Multinational drug companies are installing young and aggressive leaders to head their Korean operations in an increasingly competitive local market. Ranga Welaratne, 38, was appointed on Jan. 3 as the new head of the Korean branch of Sanofi-Pasteur, Sanofi-Aventis group’s vaccine division, becoming the latest CEO in their 30s to 40s to lead a multinational pharmaceutical firms’ Korean branch. Hav

Industry Jan. 10, 2011

GM Korea is offering a number of special deals with the CTS, SRX and STS until the end of the month.For the CTS 3.0, the company is offering a choice between a 2 percent discount and a lease financing program that allows the buyer to pay 65 percent of the vehicle’s price at the end of a 36 month period with 30 percent paid up front. Cadillac SRXFor SRX models, buyers can pick between a zero-intere

Mobility Jan. 9, 2011

Chrysler Korea is cutting the price of 300C vehicles by 19 percent during January to mark the brand’s launch here 19 years ago.Chrysler vehicles were first imported to Korea through official channels in 1992, and Chrysler Korea was established in 1996.As part of the celebrations, the company is offering a 19 percent discount on 300C vehicles to those making the purchase in cash.The 300C models ran

Mobility Jan. 9, 2011

Subaru Korea is offering a choice between tax coverage and special lease financing programs until the end of the month.Those buying the Legacy Sedan or the Outback during the period can choose between coverage for the 2-percent acquisition tax and a 36-month lease financing program.LegacyWith the New Forester, the company is also offering a 1 million won ($890) gift voucher in addition to the fina

Mobility Jan. 9, 2011

 Ford Motor Co., playing catch-up in the battery-powered car market, introduced its first electric car and promised it will outperform rivals.Ford, the first U.S. automaker to offer a gasoline-electric hybrid, will start selling an all-electric version of its Focus compact car late this year. The Focus Electric’s introduction follows last year’s debut of Nissan Motor Co.’s battery-powered Leaf and

Mobility Jan. 9, 2011

Hyundai Motor Co. announced Thursday that its Indian operation’s sales and production figures came in at above 600,000 in 2010 for the first time since its first plant went online in 1998.The company’s Indian unit, Hyundai Motor India, began producing vehicles in 1998 with an annual production capacity of 300,000 units. Hyundai’s i20The company currently has two 300,000-unit plants in India.Accord

Mobility Jan. 6, 2011

STX Energy signed an agreement to collaborate in building two coal-fired power plants with the Korea East-West Power Co. on Thursday.Under the agreement, the companies will build two 500 megawatt power plants in Donghae, Gangwon Province with an estimated cost of 2 trillion won ($1.78 billion). The first of the two plants is scheduled to go into operation in December 2014, while the second plant i

Industry Jan. 6, 2011

Newly confident carmaker readies all-Chevrolet lineup for 2011 GM Daewoo Auto and Technology is pushing for a new branding strategy which could see it attaching the Chevrolet brand to all its new vehicles this year. The bold move reflects its newfound confidence from debt repayment and improved performance but has gotten mixed reactions from market watchers.The Korean unit of the U.S. auto giant p

Industry Jan. 5, 2011