Genesis, the independent luxury brand of Hyundai Motor Co., on Wednesday unveiled a premium electric concept car ahead of the launch of the brand's first electric vehicle later this year. The Genesis X, showcased in a digital event and an offline debut in Los Angeles, is an EV-based high-performance Gran Turismo coupe and the brand's fifth concept car, Hyundai Motor said. The two-line lighting motif, applied throughout the interior and exterior, embodies the design language of future Genesis E

Hyundai Motor Co. said Tuesday it will suspend production at a domestic plant that produces the Ioniq 5 all-electric model due to a chip shortage. Hyundai plans to halt the operation of the No. 1 plant in Ulsan, 414 kilometers southeast of Seoul, which also produces the Kona subcompact SUV, due to lack of parts from April 7-14, a company spokesman said over the phone. The decision comes amid a lack of semiconductor parts used in the Kona's front vehicle camera system and a problem in Hyundai M

A look back on the airport’s last two decades

Hankook Tire & Technology, the world‘s sixth-largest tiremaker by sales, has spent time and resources in research and development of high performance tires in order to sharpen its competitive edge over global rivals. That investment seems to have paid off, as the firm has landed a series of original equipment tire supply deals for some of the finest cars in the world. According to the Seongnam, Gyeonggi Province-based firm, Hankook’s tires have been chosen for the most advan

BMW Group Korea will introduce 10 new cars to local customers this year, including electric vehicles and new Mini models, and will expand its facilities here, adding new service centers, showrooms and expanding its existing logistic center to improve customer satisfaction, the automaker said Sunday. In its first launch this year, the automaker in February rolled out the second-generation BMW 4 Series, to which the brand’s new “design language” has been applied. The renewed

Shareholders OK Cho’s leadership despite NPS’ veto

Hyundai Glovis is expanding its cargo business to use its pure car and truck carriers for break-bulk transport to diversify its business portfolio, the company said Thursday. As freight owners are experiencing shortage of shipping containers, Hyundai Glovis seeks to utilize its car and truck carriers, the vehicle delivery arm of South Korea’s Hyundai Motor Group, explained. Break-bulk shipping is transporting cargo or goods that cannot fit in standard-size shipping containers or cargo

‘Smooth’ process to acquire Asiana so far, but slow COVID-19 vaccine rollout to pose challenge

Incheon International Airport Corp. will host the fifth Annual World Aviation Conference on Monday in celebration of its 20th anniversary. The event, which will take place at Paradise City in Incheon and will be livestreamed on YouTube for seven hours, will focus on the age of coronavirus and the post-pandemic future of the aviation industry and airports around the world, the corporation said. Dubbed “Innovation Beyond Boundaries: The New Airport Paradigm,” the event will feature s

With Dream Gream 2.0, official dealer of Mercedes-Benz aims to expand social outreach, support more students with artistic dreams

Kia Corp.'s new large sedan, the K8, received a strong response from the domestic market, with first-day preorders setting a record high among its sedan models, the nation's No. 2 carmaker said Wednesday. Kia started receiving orders for the K8, a direct follow-up to the K7, known as the Cadenza in the United States, on Monday ahead of the model's domestic launch slated for early April. Preorders for the K8 reached 18,015 units on the first day, outpacing the K5's preorders of 7,003 units in N

South Korean low-cost carriers (LCCs) are struggling with high indebtedness stemming from huge deficits due to the coronavirus pandemic, data showed Wednesday. The debt-to-equity ratio of three major LCCs -- Jeju Air Co., Jin Air Co. and T'way Air Co. -- ranged from 430 percent to 517 percent as of the end of 2020, according to their business reports. A key barometer of financial soundness, the ratio is calculated by dividing a company's total liabilities by its stockholders' equity. Jeju Air

Kumho Tire said Tuesday it will sell its natural rubber processing plant in Vietnam to focus on its core business. The second-largest tire maker in South Korea said it has struck a deal with a joint venture between Korean automaker Hyundai Motor and Thanh Cong Group of Vietnam to sell its rubber factory. It plans to finalize the deal by May. The company opened the $4 million factory in southeastern Vietnam in 2007, which can supply rubber for 6 million tires a year.  The tire maker has b

SsangYong Motor's annual financial report was rejected by its external auditor due to its heavy debt, the cash-strapped automaker said Tuesday. SsangYong Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra, said in a regulatory briefing that Samjong KPMG gave a disclaimer of opinion for its 2020 financial report, questioning its ability to continue its business. The SUV-focused automaker logged 449.4 billion won ($398 million) in operating losses last year, increasing

In a company first, recreational vehicles accounted for more than half of Hyundai Motor and Kia Corp.’s annual sales so far this year, the automakers said Sunday. According to the latest sales data, Hyundai Motor sold 87,923 vehicles during the first two months of this year, of which 41,027 units were classified as recreational vehicles, accounting for 46.7 percent. Recreational vehicles by Korean classification are designed for recreational purposes such as camping and include the likes