SEOUL, Aug. 21 (Korea Bizwire) – Unionized workers at Kia Motors Corp. will stage a partial strike to demand higher wages, the carmaker’s union said Monday. The walkout planned for Tuesday comes as Kia’s management and its 28,240-strong union failed to narrow a gap over wages and other benefits in this year’s collective bargaining negotiations. [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korean carmakers posted lackluster profitability over the first half of 2017, industry data showed Sunday, falling far behind major overseas rivals. Top carmaker Hyundai Motor Co.’s first-half operating margin was 5.4 percent, down 1.2 percentage points from a year earlier, industry data showed. Its sister company Kia Motors [...]
SEOUL, July 27 (Korea Bizwire) – Kia Motors Corp. said Thursday its second-quarter net profit plunged 53 percent from a year earlier on weaker demand for its vehicles in China and the United States. For the three months that ended on June 30, net profit declined to 389.6 billion won (US$350 million) from 825.8 billion [...]
SEOUL, Jul. 25 (Korea Bizwire) — Kia Motors Corp., South Korea’s No. 2 carmaker by sales, has received 2,500 orders for its new subcompact SUV since its launch two weeks ago, the company said Tuesday. Kia Motors came up with the Stonic subcompact SUV to absorb growing demand for recreational vehicles amid a global economic [...]
SEOUL, Jul. 7 (Korea Bizwire) — When it rains, it pours, as labor disputes are putting increased pressure on the automobile manufacturing and shipbuilding industries already sagging underneath the weight of slowing sales. The industry giants currently involved in labor negotiations include Hyundai Motor, Kia Motors and GM Korea, while Hyundai Heavy Industries, the world’s largest [...]
HWASEONG, South Korea, June 27 (Yonhap) – Kia Motors Corp., South Korea’s second-largest carmaker, said Tuesday it will add a new SUV to its lineup next month to boost sales. “The B-segment SUV market has grown fast in the past five years since 2013 to 110,000 units in South Korea. The Stonic is to attract [...]
SEOUL, June 8 (Korea Bizwire) – Kia Motors Corp.’s Stinger sports sedan has generated a strong response in South Korea since its launch last month, with initial orders exceeding 2,700 units. Kia, the country’s second-biggest carmaker by sales after Hyundai Motor Co., has added the Stinger to its lineup to enhance its brand image and [...]
SEOUL, Jun. 5 (Korea Bizwire) — Sales of high-performance vehicles are on the rise in South Korea amid growing demand by consumers who want more from the cars they drive every day, industry sources said Friday. The number of performance cars sold here fell far behind sales of mass-market models but it has steadily increased [...]
SEOUL, May 17 (Korea Bizwire) – Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, said Wednesday they have sold more plug-in hybrid electric vehicles (PHEVs) in overseas markets this year due to good consumer demand for the latest green cars. In the January-April period, Hyundai and its sister company Kia exported [...]
SEOUL, May 12 (Korea Bizwire) – South Korea’s transport ministry on Friday ordered Hyundai Motor Co. and its sister company Kia Motors Corp. to recall a combined 240,000 vehicles for faulty parts. The Ministry of Land, Infrastructure and Transport made the final decision after reviewing five cases of suspected faulty parts in 12 models made [...]