Hyundai Motor chief quits executive role at steel affiliate

Hyundai Motor Group Executive Vice Chairman Chung Euisun has resigned as an inside executive director of the group’s steel affiliate, Hyundai Steel, the company said Wednesday.  Chung aims to focus on the group’s core automotive business as the group seeks to transform itself into a smart mobility solutions provider, according to the company.  Chung served in his executive role at Hyundai Steel since 2012 but rarely made an appearance at its executive directors’ me

Feb. 26, 2020

United Airlines extends window for changing S. Korea-bound flights without fee

WASHINGTON -- United Airlines on Tuesday extended its window for travelers wishing to change their South Korea-bound flights without paying a fee, as the number of coronavirus cases in the country continued to climb. The US airline said on its website that passengers originally booked on flights departing from Feb. 24 to June 30 can switch to another flight within the same window, and between the same cities, without paying the change fee or any difference in fare. On Monday the airline had s

Feb. 26, 2020

Airlines extend flght suspensions, halt more amid virus fears

South Korean airlines said Tuesday they will extend flight suspensions to China and halt more flights on international routes due to the growing impact of the fast-spreading coronavirus outbreak. With no end in sight for the COVID-19 outbreak in the country, Korean Air Lines Co., South Korea's biggest airline by sales, on Tuesday extended flight suspensions to China by one month through April 25. Korean Air served 204 flights per week on 30 routes to China before the new coronavirus hit the

Feb. 25, 2020

Threee Kumho Tire products win Good Design Award

Kumho Tire said Tuesday three of its products had won 2019 Good Design Awards in the transportation design category.  The Good Design Awards is a global design competition which began in 1950, awarded by the Chicago Athenaeum Museum of Architecture and Design for the most innovative and cutting-edge industrial products and graphic designs of the year.  The Korean tire manufacturer said its tires Majesty 9, Ecsta PA51 and WinterCraft Wi51 have won the awards.  Majesty 9 is a ne

Feb. 25, 2020

Delta hikes stake in Hanjin KAL in support of chairman

Delta Air Lines, the third-largest shareholder of Hanjin KAL which owns Korean Air, has bought 1 percent additional stake to support Hanjin Group Chairman Cho Won-tae, industry sources said Monday.  The US air carrier reportedly bought 114 shares of Hanjin KAL stake on Thursday and Friday via Goldman Sachs for around 60 billion won ($49 million). Delta now owns 11 percent stake in the holding firm of Hanjin Group.  Currently, local activist fund Korea Corporate Governance Improvemen

Feb. 24, 2020

Carmakers on alert as shows put on hold amid COVID-19 spread

With global motor shows either being delayed or likely to be called off due to coronavirus concerns, automakers are likely to face setbacks in their plans to unveil their latest models, according to industry sources Sunday. Organizers of Asia’s largest auto event, Beijing Motor Show slated for April 21-30, have announced that it has been “indefinitely delayed.”  The event has been “postponed until further notice,” and a decision will be taken after closely w

Feb. 23, 2020

[Photo News] Hyundai's hydrogen campaign featuring BTS in NY

Hyundai Motor’s global hydrogen advertisement featuring BTS is aired via Marriott Marquis Hotel’s digital signage display at Times Square in New York on Friday.  In the advertisement, which played for an hour, BTS members explained the company’s vision and efforts to achieve a future hydrogen society through its hydrogen fuel cell car Nexo. (ddd@heraldcorp.com)

Feb. 23, 2020

Airlines to suspend more flights over coronavirus

South Korean airlines said Friday they will reduce more routes and ask employees to take unpaid leave as the spread of the novel coronavirus is impacting travel. With no clear end in sight for the COVID-19 outbreak, local airlines began to suspend or reduce their flights early this month to adjust to weak demand on domestic and international routes. Korean Air Lines Co., the country's biggest airline, said it plans to gradually begin halting services on seven additional routes to Asian citi

Feb. 21, 2020

Hyundai develops world's first automated gearshift that reads traffic ahead

Hyundai Motor Group said Thursday that it has developed a self-controlling gearshift that measures traffic ahead and predicts optimized gearing, which it said is the first of its kind in the world. While existing smart drive modes work by learning the pattern of the drivers, the new information and communication technology-connected transmission system recognizes road situations and automatically changes gears for speed, the automaker said. The new technology will be adopted in upcoming models

Feb. 20, 2020

Hanjin Group joins hands with startup accelerator Plug and Play

Hanjin KAL, the holding firm of Hanjin Group which owns the country’s largest air carrier Korean Air, said Thursday that it has partnered with US startup accelerator Plug and Play for business diversification. Headquartered in Silicon Valley, Plug and Play has previously clinched development partnerships with global information and communications technology firms including Google, PayPal, Dropbox and Logitech. It has also worked with Coca-Cola, Mercedes-Benz, Singapore Airlines and Americ

Feb. 20, 2020

Hyundai Motor chairman steps down as board chair

Hyundai Motor Group Chairman Chung Mong-koo will step down as the chair of the board, as he was not reappointed as an internal director at the firm’s board meeting, the automaker said Wednesday. Chung, who had been the board chair since 1999, will retain the positions of Hyundai Motor’s unregistered executive and Hyundai Mobis’ registered director. He has been stepping away from day-to-day management and has not attended board meetings since 2018. Upon the departure of Chu

Feb. 19, 2020

Seoul court rules van-hailing service Tada not illegal

The Seoul Central District Court on Wednesday found Socar CEO Lee Jae-woong and VCNC CEO Park Jae-wook not guilty of violating transportation laws with their ride service that is strongly opposed by the taxi industry. Socar is the parent of VCNC, which runs Tada, an 11-seat van-hailing mobile app service. The court said in a ruling that Tada is seen as an “innovative mobility business” that cannot be categorized based on the existing transportation business frame.  &ldqu

Feb. 19, 2020

All of Asiana Airlines executives offer to resign amid low profit on coronavirus spread

Korean full-service carrier Asiana Airlines said Tuesday that all executives, including the CEO, have offered to resign to improve the company’s financial health, which has been severely hurt by the latest outbreak of the coronavirus that has cut into aviation services.  In a letter sent to Asiana employees, the air carrier’s CEO Han Chang-soo said that the company has activated an emergency business management due to the crisis following the epidemic outbreak.  Han said

Feb. 18, 2020

[Monitor] South Korea remains world’s 7th largest automobile producer

Although the number of automobiles manufactured in South Korea dropped below 4 million units last year, its global market share in car production increased slightly, data by the Korea Automobile Manufacturers Association showed. The number of cars produced dropped 1.9 percent from 2018, but the market share in car production increased by 0.1 percentage point. The association pointed out that Korea failed to see a more significant improvement due to prolonged conflicts and strikes at major aut

Feb. 18, 2020

Anti-chairman coalition falters at Hanjin with withdrawal from director candidate

Kim Chi-hoon, a former Korean Air executive director who was proposed as one of the inside directors for Hanjin Group, said Tuesday he was voluntarily resigning from the candidacy. His withdrawal deals a blow to a coalition formed by Hanjin Group heiress Cho Hyun-ah to counter her brother, Chairman Cho Won-tae, as Kim had been recommended by them. Kim reportedly said that he was “against what the coalition intends to do,” according to Hanjin KAL, the holding company of Hanjin Group

Feb. 18, 2020

Hyundai Motor again halts assembly line in S. Korea over parts shortages

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Tuesday suspended one of its five main assembly plants in Ulsan due to a lack of parts from China amid the spreading coronavirus outbreak. Hyundai said the No. 1 assembly plant in Ulsan, 414 kilometers southeast of Seoul, is set to be closed until Thursday, a move that will disrupt production of the Veloster subcompact and the Kona subcompact SUV. The latest halt came five days after Hyundai Motor resumed operations at the assembl

Feb. 18, 2020

SsangYong’s Rexton Sports logs 40,000 units of annual sales for 2 years

SsangYong Motor’s flagship sports utility vehicle Rexton Sports has sold more than 40,000 units annually for the second year in a row, the carmaker announced Monday.  This is the first time Ssangyong has sold over 40,000 units of an SUV brand two years in a row, the company said.  SsangYong Motor said 41,717 Rexton Sports vehicles were sold in 2018, accounting for 99.2 percent of the total number of pickup trucks sold in Korea that year. In 2019, a total of 41,328 Rexton Sport

Feb. 17, 2020

Airlines to cut fuel surcharges on int'l routes in March

South Korean airlines will lower their fuel surcharges on international routes in March to reflect lower jet fuel prices, industry sources said Monday. The surcharges for one-way tickets on long-haul international routes will drop by two notches to 19,200 won next month from 49,200 won in February, according to the sources. If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, South Korean airlines are allowed to impose fuel surcharges starting one month lat

Feb. 17, 2020

Korean carmakers on track to normalize production this week

South Korean carmakers said Monday they are on track for normalizing production later this week after suffering parts shortages from China amid the spreading coronavirus outbreak. The country's five carmakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp., and SsangYong Motor Co. -- are still struggling to get parts on time, although suppliers in China partially resumed operations last week with the COVID-19 virus outbreak showing no sign of slowing. They

Feb. 17, 2020

Kia unveils design of new Sorento, launch scheduled in March

Kia Motors Corp. on Monday unveiled the design of the all-new Sorento SUV ahead of its domestic launch next month as it strives to boost SUV sales further. The fourth-generation SUV adopts a new design concept, Borderless Gesture, which is defined by a combination of the "strong design heritage" of its predecessors and the "refined and delicate feel" of a sedan, the company said in a statement. The new Sorento's powertrain and other details will be released later, it said

Feb. 17, 2020