Volvo Car Korea CEO Lee Yun-mo poses next to the all-new XC90 SUV at a launch in Seoul, Wednesday. 　　 Swedish luxury carmaker Volvo Car launched the all-new XC90, a seven-seater premium SUV, in Seoul on Wednesday and started accepting preorders.　The company hopes that its latest flagship SUV will fuel growth momentum in Korea, one of the world’s most dynamic markets for luxury carmakers. 　“Considering the fast-growing premium SUV market in Korea, the company has set the annual sales target for X

Mobility March 2, 2016

   Hyundai Motor Group vice chairman Chung Eui-sun hinted Wednesday that the carmaker will proactively invest more in future car projects, adding that the company will extend the role and domain of a car in its bid to  create “mobility freedom’’ for people. Hyundai Motor Group vice chairman Chung Eui-sun (second from right) poses with David De Rothschild (right), a British adventurer and environmentalist, and Hyundai Motor executives after the launch event for Hyundai’s Ioniq line-up on the open

Mobility March 2, 2016

Doosan Group plans to elect Park Jeong-won, head of Doosan Corp., as the industrial conglomerate’s new chairman when it holds a shareholders’ meeting on March 25, group officials said Wednesday.Park, 54, will replace group chairman Park Yong-maan, who also heads the Korea Chamber of Commerce and Industry.Doosan Group chairman Park Yong-maan (right) and his nephew Park Jeong-won who was tapped as his successor (Yonhap)The officials said the board of Doosan Corp, the group’s holding company, recom

Business March 2, 2016

　 　 HYUNDAI IONIQ LINEUP-- Hyundai Motor displays the full lineup of Ioniq, its dedicated electric vehicle brand, including hybrid, pure EV and plug-in hybrid models, at the media preview event for the 2016 Geneva International Auto Show in Switzerland on Tuesday. Hyundai unveiled Ioniq EV and PHEV at the show in a world premiere. (Hyundai Motor)

Business March 2, 2016

EXTENDED TIVOLI -- Ssangyong Motor CEO Choi Johng-sik poses next to the XLV, the extended version of Tivoli, the automaker’s best-selling compact SUV, during the media preview event for the 2016 Geneva International Motor Show on Tuesday. The XLV, which will be named the Tivoil Air in Korea, will debut this month. Ssangyong Motor 　

Latest News March 1, 2016

A consortium proposing the development of a casino-driven integrated resort on Yeongjongdo Island in Incheon has won the business license to do so, the Ministry of Culture, Sports and Tourism said Friday. The island is where Incheon International Airport is located. Inspire Integrated Resort, a special purpose company, jointly set up by U.S.-based casino operator Mohegan Sun, Incheon Airport and KCC, a leading Korean construction materials maker, won the heated bid, the ministry added. The compa

Feb. 26, 2016

Tivoli, Ssangyong's compact SUV, was selected as the best family car in Belgium.　For marketers, the car industry is one of the most difficult sectors as no single factor determines customers’ decision to buy one of their biggest assets. While some consumers focus on the design of a car, others are obsessed with the emblem of luxury car brands. 　For those in their 20s and 30s whose wallets are relatively slim, price has been one of key factors that affects their car buying decision. However, mill

Mobility Feb. 26, 2016

A group of unionized pilots at Korean Air conduct a silent rally in front of Korean Air’s headquarters near the Gimpo International Airport on Thursday. Yonhap　Korean Air, the nation’s largest flag carrier, requested a court injunction Thursday to put an end to a strike by pilots, claiming their union vote was “invalid.” 　The Korean Air Pilot Union, one of the two pilot unions in Korean Air, went on a strike last Saturday a day after a majority of about 1,900 unionized pilots voted in favor, whi

Business Feb. 25, 2016

KOTRA CEO Kim Jae-hong   The Korea Herald  Korea will shift its focus from conglomerates to small and medium enterprises for reviving falling exports along with structural changes, the head of the state-run investment and export promotion agency said Wednesday.“The outlook for the nation’s outbound shipments this year looks grim not only because of the prolonged global economic downturn but also due to structural issues,’’ said Kim Jae-hong, CEO of Korea Trade-Investment Promotion Agency, during

Business Feb. 24, 2016

  With the season for annual shareholders meetings of the nation’s conglomerates approaching, the limelight is on SK Group chairman Chey Tae-won once again. 　Two months ago, the business tycoon suffered a public backlash with his confession about an extramarital affair and a love child. This time, attention is being paid not to his personal life but to his return to the executive board of key affiliates of the nation’s third-largest conglomerate. 　One reason why the chairman’s move is drawing pu

Companies Feb. 22, 2016

　Andrea Baldi, head of the Asia-Pacific region at Lamborghini, makes a presentation of the company and its business before unveiling Huracan LP 580-2 at the launch event in Seoul, Friday. SQDA Motors The yellow colored Lamborghini 580-2, a two-wheel drive version of the Huracan SQDA Motors 　　 Sales of Lamborghini sports cars came to a standstill last year not because of the prolonged economic slowdown in Korea but because of financial difficulties faced by its Korean car dealer Charmzone. 　This

Mobility Feb. 22, 2016

  Kia Motors, the nation’s second-largest carmaker, is ready to debut Niro, its first hybrid sport utility vehicle, in Europe by hosting a media preview event in Frankfurt, Germany, on Wednesday.　Kia plans to officially debut the compact SUV in Europe during the 86th Geneva International Motor Show in Switzerland between March 3 and 13.　Early this month at the Chicago Auto show, the Korean automaker unveiled Niro, developed on the same platform with its sister firm Hyundai Motor’ Ioniq hybrid, f

Business Feb. 18, 2016

 A deal with German luxury carmaker Mercedes-Benz is expected to give a boost to SK innovation’s electric vehicle battery business, analysts said.　SK Innovation, the holding company of SK Group’s energy-related businesses, announced Wednesday that the company had been selected as a lithium ion battery cell supplier for Mercedes-Benz passenger cars. 　It is the fourth major battery deal that SK Innovation has won from a global automaker, following others with Hyundai Motor Group, Beijing Automotiv

Mobility Feb. 17, 2016

Lexus Korea CEO Akihisa Yoshida makes opening remarks during a launch event for the all-new Lexus RX SUVs at the Hotel Shilla in Seoul on Wednesday. Lexus Korea   Lexus Korea will continue to focus on hybrids and SUVs for growth this year, the Japanese carmaker’s chief executive officer said Wednesday. 　“The cheap oil prices are expected to affect sales of hybrid cars in Korea, but the company will continue to expand the lineup of hybrid cars under a mid- and long-term vision,’’ Lexus Korea CEO

Mobility Feb. 17, 2016

   POSCO filed a defamation lawsuit against a former senior company official Monday, a rare move by the nation‘s top steelmaker stressing family values in its corporate culture.An employee passes by the corporate logo of POSCO. Bloomberg　Jeong Min-woo, former leader of external relations who was in charge of dealing with government affairs, has organized a one-person demonstration with a picket reading “Dear President, Save POSCO’’ near the presidential residence in central Seoul, since Feb. 5. 

Industry Feb. 16, 2016