BMW Korea, the local importer and distributor of the German luxury carmaker, is under growing pressure from the government and public to submit technical and auto parts documents to narrow down the reason for engine fires.“We urge BMW to take a responsible stance in the issue and provide substitute cars for owners alongside documents related to auto parts and technology promptly,” the Ministry of Land, Infrastructure and Transport said Friday.BMW Korea is scheduled to transfer the documents cont

The Ministry of Transport and Land on Friday advised the owners of BMW 520d sedans to refrain from driving the vehicle, citing safety issues.“(We advise) owners of the vehicles subject for recall to receive a safety check up as soon as possible and refrain from driving the vehicle until safety is ensured,” said Sohn Byeong-seok, the first transport vice minister.While apologizing for causing public concern, the vice minister said that the government would conduct a thorough investigation into th

Hyundai Motor has launched a campaign and programs tailored for female drivers in Saudi Arabia, joining a slew of global automakers eyeing a stake in the market to hike up sales in the region, the company said Thursday.During the company’s meeting of overseas representatives held last month, Hyundai said it would bolster sales in the Middle East in the second half of the year by targeting the Saudi Arabia market where a ban on female driving was lifted on June 24. A task force has been set up th

BMW Korea, the local importer and distributor of the German carmaker, will provide free car rentals for vehicle owners affected by its voluntary recall issued last week, the company said Wednesday.Owners of the 106,317 vehicles recalled related to an issue with engines catching fire will be able to rent cars free of charge in accordance with Korea’s standard auto insurance policy.In efforts to contain further incidents, BMW Korea plans to complete checkups on about 7,000 BMW vehicles that have b

SK Innovation rose six ranks on a list of this year’s global top 50 chemical companies complied by Chemical & Engineering News magazine, backed by its drive to beef up its chemical venture beyond its oil refinery business, the company said Wednesday.According to Chemical & Engineering News, published by the American Chemical Society, SK Innovation ranked No. 38 out of 50 global chemical firms, climbing up six notches compared to last year and showing the second-biggest improvement among the surv

Amid escalating controversy over some BMW vehicles that allegedly caught fire without external factors here, a fire reportedly started in the engine of a Lamborghini Aventador, burning nearly half of the vehicle, according to authorities and news reports Tuesday.According to the local fire department, a car fire broke out in the rear engine of the 2013 model year Aventador on a road in Yuseong-gu, Daejeon, around 2:08 p.m. Monday. The driver pulled over to the shoulder after detecting the fire t

Hyundai Motor’s fourth-generation midsize sport utility vehicle Sante Fe is revamped for the first time in six years, geared with features for higher convenience and cutting edge safety suits.Like the Kona small SUV, the new Santa Fe also carries Hyundai’s trademark features of enlarged and contemporary exterior. The family SUV carries Hyundai’s signature hexagonal cascading grille and a composite light with light emitting diode daytime running lights placed on top of LED headlights.The enlarged

Hands Corporation, a local aluminum wheel manufacturer, will complete construction of a factory in Morocco by 2024 with aims to expand its presence in Europe, the company said Monday. The company had announced construction of the Morocco factory in August last year and the groundbreaking ceremony was held in April.“By cooperating with the Moroccan government, we will do our best to become an example of successful expansion there. Also our goal is to post 1 trillion won ($895 million) in earnings

Hyundai Oilbank, a South Korean petroleum and refinery company, will invest 2.7 trillion won ($2.4 billion) through 2021 to build a heavy feed petrochemical complex in South Chungcheong Province in a bid to diversify its business portfolio, the company said Monday.The company has forayed into olefin and polyolefin production via its affiliate Hyundai Chemical in May.The heavy feed petrochemical complex will have the capacity to produce 750,000 tons of polyethylene and 400,000 tons of polypropyle

While hinting at possible restructuring, the new chief of the nation’s largest steelmaker vowed to hire outsiders to nurture the company’s nonsteel sectors, such as bio. Choi Jeong-woo, who was named Posco’s ninth leader at a shareholders meeting Friday, said he sees opportunities for Posco in the bio sector, describing the new growth engine as “seed business.”Choi viewed Posco’s search for new business opportunities so far as a failure, and he wants to turn that around by scouting outsiders.“Mo

SK Group Chairman Chey Tae-won delivered $10 million in relief funds for victims of the massive flood in Laos, the company said Friday.“Words cannot comfort Laotians who have lost families and homes in the disaster. All-out efforts will be made for Laos to recover as soon as possible, and heal those whose hearts have been hurt,” said Chey.Chey delivered $10 million to Laos Ambassador Khamsouay Keodalavong at the Laos Embassy in Hannam-dong, central Seoul.A hydroelectric dam in Laos under constru

South Korea’s No. 1 steelmaker Posco has named former Posco Chemtech CEO Choi Jeong-woo as its ninth chairman, highlighting “With Posco” as its vision alongside possible restructuring, the company said Friday.Choi was appointed the chief of the world’s fifth-largest steel company with 97.6 percent of votes from shareholders at a general meeting of stockholders on Friday morning.“Posco needs to be armed with a new vision to leap forward in the next 100 years. Under the new vision ‘With Posco,’ we

BMW Korea, the local importer and distributor of the German luxury carmaker, will voluntarily recall 106,317 units of the 520d sedan and 41 other models due to a faulty exhaust gas recirculation module following a series of BMW engines catching fire, the government said Thursday.This is the first time in any country for BMW to recall vehicles due to flammable exhaust gas recirculation.According to the Ministry of Land, Infrastructure and Transport, fires had been set off due to defective exhaust

Posco Daewoo, the trading arm of South Korean steel giant Posco, said Thursday its executives will spend over 10 percent of their monthly income to purchase company stocks in a bid to contain a value plunge following a recent gas pipeline accident in China. Seventy-six executives are to take part in the efforts starting with next month’s pay.Shares of Posco Daewoo have dropped about 30 percent since early June due to concerns of a setback in gas supply following the explosion of a gas pipeline o

POCHEON, Gyeonggi Province -- At first, the achievements of Lee You-mi, director general of the Korea National Arboretum, as the first woman to be tapped as the chief of the organization in 2014 may simply sound genteel and classy.But just minutes into talking with Lee, there is so much more to her and her story.While the stereotype of botanists are of those examining plants in a research lab, Lee said they are in fact adventurists, setting out to explore and find rare plants in wildlife.Nicknam