SEOUL, Dec. 29 (Korea Bizwire) — Hyundai Glovis Co., the auto freight unit of South Korea’s Hyundai Motor Group, said Friday that it has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. Under the two separate deals, Hyundai Glovis said [...]
SEOUL, Oct. 16 (Korea Bizwire) – The market share of Hyundai Motor Company and Kia Motors continues to plunge with no sign of recovery, with the figure hitting an eight-year low. The U.S. market share of the Hyundai Motor Group, which owns both Hyundai and Kia Motors, is at its lowest in eight years, placing the [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Electronics climbed to 6th while Hyundai Motor Company stayed in 35th place for the second straight year in global brand consultancy Interbrand’s “Best Global Brands 2017” list. Kia also held steady by staying at 69th place, the same position it was in last year. Interbrand estimated Samsung Electronics’ [...]
SEOUL, Sept. 25 (Korea Bizwire) — Kia Motors Corp. said Monday recreational vehicles (RVs) accounted for more than 50 percent of its overall sales in the January-August period this year. Over the eight months, Kia sold 296,280 passenger vehicles in the domestic market. RVs accounted for 51.7 percent of that total, or 153,255 units, a [...]
SEOUL, Sept. 21 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-largest carmaker, said Thursday it will suspend overtime work at its domestic plants starting next week due to lower demand from its major markets. Kia workers at the carmaker’s three local plants, located in Gwangju in Jeolla Province, and Sohari and Hwaseong in Gyeonggi [...]
SEOUL, Sept. 11 (Korea Bizwire) – Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea’s two biggest carmakers, will temporarily shut down their plants in the United States to avoid any damages from Hurricane Irma, the companies said Monday. Hyundai Motor will suspend operation of its Alabama plant for two days from 4:45 [...]
SEOUL, Sept. 3 (Korea Bizwire) — After a South Korean court ruled on August 31 that regular bonuses and meal allowances are to be considered part of ‘ordinary wages’ at Kia Motors, significant attention is being focused on whether Kia’s average annual wage will now surpass 100 million won. However, since salary negotiations are based on [...]
SEOUL, Aug. 26 (Korea Bizwire) — As the country awaits the verdict next week in the wages lawsuit filed by Kia Motors’ labor union, which could have immense consequences for the South Korean automobile industry as a whole in the coming years, the debate over the legitimacy of so-called hard-line aristocratic labor unions is back [...]
SEOUL, Aug. 24 (Korea Bizwire) – A Seoul court is set to issue a ruling on the case involving wages at Kia Motors Corp. next week, a judiciary official said Thursday, a decision that could have far-reaching consequences for South Korean industries. Next Thursday, the Seoul Central District Court will decide whether to count “regular” [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korean carmakers on Tuesday cited high costs and low productivity as major sources of concern as they compete in an ever competitive market. In a seminar held in Seoul to discuss outstanding issues facing local carmakers, executives from Hyundai Motor Co. and Kia Motors Corp. expressed worries about [...]