Renault Samsung targets niche markets of LPG, commercial vehicles

Renault Samsung, the South Korean subsidiary of French carmaker Renault, has been targeting the niche markets of liquefied petroleum gas and commercial vehicles in recent months, to promote sales in the face of intensifying competition and a sluggish economy. QM6, a mid-sized sports utility vehicle powered by LPG, has boosted sales in the carmaker’s SUV segment by attracting customers looking for alternatives to diesel-powered SUVs here. Sales of SUVs with diesel engines have lost steam am

Nov. 19, 2019

Kia Telluride named SUV of the year in US

Kia Motors said Tuesday its new sport utility vehicle targeted for North American market was named SUV of the year by an auto publication MotorTrend. The magazine also chose Peter Schreyer, president and head of design management of Hyundai Motor Group as the “person of the year.” Kia is a sister company of Hyundai Motor, South Korea’s largest carmaker.  Describing Telluride as a new flagship SUV that has raised Kia’s profile, the magazine said seven of its 11 judges

Nov. 19, 2019

Hyundai Motor tops CSR list in China for 4th consecutive year

South Korean automaker Hyundai Motor ranked No. 1 on a list measuring carmakers’ corporate social responsibility activities in terms of the impact they had on the Chinese community, the company said Monday. According to an index published by the CSR Research Center of the Chinese Academy of Social Sciences, Hyundai topped the list for the fourth consecutive year. It also climbed up one notch to fourth place in a separate ranking that listed companies across industries. The research institu

Nov. 18, 2019

[Behind the Wheel] First all-electric vehicle under EQ brand arrives in Korea

The first all-electric car launched by Mercedes-Benz Korea recently landed here, jumping into the eco-friendly car market which is still small but promising and currently dominated by Hyundai Motor and Kia Motors.Its main design concept “progressive luxury” instantly suggests where the German carmaker is headed, and is enough to excite its fans here with futuristic elements. But the question is: Can the EQC compete with other electric vehicles that have a driving range of h

Nov. 17, 2019

Hanwha president named PR person of the year

Choi Sun-mok, president and the head of the communications committee at Hanwha Group, was on Thursday named the public relations person of the year by an association of publicists in Korea. Choi was given the award for his work of implementing a series of events including a Hanwha symphony festival and the annual firework festival, the organization said, adding that such events have helped Hanwha raise its profile and expand communication channels with the public.The president also led the compa

Nov. 14, 2019

Hyundai to invest $410m to start production of Santa Cruz in US

Hyundai Motor said Thursday it will invest $410 million to start production of the Santa Cruz compact sport utility vehicle in the US in 2021. Facilities will be expanded at its plant in Montgomery, Alabama, along with the deployment of related equipment, with the aim of starting sales in the US and Canada in the same year, it added. The investment will create 200 new jobs at the plant and an additional 1,000 at local suppliers and logistics companies supporting Hyundai in Montgomery and the Riv

Nov. 14, 2019

Food, housing, clothing fall in Korean consumers’ priorities

Koreans’ spending priorities are moving beyond the bare essentials, a survey showed Wednesday, with food, clothes and shelter all losing ground in the number of consumers who list them as their main concern.The basics had dominated South Korean consumers’ priorities, with the vast majority of consumers here listing their top concern as one of food, clothes or housing. Food still topped the most recent survey by the Korea Consumer Agency, with 21 percent of 8,000 respondents list

Nov. 13, 2019

[News Focus] HDC spreads its tentacles with bid for Asiana

Asiana’s would-be new owner, Hyundai Development Company is a real estate developer which has been seeking business expansion and diversification in recent years from leisure to retail.Founded as a builder for residential projects in 1976, HDC is part of the pan-Hyundai empire, sharing the family roots that thrived due to former Hyundai Group founder late Chung Ju-yung. The current Chairman Chung Mong-gyu is the son of late Honorary Chairman Chung Se-yung, younger brother to the group

Nov. 12, 2019

Kepco signs 25-year power supply deal in Guam

State-run power supplier Korea Electric Power Corp said Monday that it has signed a deal to sell electricity to the Guam Power Authority Pacific for 25 years.Kepco will start providing electricity in October 2022 after building a power plant. Korean builder Hyundai Engineering is set to construct a 200-megawatt combined cycle power plant in the US island territory in August 2020. The commercial operation of the plant will start two years later. A special purpose company in which Kepco holds a 60

Nov. 11, 2019

Hyundai adds inverted sound waves to GV80 for noise control

The first sport utility vehicle under the Genesis marque will use inverted sound waves for noise control, the first of its kind in the world, Hyundai Motor said Monday.The South Korean carmaker said in a statement that it has applied for a patent for Road-noise Active Noise Control, or RANC, both in the domestic market and the US. With RANC, the internal noise of a vehicle drops 3 decibels, half of what a passenger hears from a regular vehicle, it said. The technology, developed over six ye

Nov. 11, 2019

Hyundai Motor heir says mobility innovation is for progress of humanity

The heir to Korea’s largest carmaker, Hyundai Motor, said on Thursday that the company’s future is in driving technology innovation for humanity, stressing its rationale behind works for future mobility. “Cities and mobility services were developed for humans from the very beginning,” said Chung Euisun, executive vice chairman of Hyundai Motor Group at the Mobility Innovators Forum 2019, held in San Francisco.“That’s why we are making a wide range of efforts t

Nov. 8, 2019

Han Sung Motor hires ex-MFG CEO as vice president

Han Sung Motor, the largest Mercedes-Benz dealer in South Korea, has appointed Han Jong-moon, a former CEO of MFG Korea, as vice president of sales and marketing, the company said Wednesday.Han served as chief operating officer of Han Sung Motor prior to his CEO post at MFG, an operator of local restaurant chains. He has taken charge of the dealer’s sales and marketing since September.  With the appointment, Han Sung Motor expects to strengthen its business, citing Han’s previou

Nov. 6, 2019

Han Sung Motor supports public art project in Seoul

Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, will support a public art project run by the Seoul Foundation for Arts and Culture to create art installation works on streets of the capital city next month, the company said Thursday.Dream Gream scholarship recipients, Han Sung Motor employees and citizens will participate in the project titled “Sowon Bandi,” to create a collection of 5,000 solar-power light lamps, each of which holds a person’s wish

Nov. 4, 2019

6 companies to recall over 120,000 vehicles

Hyundai Motor Co., Honda Motor Korea Co. and four other companies will recall more than 120,000 vehicles due to faulty components, the transport ministry said Sunday. This is the latest in a series of recall plans for local and overseas carmakers, and importers of foreign vehicles.  Hyundai Motor, Ford Motor Co., Porsche, BMW, Honda and Ducati are recalling 22 models amounting to 122,350 units, the Ministry of Land, Infrastructure and Transport said in a statement. The problems include a fa

Nov. 3, 2019

GS Group to establish VC firm in Silicon Valley

GS Group said Thursday it will establish a venture capital firm in Silicon Valley in the first half of next year, as part of its plan to seek new growth engines.The decision was made during a two-day meeting of top executives held in Taipei, Taiwan, chaired by GS Group Chairman Huh Chang-soo. The list of executives who attended the meeting includes, GS Engineering and Construction Vice Chairman Huh Myung-soo, GS Home Shopping Vice Chairman Huh Tae-soo and GS Vice Chairman Jeong Taek-geun. 

Oct. 31, 2019

Renault Samsung partners LG Chem for ESS development

Renault Samsung Motors, a South Korean subsidiary of French carmaker Renault, has forged a partnership with LG Chem to develop energy storage systems with used batteries, the companies said Thursday. The carmaker has provided 40 units of used batteries from its electric vehicle SM3 Z.E. to its counterpart to help the latter develop and start testing a new type of ESS by 2021.Renault Samsung plans to provide batteries that have reached retirement age from its ultramini EV Twizy and other EVs plan

Oct. 31, 2019

Hyundai unveils upgraded hydrogen bus for Korean police

Hyundai Motor unveiled an upgraded version of fuel cell electric bus powered by hydrogen for the Korean police on Thursday, in line with the law enforcement agency’s plan to turn its entire bus fleet green.The carmaker had previously introduced city bus-type hydrogen vehicles for the law enforcement agency, but it is the first model with large cargo space for police equipment and is suitable for long-haul travel. The latest model has two 95 kilowatt fuel cell stacks with hydrogen tanks pla

Oct. 31, 2019

Hyundai Motor invests in hydrogen tech companies overseas to lower costs

Seeking to lower the cost of manufacturing fuel cell electric vehicles and of producing and storing hydrogen, Hyundai Motor will make strategic investments in three companies in Europe and in the Middle East and pursue technical cooperation, the company said Wednesday. Hyundai Motor has agreed to work with Impact Coatings AB of Sweden, a supplier of PVD-based coating solutions for fuel cells; H2Pro of Israel, a startup that developed an electrochemical, thermally active chemical (E-TAC) water-sp

Oct. 30, 2019

Hyundai names new Genesis head

Manfred Fitzgerald who led Genesis, the luxury brand of Hyundai Motor, for nearly four years has tendered his resignation citing personal reasons, the company said Tuesday.The former director of brand and design Lamborghini joined the company in January 2016, and is said to have contributed to raising the brand’s profile in a short period of time. Genesis G70, the smallest sedan of the family, was named the Car of the Year in North America, early this year.Fitzgerald will be replaced by Le

Oct. 29, 2019

Hyundai, Taavura forge partnership for future mobility

South Korean carmaker Hyundai Motor and Israeli mobility firm Taavura have forged a partnership to seek business opportunities in future mobility, the companies said Tuesday.Established in 1955, Taavura is a logistics service firm that transports ground and air cargo and also imports and distributes vehicles as well as providing public transportation services. The Israeli company has been seeking to transform into an innovative company in the Middle East, expanding its business to information te

Oct. 29, 2019