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The Korea Herald

Automobiles

May 15, 2019
SK Innovation to invest W580b to build 2nd EV battery plant in China

SK Innovation said on May 15 it will invest 580 billion won ($487 million) to build an electric vehicle battery plant in China. In a regulatory filing, SK Innovation, a latecomer to the EV battery sector, said that it will set up a new battery production base in China to expand its business in ...
May 14, 2019
Hyundai, Kia to invest $90m in Croatian EV maker

Hyundai Motor and its affiliate Kia Motors said on May 14 they will jointly invest 80 million euros ($90 million) in Croatia’s electric carmaker Rimac Automobili. Hyundai Motor Group Executive Vice Chairman Chung Euisun signed a strategic partnership at Rimac’s headquarters in the Eastern Eur...
May 09, 2019
Daimler, Volvo to recall 259 dump trucks

Daimler Trucks Korea and Volvo Trucks will voluntarily recall 259 vehicles to repair faulty components, the Transport Ministry said on May 9. This is the latest in a series of recall plans for local and foreign carmakers and importers of foreign vehicles. Daimler Trucks and Volvo Trucks pla...
May 08, 2019
Hankook Tire, affiliates change company names

Hankook Tire Group, South Korea’s biggest tire manufacturer by sales, said on May 8 it has changed the names of its affiliates to better reflect its efforts to transform itself into a technology-focused company. Hankook Tire WorldWide, the holding company of the world’s seventh-biggest tire m...
May 08, 2019
Kia launches upgraded Stinger sports car

Kia Motors on May 8 launched the upgraded Stinger sports car with more safety features to boost sales in the domestic market. The 2020 Stinger comes with a 2.0-liter gasoline turbo engine, a 3.3-liter gasoline turbo engine or a 2.2-liter diesel engine. The upgraded model is mated with Michelin ...
May 07, 2019
Imported car sales down 30% in April

Imported vehicle sales in South Korea fell 30 percent in April from a year earlier due mainly to a supply shortage, industry data showed on May 7. The number of newly registered foreign vehicles stood at 18,219 in April, down from 25,923 a year earlier, the Korea Automobile Importers and Distri...
May 07, 2019
Renault Samsung to halt plant operations again

Renault Samsung Motors said on May 7 it plans to temporarily halt operations at its only plant later this month amid an extended dispute with its labor union over wages. The carmaker plans to suspend the operation of the Busan plant, 450 kilometers south of Seoul, for several days in late May, ...
May 05, 2019
Gov't orders recall of 11,500 imported automobiles

South Korea's transport ministry on May 5 issued recall orders for 11,500 units of 58 different imported cars, including those from BMW, Volkswagen and Honda. The Ministry of Land, Infrastructure and Transport said 2,461 units of Germany-based carmaker BMW's 320d and 116i models will be recalled, ...
May 02, 2019
Renault Samsung’s net profit falls 27% in 2018

Renault Samsung Motors said on May 2 its net profit plunged 27 percent in 2018 from a year earlier on weak sales. Net profit fell to 222 billion won ($191 million) last year from the previous year’s 305 billion won, the company said in a regulatory filing with the Financial Supervisory Service...
May 02, 2019
GM Korea’s net loss narrows in 2018

GM Korea said on May 2 its net loss narrowed in 2018 from a year earlier on cost-cutting efforts. Net loss narrowed to 859 billion won ($738 million) for the whole of 2018 from 1.63 trillion won a year earlier, the company said in a regulatory filing. Its operating loss also narrowed to 615...
April 30, 2019
Tire makers fined W5.9b won for unfair biz practice

South Korea’s antitrust regulator said on March 30 that it has fined Kumho Tire and Nexen Tire a combined 5.9 billion won ($5 million) for forcing their dealers to sell tires at above certain prices. Kumho Tire, the Korean unit of Chinese tire maker Qingdao Doublestar, allowed online sellers o...
April 29, 2019
SsangYong Motor’s net loss narrows in Q1

SsangYong Motor said on April 29 its net loss narrowed in the first quarter from a year earlier on robust sales of sport utility vehicles. Net loss narrowed to 26 billion won ($22 million) in the January-March quarter from 34 billion won in the year-ago period, the company said in a statement. ...
April 29, 2019
Renault halts operations at Korean plant amid labor dispute

Renault on April 29 temporarily halted operations at its only plant in South Korea amid a drawn-out dispute with its labor union over wages and working hours. Renault Samsung Motors, the Korean unit of the French carmaker, plans to suspend the operation of the Busan plant, 450 kilometers south ...
April 18, 2019
8 foreign carmakers to recall over 20,000 vehicles

Eight foreign carmakers and importers of foreign cars will voluntarily recall over 20,000 vehicles to repair faulty components, the Transport Ministry said on April 18. This is the latest in a series of recall plans for local and foreign carmakers and importers of foreign vehicles. Jaguar, ...
April 15, 2019
High-emission vehicles to be restricted from downtown Seoul

High-emission vehicles will be restricted from the center of Seoul beginning in July this year, as part of the municipal government’s new policy measures to reduce fine dust pollution in the capital, it was announced on April 15. Grade 5 emission vehicles, mostly diesel cars, will be barred fr...

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