SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will launch a 177.5 billion won (US$163.9 million) fund to support the development of new technologies and business activities for automobiles and hydrogen fuel cells. Hyundai Motor Group, which owns South Korea’s top two car manufacturers, Hyundai Motor Co. and Kia Motors Corp., [...]
SEOUL, Jan. 26 (Korea Bizwire)– South Korea’s top carmaker Hyundai Motor Co. launched its new edition of the i40 family vehicle in its home market on Monday, putting emphasis on a new diesel engine that ups fuel efficiency. Both the sedan and wagon models of the new i40 are updated with a Euro 6-compliant diesel [...]
SEOUL, Jan. 22 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest automaker, said Thursday it will increase its dividend payouts by more than 50 percent this year as part of efforts to enhance shareholder value, a move that comes despite its lackluster earnings results and cloudy business outlook going forward. Under the plan made [...]
SEOUL, Jan. 19 (Korea Bizwire) – Hyundai Motor will accelerate its wage system revision for production line laborers from the current seniority-based system to a performance-based and job-based wage system. According to industry officials on January 18, the trade union and management of Hyundai Motor Company are now running a joint committee to improve the wage system, [...]
SEOUL, Jan. 16 (Korea Bizwire) — A Seoul court ruled Friday that the country’s top automaker Hyundai Motor Co. should partially count regular bonuses paid to its employees as part of their “ordinary wages.” Twenty-three members of Hyundai’s union filed a lawsuit in March 2013, demanding that the management include bonuses, transportation and vacation stipends [...]
SEOUL, Jan. 16 (Korea Bizwire) — When it comes to buying stocks in South Korea’s family-run conglomerates, reading numbers on balance sheets may not be enough to predict their performance. What the owner family does often matters more. As several of such business groups, called chaebols locally, are preparing for managerial transfers to the third [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor’s Santa Fe SUV won the “Family Car of the Year” award for two years consecutively in the U.S. with its family-friendly driving features and improved safety. Cars.com granted the award, saying that the Santa Fe earned high scores for family activities, and strengthened safety and driving systems. [...]
SEOUL, Jan. 13 (Korea Bizwire) — Korean companies are building up a solid lead in the market for electric vehicle batteries. According to a market report on automotive batteries published by SNE Research on January 12, Korean companies held a 41 percent share of automotive battery patents as a percentage of the global total. LG Chem held [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor, South Korea’s top automaker, said Friday its all-new Sonata has been chosen in the U.S. as the car with the best economic performance. The new Sonata, unveiled last spring, won the “2015 Best Economic Performance Award” in the full-size segment by the Automotive Science Group (ASG), a U.S. [...]
SEOUL, Jan. 8 (Korea Bizwire) – The offspring of South Korean business group founders have been fast-tracked up the corporate ladder, many of them becoming executives in their early 30s, data from a business research firm showed Thursday. According to CEO Score, 44 such children, mostly third or fourth-generation family members of company founders, were [...]