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Fri, April 27, 2018 | 00:17

Biz & Tech > Automotive >

Hyundai Mobis unveils post-spin-off plans

Hyundai Mobis, which is the key company in Hyundai Motor Group's shareholder restructuring efforts, unveiled its plans for after the proposed spin-off of its modules and after-service divisions.

Automotive | 2018-04-26 17:29

'Elliott's demands go against Fair Trade Act'

Fair Trade Commission (FTC) Chairman Kim Sang-jo pointed out Elliott's recent proposals to Hyundai Motor Group could violate the country's Fair Trade Act, according to industry officials, Thursday. At a forum hosted by a local news outlet, the antitrust regulator reportedly said the activist hedge fund's request for the merger of Hyundai Mobis and Hyundai Motor to form a hold...

Automotive | 2018-04-26 17:10

GM Korea workers okay salvage deal

Union workers of GM Korea have voted for the salvage deal that union leaders and management struck earlier this week, paving the way for the carmaker to get itself back on track.

Automotive | 2018-04-26 17:03

SUVs to spearhead Hyundai Motor's China rebound

Hyundai Motor and Kia Motors are seeking to rebound in China, hoping that the new SUV lineup could uplift declining sales in the country. Hyundai Motor Vice Chairman Chung Eui-sun on Wednesday told reporters at the Beijing International Automotive Exhibition that Hyundai Motor's goal in China this year is “selling 900,000 vehicles,” adding that he is quite sure the group can ...

Automotive | 2018-04-26 16:58

GM president says 'very close to resolution' for Korea unit

General Motors Co. President Dan Ammann said Thursday the U.S. carmaker is in the final stages to resolve the liquidity problems facing its South Korean unit amid talks with the Korean government. "Over the last few months, in particular over the last few weeks, a lot of very good progress has been made. We stand here today very close to a resolution on most of these particul...

Automotive | 2018-04-26 13:49

Porsche Korea in trouble over emission cheating, falling sales

Porsche has been suffering from falling sales in Korea over the past year after the German sports car brand was stripped of the rights to sell some of its vehicles for cheating on emissions tests.

Automotive | 2018-04-25 17:10

Ssangyong Motor seeks better work-life balance

PYEONGTAEK, Gyeonggi Province _ A Ssangyong Motor factory in this industrial city was busy manufacturing the company's top sport utility vehicles (SUV), Tuesday, regardless of the implementation of the new type of work shift system. Workers, who forsook their extra pay in return for the end of the conventional night shift, were carefully assembling parts in the early afternoo...

Automotive | 2018-04-25 16:59

GM, KDB inching closer to reaching deal

The Korea Development Bank (KDB) and General Motors are likely to conclude negotiations over salvaging the debt-ridden GM Korea after the U.S. carmaker reportedly accepted the state-run bank's demands.

Automotive | 2018-04-25 16:46

FCA Korea focusing on SUVs with new Jeep lineup

Fiat Chrysler Automobiles (FCA) Korea said Wednesday it is coming out with a new Jeep lineup at the brand's exclusive showrooms here for its sport utility vehicle (SUV)-centered strategy in line with the growing popularity of SUVs in Korea. According to the multinational automaker's local unit, CEO Pablo Rosso recently promised to release the all-new Compass and the all-new W...

Automotive | 2018-04-25 16:20

GM, Korean gov't weigh raising investment plan

General Motors and South Korea are considering increasing the size of their investment in the U.S. automaker’s local unit from a previously proposed $2.8 billion, a senior government source with direct knowledge of the matter said on Wednesday. GM Korea averted bankruptcy on Monday after striking a last-minute wage deal with its labor union. The U.S. automaker has been in tal...

Automotive | 2018-04-25 13:00

Tug-of-war begins between GM, Korea Development Bank

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Missile attack on Syria