SEOUL, Aug. 10 (Korea Bizwire) — Hyundai Motor Company and its labor union remain locked in a stalemate with the domestic automotive industry in the midst of one of its most critical moments in recent history. In what has become something of a yearly tradition, one of the chief sticking points in the talks is the [...]
SEOUL, April 26 (Korea Bizwire) – South Korea is not likely to regain its status as the world’s fifth-largest automaker, as India has been increasing the production of vehicles at a rapid pace, an industry report said Wednesday. South Korea was the fifth-largest producer for 11 years from 2005 until 2015 before slipping to the [...]
SEOUL, June 27 (Korea Bizwire) – Imports of American cars in South Korea more than tripled in four years, industry data showed Monday, a rise that could be attributable to the free trade deal between Seoul and Washington. The free trade deal went into effect in 2012, providing a competitive edge to U.S. carmakers. South [...]
SEOUL, June 17 (Korea Bizwire) – In an effort to stimulate Korea’s moribund domestic consumption, the government lowered its special consumption tax on vehicles from 5 percent to 3.5 percent, starting from August 2015. This tax benefit — which will expire at the end of June — however, has brought about “undue profit” to foreign car makers while [...]
SEOUL, Nov. 1 (Korea Bizwire) — Kia Motors Corp., South Korea’s No. 2 automaker, said Sunday that it is moving to more than double its dealership network in Mexico to increase its market presence. The move to add 27 new dealerships to the existing 21 is likely based on the carmaker’s strong sales in its [...]
“The South Korean court’s ruling on ordinary salaries for employees of Hyundai Motor Co. is credit positive for the automaker.” “According to the ruling, the majority of Hyundai Motor’s workers will not be entitled to the bonus payment or receive regular bonuses as part of ordinary salaries. Given this situation, any future increase in wages [...]
![[Kobiz Feature] Nationalism: Parallels in Olympic Games and Automotive Industry](http://koreabizwire.com/wp/wp-content/uploads/2014/02/23890059_m-800x533.jpg "[Kobiz Feature] Nationalism: Parallels in Olympic Games and Automotive Industry")
SEOUL, Korea, Feb 25 (Korea Bizwire) – As most sport games are contested between national teams, they naturally become a matter of national pride. Among them, the Olympic Games are the premier stage of nationalist competition where every country can show their power like a battlefield without firing guns. Likewise, it’s the same in the [...]