Innocean Worldwide, an advertising arm of Hyundai Motor Group, will host the Marvel Run 2018 at the Nanji Hangang Park as part of its efforts to boost future competitiveness, the company said Thursday.Various venues incorporating Marvel characters, including a Hulk concept energy drink zone, will be offered. Poster of Marvel Run 2018 (Innocean Worldwide)The 5 kilometer-long sports event will take place from Nanji Hangang Park to World Cup Stadium Park located in Sangam-dong, eastern Seoul, on Ap

PYEONGTAEK, Gyeonggi Province-- Volvo Trucks Korea, the No. 1 commercial vehicle importer by sales, rolled out two models of the FE cargo series seeking to target customers searching for mid-to-large trucks as demand in the local logistics market continues to diversify, the company said Tuesday.The 9.5 ton 6x4 cargo designed to transport big volumes, and a smaller 5 ton 4x2 truck for delivering freight in the city are the first-ever semi-large size trucks introduced here.“We have launched the FE

Mercedes-Benz Korea, the local unit of the German high-end carmaker, has paid a fine after being sued by the Ministry of Environment for failing to comply with a special act that binds carmakers to sell a certain portion of eco-friendly vehicles annually, the ministry said Monday.For the first time ever among local and import automakers, the ministry sued Mercedes-Benz Korea in August last year for failing to meet its annual green car sales quota.“Mercedes-Benz Korea sold roughly 400 units of gr

Hyundai Motor, South Korea’s No. 1 automotive company, and its sister company Kia Motors swept six awards at the Red Dot Design Award this year, the companies said Monday. Arranged by Germany’s Design Zentrum Nordheim Westfalen, the Red Dot Design Award is one of the three most recognized design awards alongside the iF Design Award and IDEA Design Award. Out of the six awards, the two automakers won a combined five awards for transportation design. Five models of Hyundai and Kia that won the tra

After years of prosperity, the steel industry is facing slower demand due to market saturation and the increasing reuse of steel amid rising concerns over its impact on the environment. Director general of World Steel Association Edwin Basson (World Steel Association)Steelmakers around the world, however, should face these challenges and join efforts to convince customers that the metal product still remains the foundation of a sustainable future, said the head of World Steel, an organization re

After spending the last two years resolving issues related to emissions in the aftermath of “dieselgate,” Audi Volkswagen Korea, the local distributor of the German carmakers, is now devoted to regaining drivers’ trust by transforming itself, the company said Friday.“We know we have disappointed many people who have placed their trust in Audi Volkswagen Korea. I wish to take this opportunity to express my sincere apology,” said Rene Koneberg, group managing director of Audi Volkswagen Korea, in

SK Lubricants, a wholly-owned lubricant unit of SK Innovation, submitted a report to the government this week as its first step to go public in May, the company said Thursday.The company expects to secure between 1.2 trillion won ($1.1 billion) and 1.5 trillion won through the initial public offering, which would be the biggest IPO size this year so far.Earlier this week, board members of SK Innovation agreed to offer 12,765,957 shares out of its 40 million outstanding shares. SK Lubricants also

Upon its sell-off to China’s state-run tiremaker Qingdao Doublestar, Kumho Tire vowed to bolster its brand value through autonomous management in efforts to normalize its business, the company said Thursday.Kumho Tire, South Korea’s No. 2 tiremaker by sales, ended a standoff with its labor union on April 1, with the union agreeing to accept foreign investment, therefore preventing the ailing company from filing for court receivership.During a visit to Korea to persuade the union and the public l

Innocean Worldwide, an advertising arm of Hyundai Motor Group, has launched a campaign here to address the so-called “black dog syndrome” in South Korea, in collaboration with the animal protection organization Care.The “black dog syndrome” refers to a phenomenon observed at dog shelters here: Dogs with black hair stay longer in shelters than lighter colored dogs.  An image from Innocean's YouTube video to raise awareness of the "black dog syndrome." (Innocean Worldwide)The 4 minute 33 second cl

Elliott Advisors, a unit of US activist hedge fund Elliott Management, said Wednesday it holds more than a $1 billion stake in Hyundai Motor Group and urged the country’s leading automotive group to share detailed plans to improve the balance sheets and returns to shareholders.This comes a week after Hyundai Motor Group’s announcement for a grand governance reform to streamline its complex cross-sharing structure in response to mounting pressure from the government. (Yonhap)While welcoming Hyund

Ford Sales and Service Korea launched Wednesday the flagship 2018 New Mustang, boasting upgraded driving performance with aims to step up performance in the local auto market.“We hope the new Mustang will attract previous customers alongside drivers seeking an exciting driving experience on enhanced performance, technology and design,” said Ford Korea CEO Jung Jae-hee during a launch event in southern Seoul.Mustang was ranked the best-selling sports car worldwide between 2015 and 2016 by market

Kia Motors, the sister company of Hyundai Motor, rolled out a fully changed version of its K9 flagship sedan with the aim of dominating the local large size sedan market, targeting Mercedes’ E-class as its rival, the company said Tuesday.“I am confident that customers will be able to experience Kia on a whole new level through the newly launched K9,” said Kia Motors CEO Park Han-woo at the media event held in Gangnam, southern Seoul. “Completing the second generation lineup of K-series models, t

South Korea’s No. 1 steelmaker Posco, which began its saga in the south of the nation in the 1960s, now seeks to dominate the global steel industry on premium products and smart factory operations.It runs two steel mills in Korea, one in Pohang, North Gyeongsang Province, and another in Gwangyang, South Jeolla Province, constructed in 1992. Worldwide, it operates factories and business networks across some 50 countries.“Posco has rapidly expanded into about 50 countries in the past 25 years. Bac

Kumho Tire’s labor union came on board last minute with its creditors to approve of China’s Doublestar as the new owner of the tiremaker, the company said Friday. “We have reach a consensus to accept the injection of capital from Doublestar,” said a joint statement by Kumho Tire and the labor union.Korea Development Bank chief Lee Dong-gull (left) shakes hand with the head of the labor union after a five hour meeting. The union has agreed to accpet China's state-run tiremaker Doublestar as its n

Lizz Warner, 26, senior manager of US-based online media company Buzzfeed, met Mexican Olympian skier Robert Franco, 24, through the popular dating app Tinder during their stay in South Korea for the PyeongChang Winter Olympics last month.To make their first date in PyeongChang, Gangwon Province, extra special, they agreed to film their meet-up on camera, and posted it on social media-- Snapchat, Facebook, Instragram, YouTube. The video instantly captured attention.The viewer count of the two vi

Hyundai Motor Group on Wednesday announced long-awaited plans to overhaul its governance structure in a move to bolster future growth and shareholder value amid growing pressure from the government for the country’s leading automotive group to overhaul its complex cross-sharing holding structure by the end of this month.As the first and major step, changes will be made to the auto group’s business structure.The board members of the group’s auto parts making unit Hyundai Mobis and logistics affil

SsangYong Motor, the local unit of Indian automaker Mahindra & Mahindra, stood firm as the No. 1 best-selling automaker in the compact sport utility vehicle segment last year on the continued popularity of Tivoli, the company announced Wednesday.A total 55,280 units of the Tivoli SUV were sold here last year, compared to 45,021 units sold in 2015 when the model was launched.Tivoli marks the first model released after SsangYong’s the merger with Mahindra & Mahindra.SsangYong Motor underlined desi

Posco, South Korea’s leading steel company, will implement a new bidding system next month that limits excessively low bids for purchasing materials and equipment, the company said.The new system will help eliminate companies from casting bids under 85 percent of the average price, the company said. The average price is the average of the standard price and bids.As the first major local company to implement the system, Posco hopes to foster mutual development with small and midsize suppliers, th

With four days left until the deadline creditors of Kumho Tire have set for the labor union to agree on injecting foreign capital to save the ailing company, midsized South Korean tiremaker Tire Bank on Tuesday officially announced its willingness to buy Kumho Tire.The abrupt entrance of the Daejeon-based tiremaker into the picture has further complicated the sale of Kumho Tire, with experts casting doubts over the financial capacity of Tire Bank in coming up with 646.3 billion won ($603.9 milli

BMW Korea, the local unit of the German luxury carmaker, on Tuesday highlighted the comfortable driving experience and sporty design of the BMW new 6-Series Gran Turismo.“The new 6-Series Gran Turismo has been reborn as a completely new model. Like that of a large size flagship sedan, its design and performance has been pulled up to another level,” BMW Korea said in a statement.It was launched here in September 2017.The new model offers the most spacious storage room among similar BMW sedans due