Amid a steady shift in South Korean drivers’ preferences, imported car makers in the local auto industry continue to expand their presence, with Toyota Korea and Jaguar Land Rover Korea becoming the latest to each post over 1 trillion won ($887.8 million) in earnings, industry figures showed Thursday. This the first time that imported car makers besides the three German-based automakers, Mercedes-Benz Korea, BMW Korea, Audi Volkswagen Korea, have earned more than 1 trillion won here. The three G

Mobility July 12, 2018

SsangYong Motor, the local unit of Indian automaker Mahindra & Mahindra, said Wednesday it will continue to gradually reinstate former employees in line with a consensus reached with its union in 2015. On the sidelines of President Moon Jae-in’s state visit to India, Moon urged Anand Mahindra, chairman of Mahindra Group, to reinstate SsangYong Motor assembly workers laid off during the carmaker’s restructuring in 2009.Mahindra responded that SsangYong Motor, which is guaranteed independent manag

Mobility July 11, 2018

Hyundai Motor, South Korea’s No. 1 automotive company, has signed a memorandum of understanding with Chinese tech firm Baidu to boost cooperation on connectivity technology in a bid to ramp up demand from young Chinese drivers and its future mobility technology, the company said Tuesday. The signing follows shortly after Hyundai agreed to participate in Baidu’s self-driving project Apollo at the CES Asia 2018 in June. This time, the two agreed to “take their partnership to another level” by maki

Mobility July 10, 2018

Hyundai Glovis’ outside director for shareholder rights protection will be present at the company’s non-deal road show held for major institutional investors overseas in Singapore and Hong Kong this week, the company said Monday.The latest move comes amid Hyundai Motor’s groupwide efforts to improve communication with the market, and as Glovis struggles to see its stock value rebound. Hyundai Glovis, the logistics unit of Hyundai Motor Group, had been at the center of the group’s spinoff merger

Industry July 9, 2018

S-Oil delivered 100 million won ($89,900) to young entrepreneurs operating food trucks across the country via a newly launched program, the company said Monday. The 40 teams -- 25 from metropolitan regions and 15 from elsewhere -- were selected to receive oil gift certificates worth 2 million won each.  S-Oil CEO Othman al-Ghamdi (center) poses with young entrepreneurs selected to each receive 2 million won in oil gift certificates in Yeouido, Seoul, Monday. (S-Oil)Food truck entrepreneurs under

Industry July 9, 2018

The popular Chevrolet Equinox sport utility vehicle, GM Korea’s second model to be introduced here since the business normalization of the local unit, was unveiled at the Busan Motor Show last month, with the task of recovering the automaker’s local sales.The Equinox was met with mixed market reactions, with some customers here expressing dissatisfaction over the higher-than-expected price tag of the midsize SUV, to which GM Korea Vice President Dale Sullivan replied, “I challenge you and everyo

Mobility July 9, 2018

SK Innovation, South Korea’s leading oil refiner, has bolstered its value and profit model with a desulfurization project underway in Ulsan and its ultra-low sulfur production business in Singapore, before stricter environmental regulations by the International Maritime Organization go into effect in 2020, industry experts said Sunday. The International Maritime Organization passed a regulation in 2016 to limit the amount of sulfur in ship fuel to 0.5 percent starting January 2020 from the curre

Industry July 8, 2018

Desertification and the consequent level of air toxicity in nearby countries have had their impact on South Korea, forcing schools to close for several days and deterring citizens from outdoor activities. Under a long-term goal to tackle such climate concerns, Seoul’s government is determined to contribute to the global community‘s blueprint to fight desertification and drought, according to the chief of the country’s forest service.“I believe that we can help create global consensus that forest

Industry July 5, 2018

Hyundai Motor, South Korea’s No. 1 automotive company, is tapping into Australia’s car sharing market by developing a mobile app to replace car keys, together with Australian peer-to-peer car rental company Car Next Door, it said Wednesday.Hyundai and Car Next Door will roll out a mobile app dubbed “Hyundai Auto Link” that works as a car key and turns the engine on and off, by 2020 at the earliest, the company said.The app will enhance convenience for users of the P2P car rental service, allowin

Mobility July 4, 2018

Posco Daewoo, the energy development unit of steelmaker Posco, will conduct medical volunteer work helping about 1,000 residents in Indonesia, the company said Wednesday.Together with 20 Korean and local medical staff, some 40 employees of Posco Daewoo will provide health check-ups and health education to residents in Indonesia’s eastern province Papua until July 8.Volunteers will provide education on pregnancy and other topics, the company said. Employees of Posco Daewoo support medical volunte

Industry July 4, 2018

Hyundai Motor and Kia Motors, South Korea’s two leading automotive firms, are expected to record a drop in second-quarter earnings this year due to slowing demand in China and the US on top of uncertainties surrounding a global trade war, industry data showed Tuesday.According to data compiled by market researcher FN Guide, Hyundai Motor’s operating profit for the second quarter is projected to slide 22.3 percent on-year to 1.04 trillion won ($928 million), while its earnings will drop 0.6 perce

Mobility July 3, 2018

Hyundai Motor, South Korea’s leading automaker, has become the first carmaker here to receive a temporary permit to test truck platooning, the Ministry of Land, Infrastructure and Transport said Tuesday.Through the latest test drives, Hyundai is seeking to develop autonomous logistics delivery trucks. Hyundai Motor's self-driving truck (Ministry of Land, Infrastructure and Transport)Hyundai’s self-driving trucks will mostly run on local highways bound for the Incheon port, such as Youngdong high

Mobility July 3, 2018

Just months after the US surprised trading partners with steel and aluminum tariffs, US President Donald Trump over the weekend reaffirmed his push to slap a 25 percent tariff on imported vehicles under Section 232 of the Trade Expansion Act. Trump‘s latest push to implement higher tariffs of 25 percent from the current 2.5 percent has ignited a trade war, intensifying opposition and woes from the global auto industry. Export-dependent South Korean automakers and government officials have approa

Mobility July 2, 2018

LUXEMBOURG -- Mercedes-Benz’s No.1 best-selling model worldwide, the new C-Class is back with a revamped design, engine and safety systems, three years after the release of the fifth generation. Out of nearly 12,000 components that make up the car, some 6,500 parts have been replaced, making the latest face-lift the most extensive for the C-Class so far, amid increasing competition with rivals in BMW’s 3-Series, Audi S4 and Volvo S60. Mercedes-AMG C 43 coupe (Mercedes-Benz Korea)Members of the m

Mobility July 1, 2018

LUXEMBOURG -- Introduced to South Korean drivers in 2003 with the setup of Mercedes-Benz Korea, the German luxury carmaker’s C-Class lineup has since become one of Korea’s most preferred import cars.The first C-Class introduced here was the 203 series equipped with the carmaker’s then-most innovative technology, the Sequentronic automated six-speed transmission.The roots of the globally popular lineup dates back to 1982 when the 190 model was launched as the first of the 201 series, categorized

Mobility July 1, 2018