Improving overseas shipments boosted five South Korean carmakers’ sales in February, industry data showed Wednesday.Compared to February 2010, Hyundai Motor Co.’s sales increased by 12.1 percent to come in at just 281,000 units. Hyundai’s overseas sales recorded a year-on-year rise of 14.8 percent, while domestic sales increased by less than 500 units or 0.9 percent.The country’s second largest ca

Industry March 2, 2011

Seoul prosecutors have secured a high-priced painting at the center of a graft scandal involving two former national tax chiefs, a prosecution official said Tuesday.The official said the Seoul Central District Prosecutors' Office has obtained the painting titled "Hakdong Village" by the late abstract artist Choi Wook-kyung. Han Sang-ryule, a former head of the National Tax Service, is accused of p

Social Affairs March 1, 2011

Samsung Electronics Co. announced Tuesday that it won 30 prizes, including two top honors, at an international design exhibition.The South Korean electronics giant said it grabbed 30 awards at the 2011 iF Product Design Award. Organized by the International Forum Design in Hanover, Germany, since 1953, the award recognizes products for their overall design, originality and their consideration for

Industry March 1, 2011

Hyundai Motor Co. and Kia Motors Corp. formed a partnership with the mobile telecom service provider Vodafone to collaborate in telematics and related fields, the South Korean carmakers announced on Monday.Based in London, Vodafone is the world’s largest mobile telecom service provider in terms of revenue.Telematics, which combines telecommunications with informatics, is applied to a range of onbo

Industry March 1, 2011

Ssangyong Motors Co. on Friday posted net profits of 8.1 billion won ($7.2 million) for 2010, marking a return to profit after two years in the red.The company, which recorded net loss of 346 billion won in 2009 and 710 billion won in 2008, said that rising sales and cost-cutting efforts allowed it to return to profit.Last year, the company’s domestic and overseas sales increased by 131.6 percent

Industry Feb. 28, 2011

GENEVA (DPA) ― A stunner at the upcoming Geneva Motor Show is the Abarth 695 Tributo Ferrari ― a tiny super car in red, Scuderia-style stripes, lashings of mesh grille and unique Ferrari badging, and based on the Abarth 500.Built in cooperation with Ferrari, the 1.4-liter turbo motor has an output of 180 horsepower compared to the 135 hp of the standard model with acceleration from zero to 100 km/

Mobility Feb. 27, 2011

STUTTGART, Germany (DPA) ― Porsche is presenting its second hybrid vehicle in the form of the Panamera S Hybrid at the Geneva Motor Show next month with an output of 380 horsepower and a consumption of only 6.8litres per 100 kilometers.Similar to the Cayenne, the Porsche Panamera S Hybrid is fitted with a 3-litre V6 compressor motor delivering 333 hp with the electric motor adding an additional 34

Mobility Feb. 27, 2011

STUTTGART, Germany (DPA) ― Marking its 125th birthday Mercedes is entering for the first time the two-door compact coupe segment with a C-Class Coupe, deploying much of the same technology as in the recently launched C-Class.Tailored to a customer group aged 35-45, “we are consciously targeting new customers,” according to the head of Mercedes Sales and Marketing, Joachim Schmidt.Typical coupe fea

Mobility Feb. 27, 2011

Stuttgart Sports Cars, Korea’s official Porsche importer, is holding a service campaign from March 2 through to March 31.During the period, the company is offering free checkup services at authorized service centers using the German carmaker’s Porsche Integrated Workshop Information System tester.The company is also offering a 10 percent reduction on parts and related labor charges, including tire

Mobility Feb. 27, 2011