Hyundai Motor Co. and Kia Motors Corp. formed a partnership with the mobile telecom service provider Vodafone to collaborate in telematics and related fields, the South Korean carmakers announced on Monday.Based in London, Vodafone is the world’s largest mobile telecom service provider in terms of revenue.Telematics, which combines telecommunications with informatics, is applied to a range of onbo

Ssangyong Motors Co. on Friday posted net profits of 8.1 billion won ($7.2 million) for 2010, marking a return to profit after two years in the red.The company, which recorded net loss of 346 billion won in 2009 and 710 billion won in 2008, said that rising sales and cost-cutting efforts allowed it to return to profit.Last year, the company’s domestic and overseas sales increased by 131.6 percent

South Korean carmakers are set to use this week’s International Geneva Motor Show to showcase practical new additions to their lineup.Hyundai Motor Co. Kia Motors Corp., GM Korea Co. and Ssangyong Motor Co. will take part in the trade show which opens Tuesday for a two-week run. About 70 conventional and eco-friendly models are making their debut at the show. Hyundai, Korea’s largest carmaker, wil

GENEVA (DPA) ― A stunner at the upcoming Geneva Motor Show is the Abarth 695 Tributo Ferrari ― a tiny super car in red, Scuderia-style stripes, lashings of mesh grille and unique Ferrari badging, and based on the Abarth 500.Built in cooperation with Ferrari, the 1.4-liter turbo motor has an output of 180 horsepower compared to the 135 hp of the standard model with acceleration from zero to 100 km/

STUTTGART, Germany (DPA) ― Porsche is presenting its second hybrid vehicle in the form of the Panamera S Hybrid at the Geneva Motor Show next month with an output of 380 horsepower and a consumption of only 6.8litres per 100 kilometers.Similar to the Cayenne, the Porsche Panamera S Hybrid is fitted with a 3-litre V6 compressor motor delivering 333 hp with the electric motor adding an additional 34

STUTTGART, Germany (DPA) ― Marking its 125th birthday Mercedes is entering for the first time the two-door compact coupe segment with a C-Class Coupe, deploying much of the same technology as in the recently launched C-Class.Tailored to a customer group aged 35-45, “we are consciously targeting new customers,” according to the head of Mercedes Sales and Marketing, Joachim Schmidt.Typical coupe fea

Millet Korea launched M-Limited line products at the Millet brand’s 90th year anniversary event held in Seoul on Friday.Formerly known as Edelweiss Outdoor Co., Millet Korea is the distributor of Lafuma Group’s Millet products in Korea.In April 2009 Millet Korea signed exclusive rights to use the French brand’s trademark in Korea and China, becoming the first independent company to sign a trademar

 Honda Korea is now receiving orders for the CBR250R motorcycle that will be launched on the local market at the end of March.The CBR250R is fitted with a newly designed water-cooled 250 cubic centimeter engine, which according to the company offers improved acceleration and response. CBR250RThe company is receiving pre-launch orders until March 23, and those purchasing the vehicle before its laun

Renault-Nissan Alliance connection opens new opportunities for local suppliersRenault Samsung Motors Co., which has increasingly been turning its eyes to exports in its drive for growth, is now providing a stepping stone for its suppliers to reach the wider global market.While the company ranks fourth among South Korea’s five carmakers in terms of export volume, Renault Samsung’s exports have grow

Stuttgart Sports Cars, Korea’s official Porsche importer, is holding a service campaign from March 2 through to March 31.During the period, the company is offering free checkup services at authorized service centers using the German carmaker’s Porsche Integrated Workshop Information System tester.The company is also offering a 10 percent reduction on parts and related labor charges, including tire

Jaguar Land Rover Korea launched the 2011 New Freelander2 SD4 on the local market. The vehicle comes with a 2.2-liter turbo diesel engine that puts out 190 brake horsepower.The car manages 13.4 kilometers per liter. New Freelander2 SD4The vehicle is fitted with Land Rover’s Terrain Response system that allows the vehicle to adapt to different terrains as standard. The New Freelander2 SD4 also come

Hyundai Motor Co. and Kia Motors Corp. signed a deal with German organizations to take part in the European nation’s government-led Clean Energy Partnership on Friday. Under the agreement, Hyundai Motor Group’s two carmakers will supply hydrogen fuel cell vehicles to the German government’s hydrogen automobile project.“With the MOU, Hyundai and Kia secured a chance to introduce its technology for

The Seoul Central District Court on Friday ordered Hyundai Motor Group chairman Chung Mong-koo to pay 82.6 billion won ($73.1 million) in compensation to Hyundai Motor Co. for damages caused by irregular intra-group trading.Aside from Chung, former Hyundai Motor vice chairman Kim Dong-jin has been ordered to pay 8 billion won in compensation to the carmaker.The ruling follows three years after the

BMW Group Korea announced Thursday that it will set up BMW Korea Future Fund, the first social contribution foundation operated by a foreign carmaker in South Korea.The foundation will be established by BMW Group Korea and the seven official dealers later in the year with an initial investment of 3 billion won ($2.7 million), 2 billion won of which will be raised by the dealers and BMW Group Korea

Renault Samsung Motors Co.’s sales staff recorded the highest average monthly sales figure among local carmakers, the company announced Thursday.According to the company, the 2,342 sales staff working at its 195 sales agents sold 155,696 last year, putting the average monthly sales figure per person at 5.4. The figure per sales agent came in at 65 units per month. The company did not disclose figu

Government and private-sector representatives will introduce a new index to gauge large companies’ relationship with smaller suppliers as part of its efforts to promote broad-based growth, officials said Wednesday.The shared growth index will be announced once annually, starting with 56 companies including Hyundai Motor Co., POSCO and Samsung Electronics next year, the Commission on Shared Growth

AD Motors, a Seoul-based electric car maker, announced Wednesday that it will build a mass production facility in Yeonggwang Country in South Jeolla Province. Once complete, the facility will be capable of producing 43,000 electric vehicles on an annual basis.The company signed an agreement for the project with the governments of Yeonggwang county and South Jeolla Province on Tuesday. It will inje

Kia Motors Corp. named Lee Sam-ung as its new president for domestic sales and production on Wednesday.He had been serving as a vice president at the country’s second largest carmaker. Lee Sam-ungThe company said that Lee is a labor expert, and that he is expected to make significant contributions to developing the company into a global player by improving its labor management system, thereby esta

JEJU ― Ssangyong Motors Co. launched the compact sport utility vehicle Korando C, its first new vehicle in three years, on the local market Tuesday.Since the company launched the luxury sedan Chairman W in February 2008, Ssangyong has run into a series of critical problems that at points pushed the company to the brink of collapse delaying plans for the new vehicle.In February 2009 Ssangyong enter

KB Financial Group nominated Choi Gi-eui to head its new subsidiary KB Koomin Card on Monday.Choi currently heads the group planning the launch of KB Kookmin Card as a separate subsidiary. Choi Gi-euiIf approved at the inaugural shareholder’s meeting, Choi will become the first president of KB Financial Group’s credit card subsidiary, which is scheduled to be launched March 2.Choi, who holds a Ph.