The Bank of Korea may raise borrowing costs again as early as March to counter inflation pressures after unexpectedly leaving policy unchanged Friday. Governor Kim Choong-soo and his officials held the seven- day repurchase rate at 2.75 percent in a split decision, after economists had forecast a quarter-point increase. Goldman Sachs Group Inc. and HSBC Holdings Plc say the next move will be next

After spearheading last year’s bull run of the Korean market, foreigners have shifted to big net sellers of local shares this year due to concern over global inflation and other negative factors, industry sources said Sunday.As of Friday, foreign investors sold a net 2.06 trillion won ($1.83 billion) worth of Korean stocks, according to the Korea Financial Investment Association and Hana Daetoo Se

INGOLSTADT, Germany (DPA) ― Audi’s new baby sports utility vehicle, the Q3, is expected to debut at the Frankfurt Motor Show in September, adding spice to the small compact SUV sector in competing against the BMW X1 and the upcoming Mercedes BLK.Spy shots reveal design details from the A1 and Q5 with the technical platform coming from the VW Golf and VW Tiguan.The engine range is also likely to co

GENEVA (DPA) ― The new Lamborghini Aventador, which is set to make its debut at next month’s Geneva Motor Show, will feature a Formula 1 race car-inspired push rod suspension system with superior handling characteristics.Lamborghini says the new suspension system transversely connects the spring and damper components to the body shell structure instead of the wheel mounts. Located under the windsc

GM Daewoo Auto and Technology Co. announced Sunday that it will receive orders for the Chevrolet Orlando minivan from Monday. Unveiled on Feb. 9, the vehicle is scheduled for launch on March. 2.The vehicle, which has been dubbed Active Life Vehicle by the company, is the first of the eight Chevrolet models the company will launch here this year. OrlandoThe car comes with a 2-liter turbocharged die

Hyundai Motor Co. announced Wednesday that it was ranked top among carmakers in a U.S. survey for customer loyalty for the second consecutive year in a survey conducted by the market research firm Brand Keys Inc.According to the carmaker, Brand Keys survey results carry significant weighting with U.S. consumers and can contribute to retaining and expanding the customer base. In addition, Hyundai a

Stuttgart Sports Cars, the official importer of Porsche vehicles, is offering free checkup services and discounts on maintenance fees for Porsche vehicles with expired warranties until March 19.The offer is limited to vehicles purchased through the company before January 2007. During the period, those with vehicles meeting the requirements will be offered a 15 percent discount on parts, and 10 per

STUTTGART, Germany (DPA) ― Mercedes has given the CLS 63 AMG a makeover with the top-of-the-range version of the four-door coupe equipped with the newly developed AMG V8 bi turbo engine with an output of 410 kW/557 hp.At the same time fuel consumption has been reduced to 9.9 liters per 100 kilometers, an improvement of 32 percent compared to the predecessor model, according to the car maker.A majo

Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, is exploring the possibility of adding compressed natural-gas powered engines to its Ram truck brand, a top executive said.“I’m eager and very interested to see what we can do with CNG in our truck applications,” Fred Diaz, head of the Ram brand, said Thursday in an interview at the Chicago Auto Show.Fiat, which holds a 25 percent stake

Volkswagen AG vehicles are under review by the U.S. National Highway Traffic Safety Administration after reports of engines stalls that may be related to fuel-pump failures.The auto-safety regulator received reports of one accident and 160 complaints from owners and the company about engine loss of power and stalling, NHTSA said in a posting on its website Saturday. The power loss and stalling was

The Chicago Auto Show, the United States’ oldest and largest auto exhibition, opened to the public on Friday with many carmakers showing off their latest high-performance vehicles, breaking from the recent trend of highlighting cleaner vehicles.South Korea’s largest carmaker Hyundai Motor Co., which had used recent international industry events had showcase new design concepts and eco-friendly tec

Hyundai Motor Co. said Thursday it has launched a marketing program for the Veloster sports coupe releasing limited information about its engine and features. The vehicle will be launched on the local market within the month.The Veloster has an asymmetrical layout ― one door on the driver’s side, and two on the passenger side ― marking Hyundai’s first breaking away from traditional designs. The ve

GM Daewoo Auto and Technology Co. unveiled the Orlando multipurpose vehicle Wednesday. The vehicle will go on sale here on March 2.Out of the eight new models the automaker plans to launch in the local market this year, the Orlando will be the first model produced by GM Daewoo to be sold under the Chevrolet brand in Korea. In January, the company announced plans to change its name to GM Korea Co.

Manpower Inc., U.S.-based employment agency, said on Jan. 27 at the World Economic Forum in Davos, Switzerland, that the world had entered a new era: The Human Age. The concept was introduced by Manpower CEO Jeffrey Joerres in his presentation “Entering the Human Age –- unleashing and leveraging human potential in the new reality” at the forum. Manpower says this new age has significant implicatio

Hyundai Motor America’s senior designer Phillip Zak has returned to GM, joining the recent migration of Hyundai’s top-level executives to the U.S. giant.Zak, who had worked as GM’s chief designer for Europe before moving to Hyundai Motor America in April 2009, returned to the U.S. carmaker earlier this month.While at Hyundai Motor America, Zak is said to have played a key role in introducing Hyund

A Korean firm said Monday it has identified the structure of a key protein that makes bacteria resistant to nearly all known antibiotics, paving the way for a treatment of the so-called superbug.Researchers at Crystalgenomics Inc., a Seoul based bio-venture, have succeeded for the first time to find the shape of the New Delhi metallo-beta-lactamase, or NMD-1 enzyme that deactivates antibiotics. Si

Ssangyong Motor Co. is offering a range of discounts on its vehicles until the end of the month.During the period, the company is providing a 2 million won ($1,790) discount for the luxury sedans Chairman W and Chairman H. For the Chairman H, the company is also offering a choice between a 2 million won DVD navigation system, 1.2 million won AM navigation system or an additional 700,000 won off. C

Hyundai Motor Co.’s Solaris subcompact received the top award for its segment in the Golden Klaxon Awards given by the Russian auto publication Klaxon, the carmaker announced Monday. Based on the Accent, the Solaris is Hyundai’s strategic model for the Russian market that includes Russia-specific features such as windshield and wiper anti-freeze and brake warning systems.  SolarisIn addition to th

Hanbul Motors Corp., the official importer of Peugeot vehicles, announced Monday that it signed an exclusive deal to import Citroen vehicles to Korea. With the launch scheduled for later in the year, the Citroen marque will return to the Korean market after a nine-year hiatus. Citroen vehicles were available in Korea during the 1990s and early 2000s, but imports were stopped in 2002.According to t

Sales of the luxury sports car brand Porsche rose to a new high in 2010, Porsche Asia Pacific announced Tuesday.According to the company, Porsche sales in the region jumped 89 percent from the previous year to come in at 2,265 units.In the Korean market, Porsche saw sales increase by 75.4 percent over the period to come in at 705 units.Along with Korea, Taiwan and Singapore also contributed signif