SEOUL, April 26 (Korea Bizwire) — Office workers at Hyundai Motor Group began the process to set up a union to seek higher wages and better working conditions, the company said Monday. Nonmanufacturing employees at South Korea’s leading carmaker have submitted documents to the Ministry of Employment and Labor to build their own union, separately [...]
SEOUL, April 26 (Korea Bizwire) – Sales of imported commercial vehicles in South Korea rose 18 percent in March from a year earlier on recovering demand amid the extended coronavirus pandemic, an industry association said Monday. The number of newly registered imported commercial vehicles climbed to 413 units last month from 349 a year earlier, [...]
SEOUL, April 25 (Korea Bizwire) – SsangYong Motor Co. is seeking to cut some 10 executive jobs as part of its restructuring efforts after being put under court receivership, an industry source said Sunday. SsangYong Motor has been in the debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. has failed [...]
SEOUL, April 22 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Thursday its first-quarter net profit nearly tripled from a year earlier on a low base effect and strong sales of sports utility vehicles (SUVs), but the company is worried about the impact of global chip shortages on production. Net profit in the [...]
SEOUL, April 22 (Korea Bizwire) — Hyundai Motor Co. said Thursday its first-quarter net profit nearly tripled compared to a year earlier on a base effect and an improved product mix. Net profit for the three months that ended in March soared to 1.52 trillion won (US$1.36 billion) from 552.68 billion won a year ago, [...]
SEOUL, April 21 (Korea Bizwire) — Hyundai Motor Co. has stopped the production of the Kona Electric for the domestic market in a move to phase out the model undergoing recalls over battery fires and shift its focus to Ioniq 5 EVs, company officials said Wednesday. The Kona EV is Hyundai’s bestselling EV model launched [...]
SEOUL, April 21 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. said Wednesday it has collaborated with K-pop icon BTS to suggest people take eco-friendly actions in their daily lives to protect the environment in a campaign film celebrating Earth Day. In the one-minute YouTube video themed “For Tomorrow We Won’t Wait,” BTS raises [...]
SEOUL, April 20 (Korea Bizwire) — After years of being mired in losses, South Korean auto giant Hyundai Motor Group is mapping out its new China strategy to regain its past glory in the world’s largest auto market with a raft of electric vehicles and luxury models. While the country’s largest automaking group has basked [...]
SEOUL, April 19 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group on Monday introduced its electric vehicles (EVs) across Hyundai Motor, Kia and Genesis brands at the Shanghai Motor Show to target the fast-growing EV market. The world’s No. 5 automotive group by sales showcased three electric models at the Shanghai International Automobile [...]
SEOUL, April 19 (Korea Bizwire) — Sales of pickup trucks in South Korea tumbled more than 34 percent in the first quarter of the year amid sluggish demand, industry data showed Monday. A total of 5,539 pickup trucks were sold in Asia’s fourth-largest economy in the January-March period, down 34.4 percent from a year earlier. [...]