Audi Volkswagen Korea, the domestic distributor of the two German brands, is in the final stage of resuming sales here after a year-long sales ban, mapping out a new online sales plan and ordering recalls of models affected by the diesel emissions scandal, the company said Monday.Volkswagen Korea said it is currently in talks with Korea’s largest mobile messenger service Kakao Talk to review the possibility of selling its vehicles through the Kakao Mobility application by as early as the end of

Tesla Korea is ramping up efforts to take over the local electric vehicle market, expanding its supercharger network here.The electric carmaker will open its eighth supercharger station at Lotte World Tower in Jamsil, southeastern Seoul this month and complete building six more by the end of the year, the company said Sunday.With six more superchargers to be established nationwide, including Yongsan in Seoul, Pangyo in Gyeonggi Province and Seogwipo on Jeju Island, the total number of supercharg

Creditors of Kumho Tire Co. are set to agree on a debt restructuring plan for the financially troubled tiremaker as the company's self-rescue plans failed to meet their expectations, main creditor Korea Development Bank said Thursday. On Sep 12, Kumho Asiana Group submitted a self-help plan for its tire unit to the KDB-led creditors following the collapse of a deal to sell the country's No. 2 tiremaker to China's Qingdao Doublestar.     "After reviewing the self-help program, creditors found it

Mercedes-Benz CSR Committee held this week a variety of CSR activities including the “FC Kids Benz” football class at Yeonpyeong Elementary School located in the Yeonpyeong Island, the front line of the West Sea in celebration of the Chuseok holidays, the company said Thursday.For two days from Tuesday, some 20 employees of the Daimler affiliates in Korea and all 66 students of Yeonpyeong elementary school participated in a football class. During the four-hour class, the students were given less

South Koreans in their 60s are spending less money than those in other developed countries, showing a decline in consumption propensity, a report showed Thursday.The propensity to consume among those in their 60s decreased 10.1 percentage points to 68.1 percent in 2015 from 78.2 percent in 2003, according to a report by the Bank of Korea on aging society and consumption.“Generally, older people tend to show higher consumption propensity than middle-aged men and women. But elderly Koreans are sho

Dongfeng Yueda Kia, a joint venture between Kia Motors and Dongfeng Motor, released the Pegas subcompact sedan designed exclusively for the Chinese market to improve sales there, the company said Wednesday.The sedan unveiled at the 2017 Auto Shanghai show targets Chinese urban drivers looking for an economical and efficient first car.Boasting maximum safety among cars in the same segment, the rear disc brakes and back warning system and immobilizer are installed in key trims, the company said. D

KT has notched up its smart home artificial intelligence technology this year, introducing voice command-based AI dubbed GiGa Genie.The Internet of Things television set-top was created to realize smart home technology by recognizing voice commands, according to the company. The 21.2-centimeter-tall cylindrical device was launched January this year.“The AI-based set-top is a cluster of technologies developed by KT on years of operation as the country’s leading GiGA Internet and IPTV service prov

Volvo Car Korea, the local importer and distributor of the Swedish automaker, rolled out a fully changed second-generation model of the carmaker’s best-selling XC60 midsize SUV in the hope of catching up with rivals in the premium luxury auto market here, the company said.According to the Swedish carmaker, the new Volvo XC60 was made as an urban ride built on the carmaker’s latest platform and powertrain. Volvo’s first Korean designer Lee Jung-hyun focused on coming up with a sophisticated Swedi

Until August this year, Hyundai Mobis, South Korea’s biggest auto parts maker by sales, has sealed orders worth a total $4.8 billion in the US and China between, up about five times compared to last year, the company said Monday. “The orders are meaningful in that they were made on quality recognition of our products among partners in North America and China,” said an official of Hyundai Mobis.Last year’s annual total had reached $1 billion. The company does not have more orders to close in the

South Korea’s Hyundai Engineering said Monday it sealed a $330 million deal with Kingline Development Nigeria to construct a power plant in Ondo, Nigeria.This is Hyundai Engineering’s first engineering, procurement and construction project in Nigeria. Hyundai Engineering CEO Sung Sang-rok and Kingline Development Nigeria CEO Kim Seung-wook signed the deal to supply a 550-megawatt gas turbine at the Hyundai Engineering headquarters in central Seoul, the company said. The power plant will be built

In a race to gain a foothold in autonomous driving technology, Samsung Electronics, South Korea’s leading smartphone maker, has formed a fund worth $300 million to step up development in the self-driving industry.　“The $300 million Samsung Automotive Innovation Fund will focus on securing autonomous driving and connected car technologies,” the tech giant said through a press release.Self-driving and connected car technologies include: smart sensors, machine vision, artificial intelligence, and c

The Ministry of Environment has finalized subsidies for Telsa Model S 90D sedans based on eased regulations for the total time it takes to fully charge the electric vehicle, the ministry said Friday. Prior to the change in July, the 14 million won ($12,319) central government subsidy and provincial government subsidy was limited to electric vehicles that take less than 10 hours per charge.Subsidies offered by each provincial government differs, ranging from 3 million to 12 million won. Seoul cit

Audi Volkswagen Korea, the domestic distributor of the two German brands, named Rene Koneberg, the former managing director of Audi Hong Kong and Macau, as its new group managing director, the company said Friday. Koneberg replaces Johannes Thammer, who left for Germany in June, a month before his term in Seoul was to end on July 31. The Korean branch of the German carmaker was being led by two leaders including Thammer and Marcus Hellmann. Hellman, the co-group managing director, will continue

Chinese motorists report a high level of satisfaction with vehicles and service provided by Hyundai Motor and Kia Motors, according to a survey by China Association for Quality.Beijing Hyundai topped the sales service category in this year’s China Automobile Customer Satisfaction Index jointly with SAIC Volkswagen and GAC Toyota for the fourth consecutive year, the company said Thursday.Despite Korea’s frosty ties with China, Dongfeng Yueda Kia also came third in the sales service category. Rela

Posco Daewoo, the trading arm of Korean steel giant Posco, hosted a two-day Global Staff Conference at Shanghai, China, to search for ways to bolster its steel and grain business globally, the company said Thursday.“The company’s staff working overseas are valuable assets directly linked with our sales capacity, expanding local networks and spotting new business opportunities,” said Posco Daewoo CEO Kim Young-sang.Kim and some 50 employees from 34 overseas branches shared thoughts on ways to exp

Hyundai Motor, South Korea’s leading automaker, said Wednesday it sealed a deal with Hyundai Oto Komersial Indonesia to supply 500 units of the Xcient heavy truck. The volume of the latest deal is Hyundai’s biggest for trucks, the company said.Hyundai Motor said it would aim to expand its presence in Indonesia’s commercial vehicle market, which is currently monopolized by Japanese commercial vehicle brands.Lee In-cheol (left), senior vice president of Hyundai Motor's commercial vehicle export di

Market rumors are circulating that Hyundai Motor is looking to acquire the world’s seventh-largest auto manufacturer Fiat Chrysler Automobiles despite the automaker’s vehement denial. And a local analyst said Tuesday that Korea’s largest auto company would leap forward to become the world’s No. 1 if the deal goes through.Lee Jae-il, an analyst in charge of automobiles at Eugene Investment & Securities, said in a report that Hyundai Motor would benefit from the acquisition due to an expanded port

Renault Samsung Motors, the South Korean unit of French carmaker Renault, has released a gasoline-powered version of its popular QM6 midsize SUV, targeting drivers who drive in the city and prefer SUVs, the company said Sunday. The press took the QM6 GDe gasoline model for a test drive from Gyeongwonjae Ambassador Incheon to Grand Hyatt Incheon, totaling 60 kilometers earlier this month.Before the test drive, CEO of Renault Samsung Motors Park Dong-hoon told reporters, “SUVs are no longer for pe

HWASEONG, Gyeonggi Province -- Genesis, a luxury auto brand spun off from South Korea’s Hyundai Motor, unveiled its third model, the G70 sedan, with aims to expand its presence in the high-end segment, the company said Friday. 　Amid Hyundai’s weak performance at home and in the US, Genesis premium cars have been gaining popularity, which makes the first G70 sedan rolled out under the independent Genesis brand an important model. (From left) Lee Sang-yup, head of Genesis Styling, Luc Donckerwolke

Posco Energy, the power-producing unit of steelmaker Posco, said Thursday it replaced old energy devices for two households as part of its energy dream campaign to support the energy-poor population here.Energy-poor refers to the roughly 1.5 million households in Korea that spend more than 10 percent of their income on electricity, fuel, heating and other energy-related expenses.Employees of Posco Energy and Incheon LNG combined cycle power plant participate in the energy dream campaign. (Posco