Hyundai Motor showcases Santa Fe SUV with fingerprint access in China

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Friday showcased an upgraded version of the Santa Fe sport utility vehicle in China as it is struggling to increase its sales in the world's largest automobile market. This photo shows Hyundai Motors Co.`s fourth-generation Santa Fe sport utility vehicle (SUV) introduced in China. (Yonhap)The fourth-generation Santa Fe SUV unveiled at the 16th China Guangzhou International Automobile Exhibition is tailored to satisfy the needs of Chi

Nov. 16, 2018

Hyundai Motor to invest in US drone maker

Hyundai Motor will invest in a US drone maker to conduct a joint study on future mobility in the use of high-functioning drones, the company said, without disclosing the size of the investment. The South Korean giant has agreed to partner with Top Flight Technologies, a startup that specializes in developing unmanned aerial vehicles. The US company established in 2014 is a leading manufacturer of hybrid propulsion engines that secure long flight time and a leader in autonomous flying technology.

Nov. 15, 2018

Elliott’s demands seeking to unlock Hyundai’s capital draw mixed views

Hyundai Motor Group headquarter in Seoul (Yonhap)The latest letter sent to Hyundai Motor by US hedge fund Elliott on Tuesday evening drew mixed views in the market Wednesday. Some are calling its requests reasonable, while others say it is intended to boost share prices for affiliates of the carmaker in which the hedge fund holds stock.Elliott, the world’s largest activist hedge fund, ramped up its pressure on South Korean auto giant Hyundai Motor, demanding it return 12 trillion won ($10.6 bill

Nov. 14, 2018

Nissan Leaf returns with longer driving range, improved connectivity

Nissan’s best-selling electric vehicle, the Leaf, has made a comeback in South Korea this month, with improved battery capacity and a sleeker look. The All-New Leaf, unveiled at the Daegu International Future Car Expo, is the second-generation model of the pure electric vehicle that debuted in December 2010.  All-New Leaf (Nissan Korea)As the best-selling EV brand in the world, this car has played a crucial role in dispelling concerns over electric vehicles and a lack of energy-supply infrastruc

Nov. 13, 2018

Hyundai union under pressure to join Gwangju plant plan

The government and lawmakers on Tuesday ramped up pressure on workers of Hyundai Motor to join a plan to build the automaker’s new plant in Gwangju as part of efforts to create new jobs and breathe new life into the local economy.Prime Minister Lee Nak-yeon urged the automaker and its unionized workers to join the Gwangju city government’s drive to build a manufacturing plant and create 12,000 new jobs, calling it an innovative project for the labor market. The plan mainly involves hiring more w

Nov. 13, 2018

Hyundai-Kia to launch connected car services in Europe with Vodafone

New Hyundai and Kia vehicles set to be released in Europe next year will feature high-tech connected car services enabled by the region’s biggest mobile carrier Vodafone, said South Korea’s No. 1 automobile group on Tuesday. Hyundai Motor, Kia Motors and Vodafone have set the goal of improving driving experiences for European customers by connecting vehicles using the internet of things technology, under a memorandum of understanding signed Monday.  From left: Nick Tunnel, executive director at

Nov. 13, 2018

Discord between GM Korea, union, KDB escalates

Tension surrounding GM Korea’s plan to spin off a new research and development entity has intensified, with politicians lashing out at the union for its actions and the carmaker for triggering chaos.The Democratic Party of Korea’s Rep. Hong Young-pyo, who currently represents Bupyeong, Incheon, where the GM Korea headquarters and its factory are located, criticized the labor union for “using excessively violent ways” and “forcing their ideas 100 percent” at a press conference earlier this week.H

Nov. 13, 2018

South Korea to adopt stricter consumer protection with lemon law

With South Korea’s amended Automobile Management Act, known as the Korean lemon law, set to go into effect in January, the Ministry of Land, Infrastructure and Transportation introduced detailed guidelines for refund and exchange of defective cars Monday.　Vehicles that undergo more than “two major repairs” due to defects found in essential parts such as the motor, driveline or brakes within a year from delivery with less than 20,000 kilometers driven are subject to refund or exchange under the n

Nov. 12, 2018

Hyundai Motor heir touts hydrogen as ultimate clean energy

Amid Hyundai Motor’s efforts to capitalize on its fuel cell electric vehicles, its Executive Vice Chairman Chung Eui-sun zoomed in on hydrogen energy as a key economic and social solution for clean mobility at a forum in Singapore last week, the company said Sunday.As the global automotive industry and governments search for clean mobility, Hyundai Motor has been trying to promote hydrogen cars as the ultimate eco-friendly transportation.After attending the forum, Chung flew to China, where he a

Nov. 11, 2018

Face-lifted G90 to hit overseas markets next year

High-end auto brand Genesis unveiled a teaser image of its flagship sedan G90, boasting a new look, with plans to begin sales here later this month and overseas next year, the company said Wednesday.Through the face-lifted G90, Genesis is hoping to accentuate the brand’s luxury identity and step up global sales, for which it will launch the sedan in North America next year followed by other regions.The G90, first released in 2015, completes the Genesis sedan lineup consisting of the G70 and G80,

Nov. 8, 2018

Hyundai Motor kicks off media art project in Seoul, Beijing, Moscow

Hyundai Motor, South Korea’s No. 1 automotive firm by sales, kicked off a media art project prepared simultaneously in Seoul, China and Russia dubbed “Future Humanity -- Our Shared Planet,” which aims to contemplate the future of humanity and mobility, the company said Thursday.The exhibition, which was made jointly with media art group Ars Electronica, began in Beijing and will open in Seoul later this week followed by Moscow later this month.Hyundai Motor Chief Vice Chairman Chung Eui-sun (fir

Nov. 8, 2018

Hyundai heir heads to Beijing after $250m investment in Singapore’s Grab

Hyundai Motor Chief Vice Chairman Chung Eui-sun on Wednesday headed to Beijing on the same day the automaker announced an additional $250 million investment in ride-hailing service Grab in Singapore, industry sources said Wednesday.Chung’s Beijing visit comes as the carmaker seeks to breathe new life into its sales in the country. Sales of Hyundai and sister company Kia Motors dived last year amid a diplomatic dispute between South Korea and China over Seoul’s decision to deploy an US anti-missi

Nov. 7, 2018

More foreign carmakers join ‘10,000-unit club’

As growing numbers of drivers choose foreign cars over local brands, more foreign car brands are expected to sell over 10,000 units here this year, industry data showed Tuesday.The 10,000-unit mark is a standard that measures whether foreign carmakers have made a safe landing here.According to the Korea Automobile Importers and Distributors Association, six foreign carmakers -- Mercedes-Benz, BMW, Toyota, Volkswagen, Land Rover and Audi -- have each sold more than 10,000 units so far this year.

Nov. 6, 2018

Posco chairman sets eyes on autos, battery component

While seeking stability in management, Posco’s new chairman said Monday that the company will expand its sales volume of auto steel up to 120 million tons a year by the 2025 to ultimately reach revenue of over 100 trillion won ($89 billion) and operating profit of 13 trillion won by 2030.The nation’s largest steelmaker sold around 91 million tons of steel used for vehicles last year, placing itself as one of the top five suppliers of automotive steel in the world. The company’s aim of expanding

Nov. 5, 2018

Guinness recognizes Benz Korea’s mass-kimchi-making event as record breaker

The Mercedes-Benz CSR committee set a record over the weekend, with 3,452 people gathering to make kimchi as part of its Mercedes-Benz Promise KimJang Project, the company said Monday. The event gained the Guinness World Records title for the most people making kimchi simultaneously.　Participants, who included employees of Mercedes-Benz Korea, dealers and affiliated companies, made 90 tons of kimchi and put it in 9,000 boxes, which were delivered to 25 food banks and 13 social welfare organizati

Nov. 5, 2018

Hyundai Mobis increases investment for self-driving technology

South Korean auto parts supplier Hyundai Mobis is striving to gain an upper hand in driverless technology, for which it will increase the ratio of investment in research and development to 10 percent of its auto parts revenue by 2021 from the current 7 percent, the company said Monday.It will also roughly double the number of professionals in autonomous driving from 600 people to over 1,000 in the cited period.“Among the technology Mobis is working on, we are particularly focusing our attention

Nov. 5, 2018

Hyundai's Genesis models surpass 200,000 units in global sales

Sales of Hyundai Motor Co.'s premium Genesis marque have surpassed a cumulative 200,000 units three years after its official launch, industry data showed Sunday.According to the data, the total sales of Genesis vehicles reached 206,882 as of the end of October, touching the 200,000 mark for the first time since November 2015, when Hyundai Motor launched the sub-luxury brand. (Yonhap)With global sales of 555 units of Genesis cars in the first year, 58,916 units were sold in the following year and

Nov. 4, 2018

Carmakers flock to Daegu for greener, self-driving auto industry

DAEGU -- With the aim of turning the former textile-industry city into an epicenter for the future car business, the Daegu city government held an international exposition on green and self-driving vehicles Thursday, with automakers and parts makers joining the drive. The second Daegu International Future Auto Expo, which kicked off for a four-day run jointly hosted by Daegu City and the Korea Academy for Automotive Engineering, attracted the participation of 248 companies from 22 countries at E

Nov. 1, 2018

[From the Scene] Aiming for a rebound, Hyundai focuses on creativity, innovation

HWASEONG, Gyeonggi Province -- Amid fears that the nation’s largest carmaker might be losing momentum, engineers at Hyundai Motor’s research and development center flaunted their creative and innovative ideas for cars of the future in front of executives seeking breakthroughs.Pitching products that ranged from stair-climbing personal mobility devices to air pumps to clear water away from side mirrors, 12 teams of young engineers competed in the annual R&D idea festival, suggesting new possibilit

Oct. 31, 2018

Hankook Tire Q3 net profit down 30.9% on costs, weak sales

Hankook Tire Co., the world's seventh-largest tiremaker by sales, said Monday that its third quarter net profit fell 30.9 percent from a year earlier on increased costs and weak sales.For the three months ending Sept. 30, net profit reached 118.9 billion won ($104.1 million), down from 171.9 billion won a year earlier, the company said in a statement.  (Herald DB)The tiremaker said the decline in net profit could be blamed on weak sales in global markets and an increase in operating costs at the

Oct. 29, 2018