CJ Logistics introduces electric trucks in local industry first

CJ Logistics said Wednesday it will introduce electric trucks to replace its diesel vehicles, for the first time in the Korean logistics industry. The company said it will introduce 1-ton electric freight vehicles and also start a new business installing EV charging stations for the trucks. To begin, the company said it will operate two electric trucks each in two sub-terminals in Gunpo, Gyeonggi Province, and Ulsan. Marking the introduction of the electric vehicles, CJ Logistics held an ope

Nov. 18, 2020

Hanjin chief defends merger amid criticism

Hanjin Group Chairman Cho Won-tae said Wednesday that the merger of the nation’s two largest carriers, Korean Air and Asiana Airlines, will not lead to price hikes or workforce restructuring. After attending the Korea-US Business Meeting at the Federation of Korean Industries in Seoul, Cho told reporters, “There may be concerns about such a (monopoly),” but “there will be no (lower) customer convenience or price hikes.” Regarding the restructuring of the workfor

Nov. 18, 2020

Sitting room with a steering wheel: BMW unveils new electric Mini concept

BMW Group unveiled Tuesday a new electric vehicle concept for its Mini brand, dubbed Mini Vision Urbanaut, tha seeks to bring a living-room like feel to the interior. During its #NEXTGen 2020 digital showcase held online, the German-based automaker revealed the new “digital vision vehicle” that uses a purely electric drive system. “In the MINI Vision Urbanaut, we extend private space far into the public realm, creating completely new and enriching experiences,“ Adrian

Nov. 17, 2020

Renault Samsung's SM6 gains popularity with new powertrain

The revamped version of the SM6 is gaining popularity for its new powertrain, Renault Samsung Motors said Tuesday. First released in 2016, the automaker presented the revamped version of the new SM6 in July this year, with upgrades in its powertrains. The automaker said it took three and six months to present the upgraded mode, to take in and reflect the opinions of its customers. For the development of the facelifted SM6, the company plowed in 230 billion won ($208 million), Renault Samsung

Nov. 17, 2020

GM Korea workers to strike again

GM Korea’s labor union, which is in a tug-of-war with the management over wage and collective bargaining negotiations, is set to stage another four-day partial strike starting Tuesday, adding to the uncertainties facing the automaker as it struggles with weak performance. The GM Korea union said Monday that it had decided at a central dispute committee meeting to stage a four-hour partial strike from Tuesday to Friday. It will be the fourth partial strike in this year’s wage negotia

Nov. 17, 2020

[News Focus] Korean Air’s acquisition of Asiana to create global top 10 airline

South Korea will have a mega carrier ranking as one of the world’s top 10 by fleet, following the country’s No. 1 carrier Korean Air’s decision to acquire its close rival Asiana Airlines on Monday. In the past months, Kumho Industrial struggled to find a new owner for Asiana, the country’s second biggest carrier. Most recently, its attempt to sell it to HDC Hyundai Development, a local property developer, collapsed amid the COVID-19 pandemic. On Monday, Korean Air an

Nov. 16, 2020

[Monitor] Korea to have world’s 10th-largest airline

According to global aviation industry statistics released by the International Air Transport Association, Korean Air stood at No. 18 among airlines worldwide in terms of revenue-passenger kilometer, a measure of the distance traveled by all the passengers. Asiana Airlines, another flag carrier of South Korea, came in at No. 32. If Korean Air successfully acquires Asiana Airlines as planned, it would rise to 11th place. In terms of the number of international transport passengers, the acqui

Nov. 16, 2020

[Behind the Wheel] Hyundai Motor’s new Kona returns with race-inspired N-Line

Hyundai Motor’s latest Kona model was launched in South Korea as the automaker’s first race-inspired sport utility vehicle. Since the compact SUV Kona was first launched in 2017, other models, such as the Kona Electric and Kona Hybrid, were released in 2017 and 2018, respectively. This year, Hyundai added another derivative, the N-Line. Last month, the Korea Herald had an opportunity to test-drive the newest Kona for about two hours in Gyeonggi Province. The Kona N-Line looks mo

Nov. 15, 2020

Ministries to discuss Korean Air’s plan to buy rival Asiana

Following reports of Korean Air’s possible acquisition of Asiana Airlines, the government is set to hold a meeting on Monday to discuss the deal between South Korea’s flag carriers, according to financial industry sources on Sunday. During a ministerial meeting presided over by the country’s chief of economy and industries, ways to normalize Asiana’s business are expected to be discussed, including reported plans by Hanjin Group, which owns Korean Air, to buy out its tr

Nov. 15, 2020

Hyundai to launch Genesis GV80 SUV in US within this year

Hyundai Motor Co. said Sunday it will begin the sale of the GV80 SUV under its independent Genesis brand in the United States within this year to support sales despite the coronavirus outbreak. Hyundai launched the GV80 SUV in South Korea in January and plans to introduce the first SUV model with the Genesis badge in the US as well as other markets such as Australia, Russia and the Middle East in the fourth quarter, a company spokesman said over the phone. The maker of the Sonata sedan and t

Nov. 15, 2020

Owner of Korean Air in talks to acquire Asiana Airlines: sources

Hanjin Group, which owns South Korea's top flag carrier Korean Air Lines, is mulling acquiring the country's No. 2 carrier Asiana Airlines Inc., sources here said Thursday. Hanjin Group is in talks with the state-run Korea Development Bank, the main creditor of Asiana, to buy the debt-ridden carrier, the sources said. "The KDB first came up with the idea, and they have been negotiating for about two months," a source familiar with the matter said. A KDB official said a deal with

Nov. 12, 2020

Hyundai Motor partners with SP Group to create EV ecosystem in Southeast Asia

Hyundai Motor is set to partner with Singapore’s largest charging company SP Group to lay the groundwork for a Southeast Asian electric vehicle battery subscription service, the firm said Thursday. On the same day, Hyundai Motor and SP Group signed a business agreement to discover new battery-use businesses in the city-state. The signing ceremony was attended by Chung Hong-beom, Hyundai Motor’s SF Innovation Center chief, and Chuah Kee Heng, CEO of SP Group’s eco-friendly ene

Nov. 12, 2020

Kia Motors becomes 11th largest firm by market cap, mulls name change

Kia Motors has overtaken Hyundai Mobis to stand as the 11th-largest company by market capitalization in South Korea on Thursday. According to the Korea Exchange, the carmaker’s market capitalization was 23.5 trillion won ($21.1 billion), up 6.61 percent from the day before when the market closed Wednesday. The recent bump in market capitalization leaves behind Hyundai Mobis as Kia Motors inches toward the ranks of the top 10 players in the country’s stock market. The last time the

Nov. 12, 2020

Hyundai launches Sonata N Line in S. Korea

Hyundai Motor Co. on Thursday launched the Sonata N Line model in the domestic market to diversify its lineup. The Sonata N Line sedan comes with a 2.5-liter turbocharged gasoline engine and an eight-speed dual clutch transmission, the company said in a statement. It can reach 100 kilometers per hour in 6.5 seconds and is equipped with safety features, such as the lane keeping assist and front collision avoidance systems, it said. The model is priced at 30 million won-36 million won ($27,00

Nov. 12, 2020

Renault Samsung CEO vows to maintain good relations with labor union

GAPYEONG, Gyeonggi Province -- Renault Samsung Motors CEO Dominique Signora stressed the importance of maintaining good labor relations Wednesday, following the reelection of a hardline union chief days before.  Speaking to reporters during a test-driving event for the revamped QM6, Signora also said his company would make utmost efforts to gain competitiveness in global sales, as exports are crucial for company sales.  The automaker decided to export the XM3, its compact sports util

Nov. 11, 2020

Drone taxi flies over Seoul in first test flight

A drone taxi flew over Yeouido, Seoul, for the first time Wednesday morning as part of South Korea’s road map to realize the commercialization of urban air mobility by 2025. The Seoul Metropolitan Government co-hosted an event with the Ministry of Land, Infrastructure and Transport to demonstrate the drone taxi as part of future mobility that could ease the city’s traffic congestion. For the demonstration, one two-seater drone aircraft -- with no one on board -- was used. The air

Nov. 11, 2020

[Herald Interview] Han Sung Motor takes big leap in digital customer journey

Mercedes-Benz Korea official dealer Han Sung Motor plans to continue investment to meet customer expectations and to accelerate the digital customer journey in the post-COVID-19 era, the CEO said in an interview with The Korea Herald. “Korea is now the fifth-biggest market for Mercedes-Benz in the world,” said Han Sung Motor’s CEO Ulf Ausprung in its Seoul headquarters where luxury Cheongdam showroom is located. “There was an immense development in the Korean car marke

Nov. 11, 2020

Renault bets on SUV models to revive sales in S. Korea

GAPYEONG -- Renault Samsung Motors Corp., the South Korean unit of Renault SA, will focus on promoting SUV models to revive sales amid the coronavirus pandemic, the company's country manager said Wednesday. Renault Samsung has suffered a sharp decline in sales this year in Asia's fourth-biggest economy due to lack of new models and the COVID-19 pandemic's impact on production and sales. "We don't really know about the market because of the coronavirus, but the QM6 SUV and the XM3 SUV (set

Nov. 11, 2020

GM Korea workers continue partial strike over wage talks

Unionized workers at GM Korea Co. said Wednesday that they will continue their partial strike this week for higher wages despite the company's statement that it may reconsider planned investments in its plants. GM Korea's daytime and night-duty workers will stage a four-hour strike from Wednesday to Friday, while continuing to refuse to work overtime during the week and on the weekend, union spokesman Cho Ha-soo said over the phone. The daytime and night workers already held two rounds of par

Nov. 11, 2020

Hyundai to produce new Tucson SUV in US plant next year

South Korea's Hyundai Motor Co. said Tuesday it will produce the all-new Tucson SUV in its US plant to meet local demand for SUV models. Hyundai Motor plans to produce the 2022 Tucson gasoline and gasoline hybrid models in the Alabama plant next year for the sale of the compact SUV in the US market starting early next year, the company said in a statement. The Tucson with a gasoline and a gasoline hybrid engine will also be manufactured in Hyundai's main Ulsan plant in South Korea. The 2022

Nov. 10, 2020