The Korea Herald

New Audi TT hits local market

Audi Korea launched the new Audi TT on the local market on March 21.The updated TT comes with a turbocharger 2-liter TFSI engine that puts out 211 brake horsepower, up 11 brake horsepower from the previous model. Matched with its 6-speed S-Tronic dual clutch automatic transmission, the vehicle manages 11.3 kilometers per liter of fuel. New Audi TTThe vehicle’s upgraded powertrain allows it to reac

Mobility March 27, 2011

Lamborghini offers first marketing promotion

The local sales operation of Italian supercar Lamborghini is offering registration tax-coverage for the Gallardo models, in its first-ever sales promotion event.With the price of the vehicle rising to almost 400 million won ($360,000) on the Korean market, those purchasing the vehicle while the offer lasts stand to gain as much as 30 million won. The Gallardo lineup consists of LP560-4, LP560-4 Sp

Mobility March 27, 2011

Lamborghini offers first marketing promotion

Seoul motor show to reveal Ssangyong, GM Korea’s plans

GM Korea and Ssangyong set for all-out promotion of new brand and visionThe year has yet to enter its fourth month, but 2011 has already been eventful for GM Korea Co. and Ssangyong Motor Co. In January GM Korea began the process of revamping. The company changed its name from GM Daewoo Auto and Technology, and replaced the GM Daewoo brand with that of Chevrolet.While GM Korea sought to sharpen it

Mobility March 27, 2011

Seoul motor show to reveal Ssangyong, GM Korea’s plans

Labor dispute delays Hyundai car production

Disagreements between Hyundai Motor Co. and its union are delaying production at the company’s Ulsan complex, causing shortages in domestic and export demand.According to the company, productivity of the plant producing small vehicles has fallen to about 33.5 percent as workers are refusing to comply with its proposal of moving some of the plant’s workers to other parts of the complex.With a signi

Industry March 25, 2011

POSCO to invest W2.2tr in plants by 2013

POSCO will spend 2.2 trillion won ($1.97 billion) by 2013 on building two new plants and renovating a stainless steel mill, the steelmaker announced Friday. Under the plans, approved by the company’s board of directors Friday morning, POSCO will build a new FINEX facility and a fourth plant producing steel coils at its steelworks in Pohang, North Gyeongsang Province. Developed by POSCO and put int

Industry March 25, 2011

Second son of Hanwha Group head booked with hit-and-run

South Korea's police said Thursday they booked the second son of Kim Seung-youn, chairman of Hanwha Group, after he was allegedly involved in a hit-and-run accident last month.According to Gangnam Police Station, Kim was suspected of hitting a car that was waiting to make a U-turn in the affluent southern part of Seoul on Feb. 27 and then fleeing the scene without reporting the accident to police.

Social Affairs March 25, 2011

9 N. Koreans enter S. Korea on boat

South Korea's Coast Guard said Thursday that nine North Koreans have arrived in South Korea after crossing the Yellow Sea aboard a boat from China in an apparent bid to seek asylum."The Coast Guard is investigating nine North Koreans who claimed to be refugees. They arrived late Thursday at the port of Gunsan after crossing the Yellow Sea (from China)," an official said. The port lies 274 kilomet

North Korea March 24, 2011

Former leaders of Ireland, Norway to travel with Carter to N. Korea: sources

Former Irish President Mary Robinson and former Norwegian Prime Minister Gro Harlem Brundtland are expected to travel to North Korea with former U.S. President Jimmy Carter, diplomatic sources said Thursday.Carter plans to visit the communist nation in about a month to broker rapprochement in relations between Washington and Pyongyang, according to a diplomatic source in Washington. Former U.N. Se

North Korea March 24, 2011

LS Group firms get new English names

LS Group’s LS Cable Ltd. announced Thursday that it had changed its name to LS Cable and System at the previous day’s shareholders meeting.LS Cable and System said that the change was approved as its previous name LS Cable did not sufficiently represent the scope of its operations.The company, the country’s largest producer of cables and wires, has been changing its business model from a supplier

Industry March 24, 2011

Kia exports 10 millionth car

Kia Motors Corp. loaded its 10 millionth vehicle to be exported at the Pyeongtaek Port in Gyeonggi Province on Thursday.The vehicle, a K5 midsized sedan, will be shipped to the U.S. “Today’s achievement was made possible by the efforts of Kia employees and the affection shown by the customers,” Kia vice chairman Lee Hyung-keun said at the ceremony marking the event.The company’s exports began with

Industry March 24, 2011

POSCO to support SMEs for global competitiveness

POSCO announced Wednesday that it would support local small- and medium-sized enterprises to secure competitiveness in the global market.The steelmaker formed a partnership with 28 small- and medium-sized companies to collaborate in developing each of them into a “leading midsized company of global standing” on Wednesday. SMEs that signed on to POSCO’s scheme include industrial equipment makers Se

Industry March 23, 2011

POSCO to support SMEs for global competitiveness

Hyundai taps into Brazil car market

Hyundai Motor Co. launched the midsized truck Mighty in Brazil on Monday, tapping into South America’s largest commercial vehicle market. The Mighty trucks sold in Brazil will be shipped as complete knockdown kits and assembled at CAOA Group’s facility in Anapolis in the state of Goias, the company said.CAOA Group is also responsible for sales of Hyundai vehicles in Brazil.The company has set the

Mobility March 22, 2011

Hyundai supports Meister school system

Hyundai Motor Co. will hire up to 1,000 Meister high school graduates over a 10-year period starting next year.The plans were revealed in a memorandum of understanding the carmaker signed with the Ministry of Education, Science and Technology to collaborate on related issues on Tuesday. Introduced last year, Meister high schools are high-quality vocational schools designed to diversify education a

Industry March 22, 2011

Disasters will not have long-term effect on Japanese economy, Buffett says

DAEGU ― The disasters that struck Japan will not change the economic prospects of the country, Berkshire Hathaway Inc. chief executive Warren Buffett said Monday.Speaking at a press conference held on the sidelines of the groundbreaking ceremony for TaeguTec’s second plant in Daegu, Buffett said that while such adversity leaves effects, they would temporary and limited in the long term.TeaguTec is

Industry March 22, 2011

Disasters will not have long-term effect on Japanese economy, Buffett says

Hyundai Heavy to ship packaged power stations to Japan

Hyundai Heavy Industries Co. will provide four packaged power stations for areas affected by the earthquake and the tsunami in Japan, the Ministry of Foreign Affairs and Trade announced Sunday.Packaged power stations are transportable electricity-generating equipment packaged into 40-feet shipping containers. The packaged power stations will be used to supply power to the cooling system at the dam

Industry March 20, 2011

Hyundai Heavy to ship packaged power stations to Japan

Articles by Choi He-suk