High-end auto brand Genesis unveiled a teaser image of its flagship sedan G90, boasting a new look, with plans to begin sales here later this month and overseas next year, the company said Wednesday.Through the face-lifted G90, Genesis is hoping to accentuate the brand’s luxury identity and step up global sales, for which it will launch the sedan in North America next year followed by other regions.The G90, first released in 2015, completes the Genesis sedan lineup consisting of the G70 and G80,

Hyundai Motor, South Korea’s No. 1 automotive firm by sales, kicked off a media art project prepared simultaneously in Seoul, China and Russia dubbed “Future Humanity -- Our Shared Planet,” which aims to contemplate the future of humanity and mobility, the company said Thursday.The exhibition, which was made jointly with media art group Ars Electronica, began in Beijing and will open in Seoul later this week followed by Moscow later this month.Hyundai Motor Chief Vice Chairman Chung Eui-sun (fir

Hyundai, Kia’s $250m investment in Grab signals market expansion to SE Asia

As growing numbers of drivers choose foreign cars over local brands, more foreign car brands are expected to sell over 10,000 units here this year, industry data showed Tuesday.The 10,000-unit mark is a standard that measures whether foreign carmakers have made a safe landing here.According to the Korea Automobile Importers and Distributors Association, six foreign carmakers -- Mercedes-Benz, BMW, Toyota, Volkswagen, Land Rover and Audi -- have each sold more than 10,000 units so far this year.

Firm vows to reach W100tr in revenue by 2030

The Mercedes-Benz CSR committee set a record over the weekend, with 3,452 people gathering to make kimchi as part of its Mercedes-Benz Promise KimJang Project, the company said Monday. The event gained the Guinness World Records title for the most people making kimchi simultaneously.　Participants, who included employees of Mercedes-Benz Korea, dealers and affiliated companies, made 90 tons of kimchi and put it in 9,000 boxes, which were delivered to 25 food banks and 13 social welfare organizati

South Korean auto parts supplier Hyundai Mobis is striving to gain an upper hand in driverless technology, for which it will increase the ratio of investment in research and development to 10 percent of its auto parts revenue by 2021 from the current 7 percent, the company said Monday.It will also roughly double the number of professionals in autonomous driving from 600 people to over 1,000 in the cited period.“Among the technology Mobis is working on, we are particularly focusing our attention

Sales of Hyundai Motor Co.'s premium Genesis marque have surpassed a cumulative 200,000 units three years after its official launch, industry data showed Sunday.According to the data, the total sales of Genesis vehicles reached 206,882 as of the end of October, touching the 200,000 mark for the first time since November 2015, when Hyundai Motor launched the sub-luxury brand. (Yonhap)With global sales of 555 units of Genesis cars in the first year, 58,916 units were sold in the following year and

Mobileye APAC & Africa director expresses interest in Kakao Mobility, SoCar

HWASEONG, Gyeonggi Province -- Amid fears that the nation’s largest carmaker might be losing momentum, engineers at Hyundai Motor’s research and development center flaunted their creative and innovative ideas for cars of the future in front of executives seeking breakthroughs.Pitching products that ranged from stair-climbing personal mobility devices to air pumps to clear water away from side mirrors, 12 teams of young engineers competed in the annual R&D idea festival, suggesting new possibilit

Hankook Tire Co., the world's seventh-largest tiremaker by sales, said Monday that its third quarter net profit fell 30.9 percent from a year earlier on increased costs and weak sales.For the three months ending Sept. 30, net profit reached 118.9 billion won ($104.1 million), down from 171.9 billion won a year earlier, the company said in a statement.  (Herald DB)The tiremaker said the decline in net profit could be blamed on weak sales in global markets and an increase in operating costs at the

Lackluster sales at South Korean carmakers is taking a toll on local parts suppliers, with a growing number of them recording operating losses and seeking debt workout programs.Amid concerns that struggles at local carmakers would have a profound impact on local small and midsize parts suppliers, the government has stepped in to provide special credit guarantees worth 1 trillion won. (Herald DB)According to data from the Korea Auto Industries Cooperative Association, out of 89 listed first-tier

Apparently seeking a change after the earnings shock last week, Hyundai Motor carried out a major reshuffle of its executives on Monday.The South Korean carmaker promoted Thomas Schemera, executive vice president of its high-performance vehicle division, to head its product planning and strategy division. The former BMW M executive is now in charge of setting the direction for technology development and product planning in light of the fast-changing market and innovations in technology, the comp

Upon stepping into American classic sports utility vehicle brand Jeep, one cannot help but feel the urge to become a little bit more adventurous. The brand that symbolizes such boldness, however, gets a softer tone with the Jeep Compass, a midsized model in its SUV lineup, especially in its latest version. The All New Jeep Compass that reached the local market in July has gotten an urban touch with modern, young design elements. But it has kept its daredevil spirit inside. The Tighershark MultiA

Hyundai Motor is joining forces with a Chinese engineering institute to raise around $100 million for an investment fund for startups with innovative ideas on hydrogen technology and infrastructure building, the company said Monday.The South Korean carmaker and the Beijing-Tsinghua Industrial R&D Institute signed a memorandum of understanding Friday, agreeing to establish a “Hydrogen Energy Fund.” The fund will be managed by Hyundai Motor and Yield Capital, an investment unit under the Chinese e