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The Korea Herald

Automobiles

January 07, 2019
Sales of eco-friendly cars jump 27% in 2018

[THE INVESTOR] Carmakers sold more than 120,000 units of environment-friendly vehicles in Korea last year, up 27 percent from a year earlier, industry data showed on Dec. 7. Sales by both domestic and foreign carmakers reached 123,387 eco-friendly vehicles for the whole of 2018, jumping from 9...
January 04, 2019
Imported car sales up 12% in 2018

[THE INVESTOR] Sales of imported vehicles in Korea continued to rise last year, aided by firm demand for foreign brands and the resumption of sales by Audi Volkswagen, industry data showed on Jan. 4. The number of newly registered foreign vehicles reached 260,705 last year, up 11.8 percent fro...
January 04, 2019
Kia partners with YG Entertainment for global outreach

[THE INVESTOR] Kia Motors announced on Jan. 3. that it has formed a partnership with YG Entertainment to expand its global cultural marketing combined with K-pop. As its first project, the carmaker will be the title sponsor of “Blackpink World Tour with Kia,” which will be held in seven Asia...
January 04, 2019
Hyundai, Kia log weak US sales in 2018

[THE INVESTOR] Hyundai Motor and Kia Motors posted sluggish sales in the US market in 2018 despite brisk demand for their SUVs, data showed on Dec. 4. Hyundai sold 677,946 vehicles in America last year, down 1.1 percent from the previous year, according to the data from their US sales units. ...
January 02, 2019
Hyundai, Kia improve while auto sales in Korea drop in Dec.

[THE INVESTOR] Hyundai Motor said on Jan. 2 its December sales rose 0.4 percent from a year earlier on weak overseas demand. The carmaker sold 410,326 vehicles last month, up from 408,637 units a year earlier, the company said in a statement. Domestic sales jumped 22 percent to 64,835 unit...
January 02, 2019
Hyundai aims to sell 7.6m vehicles in 2019

[THE INVESTOR] Hyundai Motor Group said on Jan. 2 it aims to sell 7.6 million vehicles this year by focusing on major markets, such as the United States and China. In 2019, Hyundai Motor and its affiliate Kia Motors will strive to sell 4.68 million vehicles and 2.92 million units, respectively...
December 31, 2018
SsangYong Motor rehires 60% of fired workers

[THE INVESTOR] SsangYong Motor said on Dec. 31 that it has rehired 60 percent of workers who were sacked amid the carmaker’s restructuring efforts over a decade ago. The maker of the Rexton and Tivoli SUVs has been mired in protracted disputes with those who left the company against their wil...
December 31, 2018
Eight new cars get gov’t interior air quality approval

[THE INVESTOR] Eight new cars released in Korea by local manufacturers this year secured governmental approval for their interior air quality, a report showed on Dec. 31. The Ministry of Land, Infrastructure and Transport said new vehicles produced and sold in the country were found to be safe...
December 30, 2018
Korean carmakers to launch 10 new models in 2019

[THE INVESTOR] South Korean carmakers are expected to roll out 10 new models in the new year in the domestic market as they strive to bolster sales, amid stiffer competition from abroad, industry watchers said on Dec. 30. Observers said that while SUVs will continue to expand their presence, new...
December 28, 2018
Hyundai introduces smart self-parking tech

[THE INVESTOR] Hyundai Motor Group -- parent firm of Hyundai Motor and Kia Motors -- on Dec. 28. unveiled a 3D graphic video of its Automated Valet Parking System, a next-generation concept of smart self-parking technology. The system was developed by its auto parts affiliate Hyundai Mobis , w...
December 26, 2018
KDB set to complete cash injection into GM Korea

[THE INVESTOR] The state-run Korea Development Bank is set to complete injecting US$750 million into the Korean unit of General Motors on Dec. 26, after it backed a plan to spin off the carmaker’s research unit. KDB and GM signed a deal in May on the rescue package for GM Korea. Under the agr...
December 24, 2018
Korea confirms BMW’s defective EGR cooler as cause of car fires

[THE INVESTOR] South Korea’s Transportation Ministry confirmed on Dec.24 that the cause of BMW engine fires that sent jitters across the country this summer was the faulty exhaust gas recirculation cooler. It also slapped an 11.2 billion won ($9.9 million) fine on the German carmaker for conceali...
December 24, 2018
Korea fines BMW W11b for engine fires

[THE INVESTOR] Korea’s Transport Ministry on Dec. 24 fined BMW 11.2 billion won (US$9.93 million) for allegedly trying to hide faulty parts and belatedly recalling its vehicles after some engines caught fire. About 40 engines of BMW vehicles caught fire earlier this year, prompting the German...
December 20, 2018
Seoul court fines Mercedes-Benz for doctoring emissions documents

[THE INVESTOR] A Seoul court imposed a heavy fine on Mercedes-Benz Korea on Dec. 20 for violating emissions-related laws by importing vehicles with uncertified parts, while also sentencing one of its employees to a prison term. The Seoul Central District Court imposed a 2.8 billion-won (US$2.4...
December 19, 2018
12 Hyundai vehicles earn IIHS top safety rating

[THE INVESTOR] Hyundai Motor Group said on Dec. 19 that 12 of its vehicles have earned the Top Safety Pick Plus rating from the Insurance Institute for Highway Safety in the United States. The 12 models are the Elantra compact, Sonata midsize sedan, Kona subcompact sport utility vehicle, Santa...

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