SEOUL, Dec. 13 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will dramatically beef up its pure-electric car lineup in the next eight years in line with global carmakers’ latest push to go electric. Hyundai Motor Co. and its affiliate Kia Motors Corp. are planning to increase the number of all-electric vehicles to 14 [...]
SEOUL, Dec. 12 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker, said Tuesday that it will set up a joint venture with an Indonesian company to help assemble commercial vehicles in one of the world’s most populous countries in the latest move to expand into Asian markets. The joint company, to be set [...]
SEOUL, Dec. 7 (Korea Bizwire) – Unionized workers at Hyundai Motor Co. will continue to walk out next week for higher wages and bonuses after the company rejected the union’s demands, the union said Thursday. “In the past eight months of negotiations, the company has not shown any ‘progressive’ approach in the wage deal, repeating it faces difficult times and does not have room to fully accept [...]
SEOUL, Dec. 6 (Korea Bizwire) – Hyundai Motor is poised to branch out into the car sharing service industry in partnership with carpool service provider Luxi. The automaker signaled its foray into the carpool service market on Tuesday, after making a public announcement of Project Ioniq, a joint future mobility research project with Luxi to develop [...]
ULSAN, South Korea, Nov. 30 (Korea Bizwire) – Unionized workers at Hyundai Motor Co. decided Thursday to stage a partial strike next week as talks over a wage deal with the company hit a snag. Union members of South Korea’s largest automaker said they plan to hold a two- to three-hour strike at major production lines for four consecutive days from Dec. 5 as they and [...]
SEOUL, Nov. 29 (Korea Bizwire) – This year’s wage talks remain a major concern for South Korea’s top carmaker Hyundai Motor Co., which has already been hit by steep sales declines in major markets in 2017, the company said Wednesday. Hyundai Motor and its union have yet to narrow the gap over wages and other terms. They are expected to resume talks on Thursday after failing to reach an [...]
SEOUL, Nov. 27 (Korea Bizwire) — Listed units of South Korea’s top 10 conglomerates saw their operating incomes almost double to a record high in the first three quarters of the year, with chip giants Samsung Electronics Co. and SK hynix Inc. taking up more than half of the total, a market tracker said Monday. [...]
SEOUL, Nov. 17 (Korea Bizwire) – Hyundai Motor Co. has introduced the ‘Encino’ subcompact sport-utility vehicle in a Chinese motor show, in a move to revive sales in the world’s biggest automobile market, the company said Friday. In the 15th China Guangzhou International Automobile Exhibition, the country’s largest carmaker by sales has unveiled the Encino [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]
SEOUL, Nov. 2 (Korea Bizwire) – The head of the Fair Trade Commission, Kim Sang-jo, announced plans to investigate the management of private foundations owned by major companies, as part of efforts to reform conglomerates and improve transparency, during a policy meeting today. The FTC made the announcement at today’s policy gathering in Seoul with [...]