SEOUL, Jun. 23 (Korea Bizwire) — Leaders of South Korea’s top conglomerates including Hyundai and SK will join President Moon Jae-in on his first official visit to the United States next week, a local business lobby said Thursday. Moon is scheduled to visit Washington on Wednesday ahead of two-day summit talks with U.S. President Donald [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s top carmaker Hyundai Motor Co. said Wednesday it will work with Chinese technology giant Baidu, Inc. to develop a navigation system for its vehicles that will be sold in the world’s biggest auto market. Hyundai and Baidu will jointly develop “Baidu MapAuto” and a voice recognition system [...]
SEOUL, May 31 (Korea Bizwire) – Nearly half of the top 30 conglomerates in the country in 2000 either fell out of the rankings or have been dissolved, with only Samsung Group firmly entrenched in the No. 1 position, an analysis showed Wednesday. Corporate tracker CEO Score compared the top 30 business groups of 2000 and those in 2016 in terms of state-appraised assets. Over the [...]
SEOUL, May 11 (Korea Bizwire) – The vice chairman and heir apparent of Hyundai Motor Co., South Korea’s leading carmaker, on Thursday told the company’s global salespeople that the company will churn out new vehicles and make necessary investments in technologies that will make it more competitive. On the second day of the 2017 Global [...]
SEOUL, April 27 (Korea Bizwire) – Global ratings agency Moody’s Investors Service said Thursday it will maintain the current Baa1 rating for Hyundai Motor Co., South Korea’s top automaker, despite its weak first-quarter earnings. On Wednesday, the carmaker reported a 21-percent on-year drop in first-quarter net profit due to weak sales in China and emerging [...]
SEOUL, April 26 (Korea Bizwire) – The transport ministry said Wednesday it had notified Hyundai Motor Co. of its decision to have the carmaker recall tens of thousands of its Sonata sedans for parking brake light problems. The Ministry of Land, Infrastructure and Transport made the decision after reviewing five cases of suspected faulty parts [...]
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 [...]