Hyundai Mobis, the auto parts unit of Hyundai Motor, said Thursday it will display a slew of its latest future car-related technologies at the upcoming international electronics show in January.At the annual Consumer Electronics Show scheduled for Jan. 9-12 in Las Vegas, global automotive companies and auto parts makers will compete to show off driverless driving and eco-friendly vehicle technologies. “The theme of Hyundai Mobis’ exhibition at the upcoming CES is to offer a new and surprising ex

CJ Group Co-chairman Sohn Kyung-sik met with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam to discuss about ways to bolster cooperation in food, logistics and culture, the company said Thursday.Joining the two at the meeting held on Wednesday evening, local time, were key executive level officials including Chang Bok-sang, president of CJ Group Vietnam.  CJ Group Co-chairman Sohn Kyung-sik (left) meets with Vietnamese Prime Minister Nguyen Xuan Phuc in Vietnam on Wednesday. (CJ Group)“CJ

BMW Korea, the local unit of the German luxury carmaker, has named CEO Kim Hyo-joon as chairman, effective as of Jan. 1 next year, the company said Wednesday.Han Sang-yun, head of BMW Malaysia, will replace Kim as CEO starting March 1, 2018.“Kim will continuously assume responsibility for representing the Korean subsidiary of BMW Group as the CEO and Han Sang-yun will take charge of overall business operations. BMW Group Korea is now set to embark on its management succession process,” Hendrik v

Hyundai Motor is expanding its car-sharing venture to tap into the promising industry, by announcing a collaboration with a local ride sharing startup Luxi on Tuesday.Hyundai Motor has invested some 5 billion won ($4.6 million) in Luxi this August and plans to work together on developing carpooling algorithm and platform in search for new business opportunities. The project is undertaken by the firm’s future research and development project called Project Ioniq.Two years into business, Luxi has

Heads of Hyundai Motor and Kia Motors’ overseas corporate bodies are scheduled to meet in Seoul this week to discuss sales strategies for next year, the company said Tuesday. Some 50 representatives will attend the meeting scheduled to take place Friday at the company’s headquarters in southern Seoul.Hyundai and Kia will hold separate meetings, with Hyundai Motor Vice Chairman Chung Eui-sun expected to lead the meeting for Hyundai. The upcoming meeting, which comes after the one held in July, ma

Hyundai Motor, South Korea’s leading automotive company, on Sunday rejected Fiat Chrysler Automobiles CEO Sergio Marchionne’s comments that the two are discussing about a technical partnership.“Hyundai is not is in talks with FCA over a partnership on hydrogen propulsion,” the spokesperson of Hyundai Motor told The Korea Herald.　Marchionne said at the Alfa Romeo Museum in Arese, Italy on Saturday, local time, “There is the potential of a technical partnership with Hyundai, which already supplies

Hyundai Rotem, a tank and train-making affiliate of Hyundai Motor Group, signed a business agreement worth some 900 billion won ($831.1 million) with Iran for passenger rail cars production, the company said Sunday. Iran’s state-run rail Iranian Rail Industries Development and Hyundai Rotem will manufacture 450 diesel-powered rail cars for commuters in the next 78 months. (Hyundai Rotem)The diesel cars will run about 960 kilometers, connecting the capital Tehran and its suburbs, the company said

Hyundai Motor has unveiled its second-generation three-door Veloster hatchback, the first upgrade of the model in seven years.“Since the first-generation Veloster, the model has been perceived as an icon of challenge and innovation within the Hyundai brand due to its unique design,” Yang Young-seon, marketing team manager of Hyundai Motor, said during a media preview event held at Inje Speedium, a race track in Gangwon Province, on Tuesday. “In other words, Veloster is a ‘brand spicer.’”The spor

BMW Korea, the local unit of the high-end German automaker, has been adding a touch of diversity to the bestselling 5-Series, introducing high performance and luxury versions of the popular series, the company said Wednesday.“New versions of the top-selling 5-Series have been added to meet the demand of different consumer preferences,” said an official of BMW Korea.The seventh-generation new 520d, released here in February this year, was the best-selling midsize sedan among imported cars by mont

SsangYong Motor’s large SUV G4 Rexton received top rating in this year’s crash test conducted by the Korean transport ministry, the company said Monday.G4 Rexton earned five out of five stars in terms of collision safety in the 2017 Korean New Car Assessment Program, highlighted SsangYong Motor, the local unit of India’s Mahindra & Mahindra.SsangYong Motor‘s large size SUV G4 Rexton received top safety ratings in the transport ministry’s crash test. (SsangYong Motor)The annual KNCAP is held with

YEOJU, Gyeonggi Province -- In the heated market of sports utility vehicles, German luxury carmaker BMW is challenging other foreign competitors here by introducing the third-generation X3, a sport activity vehicle believed to have paved the high-end SUV market.On a Sophisto Gray-colored New X3 xDrive30d M Sport, The Korea Herald went for a 210 kilometer-test drive from the company’s newly built Seongsu showroom in eastern Seoul to Sejong astronomical observatory in Yeoju, Gyeonggi Province, on

PANGYO, Gyeonggi Province -- With companies and countries worldwide striving to gain an upper hand in self-driving vehicle technology, South Korea on Thursday unveiled its first fully automated shuttle dubbed Zero Shuttle.The level-five Zero Shuttle is a 12-passenger autonomous vehicle that will begin test runs in Gyeonggi Province starting in December.Automated vehicles are classified from level zero to five by the Society of Automotive Engineers, with level five referring to full automation in

Hyundai Motor has formed the AI Alliance Fund with Korean mobile carrier SK Telecom and Hanwha Asset Management to invest in startups that have innovative ideas and technology, the company said Thursday.The three companies will each pitch in 16.5 billion won ($14.4 million) to create the fund worth 50 billion won that is scheduled to kick off in the first quarter of next year.“The fund aims to bolster next-generation technological capabilities in analyzing global technology trends, forming coope

Hyundai Motor, South Korea’s top automotive company, signed an agreement for technical cooperation with French tiremaker Michelin to develop all-season electric vehicle tires, the company said Wednesday. The automaker expects the tire to heighten driving distance and energy efficiency of its electric vehicles.Hyundai Motor vice chairman Yang Woon-cheol and Florent Menegaux, chief operating officer of Michelin, signed the deal at Michelin‘s Research and Development Center in France.The new produc

South Korea’s three leading tiremakers recorded decreases in operating profits in the third quarter, largely due an increase of raw material prices, industry data showed Wednesday. The country’s No. 2 tiremaker Kumho Tire suffered the brunt of its complicated sales process, which has been going on since late last year, for the third consecutive quarter.It posted an operating loss of 200 million won ($179,650) between July and September this year, compared to the 9.5 billion won of operating prof

Hyundai Motor has opened Hyundai Cradle in Silicon Valley to serve as an innovation hub, support startups and discover future mobility technology, the company said Wednesday.Cradle stands for Center for Robotic-Augmented Design in Living Experiences.Along with looking into the areas of artificial intelligence, mobility, self-driving, smart city and robots, the center will aim to discover business opportunities created by robots and future mobility, the company said.“Hyundai Cradle will pioneer t

Global Entrepreneurship Week Korea 2017 was held this week under the theme of “Awakening the value of tomorrow via challenges of today,” highlighting the need for companies and entrepreneurs to place importance on inclusive growth. Some 1,700 participants ranging from students to entrepreneurs attended the two-day event hosted by the Korea Entrepreneurship Foundation and the Ministry of SMEs and Startups.Mentioning how profit-driven business models have led to social issues -- as seen in the 200

After months of declining sales due to frosty relations between Korea and China, Beijing Hyundai Motor posted improved sales in October, the company said Sunday.The 50-50 joint venture set up by Hyundai Motor and BAIC Motor sold 80,016 units last month, down 11.1 percent compared to 90,000 units sold in October last year, the company’s data showed. Although the company remained in the red, its performance in China is gradually recovering, compared to the 56.6 percent on-year sales drop seen in t

Hyundai Mobis, an auto parts unit of Hyundai Motor, has expanded archery classes held as part of its corporate social responsibility initiatives to students in China, the company said Thursday.The CSR program was launched there with the aim of enhancing the company’s brand image in the region. A former head coach of the South Korean national archery team, Yang Chang-hoon (third row, first right), and archers of Hyundai Mobis’ archery team pose for a photo during a corporate social responsibility

BMW Korea, the local unit of the Germany luxury carmaker, has been slapped with the highest-ever fine for a single automaker here of a total 60.8 billion won ($54.5 million) for sloppy certification documents of 28 models and selling 11 models made with unapproved auto parts, the government said Thursday. According to the Ministry of Environment, BMW submitted underrated emissions results for 81,483 units across 28 models -- 10 diesel-powered and 18 fuel-powered models. The latest finding concer