[News Focus] Unions stop Korean automakers from joining global trend to online sales

The way people buy cars is changing. As people become more familiar with shopping online amid the COVID-19 pandemic, the sentimental barrier against purchasing high-value items, and even cars, online is lowering. Seeing the changing trend, global automotive companies are moving fast to market their vehicles online, setting up online stores and coming up with online transaction systems. The latest to do so was Peugeot, which announced Wednesday it is offering a limited number of 100 e-2008s,

Aug. 4, 2021

Korean carmakers ask EU to be considerate with new carbon policy

South Korean carmakers called on the European Union to be considerate in adopting stricter regulations to curb carbon dioxide emissions due to a possible impact on the automobile industry and consumers' rights, a local industry association said Wednesday. Last month, the European Commission released its "Fit for 55" legislation package aimed at cutting net greenhouse gas emissions by 55 percent by 2030, higher than the previously set 40-percent target. The EU aims to ban the sale of

Aug. 4, 2021

Hyundai, Kia US sales up 26% in July

Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their sales jumped 26 percent in the United States last month from a year earlier on strong demand for SUVs. Hyundai Motor and Kia sold a total of 138,599 vehicles in the US last month, up from 110,156 units a year ago, the companies' sales data showed . SUV and eco-friendly models drove July sales as consumers responded to Hyundai's diversified lineup to find a vehicle that meets their transportation needs, Senior Vice President Ran

Aug. 4, 2021

Korean Air’s cargo-only passenger flights operation hits 10,000 mark

Korean Air has operated 10,000 cargo-only passenger flights as of Sunday, the airline said on Monday, as it pivoted to the cargo business amid a decline in air travel demand during the pandemic. The airline first flew a passenger flight carrying only cargo on the Incheon-Ho Chi Minh route in March last year. Since then, it has operated such flights on 65 routes to North America, Europe, Southeast Asia, China and Japan, transporting 400,000 tons of cargo around the world. Some 40 tons of cargo

Aug. 2, 2021

Kia starts sales of first all-electric EV6

Kia Corp. on Monday released its first all-electric sedan EV6 in the domestic market ahead of its global launch set for later this year. The model has logged 30,000 preorders since March, 21,016 of which were on the first day of the offer. It was the South Korean automaker’s best-ever presale record. EV6, built on the company’s new EV platform E-GMP, has also seen strong demand in Europe, where it will be released later this year, and the US is set for a 2022 release, the company

Aug. 2, 2021

Hyundai beats Toyota to top FCEV market in H1

Korean automaker Hyundai Motor Co. beat its Japanese rival Toyota to become the world's largest fuel cell electric vehicle (FCEV) maker in the first half of the year with the release of a facelifted model, industry data showed Monday. Hyundai Motor, the maker of the NEXO SUV, sold about 4,700 units in the January-June period, up 62.7 percent from a year earlier, according to the data by SNE Research. Hyundai slipped to second place in the FCEV market in the first quarter, but it regained the t

Aug. 2, 2021

Kakao Mobility buys into No. 1 on-call chauffeur service firm

Kakao Mobility is expanding into the on-call chauffeur service market by buying into the field’s No. 1 player, Korea Drive, the company said Sunday. According to Kakao Mobility, the mobility service affiliate of Kakao Group, its subsidiary CMNP has acquired an undisclosed amount of shares in Korea Drive. It has established a new company called K Drive to take over Korea Drive’s 1577 Chauffeur business. Kakao Mobility Chief Financial Officer Lee Chang-min will head K Drive. Whi

Aug. 1, 2021

Hyundai, LG collaborate to build EV battery plant in Indonesia

South Korea’s leading automaker Hyundai Motor Group and battery producer LG Energy Solution are joining forces to establish a $1.1 billion electric vehicle battery plant in Indonesia, the companies said Thursday. The two companies signed a memorandum of understanding with the Indonesian government for the plant, which would produce 10 gigawatt-hours worth of NCMA (nickel, cobalt, manganese, aluminum) lithium-ion battery cells annually, enough for 150,000 electric vehicles, the firms sai

July 29, 2021

Hankook Tire expands portfolio with global automakers

Hankook Tire & Technology, the world‘s sixth-largest tiremaker by sales, is further expanding its portfolio of Original Equipment tires by working with global automakers and ramping up efforts to secure core technology in the field. It has so far struck a partnership with 46 car brands for some 320 models across the world, according to the company on Wednesday, including premium brands such as Mercedes-Benz, BMW and Audi. Hankook Technodome, its flagship research and development faci

July 28, 2021

Hyundai Motor’s hydrogen trucks to start rolling in California from 2023

Hydrogen fuel-cell trucks from Hyundai Motor will hit the roads in California by 2023, said the South Korean automaker Tuesday, after it won a bid to provide clean-fuel vehicles for two clean-air projects in California. This will be Hyundai’s largest deployment of hydrogen vehicles in the United States. A consortium led by Hyundai and California’s Center for Transport and Environment, a government organization that promotes eco-friendly transportation projects, will roll out 30

July 27, 2021

Kumho Tire renews sponsorship with Tottenham Hotspur

South Korean tire maker Kumho Tire said on Tuesday it has renewed its sponsorship contract with English football club Tottenham Hotspur. The long-term extension to a deal that was first signed in 2016 marks the third time the company has continued its support for the team as their official tire partner. The move comes after South Korean player Son Heung-min recently signed a new four-year contract with the team until 2025. Son’s presence means his team also has many fans in his home cou

July 27, 2021

Will US’ HAAH be able to salvage cash-strapped SsangYong Motor?

After HAAH Automotive Holdings, a US-based automobile distributor, confirmed its intention to acquire SsangYong Motor, eyes are on whether the American firm, which just gave up on its Chinese car business with a bankruptcy filing, will be able to close the deal to salvage the financially troubled automaker in Korea. Speaking to a US media outlet, the founder and chief executive officer of HAAH Automotive, Duke Hale, revealed that it has established a new company, Cardinal One Motors, which wi

July 26, 2021

[Advertorial] Mercedes-Benz accessories enjoy booming sales

Mercedes-Benz Korea is expanding its business beyond cars and car-related items on the back of strong sales: with accessories. The Korean branch of the German automaker currently sells some 4,000 branded accessories and about 1,000 “collection items” made in collaboration with other companies at 41 stores and online. The products are diverse and not limited to car-related uses, such as wallets and clothes. Sales of the accessories have shown steady growth since 2014, Mercedes-B

July 26, 2021

Korea’s 1st travel bubble opens to a slow start

South Korea’s first travel bubble with Saipan kicked off quietly on Saturday morning with just a handful of passengers traveling under the scheme amid a fourth wave of COVID-19 infections. Two flights from Asiana Airlines and low-cost carrier Jeju Air departed from Incheon Airport for the main island in the Northern Mariana island chain. Though a total of 92 passengers were on board both flights, only six people on board the Asiana flight were traveling under the quarantine-free travel a

July 25, 2021

Hyundai Motor to improve safety of second life battery energy storage system

South Korea’s top automaker Hyundai Motor said Sunday it has signed a memorandum of understanding with safety standards company UL to strengthen the safety of its second life battery energy storage system, also known as SLBESS. The move will see both companies work together in adopting the UL Signature Solution to strengthen credibility, jointly developing exclusive UL evaluation standards, as well as collaborate in “multiple aspects” for demonstration projects in North Americ

July 25, 2021

Kia to suspend local plant on COVID-19 infections

Kia Corp., South Korea's second-biggest carmaker, said Sunday it will suspend one of its eight domestic plants on Monday as dozens of workers at the factory were infected with COVID-19 in recent days. The No. 1 Sohari plant's suspension may be extended depending on the result of coronavirus tests on its workers, a company spokesman said. The Sohari plant in Gwangmyeong, just south of Seoul, has an annual output capacity of 320,000 units and mainly produces the Stinger sports car, the K9 flags

July 25, 2021

Hyundai’s honorary chairman inducted into Automotive Hall of Fame

Hyundai Motor Group’s Honorary Chairman Chung Mong-Koo became the first Korean to be officially inducted into the international Automotive Hall of Fame, the automotive giant said Friday. His son, Chung Euisun, who is the incumbent chairman of the group, received the trophy and delivered a speech on behalf of his father at the ceremony for 2020 and 2021 inductees, held at the ICON Convention Center in Detroit, the United States on Thursday, the company said. “Honorary Chairman Ch

July 23, 2021

GM Korea, labor union reach tentative wage deal

GM Korea Co., the South Korean unit of General Motors Co., and its labor union reached a tentative wage deal on Thursday, one day after its unionized workers went on partial strike for higher pay. The deal includes an increase of 30,000 won ($26) in monthly base pay and a one-off bonus of 4.5 million won. The wage agreement is subject to a vote by union members. Unionized workers at GM Korea Co. launched a partial strike Wednesday to demand higher wages amid the protracted pandemic. The uni

July 22, 2021

Hyundai, Kia achieve record Q2 sales from recovering demand

Hyundai Motor and Kia Motors under Hyundai Motor Group posted all-time high sales in the second quarter this year amid rapidly recovering demand for cars after the COVID-19 outbreak. In a regulatory filing, Hyundai Motor said it raked in 30.3 trillion won ($26.36 billion) in sales in the second quarter of this year, a 38.7 percent jump from the same period last year. The operating profit reached 1.88 trillion won, increasing 219.5 percent on-year, according to the automaker. It is the first

July 22, 2021

Volkswagen Korea cuts prices for latest SUV

Hoping to see more imported cars running on the streets in South Korea, German carmaker Volkswagen decided to lower the prices for its latest sport utility vehicles, the company said Thursday. Through an online press conference, Volkswagen Korea’s Managing Director Stefan Krapp announced the launch of The New Tiguan and introduced the automaker‘s “democratization” strategy. “We want to be the most accessible, most affordable, premium brand for Korean customers

July 22, 2021