BUSAN, June 2 (Korea Bizwire) – The 2016 Busan International Motor Show took off Thursday at the BEXCO exhibition hall in Busan. The show, which will run until June 11, has 91 domestic and 141 international models on display. A total of 46 of the models will be revealed for the first time to the domestic [...]
SEOUL, May 31 (Korea Bizwire) – Kia Motors Corp., South Korea’s second-largest automaker, posted record sales in Latin America this year, whose growth surpassed that of the Middle East and Eastern Europe, which are grappling with the economic slowdown, its report showed Tuesday. A total of 57,495 Kia cars were sold in Central and South [...]
SEOUL, May 30 (Korea Bizwire) – The accumulated debt for Korea’s top 9 shipbuilding companies – companies with more than 1 trillion won in revenue – has exceeded 100 trillion won. According to chaebul.com Sunday, the top 9 companies’ debt exceeded 102.6 trillion won in 2015. The figure tallies up all debt from the 9 [...]
SEOUL, May 25 (Korea Bizwire) – In one of Hyundai’s more ambitious efforts to develop its high-performance N models, the company has announced plans to compete in the 2016 Nürburgring 24. The Nürburgring 24, which will celebrate its 44th anniversary this year, is a race in which vehicles compete on the 25km circuit for 24 [...]
SEOUL, May 25 (Korea Bizwire) – Hyundai plans to develop a new EV that can travel over 400km on a single charge. According to an industry official, Hyundai is currently developing EVs that can travel over 320km (by 2018) and 400km (by 2020) on a single charge. The current Hyundai Ioniq is expected to be [...]
SEOUL, May 25 (Korea Bizwire) – South Korea’s top 30 business groups reduced the number of their executives by about 500 over the past year due mainly to downsizing and business restructuring moves, data showed Wednesday. The total number of senior executives at the 30 largest conglomerates was 9,632 as of May 16, down 484, [...]
SEOUL, May 20 (Korea Bizwire) – Hyundai Motor Group was warned by Korea’s Fair Trade Commission (FTC) on Thursday for missing the deadline for selling off its cross shareholdings. Hyundai and Kia acquired 8.81 million new shares after merging two of their subsidiary companies, Hyundai Steel and Hyundai Hysco, in July 2015. The additional shares [...]
SEOUL, May 19 (Korea Bizwire) – Following Nissan, Suzuki is also facing allegations regarding emissions manipulation. Suzuki is the market leader in India, followed by Hyundai, and experts say the controversy could provide Hyundai with momentum to catch up to its competitor on Indian soil. According to the experts, India is one of the new [...]
SEOUL, May 16 (Korea Bizwire) – Hyundai Motor Group is extending its futuristic offerings beyond a recently-revealed wearable robot reminiscent of Iron Man. Following the latest photo releases of Iron Man look-a-like robot prototypes, Hyundai’s plans to develop advanced weaponry have also been revealed. The group’s subsidiaries, including Hyundai Motor, Kia Motor, Hyundai Mobis, Hyundai [...]
SEOUL, Apr. 29 (Korea Bizwire) – New types of car insurance plans which determine premiums based on driving patterns and trip information are being developed. Hyundai Marine & Fire Insurance (HI) has developed a new product called ‘Hi-Car BlueLink/UVO Insurance Plan’, which will be available mid-May. Hyundai’s BlueLink and Kia’s UVO telematics systems will collect [...]