KCGI, Jin Air employees dencry return of Korean Air heiress

The Korea Corporate Governance Improvement Fund, the second-largest stakeholder in the country’s flagship carrier, Korean Air, has publicly denounced the return of the late Chairman Cho Yang-ho’s younger daughter to a management role in light of the damage she has inflicted on the corporate image and the value of the company’s shares.The KCGI, which holds a nearly 16 percent stake in the air carrier, released a statement Wednesday saying Hanjin Group’s decision to reinsta

June 12, 2019

QM6 most popular midsized gasoline SUV in Korea

Renault Samsung’s QM6 GDe has hit record-high sales in the country’s midsized gasoline sport utility vehicle category, retaining its top position since its launch in 2017, data showed Wednesday. According to the Korea Automobile Manufacturers Association, the carmaker sold a total of 41,191 units of QM6 GDe from September 2017 to April, which accounts for 61.2 percent of the total sales of midsized gasoline SUVs sold here in three years. The automaker said as another 2,050 units

June 12, 2019

Majority of auto part makers in North Jeolla seek switch to EV business: survey

Around 82 percent of the Korean automobile parts makers in North Jeolla Province said they were seeking to switch to making electronic vehicle parts, a survey showed Friday. According to the survey conducted by Korea SMEs and Startups Agency on 403 auto components companies and subcontractors for General Motors Korea in North Jeolla Province, 82.6 percent said they were seeking to transfer their business to EV-parts production, amid dwindling plant operations in their region. Last year, GM

June 7, 2019

SsangYong’s Tivoli facelift adds new gasoline engine, colors

South Korean SUV maker SsangYong Motor on Tuesday launched the sale of its facelifted Tivoli, a B-segment crossover that has taken the No. 1 spot in the category in recent years. Introduced in 2015, the compact SUV has a new 1.5-liter turbo gasoline engine, a larger digital interface and more body colors, in an effort to lure young drivers looking for their first cars, officials said. SsangYong takes pride in the new gasoline engine, as it was strategically developed to make the Tivoli stronger

June 4, 2019

KCCI hosts annual photo competition on life, work

The Korea Chamber of Commerce and Industry, the nation’s largest group representing small and large businesses, is hosting an annual photo competition from Monday to Sept. 24. Under the theme of “Businessmen’s Workplace and Life,” panelists will look for photos that capture unexpected scenes at workplaces and people with stories. They expect creative pieces that are high in photographic quality. “Last year, we had a record number of 4,500 applicants, and intere

June 3, 2019

Construction of world’s first hydrogen station at parliament breaks ground

Hyundai Motor broke ground for a hydrogen refilling station in the middle of the National Assembly complex in Seoul on Thursday, marking the world’s first charging facility for fuel cell electric vehicles to be built at a parliament.It is also the first commercial hydrogen facility to be built in central Seoul, the company said. The project, the first case of the regulatory sandbox, will start operating at the end of August. The hydrogen station will operate from 8 a.m. to 10 p.m. daily. I

May 30, 2019

[Herald Interview] Regulation, resistance put Korea‘s ability to compete in future mobility in question

LEIPZIG, Germany -- Korea is a leader in information technology, which has led its economic growth for the last decade, but when it comes to mobility services -- often touted as the center of a paradigm shift in the “fourth industrial revolution” -- the country faces uncertainty. “It is clear that the world is going through a paradigm shift from manufacturing to mobility services in connection with development of autonomous driving,” said Lee Jae-ho, director of the digit

May 28, 2019

BMW Korea teases all-new BMW 1 Series

BMW Korea revealed Tuesday the return of BMW 1-Series that it said will provide customers a smooth ride with ultimate efficiency.The local branch of the German luxury carmaker said it would showcase its third-generation BMW 1-Series at the #NextGen event, to be held in Munich BMW Welt on June 25-27.The premium compact hatchback has undergone a design upgrade as well as technological advances that will enhance user experience, it said.The interior will boast a driver-centered design with more spa

May 28, 2019

Hyundai Motor delivers Nexo to Malaysia’s energy supplier

Hyundai Motor’s hydrogen fuel cell electric vehicle Nexo has been delivered to a Malaysian public energy company, the automaker said Tuesday, as part of its plan to expand into the Southeast Asian market with its eco-friendly model.  According to Hyundai Motor, two Nexo cars have been delivered to Sarawak Energy Berhad, a state-run energy supplier, during the opening ceremony for Southeast Asia’s first hydrogen charging station. The ceremony was attended by officials includ

May 28, 2019

Mercedes-Benz Korea holds charity marathon, raises W920m

The corporate social responsibility division of Mercedes-Benz Korea held its fourth annual charity marathon Sunday, saying it hoped to promote a spirit of community sharing and cultivate the philanthropic culture here, the company said Monday.Titled “Give ’n Race,” the annual event was jointly organized by the Seoul Metropolitan Government. Around 20,000 runners took part, raising about 920 million won ($776,000) -- the largest amount since the South Korean unit of the German c

May 27, 2019

Transport ministers forge alliance for connectivity, discuss development gap

LEIPZIG, Germany -- An annual forum of transport ministers around the world wrapped up Friday, strengthening an alliance to create better connectivity for regional prosperity, but leaving questions about developmental imbalance in the sector between advanced and emerging countries.The International Transport Forum, dubbed “the Davos of transport,” brought more than 1,000 government representatives, experts and business leaders from 71 countries to the German city of Leipzig, serving

May 26, 2019

Toyota joins SUV competition with all-new RAV4

Toyota has strengthened its lineup by launching the all-new RAV4 in South Korea to meet the growing demand for sport utility vehicles. With RAV4, short for Robust Accurate Vehicle 4 Wheel Drive, is Toyota’s first fully changed model in six years and the Japanese carmaker aims to hit a monthly sales target of 3,000 units, officials said during a launch event Thursday.“The all-new RAV4 was developed to offer the joy of driving in any given environment,” said Toyota Korea Presiden

May 26, 2019

Chinese minister plays down inter-Korean railway project

LEIPZIG, Germany -- Chinese Transport Minister Li Xiaopeng on Thursday said that China is not going to be involved in an inter-Korean railway project, saying it is “their own business.”When asked about China’s role in facilitating the project of reconnecting the railroad between South and North Korea, he said the project should be carried out by both countries, clearly indicating that China won’t be involved.“Reconnecting the railway network between two Koreas is th

May 23, 2019

Hyundai Motor heir stresses customer-first value, partnerships with mobility firms

Hyundai Motor Group Executive Vice Chairman Chung Eui-sun has vowed to bring the focus back to customers and stressed that the group’s future success lies on building firm partnerships with global mobility companies. The remarks came during an event by Carlye Group as part of its annual conference, which invites the world’s political and business leaders to share insights. Chung had been invited to share his thoughts and priorities for the world’s fifth-largest automaker.&

May 23, 2019

Vice transport minister opposes market entry of Uber

LEIPZIG, Germany -- Citing the role of taxis in Korea as a form of quasi-public transport, South Korea’s vice transport minister said Wednesday that he “disagrees” with the idea of global ride-hailing services like Uber and Lyft entering the local market.In an interview with Korean reporters covering the International Transport Forum in German city of Leipzig, Kim Jeong-ryeol, the second vice minister of transport, land and infrastructure, said that the Korean government was wo

May 23, 2019

Global policy framework to enhance transport connectivity in spotlight

LEIPZIG, Germany -- Seeking to set standards to improve transport connectivity around the world and address concerted efforts on decreasing carbon emissions, a three-day forum was kicked off in the German city of Leipzig with more than 1,000 delegates from 70 countries.At the International Transport Forum, dubbed as Davos of Transport, around 40 ministers gathered to discuss a wide range of topics from vehicle-to-vehicle connectivity to new trade routes. South Korea holds the presidency of this

May 22, 2019

[Foreign Execs in Korea: 1] Turning Hyundai Motor into agile global player

The Korea Herald is publishing a series of interviews with foreign executives at Korean firms on their role and vision for change, growth in the homogenous corporate world. -- Ed.What drove the former BMW executive to take on the heart of the research and development unit of Hyundai Motor four years ago was the strategic vision of the carmaker’s heir and Korean engineers’ ambition for perfection.In an interview with The Korea Herald, Albert Biermann, the head of R&D at Hyundai Mo

May 22, 2019

Renault Samsung union rejects tentative deal on wages

The labor union of Renault Samsung Motors Corp. on Tuesday voted down a tentative deal on wages and working conditions that it reached with the company last week, the union said.  Of the 2,219 union members present for the vote, 51.8 percent cast their ballots against the deal while 47.8 percent voted in favor.Last Thursday, the company and union announced that they had struck the tentative deal after drawn-out negotiations that started in June last year.During the negotiations, the company soug

May 21, 2019

Kia prepares for grand entry in India

Kia Motors, South Korea’s second-largest carmaker in terms of sales, has been pushing forward to successfully enter the Indian market in the latter half of this year.It has been conducting various marketing activities including a large-scale dealer event by inviting them to Korea.The automaker said the event was part of its efforts to raise brand awareness among Indian customers. Local car dealers from India pose for a photo during a Kia Motors’ event in Seoul on March 13. (Kia Motors)Some 120 I

May 20, 2019

‘Korean R&D center to play key role in Renault Group’s road map’

Renault Samsung Motors, the Korean unit of French automaker Renault Group, said its research and development center, Renault Technology Korea, will play a key role in the group’s vehicle design, safety tests and production technology. Located in Yongin, Gyeonggi Province, Renault Technology Korea was formerly a Samsung Motors research center established in 1997. It was renamed following Renault Group’s acquisition of the Korean carmaker in 2000.  Renault Samsung Motors CEO Dominic Senora speaks

May 19, 2019