SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Motor Co. has announced plans to hire new factory workers for the first time in a decade, and the news has caused a stir among not just unemployed job seekers, but also public servants and those who already have stable jobs at state-run firms and large private companies. [...]
SEOUL, Jan. 26 (Korea Bizwire) — Hyundai Motor Co. said Thursday its fourth-quarter net profit more than doubled from a year earlier on improved chip supplies, strong demand for its high-end SUVs and a weak won. Net profit for the three months ended Dec. 31 jumped to 1.709 trillion won (US$1.38 billion) from 701.37 billion [...]
SEOUL, Jan. 25 (Korea Bizwire) — Sales of luxury imported cars priced over 100 million won (US$81,100) set a new record in South Korea last year. The Korea Automobile Importers & Distributors Association reported that 71,899 luxury vehicles priced over 100 million won were sold last year, an increase of 10.3 percent from the previous [...]
SEOUL, Jan. 25 (Korea Bizwire) — Liquefied petroleum gas (LPG)-powered cars are gradually losing their presence with the growing prevalence of electric and hybrid vehicles, after years of enjoying popularity in the South Korean automobile market thanks to low fuel costs and low emissions. According to statistics from the Ministry of Land, Infrastructure and Transport, [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Group said Tuesday its total global sales of electric vehicles had exceeded 1 million units as of 2022, 11 years after the conglomerate entered the market. Hyundai Motor Co. and Kia Corp. saw their accumulative sales of EVs reach 1.02 million units as [...]
SEOUL, Jan. 18 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said Wednesday their combined sales in Europe rose 4.2 percent in 2022 from a year earlier amid a global chip shortage and the COVID-19 pandemic. Hyundai and Kia sold a combined 1,060,989 vehicles in Europe last year, up from 1,018,636 [...]
SEOUL, Jan. 18 (Korea Bizwire) — SsangYong Motor Co. said Wednesday it shifted to an operating profit in the fourth quarter from a year earlier despite the global chip shortage and the extended COVID-19 pandemic. SsangYong swung to an operating profit of 4.1 billion won (US$3.3 million) in the three months ended in December, shifting [...]
SEOUL, Jan. 18 (Korea Bizwire) — Hyundai Motor Co. on Wednesday launched the all-new Kona subcompact SUV in the domestic market, while planning to introduce its electrified version in the second quarter of this year. Hyundai Motor aims to sell 37,000 units of the new Kona — the first fully revamped model in five years [...]
SEOUL, Jan. 16 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Monday its unionized workers have accepted the plan to build an electrified purpose-built vehicle plant in South Korea. Kia said it will complete the PBV plant in the Autoland Hwaseong plant by the end of 2024 and start producing mid-sized PBVs from [...]
SEOUL, Jan. 12 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung has been named the 2023 MotorTrend Person of the Year for his leadership in transforming the South Korean carmaker into a major mobility solution provider. U.S. automobile magazine MotorTrend selects the 50 most influential people in the automotive industry each year. This [...]