SEOUL, March 13 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo said Friday that the nation’s largest automaker will push to enhance product competitiveness by expanding investment this year amid fierce competition from foreign brands and growing uncertainty at home and abroad. In his greeting to investors ahead of a general meeting of shareholders, Chung said [...]
SEOUL, March 11 (Korea Bizwire) – Hyundai Motor has decided to lower financing rates by one percentage point for all of its models to boost its Korean sales. Last year, Hyundai Motor Group’s market share, including Kia Motors, fell below the 70 percent mark for the first time since 1998 due to strong competition from foreign [...]
SEOUL, March 8 (Korea Bizwire) — The amount of dividends to be paid to the heads of South Korea’s top 10 business groups will reach an all-time high for the 2014 fiscal year, market data showed Sunday. According to the data provided by financial investment firms and Chaebul.com, a website that tracks the country’s conglomerates, [...]
SEOUL, Feb. 12 (Korea Bizwire) – Hyundai Motor Group and Korea Exchange Bank have joined together to form a new model to develop social enterprises. On February 11, the world’s fifth largest automobile maker and the exchange bank signed a business agreement to jointly invest in social enterprise EasyMove, a manufacturer and marketer of physical aids [...]
SEOUL, Feb. 5 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo and his son will seek to sell a part of their stakes in a logistics unit following a failed attempt last month, the automotive group said Thursday.In January, Chung and his only son, Eui-sun, vice chairman of Hyundai Motor Co., sought to sell [...]
SEOUL, Feb. 4 (Korea Bizwire) — Hyundai Motor Group, the world’s No. 5 auto conglomerate, said Wednesday its January sales in the United States reached an all-time high, giving hope that its affiliate duos may continue to do well following favorable results for the U.S. market last year. Hyundai Motor America and Kia Motors America, [...]
SEOUL, Feb. 3 (Korea Bizwire) – To revitalize a struggling commercial area near the former KEPCO headquarters site in Seoul, Hyundai Motor Group plans to transfer employees from some of its subsidiaries, who currently work at different locations, to the KEPCO building. The world’s fifth largest automobile manufacturer plans to move 1,000 workers in the metropolitan area [...]
SEOUL, Dec. 19 (Korea Bizwire) — Hyundai Motor Group announced on December 17 that its Elite i20 is the winner of the 2015 Indian Car of the Year (ICOTY) award. The i20 was said to have competed with Honda’s City and Maruti Suzuki’s Ciaz for the top prize. The Elite i20 was designed to cater to [...]
“In a difficult situation like now, we can trust no one but ourselves.Let’s not rest on our laurels or not shrink from the unfavorable market conditions. Let’s just soldier on to achieve bigger goals.” “Eight million units of sales performance is just a beginning. We should believe in ourselves and work harder to attain [...]
SEOUL, Nov. 25 (Korea Bizwire) – Hyundai Motor and Kia Motors are expected to sell a record 8 million vehicles this year, an increase of 440,000 compared to 2013. The Hyundai Motor Group held an export expansion strategy meeting, which included the heads of major subsidiaries, on November 24. At the meeting, the group forecast that it would [...]