South Korea

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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Kia Motors says president resigned over prolonged wage disputes

7:11 am U.S. ET | Oct. 31, 2014
Kia Motors said its president, Lee Sam-ung, has resigned to take responsibility for "enormous" production losses caused by recent strikes by its South Korean union during wage talks....
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Hyundai plans to take on Toyota's Prius with new hybrid model

9:01 am U.S. ET | Oct. 30, 2014
South Korea's Hyundai Motor said it is developing its first dedicated gas-electric car that would go up against Toyota's best-selling Prius. The move will help it diversify its eco-friendly vehicle line-up and hedge its bets in next-generation green technology to meet stricter emission regulations in key markets....
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China's 'aggressive' EV ambitions to drive demand for aluminum

6:23 am U.S. ET | Oct. 21, 2014
China's drive to build electric cars is likely to set up a greater-than-forecast surge in demand for aluminum, according to Novelis, the world's biggest supplier to automakers of aluminum sheets....
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Hyundai Motor to use cash to fund $10 billion land deal

7:17 am U.S. ET | Oct. 16, 2014
Hyundai Motor and its two affiliates will use cash to fund their 10.6 trillion won ($10 billion) purchase for a land site in Seoul, raising concern the companies will reduce shareholder payouts....
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Hyundai Motor workers approve 2014 wage pact, end strikes

7:08 am U.S. ET | Oct. 2, 2014
Hyundai Motor's union workers in South Korea agreed to end strikes that may have cost the company more than 900 billion won ($847 million) in lost output after they accepted the carmaker’s proposal to increase wages....
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Hyundai reaches wage deal with union after work stoppages

11:30 am U.S. ET | Sept. 29, 2014
Hyundai Motor reached a tentative wage deal today with its South Korean labor union, a union spokesman said, potentially resolving disputes that had dragged on longer than expected and led to partial strikes....
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Hyundai pays the price for prestige

12:01 am U.S. ET | Sept. 27, 2014
Hyundai Motor Group Chairman Chung Mong-koo got what he wanted: a spacious corporate home in Korea's most prestigious neighborhood. Now he is paying the price....
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GABE NELSON

Hyundai's hubris -- $10B land deal backfires

4:08 pm U.S. ET | Sept. 22, 2014
Chung Mong-Koo sought to imbue Hyundai with Gangnam style. Instead, Hyundai Motor Group's $10 billion bid for a nearly 20-acre plot in Seoul's prestigious Gangnam district backfired on the company that Chung has elevated into a global powerhouse....
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Hyundai directors kept in dark on size of $10 billion land bid, report says

10:56 am U.S. ET | Sept. 22, 2014
Hyundai Motor and two affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters....
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Hyundai Motor's record $10 billion bid for trophy property alarms investors

11:33 am U.S. ET | Sept. 18, 2014
Hyundai Motor Group will pay a record $10 billion for the site of its new headquarters in Seoul's high-end Gangnam district, out-bidding Samsung Electronics and sparking investor concerns that it is wasting cash on a trophy property....
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Bentley adds models in Korea on rising ultraluxury demand

Sept. 18, 2014 12:25 CET
Bentley is adding new models in South Korea as the brand sees increased competition for ultraluxury cars in the market. The automaker says its dealership in Seoul has seen a 133 percent jump in deliveries so far this year....
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HANS GREIMEL

Why Korea could be next to crack down on foreign brand pricing

12:01 am U.S. ET | Aug. 20, 2014
Could China's crackdown on perceived price gouging by foreign automakers trigger a domino effect next door in South Korea, where sale of overseas brands are heating up?...
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HANS GREIMEL

Why Korea could be next to crack down on foreign brand pricing

8:55 am U.S. ET | Aug. 19, 2014
Could China's crackdown on perceived price gouging by foreign automakers trigger a domino effect next door in South Korea, where sale of overseas brands are heating up?...
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Smartphone camera makers see next opportunity in cars

2:23 pm U.S. ET | Aug. 15, 2014
South Korean smartphone camera makers are tapping the surging yet more technologically demanding market for vehicle cameras to dull the impact of slowing growth in global handset sales....
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Pope bestows halo on Kia's Soul

Aug. 14, 2014 12:19 CET
Pope Francis is helping to elevate the profile of the Kia Soul beyond that of the car of choice for dancing hamsters....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW invests 55 million euros to boost image in Korea

Aug. 12, 2014 06:01 CET
BMW will open its third global brand experience center later this month in South Korea, which will allow customers to test their driving skills on features including a winding handling circuit and an off-road course....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW, others lead shake-up of once-closed Korea

Aug. 11, 2014 06:01 CET
Korean automakers may threaten the global dominance of automakers such as Volkswagen and Toyota, but they are losing ground at home to foreign brands -- especially premium automakers such as BMW and Mercedes....
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Check out the ANE e-magazine for August

Aug. 4, 2014 06:01 CET
The latest issue of the Automotive News Europe monthly e-magazine is ready for you to view. This month's edition looks at the potential risks and rewards facing Porsche as it strives to achieve global sales of 200,000 vehicles a year....
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GM Korea reaches tentative wage deal, averting strike

6:30 am U.S. ET | July 28, 2014
General Motors' South Korean unit reached a tentative wage deal with its labor union today, averting a potential strike at one of its key Asian production bases....
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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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