Tension is escalating over the South Korean government’s inspection into GM Korea, following the automaker’s decision to shut down a factory here last week. State-run Korea Development Bank, the second-biggest stockholder of the local unit with 17.02 percent shares, is currently looking into GM Korea’s management, including high-interest loans levied by the US headquarters. The country‘s financial watchdog Financial Supervisory Service is examining GM Korea’s research and development expenses, w

Kia Motors, the sister company of Hyundai Motor, released its fully changed sedan K3 on Tuesday, highlighting its increased fuel efficiency.The first fully change model in six years has a 1.6-liter gasoline engine and a fuel economy of 15.2 kilometers per liter, a 10 percent increase from its previous model. Kia Motors’ Pierre Leclercq, head of Styling, gives a presentation on the All New K3 at Walkerhill Hotel in Gwangjin-gu, Seoul, Tuesday. The K3, the first full-change model in six years, com

South Korea’s tire-maker Kumho Tire has won in the “concept” category of Germany’s iF Design Award 2018, the company said Tuesday. iF Design Award that boasts 65 years of history is organized by Germany’s International Forum Design, and is often dubbed as the Oscar of the design industry, along with Red Dot Design Award and IDEA Design Award.Some 6,400 pieces were submitted from 54 countries to be reviewed by 63 judges selected from different parts of the world to evaluate the design’s appeal in

Amid intense competition in Korea’s auto market, Renault Samsung Motors, the South Korean unit of French carmaker Renault S.A., set a modest goal for this year to sell 270,000 units.Its goal to sell 100,000 units here and ship 170,000 units remains unchanged from last year’s sales of 276,808 units. Carmakers, however, usually pitch an annual sales target that is about 10 percent higher than expected performance.“Customers are at the core of Renault Samsung Motors’ business goal for this year and

Posco, South Korea’s top steelmaker by sales, inked a memorandum of understanding with US-based conglomerate GE to develop a hybrid smart factory platform aimed at heightening efficiency of steel mills, the company said Tuesday.The hybrid smart factory platform PosFrame+ is to be a combination of steelmaker’s PosFrame smart factory platform alongside GE’s representative smart factory solution Asset Performance Management.“Developing smart technology for facilities will serve as a momentum-trigge

US carmaker to make another 'important decision' by Feb., government expresses 'deep regret'

SsangYong Motor has signed a product license deal with parent company Mahindra and Mahindra to start production of the G4 Rexton, a large premium sport utility vehicle, in India, the company said Monday.The assembly of the South Korean carmaker’s latest SUV will start within the second half of the year at Mahindra and Mahindra’s Chakan plant in Maharashtra, western India. Under the deal that expires on Dec. 31, 2023, SsangYong Motor will exports parts for the G4 Rexton in kits for them to be ass

Old rumors of GM Korea’s potential pullout from South Korea recently resurfaced, following moves and comments made by the automaker’s global management.Last week, General Motors International President Barry Engle visited Korea, following a trip last month, although the details of his meetings here were not disclosed. GM CEO Mary Barra, meanwhile, also called Korea a challenge last week during a public conference call with industry analysts, eluding to potential changes and restructuring. All th

Automation, long-distance driving boast Hyundai‘s latest technology, but use of hydrogen still unfamiliar

S. Korean carmaker expects turnaround with intense R&D after a stormy year of THAAD, labor protests and sluggish global sales

Hyundai and Kia Motors are supporting the 2018 PyeongChang Olympics by providing some 4,100 units of vehicles and donations worth over 50 billion won ($46.95 million) as an official tier-one sponsor.On a promotional level, Hyundai Motor is presenting its ambitious hydrogen fuel cell Nexo sport utility vehicle and hydroelectric buses for test drives and transportation throughout the Olympic period. Three units of Hyundai Motor’s hydroelectric bus with a driving distance of some 530 kilometers per

Renault Samsung Motors, the South Korean unit of French carmaker Renault S.A, continues to see successful sales in Europe’s compact sport utility vehicle segment, with its QM3 ranking the No. 1 best-seller last year, the company said Thursday.Known as “Captur” in Europe, the company sold 212,681 units of the vehicle there in 2017, retaining its best-seller status for four years in a row.“We believe Captur is favored in Europe because it is immensely practical and has a European-style sensuous de

Hyundai Motor, the world’s fifth largest carmaker, is heading full-force into new areas of the auto industry with converged technologies and environment-friendly features.Spearheading Hyundai’s drive is its Nexo, a next-generation fuel-cell hydrogen SUV certified to drive more than 600 kilometers per charge, the longest on record for hydrogen-powered cars.Nexo, which is to be released next month with the aim of selling 10,000 hydroelectric vehicles by 2022, is armed with a slew of heightened saf

Akwasi Frimpong, a Dutch-Ghanaian skeleton slider, will be one of the 11 athletes representing African nations, and the only one competing for Ghana, at the 2018 PyeongChang Winter Games.Before he was confirmed to be competing at the Olympics last month, Frimpong, 31, was able to commute to training sessions and competitions in North America, carrying his sled and other pieces of equipment, with the help of a local dealer of Korean automaker Hyundai Motor throughout the 2017-18 season. Akwasi Fr

Kia Motors, South Korea's second-largest automaker by sales, rolled out a new compact SUV concept in India on Wednesday, heralding its full-fledged foray into the local market.The compact SP SUV concept was showcased at the 14th Auto Expo 2018, India's largest motor show that kicked off near New Delhi for a weeklong run.Kia said the spacious compact SUV with a sleek design is the company's strategic model specifically designed to target motorists in India where small crossovers are very popular.