Hyundai Motor Co. said Tuesday that it will supply 10 hydrogen buses to South Korea's defense ministry by next year. Under an initial agreement with the ministry, Hyundai Motor also said it will build a hydrogen charging station at a military training facility in the central city of Daejeon. The move comes as South Korea is pushing to use hydrogen as the main source of energy for cars instead of fossil fuel. Carmakers have been racing to go eco-friendly amid tightened regulations on emission

Airlines open more international routes, focused on recovering cargo business

Asiana Airlines held an extraordinary shareholders meeting Monday, and voted to raise capital by increasing shares and issuing convertible bonds. The South Korean flag carrier put to a vote its decision to revise its articles of association, calling for an increase in the total number of issued shares and a higher limit on CBs. The amendment was passed with the approval of all shareholders present. With the shareholders’ approval, Asiana will increase the total number of its shares to 1

Daewoo Shipbuilding & Marine Engineering said Monday it is applying domestically developed technologies at its shipbuilding sites to reduce person-to-person contact amid the coronavirus pandemic. The shipbuilder said it recently completed testing liquefied natural gas carriers by utilizing its own remote maintenance support system called DS4 AR Support. Its pilot tests were successful, which were done with engineers from overseas via an online application.  This system combines au

Struggling Korean automaker to apply for W40tr government subsidy to stay afloat

Kia Motors Corp., South Korea's second-biggest carmaker by sales, halted its two domestic plants Thursday, as two workers at the plants near the capital were confirmed to have contracted the new coronavirus. The suspension came after the two worker at the plants in Gwangmyeong, just southwest of Seoul, tested positive for COVID-19. South Korean health officials tested workers who came into contact with the virus patients. The test results are due as early as Friday morning. Kia Motors and he

Local automakers including Hyundai Motor Group and GM Korea have joined hands with the government for guarantee funds to support auto parts makers hit by the COVID-19 pandemic, officials said Thursday. An agreement to the effect was signed in Seoul by the automakers and the Ministry of Transport, Infrastructure and Energy and the Ministry of SMEs and Startups.  Transport Minister Sung Yoon-mo said that the fund would “work as a liquidity supporting net for midsized companies with l

Korean Air Lines Co., South Korea's largest airline, said Thursday it will extend unpaid leave for its flight attendants in the latest move to cope with a sharp decline in air travel demand amid the spread of the coronavirus. Korean Air said all flight attendants who have worked for the flag carrier for at least two years can take the unpaid leave for a minimum period of six months and up to one year, beginning on July 1. The latest move comes amid no clear sign of business normalization due

South Korea's auto exports more than halved in May from a year earlier due to falling demand in the face of the new coronavirus pandemic that as infected more than 7 million people, data showed Thursday. Local carmakers shipped 95,400 units of cars overseas last month, down 57.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, auto exports also fell 54.1 percent over the period to reach $1.81 billion. In the first

Nissan Korea, which is shutting down its business operations in South Korea from 2021, has sold out the last batch of its cars with discount promotions in a day, market sources said Wednesday. According to industry insiders, Nissan Korea sold its flagship sedan Altima at a 10 million ($8,383) to 13.5 million won cheaper price, while Maxima was priced 14.5 million won lower. They are about 35 percent cheaper than the original prices, which were around 29.1 million won and 45.2 million won, res

BMW Group’s premium compact car brand Mini is hosting the New Mini Countryman’s World Premier event in Yongin, Gyeonggi Province, on June 24, Mini Korea said Wednesday. It is the first time in the Mini’s 60-year history to hold a world premiere in Korea, Mini Korea said.  The company said the Korean market’s geographical and national characteristics suit the Mini brand’s identity.  “BMW Group acknowledges Korea as a market where traditional and m

Renault Samsung Motors’ subcompact QM3 sport utility vehicle is one of the bestselling vehicles in a passenger car lineup that includes the SM3 and SM6 sedans, and the XM3 and QM6 SUVs. With practicality and pricing having driven a boom in the local market for compact SUVs in recent years, the QM3 has benefited. It has enjoyed great popularity in the seven years since its release.  While the model was popular for its dainty design and high fuel efficiency, it underwent significant

Korean Air Lines Co., South Korea's biggest carrier, said Wednesday it has started boarding passengers from back to front to help stem the potential spread of the new coronavirus. On Wednesday, Korean Air began to apply the back-to-front boarding system on all of its domestic and international routes to minimize contact among passengers, the company said in a statement. Airlines usually have priority boarding for first class and business class passengers instead of having passengers in the la

HDC Hyundai Development on Tuesday said it hopes to renegotiate its deal for acquiring South Korean flag carrier Asiana Airlines given the business turmoil caused by the COVID-19 pandemic. The midsized South Korean builder has requested Asiana’s creditors and its largest shareholder Kumho Industrial to modify the conditions of the takeover. The company said it has not received “sufficient and trustworthy data” about Asiana’s financial status or an explanation for the c

Hyundai Motor Co. and its affiliate Kia Motors Corp. said Tuesday their combined electric vehicle sales jumped 58 percent in the January-May period from a year earlier on demand from Europe. Hyundai and Kia sold 40,182 all-electric vehicles in the first five months, up from 25,454 units in the year-ago period, the companies said. Hyundai sells the pure electric Kona subcompact SUV and the Ioniq Electric in global markets, while Kia sells the Niro EV and Soul EV boxcar. "Demand for EVs