Mercedes-Benz Korea said Friday it appointed Thomas Klein, the current president and CEO of Mercedes-Benz Middle East, as the new president and CEO of Mercedes-Benz Korea, effective Jan. 1, 2021. Klein began his career with Daimler AG at the University of Cooperative Education program of the Mercedes-Benz plant in Germany in 1999. In 2014, Klein was appointed managing director of Mercedes-Benz passenger cars in South Africa, before he assumed responsibility for sales at Daimler AG in Germany

Hyundai Motor participated in the IFA 2020 exhibition in Berlin, Germany, for the first time, demonstrating its brand vision based on eco-friendly vehicle technology, the firm said Friday. The automaker, which is pushing to shift from a traditional car manufacturer to a smart mobility company, aims to strengthen its leadership in eco-friendly mobility technology in the European market. In Europe, demand for eco-friendly cars such as hydrogen and electric vehicles is rapidly increasing due to s

Porsche Korea officially launches Macan GTS to expand compact SUV lineup in Korea

Joining in on the boom for pickup truck models in Korea, Fiat Chrysler Automobiles has seen preorders for the latest All-New Jeep Gladiator sell out within two weeks, the automaker said Thursday. FCA Korea launched the All-New Jeep Gladiator, a versatile midsized pickup truck, on Aug. 17 in Korea with 300 units available to be preordered and delivered within this year. “The All-New Jeep Gladiator has proven its unrivaled presence winning many awards, and was chosen as the 2020 North Am

Sales of Japanese cars in South Korea increased for the first time since a nationwide boycott of Japanese products began here last year, data showed Thursday. According to the Korea Automobile Importers and Distributors Association, the number of Japanese automobiles newly registered in August was 1,413, up 1.1 percent from the same time last year, when it stood at 1,398. The increase comes 13 months after a trade conflict broke out between the two countries in July 2019 and triggered the b

Despite months of back-and-forth and attempts at breakthroughs, the acquisition talks between HDC Hyundai Development Company and Asiana Airline are likely to fall apart, according to reports Thursday. In an email Wednesday, the building company once again told Korea Development Bank, the airline’s creditor, to undertake a fresh round of due diligence for 12 weeks, local reports revealed. KDB and the airline’s owner Kumho Industrial have been adamant against another round of due dil

Hyundai Glovis said Thursday it has partnered with Norwegian-based shipping group Wilh. Wilhelmsen Holding ASA to proactively respond to changes in the future shipping industry. The two firms signed a memorandum of understanding on coping with changes in gas carriers and the shipping environment. The Korean logistics firm said synergy is expected in future shipping businesses, such as entering the gas marine transportation industry and operating hydrogen ships. Under the agreement, the two

Incheon International Airport Corp. is set to post an annual deficit of over 430 billion ($ 363 million) won this year, according to its latest projection Monday. As things stand in August, the airport is on course to be in the red this year, marking the first time in 17 years since 2003. The projection comes following a sharp drop in the number of flights and revenue during the first half of 2020, which saw its previous projected deficit grow over time since the first quarter. “The pro

Hyundai Motor said Monday it will introduce brand song of its new electric vehicle Ioniq with boy band BTS. The brand song “Ioniq: I’m on it” will be distributed on the automaker’s global website at 7 p.m. on Monday. Hyundai Motor and BTS have been working together on various marketing activities for three years since the band was chosen as Palisade’s global PR ambassador in 2018. The automaker said the latest project aims to convey a vision of the infinite po

Hyundai Motor will launch nine new cars in China by the end of next year to seek a turnaround in its sluggish sales in the world’s biggest car market. South Korea’s largest automaker announced Sunday that, starting next month with sport utility vehicle Palisade, it will introduce three sedans, three recreational vehicles and two electric vehicles in the country through 2021 to rebound after sales there plummeted in recent years. The automaker’s three sedans include the new

Aero K CEO Mike Kang confident in targeting niche market with mold-breaking identity

Low-cost carrier Eastar Jet is speeding up a new acquisition deal after talks with Jeju Air were scrapped last month. The airline said Sunday its financial advisers Deloitte Korea, Yulchon and Heungkuk Finance Group would send letters of intent to takeover candidates this week. Three to four large funds and companies are reported to have already expressed their intention to invest. An Eastar Jet official said, “There were some companies that can be known by their names, and some of

Kia Motors launched the face-lifted version of sports sedan Stinger Meister on Thursday, with enhanced performance. Revealing a promotional video featuring actor Go Soo on YouTube and Naver TV, the automaker presented the upgraded model, which was first released in 2017. The new Stinger Meister is offered with two gasoline engines, the new Smartstream 2.5 Turbo and 3.3 Twin-Turbo. It is the first time for Kia to equip the Smartstream G2.5 T-GDI in its vehicle. The Smartstream 2.5 Turbo pr

New Mercedes-Benz Korea CEO Kim Jee-seop says he feels great responsibility

Wholesale, retail and technology startups increase, lodging and restaurants decline