SEOUL, Mar. 14 (Korea Bizwire) — A panel of South Korea’s state pension fund on Thursday sided with Hyundai Motor Co. and its auto parts affiliate Hyundai Mobis Co.’s proposals on dividends and appointments for board members, dealing a blow to hedge fund Elliott Management. The decision is likely to help Hyundai Motor and its [...]
SEOUL, Mar. 13 (Korea Bizwire) — The main advisor of South Korea’s national pension service sided with Hyundai Motor Co. and Hyundai Mobis Co. on Wednesday in the ongoing disputes with Elliott Management over dividend payments and appointments to the board of directors. The Korea Corporate Governance Service (KCGS) recommended that shareholders of the two [...]
SEOUL, Mar. 11 (Korea Bizwire) — Hyundai Motor Co. announced on Sunday that it will run a ‘Driving Plus’ program, a social contribution activity to help people overcome their fear of driving., along with the Citizens’ Coalition for Safety. According to Hyundai, the ‘Driving Plus’ program offers educational content that allows people to experience various [...]
SEOUL, Mar. 8 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, will halt operations at one of its five plants in China due to its low utilization rate, an industry source said Friday. Hyundai Motor plans to stop production at its No. 1 plant in Beijing within a couple of months [...]
SEOUL, Mar. 4 (Korea Bizwire) — Hyundai Motor Group has developed a digital key available on smartphones, with a plan to gradually apply the “smartphone key” to upcoming models, the company said Monday. The technology is aimed at enhancing consumer convenience in the era of car-sharing economy, Hyundai Motor Group said in a statement. The [...]
SEOUL, Feb. 27 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, on Wednesday outlined a massive five-year investment plan centered on research and future vehicle technologies and underlined the need to maintain sufficient liquidity to guarantee growth. The announcement comes a day after U.S. activist investor Elliott Management demanded Hyundai Motor [...]
SEOUL, Feb. 27 (Korea Bizwire) – U.S. activist fund Elliott Management has begun to put pressure on Hyundai Motor Co. by recommending an outside director and demanding a higher yield. A shareholder in both Hyundai Motor and Hyundai Mobis Co., Elliott Management exercised the right of shareholder’s proposal to recommend a new outside director. However, the two [...]
SEOUL, Feb. 24 (Korea Bizwire) — Hyundai Motor Co. is expanding its partnership with BTS by providing sponsorship to the South Korean boy band’s global campaign in Britain, the company said Sunday. On Friday, BTS began to air a teaser of the K-pop band’s global campaign in London’s Piccadilly Circus aimed at informing its fans [...]
SEOUL, Feb. 24 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. sold or received orders for more than 10,000 electric vehicles (EV) coming into this year, corporate sources said Sunday. South Korea’s two largest automakers, and flagships of Hyundai Motor Group, account for 79 percent of all EVs sold in the [...]
SEOUL, Feb. 18 (Korea Bizwire) — Sales of diesel cars made by Hyundai Motor Co. and its corporate cousin, Kia Motors Corp., have steadily fallen for the past three years due to stricter emission regulations, industry data showed Monday. Diesel-powered sales accounted for 33.8 percent of 1,013,259 sedans and recreational vehicles sold by Hyundai and [...]