SEOUL, Nov. 23 (Korea Bizwire) – Thanks to record-breaking earnings, Hyundai Motor and Kia Corp. have surpassed Samsung Electronics in charitable donations so far this year, marking a historic first. According to CEO Score, which monitors corporate management activities, a total of 264 out of the country’s top 500 firms by sales collectively donated 1.4 trillion [...]
SEOUL, Nov. 17 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Friday they have unveiled their latest electric vehicle (EV) units and concept models under way at the 2023 Los Angeles Auto Show as the companies strengthen their electric portfolios. Hyundai debuted the Ioniq 5 N, the first high-performance EV model [...]
GWANGJU, Nov. 8 (Korea Bizwire) — A production plant of Kia Corp., South Korea’s second-largest automaker, has been suspended following a fatal accident at one of its parts subcontractors, according to company officials Wednesday. According to plant officials, production at the Kia facility in Gwangju, about 270 kilometers south of Seoul, has been suspended since [...]
SEOUL, Oct. 30 (Korea Bizwire) – Hyundai is on the cusp of achieving double-digit market share in the U.S. electric vehicle (EV) segment. It’s intriguing to observe whether Hyundai can solidify its position as a pioneer in the American transition to electrification. During the third quarter of this year, Hyundai successfully sold 21,638 electric vehicles in [...]
SEOUL, Oct. 25 (Korea Bizwire) – Kia Corp., South Korea’s second-largest automaker, said Wednesday it plans to sell refurbished used cars produced by the company, similar to the program launched by its larger affiliate, Hyundai Motor Co., this week. The company announced it will start selling refurbished secondhand Kia units, including both electric vehicles (EVs) [...]
SEOUL, Oct. 20 (Korea Bizwire) — Hyundai Motor Group on Friday unveiled a goal to sell over 550,000 vehicles annually in the Middle East by 2030, with the aim of acquiring a 20 percent share of the regional market. The group said in its newly announced mid- to long-term business vision for the Middle East [...]
SEOUL, Oct. 19 (Korea Bizwire) – Kia’s labor and management recently reached a preliminary agreement on wages, and it includes an unusually large compensation package. What happened is that the labor union successfully used the “employment inheritance” issue as leverage. In simpler terms, they got significant compensation in exchange for removing a clause that should have been [...]
YEOJU, South Korea, Oct. 12 (Korea Bizwire) – Kia Corp., South Korea’s second-largest automaker, unveiled two brand new concept electric vehicle (EV) units with the goal to commercially launch the midsize SUV and sedan models in 2024. At a 2023 Kia EV Day press event held in Yeoju, 62 kilometers southeast of Seoul, Kia revealed [...]
SEOUL, Oct. 11 (Korea Bizwire) – The labor union of Kia Corp., South Korea’s second-largest automaker, said Wednesday it will resume wage talks with the company this week, while shelving a plan to hold partial strikes. Earlier in the day, the union announced a plan to stage an eight-hour walkout Thursday and Friday, citing stalled [...]
SEOUL, Sept. 25 (Korea Bizwire) – In the Korean automotive industry, there’s a big debate about something called “employment inheritance clauses.” Recently, Hyundai Motor successfully completed five years of wage and collective bargaining discussions without any interruptions. But Kia is currently facing a tough battle in negotiations with its labor union. In this year’s wage talks, [...]