SEOUL, Jun. 5 (Korea Bizwire) –Hyundai Motor Company has introduced the 2025 Grandeur, a revamped version of its flagship sedan, the company announced on June 5. Since its debut in 1986, the Grandeur, once nicknamed the “executive car,” has been Hyundai’s signature sedan. Last year, it solidified its position as a best-selling vehicle in South [...]
SEOUL, May 30 (Korea Bizwire) – South Korea’s automakers led all industries in cash dividends paid to shareholders last year, reflecting a boom in exports and demand for eco-friendly vehicles even as a global chip slump weighed on technology giants. Listed companies distributed a total of 29.5 trillion won in cash dividends for 2023, up 3.3% [...]
SEOUL, May 28 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has hired a former Porsche engineer who led the development of the luxury sports car brand’s first electric vehicle (EV), Taycan, as it strives to further improve its vehicles’ performance. The South Korean carmaker has appointed Manfred Harrer as executive vice president and [...]
SEOUL, May 27 (Korea Bizwire) – The South Korean Ministry of Land, Infrastructure and Transport has announced plans to launch a pilot program for a new “smart toll” system on the nation’s highways, an initiative launched in collaboration with the Korea Expressway Corporation. The trial, slated to commence on May 28 for a one-year period, aims [...]
SEOUL, May 26 (Korea Bizwire) – Volkswagen Group Korea has embraced its role as a corporate citizen by establishing a nonprofit foundation to commemorate two decades in the South Korean auto market. On May 23, the company, led by President and CEO Till Scheer, announced the launch of the Volkswagen Group WE: Foundation, a philanthropic [...]
SEOUL, May 26 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, has said it plans to boost its investment in electric vehicle (EV) parts and automotive chips this year. The auto parts arm of Hyundai Motor Group unveiled its plan during the Mobis Mobility Day in Silicon Valley on Thursday (U.S. [...]
SEOUL, May 26 (Korea Bizwire) – Lee Sang-hyeok, the world-renowned esports pro gamer known as Faker, has turned heads by regularly receiving luxury foreign cars as gifts from sponsors like BMW, highlighting the lucrative endorsement deals available to elite competitors. Faker, 26, is the star player for T1, the esports team owned by the [...]
SEOUL, May 23 (Korea Bizwire) – Kia Corp., South Korea’s second-biggest carmaker by sales, said Thursday it will launch its third battery-powered model in the domestic market in July as part of its future mobility solutions roadmap. Kia plans to receive preorders for the EV3 SUV, the third pure electric vehicle model after the EV6 [...]
SEOUL, May 23 (Korea Bizwire) – Hyundai Motor Company’s shares surged 9% on May 22 as the automaker showcased its ambitions in hydrogen-powered vehicles and clean transportation systems at an industry expo in Las Vegas. The company’s stock closed at 277,000 won, rising 24,000 won or 9.49% from the previous day’s close. In late trading, Hyundai’s [...]
SEOUL, May 22 (Korea Bizwire) — The antitrust regulator said Wednesday it has decided to order Renault Korea Motors Co. to take corrective steps for excessively charging its dealerships for urgent orders of auto parts. The South Korean unit of Renault S.A. had levied a combined 394.64 million won (US$289,935) in penalties against 305 authorized dealerships between June 2012 and December [...]