Mercedes-Benz Korea plans to launch 9 new models including 2 EVs

Mercedes-Benz Korea will launch nine new models this year, including two electric vehicles, aiming to re-create the sales success of last year, the automaker said Wednesday. This year, the German brand will augment its flagship luxury sedan lineup by launching new C-Class and S-Class models. Also coming to local consumers this year are the revamped CLS, the four-door coupe and a new engine variant for the G-Class, the G 400 d. The automaker is also planning to roll out two pure electric v

Jan. 27, 2021

Hyundai’s Kona EV investigated for catching fire after recall

The Transport Ministry will investigate the cause of a fire involving a recalled unit of Hyundai’s Kona electric vehicle, as well as the propriety of the car maker’s recall measures, the ministry said Tuesday. On Saturday, a Kona EV caught on fire for an unknown reason, while it was charging in a public charging station in Daegu. According to the Ministry of Land, Infrastructure and Transport, the car had been recalled by the automaker. It decided the car should be investigated b

Jan. 26, 2021

Lotte, Shilla to close duty-free stores at Incheon Airport’s Terminal 1 after next month

Two major South Korean duty-free operators, Lotte and Shilla, will close their stores at Incheon Airport’s Terminal 1 next month, leaving more empty space at the airport. Both Lotte Duty Free and Shilla Duty Free’s leases expired in August but were extended for an additional six months after new bidders backed out before signing contracts, as the worsening coronavirus pandemic threatened prospects for duty-free shopping businesses. With the possibility of further extensions off th

Jan. 24, 2021

Air traffic halved in 2020 due to coronavirus pandemic

Air traffic volume in South Korea halved year-on-year in 2020 due to the coronavirus pandemic, government data showed Sunday. The Ministry of Land, Infrastructure and Transport said the number of flight operations last year totaled 421,000, down 50 percent from 2019. The volume on domestic routes fell 10.4 percent to 221,000, while international flights plummeted 66.4 percent to 200,000. Air traffic had been steadily increasing, from 739,000 flights in 2016 to 842,000 in 2019. Operations beg

Jan. 24, 2021

Hyundai Glovis pushes to tap East Asian logistics market

Hyundai Glovis, a vehicle delivery arm of South Korea’s Hyundai Motor Group, is pushing deeper into the East Asian freight and logistics market. The company, which in 2009 opened its third overseas office in Vietnam, has recently clinched a deal to build a logistics center in Ho Chi Minh City. Under the agreement, Hyundai Glovis will team up with Ulsan Port Authority to construct and operate the facility on a 30,000 square meter plot. Once completed, the center will serve as a logist

Jan. 24, 2021

Hyundai, Kia struggle in 3 key markets last year amid pandemic

Hyundai Motor Co. and affiliate Kia Corp. slumped in their three major markets last year amid the coronavirus pandemic, company data showed Sunday. Hyundai and Kia, South Korea's two biggest carmakers, saw their sales slump in the United States, Europe and China in 2020 as the COVID-19 pandemic affected vehicle production and sales. Among the three markets, the automakers performed worst in China, with their combined sales plunging 27 percent to 908,828 units last year from 664,744 the previou

Jan. 24, 2021

Budget airline industry poised for major shakeup

South Korea’s budget airline industry is poised for a seismic change this year, with two new players ready to enter the competition amid a pandemic-induced market consolidation. Aero K, one of the two, is set to begin operations next month. “Our first Cheongju-Jeju flight is scheduled on Feb. 19 after receiving permission for the route from the Transport Ministry yesterday,” one Aero K official told The Korea Herald. Two round-trip Airbus A320 flights between Cheongju Airp

Jan. 19, 2021

S. Korean carmakers sold over 600,000 SUVs in 2020

Sport utility vehicles (SUVs) sold by South Korean automakers sharply rose to exceed 600,000 units for the first time in 2020 on the back of the rising popularity of car camping and new lineups, industry data showed Sunday. Five companies -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 615,982 units last year, a 15.3 percent surge from a year earlier, the Korea Automobile Manufacturers Association (KAMA) said. SUV sa

Jan. 17, 2021

Jeep pins hope on bigger, luxury lineup to surpass 10,000 sales mark in Korea

After being hit by the COVID-19 pandemic last year, Jeep -- a brand under Fiat Chrysler Automobiles -- aims to restore its sales in Korea by rolling out new powerful models, including a brand new Grand Cherokee with diversified powertrains, Jeep’s global president said on Friday. In a video interview with reporters, Jeep President Christian Meunier laid out a positive outlook for the automaker in the Korean market, highlighting two new models of its iconic Grand Cherokee and the Wrangle

Jan. 15, 2021

Hyundai Motor Group to build first offshore fuel cell system plant in China

The first offshore fuel cell system plant for South Korea’s biggest carmaker Hyundai Motor Group will be established in Guangzhou, China, the automaker said Friday. The automotive group said it signed an investment contract with China’s Guangdong provincial government to establish an offshore fuel cell system production facility in Guangzhou there. The investment is part of its efforts to advance its leadership in the global hydrogen industry, and to support the industry rapidly

Jan. 15, 2021

Kia rebrands itself as mobility solution developer

Kia announced Friday a new brand strategy and future ambitions to transform the company to go beyond vehicle manufacturing to create mobility solutions for customers. In a digital showcase event on the company’s official YouTube channel, South Korea’s second-largest automaker announced a new corporate name removing “Motors” from its previous name of Kia Motors Corp. This signals the brand breaking away from its traditional manufacturing-driven business model to expan

Jan. 15, 2021

T'way Air to continue 'international flights to nowhere' later this month

Low-cost carrier T’way Air said Friday it will fly two more international flights to nowhere later this month, flying over Fukuoka, Japan. Passengers for the flights scheduled to take off from Incheon Airport on Jan. 30 and 31 will enjoy special deals for shopping at Lotte Duty Free stores as well as coupons and souvenir goods such as a calendar and blanket, the company said. “You will be able to enjoy the feelings of traveling as well as shopping with this new flight and have a un

Jan. 15, 2021

Kia to launch 7 new platform-based EV models by 2027

Kia Corp., South Korea's second-biggest carmaker by sales, said Friday it will launch seven all-electric models by 2027 to gain a share of the growing electric vehicle market. Kia said it will release its pure electric crossover model based on a new EV platform called the electric-global modular platform (E-GMP) in the first quarter, the company said in a statement. The new vehicle with the project name of "CV" will be the first global model to bear Kia's new logo. It also comes with

Jan. 15, 2021

4 companies to recall over 14,000 vehicles

Honda Motor Co., Audi Volkswagen Korea and two other companies will voluntarily recall over 14,000 vehicles to fix faulty components, the transport ministry said Friday. This is the latest in a series of recalls by carmakers operating in South Korea and vehicle importers due to problems with vehicle components. The four companies, including Scania Korea Group and Ford Sales Service Korea, are recalling a combined 14,217 units due to faulty components in five models, the Ministry of Land, Infra

Jan. 15, 2021

Korean Air files report for Asiana takeover

The nation’s flagship air carrier Korean Air on Thursday filed documents to the Fair Trade Commission and antitrust authorities in eight other countries for a review of its planned takeover of the debt-laden Asiana Airlines. “We’ve had a business combination application submitted by Korean Air regarding the purchase of Asiana Airlines’ shares,” the FTC said in a statement. The airline also took the same steps in eight other countries including the United States,

Jan. 14, 2021

Antitrust regulator starts review of Korean Air's Asiana takeover deal

South Korea's antitrust regulator said Thursday it has started to review a deal by Korean Air Lines Co., the country's biggest carrier, to buy the debt-ridden Asiana Airlines Inc. The Korea Fair Trade Commission (KFTC) said it will see if the merger of the nation's two largest carriers could constitute a monopoly or hurt market competition as Korean Air submitted an application for approval earlier in the day. In November 2020, Korean Air said it will acquire its smaller rival Asiana Airlines

Jan. 14, 2021

Auto exports sink over 20% on pandemic in 2020

South Korea's auto exports sank 21.4 percent on-year in 2020 as the new coronavirus pandemic disrupted global supply chains and sapped demand, data showed on Thursday. The country's shipments of cars reached 1.89 million units last year, compared with 2.4 million units posted in 2019, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, exports also moved down 13 percent to reach $37.4 billion. The number of cars shipped surrendered 33.9 percent on-

Jan. 14, 2021

Eastar to file for court receivership this month

Financially troubled budget carrier Eastar Jet said Wednesday it plans to file for court receivership this month to find a new investor amid the COVID-19 pandemic. Eastar Jet has had difficulties in finding a strategic investor since July when Jeju Air scrapped its plan to acquire the low-cost carrier. In the same month, Eastar's creditor banks withdrew their plan to extend loans to Jeju Air to help it take over Eastar. "Eastar aims to find a new investor through a court-led rehabilit

Jan. 13, 2021

Ford Korea to introduce six new cars in 2021

Ford Sales and Service Korea will release six new vehicles to gain an edge in the South Korean market, the automaker said Wednesday. Revealing the company’s business plan for 2021 in an online media conference, Ford Korea’s Managing Director David Jeffrey said the company aims to achieve strong growth in 2021 by focusing on the sport utility vehicle segment. “We approach 2021 full of energy, with a strong plan to launch relevant and exciting new vehicles that will ensure t

Jan. 13, 2021

Mercedes-Benz model 1st to be exchanged under lemon law in S. Korea

South Korea's transport ministry said Wednesday that a Mercedes-Benz S Series model became the first model that will be exchanged for malfunctions under a local lemon law. The Ministry of Land, Infrastructure and Transport said it held an experts' review committee meeting last month to decide whether the Mercedes-Benz S 350d 4MATIC sedan should be exchanged or refunded. The committee found the S 350d model's Idle Stop and Go (ISG) start-stop system is malfunctioning and ordered the German carm

Jan. 13, 2021