A group of customers has filed a lawsuit against BMW Korea and its dealer Deutsche Motors over faulty engine parts allegedly susceptible to fire, demanding compensation. Ha Jong-sun, a lawyer at the Seoul-based Barun Law, said Monday that four owners of BMW 520d sedans lodged a suit with the Seoul Central District Court, seeking 5 million won ($4,475) in damages for safety concerns and a drop in car value. The amount of compensation could go up, depending on the results of vehicle evaluation, he

Volkswagen Korea, the local importer and distributor for the German carmaker, is likely to offer a huge price reduction for its latest Passat series, intent to expand sales here.According to local sources, the carmaker has approved dealers to offer nearly 30 percent off the Passat TSI, expected to make its official debut here in mid-August. The retail price of the sedan is projected to be around 36 million won ($32,300), but the final price will drop to around 26 million won, bringing it into th

South Korean auto giant Hyundai Motor has signed a contract to provide up to 1,200 Ioniq hybrid cars to a Singaporean taxi operator, the company said Thursday.The contract states that Hyundai will provide Ioniq hybrids to Comfort Delgro, a Singaporean logistics company, by the first half of 2019. Ioniq hybrid taxi (Hyundai Motor)Starting with the taxi-version of Hyundai’s sedan Sonata, the carmaker has been providing vehicles for Comfort Delgro since 2007. So far, the carmaker has sold about 24,

Despite improved sales of sport utility vehicles, Hyundai Motor’s profit fell 37.1 percent on-year in the first half of this year, due to the strong Korean won and a rise in production cost.The carmaker saw 47.1 trillion won ($42 billion) in sales, a 1.1 percent decrease, and earned 1.63 trillion won in operating profit, the company said in a statement.The worse-than-expected profit came even though the carmaker sold more vehicles than the same period last year. It sold 2.24 million units, a 4.5

LS Cable and System, a South Korean cable maker, has adopted a flexible workhour system and started to power down computers in the evening to prevent overtime, the company said Wednesday. Starting on July 1, the company implemented a 40-workhour system in accordance with the government’s new policy drive to reduce working hours. In addition, the company encourages workers to start and finish their work within the reduced working hours, and asked employees not to send text messages about work aft

Hyundai Motor has invested 22.5 billion won ($20 million) in Mesh Korea, a logistics service provider that runs the brand Vroong, the company said Wednesday.The decision is a part of efforts to secure a new growth engine, the company said, citing the last-mile logistics technology Mesh Korea has developed. Hyundai plans to apply its autonomous and connected car technologies to Mesh Korea’s delivery vehicles, with an aim to develop unmanned delivery services in the future. Last-mile technology re

The Chinese government is set to launch an anti-dumping probe into imported steel products from countries including South Korea, raising concern among local steel companies struggling against rising protectionist measures.China’s Commerce Ministry said via its website Monday that it would look into stainless steel billet and hot-rolled stainless steel plates from South Korea, Japan, the European Union and Indonesia. The probe has been launched at the request of a Chinese steel company, the minis

From the 1986 BMW 5 Series to newly launched M5, several of the German carmaker’s signature vehicles are starring in the new “Mission: Impossible” movie, maximizing its image of dynamic performance and design.In latest sequel, “Mission: Impossible -- Fallout,” BMW vehicles are featured as super cars for action hero Ethan Hunt played by Tom Cruise, and his crew.  　Hollywood star Tom Cruise is seen while filming “Mission: Impossible -- Fallout” on the 1986 BMW 5 Series. (BMW Korea)The BMW M5 that

South Korean automaker Hyundai Motor Co.'s management and labor on Friday agreed to a tentative wage deal for this year, marking the quickest deal in eight years.Under the agreement, the base wage will increase by 45,000 won ($40), with extra bonuses, according to the company. It also included ways to adjust work shifts to reduce working hours.The company and the union also agreed to make concerted efforts to improve productivity and create a 50 billion-won fund to support subcontractor firms."W

SEOGWIPO, Jeju -- The nature of the ongoing trade war between the US and China is in Washington’s ambition to open Beijing’s financial market, a Korean expert on China’s economy said Friday.China’s strengths in the manufacturing sector are too much even for the US, but it has its weakness in financial industry and Trump is targeting that, according to Jeon Byung-seo, head of Institute for China Economy and Finance.“The fundamental motive of the bilateral trade war i

SEOGWIPO, Jeju Province -- Amid growing pressure on Korean Inc. to create new jobs, the head of the nation’s largest group representing the interests of businesses reiterated the need to eradicate the barrier of regulations first, stressing that the political fear of big companies monopolizing the market is excessive.“The fear that large companies have an intention to monopolize the market (when initiating new businesses) and that they would exert an evil influence (on small businesses and start

SEOGWIPO, Jeju Province -- People still think that Apple’s success is in its pioneering work that revolutionized the world with devices beyond imagination. But it is a misled idea and in fact, it is quite the opposite, said a former creative director who spent 12 years with the late IT guru Steve Jobs marketing iconic products.“Apple’s version of innovation is not being the first in the world to come out with the new kind of product category,” said Ken Segall during a press conference on Thursda

SEOGWIPO, Jeju Island -- While upholding the government’s reform drive, the head of the largest group representing the interests of small and large businesses here called for new policy work to spur South Korea’s growth, stressing that the nation’s economy is on a downward spiral. “The handlebar is set for the right direction, but without growth pedaling, we can never go forward,” said Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, at the annual Jeju Forum, likening the

MADRID/SEOUL -- On highways connecting major cities in Spain as well as on the narrow, cobbled streets of old towns, Korean cars have become a common sight. From the all-new i30 to Kona, Hyundai Motor’s latest vehicles are easily spotted on the streets of Europe, probably more frequently than in China and the US, the two major markets being targeted by the company. And most of them are new models. Europe had previously taken a back seat in Hyundai’s export plans but this year’s data shows sales

In an attempt to highlight Clio’s French heritage, Renault Samsung, the French carmaker’s South Korean subsidiary, has decided to use the Renault marque for the hatchback’s sales here.Instead of using Renault Samsung’s “storm-eye” badge, the carmaker has attached Renault’s diamond emblem to the Clio, the company said. It means that the carmaker wants to promote Renault as an independent brand, and also that Clio is a compact vehicle that evolved for a long period of time, it explained. Promotion