SEOUL, April 24 (Korea Bizwire) – The direct offshore investments of South Korean companies rose to a record level last year, with that made to the United States nearly quadrupling the figures for China due largely to strong demand for business expansion in the world’s most advanced market, a report showed Monday. The foreign direct [...]
SEOUL, April 20 (Korea Bizwire) – Hyundai Motor Co. has lowered the prices of its i30 hatchback models to attract customers amid tougher competition from rivals, the carmaker said Thursday. Hyundai Motor has cut the mainstay hatchback’s sticker price by 250,000 won to 1.25 million won (US$219-$1,097) in the domestic market, South Korea’s biggest carmaker [...]
SEOUL, April 12 (Korea Bizwire) – Hyundai Motor Co. and Kia Motors Corp. increased their market share in Sweden last year as local economic recovery boosted car sales, a state-run trade agency said Wednesday. Hyundai and Kia sold a combined 31,532 vehicles in Sweden in 2016, gaining an 8.47-percent share in the passenger car market. The [...]
SEOUL, April 12 (Korea Bizwire) – South Korean automobile manufacturer Hyundai Motor’s recent decision to recall around 170,000 cars of five different models in its motherland due to manufacturing defects found in its Theta 2 engine was prompted by an insider, recent reports have revealed. A great level of attention is being paid to whistleblower [...]
SEOUL, April 12 (Korea Bizwire) – Hyundai Motor Co. will unveil an all-new concept car under its Genesis luxury brand at the New York Auto Show, the South Korean carmaker said Wednesday. “We are planning to debut a new sport-utility vehicle concept in New York early tomorrow morning,” a company spokesman said. Hyundai will hold [...]
SEOUL, April 6 (Korea Bizwire) – Moody’s Investors Service said Thursday it will maintain the current ratings for Hyundai Motor Co. and Kia Motors Corp. despite sharp declines in auto sales in China. “Although Hyundai’s and Kia’s weak auto unit shipments from China will likely have a short-term negative impact on their profitability and cash [...]
SEOUL, March 29 (Korea Bizwire) – A leading German car magazine has recently judged Hyundai Motor Co.’s i20 hatchback as the best car in its class beating rivals in comfort, performance and interior space. ‘Auto Zeitung,’ one of Germany’s most respected motoring magazines, compared the Hyundai i20 to four of its 1.0-liter turbo-charged competitors — [...]
SEOUL, South Korea, March 22 (Korea Bizwire) – South Korean TV shopping network Lotte Home Shopping recently experienced firsthand the surge in the popularity of electric cars when it aired a special program last Friday featuring electric cars for lease. During the hour-long broadcast, the network saw more than five thousand customers call in to [...]
SEOUL, March 6 (Korea Bizwire) – The Kia Soul continued to remained one of the best-selling cars made by South Korea’s No. 2 automaker in overseas markets last year, despite its dwindling popularity at home, industry data showed Monday. In 2016, 168,159 units of the car were shipped overseas, more than 70 times higher than [...]
SEOUL, March 3 (Korea Bizwire) — Car Makers Launch Aggressive Marketing Push in S. Korean Automobile Market Car makers are stepping up their marketing game as they look to boost their market share in the South Korean auto market in March. Sales and marketing strategies from major car companies including Hyundai, Kia and GM Korea [...]