Hyundai Motor Group said Monday that sales of its cars in Western Europe have surpassed that of Japanese rivals Toyota Motor and Honda Motor over the last 7 1/2 years. Its auto affiliates -- Hyundai Motor and Kia Motors -- sold 552,701 cars in the January to June period, about 70,000 more than those sold by Toyota and Honda. The two carmakers together make up roughly 6 percent of all automobiles sold in Western Europe.In the first half of this year, the combined sales of Hyundai and Ki

Mobility Sept. 2, 2019

South Korean retail giant Lotte Group said Monday it has sold its entire stake in Burger King Japan Holdings, nine years after it acquired the fast-food franchise. According to the Financial Supervisory Service, Lotte Group has sold its stake to Hong Kong-based private equity firm Affinity Equity Partners, the largest shareholder of Burger King Korea.  While the exact price of the sell-off has not been revealed, industry sources said the deal could be worth around 10 billion won ($8.26 mill

Industry Sept. 2, 2019

A dispute between major South Korean battery manufacturers was taken up a notch Friday with SK Innovation revealing counter lawsuits against LG Chem in the US over alleged violation of patents for electric vehicle battery technology. The move comes four months after LG Chem filed a lawsuit with the Delaware District Court in April, accusing SK Innovation in the US of making batteries by using technologies leaked from former LG Chem employees who were hired by SK. SK Innovation said in

Industry Aug. 30, 2019

Volkswagen plans to launch five more models of sport utility vehicles in Korea by 2020 to bolster its SUV lineup, the head of the automaker said Thursday.Amid increasing demand for larger multipurpose SUVs here, the company will relaunch its bestselling model Tiguan in October and the third-generation Touareg in November.The compact SUV T-Roc, large SUV Teramont and upgraded seven-seater Tiguan Allspace will be launched next year, completing the German carmaker’s SUV lineup here with vario

Mobility Aug. 30, 2019

An American shopper looks aty Orion’s corn soup-flavored snack Kkobuk Chip, marketed as Turtle Chips in the US, in a Costco store. The South Korean snack and confectionary company said sales of Kkobuk Chip will begin at Costco’s 20 main branches including the San Fransisco store, and expand distrubtion to other major retailers including Sam’s Club and Walmart. (khnews@heraldcorp.com)

Industry Aug. 29, 2019

South Korean carmaker Hyundai Motor Group on Thursday unveiled two new mass-produced commercial vehicles, midsized truck Pavise and electric bus County EV, under a plan to complete its commercial vehicle lineups by 2025. In 2017, Hyundai Motor has introduced its first-ever zero emission electric bus, called Elec City, and test-operated it during the 2018 Pyeongchang Winter Olympics. According to Hyundai Motor, it plans to release 17 types of eco-friendly commercial vehicles by 2025, un

Mobility Aug. 29, 2019

Anseong, GYEONGGI PROVINCE -- BMW’s Regional Distribution Center in Anseong, Gyeonggi Province, can be described as an automotive version of Amazon’s warehouses. It opened in 2017 to facilitate auto parts supply for customer satisfaction. Piles of cardboard boxes of different sizes are stacked on shelves at the BMW RDC, where approximately 20,000 lines, or auto parts, are sent daily to dealerships nationwide. Each employee works with a handy scanner, moving on personal cart

Mobility Aug. 28, 2019

Hyundai Motor Group unveiled Tuesday a prototype of a foldable electronic scooter that can be charged by using electricity from Hyundai and Kia Motor vehicles.According to Hyundai Motor, the latest e-scooter will be built into Hyundai and Kia Motor vehicles and can be automatically charged by using electricity generated from driving a vehicle. Hyundai’s e-scooter runs on a 10.5Ah lithium-ion battery, allowing a 20 kilometer range on single charge. The top speed will be 20 kilometers per ho

Mobility Aug. 27, 2019

Hyundai Glovis, the logistics arm of Hyundai Motor Group, said Tuesday that it has opened a logistics office in Chongqing, central China, to expand its base in the mainland. By opening an additional office there, the company said it has secured a total of 14 logistics points in China, including offices in Beijing, Shanghai and Shenzhen.According to the company, Chongqing serves as a major industrial base, as the Trans-China Railway en route to European countries including Germany passes thr

Industry Aug. 27, 2019

Swedish carmaker Volvo’s third-generation midsized premium sedan the New V60 launched in South Korea on Tuesday, billed by the company as a reasonably priced model with an iconic Scandinavian design.The carmaker said the New S60’s exterior had been completely redone for the first time in eight years. Its vertically arranged front grille and Thor’s hammer-style LED headlights give the New S60 a stronger, bolder and sportier look, the firm said.Compared with its predecessor, the

Mobility Aug. 27, 2019

South Korean builder Daewoo Engineering & Construction has joined hands with Vietnam’s state-run constructor CC1 for partnership, the firm said Monday. The two firms signed a memorandum of understanding Friday at the Daewoo E&C headquarters in Seoul, agreeing to exchange information on bidding and projects in Vietnam.  Based on its experience and expertise in domestic and overseas markets, Daewoo E&C said it would seek new business opportunities in Vietnam in the fiel

Industry Aug. 26, 2019

Korean health and beauty store operator Olive Young said Monday that it has partnered with Chinese mobile payment platform WeChat Pay to introduce it as a payment option here, as the number of Chinese tourists looking to pay via mobile apps grows.According to the company, the number of Chinese tourists who paid via mobile applications from July 26 to Aug. 25 at its flagship store located in Myeong-dong, Seoul, increased by 45 percent compared to a year prior. The amount spent by Chinese vis

Industry Aug. 26, 2019

With growing economic uncertainties and ongoing trade tensions with Japan, the South Korean central bank is highly likely to freeze the base interest rate at an upcoming meeting of its Monetary Policy Board, market analysts said Sunday. The Bank of Korea is slated to hold its rate-setting Monetary Policy Board meeting Friday. On July 18 the central bank cut the country’s policy rate to 1.5 percent, citing mounting external uncertainties. It has also lowered its growth outlook for

Market Aug. 25, 2019

Kia Motors said Sunday its subcompact crossover Soul EV has been picked as the most competitive compact-size electric vehicle by German automotive magazine Auto Zeitung, beating rivals including BMW’s i3s and Nissan’s Leaf e+.  Soul EV received the highest marks in most evaluation categories including body, driving comfort, powertrain and environment/cost, except in driving dynamics, winning 2,989 out of 5,000 points. BMW’s i3s and Nissan’s Leaf e+ received 2,894 poi

Mobility Aug. 25, 2019

Hyundai Motor Group released a teaser image for its electric vehicle concept car 45 on Thursday, ahead of the 2019 Frankfurt Motor Show next month.According to Hyundai Motor, 45 is a reinterpretation of the carmaker’s first concept car design revealed in 1970. It has been renewed under Hyundai Motor’s next-generation design philosophy -- “sensuous sportiness.”  The latest concept car has customized customer experience under the new brand strategy “Style Set Fre

Mobility Aug. 22, 2019