Category: Transport Vehicles

  • Outbound travelers jump over 40% in July

    Outbound travelers jump over 40% in July

    The number of South Koreans going overseas for vacation jumped more than 40 percent on-year in July as more people flock to foreign destinations despite a prolonged slump in domestic demand, industry data showed Tuesday. Hana Tour Co., the nation’s leading tour agency, said the number of its clients going abroad came to 289,000 last […]

  • Ssangyong Motor returns to profit on Tivoli sales

    Ssangyong Motor returns to profit on Tivoli sales

    [THE INVESTOR] Ssangyong Motor , owned by India’s auto giant Mahindra & Mahindra, bounced back into profit in the first half of the year for the first time in nine years, thanks to the popularity of its Tivoli sport utility vehicle. The automaker posted operating profit of 27.4 billion won (US$24.40 million) in the first half […]

  • Hyundai Mobis Q2 profit jumps 13% on SUV sales

    Hyundai Mobis Q2 profit jumps 13% on SUV sales

    [THE INVESTOR] Hyundai Mobis on July 28 said that it posted a 13 percent increase in second-quarter operating profit from a year earlier, thanks to favorable currency rates and improved supply to sport utility vehicles. South Korea’s largest automotive parts supplier affiliated with Hyundai Motor Group reported the April-June operating profit of 784.7 billion won […]

  • Korea initiates Mongolia into forestry

    Korea initiates Mongolia into forestry

    The Korea Forest Service signed a memorandum of understanding last week with Mongolia’s ministry of environment, green development and tourism to jointly combat desertification, according to KFS officials. The agreement, which was made during Asia-Europe Meeting in Ulaanbaatar, reads that both countries will be in cooperation to contribute to afforesting Mongolian regions where the locals […]

  • Kia Motors unveils new Carens

    Kia Motors unveils new Carens

    [THE INVESTOR] Kia Motors, South Korea’s second-largest automaker, released its new version of compact minivan Carens that features more power, dynamic exterior and affordable price tag on July 26. The new Carens, better known as Ronda in overseas markets, shares the same external dimension with the older model launched in June 2015. “We improved the […]

  • Hyundai’s domestic SUV sales top 2 million

    Hyundai’s domestic SUV sales top 2 million

    [THE INVESTOR] The number of Hyundai Motor ’s sport utility vehicles sold in South Korea has broken the 2 million mark, industry data showed on July 5. Hyundai is the first South Korean carmaker to sell more than 2 million SUVs in the local market. According to industry data, a total of just under 2.012 […]

  • Former chief of Volkswagen Korea summoned over emissions scandal

    Former chief of Volkswagen Korea summoned over emissions scandal

    A former CEO of the local branch of Volkswagen was summoned by prosecutors Tuesday over the German carmaker’s alleged irregularities that came to light following last year’s emissions scandal. The Seoul Central District Prosecutors’ Office summoned Park Dong-hoon as a material witness to gain background information. Prosecutors said his status can change to that of […]

  • Malibu Hybrid misses low-pollution certification

    Malibu Hybrid misses low-pollution certification

    [THE INVESTOR] GM Korea’s Malibu Hybrid has failed to obtain a low-pollution certification, making it ineligible for tax benefits on eco-friendly cars, government and industry sources. On July 3, GM Korea notified through its website that benefits for purchasing hybrid vehicles are not applied to the Malibu Hybrid. According to the Ministry of Environment, the […]

  • Brexit raises concerns over exports

    Brexit raises concerns over exports

    Britain’s departure from the European Union is drawing mixed reactions here, with local experts offering dim prospects for Korean exporters but some others viewing the historic change as an opportunity for the world’s seventh-largest exporter to outpace its rivals in the overall European market. Amid growing concerns, the Korean government said Sunday it would prepare […]

  • Air Busan opens Busan-Ulaanbaatar route

    Air Busan opens Busan-Ulaanbaatar route

    [THE INVESTOR] Air Busan began flying the Busan-Ulaanbaatar route on June 24, becoming the first Korean carrier to operate the route between the two cities. For Air Busan, this is the 17th international route. Air Busan is a budget carrier subsidiary of Kumho Asiana Group’s Asiana Airlines. Air Busan operates Busan-Ulaanbaatar flights on Tuesdays at […]