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Hyundai to Cease Sponsorship of Chinese Golf Event

Hyundai to Cease Sponsorship of Chinese Golf Event

SEOUL, Sept. 12 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. will not sponsor a Chinese golf event this year, officials in Seoul said Tuesday, amid an escalating diplomatic row over the deployment of an advanced U.S. missile defense system in South Korea. An official with Hyundai said that the automaker’s Chinese unit Beijing [...]

Meet the Hard-Line Auto Labor Unions So Out of Touch the South Korean Public Call Them ‘Aristocrats’

Meet the Hard-Line Auto Labor Unions So Out of Touch the South Korean Public Call Them ‘Aristocrats’

SEOUL, Aug. 26 (Korea Bizwire) — As the country awaits the verdict next week in the wages lawsuit filed by Kia Motors’ labor union, which could have immense consequences for the South Korean automobile industry as a whole in the coming years, the debate over the legitimacy of so-called hard-line aristocratic labor unions is back [...]

Hyundai to Launch New Fuel-cell Electric SUV Next Year

Hyundai to Launch New Fuel-cell Electric SUV Next Year

SEOUL, Aug. 17 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will launch an all-new fuel-cell electric SUV in South Korea early next year as part of its broader plan to diversify its lineup with more environment friendly vehicles. The country’s biggest carmaker by sales introduced its first fuel-cell electric car based on the [...]

S. Korean Carmakers’ Profitability Falling Behind Foreign Rivals

S. Korean Carmakers’ Profitability Falling Behind Foreign Rivals

SEOUL, Aug. 13 (Korea Bizwire) — South Korean carmakers posted lackluster profitability over the first half of 2017, industry data showed Sunday, falling far behind major overseas rivals. Top carmaker Hyundai Motor Co.’s first-half operating margin was 5.4 percent, down 1.2 percentage points from a year earlier, industry data showed. Its sister company Kia Motors [...]