South Korea’s Hankook Tire & Technology Group said Tuesday it has been ramping up its corporate social responsibility efforts and is diversifying support for mobility services at social welfare centers across the nation.  The company established the Hankook Tire Foundation in 1990 to fulfill its responsibility to support those who experience mobility difficulties, under its slogan of “driving for happiness.” Since 2008, it has been offering a bus service for social

Hyundai Motor Group Executive Vice Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo met Monday and discussed further partnerships over future battery business, the firms said. Chung visited LG Chem’s EV battery production site located in Cheongju, North Chungcheong Province on Monday morning. It was the first official meeting between the two tycoons. Chung was accompanied by Hyundai Motor Group’s R&D President Albert Biermann, President Seo Bo-shin, who is in charge of

Global automakers have been striving to make progress in developing their own platforms and battery systems for electric vehicles that can be applied to all brands for efficiency and cost reasons. Detroit-based automaker General Motors has a presence in 60 markets with 11 plants, including a major research and development center in South Korea. The US automaker is betting big on its latest battery system called Ultium which was unveiled in March, to be applied in different markets while also

Hyundai Motor Group Executive Vice Chairman Chung Euisun is scheduled to meet LG Group Chairman Koo Kwang-mo next week to discuss electric vehicle battery business, industry sources said Friday.  This comes less than a month after the heir apparent of South Korea’s largest automaker met Samsung Electronics Vice Chairman Lee Jae-yong to discuss next-generation EV batteries in Cheonan on May 13. They reportedly exchanged opinions on the current situation and the directions for develop

Han Sung Motor, an official dealer of Mercedes-Benz Korea, said Wednesday that it has completed the preliminary match for the Mercedes Trophy Korea 2020 Give ’N Golf tournament. Some 380 Han Sung Motor customers participated in the match, called the Han Sung Classic, on May 25, June 8 and June 15 at the Gapyeong Benest Golf Club and Anyang Benest Golf Club, the company said.  Prizes already awarded included products from KGC Korea Ginseng Co., Swedish bedding brand Duxiana and prem

Hyundai Motor Group said Wednesday that it will open the country’s largest driving center, called the HMG Driving Experience Center, in the first half of 2022 to offer customers new opportunities to experience the brand and practice driving.  The automaker said the facilities will be built within the driving test site of local tiremaker Hankook Tire Technology in Taean, South Chungcheong Province.  A ceremony to celebrate the partnership was held at Hyundai Motor Group’s

Porsche Korea said Wednesday it sold over 4,200 units last year for the second consecutive year, highlighting its achievement in the local market along with its effort to introduce a more varied lineup of models here.  “(Porsche Korea’s sales performance has paved) the way for Porsche’s future product strategy, which focuses on emotional gasoline, powerful hybrid and progressive electric vehicles,” said Porsche Korea CEO Holger Gerrmann during a press conference he

Amid the heated competition to develop autonomous driving technology, US automaker General Motors’ self-driving technology unit Cruise made an unexpected announcement last month that it will lay off workers to tighten its belt during the COVID-19 pandemic.  Cruise CEO Dan Ammann sent an email to staff that layoffs of some 150 out of 1,800 workers will include an engineering team in California that works on Lidar, a critical technology for autonomous driving which uses pulsed laser l

South Korean air carriers are opening more international routes from July -- suspended over the COVID-19 pandemic since March -- by focusing on recovering cargo volumes instead of depending on bleak passenger demand, according to industry sources Monday. According to Korean Air, it plans to resume Incheon-Dallas and Incheon-Vienna routes from July.  The company said it will also increase the number of routes to destinations in the US and Europe, including to Los Angeles, San Francisco, A

Mahindra & Mahindra, the Indian automaker that owns a 75 percent stake in SsangYong Motor, has hinted at giving up control of the struggling South Korean automaker amid snowballing losses from COVID-19, industry sources said Sunday.  Mahindra’s Managing Director Pawan Goenka reportedly told reporters last week that “SsangYong Motor needs a new investor. We are working with the company to see if we can secure investment.” Goenka, who is also the chairman of SsangYong

Local automakers including Hyundai Motor Group and GM Korea have joined hands with the government for guarantee funds to support auto parts makers hit by the COVID-19 pandemic, officials said Thursday. An agreement to the effect was signed in Seoul by the automakers and the Ministry of Transport, Infrastructure and Energy and the Ministry of SMEs and Startups.  Transport Minister Sung Yoon-mo said that the fund would “work as a liquidity supporting net for midsized companies with l

Nissan Korea, which is shutting down its business operations in South Korea from 2021, has sold out the last batch of its cars with discount promotions in a day, market sources said Wednesday. According to industry insiders, Nissan Korea sold its flagship sedan Altima at a 10 million ($8,383) to 13.5 million won cheaper price, while Maxima was priced 14.5 million won lower. They are about 35 percent cheaper than the original prices, which were around 29.1 million won and 45.2 million won, res

BMW Group’s premium compact car brand Mini is hosting the New Mini Countryman’s World Premier event in Yongin, Gyeonggi Province, on June 24, Mini Korea said Wednesday. It is the first time in the Mini’s 60-year history to hold a world premiere in Korea, Mini Korea said.  The company said the Korean market’s geographical and national characteristics suit the Mini brand’s identity.  “BMW Group acknowledges Korea as a market where traditional and m

Renault Samsung Motors’ subcompact QM3 sport utility vehicle is one of the bestselling vehicles in a passenger car lineup that includes the SM3 and SM6 sedans, and the XM3 and QM6 SUVs. With practicality and pricing having driven a boom in the local market for compact SUVs in recent years, the QM3 has benefited. It has enjoyed great popularity in the seven years since its release.  While the model was popular for its dainty design and high fuel efficiency, it underwent significant

HDC Hyundai Development on Tuesday said it hopes to renegotiate its deal for acquiring South Korean flag carrier Asiana Airlines given the business turmoil caused by the COVID-19 pandemic. The midsized South Korean builder has requested Asiana’s creditors and its largest shareholder Kumho Industrial to modify the conditions of the takeover. The company said it has not received “sufficient and trustworthy data” about Asiana’s financial status or an explanation for the c

Hyundai Motor Group said Monday that with the launch of new models and shifting consumer tastes seeking more driving comfort, sales of its sedans recorded a three-year high.  According to South Korea’s largest automaker, sedans accounted for 48.5 percent of total passenger car sales in the January-May period, the highest figure since 2017, when it hit 50.1 percent.  In 2018 and 2019, sedan sales during the first five months accounted for 43.8 percent and 43 percent, respective

Hyundai Motor Group announced Monday that it will provide its sales and auto parts dealerships 55.7 billion won ($46 million) in subsidies to stabilize their operations amid the COVID-19 pandemic. Auto dealerships of its main affiliates -- Hyundai Motor, Kia Motors and Hyundai Mobis -- will be given the subsidies to help them overcome the economic downturn. The size is a 70 percent increase from last year’s funding. Some 1,860 Hyundai Motor and Kia Motors dealerships across the country

Betting big on the South Korean market with a focus on superior customer service, Volvo Cars Korea has introduced a lifetime auto parts warranty here -- the first such guarantee by a carmaker here -- while vowing to increase its network by 25 percent. “The introduction of lifetime warranty will dramatically decrease consumer concerns over the maintenance cost of an imported vehicle, as well as enable them to enjoy the attractive features of our vehicles for a long time,” said Volvo

SK Group, South Korea’s third-largest conglomerate by revenue, has been reviewing to invest some 94.2 billion won ($78 million) for a 10 percent stake in Asia’s largest low-cost carrier Air Asia, after the Korean conglomerate was recently approached by the firm, industry sources said Friday.  SK Southeast Asia Investment Corp., the group’s investment arm operating in the region, recently received a proposal from the Malaysian-flagged Air Asia to make an investment for a

Korean air carriers that have been gradually starting to resume their international routes amid slower spread of COVID-19 are facing hurdles to operating China routes over authorities’ strengthened landing conditions, according to industry sources on Friday.  According to full service carrier Korean Air, it had planned to operate 32 out of 110 international routes from June. Those routes include flights to Chinese destinations Beijing, Shanghai, Guangzhou and Qingdao, flying three t