SsangYong Motor Co. said Friday it has graduated from the court-led debt rescheduling program nineteen months after it was placed under court receivership amid the COVID-19 pandemic. SsangYong Motor applied for court receivership on April 15, 2021, after its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor due to its worsening financial status amid the pandemic. The Seoul Bankruptcy Court approved SsangYong's debt payment plans in August after the court picked a loca

South Korea's car exports jumped 28.5 percent on-year last month on brisk demand for eco-friendly cars, data showed Friday. The value of outbound shipments of automobiles came to $4.92 billion last month, the largest ever for any October, according to the data from the Ministry of Trade, Industry and Energy. In terms of volume, a total of 208,544 vehicles were sold last month, up 30.2 percent from the previous year, the data showed. By region, exports to North America jumped 60.2 percent to $2.3

A concept model of Hyundai Motor's personal air vehicle S-A1 is displayed Thursday at the 2022 K-UAM Confex exhibition, an urban air mobility event, held at a hotel in Yeongjong Island, near Incheon. It runs through Friday.

Renault Korea said Tuesday it sold a total of 2,007 units of the QM6 in October, as the top-selling LPG SUV increasingly appeals to drivers with its spacious interior and comfortable driving. The sales figure accounted for nearly half of the total car sales of the French carmaker, at 4,339 last month. The car’s exports also surged 41.9 percent to 2,449 units compared to the same period last year. The carmaker picked the car’s spacious interior as the key point of attraction to local

Carmaker's partnership with Chinese investment bank signals changes in its stance since THAAD

Guro Station during rush hour is the most congested in Seoul

It's for free until next year

Hyundai Motor Group Executive Chair Chung Euisun visited Slovakia to request its support for South Korean port city Busan’s bid to host the World Expo in 2030, to the auto giant said Sunday. Chung visited Slovakia on the leg of his European trip to meet country leaders. He met with Czech Prime Minister Petr Fiala last week. Slovakia holds a significant status as the chair country of Visegrad Group, a cultural and political alliance of four Central European countries that also includes Czec

Hyundai Motor Group will launch promotional activities in Latin America to support South Korean port city Busan’s bid to host the 2030 World Expo, the carmaker said Thursday. According to the company, Hyundai Motor President and CEO Chang Jae-hoon will visit three Latin American countries – the Bahamas, Chile and Paraguay – and meet high-level government officials to explain Busan's competitiveness and the port city’s future vision for hosting the global event. The Latin

Advanced plan to build US plant signifies Hyundai's drive to expand overseas production but came in desperate attempt to counter IRA

Overseas flight bookings skyrocketed during the first three weeks of this month by 1,336.3 percent compared to the same period last year, according to Interpark on Tuesday. The noticeable increase of overseas travel bookings comes after COVID-19 travel restrictions have been lifted not only in South Korea but in other popular tourist spots as well, says the online ticketing site. Japan was topped the list of popular travel destinations with 48.2 percent of flights booked heading there. The numbe

Mercedes-Benz Korea has donated vehicles to local communities for seven consecutive years as part of its social outreach project called Mercedes-Benz All Together, according to the company on Tuesday. Mercedes-Benz Korea launched its Mercedes-Benz CSR Committee in 2014 to make a systematic and continuous contribution to Korean society such as donating cars to social welfare institutions. The committee has donated a total of 44 vehicles to 43 institutions as of this year, the German carmaker said

Renault Korea said Tuesday it has supplied 67 of its popular sport utility vehicle QM6 to law enforcement, to be used by local detectives and riot police officers. Renault Korea’s QM6 model was recognized by police officials as being fit for police operations for its low noise levels and spacious interior, the automaker explained. QM6 boasts the most spacious back seat among SUVs in the similar range. With the back seats folded, it opens up 2,000 liters of cargo space when including the tr

It’s no wonder why Volkswagen took a while to introduce its electric vehicle in South Korea. With its all-electric SUV ID.4, the German carmaker offers an accessible EV solution for local customers pursuing an eco-friendly family life. The electrified midsize SUV boasts remarkable spaciousness. It is big enough to accommodate a family as well as equipment for activity lovers. There is enough leg- and headroom in both the front and back seats, and the trunk is capable of storing up to 543 l

Hyundai Motor on Monday reported 37.7 trillion won ($26.2 billion) in total sales for the third quarter, an increase of 30.6 percent on-year. It was boosted by a significant increase in global sales, which the automaker forecast would expand in the final quarter as the auto parts supply crunch eases. Hyundai Motor sold 1.02 million cars from July to September, according to a regulatory filing. The third quarter is regarded as a low season for the carmaker, as employees take vacations for the sum