Articles by Kim Yon-se
Kim Yon-se
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Woori sale to resume Monday
Chief regulator shows confidence in attracting competitive bidderThe Public Fund Oversight Committee will put up the state-controlled Woori Financial Group for auction again on Monday.In a statement on Sunday, the PFOC said it would attract preliminary bidders for the nation’s largest financial group by July 27 after making official notification of the sale on April 30.The new sale project comes after financial authorities failed to attract a preferred bidder for Woori Financial several times be
April 29, 2012
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Kia Motors to complete K-series this year
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
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Kia’s quarterly earnings climb to record high
Following Hyundai Motor, affiliate Kia Motors reported all-time high quarterly earnings on the back of its robust vehicle sales in the overseas market.Kia said Friday that its operating profit reached 1.12 trillion won ($1 billion) during the first quarter of 2012, up 33.4 percent over the same period last year.The carmaker also saw its net profit climb by 26 percent to 1.2 trillion won. Its sales came to 11.7 trillion won.On a quarterly basis, the figures for the operating profit, net profit an
Mobility April 27, 2012
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Hyundai Motor to train European jobseekers
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
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Hyundai Motor posts record operating profit
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
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KB job fairs to help baby boomer retirees
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
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Provost says SM series key in China
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
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Carmakers strive to increase sales in China
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
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Hyundai Motor expands aid to suppliers
Hyundai Motor Group plans to up the funds it provides to its subcontractors, giving out about 600 billion won ($530 million) this year. About 320 billion won will support suppliers’ research and development activities and the rest will be allocated as loans with low interest rates, the group said in a statement on Sunday.The automotive group said it is showing its commitment to co-prosperity, as its 11 business units, including Hyundai Motor, Kia Motors and Hyundai Mobis, have signed a pact with
Mobility April 23, 2012
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European car sales fall to 14-year low as economy stalls
European car sales fell to a 14- year low last month, with Fiat SpA, Renault SA and PSA Peugeot Citroen posting the biggest drops, as the region’s sovereign- debt crisis caused economic growth to stall. Registrations in the 27-member European Union plus Switzerland, Norway and Iceland fell 6.6 percent from a year earlier to 1.5 million vehicles, the lowest figure for March since 1998, the Brussels-based European Automobile Manufacturers’ Association said today in a statement. First- quarter sale
Mobility April 22, 2012
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U.S. regulators to examine electric-car battery safety
The U.S. auto-safety regulator said it will hold a forum on lithium-ion batteries in electric cars next month, almost a year after a General Motors Co. Chevrolet Volt caught fire following crash-testing. The National Highway Traffic Safety Administration announced a meeting May 18 in Washington to convene government officials and auto and battery-industry representatives to talk about “safety considerations” for cars powered by lithium-ion batteries. The meeting was announced in a posting on the
Mobility April 22, 2012
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Renault Samsung looks to overseas markets
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
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Citroen reenters Korean market
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
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New Santa Fe aims to be best-seller
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
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FSS to probe banks’ insurance sales
Regulators to punish lenders for irregular loan issuance in MayCommercial banks will soon face a strict regulatory crackdown for possibly irregular practices in sales of “bancassurance” products, officials said.The Financial Supervisory Service plans to dispatch a group of inspectors to the headquarters of major banks such as Kookmin, Woori and Hana, starting in the coming weeks.In the same vein, several insurance companies, including Samsung Life and Korea Life, could be the target of close mon
April 19, 2012
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