Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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US 'incredibly concerned' about suspected NK-Iran military ties
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Sewol victims commemorated on tragedy's 10th anniversary
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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[Kim Seong-kon] Democracy and the future of South Korea
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Yoon's office denies considering liberal figures for key posts
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Why is Apple Pay struggling to get purchase in Korea?
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World’s carmakers face growing competition from Chinese firms
GUANGZHOU, China (DPA) ― The first Chinese cars built in Europe started rolling off the conveyor belt this year when Great Wall Motor Co. Ltd. built a plant in Bulgaria together with Litex Motors.The Voleex C10 was the first vehicle off the assembly line of the plant near the town of Lovech last week with tests of the production facilities and installations set to continue for the rest of the year before the first sales are launched at the beginning of 2012.The Hover H5 sports utility vehicle an
Nov. 27, 2011
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Toyota discussing green-car partnership with BMW
TOKYO (AFP) ― Japanese auto giant Toyota is in discussions with BMW over a partnership in eco-friendly cars, a press report said Saturday.Under the deal, the German automaker would provide diesel engines for Toyota vehicles, while Toyota would share its hybrid technology, the business daily Nikkei said.It would mark Toyota’s second green-technology tie-up with a major foreign automaker, following its agreement in August to develop hybrid-vehicle systems with Ford of the United States.A Toyota sp
Nov. 27, 2011
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Supercar makers chase China‘s superrich motorheads
MACAU - China’s superrich want supercars. That’s what the makers of world‘s most exotic and expensive sports cars are hoping as they gather in Macau this week for the first Asian edition of Monaco’s annual Top Marques show that began eight years ago.The supercar companies are chasing growth in China, which is churning out scores of new millionaires each year and is home to the world’s biggest auto market.Ferraris and Lamborghinis sat alongside rare and beautiful automotive works of art from less
Nov. 27, 2011
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Daimler plans to drop Maybach, focus on S-Class
Daimler AG will shut down the super-luxury Maybach brand to end almost a decade of losses and focus on developing vehicles under its Mercedes flagship marque. Stuttgart, Germany-based Daimler intends to stop producing the $350,000 Maybach when a new version of the Mercedes S-Class comes to market in 2013, Chief Executive Officer Dieter Zetsche said in an interview with Frankfurter Allgemeine Zeitung. Daimler hasn’t made a profit on the Maybach after deciding to reintroduce the 1930s-era marque i
Nov. 27, 2011
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Sales of midsize cars in U.S. shrink as buyers go smaller
DETROIT (AP) — You can‘t drive far in the U.S. without seeing a Toyota Camry, Honda Accord or Ford Fusion.Midsize sedans have been America’s favorite cars for decades. That‘s changing. More people are choosing small cars like the Chevrolet Cruze and even smaller ones like the Honda Fit because they’re worried about gas prices and car payments. There‘s another reason, too: Small cars are no longer the cramped econoboxes of the 1980s and 1990s, and they have many of the same features as larger car
Nov. 27, 2011
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Lexus cars recalled for faulty steering
Toyota Motor Korea Co. has recalled 3,357 Lexus ES330 and RX330 vehicles for faulty power steering pulleys that can cause safety problems for drivers, the transportation ministry said Sunday.According to the Ministry of Land, Transport and Maritime Affairs, the problems in the two models can cause the power steering system to fail or suddenly make it hard to control the handling of the car.Vehicles subject to the recall were cars made by Toyota in Japan between June 1, 2004 and March 31, 2011.Fr
Nov. 27, 2011
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Hyundai-Kia reshuffles Europe posts
Korean automaker’s move aimed at staging aggressive marketing and tackling the eurozone problemThe Hyundai Motor Group promoted division chiefs of the U.K and Middle East to country and regional head, in an HR strategy aimed at countering declining demand amid economic uncertainty in Europe. Hyundai U.K.’s managing director Tony Whitehorn on Friday was made the president and CEO of Hyundai Motor U.K., making him the first chief of the country to advance to a head-position in the history of Hyund
Nov. 27, 2011
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Hyundai Motor expands ties with Chinese car dealers
Hyundai Motor is broadening its ties with Chinese dealerships in an apparent judgment that China’s rapidly growing car market could decide the fate of the Korean automaker.The company has invited more than 50 dealers from China to introduce the Korean headquarters’ management philosophy and future development strategies in detail.The dealers from Beijing Hyundai Corp. are scheduled to visit a Hyundai Steel factory, an affiliate of the carmaker and participate in Korean cultural events until this
Nov. 25, 2011
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Automakers to benefit most from Korea-U.S. FTA
Sales growth in No. 1 market could boost car exports to BRIC countriesThe auto sector is regarded as one of the few local industries to greatly benefit from the Korea-U.S. Free Trade Agreement.The FTA, which was recently ratified by both countries’ legislative bodies, is widely expected to push up Korean carmakers’ position in the world’s largest auto market.Experts predict that about 5,000 small and mid-sized Korean auto parts manufacturers will be able to expand their presence in the United St
Nov. 23, 2011
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Hyundai Motor inks 3-year Grammy Awards partnership
Hyundai Motor Co., South Korea‘s largest carmaker, said Wednesday that it signed a three-year contract to support the U.S. Grammy Awards.Under the contract, Hyundai will be the exclusive vehicle partner for the prestigious award sponsored by the National Academy of Recording Arts and Sciences for outstanding achievement in the music industry. The carmaker said that its vehicles will be used to ferry celebrities to the awards ceremony slated for February 2012.It will also play a role in the Gramm
Nov. 23, 2011
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Hyundai secures sales networks in Europe
Hyundai Motor has embarked on securing competitive sales networks in Germany and France, which account for 41 percent of the European automobile market.The automaker will take over wholesale distributors in Germany and France from Switzerland-based Emil Frey, as part of its strategy to enhance marketing and sales in Europe.The Hyundai Motor Group said Tuesday that Hyundai Motor Europe Corp. will acquire a 70 percent stake in a German dealership company from Emil Frey, the second-largest dealer g
Nov. 22, 2011
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Hyundai unveils localized model at Guangzhou motor show
HONG KONG -- South Korea’s top automaker Hyundai Motor Co. has introduced its first localized car model at an international motor show in China, vying to grab a larger share of the world’s largest automobile market, company officials said Tuesday. Hyundai Motor said earlier it would develop a new brand exclusively for China in a bid to provide a more tailored product for Chinese consumers.The new concept car is called the “Shouwang”, meaning being “of high birth” in the ancient Chinese language.
Nov. 22, 2011
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Denmark, Norway pick Hyundai SUV as fuel cell test bed
Denmark and Norway have chosen the Tucson ix35 sport utility vehicle by South Korea’s leading automaker Hyundai Motor Co. as a fuel cell test bed vehicle, the company’s parent group said Tuesday.Hyundai Motor Group, whose flagship companies include Hyundai and Kia Motors Corp., said the selection highlights the competitiveness of its fuel cell technology and growth potential of the eco-friendly vehicles.Fuel cell systems convert chemical energy from natural fuel sources, such as hydrogen, direct
Nov. 22, 2011
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Ssangyong Motor launches flagship sedan in China
Ssangyong Motor Co., South Korea‘s smallest carmaker, announced Monday the launch of its flagship luxury sedan for the first time in China, as the company moves to expand into the world’s largest auto market.The Chairman W, which is on display at the ninth annual Guangzhou International Motor Show, will officially go on sale Tuesday, the carmaker said.The CW700 limousine features a 3.6-liter XGi3600 engine and carries a price tag of around 120 million won ($105,200), Ssangyong said, adding it is
Nov. 21, 2011
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Suzuki says it wants to end alliance with Volkswagen
Suzuki Motor Corp said Friday it was terminating itspartnership with Volkswagen AG and threatened to take the matter toan international arbitration if the German company refused to sellits 19.9-per-cent stake in its smaller Japanese partner.The two carmakers are at odds over claims by Suzuki thatVolkswagen had not granted it access to certain technologies, inbreach of a promise made in a 2009 partnership deal. Relations souredfurther after VW called Suzuki an “associate” in its annual report.“To
Nov. 20, 2011
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Toyota awaits Prius bounce as inventory recovers, oil rises
Toyota Motor Corp., the biggest seller of gasoline-electric cars, said U.S. sales of Prius will revive with increased inventory and rising oil prices.Deliveries of the Prius, the top-selling hybrid since 1997, declined 9.4 percent through October from a year ago. Competitors also stumbled. Honda Motor Co.’s Insight fell 21 percent and Ford Motor Co.’s Fusion Hybrid sedan slid 48 percent in the same period, according to Autodata Corp.“When Toyota is 70 percent of the market and we had to stop Pri
Nov. 20, 2011
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All-electric SM3 planned for 2012
Renault Samsung says state support required for cars with replaceable batteriesTheRenault Samsung Motors said Sunday that it is working to produce an all-electric version of its mid-sized SM3 sedan next year with replaceable batteries that can be exchanged at drive-in facilities.The Korean unit of the French carmaker has the goal of launching 250 “zero-emission” vehicles by December 2012 to show its commitment in clean energy vehicles, while key requirements for the plan would involve policymake
Nov. 20, 2011
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New car sales in Europe fall amid deepening economic gloom
New car registrations in Europe fell by 1.8 percent in October, the European Automobile Manufacturers’ Association said Wednesday, amid signs of deepening economic gloom across the region.The month-on-month drop brought total new registrations in the 27-member European Union down to 1.01 million vehicles, with sharp falls in the nations that have emerged at the heart of Europe’s debt crisis.This includes Italy and Spain, where new car registrations slumped by 5.5 per cent and 6.7 per cent respec
Nov. 20, 2011
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Imported cars in Korea to top 600,000 units
Imported cars registered in South Korea are expected to surpass the 600,000-unit mark for the first time this month, buoyed by solid consumer demand, a trade association said Thursday.The Korea Automobile Importers and Distributors Association said the number of foreign-made cars on the country’s streets, excluding commercial vehicles such as trucks and buses, hit 596,398 units as of the end of October.The figure is equivalent to 4.2 percent of the 14 million passenger cars registered in the cou
Nov. 17, 2011
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Ssangyong Motor exports to set milestone this year
Carmaker projects exports to reach 63,169 units in Jan.-Oct. periodSsangyong Motor is projected to post record export performance this year, taking the lead in the growth of overseas sales among carmakers in Korea.The company saw its exports reach 63,169 units for the first 10 months of 2011, up 61.3 percent from 39,158 units over the corresponding period a year earlier.Company executives predict that exports per annum will come to 75,000 units this year. The carmaker’s current record-high figu
Nov. 16, 2011