Masta Electric looks to support SME owners

Masta Electric Vehicle on Tuesday signed a partnership with the Korean federation of small and medium business (SME) groups to support SME owners and expand its presence in the market. The two sides inked a memorandum of understanding at Masta Electric Vehicle’s exhibition booth at the Seoul Mobility Show held at Kintex in Gyeonggi Province. Representing some 20 SME groups and their 7 million members nationwide, the SMEs federation bought 400 units of Masta Him, the automaker’s small

April 4, 2023

KG Mobility unveils roadmap for reboot

KG Mobility, formerly SsangYong Motor, said Tuesday it will be reborn as a futuristic mobility company focusing on electric vehicles, autonomous driving and software-defined vehicles. “Unlike other global automakers, we don’t consider exporting cars as our one and only goal,” said KG Mobility Chairman Gwak Jae-sun during a press conference at Kintex, Ilsan, Gyeonggi Province. “Instead, we will strive to produce cars made from our own (automotive) technology.” With

April 4, 2023

[Photo News] Genesis' 1st coupe SUV

Genesis, Hyundai Motor Group's premium auto brand, unveiled its first coupe sports utility vehicle -- GV80 Coupe Concept -- at the Genesis House in New York on Monday. The carmaker said the GV80 Coupe Concept is developed to fit various lifestyles by combining practicality and sportiness based on the design philosophy of athletic elegance.

April 4, 2023

Incheon Airport likely to turn first profit in 3 years

Incheon Airport said Monday that it is expecting to turn a profit in the first quarter this year for the first time in nearly three years, largely driven by increased management efficiency and the gradual recovery of international travel. The exact earnings will be made available after mid-April, the airport said, adding that they are highly likely to see a profit, considering the January and February earnings as well as the estimated passenger revenue in March. Following the outbreak of the

April 3, 2023

Samsung Heavy wins W674.5b order for 2 LNG carriers

South Korean shipyard Samsung Heavy Industries Co. said Monday it has bagged a 674.5 billion-won ($517 million) order to build two liquefied natural gas carriers for an Asia-Pacific shipper. Samsung Heavy said in a regulatory filing that it will deliver the vessels to the undisclosed shipping company in stages by November 2026. So far this year, Samsung Heavy has clinched orders worth some $2.5 billion, or 26 percent of its 2023 target of $9.5 billion. In early January, Samsung Heavy obtained a

April 3, 2023

[Herald Interview] Porsche makes big electrification push for sports cars

Porsche Korea CEO Holger Gerrmann vowed to gain further traction with sporty electric vehicles from South Korea, the carmaker’s sixth-biggest market, whose appetite for luxury cars is entering the fast lane. “We successfully wrapped up 2022 with close to 9,000 sales volume. We were very humbled by the positive reception from the Korean customers,” said the CEO during an interview with The Korea Herald on Thursday on the sidelines of the Seoul Mobility Show that kicked off earli

April 3, 2023

[Test Drive] BMW XM boasts unparalleled driving experience

BMW has revived the high-performance M lineup with the launch of the BMW XM, the automaker’s first plug-in hybrid model in the BMW M series and the first standalone model since the debut of the BMW M1 coupe in 1978. At first sight, the BMW XM gives an overwhelming impression with its size and forceful exterior design. The sports activity vehicle is measured at a length of 5,110 millimeters, a width of 2,005 mm and a height of 1,755. The massive kidney grills on the front that light up on t

April 2, 2023

[Herald Interview] 'Shift to EVs is happening much faster than we think'

The swap to electric vehicles from cars equipped with internal combustion engines is happening much faster than we think, and EVs will eventually replace traditional cars, Mercedes-Benz Korea CEO Thomas Klein says. “I believe, sorry to say, the internal combustion engine is dead. The energy efficiency of that compared to electric engine is unfortunately not very good, and the one thing that we will all be short of is sustainable energy,” said Klein in an interview with The Korea Hera

April 2, 2023

[Photo News] Mobility show in full swing

Visitors check out cars on display at the Seoul Mobility Show 2023 at Kintex in Ilsan, Gyeonggi Province, on Saturday. Korea’s biggest annual automotive exhibition will be held through April 9, with 163 companies from 12 countries joining.

April 2, 2023

Hyundai Mipo Dockyard wins W240b order from Africa

South Korea's shipbuilder Hyundai Mipo Dockyard said Friday that it has recently signed a contract to supply four medium-sized product carriers to an Africa-based shipping company. The contract is worth a total of 240 billion won ($186 million). The product carriers will be built at Hyundai Mipo Dockyard in Ulsan and delivered to the shipping company from the second half of 2025. Hyundai Mipo Dockyard recently received orders for a total of 11 medium-sized product carriers in February. Foll

March 31, 2023

KG Mobility makes grand comeback with electrified Torres

SsangYong Motors has returned to the Seoul Mobility Show 2023 for the first time in four years under its new name, KG Mobility, with an electrified version of its bestselling midsized sport utility vehicle Torres EVX. “Changing the company’s name was not an easy decision. But after a series of ups and downs, we aim to deliver a total solution for mobility sectors,” said KG Mobility Chairman Gwak Jae-sun at a media preview Thursday at Kintex in Ilsan, Gyeonggi Province. The ca

March 30, 2023

Hyundai Sonata restyled

Hyundai Motor Company on Thursday launched the newest edition of its Sonata at the 2023 Seoul Mobility Show held at Kintex in Gyeonggi Province. The latest version of the midsize sedan is named “Sonata The Edge.” As the long-time popular model of the carmaker, the eighth-generation model has undergone almost a full face-lift with its design and technology updates. The automaker said it will begin taking pre-orders for the new Sonata on April 20. The new Sonata, which will go on sale

March 30, 2023

Mercedes-Benz underscores luxury, electrification

Mercedes-Benz Korea on Thursday reemphasized the German carmaker’s firm commitment to bolstering its lineup of luxury and electric vehicles in the Korean market. “Mercedes-Benz stayed true to the promise that we would ‘Lead in Electric,’ which it promised here in 2021, by completing the EQ lineup in all segments, without compromising its brand promise of ‘building the world’s most desirable cars,’” Thomas Klein, CEO of Mercedes-Benz Korea, said dur

March 30, 2023

Kia premieres EV9

Kia on Thursday unveiled its first all-electric large sports utility vehicle, the Kia EV9, at the 2023 Seoul Mobility Show at Kintex in Gyeonggi Province. The Kia EV9 is the South Korean automaker’s second all-electric vehicle equipped with the company’s self-developed EV platform named Electric Global Modular Platform, or E-GMP after the launch of the EV6 in 2021. “As Korea’s first large SUV EV model that has been equipped with innovative technology and spaciousness, the

March 30, 2023

BMW presents revamped electrification vision

BMW Korea presented the largest number of car lineups at 24 at the Seoul Mobility Show 2023, underscoring its net-zero initiative as a key vision for future mobility. BMW, along with sub-brands Mini and BMW Motorrad, introduced its distinctive clean car models powered by battery and hydrogen engines. The Korean unit of the German carmaker showcased the prototype of iX5, a hydrogen fuel cell vehicle, for the first time in Korea. On a single hydrogen charge, which takes around 3 to 4 minutes, it c

March 30, 2023

Porsche Vision 357 makes Asia debut in Seoul

Porsche Korea on Thursday showcased its Vision 357 sports car for the first time in Asia at the Seoul Mobility Show 2023, celebrating its 75 years of sports car history. The car model is an homage to the first-ever Porsche sports car, the 356, the dream sports car made by Ferry Porsche, the legendary car designer and founder of the German carmaker. The symbolic car made its Asia debut in Korea, Porsche's sixth-largest market. “We have sold around 310,000 vehicles worldwide last year a

March 30, 2023

Incheon Airport boasts logistics leadership

Incheon Airport marks its 22nd anniversary on Wednesday this year, celebrating a rebound in international travel and cargo shipping after the pandemic upended air travel for three years. Despite the setback, it has maintained its status as the second-largest logistics hub in Northeast Asia, Incheon International Airport Corp. said in a statement. Incheon Airport processed the second-largest amount of international cargo in the world both in 2021 and 2022, the airport said. Including passenger pl

March 29, 2023

Incheon Airport CEO resigns under political pressure

Incheon International Airport Corp. CEO Kim Kyung-wook said Tuesday he offered to resign, citing political pressure from Transport Minister Won Hee-ryong. “I have expressed my intention to resign to the Land, Infrastructure and Transport Minister on March 23 that I will be stepping down from the post on April 28,” said Kim during a press conference at Incheon Airport. “I asked the minister to withhold the news release until I resign as a courtesy. But somehow, a local news outl

March 28, 2023

[Graphic News] S. Korea’s beef imports hit record high in 2022

South Korea’s imports of beef reached a record high last year on growing demand for the meat and the government’s zero-tariff scheme, data showed. The country’s beef imports came to 477,000 metric tons in 2022, the largest volume ever, compared with 453,000 tons a year earlier, according to the data from the Korea Rural Economic Institute. Beef imports have been on a constant rise in recent years, and last year’s figure marked a 60 percent growth from that in 2015, the in

March 28, 2023

Asiana Airlines speeds up integration with Korean Air

Asiana Airlines said Monday it has formed a task force to accelerate the business integration process with Korean Air. The task force, headed by Asiana Airlines Vice President Won Yoo-suk, consists of a total of 42 staff and executives. Legal and strategic planning units will oversee the task force. The passenger and cargo business, finance and public relations units will also be collecting data requested by the remaining three jurisdictions -- the European Union, the US and Japan -- from whic

March 27, 2023