SEOUL, May 30 (Korea Bizwire) – South Korea’s automakers led all industries in cash dividends paid to shareholders last year, reflecting a boom in exports and demand for eco-friendly vehicles even as a global chip slump weighed on technology giants. Listed companies distributed a total of 29.5 trillion won in cash dividends for 2023, up 3.3% [...]
SEOUL, May 28 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has hired a former Porsche engineer who led the development of the luxury sports car brand’s first electric vehicle (EV), Taycan, as it strives to further improve its vehicles’ performance. The South Korean carmaker has appointed Manfred Harrer as executive vice president and [...]
SEOUL, May 23 (Korea Bizwire) – Hyundai Motor Company’s shares surged 9% on May 22 as the automaker showcased its ambitions in hydrogen-powered vehicles and clean transportation systems at an industry expo in Las Vegas. The company’s stock closed at 277,000 won, rising 24,000 won or 9.49% from the previous day’s close. In late trading, Hyundai’s [...]
SEOUL, May 21 (Korea Bizwire) – A tense standoff has emerged between Hyundai Motor Group and the Seoul Metropolitan Government over the proposed height of buildings in the forthcoming Global Business Complex (previously Global Business Center) slated for Seoul’s affluent Gangnam district. The discord centers on the maximum number of floors for the tallest skyscraper in [...]
SEOUL, May 20 (Korea Bizwire) — Hyundai Motor Co.’s vehicle selling prices soared over the past five years due to a weak won, higher costs and high-end models, the company’s data showed Monday. In the domestic market, the average selling price of Hyundai’s passenger vehicles rose to 53.19 million won (US$39,000) in the January-March period, [...]
SEOUL, May 20 (Korea Bizwire) – With extending the retirement age emerging as a key issue in this year’s wage and collective bargaining negotiations at major South Korean companies, discussions on the matter are expected to take place at Hyundai Motor, a leader in the country’s automotive industry. On May 19, the Dong-A Ilbo reported that [...]
SEOUL, Apr. 26 (Korea Bizwire) – Hyundai Motor Company has announced plans to manufacture hybrid vehicles at its upcoming electric vehicle (EV) plant in Georgia, United States, scheduled to commence operations in the latter half of this year. During a conference call discussing the company’s first-quarter earnings on April 25, Lee Seung Jo, Head of Hyundai’s [...]
SEOUL, Apr. 25 (Korea Bizwire) — The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilize the country as a key export hub for the South Korean automaker, the group said Thursday. Euisun Chung, Hyundai Motor Group’s executive chair, visited the group’s Indian headquarters [...]
SEOUL, Apr. 24 (Korea Bizwire) – Hyundai Motor Company has announced that it is opening an offline tuning platform called the ‘N Performance Garage’ in Cheonan-gu, Yongin, Gyeonggi Province, to provide a new tuning culture experience. The N Performance Garage is an official tuning specialty shop for Hyundai’s high-performance ‘N’ brand, featuring a display of the [...]
SEOUL, Apr. 22 (Korea Bizwire) — Hyundai Motor Group said Monday it has signed a 174- megawatt power purchase agreement (PPA) with a solar energy project led by Spain’s Matrix Renewables to power its envisioned electric vehicle (EV) plant in the United States with renewable energy. The 15-year PPA with the Matrix Renewables-led Stillhouse Solar [...]