Students participate in the 5th Young Engineer Dream project hosted by the BMW Korea Future Foundation at its driving center on Yeongjongdo in Incheon last week. The three-day program was held to help students explore career paths, while introducing them to the history of BMW and Mini, as well as the carmaker‘s crucial technologies. (BMW Korea)

Volvo Car Korea, the local importer and distributor of the Swedish automaker, sold a record 6,604 units here in 2017, the company said Monday. But the sales growth has brought about a supply shortage, leading to a rise in consumer complaints.Led by the popularity of the XC60 midsize sport utility vehicle, the carmaker’s sales rose 26.9 percent year-on-year to 6,604 units in 2017 from 5,206 units in 2016, the company said. This marks the fourth consecutive year that the carmaker has reaped an ann

In response to growing imported car sales in South Korea, carmakers are striving to bolster brand loyalty by building centers for drivers where they can experience high-performance vehicles.BMW Korea, the local unit of the luxury German carmaker, took the lead by introducing its driving center on Incheon’s Yeongjongdo in 2014 amid skepticism surrounding the new automotive venue.Three years later, it has become one of the most well-known and popular places to visit among Korean drivers and touris

Hyundai Motor, South Korea’s largest automotive company by sales, has invested in the Singapore-based carpooling service Grab to tap into the Southeast Asian mobility market, the company said Thursday.Established in 2012, Grab is also known as the Uber of Southeast Asia, boasting a market share of some 75 percent in the region.It currently operates in eight Southeast Asian countries across 168 cities with 2.3 million users and 3.5 million rides made daily.“The convergence of Grab’s competitivene

Hyundai Motor Co.'s union and management reached a second tentative wage deal, company and union officials said Wednesday, a move that could conclude the long-drawn-out negotiations.   The deal would raise workers' basic monthly wages by 58,000 won ($54) and provide bonuses worth 300 percent of basic pay plus 3.2 million won in extra compensation.   The deal was reached in a meeting at Hyundai's main plant in Ulsan, an industrial city located about 410 kilometers south of Seoul.    Unionized wor

SK Innovation, South Korea’s top refiner, invited 150 university students to be judges in the selection of a public relations agency that will be in charge of the company’s PR campaign for 2018, it said.This is the second year SK Innovation has invited students to be judges to evaluate presentations by PR agencies competing to be chosen.“We believe this unprecedented decision-making process creates social value. Students can get firsthand experience of advertisement production,” SK Innovation sa

S-Oil CEO Othman al-Ghamdi shared the company’s goal for this year to make all out efforts to start operation of complexes under construction in its Onsan factory earlier this week.“Please continue to put in best efforts to successfully complete construction and begin operation of the project in the set timeline and budget,” al-Ghamdi said during the New Year Kickoff Meeting.The oil refiner invested 4.8 trillion won ($4.4 billion) in the mega project to install Residue Upgrading Complex and Olef

Posco, South Korea’s top steelmaker by sales, has been selected as the first company to work with UNESCO to provide an education program for out-of-school children in ASEAN countries, the company said Wednesday.The Posco 1% Sharing Foundation -- to which the firm’s employees donate 1 percent of their wages -- will carry out the project for three years until 2020, starting in Thailand this year.Thailand was picked as the first destination, as it has the highest proportion of children out of schoo

SsangYong Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra, has released a pickup-sport utility vehicle dubbed Rexton Sports in a move to take over the midsize SUV market, the company said Tuesday.“Rexton Sports is a premium open-style SUV that will refresh the midsize SUV market longing for change,” said SsangYong Motor CEO Choi Jong-sik during a media conference held in eastern Seoul. “It will solidify SsangYong as a traditional SUV powerhouse adding on to achievements reape

Joining the wave of technological innovations sweeping across the traditional manufacturing industry, the chairman of South Korea’s largest steelmaker also departed to join the Consumer Electronics Show in Las Vegas on Monday, the firm has said.“Posco Chairman Kwon Oh-joon, who unveiled the plans last year to incorporate technology across sectors the company manages, will examine the latest technological trends,” the company said.He is also scheduled to meet with companies in the smart industry

Amid intensifying trade protectionist measures against South Korea’s steel products by the US, Korea’s steel industry saw double digit growth in exports to the US last year, industry data showed Sunday. The total volume of steel shipments to the US dropped 4.9 percent on-year between January and November last year. But in value, the amount of exports rose 17.7 percent largely due to an increase in demand and price of oil country tubular goods, according to figures by Korea International Trade As

The construction of Hyundai Motor’s 596-meter Global Business Center in southern Seoul has run into a new problem with the Ministry of National Defense raising safety concerns.Talks between the Seoul Metropolitan Government and the Defense Ministry over whether to conduct flight safety and radio wave evaluations of the 105-story building took place earlier this week, the government said Thursday.The latest discussion was arranged by the Ministry of Land, Infrastructure and Transport to address c

SsangYong Motor, the local unit of India’s Mahindra & Mahindra, has released its first upgraded Korando Turismo minivan in five years to tackle the Korean market, the company said Wednesday.“The new Korando Turismo comes with a SUV-like design, equipped with enhanced smart features to satisfy drivers,” said Lee Seok-woo, a marketing manager at SsangYong Motor, during an unveiling event in eastern Seoul.“We plan to tackle the local minivan market through active promotional events.” SsangYong Moto

Socar, operator of a South Korean vehicle-sharing app, has entered Malaysia, seeking to expand into Southeast Asian countries, the company said Wednesday.This marks the first time that a Korean ride-sharing service has ventured overseas.“There is high growth potential for car-sharing in Malaysia, where car-sharing is a rather unfamiliar service. Like Korea, the population density in Malaysia is very high,” Socar said in a statement.Socar has set up 120 Socar zones and is offering some 240 vehicl

Hyundai Motor and Kia Motors set their combined sales target for this year at 7.55 million units on strengthened regional management and new models released, the company said Tuesday. By company, Hyundai Motor will aim to sell 701,000 vehicles at home and 3.9 million overseas, totaling 4.6 million units worldwide, according to the Data Analysis, Retrieval and Transfer service under the Financial Supervisory Service. Kia Motors has set its goal at 2.8 million vehicles worldwide by selling 520,000

Posco, South Korea’s top steel maker by sales, vowed to bolster new growth drivers by incorporating information and communications technology across a slew of key sectors.The company celebrates its 50th anniversary this year after wrapping up four years of restructuring last year.Through the overhaul, Posco reduced the number of local affiliates to 38 from 71 and overseas affiliates to 124 from 181, ultimately preventing some 400 billion won ($376 million) in annual losses, the company said. “We

A recent trend in South Korea’s auto industry is the rise in demand for pre-owned vehicles certified by import carmakers largely due to surging overall sales of the sector.Certified pre-owned vehicles are used vehicle that have been inspected, approved and guaranteed by the manufacturer, and the concept has worked to break the stigma of poor quality attached to used cars, boosting popularity of such vehicles here. “As import car sales continue to increase, more import carmakers will start CPO pr

Amid company restructuring led by creditors, Kumho Tire has officially separated from Kumho Asiana Group, the company said Friday.“Based on the Monopoly Regulation and Fair Trade Act, Kumho Tire has become a separate affiliate from Kumho Asiana Group,” the company said.The tire maker had filed for separation from Kumho Asiana Group to the Fair Trade Commission last month.Kumho Tire has also postponed wage and allowance payments for December, according to a notice sent by Kumho Tire Chairman Kim

Amid company restructuring works led by creditors, Kumho Tire has officially parted from Kumho Asiana Group, the company said Friday.“Based on the Monopoly Regulation and Fair Trade Act, Kumho Tire has become a separate affiliate from Kumho Asiana Group,” the company said.The tire maker had filed for separation from Kumho Asiana Group to the Fair Trade Commission last month.Kumho Tire has also postponed wage and allowance payments for December, according to a notice sent by Kumho Tire Chairman K

The state-run Korea Road Traffic Authority (KoROAD) has introduced a driving test that uses a head-up display for the hearing impaired, it said Tuesday. The head-up display, or HUD, refers to technology that projects navigation information onto the windshield. It is often installed in vehicles to boost driver’s safety and convenience.Before the introduction of the latest system, a tester seated on the passenger seat had to manually give directions to a hearing-impaired applicant, KoROAD said.  A