South Korea

GM Korea workers vote to strike as wage talks continue

6:29 am U.S. ET | July 9, 2014
GM's South Korean workers today voted to go on strike over salaries and production volume, signaling tough annual wage talks for automakers already grappling with falling earnings because of the stronger won....
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Hyundai sued in S. Korea after overstating fuel efficiency of Santa Fe

7:12 am U.S. ET | July 7, 2014
Hyundai was sued by consumers in its home market after the nation's transport ministry said the company overstated the fuel efficiency of one of its models....
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GM Korea contractor probed by prosecutors for possible leak of engine technology

7:05 am U.S. ET | July 2, 2014
General Motors said South Korean prosecutors are investigating whether a contractor leaked the carmaker’s engine technology overseas....
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GM Korea faces most critical wage negotiations ever, CEO says

8:23 am U.S. ET | May 29, 2014
GM's South Korea chief said local labor costs may rise 15 percent, fueling profitability concerns in a country where exporters are already struggling with the won's climb to a six-year high....
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Hyundai plans new 'flagship' sedan to combat growing rivals at home

3:22 am U.S. ET | May 29, 2014
Hyundai, feeling pinched at home by increasingly popular import brands, will add a new "flagship" sedan slotted between the Azera and Genesis to try to win more high-end sales....
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Hyundai goes 'Gangnam Style' with glitzy global showcase

12:42 pm U.S. ET | May 16, 2014
Hyundai is going “Gangnam Style” with a glitzy new showcase smack in the middle of its hometown's ritziest neighborhood....
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After losing Europe as an export market, unit cuts output, eyes new markets

12:01 am U.S. ET | May 5, 2014
Sergio Rocha, the 35-year GM engineering veteran who runs GM Korea, has hustled to adjust to tough times for the automaker. The company compromised with unions on slowing output, implemented white-collar buyouts and is now eyeing new export markets such as Australia as substitutes for lost European sales. Rocha has also delivered record sales of 151,341 vehicles in Korea last year. GM now has a 10 percent share, making it the country's No. 3 player....
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After losing Europe, GM Korea eyes new markets

May 5, 2014 06:01 CET
When GM decided to pull Chevrolet from Europe, it saddled its Korean unit with 150,000 units of excess capacity. GM Korea is now eyeing new markets such as Australia as substitutes for lost European sales....
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GM doubles size of Korean design center, hub for small-car development

12:59 pm U.S. ET | April 25, 2014
GM has doubled the size of its South Korean design center to take on a host of new tasks, from full-scale modeling to 3-D printing, as the carmaker aims to fortify its global hub for small-car development, design and manufacturing....
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Ford, Canadian union criticize South Korea trade deal

8:00 am U.S. ET | March 12, 2014
A new free trade agreement with South Korea will throw a wrench into Canada's auto sector recovery, Ford and Canadian union leaders warned on Tuesday, highlighting the pressure on an industry already struggling with competition from Mexico....
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Canada to phase out tariffs on Korean vehicles under trade pact

2:04 am U.S. ET | March 11, 2014
Canada concluded negotiations on a free-trade deal with South Korea that it says will phase out tariffs on cars made by Korean companies such as Hyundai....
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GM weighs increasing South Korean car exports to Australia

12:45 pm U.S. ET | March 6, 2014
General Motors may increase exports of cars built in South Korea to Australia to offset production declines after the automaker decided to pull its Chevrolet brand from the European market....
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GM eyes Korean job cuts ahead of Chevy withdrawal from Europe, report says

Jan. 24, 2014 14:25 CET
GM may cut up to 1,100 jobs in South Korea as it pulls its Chevrolet brand from Europe and realigns global manufacturing....
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GM eyes 1,100 S. Korean job cuts ahead of Chevy's withdrawl in Europe, report says

8:25 am U.S. ET | Jan. 24, 2014
GM is seeking to cut shifts by half at one of its South Korean factories as it realigns global manufacturing in a move that could affect about 1,100 jobs, a source with direct knowledge of the matter told Reuters on Friday....
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Kia profit hit as stronger won hurts car exports

Jan. 24, 2014 06:01 CET
Kia posted fourth-quarter profit that missed estimates as a stronger won cut exports....
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Kia's fourth-quarter profits rise 29%

8:34 pm U.S. ET | Jan. 23, 2014
Kia's fourth-quarter profit rose 29 percent, beating analysts' estimates, after sales of pricier models increased at home. The higher sales of Sportage and Soul vehicles are a bright spot in a year in which a stronger won damped revenue in the United States, Kia's biggest market, and the company agreed to settle lawsuits for overstating fuel-economy ratings....
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In Korea, free trade still not balanced trade

12:07 pm U.S. ET | Jan. 10, 2014
Import car sales in South Korea rocketed 20 percent higher in 2013 to an all-time high. Proof that the United States free-trade pact is finally paying off for Detroit? Think again....
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Bosch, Continental, Denso fined by South Korea for price fixing

6:31 am U.S. ET | Dec. 23, 2013
South Korea's antitrust regulator fined units of Denso, Continental and Bosch a total of $107.99 million, saying they had fixed prices of parts sold to Hyundai and Kia. The fine comes as antitrust regulators from the United States to Europe and Japan crack down on price collusion among auto parts makers....
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Bosch, Continental, Denso fined by South Korea for price fixing

Dec. 23, 2013 12:31 CET
South Korea's antitrust regulator fined units of Denso, Continental and Bosch a total of $107.99 million, saying they had fixed prices of parts sold to Hyundai Motor and affiliate Kia. The fine comes as antitrust regulators from the United States to Europe and Japan crack down on price collusion among auto parts makers....
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GM to cut S. Korean jobs as Chevy pullout looms in Europe

6:45 am U.S. ET | Dec. 17, 2013
General Motors plans to slash its headcount in South Korea next year as it prepares to withdraw its Chevy brand in Europe, a major export market for South Korean-made cars....
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GM likely to cut Korea output by nearly 20% in 2015, researcher says

9:23 am U.S. ET | Dec. 5, 2013
General Motors is likely to cut the number of cars it makes in South Korea by nearly 20 percent in 2015 compared with 2013, said industry researcher IHS Automotive....
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GM will open Singapore headquarters to back emerging-market thrust

Nov. 13, 2013 08:04 CET
General Motors will open a new headquarters in Singapore headed by former Volvo CEO Stefan Jacoby to oversee markets including Southeast Asia and India....
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For Hyundai, Korean factory footprint becomes a millstone

12:01 am U.S. ET | Nov. 10, 2013
It takes twice as long on average -- over 28 hours -- for Hyundai to make a car in South Korea than in the United States, even though its domestic plants have far more workers for each production line....
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Kia's October U.S. sales fall as 2013 results fester

3:33 pm U.S. ET | Nov. 1, 2013
Kia monthly sales fell for the fifth time this year, continuing the Korean brand's lackluster 2013 sales performance. Kia's sales fell to 39,754 vehicles in October, down 6 percent from a year earlier, while overall U.S. auto sales grew 10 percent....
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Kia profits rise 8.9% in Q3 despite strike-related losses

9:14 am U.S. ET | Oct. 25, 2013
A three-week union strike in its home market hampered Kia Motors profits during the third quarter, but the automaker said it still posted an 8.9 percent gain in net income....
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