Mergers and acquisitions are approached carefully and reviewed in depth. While they can help make the company an industry leader, they can also destroy in the company by overloading it in debt.Volvo Construction Equipment Korea, which was created when the Swedish company purchased the construction equipment business from Samsung Heavy Industries in 1998, celebrated its 20th anniversary last week in a festive mood, looking back on the growth achieved.Volvo CE President Melker Jernberg who visited

The South Korean city of Incheon said Sunday it will consider retrieving land that it offered to General Motors Co.‘s local unit for use as a test track as the company pushes ahead with a plan to spin off its research division. GM Korea’s shareholders approved the split plan Friday, sparking concerns that the US carmaker may keep only its research facility in South Korea and eventually shut down its manufacturing facilities here. Incheon provided the 410,000-square-meter land to GM with a 30-yea

KDB to take legal action, union to stage strike

Kia refutes claim of manufacturing defects in a 2014 Kia Soul that it's connected with drug abuse

Hyundai Motor Co. and Kia Motors Corp., South Korea's two biggest carmakers by sales, said Thursday they are reviewing a US request to testify in regards to engine fires in their cars next month.Hyundai and Kia's US operations received the request from the Senate Commerce Committee to appear at a hearing on Nov. 14 on reports of engine fires in their vehicles. Management is "currently reviewing" the request, a Hyundai spokesman said over the phone.   Global headquarters of Hyundai Motor Co. and

Hyundai Motor has signed a memorandum with French energy firms to expand the sale of hydrogen fuel cell vehicles, the company said Wednesday.Under the agreement, the South Korean carmaker will partner with Air Liquide SA and Engie to promote the use of FCEVs and hydrogen refilling stations across France.The agreement came after Hyundai announced a plan to export 5,000 FCEVs to France by 2025.Hyundai Motor President Chung Jin-haeng (left), Engie President for hydrogen business Michele Azalbert (c

In a market segment dominated by domestic brand Hyundai and German luxury cars, Volkswagen is seeking a greater presence in the highly competitive sector by introducing its flagship model Arteon, the company’s Seoul branch said Wednesday. Volkswagen’s premium sedan Arteon (Volkswagen Korea)Arteon is a four-door coupe that combines design elements of classic sports car and fastback models. The premium model opens a new chapter in Volkswagen’s design history and is expected to be an exclusive prod

Renault Samsung Motors Corp., the South Korean unit of Renault SA, on Monday launched the Master van in Korea as part of its effort to diversify its lineup. The Renault Master comes with a three-year power train and auto components' warranty for 100,000 kilometers, the company said in a statement.   (Renault Samsung Motors Corp. - Yonhap)The Master S version is priced at 29 million won ($26,000) and the Master L version carries a price tag of 31 million won, the statement said.The van is equippe

South Korean President Moon Jae-in test rode the Hyundai Motor Nexo fuel cell electric vehicle during his state visit to France on Sunday afternoon and observed the charging process of a Tucson FCEV taxi.This marked Moon’s second test ride on the Nexo SUV, following his firsthand experience of the SUV’s driverless technology in Seoul this February.South Korea’s No.1 carmaker Hyundai Motor is slated to sign a memorandum of understanding on Tuesday with French industrial gas supplier Air Liquide a

Mini car sales in South Korea fell to a 10-year low last month due to lower demand and reduced tax benefits, local carmakers' sales data showed Sunday. In September, sales of mini cars plunged to 8,627 units, the lowest figure since the 8,172 units in January 2009, according to sales data offered by the country's three carmakers.  (Yonhap)Mini car models, mostly with a 1.0-liter gasoline engine, sold in Korea include Kia Motors Corp.'s Morning and Ray, GM Korea Co.'s Chevrolet Spark and Renault

Getting a glimpse of the real world and experience in their field of interest is important for all students, especially for young artists who aspire to portray different aspects of life through their work.Han Sung Motor, the largest official dealer of Mercedes-Benz here, which initiated the CSR art project Dream Gream in 2012, participated in the 17th Korea International Art Fair earlier this month to broaden the horizons of young artists by enabling them to take part in one of Asia’s biggest ar

South Korean auto parts maker Hyundai Mobis is seeking collaboration with two local startups selected through its M.Start contest in an effort to gain the upper hand in in-demand mobility technologies, the company said Thursday.Genesis Lab and Linkflow were chosen among 155 candidates for their artificial intelligence-based image and voice recognition technologies.“The latest cooperation is aimed at advanced acquisition of innovative technology. Mobis will lead the market by boosting cooperation

Amid mounting tensions surrounding US automaker General Motors’ move to separate GM Korea’s research and development center as an independent body, conflict at the local unit is expected to deepen with the union, which is slated to hold a vote on staging a strike over the move.The issue also took center stage at Wednesday’s parliamentary inspection where politicians grilled related government officials and the carmaker.As GM Korea pushes forward its R&D center separation plan that has been in th

GONGJU, South Chungcheong Province -- Riding the wave of green cars, Kia Motors recently released its first fully electric vehicle, the Niro, highlighting its driving distance of 385 kilometers per charge -- enough to drive from Seoul to the southern port city Busan. South Korea’s roads, which until now have been packed with gasoline-powered sedans, mostly black or white in color, are going through a transition with the influx of eco-friendly cars such as electric vehicles, plug-in hybrid electr

Carmaker’s Czech plant considers manufacturing green cars in line with growing market demand