The Korea Herald

Hyundai chief stresses creativity

Mar 7, 2012

Chairman Chung wins award for ‘2011 Top Manager in the World’Hyundai Motor chairman Chung Mong-koo reiterated that the company should make a breakthrough in Europe with unique strategies.Chung, who is visiting the 82nd Geneva International Motor Show in Switzerland, called for Hyundai’s European corporations to cope with the European crisis with a creative mindset.Chung was quoted by Hyundai executives as saying, “Though the European market is the origin of the global economic slowdown, Hyundai
Mitsubishi, Citroen, Fiat to reenter Korea

Mar 6, 2012

Three foreign automakers will soon make inroads into Korea as the nation’s import car market continues to expand.Mitsubishi Motors and Citroen have decided to reenter Korea in March and April, respectively. Fiat is fine-tuning the timing of its advancement.Mitsubishi Motors will resume sales in the local market in mid-March after a year-long hiatus.Its official importer and distributor has been changed to CXC Motors from the former MMSK.CXC Motors is poised to open large showrooms for the Japane
Hyundai, Kia, BMW to provide vehicles for nuclear summit

Mar 5, 2012

Hyundai Motor and its affiliate Kia Motors will help support the 2012 Nuclear Security Summit in Seoul, slated for March 26-27.The two companies delivered 262 vehicles, produced for protocol and guard of the global leaders, to the preparation committee for the summit on Monday.The vehicles included the Equus limousine by Hyundai Motor and the Starex van from Kia Motors, which will be used for the figures from more than 50 countries.The automakers will also run a maintenance team of 70 experts fo
GM to compensate apartheid victims in South Africa

Mar 4, 2012

For victims of South Africa’s defunct apartheid regime, it is a financially small, but symbolically important victory over a U.S. corporate icon.This week, car giant General Motors agreed to pay up to 1.5 million dollars to a group of more than 20 South Africans who suffered torture, arrest and other forms of harassment at the hands of the regime.The claimants are suing the car company and four other global firms for their allegedly crucial role in supporting white-minority rule ― which ended in
Finesse on four wheels

Mar 4, 2012

Aesthetics are always subjective. How would you choose the supercar of your dreams among Lamborghini, Ferrari, Maserati or Bentley?Gone are the days when the wealthy would ogle a Mercedes Benz or BMW above all else. High-end customers are increasingly eyeing built-to-order, traffic-stopping beauty rarely seen in most neighborhoods.“I have compared Lamborghini Aventador, Maserati Quattroporte and Porsche 911 and decided to settle on the 911. I can get technical about the decision process, it is c
Hyundai, Kia cars post record sales in U.S.

Mar 2, 2012

Hyundai Motor and Kia Motors saw their February sales in the U.S. market reach an all-time high.Hyundai Motor sold 51,151 units last month in the U.S., up 18 percent from 43,533 units a year earlier. It is a record-high performance for the carmaker’s February sales.Sales of the Sonata and Avante, called the Elantra in the U.S., came to 17,425 and 13,820 units, respectively.Kia Motors, an affiliate of Hyundai Motor, reported 37.3 percent growth with sales of 45,038 units in the world’s biggest au
Hyundai Motor family firms up grip on group

Feb 29, 2012

Hyundai Motor Group chairman Chung Mong-koo and his son Eui-sun have been expanding their presence in the group’s subsidiaries.Chairman Chung is to take on the role of a standing director in Hyundai Engineering & Construction, which was acquired by the automotive group in March 2011, Hyundai Motor said Wednesday.Last Friday, Chung Eui-sun, Hyundai Motor vice chairman and Kia Motors president, was named a standing director of Hyundai-Steel.According to Hyundai spokespeople, their direct involveme
Kia reveals K9 design

Feb 28, 2012

Kia Motors unveiled the exterior design of the K9, a luxury premium sedan, on Tuesday.“Its design features futuristic and high-end technology,” the company said in a statement. The car will officially be launched sometime before July.The sedan, which is expected to compete with Hyundai Motor’s Equus and Genesis sedans in sales, is an upper series of Kia Motors’ K7 and K5 sedans. K9 is the latest product of Kia’s evolving design approach, carrying its signature radiator grille, bold “high-tech lu
U.S. court tentatively denies Toyota arbitration for acceleration cases

Feb 26, 2012

A judge ruled tentatively that Toyota Motor Corp. can’t force named plaintiffs in a purported class-action lawsuit over alleged losses from unintended sudden acceleration to arbitrate their claims rather than proceed to trial. U.S. District Judge James Selna in Santa Ana, California, said in a tentative ruling on Friday that Toyota waived its right to compel arbitration for 15 of the 20 plaintiffs and that, for the remaining five, the carmaker wasn’t a party to the arbitration agreements between
Porsche recalls 100,000 cars worldwide to fix headlights

Feb 26, 2012

Porsche was recalling 100,000 of its Cayenne models worldwide to fix a headlight locking system that was at risk of becoming detached, the German car manufacturer said Friday.It will be biggest recall in the history of the company.Owners of the luxury sport utility vehicle, Porsche’s most popularmodel, were to receive letters asking them to take their cars to workshops for a free, 45-minute repair.“The headlight locking system on current 2011 and 2012 Cayenne models is being reworked. In-house q
Car importers cut prices after probe announcement

Feb 26, 2012

BMW’s new 3-series 320d slashed by nearly 2.8 million wonEuropean carmakers, which enjoy the largest share of Korea’s import car market, have slashed their prices as the nation’s antitrust regulator launched an investigation into alleged overpricing and unfair business practices.BMW, the largest player here with 25 percent of the import market, rolled out the latest version of its flagship 3-series, the 320d diesel, on Thursday in the 45 million won to 56.5 million won range, down about 2.8 mil
BMW Korea aiming for 15% sales rise in 2012

Feb 23, 2012

The chief executive of BMW Group Korea, the local importer and distributor of BMW AG, said Friday that the German carmaker expects a 15 percent jump in its sales in 2012 from a year earlier on the back of its popular models.“Last year we sold some 27,000 units of BMW and Mini models. We expect the sales of BMW brand cars to rise 13 percent and Mini sales to soar by 40 percent,” Kim Hyo-joon said in a press conference.“Adding the sales of 1,000 units of Motorrad bikes, BMW Korea will see a 15 per
Honda recalling 46,000 vans to fix rear doors

Feb 23, 2012

2010 Honda Odyssey minivans sit on display at AutoPark Honda dealership in Cary, North Carolina, U.S. (Bloomberg)DETROIT (AP) _ Honda is recalling nearly 46,000 Odyssey minivans in the U.S. because the rear doors can fall on people unexpectedly, and have on at least two occasions.The problem affects
Hyundai Motor backs design to drive sales

Feb 19, 2012

After winning a long battle for quality, Korea’s top automaker Hyundai Motor is focusing on beauty.Hyundai, together with its affiliate Kia, was ranked the world’s fourth largest carmaker in 2010 thanks partly to a decade-long drive to improve workmanship.Now the firm sees its core competitive edge as good design, expressed in a “fluidic sculpture” philosophy.“We are now in the global top five and we needed a product that could reflect that, a product that could differentiate itself from other m
Foreign firms flock back to Busan

Feb 19, 2012

Biennial car show expected to be largest ever with participation of 18 automakersThe Busan International Motor Show 2012 is likely to be the largest scale ever, with new offerings from 18 automakers including 13 import brands.The previous Busan Motor Show, which was held in 2010, attracted only two import brands.Two years ago foreign carmakers downplayed the benefits of participation, but this year’s event could be a great chance for the 13 import brands as they are set to unveil a number of ne