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 [...]
SEOUL, Feb. 1 (Korea Bizwire) – Hyundai Motor Group’s new headquarters building to be constructed in southern Seoul by 2021 will be the country’s tallest, a district office said Wednesday. Its draft document for environmental impact assessment submitted to the Gangnam Ward Office showed that the main building of the planned Global Business Center (GBC) [...]
SEOUL, Jan. 17 (Korea Bizwire) – South Korea’s largest automaker Hyundai Motor Group may consider building additional production facilities in the United States, but only when or if a future rise in demand there requires it to do so, group officials said Tuesday. The remarks came after foreign news outlets, citing Hyundai Motor Group President [...]
SEOUL, Jan. 2 (Korea Bizwire) – Hyundai Motor Group has set its sales target at 8.25 million cars this year, the group chairman said Monday. The annual target marks a 1.5 percent increase from the 2016 target of 8.13 million. South Korea’s largest automotive group has yet to release its actual sales for 2016, but [...]
SEOUL, Dec. 23 (Korea Bizwire) – Executives from Hyundai Motor Group have expressed concerns for 2017, mainly from the stagnant global automotive industry and a strong comeback from Japanese automakers buoyed by the low Japanese yen. During a seminar on Thursday outlining the global automotive industry prospects for 2017 hosted at company headquarters in southern [...]
SEOUL, Oct. 31 (Korea Bizwire) – Hyundai Motor Group is quickly expanding its Chinese operations, and along with it, its corporate social responsibilities. According to Beijing Hyundai Motor, a joint-venture between Beijing Automotive Group and Hyundai Motor Company, the Korean auto-group was given the highest CSR development index score this year among all automakers in [...]
SEOUL, Oct. 27 (Korea Bizwire) – Hyundai Motor Group affiliate Kia Motors is making rapid inroads in global automotive markets, introducing localized models, and broadening its eco-friendly product lines. The company announced on Thursday a 20.8 percent on-year increase in net profit for Q3. According to Vice President Han Cheon-su, by 2018 Kia will launch [...]
SEOUL, May 20 (Korea Bizwire) – Hyundai Motor Group was warned by Korea’s Fair Trade Commission (FTC) on Thursday for missing the deadline for selling off its cross shareholdings. Hyundai and Kia acquired 8.81 million new shares after merging two of their subsidiary companies, Hyundai Steel and Hyundai Hysco, in July 2015. The additional shares [...]