[Photo News] Pony-inspired N Vision 74

Hyundai Motor Group Executive Chair Chung Euisun (center) stands next to the N Vision 74 hydrogen hybrid electric vehicle, inspired by the carmaker’s first-ever car model, the Pony coupe, at the prestigious Concorso d’ Eleganza Villa d’Este classic car show held in Lake Como, Italy, Saturday. During the annual event, the carmaker unveiled its recently revived Pony Coupe Concept 49 years after the car made its debut in 1974 at the Turin Motor Show. The N Vision 74 is a test ca

May 21, 2023

Korean Air: 'No official decision made by US on merger'

Regarding the news that the US government might officially interfere with South Korean national carrier Korean Air's merger with its smaller domestic rival, Korean Air said that the US authorities have not told them of any official decisions, Friday. According to the US news website Politico, the US Justice Department is considering a lawsuit against the Korean Air on the basis that the company's business integration with Asiana Airlines could result in a monopolization that could prev

May 19, 2023

Hyundai Motor resurrects Pony Coupe Concept

Hyundai Motor Company has brought back the Pony Coupe Concept vehicle about 50 years after the original vehicle was first showcased at the 1974 Turin Motor Show in Italy to highlight the automaker’s history and heritage. Hyundai Motor unveiled the restored Pony Coupe Concept at the inaugural event for Hyundai Reunion -- a heritage brand platform that reflects on the automaker’s past and its future direction -- in Lake Como, Italy, on Thursday. "Despite the poor industrial enviro

May 19, 2023

[From the Scene] Renault’s Busan plant aims to become key export base

BUSAN -- Renault Korea Motors seeks a bigger presence as its Busan plant aims to become a regional export base for the French auto giant. On Tuesday, the carmaker held a media event at its Busan plant to unveil its cost-effective shipping know-how and longer-term export strategy. At the plant, Renault’s top-selling compact SUV XM3 Arkana was being loaded into a container box before shipment from Busan New Port to Le Havre, a northwestern coastal city in France. Three Arkana cars were loa

May 18, 2023

Kumho Tire touts successful TCR World Tour sponsorship in Portugal

Kumho Tire announced Thursday it has successfully sponsored the opening race of the Touring Car Racing World Tour, a renowned motorsport competition promoted by WSC Group that took place April 29-30 at the Algarve International Circuit in Portugal. Signing a three-year title sponsorship deal with WSC last February, Kumho sponsored all the racing tires in the drivers’ cars for the competition, leading to dynamic races. Prestigious carmakers such as Audi, Honda and Hyundai Motor have shown t

May 18, 2023

Kia mulls $1b EV expansion of Mexico plant

Hyundai Motor Group’s Kia Motors is in talks to expand the production lines at its Mexico plant as part of efforts to bolster responsiveness to US subsidies for electric vehicles, according to company officials and local authorities on Tuesday. “We are not building a new plant but (we are) considering transferring some of the production lines for EVs,” a Kia official told The Korea Herald. “The move is part of our response to the Inflation Reduction Act in the US. But the

May 16, 2023

Auto exports jump 40% in April on vibrant eco-friendly car sales

South Korea's car exports surged 40.3 percent on-year in April on the back of solid demand for eco-friendly cars, the industry ministry said Tuesday. The value of outbound shipments of automobiles came to $6.16 billion last month, compared with $4.4 billion a year earlier, according to the data from the Ministry of Trade, Industry and Energy. It is the highest monthly figure for any April, it added. In terms of volume, exports also logged the largest figure for any April with 247,399 vehicl

May 16, 2023

[Herald Interview] US states compete to lure Korean battery makers

A growing number of US states are going all-out to attract lucrative production lines of Korean battery makers, with some of them offering hefty incentives in addition to the federal government’s tax cuts under the Inflation Reduction Act. “There’s a national competition among some states. It really comes down to the whole package of what a state can offer,” Indiana’s Secretary of Commerce Brad Chambers told The Korea Herald in a recent phone interview. Indiana has

May 15, 2023

[Test Drive] Face-lifted Rexton boasts powered toughness

KG Mobility, formerly known as SsangYong Motor, is hoping to expand the market size of its long-beloved large sports utility vehicle Rexton and pickup truck Rexton Sports with the latest face-lifted versions of the two signature brands: Rexton New Arena and Rexton Sports&Khan Culmen. The automaker held the test drive events for the Rexton New Arena and Rexton Sports&Khan Culmen last week with about 100 South Korean media outlets taking part. The 220-kilometer test drive included winding

May 15, 2023

[Test Drive] Hyundai Sonata gets sporty upgrade

The face-lifted version of Hyundai’s flagship family sedan Sonata the Edge has made a grand comeback after four years, making its 37th anniversary this year. The Sonata is the longest-running car in South Korea, selling around 9.3 million units since its launch in 1985. But the beloved midsized sedan suffered a setback in recent years as more drivers flock to SUVs. Amid slowing sales, the car even faced rumors that it might be discontinued when the carmaker delayed launching the eighth-gen

May 14, 2023

[Graphic News] S. Korea’s whisky imports soar about 80% in Q1

South Korea’s whisky imports shot up nearly 80 percent in the first quarter of this year on the liquor’s surging popularity among young Koreans amid the coronavirus pandemic, data showed. The volume of imported whisky came to 8,443 metric tons in the January-March period, up 78.2 percent from a year earlier, according to the data from the Korea Customs Service. It marks the highest first-quarter tally since 2000, when data tracking began. It is also the largest quarterly figure after

May 12, 2023

Hyundai Motor gobbles 55% of hydrogen fuel-cell vehicle market in Q1

South Korean automaker Hyundai Motor captured more than half of the global hydrogen fuel-cell vehicle market in the first quarter, according to energy market tracker SNE Research on Thursday. A total of 3,737 hydrogen fuel-cell vehicles were sold worldwide in the first three months of 2023, up 4.5 percent on-year. Among manufacturers, Hyundai Motor sold a total of 2,042 vehicles, of which it sold 2,013 units of the Nexo -- an 19.8 percent increase on-year. Hyundai’s market share increased

May 11, 2023

[Photo News] Portable green energy

BMW Korea Future Fund will offer an opportunity to check out the German automaker's green energy technology at the upcoming Seoul Safety Festival taking place from Thursday through Saturday in Yeouido Park, the nonprofit organization said Wednesday. The nonprofit will display its Next Green To-Go mobile energy storage system, which uses electric vehicle batteries, to show the importance and different ways of using eco-friendly energy. The German luxury carmaker set up the fund in 2011 to

May 10, 2023

Jeju Air shifts to net profit in Q1 as travel demand recovers

Jeju Air Co., South Korea's biggest budget carrier, said Tuesday it shifted to a net profit in the first quarter from a year earlier on recovering travel demand amid eased COVID-19 curbs. In the three months ended in March, Jeju Air swung to a net profit of 48.19 billion won ($36 million) from a net loss of 64.91 billion won during the same period last year, the company said in a statement. "Increased flights to Southeast Asian countries helped offset lackluster travel demand to China,

May 9, 2023

Kia outpaces Tesla in profitability

Hyundai Motor Group’s smaller affiliate Kia outpaced Tesla in operating profit margin in the first three months this year, shedding light on how a legacy carmaker could challenge the world’s top electric vehicle company, an analyst report showed Tuesday. Kia’s first-quarter operating profit margin came to 12.1 percent, surpassing that of Tesla’s 11 percent, according to the Samsung Securities report. “Kia could be the only traditional auto maker that can compete h

May 9, 2023

Korea’s battery exports to grow 33% annually until 2030: Goldman Sachs

South Korea’s battery exports are estimated to post an annual growth rate of 33 percent until 2030, boosting the country’s GDP growth by 0.3 percent, a report issued by Goldman Sachs showed Monday. According to the global investment bank, Korean battery makers’ global sales are expected to surge by an average of 43 percent in the cited period. The nation’s rapid expansion of its EV supply chain will have a positive impact on macroeconomic indicators such as the GDP gr

May 8, 2023

[From The Scene] EV diagnostics key to safety: KITECH

JEJU, Jeju Island -- Amid the booming market for electric vehicles, demand for car maintenance and diagnostics services has been on the rise to prevent fatal accidents on the roads. In a move to offer enhanced diagnostic technology for EV failure and repair, the Jeju Island unit of the state-run Korea Institute of Industrial Technology demonstrated a test that collects data from driving electric cars in front of the media on Thursday. During the test performed at the institute's headquart

May 7, 2023

[Photo News] Honoring fallen heroes

Hyundai Motor Group officials including Executive Chair Chung Euisun (fourth from left) paid their respects to fallen soldiers at the Korean War Veterans Memorial in Washington on April 26, according to the Korea-US Alliance Thursday. Chung laid a wreath at the memorial on behalf of Hyundai Motor Group. He accompanied President Yoon Suk Yeol’s state visit to the United States last week as a member of the Korean business delegation.

May 4, 2023

Korean Air unveils Blackpink aircraft endorsing Busan's expo bid

Korean Air unveiled a special aircraft dedicated to endorsing Korea’s 2030 Busan World Expo bid during an event held at Incheon Airport on Wednesday. The aircraft, a Boeing 777-300ER, displays the image of world-renowned K-pop idol group Blackpink, bringing attention to and fostering support for the expo bid. “It is a great honor to be part of the nationwide efforts to raise awareness and gather support for Korea’s bid for the World Expo. We will fulfill our role as an ambassad

May 3, 2023

[Photo News] Hyundai's new hydrogen-powered truck

Hyundai Motor Group said Wednesday that it has unveiled its new hydrogen-powered heavy-duty electric trucks during the Advanced Clean Transportation Expo 2023. The new XCIENT Fuel Cell Tractor, weighing 37.2 tons, was developed to suit the North American market, where long-distance operations are common. It is equipped with a 180-kilowatt hydrogen fuel cell system.

May 3, 2023