South Korea's top carmaker Hyundai Motor Co. said Friday it is recalling nearly 600,000 cars sold in the United States for faulty parts.Hyundai Motor America plans to recall 437,400 Santa Fe SUVs and161,000 midsize Sonata and luxury Genesis sedans for problems with hood latches and parking brake warning lights, the company said, confirming the announcement by the National Highway Traffic and Safety Administration (NHTSA). (Yonhap)There have been no reported accidents or injuries related to the f

Industry June 9, 2017

South Korea is expected to face difficulty in achieving an annual economic growth of 3 percent in the coming years as consumption is crimped by the aging population and rising household debts, a Bank of Korea board member said Friday.Cho Dong-chul also voiced worries that the country's economy could move in the direction of the long-drawn slump seen by Japan in the 1990s.The central bank has predicted that the nation's economy could grow 2.6 percent this year, compared with 2.8 percent growth re

Economy June 9, 2017

Korean Air Lines Co.'s passenger jet made an emergency landing at an airport in southern Japan due to smoke in the cockpit, the company said Friday.There were no injuries or damage caused by the incident, the Korean flag carrier said in a statement.The B737-900 jet left the port city of Busan at 09:11 a.m. and was expected to arrive at Fukuoka on Kyushu Island at 10:31 a.m. This captured image from Japan`s largest broadcaster NHK shows fire trucks and Korean Air Line`s B737-900 jet at Fukuoka ai

Industry June 9, 2017

Hankook Tire Manufacturing Co., the world's seventh-biggest tiremaker by sales, said Friday it has begun exclusively supplying threads for BMW's M4 GT4 racing car.BMW Motorsport has selected Hankook Tire's Ventus Race tires as original equipment (OE) for the M4 GT4 equipped with a 3.0-liter turbo engine and a seven-speed dual-clutch transmission, the company said in a statement.The new BMW M4 GT4 made its debut in the ADAC Zurich 24-hour race at the Nurburgring in Germany last month, running on

Mobility June 9, 2017

SsangYong Motor Co.'s new G4 Rexton SUV displayed solid driving characteristics and comfort on the road Friday, as the carmaker expands its lineup of off-road capable passenger cars.  In a mix of urban, motorway and off-road driving that covered 120 kilometers, the G4 Rexton SUV proved itself as a capable and very stable performer helped by its sturdy body-on-frame architecture referred to as "Quad Frame" and 20-inch threads.Even at speeds hitting 140 kph on the motorway, wind and road noise lev

Mobility June 9, 2017

South Korean pharmaceutical companies are poised to release a series of important drugs in the second half of this year that could change the existing market, industry sources said Friday. Kolon Life Science's Invossa, a gene drug for osteoarthritis, will receive an approval from the Ministry of Food and Drug Safety later this month at the earliest, according to sources. This would make it the world's first medicine for the degenerative joint disease.  This file photo taken on Aug. 23, 2016, sho

Industry June 9, 2017

South Korea's nuclear safety commission said Friday that it has decided to permanently stop operations of an aged nuclear power plant located in the southeastern region of the country. South Korea`s Gori nuclear power plant in northern Busan (Yonhap)The closure of the Gori-1 nuclear power plant will be effective from June 19 and its disassembling process will start in earnest from 2022, the Nuclear Safety and Security Commission said after a meeting.It is one of the oldest nuclear power plants i

Industry June 9, 2017

South Korean stocks traded higher late Friday morning, setting a new record during the session.The benchmark Korea Composite Stock Price Index (Kospi) shot up 19.92 points, or 0.84 percent, to 2,383.49 as of 11:20 a.m.The figure reached 2,384.21 at one point, setting a new record in terms of during-session numbers.Tech shares continued to gain ground, with Samsung Electronics advancing 2.66 percent and No. 1 chipmaker SK hynix advancing 2.29 percent.Top portal operator Naver also shot up 5.73 pe

Market June 9, 2017

South Korean venture firms on Friday welcomed the government's plans to establish a new ministry supporting small and medium-size startups, expressing hope that the new entity will concentrate on technology and growth potential rather than sales and financial stability in rendering assistance.During the election campaign, President Moon Jae-in pledged to launch a ministry-level government entity dedicated to championing local small and medium enterprises (SMEs) to help create jobs and better cop

Industry June 9, 2017

South Korea's major hospitals are serving special meals for foreign patients as a growing number are receiving treatment in the country, observers said Friday.Kyunghee University Hospital in Gangdong, southeastern Seoul, held a gathering Friday showcasing a different variety of meals for Russian patients that featured menus for diabetic and gastrectomized patients, and meals for those who want traditional Korean food.(Yonhap)South Korea became the third most popular destination for Russians goin

Industry June 9, 2017

An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday."The South Korean economy has been on a upside cycle thanks to a steady rise in outbound shipments, while the domestic side is showing weak signs of recovery due to production and investment adjustment," the finance ministry said in its monthly econ

Economy June 9, 2017

North Korea on Thursday dispatched a delegation to a United Nations meeting on the rights of the disabled to be held in New York next week, the country's state-run news agency said."A DPRK delegation led by Ri Hung-sik, ambassador of the Foreign Ministry, left here (Pyongyang) to take part in the 10th session of the conference of state parties to the Convention on the Rights of Persons with Disabilities to be held in New York of the United States," the Korean Central News Agency said in a brief

North Korea June 8, 2017

China urged North Korea not to escalate tensions after the country launched what are believed to be several cruise missiles."Under the current environment, the countries concerned should not provoke each other or take any action that could escalate regional tensions," China's foreign ministry spokeswoman Hua Chunying said in a briefing. "The countries should make joint efforts to ease tensions and work toward regional stability," she also said.  China`s foreign ministry spokeswoman Hua Chunying

North Korea June 8, 2017

Kia Motors Corp. on Thursday launched an upgraded K3 subcompact to attract customers with more features and simplified trims.The 1.6-liter K3 subcompact went on sale in the domestic market earlier in the day, the country's second-biggest carmaker said in a statement. Kia`s K3 subcompact (Courtesy of Kia Motors) (Yonhap)Kia reduced the number of trims of the diesel-powered K3 to four from six and of the gasoline version to three from six. It added improved features such as 16-inch alloy wheels an

Mobility May 18, 2017

Hyundai Motor Co. has launched the hybrid version of its latest Sonata sedan to diversify its lineup, the company said Thursday. The Sonata New Rise Hybrid went on sale earlier in the day in the domestic market with a lifetime battery warranty, 10-year/200,000-kilometer warranty on parts for hybrid vehicles and a guarantee of 62 percent of its value after three years, Hyundai said in a statement.  Hyundai`s Sonata New Rise Hybrid (Courtesy of Hyundai Motor) (Yonhap)The 2.0-liter hybrid sedan mat

Mobility May 18, 2017