South Korea

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

HANS GREIMEL

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

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.... Read More »

Hyundai third-quarter profit advances on China, Brazil

Oct. 25, 2013 06:01 CET

Hyundai reported its first profit increase in four quarters after sales rose in China and demand for hatchbacks helped boost deliveries in Brazil.... Read More »

Hyundai Motor Q3 profit advances on China, Brazil

10:27 am U.S. ET | Oct. 24, 2013

Hyundai Motor reported its first profit increase in four quarters after sales rose in China and demand for hatchbacks helped boost deliveries in Brazil.... Read More »

Hankook Tire to invest $800 million to build first U.S. plant

7:50 am U.S. ET | Oct. 14, 2013

Hankook Tire, South Korea's biggest tiremaker, will invest $800 million to build its first factory in the United States as automakers stay on track for a fifth straight year of growth.... Read More »

Kia reaches wage pact with union workers to end strikes

12:42 pm U.S. ET | Sept. 13, 2013

Kia's union workers in South Korea approved a wage agreement that ends a three-week strike that cost the company an estimated 414 billion won ($381 million) in lost production.... Read More »

Hyundai workers end strike after wage deal reached

11:21 am U.S. ET | Sept. 9, 2013

Hyundai's unionized workers in South Korea voted in favor of a wage deal today, a union spokesman said, ending strikes that had hobbled production at the automaker's biggest manufacturing base.... Read More »

Hyundai Motor and union reach tentative wage deal

9:22 am U.S. ET | Sept. 5, 2013

Hyundai Motor has reached a tentative wage deal with its South Korean labor union, a union spokesman said today. Should the union's members approve the deal in a vote on Monday, Hyundai, which along with affiliate Kia Motors ranks as the world's fifth-biggest carmaker, should avoid further production losses.... Read More »