SEOUL, Jan. 30 (Korea Bizwire) — Hyundai Motor Group’s three key affiliates posted stellar performance last year with their operating profit jumping 44 percent on a weak won and robust sales of sport-utility vehicle models. For the whole of 2019, Hyundai Motor Co., Kia Motors Corp. and auto parts maker Hyundai Mobis Co. posted a [...]
SEOUL, Sept. 4 (Korea Bizwire) — Hyundai Motor Group, South Korea’s top automotive group, said Wednesday it has developed a wearable robot to assist industrial workers. The group, which has Hyundai Motor Co. and Kia Motors Corp. under its wing, introduced Vest EXoskeleton (VEX), a wearable robot designed to help those who spend long hours [...]
SEOUL, Mar. 10 (Korea Bizwire) — Hyundai Motor Group is moving toward joint development of its new headquarters as a way to save money that can be used in future-oriented research and development (R&D) efforts, industry sources said Sunday. Observers said the world’s fifth-largest automotive conglomerate by sales is exploring the creation of a special [...]
SEOUL, May 16 (Korea Bizwire) — A man who stopped an unconscious driver’s moving car on a major highway with his own has received media attention and praise from many people for preventing a bigger tragedy that could have taken many lives on the road last week. Hyundai Motor Group first offered to repair the [...]
SEOUL, April 27 (Korea Bizwire) – Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., on Friday reiterated its demand for a holding company structure for Hyundai Motor Group. In a statement, the U.S. fund called on the Korean automotive group to merge Hyundai Motor Co. and Hyundai Mobis Co. into [...]
SEOUL, Apr. 27 (Korea Bizwire) — Kim Sang-jo, the director of the Fair Trade Commission, in response to American activist fund Elliott Management Corp.’s call to restructure Hyundai Motor Group, stated that “following such demands would be going against antitrust laws.” Kim also said that Elliott’s demands were “unfair” during the Asia Future Enterprise Forum [...]
SEOUL, Dec. 29 (Korea Bizwire) — Hyundai Glovis Co., the auto freight unit of South Korea’s Hyundai Motor Group, said Friday that it has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. Under the two separate deals, Hyundai Glovis said [...]
SEOUL, Nov. 1 (Korea Bizwire) – Chinese automaker Hawtai Motor Group will introduce gasoline and electric cars to the domestic market in January. The company set up its South Korean base of operations by establishing Hawtai Korea in July, and it plans to open 11 dealerships in eight cities nationwide in the first month of [...]
SEOUL, April 28 (Korea Bizwire) – Hyundai Motor Group, South Korea’s top automotive conglomerate, is betting that rising demand in emerging markets will offset sales declines in China amid a row over the deployment of an anti-missile system, corporate sources said Friday. Hyundai Motor Co. and its affiliate Kia Motors Corp. plan to launch new [...]
SEOUL, March 27 (Korea Bizwire) – The estimated value of land owned by South Korea’s 10 biggest business groups rose to a record high last year due in part to the purchase of the headquarters of the Korea Power Electric Corp. (KEPCO) by Hyundai Motors Co. and its affiliates, a market researcher said Monday. Hyundai [...]