The Korea Herald

Car exports, imports up despite economic woes

Dec 25, 2011

Hyundai-Kia’s exports to surpass 2m units; import car sales to top 100,000 units in 2011The overall automotive industry of Korea posted robust sales growth in 2011, despite global economic woes in the wake of the eurozone debt crisis.Korean companies, such as Hyundai Motor and Kia Motors, saw exports surge and foreign companies, including BMW and Mercedes-Benz, expanded their presence in the local market.As for German and Japanese brands, Hyundai and its affiliate Kia have been recognized as pow
Ex-BMW official to head design for Hyundai cars

Dec 23, 2011

Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Center Inc. in the U.S.Chapman takes over from Philip Zak, who joined Hyundai Motor from General Motors in 2009 and recently returned to GM.The company expects that Chapman will strengthen Hyundai’s new automobile design and support the ongoing regeneration o
Ex-BMW official to head design for Hyundai cars

Dec 23, 2011

A captured photo from SBS`s TV drama "Secret Garden" (SBS)Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Ce
Hyundai’s Chung No. 2 in world auto power list

Dec 22, 2011

Hyundai Motor Group chairman Chung Mong-koo was selected as the second-most influential figure in the world’s automotive industry by U.S.-based publication Motor Trend.Last year, Chung ranked fifth on the “power list” named by the auto magazine.Over the past few years, Hyundai Motor and its affiliate Kia Motors have achieved all of the goals Chung set, the magazine said. It also said competitors, including Toyota Motor, Volkswagen, Ford Motor and General Motors, are paying keen attention not to
Kia Motors introduces electric model for Ray

Dec 22, 2011

Kia Motors Corp., the second-largest carmaker in the country, introduced its first all-electric version of the small urban vehicle Ray Thursday.The affiliate of Hyundai Motor Corp. said it will produce about 2,500 zero-emission versions of the Ray next year for government use.“We are supplying an all-electric version of the Ray for government use next year, but we’re ready to also produce it for the general public as soon as infrastructure for the battery recharge is ready,” Suh Choon-kwan, head
Chung named influential figure in auto industry

Dec 22, 2011

Hyundai Motor Group chairman Chung Mong-koo was selected as the second-most influential figure in the world’s automotive industry by U.S.-based publication Motor Trend.Last year, Chung ranked fifth on the “power list” named by the auto magazine.Over the past few years, Hyundai Motor and its affiliat
Hyundai Motor’s Eon, Verna named best cars in India

Dec 21, 2011

Hyundai Motor Co.’s Eon and Verna small-size cars have been respectively named the “best cars of the year” in their segments in India, industry sources said Wednesday.The Eon, Hyundai’s hatchback city car, has been named the micro-mini car of the year by the Overdrive automotive review program aired on CNBC-TV18, according to the sources.The model made by South Korea’s largest carmaker features an 800cc engine, and was launched in the local market in October, with sales hitting 7,418 units last
Hyundai Motor chief puts priority on quality of high-speed train

Dec 19, 2011

Hyundai Motor Group promoted six top management personnel at major units on Monday as part of chairman Chung Mong-koo’s business policy to secure internal strength.Jung Soo-hyun, who worked as a CEO of Hyundai E&C, was promoted to president and CEO of Hyundai Group’s construction unit, taking the No. 1 position in the company.Hyundai Mobis CEO Jun Ho-suck will lead the auto parts producer as the president and CEO, taking over the role of the outgoing vice chairman.Previously, the two companies w
Kia Motors grabs highest China market share in 6 years

Dec 18, 2011

Kia Motors Corp. captured its highest share of the Chinese market in six years in November, gaining momentum in the world’s most populous market, company officials said Friday, Kia posted a China market share of 4.1 percent last month, the largest since October 2005 when it reached 4.7 percent.Kia achieved record China sales of 45,768 units last month with the newly launched mid-sized sedan K2 leading the way, the officials said. The K2, also known as the Rio in the U.S. and European markets, hi
Carmakers gear up for launches for 2012

Dec 18, 2011

Kia plans to release K9, Hyundai 2012 Santa Fe while GM’s Corvette may hit the roadThe auto industry is set to roll out a series of new cars next year in all styles from sedans to SUVs to sports cars. The new cars in store include the premium sedan K9 from Kia Motors Corp., the 2012 Santa Fe from Hyundai Motor Co., Corvette, the sports car from GM, and the new BMW 3 series 320d and 320ed. BMW Korea confirmed that it will bring in 320d and 320 Efficient Dynamics, the sixth generation of its 3-ser
Kia Motors grabs highest China market share in 6 years

Dec 16, 2011

Kia Motors grabs highest China market share in 6 yearsKicker: Kia‘s Morning named best city car in FranceKia Motors Corp. captured its highest share of the Chinese market in six years in November, gaining momentum in the world’s most populous market, company officials said Friday, Kia posted a China market share of 4.1 percent last month, the largest since October 2005 when it reached 4.7 percent.Kia achieved record China sales of 45,768 units last month with the newly launched mid-sized sedan
Young customers account for 22% of import car buyers

Dec 13, 2011

The ratio of young customers to total buyers of import cars has surged by about 10 percentage in five years.According to the Korea Automobile Importers and Distributors Association, the number of buyers of foreign-made cars in their 20s and 30s accounted for 22.7 percent of customers in 2011, compared to 12 percent in 2006.The proportion young customers in the import automobile market, which stayed below 10 percent 10 years ago, continued to increase to 17.6 percent in 2009 and 20.3 percent in 2
Hyundai Motor chief stresses internal strength

Dec 12, 2011

Hyundai Motor Group chairman Chung Mong-koo called for heads of overseas corporations to prioritize enhancing internal stability amid the unfavorable global market conditions.His remarks come during a meeting of overseas corporations’ presidents from countries such as the U.S., China and India with the Hyundai-Kia staff at their headquarters in Seoul.Chung was quoted by a Hyundai executive as saying that “Hyundai Motor and Kia Motors have posted great performances. The global automotive industry
Cube boxes premium sedans for import car top spot

Dec 11, 2011

Nissan’s small car battles BMW 520d,Mercedes E300 for the best-selling title in KoreaThe competition to becoming the best selling foreign car in Korea is becoming a showdown between a box-like Japanese car and two German premium sedans.The Cube of Nissan has emerged as a powerful player in the nation’s import car market, becoming the best-selling model last month.In November, the Cube, a multi-purpose vehicle, beat the two previously most popular models ― the 520d of BMW and the E300 of Mercede
Toyota cuts annual profit forecast after Thai floods disrupt output

Dec 11, 2011

Toyota Motor Corp.’s recovery is proving tougher than anticipated.Already poised to lose its crown as the world’s largest carmaker this year, Toyota yesterday cut its profit forecast by more than half after Thailand’s worst floods in almost 70 years disrupted output of Camry and Prius vehicles. While the rebound at rival Nissan Motor Co. accelerates, Asia’s largest automaker has lost four times more production in the floods.“It’s acts of God after other acts of God,” Jody Lurie, an analyst at Ja