Hyundai Mobis, an auto parts unit of Hyundai Motor, has expanded archery classes held as part of its corporate social responsibility initiatives to students in China, the company said Thursday.The CSR program was launched there with the aim of enhancing the company’s brand image in the region. A former head coach of the South Korean national archery team, Yang Chang-hoon (third row, first right), and archers of Hyundai Mobis’ archery team pose for a photo during a corporate social responsibility

BMW Korea, the local unit of the Germany luxury carmaker, has been slapped with the highest-ever fine for a single automaker here of a total 60.8 billion won ($54.5 million) for sloppy certification documents of 28 models and selling 11 models made with unapproved auto parts, the government said Thursday. According to the Ministry of Environment, BMW submitted underrated emissions results for 81,483 units across 28 models -- 10 diesel-powered and 18 fuel-powered models. The latest finding concer

Hyundai Motor Group, the nation’s largest carmaker, invited more than 300 foreign students from 90 countries for trips to its manufacturing plants and design studio.As part of an annual event titled “2017 Global Friendship Tour,” students enrolled at seven Korean colleges toured Hyundai Motor’s Asan plant, Kia Motors’ Hwaseong plant and Hyundai Steel’s plant in Dangjin, South Chungcheong Province. They also visited Hyundai Motor Studio in Goyang, Gyeonggi Province, a venue set up to promote the

The local units of Mercedes-Benz, BMW and Porsche have been fined a combined 70.3 billion won ($63.1 million) for falsifying reports on the emissions levels of their vehicles sold here, the environment ministry said Thursday.The three foreign automakers were found to have forged documents regarding tests on the exhaust control of emissions and submitted them to the government for sales approval between 2010 and 2015, according to the Ministry of Environment. (Yonhap)BMW will face a penalty of so

With bilateral tension showing signs of easing between Seoul and Beijing, Kia Motors, a sister company to Hyundai Motor, has released an upgraded Forte subcompact in China, the company said Wednesday.A trilateral venture among Kia, Yueda and Dongfen has unveiled the New Forte at a Hyundai Motor Group R&D center in Yentai, China, on Tuesday with local dealers and officials attending. The 1.6-liter subcompact sedan is equipped with a six-speed automatic or manual transmission as well as a voice-re

General Motors Co. is considering launching the Equinox compact sport utility vehicle in South Korea to prop up its lackluster sales, GM Korea said Wednesday.The South Korean unit of the Detroit-based carmaker, has road tested the Equinox crossover here since September to adjust the model for local environmental regulations and other requirements, the company said. "We are giving serious consideration to the launch of the Equinox in Korea. But the timetable for the launch is not decided yet," a

South Korea will open a test bed road for self-driving cars to allow companies and researchers to check their cars in a real road environment, the transport ministry said Monday.  The 320,000 square meter facility, called "K-City," has been under construction in Hwaseong, Gyeonggi Province with some 11 billion won ($9.77 million) being injected into the project, with the aim of fully opening it for traffic in late 2018.  The groundbreaking ceremony for "K-City" takes place in Hwaseong, southwest

The head of General Motors Co.'s South Korean operations will meet employees and dealerships this month in an effort to seek their support to cope with declining sales and rumors that the carmaker may withdraw from the country, the company said Monday. GM Korea President and Chief Executive Kaher Kazem plans to hold talks with executives and employees later this month to explain the carmaker's status and seek support to revive sales and ride out the decadelong exit rumors, a spokesman said. Kaze

Hyundai Motor has established a startup incubator in Israel to expand cooperation with budding enterprises in the Middle East nation that has shown strength in technology development in future mobility in recent years. The plan also includes “massive investment” in Israeli startups to be delivered in various formats, including making direct investments and seeking partnerships with venture capital firms, the carmaker said Thursday. The size of investment was not disclosed. Chi Young-cho, vice pr

Hahn & Company, a local private equity investment firm, was selected as the preferred bidder for the offline division of SK Encar, a major secondhand car seller, sources said Wednesday.Hahn & Company is known to have proposed purchasing it for around 200 billion won ($179 million), according to the sources.SK Holdings has reportedly decided to sell the offline division as it was designated in 2013 as a business suitable for small and medium-sized companies. SK Encar has 26 regional trading offic

Hyundai Motor Vice Chairman Chung Eui-sun looks at an art installment displayed at Hyundai Motor Studio in Beijing, Wednesday. (Hyundai Motor)After suffering major losses from a Seoul-Beijing diplomatic spat, Hyundai Motor Group Vice Chairman Chung Eui-sun while visiting Beijing said he expects improved ties between the two countries would bring a positive impact to the carmaker’s operation there, officials said Wednesday.“I expect to see a positive impact (from the improved ties). Taking this o

Kia Motors Corp. said Wednesday its vehicle sales fell 10.4 percent in October from a year earlier on fewer working days and weak demand in China. The country's second-largest carmaker by sales sold 231,275 vehicles in October, down from 258,176 units a year earlier. The decline was driven by the extended Chuseok holiday that fell during the first week of last month and declining sales in China, the company said in a statement. Domestic sales fell 2.4 percent on-year to 37,521 units in October f

Town Life, a utility vehicle business unit owned by the Lamborghini family, introduced its new electric motorcycle model Iso Moto Ferruccio Lamborghini in Korea on Tuesday.Town Life and its co-developer Green Power Circuit Corporation Korea will begin commercial sales of the electric motorcycle in Korea within this year, Town Life Chairman Ferruccio Lamborghini said during the press conference.  Town Life Chairman Ferruccio Lamborghini (right) introduces Town Life's new electric motorcycle Tuesd

An improvement in Seoul-Beijing relations, which have recently been strained by the deployment of a US missile defense system, could help revive demand for South Korean made automobiles in the world's No. 1 car market, industry sources said Tuesday.South Korea and China agreed earlier in the day to put back on track ties that have been soured for the past several months, as China has put in place economic retaliation against South Korea over the deployment of the Terminal High Altitude Area Defe

Hyundai Mobis Co., South Korea's largest auto parts maker by sales, said Monday its third-quarter net profit plunged 32 percent on lower demand from China. For the three months that ended on Sept. 30, net profit declined to 482.2 billion won ($429 million) from 705.8 billion won a year earlier, the company said in a statement. "The vehicle module and core component business from which the company earns about 80 percent of its overall sales was hit hard by declining demand from the neighboring co