BMW has once again reclaimed the top auto importer title in South Korea, for the first time since 2015, by edging out Mercedes-Benz in a duel that came down to the wire. According to the Korea Automobile Importers and Distributors Association’s report released Thursday, BMW sold 77,395 vehicles in the Korean market last year, just 698 more than Mercedes-Benz’s 76,697 sold. As the former took up 28.56 percent of the total market share and the latter accounted for 28.3 percent, the two

Mobility Jan. 4, 2024

Kia has set a new record by selling 3.08 million vehicles across the world last year, Korea’s second-largest automaker said Wednesday. Kia sold 563,660 cars in Korea and 2.51 million vehicles overseas, up 4.6 percent and 6.7 percent on-year, respectively. The automaker’s previous record was 3.04 million units in 2014. Kia’s sport utility vehicles led the company’s record year. The three bestselling models were the Sportage with 523,502 units sold, the Seltos with 344,013

Mobility Jan. 3, 2024

Flying cars have long been a fixture in science fiction movies. For Hyundai Motor Group, the vision of vehicles flying in the air is not just a whimsical idea anymore as the Korean auto giant appears determined to make them a reality in the near future. Supernal, Hyundai Motor Group’s US-based advanced air mobility company, is gearing up to showcase the life-size concept model of its electric vertical takeoff and landing vehicle, or eVTOL, at CES 2024 to be held at the Las Vegas Convention

Mobility Jan. 1, 2024

Employees at major South Korean firms are set to receive different amounts of year-end bonuses, ranging from nothing at all to 30 percent of their annual salaries, depending on the performance of the industrial sector for 2023. Workers in Samsung Electronics’ device solutions division, which is in charge of the company’s chip business, are expected to receive no incentives next year, due to the weak performance of the chip sector, according to industry sources Friday. Over the past

Industry Dec. 29, 2023

The Ministry of Science and ICT said Thursday that the Korean government will invest 100 billion won ($77.6 million) to accelerate research and development efforts in the three major technology sectors -- semiconductors, displays and secondary batteries -- next year to secure key technologies and create new markets. “It is very important to secure original technologies in the three major technologies of semiconductors, displays and secondary batteries as the future growth engines of our ec

Industry Dec. 28, 2023

Hyundai Motor Group’s two auto brands -- Hyundai Motor Company and Kia -- have set a new record by selling some 767,000 hybrid electric vehicles across the world through November this year, the South Korean auto giant said Wednesday. According to the automakers, Hyundai Motor Company and Kia sold 254,258 HEVs in the Korean market, accounting for 21 percent of their total domestic sales during the January to November period. The two companies sold 513,000 HEVs overseas in the same timeframe

Mobility Dec. 27, 2023

Hyundai Motor Group has set its sights on the Southeast Asian region in search of alternative markets outside of China and Russia as the Korean automaker looks to move beyond its heyday in the two state-dominated nations. Hyundai Motor’s Chinese business used to boast upbeat sales of over 1 million units per year with five local manufacturing plants in operation. This came to an abrupt end in 2017 when Beijing took retaliatory actions against South Korean companies in response to Seoul&rsq

Mobility Dec. 26, 2023

Hyundai Mobis will work with US software company Wind River to develop a digital twin system called M.Dev Studio to optimize the future working conditions of crafting auto parts, the South Korean auto parts maker said Monday. M.Dev Studio is expected to offer a virtual space for not only Hyundai Mobis, but also its partners and various research teams to carry out joint projects through simultaneous simulation and remote monitoring as they work on developing core auto technologies and products to

Mobility Dec. 25, 2023

진행자: 간형우, Beth Eunhee Hong All Koreans need for Christmas is ... a cake? 기사 요약: 한국인이 크리스마스날 케익을 찾는 현상과 그 유래 [1] Ever wondered what Koreans most enjoy on their Christmas dinner tables? *wonder: 궁금해하다, 경이로운 것 [2] While the classic yuletide meal of turkey and stuffing are hard to find and there's no specific Korean Christmas dish, people often turn to a special treat enjoyed on other special occasions: cakes. *yuletide: 크리스마스 계절 [3] Sharing a cake after a Christmas meal, which could be any

Podcast Dec. 25, 2023

진행자: 간형우, Beth Eunhee Hong Half of Koreans could be over 65 by 2072 기사 요약: 출산율 반등해도 2072년 한국엔 65세 이상 고령인구가 절반 이상이라는 통계청 예측 [1] South Korea could see a more than 40 percent decline in its population in 50 years' time, with half of its people aged over 65, a recent report released by Statistics Korea showed. *decline: 감소, 하락하다, 사양하다 [2] The worst-case scenario in the agency’s projections for the country’s population between 2022-2072 forecast the nation's population would

Podcast Dec. 21, 2023

Hyundai Motor Group promoted 252 executives on Wednesday, the largest upper-level promotion ever in the company’s history, on the back of its record-high earnings this year as it looks to find future mobility leaders. Hyundai Motor said the promotions focused on preparing for the future as it speeds up its generational shift in leadership. Among the promoted, there are 197 newly appointed executives, of which some 38 percent are in their 40s. The conglomerate's proportion of those in their

Mobility Dec. 20, 2023

Hyundai Motor Group said Tuesday it has decided to sell its entire shares of its car manufacturing plant in Russia, which has been temporarily shut down because of Russia's invasion of Ukraine, to a Moscow-based company, ending a decadelong operation. The carmaker’s board of directors approved selling Hyundai Motor Manufacturing Russia in St. Petersburg, along with a General Motor plant it acquired in 2020 to the Russian automotive service firm Art-Finance. “We have reviewed var

Mobility Dec. 19, 2023

Hyundai Motor Group said Tuesday that it has donated 35 billion won ($26.8 million) to Community Chest of Korea, a nonprofit organization and state-sanctioned charity. The South Korean auto conglomerate has taken part in CCK’s year-end campaign for helping the underprivileged since 2003. Hyundai Motor said it increased this year’s donations by 10 billion won. According to the company, the auto giant’s accumulated amount of donations reached 394 billion won as of this year. &ldq

Mobility Dec. 19, 2023

South Korean battery and energy firms that have already built production sites in the United States are expected to receive tax credits from the US Inflation Reduction Act, Korea's Ministry of Trade, Industry and Energy said Friday. The US Department of Treasury earlier unveiled proposed guidelines for manufacturers looking to receive consumer tax credits for making eco-friendly energy components such as batteries for electric vehicles and solar panels. The incentive, named the Section 45X Advan

Industry Dec. 15, 2023

Hyundai Motor's all-electric compact sports utility vehicle, the Kona Electric, will continue to be eligible for cash incentives offered by the French government to buyers of electric vehicles. Paris on Thursday released a list of 78 EVs from 22 brands eligible for the government incentives. According to the announcement, Kona was the only Korean vehicle that remained eligible, whereas Kia’s two hybrid vehicles -- the Niro and Soul -- were excluded from the list. The new eligibility l

Mobility Dec. 15, 2023