The Korea Herald

Kia aims to dominate city car market

No. 2 carmaker releases new Morning with upgraded safety, convenience featuresJEJU ― Kia Motors Corp. launched the latest version of its Morning city car on the local market Monday.The company aims to sell 100,000 units on the domestic market and 120,000 units overseas this year.From next year, the company hopes to raise the overseas figure by 20,000, pushing up the overall sales figure to 240,000

Industry Jan. 24, 2011

S. Korea expected to bring captured pirates to Seoul for trial: official

The five Somali pirates captured alive by South Korea's navy commandos during a mission to rescue a hijacked cargo ship in the Arabian Sea are expected to be brought to Seoul for a trial here, a senior government official said Sunday."At first, we have been in consultations with neighboring countries (of Somalia) on how to hold them accountable. Unless that option is available, we will bring them

Politics Jan. 24, 2011

S. Korea expected to bring captured pirates to Seoul for trial: official

Prices turn drivers away from hybrids

Despite the hype from carmakers and the government’s drive to popularize eco-friendly vehicles, South Korean motorists remain lukewarm toward hybrid electric vehicles.According to industry statistics, less than 8,700 hybrid electric vehicles were sold here in 2010, accounting for less than 0.56 percent of the overall market. Of the 11 hybrid electric models available in Korea, Hyundai Motor Co.’s

Mobility Jan. 24, 2011

Russia's chief nuclear envoy on N.Korea to visit Seoul this week

Russia's chief negotiator for the long-stalled talks on North Korea's nuclear weapons program will visit South Korea this week, Seoul's foreign ministry said Sunday, the latest in a flurry of diplomacy aimed at seeking ways to resume the six-party negotiations.Russian Deputy Foreign Minister Alexei Borodavkin will arrive in Seoul on Friday and hold talks with his South Korean counterpart Wi Sung-l

North Korea Jan. 23, 2011

Samsung Heavy develops system to fend off pirates

Samsung Heavy Industries announced Sunday that it has developed a high-tech anti-pirate system providing enhanced security for ships sailing through danger zones.The system includes remotely controlled water cannons, night vision and an advanced radar system.The shipbuilder said the system will be fitted as standard equipment in all ships built at its yard in Geoje, South Gyeongsang Province.The n

Industry Jan. 23, 2011

Kia’s global share hits record

Kia Motors Corp. saw its global market share come to 2.9 percent, the highest ever for the company, in 2010, industry data showed Sunday.According to the carmaker, it sold about 2.09 million units ― about 485,000 units domestically and 1.605 million units overseas ― in 2010. Comparing the figure to the world market volume of 71.35 million units calculated by J.D. Power and Associates, Kia’s global

Industry Jan. 23, 2011

Daimler launches new cargo truck

Daimler Truck Korea launched the cargo truck Actros on the local market Thursday. With the new truck, Mercedes-Benz is entering the country’s market for large cargo trucks, which accounts for about 60 percent of large truck sales, for the first time. ActrosThe truck is equipped with a V6 engine that puts out 476 brake horsepower, and has been designed for use in various functions including transpo

Mobility Jan. 23, 2011

Mitsubishi plans 8 eco-friendly cars by 2015-16

TOKYO (DPA) ― Mitsubishi Motors Corp. plans to launch eight models of electric cars and plug-in hybrids by the financial year that ends in March 2016, the Japanese carmaker said Thursday.The strategy includes the introduction of hybrid vehicles in the 2013-14 financial year, said Mitsubishi, which produces an electric hatchback but has yet to introduce hybrid models.It plans to also expand its lin

Mobility Jan. 23, 2011

Subaru launches 2011 Forester

Subaru Korea launched the 2011 Forester compact sport utility vehicle on the local market last Monday.In addition to the usual upgrades seen in model year changes, the new Forester is fitted with the third-generation Boxer engine. 2011 ForesterIn Subaru’s Boxer engine, the pistons are arranged and move horizontally, as opposed to the up and down movement of an inline engine, which according to the

Mobility Jan. 23, 2011

Lexus showroom opens in Ilsan

Chunwoo Motors, Toyota Korea’s Lexus dealer for the Yongsan area of Seoul, opened a Lexus showroom in Ilsan-gu, Goyang in Gyeonggi Province on Thursday.The company said that the new showroom will strengthen its sales network in northern Gyeonggi Province including Ilsan and Paju. The showroom is located on the ground floor of a three-story building that includes office space, and a service stall t

Mobility Jan. 23, 2011

Renault Samsung offers free Seolnal checkup

Renault Samsung Motors Co. will be operating vehicle checkup points at 14 rest stops on expressways from Feb. 1 to 6 between 9 a.m. and 5 p.m. for those traveling during the Seolnal, Lunar New Year, holiday.The checkup points offer general checkups free of charge, and replacements for various parts and components. Mechanics stationed at the checkup points will also provide tips on vehicle maintena

Mobility Jan. 23, 2011

Daewoo cars history as GM Korea switches to Chevrolet

The Korean unit of General Motors plans to remove the badge of “Daewoo” from its company name and new domestic releases as it seeks to improve image and boost sales. GM Daewoo Auto and Technology Co. announced Thursday it will change its name to GM Korea Company and replace the GM Daewoo brand with the Chevrolet brand.“The actions we are about to take will take the company to a stronger, sustainab

Industry Jan. 20, 2011

Daewoo cars history as GM Korea switches to Chevrolet

Hyundai, Kia make early payments to suppliers

Hyundai Motor Co. and Kia Motors Corp. announced Thursday that about 850 billion won ($760 million) owed to suppliers will be paid ahead of the due dates.The carmakers said that the payments will be made starting Jan. 26 to ease suppliers’ cash flow ahead of Seollal, or the New Year according to the lunar calendar. According to the carmakers, about 1,200 companies supplying parts and materials wil

Industry Jan. 20, 2011

POSCO finalizes ferrochrome deal with Indian firm

POSCO announced Thursday that it finalized a deal to establish a joint venture producing ferrochrome with an Indian company.Ferrochrome is an alloy of chromium and iron used in stainless steel production. POSCO’s partner in the venture is Indian Metals and Ferro Alloys (IMFA), India’s biggest ferrochrome manufacturer. According to POSCO, Thursday’s deal finalizes agreements regarding a joint ventu

Industry Jan. 20, 2011

Hyundai Heavy wins W1.14tr drillship contract

Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to build two drillships for 1.14 trillion won ($1.03 billion) for the U.S.-based contract driller for gas Noble Drilling.Drillships are specialized vessels fitted with drilling equipment used in gas and oil exploration in offshore locations. With the latest contract, Hyundai Heavy has been awarded all three contracts for dr

Industry Jan. 19, 2011

Articles by 최희석