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

Jeju Air Co., South Korea's leading low-cost carrier, has been at odds with Eastar Jet Co. over Eastar's demand for the shouldering of some of its overdue wage payments, industry officials said Monday, a move that could act as a possible deal breaker. The dispute comes seven days before the two sides are scheduled to close their deal. In March, Jeju Air signed a deal to acquire a controlling 51.17 percent stake in Eastar Jet from its parent Eastar Holdings Inc. for 54.5 billion won ($45 milli

GM Technical Center of Korea to play important role in GM’s EV technology

Indian carmaker Mahindra & Mahindra Ltd. is in the process of selling its South Korean unit SsangYong Motor Co. by picking a lead manager for a potential exit from the loss-making affiliate, industry sources said Friday. In 2011, Mahindra acquired a 70 percent stake in SsangYong Motor for 523 billion won ($438 million). Mahindra currently owns a 74.65 percent stake in the SUV-focused carmaker.  Mahindra and SsangYong didn't confirm whether they have named an unidentified adviser for

BMW Korea said Friday it will introduce an electronic contract system, called the Digital Sales Platform, becoming the first foreign carmaker to do so here. According to the BMW Korea, the new system, which would entirely replace the traditional face-to-face contract services, will be implemented in all of its seven dealerships and 52 showrooms across the country, starting July 1. The Digital Sales Platform will replace all paperwork necessary in purchasing a car, including registering for a

SsangYong Motor Co. said Friday it has signed an initial agreement with Chinese carmaker Songuo Motors Co. to export its Tivoli sport utility vehicle. Under the basic agreement, SsangYong Motor will deliver the Tivoli SUV in the form of knockdown units to Songuo Motors' plants in China to be assembled into complete vehicles for exports to the Middle East and Africa from late this year, the company said in a statement. Songuo Motors plans to develop its own vehicle based on the Tivoli platfo

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

South Korea’s full service airlines have decided to extend the validity of their mileage points by one year as customers are finding it difficult to use them amid the virus pandemic, officials said Thursday. Korean Air and Asiana Airlines decided to extend the validity period that expires on January 1, 2022, after consultation with the Fair Trade Commission and the Ministry of Land, Infrastructure and Transport. The move comes after persistent criticism that the expiration is unfair as

Volvo Car Korea said Tursday it will invest 150 billion won ($124 million) over the next three years to expand its after-sales service centers to better serve customers. Volvo Car Korea plans to nearly double the number of service centers to 52 and that of repair centers to 312, by 2023, the company said in a statement.    Volvo has reported robust sales in Korea so far this year, helped by new models, such as the new S60 sedan. Its sales in the January-April period jumped

Kia Motors Corp., South Korea's second-biggest carmaker, unveiled renderings of its all-new Carnival minivan on Thursday ahead of its domestic launch in the third quarter. The fourth-generation Carnival comes with a dynamic radiator grille and a bold side character line that runs the length of the car, the company said in a statement. At the rear, the side character line trails into the back and merges with the rear lamp graphics. The roof has a bit of a fastback look, ending at the trunk li

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

Non-US firms close gap with Silicon Valley while rivals sit idle due to pandemic