Author: Yonhap Online News

Hyundai Mobis outlines growth plans in line with group’s streamlining

SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, on Thursday outlined its growth plans in line with its parent Hyundai Motor Group’s broad governance restructuring program. The move comes after Hyundai Motor Group announced last month that auto parts supplier Hyundai Mobis will spin off its domestic… Continue reading Hyundai Mobis outlines growth plans in line with group’s streamlining

(LEAD) Hyundai Q1 net plunges 48 pct on strong won, weak sales

(ATTN: CHANGES headline and lead; ADDS details throughout) SEOUL, April 26 (Yonhap) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday its first-quarter net profit plunged 48 percent on the strong won and weak sales in two major markets. Net profit for the three months ending March 31 fell to 731.6 billion… Continue reading (LEAD) Hyundai Q1 net plunges 48 pct on strong won, weak sales

Four carmakers to recall over 230,000 vehicles: ministry

SEOUL, April 26 (Yonhap) — Four carmakers will voluntarily recall more than 230,000 vehicles to fix faulty parts, the transport ministry said Thursday. It is the latest in a series of recalls by carmakers and importers to ensure their vehicles meet current safety rules. The four automakers — Hyundai Motor Co., Kia Motors Corp., Jaguar… Continue reading Four carmakers to recall over 230,000 vehicles: ministry

Activist Elliott demands Hyundai Motor encourage cumulative voting

SEOUL, April 25 (Yonhap) — U.S. activist fund Elliott Management has demanded Hyundai Motor Co. and its two affiliates remove a clause that makes it possible for the three firms to avoid a cumulative voting system to pick board members, an industry source said Wednesday. Elliott Management, which revealed earlier this month that it holds… Continue reading Activist Elliott demands Hyundai Motor encourage cumulative voting

(LEAD) Hyundai Motor Group unveils two new models in Beijing

(ATTN: CHANGES headline and lead; ADDS photos and details) SEOUL, April 25 (Yonhap) — Hyundai Motor Group, South Korea’s biggest carmaker by sales, has unveiled two new vehicles at this year’s Beijing Motor Show to prop up its lackluster sales in the world’s biggest automobile market, the company said Wednesday. Hyundai Motor Co. has introduced… Continue reading (LEAD) Hyundai Motor Group unveils two new models in Beijing

Hyundai Mobis develops stabilization technology

SEOUL, April 24 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Tuesday it has developed an advanced suspension system that helps reduce the body lean of cars during cornering. The company said five years of work went into its electrical Active Roll Stabilization (eARS), which not only improves handling on turns… Continue reading Hyundai Mobis develops stabilization technology

(LEAD) KDB, GM set to sign initial funding deal for U.S. carmaker’s Korean unit this week

(ATTN: ADDS more details throughout) By Choi Kyong-ae SEOUL, April 24 (Yonhap) — General Motors Corp. and the state-run Korea Development Bank, the two biggest shareholders of GM Korea Co., are set to sign an initial funding agreement this week to help GM’s Korean unit stay afloat, the two companies said Tuesday. The KDB is… Continue reading (LEAD) KDB, GM set to sign initial funding deal for U.S. carmaker’s Korean unit this week

KDB, GM set to sign initial funding deal for U.S. carmaker’s Korean unit this week

By Choi Kyong-ae SEOUL, April 24 (Yonhap) — General Motors Corp. and the state-run Korea Development Bank, the two biggest shareholders of GM Korea Co., are set to sign an initial funding agreement this week to help GM’s Korean unit stay afloat, the two companies said Tuesday. The KDB is expected to sign a preliminary… Continue reading KDB, GM set to sign initial funding deal for U.S. carmaker’s Korean unit this week

Antitrust chief calls Hyundai Motor’s governance restructuring ‘right direction’

SEOUL, April 20 (Yonhap) — The head of South Korea’s antitrust regulator said Friday that Hyundai Motor Group has taken a step in the right direction, citing its latest plan to streamline its complicated governance structure through business spinoffs and mergers. In a meeting with foreign correspondents in Seoul, Korea Fair Trade Commission Chairman Kim… Continue reading Antitrust chief calls Hyundai Motor’s governance restructuring ‘right direction’