Leaves are scattered on the ground as the autumn weather cools temperatures at Busan Citizens Park in Busan on Oct. 2YONHAP
Happy Friday! Hope you had a great weekend and you're ready for the long weekend in Korea. Here are the stories you need to know!
In today's news, Hyundai CEO José Muñoz says the company isn't interested in following the "premium" path and sees a mass-market strategy as important to success.
In other news, we learn more about the upcoming tech event SmartLife Week, set to take place in Seoul next week. Meanwhile, Korea has thrown its hat in the ring as Mexico looks to replace its F-5 fighter fleet, with the FA-50 going up against the U.S. F-16 in the contract race. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Today's top story
BUSINESS
Hyundai CEO rules out 'premium' path, vows mass-market strategy as China EV price war heats up
Hyundai Motor CEO José Muñoz said the automaker would compete as a mass-market brand rather than a premium one, betting on cost competitiveness as low-priced Chinese rivals close in.
“In the mid to long term, we want to be competitive. We don’t want to be premium. And we are a mass market [brand],” Muñoz said in a press interview on the sidelines of the newest Tucson world premiere in New York on Thursday.
Korea's FA-50 looks to punch above its weight as it challenges U.S.'s F-16 for Mexico contract
The KAI’s light fighter is among four contenders to replace Mexico's aging F-5 fleet, with both cost and U.S. political considerations shaping the race.
