Hyundai Motor Group has announced that it will set aside 81 trillion won ($80 billion) in the next three years for various investments that it hopes will raise the company’s global image and status for the next century.This is equivalent to pouring 20.2 trillion won into investment and development every year, even 1 trillion won higher than the South Korean government’s R&D budget of 18.9 trillion won as of 2015. “Through the investment, we will secure core technology essential for future vehicl

THE HAGUE, Netherlands (AP) _ The latest news on the report into the crash of Malaysia Airlines flight 17 in eastern Ukraine last year. All times local.1:45 p.m.The official Dutch Safety Board report on the downing of Malaysia Airlines flight 17 says a missile exploded less than one meter (3.3 feet) outside the cockpit, killing three crewmembers inside and breaking off the forward section of the plane. Safety Board chairman Tjibbe Joustra said the 15-month the investigation found the warhead was

Kakao chairman Kim Beom-soo was again dragged into a gambling scandal that has swirled in the market over the past couple of years. This time, Korean prosecutors have reportedly obtained information from the U.S. Department of Justice and the Department of Treasury that Kakao mobile messenger founder Kim had spent 20 hours and 51 minutes at the Bellagio Hotel in Las Vegas in 2007, when he served as NHN global CEO. He betted an average of $2,440 per session and lost $16,993 within the night, loca

In a backlash against Volkswagen’s emissions-rigging scandal, politicians here are seeking to impose heavier fines on any fabrication in the automobile accreditation processes. Rep. Lee Seok-hyun of the major opposition New Politics Alliance for Democracy on Monday said he would submit a proposal, dubbed the “Volkswagen bill,” that raises the ceiling of fines imposed on automakers who use fraudulent emissions, fuel-economy or safety test results. “The current regulation does not reflect the mark