Korean Air Lines Co., South Korea's national flag carrier, said Thursday it will secure 557.8 billion won ($470 million) through a property sale as part of its efforts to improve its financial status amid a prolonged COVID-19 pandemic. On Friday, Korean Air will sign a deal to sell its land and building at Songhyeon-dong in central Seoul to the public housing developer Korea Land & Housing Corp., the company said in a regulatory filing. LH will exchange the Songhyeon-dong site with

Polestar, the former Volvo company that spun off to become its own brand, announced its launch in South Korea on Tuesday. Aiming to become the game changer of the local EV market that is seeing a growing demand for the green vehicles, the EV company will introduce its first model Polestar 2 on Jan. 18. Polestar 2 is a five-door fastback equipped with a 78 kWh battery and two electric motors that can produce 408 horsepower. “We will be introducing Polestar 2 to our Korean customers at

Renault Samsung’s Master van has become a popular choice as a school bus and as a camping car in South Korea due to its safety and customizable features. The Master van, first introduced in 2018 in South Korea, offered enhanced safety and a business solution for its customers, the company said on Monday. “Parents are relieved to see that we use Renault Master as our academy bus to pick up students. The van has a 3 point seat belt so our students feel safe and comfortable when ridin

With limited metal sources being hurdle for expansion, Korean manufacturers rush to recycle used batteries

Hyundai Motor Group said Sunday that environment-friendly vehicles topped 10 percent of its global car sales for the first time this year amid growing demand for electric cars. The country's top automotive conglomerate said its two carmakers, Hyundai Motor Co. and Kia Corp., sold a total of 656,479 eco-friendly vehicles globally in the January-November period, 10.7 percent of their entire sales of 6.12 million units. The growth marks a sharp increase from 2015, when the annual sales of such ca

Hyundai Motor Group unveiled its Mobile Eccentric Droid, or MobED, a small mobility platform using cutting-edge robotics technologies, Thursday. MobED has a flat rectangular body with four wheels that can each move independently so its body can remain stable even on slopes and bumpy roads. One of its features is the independent suspension of the wheels, which allows them to navigate a narrow and complex urban environment. MobED’s “Eccentric Wheel” system has three motors att

 Audi Korea sold a total of 21,242 cars from January to November this year, becoming the third-best-selling imported carmaker in Korea, the automaker said Wednesday. According to Audi Korea, it launched various premium and high-performance models such as sedans, SUVs, and electric vehicles this year to enhance its brand image in South Korea as a premium mobility brand. The carmaker accumulated its EV line up in South Korea by launching the Audi R8 V10 Performance in February, followed by

Kia Motors, the nation’s second-biggest carmaker, has claimed the No. 2 spot in EV sales in Sweden this year, outpacing its US rival Tesla. According to market tracker EU-EVs on Sunday, Kia sold a total of 6,018 EVs in the January-November period this year, becoming the second highest-selling EV brand with a 12.7 percent market share. At the top of the list was Volkswagen, which sold 9,296 vehicles for a 19.6 percent market share. During the same period, Tesla sold 5,666 EVs, claiming

Here is how you can save yourself with an excuse letter

The Korea Automobile Journalists Association said Monday that it has chosen Hyundai Motor’s luxury brand Genesis’ GV 60, its first electric car based on its exclusive EV-dedicated modular platform, as its car of the month. Every month, the association selects its best model among new vehicles and updated versions that were launched within the past month, based on five criteria including exterior and interior design, powertrain performance, safety and comfort features, energy efficie

South Korea will increase the number of electric vehicle chargers at highway service areas nationwide to over 1,000 by the end of 2022, the transport ministry said Sunday. Currently, there are 435 EV chargers at the country's highway rest stops. The government plans to increase the number to 730 by the end of this month and then add more than 300 chargers next year, it said in a press statement. The move is meant to help meet rising demand for EVs and the charging infrastructure, as the gover

Former presidential adviser says political talks at highest level essential to forge efforts on cross-border project

German luxury carmaker’s eFuel is about saving combustion engine, its tradition in face of EV boom

From Seoul to London, getting a cab home is a headache amid post-pandemic taxi shortage

Biannual auto extravaganza, though downsized under COVID, exhibits heated race for green technology