Hyundai Motor Group has named Ahn Dong-il, a former executive with the steel giant Posco, as president of the R&D and technology development division within its subsidiary Hyundai Steel, the group said in a statement Friday.Ahn is known as a top engineer who served as head of Posco’s two manufacturing bases: one in Gwangyang, South Jeolla Province, and one in Pohang, North Gyeongsang Province. Ahn Dong-il (Hyundai Steel)His appointment to the role is part of the group’s efforts to improve its co

Taking a step closer to the company’s young workforce, Hyundai Motor Group Executive Vice Chairman Chung Eui-sun recently made a surprise video debut -- filming himself test-driving the Nexo, the fuel-cell electric vehicle that the company is betting on as the key to its future growth.In the video, a CEO message addressed to the carmaker’s midlevel employees, Chung drinks coffee and checks his “urgent email” while the vehicle is in self-driving mode.Hyundai Motor Group Executive Vice Chairman Ch

South Korean auto giant Hyundai Motor and its sister company Kia Motors will hire new talents year-round, ditching their conventional recruitment system. Starting this year, the companies will hire new employees by opening job vacancies all year round, the company said on Wednesday in a statement. The new system is seen as an attempt to make changes in its corporate culture, often criticized as hierarchical and monolithic.  (Hyundai Motor)It is aimed at securing young talents capable of leading

Posco Daewoo, the trading arm of steel giant Posco, has acquired a 75 percent stake in a grain export terminal held by a Ukrainian logistics firm as part of efforts to bolster its position as a global grain trader, the company said Wednesday.Posco Daewoo has signed a contract with Orexim Group, a logistics firm in Ukraine, entitling the Korean firm to operating rights over the terminal. Orexim will keep the rest of the shares, officials said, while declining to reveal the takeover price, citing

Speculation has been circulating that the head of Hanwha Group might return to the management of the nation’s chemical-to-energy giant, as his suspended sentence ordered by the court is nearing its end. The 67-year-old tycoon has kept a low profile for the past seven years. In 2014, Hanwha Group Chairman Kim Seung-youn was sentenced to three years in jail, suspended for five years, for illegally diverting funds from healthy affiliates to weaker companies he owned. Kim’s sentence ends on Feb. 18,

German luxury carmaker Mercedes-Benz placed fourth on the list of carmakers’ sales here in January, outselling some with manufacturing bases here.According to industry data, the importer and the distributor of the German carmaker sold 5,796 vehicles last month, accounting for 4 percent of the total 114,632 vehicles sold.  Mercedes-Benz S Class (Mercedes-Benz Korea)The number of vehicles places Mercedes-Benz behind Hyundai Motor, Kia Motors and SsangYong Motor. Hyundai and its sister company Kia

Taxis are more than a means of transport for Koreans. They serve as a platform where people talk about life, societal changes and, of course, politics, with those behind the wheel. On top of their cultural and social value, for decades, they have been one of the most reliable and relatively inexpensive door-to-door transport services, offering convenience to people with hectic city lives. These are probably the reasons why taxis and drivers appear frequently in cultural content. (Yonhap)From mov

The United States and North Korea will likely hold their working-level talks on a proposed meeting of their leaders at a joint border village of the two Koreas, informed sources said Saturday.They said the talks may begin as early as Monday."The date and venue of the North Korea-U.S. dialogue have yet to be announced, but Panmunjom seems like the most likely venue for now," a diplomatic source here said. Panmunjeom is seen in the April 26, 2018 file photo. (Yonhap)The working-level dialogue will

A co-director of the South Korean animated film "Underdog," said Saturday that he is disappointed at the weaker-than-expected public attention to his brainchild produced after seven years of painstaking efforts."I just feel distressed. I've realized the high wall of prejudice against Korean feature animations," said Oh Sung-yoon in a telephone conversation with Yonhap News Agency.The film, jointly directed with Lee Chun-baek for a period of seven years, was released Jan. 16 but has so far drawn

Hyundai Motor’s sports utility vehicle Palisade that debuted late last year has been named Car of the Year by a group of Korean auto journalists, the organization said Wednesday. The vehicle also scored highest marks in the SUV category, the Korea Automobile Journalists Association said in a statement. (Yonhap)The association that comprises 48 newspapers, TV stations and magazines tested 58 vehicles from 21 brands from late last year at three separate test-drive sessions. The Palisade scored 93.

SK Holdings, the holding company of the nation’s second-largest conglomerate by market cap, has invested $100 million into American smart glass manufacturer Kinestral in a deal that gives the Korean company the right to manufacture and sell the product in China.Smart glass tints to darker neutral grays to block solar heat and light when voltage is applied. The product, used both for residential and commercial buildings, blocks 99 percent of ultraviolet light and reduces 30 percent of heat energy

South Korean auto giant Hyundai Motor is planning to launch its luxury brand Genesis in China, seeking a change in its sales strategy that has only targeted the mass market for years.Hyundai Motor is in preparation for the official launch of the brand, said officials in Seoul, and is looking for places to start the business in Shanghai.The carmaker is reviewing launches in the regional basis of the world’s largest auto market along with Shanghai to compete with other luxury automakers that have

South Korean solar panel maker Hanwha Q Cells was named the top photovoltaics installer in Europe and Australia this year by research institutes in the respective regions that surveyed its brand recognition, management and market share, the company said Tuesday.In Europe, Hanwha Q Cells has remained in the top position since its acquisition of German company Q Cells in 2012, and for four years in Australia. The survey was conducted and announced by EuPD Research, an information provider on busin

BMW Korea, the local branch of the German luxury carmaker, is betting on sales of the all-new 3 Series and X5 in the first quarter of this year. The seventh generation of the 3 Series, BMW’s best-selling series for more than 40 years, is ready to hit the market in March with a renewed design, technology-enhanced features and upgraded performance, the company said in a statement. 　 BMW 3 Series (BMW Korea)The sports sedan, more than 15 million units of which have sold worldwide, was unveiled at t

SsangYong Motor plans to renew its signature sport utility vehicle Korando in eight years next month, the company said Monday.Unveiling a teaser image of the vehicle, the company said it has the most “flamboyant” digital interface, state-of-the-art tech features and a sophisticated body design. The vehicle, code-named C300, is a successor to the Korando C SUV upholding the legacy of the 37-year-old brand. Korando is the oldest SUV brand in South Korea.A teaser image of Korando (SsangYong Motor)T

SK Group Chairman Chey Tae-won stressed the role of businesses in creating a sustainable economy in a discussion session on the sidelines of the World Economic Forum in Davos, Switzerland, the company said Friday.At a session jointly hosted by Boston Consulting Group, the head of South Korea’s second-largest conglomerate shared his experience of pursuing ways to promote the sharing economy nationwide by facilitating tangible and intangible assets held by his companies.Taking an example of SK Inn

Hyundai Motor Executive Vice Chairman Chung Eui-sun has been named co-chair of the Hydrogen Council, a global alliance of hydrogen technologies launched to promote the energy transition from fossil fuels, the organization said Thursday.Chung replaces Yang Woong-chul, a former vice chairman of Hyundai Motor who left the carmaker late last year, and joins incumbent Co-chair Benoit Potier, chairman and CEO of Air Liquide, to lead the council for the next two years. (Yonhap)The Hydrogen Council said

Hyundai Motor has signed a memorandum of understanding with Vietnam’s Thanh Cong Group to set up a joint sales venture as part of efforts to expand its presence in the Southeast Asian country, the company said Thursday.Under the agreement, the companies will work together to expand sales and after-service networks to cater to growing demand in the country’s auto market. Vietnam’s auto market grew 27 percent last year. (Hyundai Motor)Established in 1999, Thanh Cong Group is a Vietnamese conglomer

Targeting 20-something first-time car buyers, South Korean carmaker Kia Motors unveiled the third-generation model of its signature compact sports utility vehicle, the Soul, Wednesday, highlighting its upgraded power, high-tech features and competitive price. Returning to the market for the first time in six years, the Soul Booster boasts a 1.6-liter turbo engine that can produce up to 204 horsepower or 27 kilogram-meters of torque, making it the most powerful car in the CUV segment.  Kwon Hyeok

McDonald’s in Korea will replace all of its motorbikes used for its delivery service with electric scooters by 2021, the Korean branch of the fast food chain said Tuesday.“In the next three years, we are going to replace around 1,400 vehicles (operated by) restaurants under direct management with electric bikes,” it said in a statement. Electric bikes are lined up at a McDonald's chain in Jeju. (McDonald's Korea)The fast food giant has placed around 40 electric bikes late last year for its opera