SEOUL, Nov. 21 (Korea Bizwire) — The European Union has concluded the passenger service-related remedial commitments offered by South Korean flagship carriers Korean Air Co. and Asiana Airlines Inc. for their proposed merger have been fulfilled, according to the EU’s executive body Thursday. Korean Air has divested four European passenger flight routes to low-cost carrier [...]
SEOUL, Nov. 21 (Korea Bizwire) — Unionized railway workers on Thursday said they will launch an indefinite general strike on Dec. 5 to demand higher pay and a bigger workforce. The walkout plan by the Korean Railway Workers’ Union (KRWU), if implemented, is expected to affect the operations of high-speed KTX and regular train services [...]
SEOUL, Nov. 20 (Korea Bizwire) – Hyundai and Kia vehicles have been recognized for maintaining excellent value as used cars in the United States, earning high marks for residual value. The automakers announced on November 20 that the Hyundai Kona Electric and Kia Telluride were named winners in J.D. Power’s 2025 U.S. ALG Residual Value Awards. [...]
SEOUL, Nov. 20 (Korea Bizwire) – In a groundbreaking shift that signals South Korea’s gradual departure from its traditional corporate culture, Hyundai Motor Company has named José Muñoz as its first non-Korean chief executive officer in its 57-year history, marking a significant milestone for one of the country’s most prestigious companies. The appointment of Muñoz, who [...]
ULSAN, Nov. 20 (Korea Bizwire) — Police and forensic agency authorities plan to conduct a joint investigation Wednesday into the cause of an accident that left three people dead at a Hyundai Motor Co. plant in the southeastern city of Ulsan. On Tuesday, three researchers — two Hyundai employees and one affiliated with a subcontractor [...]
SEOUL, Nov. 20 (Korea Bizwire) — Back-to-back protests by railway and subway workers disrupted subway services in the capital area on Wednesday, with commuters complaining of delays during the morning rush hour. The Korean Railway Workers’ Union’s work-to-rule protest continued for the third day, causing eight trains on subway lines 1, 3 and 4 and [...]
SEOUL, Nov. 19 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, on Tuesday outlined its value-up program focusing on profitability and technological prowess amid a slowdown in electric vehicle (EV) sales. Hyundai Mobis aims to report an annual average of 5-6 percent in its operating profit margin in the three years through [...]
SEOUL, Nov. 19 (Korea Bizwire) – The fortunes of South Korea’s three mid-sized automakers—GM Korea, KG Mobility, and Renault Korea—continue to hinge on the success of individual vehicle launches, with the pattern showing no signs of abating in 2024. The trend began with KG Mobility (formerly SsangYong Motor) riding high on its Torres SUV in 2022, [...]
SEOUL, Nov. 19 (Korea Bizwire) — Unionized Seoul subway workers said Tuesday they will go on a full-scale strike on Dec. 6 in demand of increases in wages and new staff hiring. The walkout plan was announced in a news conference by the biggest of the three labor unions of Seoul Metro, the operator of [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s hybrid vehicle registrations are poised to hit an all-time high this year, reflecting both growing environmental consciousness and a temporary plateau in electric vehicle demand. According to data from the Carisyou data research institute, hybrid vehicle registrations from January to October reached 311,769 units, a 24.8% increase from [...]