SEOUL, Nov. 8 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. continue to dominate the local market despite a recent drop in their sales here as they together hold nine of the 10 best-selling cars, data showed Tuesday. The two carmakers form Hyundai Motor Group, the [...]
SEOUL, Oct. 5 (Korea Bizwire) – GM Korea Co., the local unit of U.S. carmaker General Motors Co., has started full-fledged exports of its all-new Malibu midsize sedans built in South Korea to the Middle East in a bid to expand its overseas markets, industry sources said Wednesday. GM Korea shipped about 900 Malibu units [...]
SEOUL, Aug. 29 (Korea Bizwire) – Local carmakers’ business outlook for the year is increasingly dim as they are struggling with a protracted labor dispute and a fall in demand in emerging markets, industry sources said Sunday. According to the sources, workers at South Korea’s leading carmaker Hyundai Motor Co. have voted down a tentative [...]
SEOUL, June 23 (Korea Bizwire) – Korean prosecutors who were investigating allegations of GM Korea employees receiving kickbacks in return for business favors are now widening the scope of their investigation to also cover bribes related to employment guarantees. Many have testified that an applicant is guaranteed a permanent position regardless of qualifications if executives of [...]
SEOUL, June 6 (Korea Bizwire) – Compact sports utility vehicles (SUVs) have gained popularity among younger customers in South Korea as local automakers have released a series of fashionable, fuel-efficient models to grab a bigger chunk of the quickly growing market, industry data showed Sunday. A total of 10,216 compact SUVs made by Korean automakers [...]
SEOUL, Feb. 12 (Korea Bizwire) – GM Korea Co. is gearing up to launch diverse new Chevrolet and Cadillac models in South Korea this year as it seeks to carve out a bigger slice of the local passenger vehicle market, industry sources said Friday. The plan is in line with the company’s ramped-up efforts to [...]
SEJONG, Dec. 16 (Korea Bizwire) - GM Korea and Toyota will recall 1958 cars sold in South Korea for safety-related mechanical defects, the Ministry of Land, Infrastructure and Transport said Wednesday. GM Korea, the South Korean unit of U.S. automaker General Motors Co., said ignition coils on its Veritas full-size sedans have problems that could [...]
SEOUL, Nov. 26 (Korea Bizwire) – The nation’s top court ruled Thursday that GM Korea Co. should count performance-based monthly wages paid to its employees as part of their ordinary salaries. A total of 1,025 of its workers filed a lawsuit demanding the management include performance-based pay and vacation stipends as part of ordinary pay [...]
SEOUL, Sept. 8 (Korea Bizwire) – City car sales in South Korea hit the highest level in eight months in August, driven by a spike in demand for the latest edition of the Spark launched by GM Korea, industry data showed Tuesday. Sales of city cars with an engine displacement of smaller than 1,000 cc [...]
SEOUL, Aug. 31 (Korea Bizwire) – “Labor costs in Korea are rising rapidly. For example, Indian assembly plants can produce cars at half the cost of those in Korea. The so-called ‘ordinary wage’ issue will affect all Korean industries – not just the automobile industry.” Last May, Sergio Rocha, president and CEO of GM Korea, [...]