South Korea


VW could face fines in Australia, sales halt in S. Korea

Oct. 1, 2015 11:42 CET

VW Group could face millions of dollars in fines in Australia and the suspension of sales in South Korea in the wake of the automaker's admission that it used emissions-cheating software in 11 million vehicles worldwide....
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LG Chem CEO Prabhakar Patil to retire

4:20 pm U.S. ET | Sept. 29, 2015

Prabhakar Patil will retire as CEO of LG Chem Power, effective Wednesday, the battery maker said today. He will be succeeded by Denise Gray, who helped develop the Chevrolet Volt's lithium ion battery system, starting Thursday....
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GM may need to cut capacity in Korea as exports slow

10:26 am U.S. ET | Sept. 23, 2015

GM may need to cut production capacity in its South Korean operations if the company can’t increase sales of the vehicles built there, the president of the GM International division said....
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South Korea will probe VW, Audi diesel car emissions

Sept. 22, 2015 10:40 CET

South Korea said it will investigate emissions of three VW and Audi diesel cars after VW Group admitted rigging emissions tests on diesel-powered vehicles in the U.S....
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Hyundai, Kia replace China executives after sales slump

11:12 am U.S. ET | Aug. 18, 2015

Hyundai and sister automaker Kia replaced three China executives, the South Korean carmaker said today, after sales skidded in the country, the group's largest market....
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GM Korea reaches tentative wage deal with union

9:01 am U.S. ET | July 27, 2015

General Motors' South Korean unit tentatively reached an annual wage deal with its labor union today, averting a major strike at one of its key Asian production bases, a union spokesman told Reuters....
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Hyundai expects 'tepid' global sales growth amid uncertainties

6:32 am U.S. ET | July 13, 2015

Hyundai Motor Group expects “tepid growth” for global auto sales in the second half of this year because of economic uncertainties and a weak won....
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GM Korea workers approve strike over pay, output

6:57 am U.S. ET | July 1, 2015

GM employees in South Korea voted today in favor of a strike over wages and production volumes, prompted by uncertainty over the automaker's output plans as its labor costs in the country rise....
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Hyundai, Kia cut output in South Korea after sales decline

7:43 am U.S. ET | June 12, 2015

Hyundai and its affiliate Kia are reducing production after sales fell at the two Korean carmakers....
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Hyundai to boost output of Tucson SUV

2:01 pm U.S. ET | May 22, 2015

Hyundai said today it would boost output of its Tucson SUV by adding production at a South Korean assembly line that currently makes sedans in order to meet demand from markets including the United States....
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Hyundai to create shareholder-rights group after land deal irks investors

7:23 am U.S. ET | April 27, 2015

Hyundai Motor will establish a committee to represent shareholder interests when the board makes key decisions such as acquisitions, heeding calls from investors angered over a $10 billion land purchase last year....
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South Korea steps up price-fixing crackdown on auto suppliers

10:40 am U.S. ET | April 17, 2015

South Korea, supporting a global police action against auto-parts price fixing, has hit Japanese and German suppliers with a string of fines in recent weeks. The latest penalties came Tuesday, when Germany's Schaeffler and Japan's JTEKT were fined for rigging bids on tapered roller bearings to Hyundai, Kia and Hyundai Powertech....
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Bold Korean startup makes a statement with Seoul stand

12:01 am U.S. ET | April 13, 2015

South Korea's youngest would-be automaker Cony Motor Co. -- at less than a year old -- just splurged on a front-and-center stand at the country's premier auto show, right next to Bentley no less....
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BLOG: Meet South Korea's newest automaker

11:10 am U.S. ET | April 3, 2015

Cony Motor doesn't have a factory or a single customer. Its vehicles aren't even street-legal yet. But South Korea's youngest would-be automaker just splurged on a stand at the country's premier auto show, right next to Bentley....
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Major Hyundai investor to vote against some directors over property deal, report says

7:19 am U.S. ET | March 11, 2015

The second-largest shareholder in Hyundai Motor and its two affiliates will vote against the reappointment of some board members who last year approved buying a Seoul property for $10 billion or three times its appraised value, a person with direct knowledge of the matter said today....
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Hyundai to enter U.S. commercial vehicle market as part of $1.8 billion offensive

7:38 am U.S. ET | Feb. 16, 2015

Hyundai plans to spend around $1.8 billion by 2020 on a major offensive in commercial vehicles, including entering the race in the United States, to catch up with rivals in a rapidly growing global market....
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Nissan Rogue shipments to U.S. to be boosted by 38% to 110,000

1:46 pm U.S. ET | Feb. 5, 2015

Renault-Nissan will export 38 percent more Nissan Rogue crossovers to the U.S. from South Korea in 2015 than planned earlier, to meet rising demand in North America....
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Hyundai Motor Group plans to invest $73 billion by 2018

6:38 am U.S. ET | Jan. 7, 2015

South Korea's Hyundai Motor Group, the world's fifth-largest automaker, said it would spend $73 billion over four years on expanding capacity, building a new headquarters and developing new vehicles....
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Hyundai, Kia promote younger execs, with eye on succession planning

7:57 am U.S. ET | Dec. 26, 2014

Hyundai Motor and affiliate Kia Motors promoted younger executives in moves analysts said would help smooth an eventual leadership succession at the family-owned conglomerate....
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Visteon to sell Halla Climate unit stake for $3.6 billion

12:38 pm U.S. ET | Dec. 17, 2014

Visteon has agreed to sell a majority stake in Halla Visteon Climate Control to South Korea’s Hankook Tire and its investment partner for $3.6 billion, to focus on connected-vehicle solutions and cockpit electronics....
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Opel unions upset over output plans for Karl, Corsa, report says

Nov. 25, 2014 06:15 CET

Opel faces labor unrest in Germany over production plans for the Corsa and Karl small cars, a business magazine reported. Workers think the Karl should be made in Germany rather than Korea and fear future Corsa output will be cut from Germany....
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South Korea embraces European imports. Yes, South Korea

12:01 am U.S. ET | Nov. 24, 2014

Here is a fairly stunning statistic: South Koreans, long viewed as among the most nationalistic of car buyers, are on track to spend more on vehicle imports from Europe this year than their country takes in from its own vehicle exports....
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BMW, Mercedes gain in once-impregnable Korea

Nov. 23, 2014 06:01 CET

South Korea's car imports have leapt from 3 percent of sales a decade ago to 14 percent today as foreign brands led by Germany's BMW and Mercedes take advantage of a free trade deal to grow sales in a once-impregnable market....
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Hyundai Motor, Kia to spend $616 million to buy back shares

7:14 am U.S. ET | Nov. 11, 2014

Hyundai Motor and Kia Motors will buy back a combined 670 billion won ($616 million) of stock after their purchase of a Seoul property for three times the assessed price spurred a sell-off....
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Hyundai investor calls land deal ‘an embarrassment’

7:28 am U.S. ET | Nov. 3, 2014

Skagen Funds, the biggest holder of Hyundai Motor Co. preferred shares, is pushing the automaker to improve corporate governance after a real estate purchase for three times the property’s assessed value sparked a rout in the stock....
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