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Wed, August 15, 2018 | 05:11

Biz & Tech > Automotive >

GM Korea's press conference spoiled by irregular workers

INCHEON -- GM Korea abruptly canceled a press conference Monday after squaring off against the members of its irregular workers' union. GM Korea CEO Kaher Kazem, GM International President Barry Engle, GM Korea Vice President Dale Sullivan and a number of other senior executives of the automaker were scheduled to announce their GM Korea normalization plans at a press conferen...

Automotive | 2018-05-14 15:00

'GM Korea rescue plan not good enough'

The government and GM have concluded a memorandum of understanding (MOU) on cooperation to help rescue the U.S. carmaker's local unit in Korea, but experts say the deal isn't enough to ensure its comeback here and is nothing but 10-year-long “life support” with taxpayers' money.

Automotive | 2018-05-11 18:27

'Hyundai Motor will not be swayed by Elliott'

Hyundai Motor Vice Chairman Chung Eui-sun expressed his intention to adhere to Hyundai Motor Group's (HMG) proposed restructuring plan, saying the group will not be swayed by pressure from Elliott.

Automotive | 2018-05-11 17:45

Hankook Tire acquires British solution firm

Hankook Tire Manufacturing Co., South Korea's biggest auto parts maker, said Friday it has acquired a British prototype solution company in a move to secure a new growth driver.

Automotive | 2018-05-11 14:05

Korea's state bank chief calls rescue package for GM 'win-win' deal

The head of state-run Korea Development Bank (KDB) said Friday that the rescue package for General Motors Co.'s local unit is a "win-win" agreement for both South Korea and GM, dismissing concerns that the U.S. carmaker may eventually exit the country.

Automotive | 2018-05-11 13:39

Renault Samsung to remove 'Samsung' from its brand name

Renault Samsung is taking steps to remove “Samsung” from its brand name. The carmaker has paid Samsung Group a royalty worth tens of billions of won every year, and the measure is expected to improve its financial status if it gets rid of the name of the nation's largest conglomerate.

Automotive | 2018-05-10 18:53

Hyundai Mobis hires Continental infotainment expert

Amid increasing digitalization of vehicles, Hyundai Mobis hired a foreign expert to beef up its technology capabilities in the in-vehicle infotainment and connectivity sector.

Automotive | 2018-05-10 17:13

BMW opens its largest showroom in Songdo

BMW opened its largest showrooms and auto body shops in Songdo, Incheon, Thursday, further bolstering the presence of its Korean unit amid its intensifying rivalry with Mercedes-Benz. Boasting five floors of 6,400 square meters each, the Bavarian Motors Songdo Complex stands as one of BMW's biggest showroom complexes in the world.

Automotive | 2018-05-10 17:09

GM to establish Asia Pacific headquarters in Korea

General Motors Co. will establish an Asia Pacific headquarters in South Korea and push for the manufacturing of key auto parts in its local design and technology center as part of its effort to show long-term commitment to growth in the country, Seoul's commerce ministry said Thursday.

Automotive | 2018-05-10 13:36

Korean gov't to inject $7.1 billion into GM Korea

Korean gov't to inject $7.1 billion into GM Korea

The South Korean government and General Motors Co. agreed to a US$7.15 billion lifeline to keep afloat the U.S. carmaker's ailing local unit, officials here said Thursday. Under the agreement, GM will convert $2.8 billion worth of debt owed by GM Korea Co. into shares and extend loans worth $3.6 billion to the local unit for facility investment, South Korean Finance Minister ...

Automotive | 2018-05-10 13:33

GM to establish Asia Pacific headquarters in Korea

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