Carmaker yet to launch K2 compact in Korea despite strong sales in ChinaThe K series of Kia Motors Corp. will likely be completed this year after the automaker unveiled the first model ― the K7 sedan ― in November 2009.Kia, which launched the K5 sedan in April 2010, is scheduled to fill the K line-up by unveiling the third and fourth models ― the K9 and K3 ― in May and later this year, respectively, according to company executives.“We plan to launch the K9 on May 2 and the timing of the K3 will

Mobility April 29, 2012

Korean carmaker to offer education program to 10,000 students in 15 nationsHyundai Motor Co., Korea’s largest carmaker, will offer a series of vocational education program for young jobseekers in 15 European countries for the next two years under its social contribution activities, company officials said Friday.The program, dubbed “Skills for the Future,” is designed to support employment of vocational school students aged between 15 and 18 years old in Europe, the company said.Hyundai’s oversea

Mobility April 27, 2012

Performance aided by emphasis on product-quality than mass productionHyundai Motor reported a record performance on the back of improved profitability despite sluggish sales at home.The nation’s largest carmaker said Thursday that it posted 2.28 trillion won ($2.02 billion) in operating profit during the first quarter of 2012, up 24.9 percent from the same period last year.This marked all-time high quarterly earnings for the automaker. Company executives attributed the performance to a product q

Mobility April 26, 2012

Financial group also plans to support creation of jobs, internship posts in Middle EastKB Financial Group plans to hold several job fairs for the baby-boomer generation this year as part of efforts to support shared-development.“As an upgrade of the KB Goodjob campaign, we are considering introducing job fairs for baby boomers this year,” a KB Financial spokesman said Thursday.Baby boomers, mainly born between 1955 and 1963, have been the major driving force in the nation’s economic development

April 26, 2012

BEIJING ― The SM sedan series of Renault Samsung Motors is expected to play a significant role in the its parent Renault Group’s project to expand its presence in China.Renault Samsung chief executive Francois Provost stressed that the consumer preferences of the Chinese are quite similar to those of Koreans.His remarks came right after France-based Renault Group unveiled the Talisman, a luxury sedan dubbed the SM7 in Korea, during the 2012 Beijing International Automotive Exhibition ― also call

Mobility April 24, 2012

Renault to produce some models in world’s largest automobile marketBEIJING ― Global carmakers including Korean players are competing to increase their market share in China, the world’s largest automobile market.In the past several years, China has overtaken the Untied States in vehicle sales per annum.While General Motors and Volkswagen had dominated the Chinese market, Hyundai Motor has continued to increase its share since it established the Beijing Hyundai corporation and factories a decade

Mobility April 23, 2012

At home, automaker pinning hopes on electric vehicles to offset sluggish salesRenault Samsung Motors is seemingly prioritizing overseas markets over sales at home as consumption in Korea sags and the Chinese market enjoys rapid growth.During the first quarter of 2012, Renault Samsung posted exports of 27,505 units, 64 percent of its total sales of 42,939 units.Between 2000, when France’s Renault acquired the then Korean carmaker, and 2010, the carmaker’s yearly domestic sales exceeded exports.Th

Mobility April 22, 2012

French automaker Citroen resumed sales in the local market on Thursday after a decade-long hiatus.The company under the wing of PSA Peugeot-Citroen unveiled the DS3, a premium hatchback, in Seoul on Thursday. Hanbul Motors Corp. will take on imports of the French cars.Citroen aims to sell up to 2,500 cars per annum in Korea, Eric Dumondelle, chief of the company’s Asia Pacific division told The Korea Herald.“We at Citroen have a new logo, new technology and it was the right time (to come back) i

Mobility April 19, 2012

Hyundai Motor Co., Korea’s No. 1 carmaker, has launched the third-generation Santa Fe in the local market.During an unveiling event in Incheon on Thursday, the company said it aims to sell 42,000 units of the New Santa Fe at home and 110,000 units in the overseas market this year. The automaker has also set the sales target of 385,000 units for next year ― 50,000 for domestic and 335,000 for overseas consumers.“The Santa Fe holds significant meaning for the local sport utility vehicle market and

Mobility April 19, 2012