Hyundai Motor and affiliate Kia Motors  warned of another $2.9 billion of provisions related to engine issues, bringing their total hit from the years-long quality problem that has tarnished their credibility to nearly $5 billion. Hyundai Motor Group said on Monday their third-quarter earnings would reflect quality-related costs of a combined 3.36 trillion won ($2.94 billion), of which Hyundai accounted for 2.1 trillion and Kia for 1.26 trillion. Hyundai and Kia, together the world’

BMW’s 5 and 6 GT Series return with sharper design and stronger functions

South Korea’s automotive industry has recovered to see sales and production grow by over 20 percent on-year in September, government data showed Monday. According to the data from Ministry of Trade, Industry and Energy, the production of Korean cars increased by 23.2 percent in September, compared to the same time last year. Overall sales went up as well. In September, 137,771 Korean cars were sold in the domestic market, up 22.2 percent compared to the year earlier. The ministry als

Jin Air Co. said Monday it will begin operating a passenger plane converted to carry cargo to offset a sharp decline in air travel demand amid the coronavirus pandemic. Jin Air plans to deploy the B777-200ER jet, which has been converted into a cargo plane under approval from the transport ministry, on routes from Incheon to Bangkok and Qingdao from Saturday, the company said in a statement. The 315-seat converted plane will make two flights a week on the Bangkok route and three flights a wee

South Korean airlines will not impose fuel surcharges on international routes in November on low oil prices due to the coronavirus pandemic, industry sources said Monday. The surcharge for one-way tickets on international routes will remain at zero next month, unchanged from a month earlier, according to the sources. Local air carriers' fuel surcharges on international routes will stay at zero for the eighth consecutive month, raising expectations that the zero rate may last down the road. L

   South Korea's top automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. may see their combined share in the European market surpass 7 percent for the first time this year, industry watchers said Friday. Hyundai Motor and Kia Motors sold 101,322 vehicles in Europe in September, down 0.8 percent from a year earlier and representing a 7.8 percent market share, according to the two companies. Hyundai's sales declined 4.6 percent on-year to 49,439 units in Europe last month, w

Volkswagen Korea unveiled the new seventh-generation Jetta at a press show on Thursday as it posted sales of over 10,000 units during the first three quarters of 2020. The new model comes at a price of around 27 million won ($23,600), while its prestige model is priced at just over 29 million won. The Jetta, since its birth in 1979, has sold 17.5 million units around the world. Of them, 17,000 have been sold in South Korea. As for its Korea operation overall, Volkswagen Korea said its sales w

Starting his first day as Hyundai Motor Group’s chairman on Thursday, Chung Euisun attended the government’s hydrogen economy committee meeting, riding there in his company’s first hydrogen fuel cell vehicle, the Nexo. Prior to the meeting, Chung had agreed to establish a joint entity with the government to expand the number of hydrogen charging stations across the country, clearly showing his commitment to creating a hydrogen ecosystem. During the meeting, Hyundai Motor s

Facelifted pickup truck has more power than rivals, advanced off-road technologies

Air Busan Co., the budget carrier unit of Asiana Airlines Inc., on Thursday resumed flights to the Chinese city of Qingdao to meet travel demand from businessmen. Air Busan will offer one flight a week on the Busan-Qingdao route from Thursday after suspending the route for more than seven months due to the coronavirus impact on the airline industry, the company said in a statement. In July, the carrier resumed the Incheon-Shenzhen route, but other Chinese routes to Ningbo, Chengdu, Qingdao, Ya

Bentley Motors Korea unveiled Wednesday the revamped luxury sports sedan Flying Spur with the popular V8 powertrain, for the first time in South Korea. 　 In a media preview event held at a hotel in Gangnam, southern Seoul on Oct. 8, the head of Bentley Motors Korea Warren Clarke presented the Flying Spur V8 and also revealed the company’s brand strategy for the upcoming years. Prior to the global launch this week, Bentley Motors Korea ran a private preview event to allow a peek for pros

The game is back on between import vehicle archrivals, intensified by Mercedes-Benz Korea’s release of the newest E-Class this week. To drive away the enthusiastic runner up BMW and to maintain its position as Korea’s favorite imported car brand, Mercedes-Benz has returned with a revamped version of the best-selling model Tuesday. The new E-Class is a revamped version of the 10th-generation model, which the automaker hailed for having achieved a “monumental milestone”

New chairman of world’s fifth-largest automotive company symbolizes younger, aggressive entrepreneurship

Under new leadership, automaker aims to realize future mobility via robotics, urban air mobility, smart city projects

Hyundai Motor Group Executive Vice Chairman Chung Euisun is set to take the helm of the nation’s largest automaker through the group’s emergency board meeting on Wednesday morning, according to industry sources on Tuesday. This promotion is interpreted as reflecting growing concerns that a chairman should lead the group and has responsible management as the automobile industry has been suffering from the recent coronavirus. His father Chung Mong-koo, 82, who was hospitalized in J