HDC Hyundai Development on Tuesday said it hopes to renegotiate its deal for acquiring South Korean flag carrier Asiana Airlines given the business turmoil caused by the COVID-19 pandemic. The midsized South Korean builder has requested Asiana’s creditors and its largest shareholder Kumho Industrial to modify the conditions of the takeover. The company said it has not received “sufficient and trustworthy data” about Asiana’s financial status or an explanation for the c

Mobility June 9, 2020

Hyundai Motor Group said Monday that with the launch of new models and shifting consumer tastes seeking more driving comfort, sales of its sedans recorded a three-year high.  According to South Korea’s largest automaker, sedans accounted for 48.5 percent of total passenger car sales in the January-May period, the highest figure since 2017, when it hit 50.1 percent.  In 2018 and 2019, sedan sales during the first five months accounted for 43.8 percent and 43 percent, respective

Mobility June 8, 2020

Hyundai Motor Group announced Monday that it will provide its sales and auto parts dealerships 55.7 billion won ($46 million) in subsidies to stabilize their operations amid the COVID-19 pandemic. Auto dealerships of its main affiliates -- Hyundai Motor, Kia Motors and Hyundai Mobis -- will be given the subsidies to help them overcome the economic downturn. The size is a 70 percent increase from last year’s funding. Some 1,860 Hyundai Motor and Kia Motors dealerships across the country

Mobility June 8, 2020

Betting big on the South Korean market with a focus on superior customer service, Volvo Cars Korea has introduced a lifetime auto parts warranty here -- the first such guarantee by a carmaker here -- while vowing to increase its network by 25 percent. “The introduction of lifetime warranty will dramatically decrease consumer concerns over the maintenance cost of an imported vehicle, as well as enable them to enjoy the attractive features of our vehicles for a long time,” said Volvo

Mobility June 8, 2020

SK Group, South Korea’s third-largest conglomerate by revenue, has been reviewing to invest some 94.2 billion won ($78 million) for a 10 percent stake in Asia’s largest low-cost carrier Air Asia, after the Korean conglomerate was recently approached by the firm, industry sources said Friday.  SK Southeast Asia Investment Corp., the group’s investment arm operating in the region, recently received a proposal from the Malaysian-flagged Air Asia to make an investment for a

Mobility June 5, 2020

Korean air carriers that have been gradually starting to resume their international routes amid slower spread of COVID-19 are facing hurdles to operating China routes over authorities’ strengthened landing conditions, according to industry sources on Friday.  According to full service carrier Korean Air, it had planned to operate 32 out of 110 international routes from June. Those routes include flights to Chinese destinations Beijing, Shanghai, Guangzhou and Qingdao, flying three t

Mobility June 5, 2020

Han Sung Motor, an official local dealer of Mercedes-Benz in Korea, said Thursday it will offer customers free and unlimited service for changing engine oil and oil filter.  The promotion applies to those who purchase a new car from Han Sung Motor in June, regardless of models or trims including Mercedes-AMG lineup.  Through the promotion, customers can enjoy engine oil and oil filter change service at Han Sung Motor’s 20 service centers across the country, even after the offi

Mobility June 5, 2020

South Korean air carriers including Korean Air and Asiana Airlines have extended unpaid leave for foreign pilots amid slowing recovery of the aviation industry after COVID-19, companies said Thursday.  Korean Air said it had extended the unpaid leave period for all 376 of its foreign pilots to the end of July, a month longer than previously planned. They have been away from work since April.  “As the situation shows no sign of abating, we had to extend the unpaid leave period.

Mobility June 4, 2020

Hyundai Motor Group said Thursday that it has unveiled a digital content for its global hydrogen campaign in collaboration with K-pop group BTS.  The footage was specially designed to give millennials a better understanding of hydrogen as a future energy source, the company said.  The 1 minute, 28 second video titled Positive Energy features BTS and the company’s hydrogen-powered sports utility vehicle Nexo to deliver the message, “A small drop of water for a better futu

Mobility June 4, 2020

Audi Volkswagen Korea said Wednesday it has launched four new models each of its premium midsized sedans Audi A4 and Audi A5. The new Audi A4 is the fifth-generation face-lifted model and comes in different versions -- A4 40 TFSI, A4 40 TFSI Premium, A4 35 TDI Premium and A4 40 TDI Quattro Premium -- depending on the engine type. The gasoline engine model, TFSI model, exerts up to 190 horsepower and torque of 32.6 kilogram meters.  The two TDI diesel engine models, TDI Premium and TDI Q

Mobility June 3, 2020

The Korea Automobile Journalists Association said Wednesday it has selected compact sport utility vehicle Renault Captur as car of the month.  The association has been selecting the best model each month among new vehicles and face-lifted versions that were launched within a month, based on five criteria including exterior, interior design, practicality, safety and comfort features, product marketability and purchasing intent.  For the car of the month in June, Audi Q3 and Porsche 9

Mobility June 3, 2020

South Korean air carriers that had planned to resume flights to the US this month amid the slow spread of COVID-19 are cautious and taking a “wait and see” approach due to growing protests in the US over the death of an African American man in police custody, according to industry sources Tuesday.  Protests against the death of George Floyd and police brutality have spread to over 100 cities since last week.  The country’s flag carrier Korean Air’s flight dep

Mobility June 2, 2020

Volvo Truck Korea said Tuesday that Park Kang-seok, who is in charge of its aftermarket business as an executive director, has been appointed its new CEO.  Park joined Volvo Truck Korea’s service division in 2006 and has led its service and retail network in Gyeongsang Province since 2014.  He has contributed to increasing competitiveness of the company’s core cargo business and rejoined the aftermarket business division last year to offer a differentiated service for cu

Mobility June 2, 2020

GM Korea said Monday that it sold a total of 24,778 vehicles in May, while sales of sport utility vehicles such as the Chevrolet Trailblazer, Equinox and Traverse rose by 43.1 percent on-year. The automaker said of the 24,778 sold, 5,993 units moved domestically, while 18,785 units sold abroad.  Subcompact car Chevrolet Spark led May sales with 2,065 units, the company said. A monthly high of 822 Chevrolet Malibu vehicles sold in May. Compact SUV Trailblazer, which the automaker has been

Mobility June 1, 2020

SsangYong Motor said Monday it has sold an after sales service center located in Guro-gu in Seoul for 180 billion won ($146 million), as part of its efforts to improve its fiscal health.  The automaker said by selling noncore assets, it will continue to secure liquidity and focus on increasing competitiveness for product development.  In the first quarter this year, its net loss expanded to 193.5 billion won over the economic impact of the COVID-19 outbreak. Its operating loss came

Mobility June 1, 2020