Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Auto exports expected to log solid gains in H2
Korea’s auto exports are likely to post a solid increase in the second half of this year despite unfavorable overseas market conditions, industry officials said Thursday.Domestic demand is expected to remain weak for the rest of the year, but exports should continue to do well, carmakers, auto parts companies and local automobile industry associations said in a meeting hosted by the Ministry of Knowledge Economy.“Eurozone fiscal woes and a slowdown in growth in China and the United States have a
July 26, 2012
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Kia’s Soul expands small car market dominance in U.S.
The box-type compact Soul of Korea’s Kia Motors Corp. is strengthening its stranglehold in the U.S. market as its Japanese rivals are suffering sluggish sales, industry data showed Tuesday.Kia sold 63,635 units of the Soul in the first six months of the year in the U.S., with a market share of 82 percent in the segment, beating other boxes like the Nissan Cube and the Scion xB of Toyota, according to the data.During the same period, 10,206 units of the Scion xB were sold, while sales of the Cube
July 24, 2012
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Audi Korea chief Trevor Hill set to leave Korea
Trevor Hill, managing director of Audi Korea, has been a key figure in Korea’s import car industry for his contributions to growth in the Korean market. After five years in Korea, he plans to leave the country upon completing his tenure this year. News reports said that Hill will continue his career with Audi AG, moving to Dubai to serve as the local unit chief there. According to industry sources, Hill has played an instrumental role in the breakthrough sales success of the luxury automaker’s K
July 23, 2012
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No aid for Peugeot without concessions: French minister
PARIS ― France will not grant any public aid to Peugeot PSA without concessions from the carmaker, Industry Minister Arnaud Montebourg said on Wednesday, as the government prepared to unveil its strategy to shore up the ailing automobile sector.Montebourg criticized Peugeot for deciding to shutter a major production site near Paris, promising to summon the Peugeot family ― a majority stakeholder ― to explain why the carmaker has continued to pay dividends despite its difficulties.A public aid pa
July 22, 2012
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Ford recalls 2013 Escapes; engines can catch fire
Ford Motor Co. is telling owners of one version of the brand-new Ford Escape not to drive the SUVs until dealers can fix fuel lines that can crack and spill gasoline, causing engine fires. The company issued the unusual warning on Thursday and said it is recalling 2013 Escapes equipped with 1.6-liter four-cylinder engines. Dealers will pick up the Escapes and drop off a loaner car that customers can use until the repairs are finished. The company is hoping to ship parts and get all the SUVs repa
July 22, 2012
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Renault-Nissan renews commitment to Korea
Investment plan lacks specific measures to boost Renault Samsung’s sagging salesIn his surprise visit to Korea last week, Carlos Ghosn, chairman and CEO of the Renault-Nissan Alliance, expressed his commitment to reviving the ailing Korean unit Renault Samsung Motors. Ghosn, who is also chairman of Nissan Motor, unveiled a 170 billion won ($160 million) investment plan in the production of Nissan vehicles at Renault Samsung Motors’ Busan plant during a news conference held in Seoul on Friday. “W
July 22, 2012
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Seoul Auto Salon attracts crowd
The Seoul Auto Salon 2012 and the Seoul Auto Service 2012 ended in a great success on July 15.(Yonhap News)Seoul Auto Salon, the country’s leading auto show dedicated to aftermarket and tuning cars, wrapped up its run on July 15 amid heightened public attention. The automotive event celebrated its 10th anniversary this year, luring in some 150,000 visitors. New programs such as “Seoul auto film sh
July 20, 2012
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Hyundai, Kia sales in U.S., China surpass home market in first half
The United States and China surpassed Korea as the largest markets for cars made by Hyundai Motor Co. and Kia Motors Corp. in the first half of 2012, industry sources said Thursday.Combined sales of Korea’s top two carmakers in the home market stood at 567,251 in the January-June period, while numbers for the U.S. and China reached 645,376 and 593,896 each.The tally marks the first time that sales to individual foreign countries have surpassed the number for the domestic market. Both Hyundai and
July 19, 2012
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Overseas sales of Hyundai’s premium sedans more than double
Overseas sales of Hyundai Motor Co.’s premium sedans such as the Genesis and the Equus more than doubled in the first five months of the year, buoyed by rising demand in the United States, industry sources said Sunday.According to the sources, Hyundai Motor, South Korea’s leading automaker, exported a total of 28,865 Genesis, Equus and Grandeur sedans in the January-May period, compared with 12,958 units a year earlier.Hyundai Motor sold a total of 13,553 Grandeur sedans in overseas markets in t
July 15, 2012
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Hyundai U.S. chief signals investment in capacity, trucks
Hyundai Motor Co., headed for its first annual decline in U.S. market share since 1998, plans to address production constraints and invest in trucks and crossovers, the automaker’s sales chief for the country said. The Hyundai brand passed Ford Motor Co.’s namesake brand in car sales to retail buyers during the first six months of the year, John Krafcik, chief executive officer of the South Korean company’s U.S. sales unit, told reporters yesterday at an event in Brooklyn, Michigan. The company
July 15, 2012
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Japanese automakers struggle in Korean market
Imported car brands with large deficits aim to hit back with lower prices and model revampsJapanese carmakers have seen gradual recoveries in the global market, but their Korean businesses are still posting large operating losses. The automakers attributed their large deficits to external factors such as last year’s earthquake and tsunami in Japan, floods in Thailand and the strong yen. “Last year was doomed to deficit. The earthquake and other natural disasters basically blocked the automobile
July 15, 2012
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Hanbul Motor introduces second model of DS line
Hanbul Motors, the official importer and distributor of Citroen vehicles, unveiled the DS4, the second of its DS line, on Thursday in Seoul. The winner of “the Most Beautiful Car of the Year” by Eurosport Magazine in 2011, Citroen DS4 combines a coupe style with two-plus-two door practicality, and offers three full-sized rear seats, accessed by rear doors with hidden handles that are seamlessly integrated into its design. The new DS model also provides a capacious 370-liter boot and a host of c
July 12, 2012
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Hyundai Motor’s 6-month sales rise 2.6% in China
HONG KONG (Yonhap News) ― Hyundai Motor Co. sold more than 370,000 vehicles in China in the first six months of this year, market data showed Thursday, showing a steady performance by South Korea’s largest automaker in the world’s largest auto market. The China Passenger Car Association, which provides automotive statistics every month, said Hyundai Motor sold 372,801 units in China during the January-June period, up 2.6 percent from a year earlier.In the month of June, Hyundai Motor sold 58,150
July 12, 2012
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BMW Korea ups after-sales service
BMW Group Korea, Korea’s No. 1 imported car brand, aims to take the lead in after-sales service here, increasing the number of maintenance shops and adopting an ombudsman system for the first time in the industry. “We wondered why our service could not meet the expectations of premium car drivers. And we have decided to adopt a set of new programs to resolve doubts of our customers,” said Kim Hyo-joon, BMW Korea president, in a press meeting on Thursday. As part of the efforts, the Korean opera
July 8, 2012
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GM chief Akerson worried about second half
General Motors, the world’s largest automaker, is worried that Europe’s economic weakness will affect the second half of 2012, the company’s top executive said. “You can see softness in Europe,” Chief Executive Officer Dan Akerson told an audience at the Executives’ Club of Chicago. “If there were a meltdown in the euro, which I don’t think there will be, I think it would be pretty impactful on, certainly, the United States” and China. Akerson, who oversaw GM regaining its title of world’s large
July 8, 2012
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Nissan GT-R an ‘everyday supercar’
Chief engineer Mizuno shares concept and vision of company’s flagship sports carThe Nissan GT-R is designed to become an everyday supercar for everyone, said Kazutoshi Mizuno, who is affectionately called the “father” of the Japanese carmaker’s flagship sports car, in Seoul last week. “While other supercars are sold in a closed market for some healthy, rich people who have several cars, GT-R is targeting an open market for everyone,” said the chief vehicle engineer and chief product specialist f
July 8, 2012
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Volkswagen to pay $5.6b for rest of Porsche after 7-year saga
Volkswagen AG agreed to buy the 50.1 percent stake in Porsche SE’s automotive business that it doesn’t already own for 4.46 billion euros ($5.6 billion), ending a seven-year takeover saga that divided two of Germany’s most powerful families. VW was able to proceed with the transaction after reaching an agreement with German tax authorities, it said in an emailed statement late yesterday. The cash
July 5, 2012
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Mercedes looks to SUVs to extend lead in U.S. luxury race
After ceding the top spot for U.S. luxury car sales for more than a decade, Mercedes-Benz is plotting a comeback with new and updated sport-utility vehicles. The German automaker said its U.S. deliveries gained 18 percent this year through May, to 106,364 luxury vehicles. That puts Mercedes just ahead of rival Bayerische Motoren Werke AG, which last year stripped Lexus of the U.S. premium crown that the Toyota Motor Corp. unit took from Mercedes in 2000. “Mercedes has upped its game,” said Rebec
July 1, 2012
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Toyota, BMW partner up on sports car technology
Toyota Motor Corp. said it will seek to gain from Bayerische Motoren Werke AG’s expertise in sports cars as a partnership on new powering systems expands to include auto components and high-performance vehicles. The carmakers will collaborate on developing fuel cells, lightweight materials and electric powertrains under a memorandum of understanding signed today, they said at a press conference at BMW’s Munich headquarters. “BMW knows how to make a car perform,” Toyota President Akio Toyoda said
July 1, 2012
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European automakers see no drastic sales increase after FTA
Additional tariff cut applied from July 1, but effect may be limitedEuropean carmakers expect no drastic increase in sales here despite tariff cuts on their cars exported to Korea in the wake of the Korea-EU Free Trade Agreement.The automakers said that the tariff cuts will only have a “psychologically” positive effect on its sales of cars in Korea.July 1 marked the first anniversary of the Korea-EU FTA in action. The tariff imposed on imported European cars fell for the second time, from 5.6 pe
July 1, 2012