[THE INVESTOR] City cars, such as the Chevrolet Spark and Kia Morning, are enjoying popularity among Korean drivers as carmakers are offering aggressive promotions to new buyers, industry data showed on June 20. According to the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the same period. The best-selling city car Chevrolet Spark.There are three such car models -- the

The sales of city cars in South Korea, such as the Spark and the Morning, have remained firm this year on the back of aggressive promotions by automakers, with their combined sales exceeding those of compact sedans, industry data showed Monday.According to the data compiled by the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the cited period.Currently, there are three

Hyundai Motor shows a lukewarm stance in car-sharing, ride-hailing business.

[THE INVESTOR] South Korean prosecutors will be wrapping up the five-month investigation into toxic humidifier disinfectants that left at least 140 dead and hundreds more affected since 2011, according to officials on Sunday.The special probe team of Seoul Central District Prosecutors Office is expected to press charges against some 20 people related to the incident, including 12 already arrested on charges varying from professional negligence to false advertising that products were safe. The su

[THE INVESTOR] Amid the widening investigation into Lotte Group, a fresh round of fraternal conflict between Lotte chairman Shin Dong-bin and his brother Shin Dong-joo is expected to take place on June 25 at a shareholders’ meeting of the Tokyo-based Lotte Holdings that controls Hotel Lotte, the de facto holding company of its Korea operations. Shin Dong-joo is expected to propose a motion to oust his brother and incumbent chairman Dong-bin who controls Lotte’s Korea and Japan operations. Shin D

[THE INVESTOR] Wine has found a new place in the lifestyles of Korean consumers who increasingly see it as a casual drink for everyday enjoyment due to falling prices and growing accessibility.According to the Korea International Trade Association, wine imports last year reached $189.8 million, surpassing the value of imported whisky for the first time. New trends indicate that much of the growth was fueled by Korean consumers’ increasing preference for affordable wines to enjoy at home. The vol

South Korea's top automotive group Hyundai Motor Group is beginning to offer Apple's CarPlay system in its vehicles sold here, market observers said Sunday.Hyundai Motor Co., the bigger of the two automakers that make up the world's fifth-largest automotive group, began incorporating CarPlay into the infotainment system of the Hyundai Sonata this month, making it the first vehicle model produced and sold here that is CarPlay-compatible, according to the market observers.Apple CarPlay is a system

[THE INVESTOR] Prosecutors are focusing on five main allegations against Lotte Group in their probe on the nation’s fifth largest conglomerate. 1. Shin Kyuk-ho and Shin Dong-bin’s 30 billion won (US$25.6 million)Prosecutors on June 16 secured testimony that Lotte group founder Shin Kyuk-ho and his son -- current group chairman Shin Dong-bin -- had collected 10 billion won and 20 billion won, respectively, from the affiliates under the conglomerate. The two Shins asserted that the amount was for

[THE INVESTOR] Lotte Group founder Shin Kyuk-ho was transferred to another hospitals on June 18 amid prosecutors’ escalating probe into the retail and food giant. According to news reports, the 93-year-old was admitted to Asan Medical Center earlier in the day from Seoul National University Hospital where he had been hospitalized since Jun 9 due to high fever. Lotte Group founder Shin Kyuk-hoAn official close to his eldest son Shin Dong-joo was quoted as saying that there was medical opinion tha

[THE INVESTOR] German carmaker Volkswagen’s headquarters ordered the manipulation of emissions tests for vehicles imported into Korea, Seoul prosecutors said on June 17. The investigators have secured evidence that German officials ordered the manipulation of software in the seventh generation Volkswagen Golf to secure approval from Korea’s National Institute of Environmental Research. Under local laws, all imported cars have to receive approval from the state-run agency of their emission result

[THE INVESTOR] Hyundai Motor Group -- comprising Hyundai Motor and Kia Motors -- saw significant sales rise in Europe in May, a research report showed on June 17. The report by Hana Financial Investment showed that Hyundai Motor’s sales rose 18 percent from the same month last year, while Kia’s figures increased 16 percent. The combined sales of both carmakers rose 17 percent. Tucson.For Hyundai Motor, the compact sport utility vehicle Tucson led the rise with sales jumping 46 percent from a yea

[THE INVESTOR] Lotte Group is suspected of giving business favors to a company controlled by its founder’s third wife Seo Mi-kyung, industry watchers said on June 17.Seo is among those being investigated for their involvement in the retail giant’s slush fund allegations. The 57-year-old Seo is the 1977 winner of the group’s Miss Lotte beauty pageant and has a 33-year-old daughter with Lotte founder Shin Kyuk-ho, now 93. Seo came into the limelight recently as prosecutors have widened their probe

[THE INVESTOR] Cuckoo Electronics on June 16 said the filters of its purifiers were safe to use after reports showed them using a toxic substance called octylisothiazolinone.Cuckoo said it used one-tenth of government permitted levels to strengthen the filters against viruses and bacteria.However, Cuckoo said it would replace the filters with those that did not use the substance, free of charge, to those who would like a replacement. Cuckoo‘s comments come amid a nationwide uproar over toxic hum

[THE INVESTOR] Prosecutors suspect Lotte Group’s affiliate Lotte Chemical is behind stashing multibillion won slush funds abroad amid a widening probe into Korea’s fifth largest conglomerates over embezzlement. According to local reports on June 16, Lotte Chemical has reportedly amassed funds by overstating the import price of raw materials and later siphoned off to the group’s executives. Lotte Department Store in central Seoul. The InvestorIn this process, Lotte Chemical stuck a deal with Lott

[THE INVESTOR] South Korean prosecutors may seek a joint probe with investigators in Japan to expand its investigation into Lotte’s alleged creation of slush funds and embezzlement, according to reports Thursday quoting officials with the prosecution.Lotte’s subsidiaries in Japan are running relatively smaller businesses than the group’s operations in Korea. But when looking at its corporate governance structure, most of Lotte’s affiliates in Korea are being controlled by Tokyo-based Lotte Holdi