All in!

Hyundai Motor Group Chairman Chung Mong-koo, second from left, poses next to subsidiary Kia’s new sedan, the K9, with VIP guests during a launch event at the Grand Hyatt Seoul, Wednesday. Guests were, from left, KB Financial Group Chairman Euh Yoon-dae; Chung; Korea Chamber of Commerce and Industries Chairman Sohn Kyung-shik; Shinhan Financial Group Chairman Han Dong-woo; Standard Chartered Bank Korea CEO Richard Hill; KDB Financial Group Chairman Kang Man-soo; National Assembly Committee on Knowledge Economy chief Kim Young-hwan; and Woori Financial Group Chairman Lee Pal-seung.

Even Hyundai Motor Group Chairman Chung Mong-koo couldn’t remain on the sidelines, disclosing the carmaker’s strategically significant model, which it is looking to build as an iconic brand.

Kia Motors took the wraps off the much-touted luxury sedan K9 Wednesday with Chung in attendance. It marks the first time in three years for the 74-year-old tycoon to appear at the unveiling of a new vehicle.

“Armed with outstanding design and superior features, the K9 was developed based on cutting-edge technology geared toward the safety and convenience of customers,’’ Chung said at the event held at the Grand Hyatt Seoul.

“With its world-class technology and functionality, I am confident that the K9 will play a pivotal role in raising the brand image of Kia Motors in international markets.’’

There seem to be sufficient reason for the chairman to pay close attention to the K9 _ it is one of just two new models Hyundai Motor Group plans to launch this year. The other is the third-generation Santa Fe sports utility vehicle, revealed last month.

In addition, the group has spent around half a trillion won during the past four years to come up with the real-wheel drive sedan with 300-plus horse power and a fuel efficiency of longer than 10 kilometers per litter.

Employing such design concepts with bold, dynamic luxury, futuristic and simplicity in straight lines, the vehicle with nine airbags boasts of a set of fresh applications and devices for safety and convenience.

It adopts a heads-up display for the first time here, which enables motorists to check various data without having to look down through a transparent display on the windshield.

The combination of vehicle dynamic control (VDC) and advanced smart cruise control (ASCC) warns drivers of collision risks.

Powered by infrared sensors. cognitive of the road markings on highways and motorways, the K9 is also designed to issue warnings to the driver of an unintentional lane departure.

The K9 will be available this month in 3.3-liter engine and 3.8-liter versions with price tags ranging between 52.9 million and 86.4 million won.

Kia Motors hopes to sell a total of 18,000 this year here while seeing the figure rise to 25,000 next year in the global markets.

Dagger to Hyundai’s heart

Kia Motors claims that the new upscale sedan will replace demand for such expensive foreign brands as BMW’s 5 Series or the Mercedes-Benz S and E-Class.

Yet, more worrisome could be the sales of sister company Hyundai Motor, which has dominated the domestic premium vehicle market with its Equus, with its two 3.8-liter and 5-liter engine models, over the past couple of decades.

Experts say Kia Motors’ K9 could be a dagger in the heart of Hyundai Motor if it eats into sales of the Equus.

“Kia Motors is saying that demand for foreign luxury cars could shift to the K9. But chances are that potential purchasers of the Equus are most feared to migrate to the K9,’’ said Kim Pil-soo, a professor at Daelim College.

“The K9 increase sales for Kia Motors at the expense of those of Hyundai Motor as it competes with the Equus for market supremacy in the high-end segment.’’

Yet, Hyundai Motor Group officials did not buy the idea that the K9 would end up denting in the bottom line of the Equus business.

“The Equus is more about an official chauffeured vehicle operated by big firms or organizations while the K9 is more of an owner-driven model. The two are to meet differentiated demand,’’ a Hyundai Motor Group insider said.

“In addition, the K9 will make a splash in global markets after finding success in local sales. The two models are not likely to cancel out each other’s performances.’’ <Korea Times/Kim Tae-gyu>

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