Hyundai Motor and Kia Motors, South Korea’s largest automakers, forecast their weakest sales growth in nine years as they run out of capacity to increase output and competition intensifies in major markets.The companies’ combined deliveries will rise 2.5 percent to 8.2 million vehicles in 2015, Chung Mong-koo, chairman of both automakers, said during a New Year address to employees in Seoul on Friday. That would be the slowest growth since 2006. The forecast was in line with the median estimate

South Korean carmakers are pinning high hopes on new models this year to help defend their home turf from increased competition from foreign brands.Despite increased car sales, the nation’s five carmakers ― Hyundai Motor, Kia Motors, Renault Samsung Motors, GM Korea and Ssangyong Motor ― continued to lose market share in 2014. Industry watchers predict that foreign carmakers’ sales will exceed a record 220,000 vehicles in 2015, with their combined market share hitting a new high of 15 percent. 

When Choi Myoung-wha graduated from Korea University in 1988, many of the nation’s biggest companies didn’t hire women in their annual recruitment drives. Armed with a degree in French literature, Choi landed a job at Samsung Group through a special program thanks to her language skills.Today, South Korea’s first female president Park Geun-hye is pushing for more female managers in public service and calling for more measures to help working mothers. Women are hired fresh out of college by South

Audi will spend 24 billion euros ($29 billion) to develop technology and expand production, boosting its five-year investment plan by 2 billion euros as it chases BMW for the top spot in luxury-car sales.About 16.8 billion euros, or 70 percent of the total, is earmarked for new models like the Q1 subcompact sport-utility vehicle, the Ingolstadt, Germany-based unit of Volkswagen AG said Friday in a statement. Audi expects to sell a record of more than 1.7 million autos this year.“We are making la

The Nissan Leaf, the world’s best-selling electric vehicle, made its Korean debut on Tuesday, with the first batch of 15 vehicles delivered to customers living on the southern island of Jejudo. Launched in late 2010, the full-electric five-door hatch has sold more than 147,000 units globally. It churns out up to 80 kilowatts of power (109 horsepower) and a maximum torque of 25.9 kilogram meters.  For its long-awaited Korean debut, the Japanese carmaker chose Jejudo due to the provincial governme

The new Sonata hybrid was a pleasant surprise to drive, defying all the skepticism people might have about domestic hybrid cars. Hyundai Motor’s ambitious new hybrid version of one of the country’s best-selling midsize vehicle was satisfying, with high fuel economy ― its combined gas mileage stood at 17.7 kilometers per liter for the 17-inch wheels ― power and driving comfort.The test drive was held on Dec. 23 on the roads between Mayfield Hotel in Gimpo, Gyeonggi Province, and Incheon Hyatt hot

JEJUDO ISLAND ― The Warren Buffett-backed Chinese electric carmaker BYD will showcase its e6 car in Korea during the International Electric Vehicle Expo in March on Jejudo Island, expo officials said Friday. “BYD executives visited the island recently and they were greatly impressed by the abundant infrastructure here,” said Park Jae-chan, director general of the event. But no immediate plans for Korean sales are known, he added.Founded by billionaire chairman Wang Chuanfu as a battery and hands

Hyundai Motor Group is expected to raise its global sales target to 8.4 million vehicles in 2015 worldwide despite worries about a weaker Japanese yen and slowing sales in emerging markets.According to company officials on Thursday, chairman Chung Mong-koo will announce the new sales target on Jan. 2 during a speech at the group’s New Year ceremony in Seoul.“Our sales and marketing divisions have already started drawing up next year’s plans under the increased sales goal,” said a company officia

Ssangyong TivoliSsansgyong Motor’s long-awaited U.S. entry seems to be gaining fresh momentum as the Korean carmaker recently filed trademark requests for its two car names with the U.S. patent agency. According to the U.S. Patent and Trademark Office on Tuesday, Ssangyong registered two words “Tivoli” and “Luvent” for trademark registration in June. The purpose of the registration was listed as vehicle use.Tivoli is the name of the carmaker’s new compact crossover that will make its Seoul debut