SEOUL, April 15 (Korea Bizwire) – Hyundai Motor, South Korea’s top automaker, denied a media report Wednesday that it is seeking to build a factory in Mexico, calling it “groundless.” Bloomberg earlier reported that Hyundai Motor is pushing to build a plant in Mexico, citing an interview with a high-ranking official of the local unit of [...]
SEOUL, April 12 (Korea Bizwire) – Hyundai Motor Group, the world’s No. 5 auto giant, saw its U.S. sales of luxury sedans more than double on-year in the first quarter, industry data showed Sunday, setting a record-high quarterly share in the segment. The combined sales of Hyundai Motor‘s premium Genesis and Equus, and Kia Motors‘s K9 in [...]
SEOUL, April 3 (Korea Bizwire) – Among the top 30 Korean companies in terms of revenue, the average length of service of SK Energy employees was longest at 20.3 years. SK Energy was the only company whose workers serve more than 20 years on average. According to Saramin, a job recruiting portal in Korea, among [...]
SEOUL, March 30 (Korea Bizwire) — Kia Motors, Korea’s second-largest carmaker, started to sell its seven-seat Carnival Limousine in domestic market from March 30, providing more options for consumers seeking to buy premium minivans. Kia Motors had sold the seven-seat Carnival only in overseas markets but opted to sell it here, apparently encouraged by recently [...]
SEOUL, March 26 (Korea Bizwire) — Kia Motors released exterior images of the latest version of its K5 mid-size sedan ahead of its official showcase at upcoming Seoul Motor Show. The new K5 has chrome-lined headlamps and a hot-stamped sporty, widened radiator grille, demonstrating a “luxurious and powerful” front impression. Kia, South Korea’s second-largest carmaker, [...]
SEOUL, March 19 (Korea Bizwire) — Kia Motors unveiled the renderings of its revamped K5 midsize sedan ahead of its official unveiling next month at the Seoul Motor Show. The second-generation K5 comes five years after the brand was first introduced to the auto market. The new design incorporates a wider look from its front radiator [...]
SEOUL, March 17 (Korea Bizwire) – Kia Motors, South Korea’s second-largest carmaker, said Tuesday that its cumulative domestic sales of passenger cars have exceeded 5 million units, a milestone achieved in more than four decades since its first passenger car hit showrooms here. Kia Motors, a smaller affiliate of market leader Hyundai Motor, said the [...]
SEOUL, March 13 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor and its sister affiliate Kia Motors raised sales of localized car models in overseas markets such as Brazil by more than 25 percent in the first two months of the year from a year ago, industry data showed Friday. The number of localized models [...]
SEOUL, March 11 (Korea Bizwire) – Hyundai Motor has decided to lower financing rates by one percentage point for all of its models to boost its Korean sales. Last year, Hyundai Motor Group’s market share, including Kia Motors, fell below the 70 percent mark for the first time since 1998 due to strong competition from foreign [...]
SEOUL/SEJONG, Feb. 9 (Korea Bizwire) – South Korea’s tax earnings from the country’s 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation. Official data by Financial Supervisory Service (FSS) and corporate tracker Chaebul.com said the business groups [...]