a crisis due to COVID-19, but all divisions at Kia Motors

May 21, 2020

Air Busan to resume flights on int'l routes in July

Air Busan Co., a low-cost affiliate of Asiana Airlines Inc., said Thursday it will resume flights on international routes from July as the new coronavirus outbreak has passed its peak. Air Busan plans to resume services on routes from the southern port city of Busan to Hong Kong and Macao on July 1 and gradually reopen routes to China, Japan and Southeast Asia, the company said in a statement. The budget carrier has suspended all of its international flights since March 8 as countries streng

May 21, 2020

April air passengers fall to lowest level since 1997

The number of South Korean air travelers fell to the lowest level in more than two decades in April due to entry restrictions and lower demand amid the coronavirus pandemic, industry data showed Tuesday. The number of air passengers on domestic and international routes here plunged to 1.35 million last month, down 22 percent from 1.74 million a month earlier and down 87 percent from 10.14 million a year earlier, according to Air Portal, an aviation data provider operated by the Korea Civil Avi

May 19, 2020

SoCar teams up with startup to launch Jeju self-driving car shuttle service

South Korea's leading car-sharing app operator SoCar has teamed up with a local vehicle tech startup to launch an autonomous car shuttle service on the resort island of Jeju, the company said Monday. The collaboration with RideFlux Inc., which officially began earlier in the day, marks the first time that a so-called demand responsive transport service is being offered in the country. "Past operations were carried out under 'test conditions' with restrictions placed on traffic," SoC

May 18, 2020

[Photo News] Frigate departs with masks

FRIGATE DEPARTS WITH MASKS -- The Philippine Navy’s latest 2,600-ton frigate, the Jose Rizal, recently built by Hyundai Heavy Industries, set sail for the Philippines on Monday carrying masks and other quarantine supplies. Hyundai Heavy shipped 20,000 masks, 180 bottles of disinfectant, 2,000 bottles of hand sanitizer and 300 packs of sanitizing wipes to the Philippines out of gratitude for its participation in the Korean War.

May 18, 2020

SsangYong Motors’ business survival doubtful: auditor

SsangYong Motors, one of South Korea’s five major automakers, has been refused by its financial auditor to deliver an opinion on its ability to survive, after posting swelling losses for the 13th consecutive quarter last week. But an official from the carmaker told The Korea Herald that it does not plan to appeal the decision, given that it was based on its latest quarterly report, not an annual report, and does not require appealing to prevent delisting. According to the automaker&rsqu

May 18, 2020