SEOUL, Dec. 14 (Korea Bizwire) — South Korea’s auto exports dropped 10.2 percent on-year in November, falling at a faster pace compared with the previous month, amid the global resurgence of new coronavirus cases. Local carmakers shipped a combined 190,657 units of automobiles overseas last month, according to the data compiled by the Ministry of [...]
SEOUL, Dec. 14 (Korea Bizwire) — Unionized workers at Kia Motors Corp. will extend their partial strike this week to demand higher wages and bonuses amid the COVID-19 pandemic, the union said Monday. Daytime and night-duty workers will hold a four-hour strike daily at Kia’s three domestic plants in Gwangmyeong and Hwaseong, both near Seoul, [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea’s Hyundai Motor Group said Friday its affiliates and its chairman will buy an 80-percent stake, worth up to 900 billion won (US$828 million), in U.S. robotics firm Boston Dynamics Inc. in the latest move to propel its future mobility business. The board of directors at Hyundai Motor [...]
SEOUL, Dec. 11 (Korea Bizwire) – Audi Volkswagen Korea Group said Friday it will launch eight additional all-electric models in South Korea by 2023 to bolster sales and meet growing local demand for zero-emission cars. The German carmaker launched its first pure electric e-tron SUV in July to prop up sales in the “extremely important” [...]
SEOUL, Dec. 11 (Korea Bizwire) — GM Korea Co. and its union have reached a second tentative wage deal after union members rejected the first deal early this month, the company said Friday. In a vote held from Nov. 30 to Dec. 1, GM Korea workers turned down the first tentative wage agreement as they [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it will invest 60.1 trillion won (US$55.5 billion) by 2025 for future mobility to gain a bigger share in the rapidly evolving global automobile markets. Hyundai Motor said it will strengthen its electrified vehicle lineup to compete with its rivals, such as [...]
SEOUL, Dec. 10 (Korea Bizwire) — Hyundai Motor Co. might have to adjust its plans for future mobility services after Uber Technologies Inc. decided to sell the company’s self-driving and air taxi businesses. The U.S. ride-hailing giant reportedly decided to turn over Uber Elevate, the company’s air taxi business, to Joby Aviation, and invest US$75 [...]
SEOUL, Dec. 10 (Korea Bizwire) – It’s important to be in the right market at the right time, and Hyundai Motor Group Chairman Chung Euisun knows it’s time to plug into the future: electric vehicles (EV). Going electric isn’t just an eco-friendly goal but is becoming a new business reality sooner than expected, pressuring the [...]
SEOUL, Dec. 8 (Korea Bizwire) — Hyundai Motor Co. on Tuesday unveiled the GV70, the second SUV model under its independent Genesis brand, in a world premiere as it strives to gain a share in the high-end vehicle market. The midsized GV70 will be launched with a 2.5-liter turbocharged gasoline engine, a 3.5-liter turbocharged gasoline [...]
SEOUL, Dec. 3 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 7.5 percent in November from a year earlier due to strong demand for German cars, an industry association said Thursday. The number of newly registered foreign vehicles climbed to 27,436 units last month from 25,514 a year earlier despite the COVID-19 [...]