Author: Yonhap Online News

Hyundai cancels corporate overhaul plan

SEOUL, May 21 (Yonhap) — Hyundai Motor Group on Monday canceled the corporate restructuring plan the company announced in March, following stepped-up campaigns of opposition by some investors. Under the corporate overhaul plan, the group’s auto parts supplier, Hyundai Mobis Co., was slated to spin off its domestic module and after-sales parts businesses and merge… Continue reading Hyundai cancels corporate overhaul plan

(LEAD) Hyundai Motor CEO defends group’s overhaul plan amid growing opposition

(ATTN: ADDS Truston Asset Management’s view in paras 12-13) SEOUL, May 17 (Yonhap) — Hyundai Motor Co. President and Chief Executive Lee Won-hee on Thursday came forward to defend the parent conglomerate’s governance overhaul plan amid an escalating campaign of opposition by foreign investors. “We strongly urge our shareholders to give full their support to… Continue reading (LEAD) Hyundai Motor CEO defends group’s overhaul plan amid growing opposition

Hyundai Motor CEO defends group’s overhaul plan amid growing opposition

SEOUL, May 17 (Yonhap) — Hyundai Motor Co. President and Chief Executive Lee Won-hee on Thursday came forward to defend the parent conglomerate’s governance overhaul plan amid an escalating campaign of opposition by foreign investors. “We strongly urge our shareholders to give full their support to Hyundai Motor Group’s corporate restructuring plan as it is… Continue reading Hyundai Motor CEO defends group’s overhaul plan amid growing opposition

(LEAD) Hyundai Motor says ISS opposition to overhaul plan ‘deeply regrettable’

(ATTN: UPDATES with quote and other details) By Kim Kwang-tae SEOUL, May 16 (Yonhap) — Hyundai Motor Group on Wednesday accused U.S. proxy adviser ISS of misleading the market by opposing its corporate governance overhaul program as it vowed to persuade investors to support the restructuring plan at two key shareholders’ meetings set for later… Continue reading (LEAD) Hyundai Motor says ISS opposition to overhaul plan ‘deeply regrettable’

(LEAD) Hyundai mulls acquiring electronic auto parts maker for growth

(ATTN: ADDS details in 4th para and Chung’s comment on Genesis sedan in last para) SEOUL, May 11 (Yonhap) — Hyundai Mobis Co., South Korea’s largest auto parts company by sales, is considering acquiring an electronic auto component maker to stay ahead in future car technologies, the company said Friday. In a recent interview with… Continue reading (LEAD) Hyundai mulls acquiring electronic auto parts maker for growth

Gov’t, GM agree to inject 7.7 tln won into normalizing S. Korean unit of U.S. carmaker

SEOUL, May 10 (Yonhap) — The South Korean government and General Motors Co. reached an agreement Thursday to spend 7.7 trillion won (US$7.16 billion) on keeping the troubled South Korean unit of the U.S. carmaker afloat. The agreement reached between Seoul’s finance minister and GM International President Barry Engle also calls for the Detroit-based automaker… Continue reading Gov’t, GM agree to inject 7.7 tln won into normalizing S. Korean unit of U.S. carmaker

Hyundai Mobis hires ex-Continental expert on infotainment, connectivity

SEOUL, May 10 (Yonhap) — South Korea’s top auto parts maker Hyundai Mobis Co. said Thursday that it has hired a former software expert of German automotive technology firm Continental in the latest move to strengthen its infotainment and connectivity competitiveness. Carsten Weiss, who handled development of telematics, infotainment systems and software platforms at Continental,… Continue reading Hyundai Mobis hires ex-Continental expert on infotainment, connectivity

Hyundai Mobis to make inroads into automotive digital instrument cluster market

SEOUL, May 9 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, said Wednesday it aims to make inroads into the global automotive digital instrument cluster market to generate future growth. Hyundai Mobis, the auto component affiliate of Hyundai Motor Group, said it began production of 7-inch digital instrument clusters for… Continue reading Hyundai Mobis to make inroads into automotive digital instrument cluster market

(LEAD) Hyundai Mobis expects to win US$7 bln in orders this year

(ATTN: CHANGES photo) SEOUL, May 8 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Tuesday it expects to win US$7 billion worth of orders globally this year on the heels of a rise in demand in China. Total orders soared to $6 billion in 2017 from $500 million in 2015 as… Continue reading (LEAD) Hyundai Mobis expects to win US$7 bln in orders this year