The Korea Times

Renault Samsung Motors' facelift trio boost sales

Renault Samsung Motors’ new crossover utility vehicle, the QM3, alongside the QM5 Neo and SM3 Neo, has been pushing up the automaker’s sales. / Courtesy of Renault Samsung MotorsBy Park Jin-haiFaced with foreign carmakers launching new lineups and conducting aggressive sales promotions to increase market share, Renault Samsung Motors is upbeat about its future. In April, the company set a new record by selling 12,542 cars, up 15.4 percent year-on-year. Domestic sales were up 35.7 percent at 6,153 in the same period. Boosted by its improved sales, it now says that it has gone a step closer to reaching its goal of becoming the No. 3 market player following Hyundai Motor and Kia Motors.“It is the design change. The trio of the QM5 Neo, QM3 and SM3 Neo  facelift models with more modern and dynamic designs  have been pushing up sales from last year,” said Renault Samsung Chief Executive Francois Provost in a statement.The automaker has been building a family look or design integration for major models in a bid to increase its brand recognition. Benef

May 26, 2014By Park Jin-hai

Companies

Hyundai Motor to hold hiring session in US in Aug

By Park Jin-haiHyundai Motor will hold an overseas recruitment session in the United States in hopes of tapping into the global talent pool. For the “4th Hyundai Global Top Talent Forum,” to be held in San Francisco from Aug. 22-24, graduate students holding master’s or doctorate degrees in natural sciences or engineering may apply, it said. Those who have auto-related work experience can also apply. Instead of the regular hiring process, the three-day event will take on the look of a forum, where applicants will present their ideas about how to innovate the automotive technology by incorporating their areas of specialty.“Tapping into the global talents in various fields, who can develop core technologies and spearhead innovation, is integral to secure the company’s market-leading competiveness,” said a public relations official. The company declined to disclose how many recruits for which it will be looking.With the theme of “Technology leads the next generation for automotive industry,” a total of six sessions in areas ― performa

May 22, 2014By Park Jin-hai

Companies

GS Group chief stresses 'safety-first' management

By Park Jin-haiHuh Chang-sooGS Group ChairmanGS Group Chairman Huh Chang-soo said on Wednesday that “safety-first” management is essential for future growth of the group. At an in-house “GS Value Creation Forum” at its headquarters in Yeoksam-dong, southern Seoul, Huh said that safety issues should not just be the responsibility of a few people in managerial positions.He said the group must also learn lessons from the tragic sinking of the Sewol ferry.“Safety is something everybody should keep at all costs. The safety-first principle should be incorporated into our corporate culture,” he said. The forum is an annual event for the group where some 400 CEOs and senior staffers share their yearly achievements and cases of innovative management.“Preventing and eliminating the possible causes of accidents is important. But, equally important is the after-theincident emergency system,” he said. “In the event of an accident, we should judge the situation based on facts and urgently respond to it at the site. That is the way we can r

May 21, 2014By Park Jin-hai

GS Group chief stresses 'safety-first' management

Companies

Boeing Korea announces new president

By Park Jin-haiEric JohnEric John, a long-time U.S. career diplomat, has been named to head Boeing Korea.The U.S. aircraft manufacturer’s Korean office announced Wednesday that its new president will join the company on May 30 and begin his work as early as June. John will succeed Pat Gaines, who retires in September after serving 27 years with Boeing. John is known to many as a specialist on Korea. He served three tours here after he joined the Foreign Service in 1983. Most recently he worked as the minister counselor for political affairs at the U.S. Embassy in Seoul. He also served as the deputy director of Korean affairs in Washington, D.C. “Eric brings valuable experience from the public sector and international government operations, and will help further expand our presence and collaboration with Korean customers, partners, communities and employees,” said Shep Hill, president of Boeing International and senior vice president of business development and strategy in a recent interview. John, a graduate of the Georgetown University School of Foreign Service, ho

May 21, 2014By Park Jin-hai

Companies

Hyundai Motor to recall 140,000 SUVs in US

By Park Jin-haiHyundai Motor will recall more than 140,000 Tucson crossover utility vehicles in the United States and Puerto Rico due to airbag assembly defects. It is recalling 137,500 Tucsons in the United States as well as 3,500 in Puerto Rico, from model years 2011 to 2014.According to a report the company filed with the National Highway Traffic Safety Administration, two bolts tightening the driver’s airbag to the steering wheel may become loose, which might result in injury to the driver in the event of a collision. The company is currently grappling with a U.S. court verdict, delivered on May 13, ordering it to pay $248 million in damages for a 2011 accident which killed two teenagers aboard a Tiburon sports car. It is seeking an immediate appeal against the verdict.Industry watchers say that both the recall and the U.S. verdict will have limited impact on the company’s earnings. “The Tiburon model was phased out of the market from 2001. And the reason for the accident is not clear at the moment,” said Kim Pyung-mo, an analyst at Dongbu Securities, Mond

May 19, 2014By Park Jin-hai

Companies

Mercedes E-Class cruises to record sales

New look, updated safety features charm local customersBy Park Jin-haiMercedes-Benz Korea has beaten its long-time rival BMW in the Korean market for the first time. The German luxury carmaker sold a record-high 3,310 vehicles here last month, up 42.4 percent from a year earlier on the rising popularity of its premium sedan E-Class. Domestic motorists bought up a total of 1,666 E-Class models in April, making it the country’s best-selling imported car, according to data from the Korea Automobile Importers and Distributors Association (KAIDA). Although German automakers are the market players in the imported car segment, it is a commanding feat for the company, since the title has been long held by its rival, BMW’s 520d.“The E-Class chalked up sales of 4,289 units during the first quarter, up 61.6 percent from a year ago. It has boosted the performances of Mercedes-Benz Korea this year,” a KAIDA official said. The German manufacturer has been doubly crowned to have its two E-Class models - the E 220 CDI Avantgarde and E 300 - become the top-selling cars in both

May 19, 2014By Park Jin-hai

Mercedes E-Class cruises to record sales

Companies

Carmakers bet on diesel market

Malibu Diesel, launched by GM Korea in March 2014, is popular in the local market. The midsize diesel powered sedan was sold out in less than two months, making other local carmakers jump into the diesel car business./ Courtesy of GM KoreaBy Park Jin-haiGM Korea and other local carmakers are gearing up to gain a bigger share of the diesel car market, currently dominated by imported vehicles. Diesel engine powered cars have been enjoying a sales growth, backed by the appeal of higher fuel efficiency, which is 20 to 30 percent better than those that run on regular gasoline. Last year, diesel engine car sales exceeded those of regular gasoline powered vehicles for the first time. “Part of the popularity of imported cars could be explained that they run on diesel. Customers nowadays pay more attention to fuel efficiency, since gas price has never been cut down,” said Suh Sung-moon, market analyst at the Korea Investment & Securities.In the four months leading up to April, a total of 42,090 foreign diesel cars were imported, amounting to 68.8 percent of all imported c

May 15, 2014By Park Jin-hai

Companies

SK Planet expands overseas business

A model poses at the “n11.com Studio” in Turkey, a service center run by SK Planet for its online shopping mall, “The n11.com.” The e-commerce affiliate of SK Group launched the online shop in March 2013. / Courtesy of SK PlanetBy Park Jin-haiSK Planet, an e-commerce affiliate of SK Group, starting to see its overseas business pick up speed.SK Planet’s flagship online shopping mall 11 ST went operational in Turkey last year, followed by Indonesia this year. While its business is in its early stages in both countries, it competes shoulder to shoulder there with existing global e-commerce titans like eBay.  Partnered with Turkey’s Dogus Group, it launched “The n11.com” in March 2013, becoming the first Korean services platform making a foray into foreign market.As of December 2013, the online shopping mall has succeeded in securing some 7,000 local sellers and more than 6 million products on offer in just nine months. It posted $123 million in sales there last year. The local sellers in the online shop attribute its success

May 14, 2014By Park Jin-hai

Companies

Volvo trucks launch new range in Korea

Volvo Trucks holds a launching ceremony for three new models — the Volvo FH, Volvo FM and Volvo FMX — at the Jade Garden of the Grande Sheraton Walkerhill in western Seoul, Monday. / YonhapBy Park Jin-haiChristophe Martin, Volvo Group Trucks Asia Oceania Sales chiefVolvo Trucks, the global leader in large-sized premium trucks and tractors, held a launch event for its new vehicle range in Seoul, Monday.The event, in celebration of its 80th year in business in the Asian Pacific region, was to unveil the Volvo FH, Volvo FM and Volvo FMX and their new features."Korea is important for us," said Christophe Martin, president of Volvo Group Trucks Asia Oceania Sales, in an interview with The Korea Times after the event. "We sold over 1,400 vehicles last year alone here in Korea, which is the highest among Asian countries."He added that since it started business in Korea in 1996, sales have expanded and the company has never experienced a loss, weathering the ups and downs of the local economy."Although people say competition is harsh in Korea, it is less or similar to t

May 12, 2014By Park Jin-hai

Shows & Dramas

Exo-M tops Chinese music chart

By Park Jin-haiEXO-M, a six-member subunit of EXO performing in China, topped the Chinese music chart Friday with its new song “Overdose.” On CCTV’s global music section launched in March, the track sung in Chinese was voted as the most popular song in a week-long poll conducted through its website and ARS services.  EXO has been promoting the song since they showcased their 2nd album on April 15 in and out of Korea. The Chinese language album was released on May 7 concurrently with its Korean version released in Seoul.  On Sunday, EXO held a large-scale showcase “EXO-The 2nd Mini Album Comeback Show” at the Mercedes Benz Arena in Shanghai, which drew some 10,000 fans.  

May 11, 2014By Park Jin-hai

Park Jin-hai

Read more

Renault Samsung Motors' facelift trio boost sales

Hyundai Motor to hold hiring session in US in Aug

GS Group chief stresses 'safety-first' management

Boeing Korea announces new president

Hyundai Motor to recall 140,000 SUVs in US

Mercedes E-Class cruises to record sales

Carmakers bet on diesel market

SK Planet expands overseas business

Volvo trucks launch new range in Korea

Exo-M tops Chinese music chart

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