The International Air Transport Association says air travel will take four years for a full recovery as a second wave of pandemic looms large and consumer confidence tumbles, pushing its previous projection back by a year. Short haul travel is expected to recover faster than long haul travel, the association said Tuesday, which means passenger numbers will return to normal levels before air traffic. The prediction comes as global air traffic, measured in revenue passenger kilometers, fell 86.5

Korean Air has been selected as the third-best airline in the world by TripAdvisor’s 2020 Travelers’ Choice Awards. The annual awards, based on reviews and scores collected via the website, also named the airline as one of the best major airlines in Asia alongside Asiana Airlines. The South Korean flag carrier has over 5,200 reviews on the website in 26 languages. One review cited by the online travel company said, “They go over and beyond to ensure you have the best experien

YONGIN, Gyeonggi Province -- “The ultimate sports car, spearheading AMG family. I love to call it our street legal racing machine.” Mark Raine, vice president of product & marketing at Mercedes-Benz Korea, proudly presented a face-lifted model of the AMG GT 2-Door Coupe to press at the AMG Speedway, its racetrack located in Yongin, Gyeonggi Province, on a sunny Friday in July. Five years have passed since Mercedes-Benz Korea introduced the classic AMG GT 2-Door Coupe sports car

Fifty-eight years since they were founded, Hyundai Motor and Kia Motors have sold a total of over 130 million vehicles as of last month, latest data showed last week. The accumulated number of vehicles sold at home and abroad by Hyundai posted 83,120,000, while sales of its affiliate Kia topped 47,210,000. Hyundai was founded in 1967 and released its first ingenious vehicle Pony in 1976. Kia began producing three-wheeled K360 in 1962 in collaboration with Toyo Kogyo, which later changed

The global carmaker Volvo is rejuvenating its brand image in South Korea via successful collaborations with popular dramas and variety shows. In the currently airing tvN drama “It’s Okay to Not Be Okay,” starring Seo Ye-ji and Kim Soo-hyun, Volvo’s premium sports utility vehicle XC90 and S90, a mid-sized luxury sedan, are heavily featured, gliding along the coastal roads of Goseong, Gangwon Province. The Volvo cars have also stood out on other TV programs, with popula

Budget airlines turn to in-country flights to cope with impact of coronavirus

Hyundai Motor confirmed Tuesday it is seeking to acquire General Motors’ production facility in St. Petersburg, Russia. “We are discussing acquisition of the plant with GM,” a Hyundai official said. The South Korean carmaker has sought approval from the antitrust agency in Russia, an essential measure to take over the factory. The agency will decide on granting permission if it does not violate the law. The St. Petersburg plant opened in 2008 with an investment of about $30

Taihan Electric Wire said Monday it has signed a 92.5 billion won ($77.3 million) contract with the UK’s National Grid to supply underground cables and accessories for the London Power Tunnel 2. It is the largest electric grid project to be undertaken by a Korean cable manufacturer in the country, and the company had to fend off stiff competition from other bidders. The bidding process lasted for over a year. “We are excited that we will play a big part in this large-scale, long-te

Market pessimism over HDC Hyundai Development Company’s purchase plan of the country’s second-largest airline grew Monday, with Asiana Airlines stocks plunging. Shares of the airline closed at 3,560 won ($2.98) on Monday, down 2.86 percent from the previous session. However, HDC shares remained almost unchanged and were being traded at 33,100 won. The drop in stock price comes as HDC, which leads a consortium with Mirae Asset Daewoo to take over Asiana, called for another round of

Fiat Chrysler Korea confirmed Monday that President Pablo Rosso has been suspended following allegations of sexual harassment, verbal abuse and assault.  To ensure the integrity of the investigation is upheld, Pablo Rosso has been temporarily suspended from his duties as managing director of FCA Korea, the automaker said. "FCA does not tolerate any form of harassment, abuse or discrimination of our employees or business partners. It is the company’s policy to both immediately

Samsung Heavy Industries said Monday it has become the first shipbuilder to seek approval for its 3D model-based ships from American Bureau of Shipping. ABS sets standards for safety and excellence as one of the world‘s leading ship classification organizations. The South Korean shipbuilder said it began using the design techniques since 2016 but has taken an extra step for approval from ABS. “Shipbuilders must obtain approval from a classification society for the design of ship

South Korea's auto output sank nearly 20 percent to an 11-year low in the first half of the year due to the coronavirus outbreak, industry data showed Monday. Industry leader Hyundai Motor Co. and four other automakers produced 1.63 million vehicles in the January-June period, down 19.8 percent from a year earlier, according to the data from the Korea Automobile Manufacturers Association (KAMA). It was the lowest figure since the 1.53 million units produced in the first half of 2009. The sha

HDC Hyundai Development Co. on Sunday called for an additional round of due diligence on Asiana Airlines as it reaffirmed its interest to close the $2.2 billion deal to take over the country’s second-largest full-service airline. However, this move is casting doubts over the successful closure of the mega-deal to acquire Asiana considering the aggravating financial situation of the airline amid the protracted COVID-19 impact on the aviation industry. The midsized construction unit of H

INJE, Gangwon Province -- There are no remarkable changes to the exterior, but the revamped version of the Renault Samsung Motors flagship midsized sedan SM6 does appear to have been “reborn with a new heart,” as the automaker describes it. Ambitiously presenting the face-lifted model of the SM6 last week, Renault Samsung Motors invited reporters to the Inje Speedium, a 3.91-kilometer circuit in Gangwon Province, on July 16 to test-drive the car on the track and nearby winding roa

High-profile M&A deal falls apart, further dampens mood of aviation industry