SEOUL, Oct. 28 (Korea Bizwire) — South Korea’s largest entertainment and auto companies plan to introduce an unprecedented virtual showcase combining an online concert and a new car launching event next month, according to an announcement Wednesday. SM Entertainment and Hyundai Motor Co. said they will jointly unveil a new concept virtual showcase, titled “Beyond [...]
SEOUL, Oct. 28 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to report a combined operating profit of about 3 trillion won (US$2.7 billion) in the fourth quarter on new models and improved product mix, after delivering poor business results in the past quarter, analysts said Wednesday. Hyundai and [...]
SEOUL, Oct. 26 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. on Monday posted lackluster third-quarter earnings results due to hefty provisions for recalls and quality management. For the three months that ended in September, Hyundai swung to a net loss of 188.8 billion won (US$167 million) from a net profit [...]
SEOUL, Oct. 26 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea jumped 26 percent last month from a year earlier on robust sales of Scania and Iveco trucks, an industry association said Monday. The number of newly registered imported commercial vehicles rose to 383 units in September from 304 a year ago, [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea saw its sales of luxury imported cars rise sharply over the first nine months of the year despite the new coronavirus pandemic straining the economy, data showed Sunday. The combined sales of imported automobiles with a price tag of more than 100 million won (US$88,600) surpassed 30,000 [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Motor Co.’s Prophecy all-electric concept car won the Red Dot Design Award in its latest achievement of its decadelong efforts to improve its brand image in terms of quality and design. The Prophecy with an extended wheelbase and short overhang has been named as the Best of the [...]
SEOUL, Oct. 21 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will overhaul its product quality control process following engine recalls and fires in an electric model. Hyundai Motor Co. and its affiliate Kia Motors Corp. plan to simplify the overall quality control process to better focus on resolving problems, a Hyundai official said [...]
SEOUL, Oct. 20 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, on Tuesday launched the upgraded G70 sedan under its independent Genesis brand in the domestic market to boost sales amid the COVID-19 pandemic. The facelifted G70 comes with a 2.0-liter gasoline turbocharged engine, a 2.2 diesel engine or a 3.3 gasoline turbocharged [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday they plan to reflect a combined 3.4 trillion won (US$3 billion) in provisions for product recall and quality control in their balance sheets for the third quarter of the year, indicating that they are set to swing to [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co.’s planned global recall of 77,000 Kona Electric vehicles may be a drag on the company’s electrification plan, analysts said Monday. Hyundai Motor plans to voluntarily recall 77,000 Kona Electric models for a faulty battery cell component, as 14 cases of fires in the model — 10 [...]