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Sat, June 23, 2018 | 20:52

Biz & Tech > Automotive >

Hyundai Mobis to retire treasury stocks worth $559 mil.

Hyundai Mobis will retire its treasury stocks worth 600 billion won ($558 million) over the next three years and will pay quarterly dividends to its shareholders, the auto part business arm of Hyundai Motor Group said Wednesday. The measures came after Hyundai Motor's recent announcement on the cancellation of its treasury stocks worth about 1 trillion won.

Automotive | 2018-05-02 17:03

GM Korea's April sales fall 22 percent on weak local demand

GM Korea Co., the South Korean unit of General Motors Co., said Tuesday its April sales fell 22 percent from a year earlier due to weaker domestic demand.

Automotive | 2018-05-02 15:44

Head of import car brand association remains upbeat

The newly appointed chief of the Korea Automobile Importers & Distributors Association (KAIDA) said Monday he expects an increase in sales and market share of imported cars, based on brand diversity.

Automotive | 2018-04-30 16:34

[INTERVIEW] Ssangyong's EV biz independent from Mahindra

Mahindra & Mahindra and its Korean affiliate, Ssangyong Motor, will release their electric vehicles (EV) onto the market separately, despite their close technical cooperation, according to Pawan Goenka, a managing director of the Indian firm and chairman of the affiliate's board of directors.

Automotive | 2018-04-30 16:10

Nexen Tire angers baseball fans for not sponsoring Heroes

Nexen Tire, the main sponsor for the Seoul Heroes, has angered fans for delaying payment to the baseball team. According to industry officials, Monday, the nation's third-largest tiremaker has not funded the professional team for the past two months, following the imprisonment of former Heroes President Lee Chang-suk in February over allegations of fraud and embezzlement. Bas...

Automotive | 2018-04-30 16:03

Foreign stakes in Hyundai Motor increasing

The stakes owned by foreign investors in Hyundai Motor Company are continuing to rise, casting concerns over U.S. activist fund Elliott influencing other foreign funds to oppose Hyundai Motor Group's (HMG) proposed plan to restructure its shareholding structure.

Automotive | 2018-04-29 16:56

[Test Drive] K9 more like chauffeur-driven sedan

The 2018 Kia Motors' K9 rides as if it is a chauffeur-driven sedan, although the nation's second-largest carmaker categorized its fully-revamped top model as a premium-class owner-driven car. This reporter, who was offered both a test-drive and test-ride in the luxury sedan for a 155-kilometer-round trip between Lotte World Tower in Seoul and The Players Golf Club in Chuncheo...

Automotive | 2018-04-29 10:39

GM Korea still faces long road back to normality

GM Korea's Detroit headquarters a nd the Korea Development Bank reached an agreement Thursday about a financial injection to salvage the debt-ridden car maker, but experts say this is not the ultimate solution to its problems.

Automotive | 2018-04-28 05:06

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 | 2018-04-27 16:59

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

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