SEJONG, Sept. 13 (Korea Bizwire) – South Korea’s car exports shrank to a seven-year low in August due mainly to contracted global demand and partial strikes at local carmakers, the government said Tuesday. Outbound shipments of vehicles came to 142,987 units last month, down 18.6 percent from 175,610 units tallied a year earlier, according to [...]
SEOUL, Sept. 12 (Korea Bizwire) – Local industry leader Hyundai Motor Co. and two other carmakers will recall over 30,000 cars sold here for problems with various vehicle parts, the transportation ministry said Monday. According to the Ministry of Land, Infrastructure and Transport, Hyundai Motor will recall 10,912 units of the Grandeur passenger cars for [...]
SEOUL, Sept. 6 (Korea Bizwire) – Company officials and union leaders at Renault Samsung Motors Co. have reached a tentative agreement on the wage increase for workers at the French automaker, the company said Tuesday. The agreement came after five official rounds of negotiations and nine working group meetings since July 11, and marks the [...]
SEOUL, Sept. 5 (Korea Bizwire) – The chief of South Korea’s top automaker Hyundai Motor Group on Monday called for stepped-up efforts to develop new luxury and environmentally friendly cars to meet future demands, saying the future is already here. Group Chairman Chung Mong-koo also stressed the importance of the U.S. market as he headed [...]
SEOUL, Aug. 29 (Korea Bizwire) – Local carmakers’ business outlook for the year is increasingly dim as they are struggling with a protracted labor dispute and a fall in demand in emerging markets, industry sources said Sunday. According to the sources, workers at South Korea’s leading carmaker Hyundai Motor Co. have voted down a tentative [...]
SEOUL, Aug. 26 (Korea Bizwire) – Hyundai Motor Group’s YouTube video of a Kia Soul EV parking itself went viral among car enthusiasts, accumulating over 200,000 views in less than a day. The video, which was filmed at Hyundai’s research institute in Gyeonggi Province (Uiwang), shows a driver stepping out of a vehicle and using [...]
SEOUL, Aug. 18 (Korea Bizwire) – Three vehicle models produced by South Korea’s top automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. took the top three spots in terms of best-selling cars in Israel in the first half of the year, also making their manufacturers the two most preferred brands in the Middle [...]
SEOUL, Aug. 17 (Korea Bizwire) – Department store restaurants have long been a lucrative business. Accommodating hundreds of weary shoppers every day, they have sometimes been referred to as a ‘goose that lays a golden egg’. However, opening such a restaurant had been a near-impossible task without deep connections to the store’s higher-ups, until recently. [...]
BUSAN, Aug. 5 (Korea Bizwire) – “What’s wrong with the car?” says a man’s voice on a vehicle’s black box camera recording. Seconds later, the situation quickly deteriorates. An intersection appears, and the light is clearly red. But the car is not slowing down, and instead is actually accelerating. “The baby, the baby, the baby,” [...]
SEOUL, July 29 (Korea Bizwire) – Hyundai Group subsidiary Hyundai Asan, which once served as a model of North and South Korean economic cooperation, is making a move into the carbonated water business. Hyundai Asan was established in 1999 specifically for economic projects with North Korea, starting with the Mount Kumgang Tourist Region. But with the [...]