SEOUL, Sept. 8 (Korea Bizwire) – Hyundai Motor Co. said Friday one of its plants in China resumed operations Friday following a three-day suspension after a German company refused to supply auto parts due to payment problems, the South Korean carmaker said. On Tuesday, Hyundai’s plant in Cangzhou, Hebei District, was brought to a halt [...]
SEOUL, Aug. 29 (Korea Bizwire) – Hyundai Motor Co.’s union said Tuesday its new leadership will resume wage talks with the company in November, as no headway has been made after 28 rounds of “fruitless” negotiations. “We have decided to suspend wage talks with the company as its revised offerings were not satisfactory at all. [...]
SEOUL, Aug. 28 (Korea Bizwire) — Unionized workers at Hyundai Motor Co. will stage a partial strike on Monday after seven rounds of walkouts that already cost the company 620 billion won (US$553 million) in production losses, corporate sources said. The company’s union said its day-shift workers at Hyundai’s main plants in Ulsan, 414 kilometers [...]
SEOUL, Aug. 26 (Korea Bizwire) — As the country awaits the verdict next week in the wages lawsuit filed by Kia Motors’ labor union, which could have immense consequences for the South Korean automobile industry as a whole in the coming years, the debate over the legitimacy of so-called hard-line aristocratic labor unions is back [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korean carmakers on Tuesday cited high costs and low productivity as major sources of concern as they compete in an ever competitive market. In a seminar held in Seoul to discuss outstanding issues facing local carmakers, executives from Hyundai Motor Co. and Kia Motors Corp. expressed worries about [...]
SEOUL, Aug. 17 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, said Thursday that it has suffered an estimated 300 billion won (US$264 million) in lost production due to three rounds of partial strikes at its main plant in the country. Unionized workers at the carmaker staged four-hour strikes last week, demanding higher [...]
SEOUL, Aug. 17 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will launch an all-new fuel-cell electric SUV in South Korea early next year as part of its broader plan to diversify its lineup with more environment friendly vehicles. The country’s biggest carmaker by sales introduced its first fuel-cell electric car based on the [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korean carmakers posted lackluster profitability over the first half of 2017, industry data showed Sunday, falling far behind major overseas rivals. Top carmaker Hyundai Motor Co.’s first-half operating margin was 5.4 percent, down 1.2 percentage points from a year earlier, industry data showed. Its sister company Kia Motors [...]
SEOUL, July 24 (Korea Bizwire) – SK Group has replaced Hyundai Motor as South Korea’s second-largest market cap as of last week, with Samsung Group remaining unchallenged in the No. 1 spot, according to the Korea Exchange on Monday. Samsung Group’s market cap came to 516.57 trillion won (US$461.63 billion) as of Friday’s closing, up [...]
SEOUL, Jul. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, will start operation of its fifth assembly plant in China next month to better meet growing local demand for small vehicles, the company said Wednesday. Beijing Hyundai Motor Co., a 50:50 joint venture set up by Hyundai Motor and Beijing [...]