Seven distributors of foreign car brands in South Korea are voluntarily recalling more than 12,000 vehicles over faulty parts, the Ministry of Transport said Monday.Audi Volkswagen Korea, FCA Korea, Porsche Korea, Scania Korea, Bike Korea, Moto Rossa and Hanbul Motor -- which imports Peugeot and Citroen vehicles -- will recall 12,053 units of 16 models.VW’s Tiguan was found to have a faulty air bag while Peugeot 5008 1.5 BlueHDi SUV reported problems with the spare tire holder. Defects in

Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been promoted as the vice president of Hanwha Q Cells and Advanced Materials, the conglomerate’s solar panel maker.The 36-year-old chaebol scion has been serving as the chief commercial officer and a senior executive of Hanwha Q Cells for four years. Officials said he was promoted in recognition of his contributions in raising the company’s profile as the world’s leading photovoltaic panel manufacture. H

A corporate social responsibility project by Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, will join the 2019 Seoul Design Festival that kicks off Wednesday for a five-day run.Taking place at Coex in southern Seoul, the annual event invites prominent designers, design brands and companies to exchange their artistic talents and to support local designers in making international debuts. Recipients of Han Sung’s Dream Gream scholarship program will demonstr

The two-year hiatus in South Korea where Audi Volkswagen Group held years of market leadership has been a lesson to reorganize its operational structure and restore strength for another leap forward, according to a top executive. Audi VW Korea Group Managing Director Rene Koneberg told The Korea Herald that the company is “back on the track” to regain market leadership next year, armed with a wide range of lineups and customer services reinforced in line with restoration of public tr

FINANCIER OF THE YEAR/ NH CAPITAL　Under the leadership of CEO Lee Koo-chan, NH Capital, a subsidiary of South Korea’s leading banking group NH NongHyup Financial Group, is making a foray into the fast-growing financing markets in Asia, as part of its efforts to diversify its business portfolio and raise its profile as a global financial firm. With the corporate vision of becoming a global credit-specialized financial company, NH Capital plans to sign partnership agreements with agricultura

Hyundai Glovis said Thursday it has launched two joint ventures in China to make a foray into the local used car and shipping markets.The subsidiary of Hyundai Motor Group and Beijing Changjiu Logistics have set up two separate JVs -- Beijing Changjiu Glovis Automobile Service and Shanghai Changjiu Glovis Shipping. The two JVs will be launched early next year, the company said without disclosing the size of investments.The first JV seeks to target China’s growing secondhand car market, whi

Backed by diplomatic ties between South Korea and Southeast Asia, the nation’s sole aircraft manufacturer Korea Aerospace Industries is stepping up efforts to expand the sale of advanced aircraft to the region, touting its technological strengths and cost effectiveness.Taking the ASEAN-ROK Commemorative Summit in Busan this week as an opportunity to showcase its cutting-edge aircraft to leaders of Southeast Asian countries, KAI said it hopes to contribute to expanding cooperation with defe

ANYANG, Gyeonggi Province -- The economies of Association of Southeast Asian Nations members have been on a roller-coaster ride in recent years, pushing them to speed up their social and industrial transitions as advanced states. Such rapid modernization, like that which South Korea went through in the 1970s and ’80s, involves massive investments in infrastructure, which will provide more opportunities for LS Cable and System Asia, said its President and CEO Kwon Young-il in an interview.&

Kia unveiled the third generation of its bestselling sedan K5 on Thursday and commenced preorders, highlighting its futuristic design and interactive voice control technology.Through the use of “active” interaction technology, passengers can control the air conditioner, air filtering, windows, electronic heat systems for the seats and rear window via voice commands, according to the company. In addition, a car-to-home system allows passengers to keep a tab on internet of things devic

Korea Aerospace Industries, South Korea’s sole aircraft manufacturer, is participating in a four-day exhibition in Bangkok to promote its technological competitiveness and to pursue new contracts from the Southeast Asian country, ranked 26th in military strength.At the Defense and Security 2019, KAI will introduce three major products that have already won international recognition for their advanced technological features and competitive prices. The list includes KT-1, a single engine tur

Renault Samsung, the South Korean subsidiary of French carmaker Renault, has been targeting the niche markets of liquefied petroleum gas and commercial vehicles in recent months, to promote sales in the face of intensifying competition and a sluggish economy. QM6, a mid-sized sports utility vehicle powered by LPG, has boosted sales in the carmaker’s SUV segment by attracting customers looking for alternatives to diesel-powered SUVs here. Sales of SUVs with diesel engines have lost steam am

Kia Motors said Tuesday its new sport utility vehicle targeted for North American market was named SUV of the year by an auto publication MotorTrend. The magazine also chose Peter Schreyer, president and head of design management of Hyundai Motor Group as the “person of the year.” Kia is a sister company of Hyundai Motor, South Korea’s largest carmaker.  Describing Telluride as a new flagship SUV that has raised Kia’s profile, the magazine said seven of its 11 judges

A majority of top South Korean companies listed on the nation’s major bourse saw their operating profits fall rapidly in the third quarter on-year over protracted trade disputes and the stagnant global economy, data showed Monday.According to Infobigs, a data analysis unit of Yonhap News Agency, the combined operating profits of 90 affiliates from top 10 conglomerates plummeted 75 percent between July and September to 6.16 trillion won ($5.3 billion) from 25.28 trillion won in the same per

South Korean automaker Hyundai Motor ranked No. 1 on a list measuring carmakers’ corporate social responsibility activities in terms of the impact they had on the Chinese community, the company said Monday. According to an index published by the CSR Research Center of the Chinese Academy of Social Sciences, Hyundai topped the list for the fourth consecutive year. It also climbed up one notch to fourth place in a separate ranking that listed companies across industries. The research institu

The first all-electric car launched by Mercedes-Benz Korea recently landed here, jumping into the eco-friendly car market which is still small but promising and currently dominated by Hyundai Motor and Kia Motors.Its main design concept “progressive luxury” instantly suggests where the German carmaker is headed, and is enough to excite its fans here with futuristic elements. But the question is: Can the EQC compete with other electric vehicles that have a driving range of h