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[Weekender] The war of parking

With limited space and inefficient regulations, Koreans learn to live with the art of parking, illegally

Infiniti Q60 aims for ‘double whammy’ in design, performance

For those looking for a sports coupe, there are two major factors to consider before making a decision. Should one consider the vehicle’s unique design or its dynamic performance? Infiniti’s newly launched sports coupe is the answer to both, the luxury carmaker said.“The all-new-400-horsepower coupe not only stimulates drivers’ speeding instinct but also embodies Infiniti’s design philosophy of powerful elegance, making graceful racing possible,” said the company’s importer and distributor in Se

May 25, 2018
Automode
GS Chairman urges affiliates to seek new opportunities amid changing geopolitical landscape

Huh Chang-soo, chairman of GS Group, urged GS affiliates to find new business opportunities amid an evolving geopolitical landscape, at an annual forum designed to seek innovation in the retail-to-energy conglomerate, the group said Wednesday. Huh Chang-soo, chairman of GS Group“After an inter-Korean summit, the summit between leaders of North Korea and the United States is on the way, leading a change in the geopolitical landscape over the Korean Peninsula,” he said at the annual Value Creation

May 24, 2018
Automode
‘Chevy’s back’: GM Korea marks fresh start with new Spark

Putting the issues of the past behind, GM Korea said it was opening “a new chapter” by launching a refreshed and also slightly cheaper mini car Spark in Seoul on Wednesday. Kaher Kazem, CEO of GM Korea said that the company will launch 15 new or renovated models in the next five years as part of a comprehensive Chevrolet strategy. Starting with Spark, the company plans to unveil its compact SUV Equinox at the upcoming Busan Motor Show and will bring more models produced overseas to Korea to sati

May 24, 2018
Automode
[Newsmaker] Under pressure, Hyundai Motor heir pulls the plug, pursues plan B

Carmaker might revise merger ratio or adopt holding company structure, all of which less favorable for Chung

May 23, 2018
Automode
Hyundai Motor Group retracts spinoff merger plan

Hyundai Motor Group retracted its spinoff merger plan for Hyundai Mobis and Hyundai Glovis on Monday, citing the views of the market and shareholders that had widely been against the move. Auto parts unit Mobis and logistics arm Glovis’ board of directors each called off the general meeting initially set for May 29, when the group’s reform plan announced in late March was to be put to a vote.Mobis and Glovis instead decided to revise and improve on the measures. “We will humbly review and suffic

May 22, 2018
Automode
(Urgent) Hyundai Mobis cancels next week‘s general meeting

Hyundai Mobis, the auto parts making arm of Hyundai Group at the center of the group’s restructuring plan, has canceled its upcoming general meeting, the company said Monday.Hyundai Mobis’ board of directors called off the meeting initially set for May 29, when the group’s spinoff merger plan would have been put to a vote. Starting with Elliott Management, which has been pressuring Hyundai to take the form of a holding company, there has been opposition from major proxy firms in and out of the c

May 22, 2018
Automode
Renault Clio forays into local compact car market

Renault Samsung Motors, the local unit of French carmaker Renault S.A., has launched the Clio hatchback with an aim to start a new boom in the local compact car market, the company said Sunday.Clio is Renault’s best-selling car with about 14 million units sold worldwide since its release in 1990. Due to a lack of demand for hatchbacks here, where sedans and sport utility vehicles are highly preferred, Clio was introduced to Korean drivers last week. Renault Samsung Motors’ hatchback Clio (Renaul

May 21, 2018
Automode
Hyundai Motor heir in NY in last ditch effort to win votes

The crown prince of Hyundai Motor Group, the nation’s second-largest conglomerate, is in New York in an apparent move to convince foreign shareholders over the group’s corporate governance reform seeking a change of the hostile atmosphere against the plan.Hyundai Motor officials in Seoul confirmed on Friday that Vice Chairman Chung Eui-sun has left for a business trip to US. He was briefed over progresses made at Hyundai Cradle in Silicon Valley, a multinational startup incubator, the company sa

May 19, 2018
Automode
Posco wins two awards at 2018 Global Metals Awards

Posco, South Korea’s No.1 steelmaker, took home two awards at this year’s S&P Global Platts Metals Awards for the first time among local steel companies, the company said Friday. Posco was named the winner in steel industry leadership, and received the grand Metal Company of the Year award at the ceremony held in London, attended by about 250 officials, the company said.S&P Global Platts, energy and commodities information provider, has been hosting the annual awards from 2013, recognizing compa

May 19, 2018
Automode
[Hyundai Reform] Breaking down logic behind Hyundai’s reform plan

What with boisterous opposition from activist hedge fund Elliott, Hyundai Motor Group’s corporate restructuring scheme is dominating the attention of investors and business insiders.The accusation from Elliott and several other critics of Korea’s second-largest conglomerate is that Hyundai has devised a plan solely in the interest of the owner family, while the group argues that it is aimed to elevate the value of the company, and therefore the interests of the shareholders.So far, four proxy ad

May 18, 2018
Automode
Hyundai Mobis eyes self-driving car sensors by 2020

Mobis considers M&As, technical cooperation with global firms for LiDAR, camera sensors

May 18, 2018
Automode
Kumho Tire seeks fresh start with new product

Ending controversies in the course of its acquisition by a Chinese company, South Korean tiremaker Kumho Tire on Wednesday launched a new product for the first time in eight years. The nation’s second-largest tiremaker unveiled a premium comfort tire named the Majesty9 SOLUS TA91 at a launching ceremony attended by more than 350 dealers. Kumho Tire Chairman Kim Jong-ho poses next to Majesty9 SOLUS TA91, a premium tire launched Wednesday in Seoul.(Kumho Tire)The product is the latest in its prem

May 17, 2018
Automode
[Hyundai Reform] Hyundai Motor reform a test for NPS

State fund faces critical choice on automaker’s spinoff plan; Hyundai refutes some proxy advisers’ opposition as misunderstanding market regulations

May 17, 2018
Automode
GM Korea to give away 100 Chevy Sparks to recover sales

GM Korea will give away 100 units of the Chevrolet Spark compact car to 100 winners of a promotional event until August in efforts to put the company back on track, the company said Tuesday.　The first winner of the “Chevy’s new start, with customers” event was Park Jae-seok, 31, who had been considering to purchase Spark for his wife on safety and design.GM Executive Vice President Barry Engle, GM Korea CEO Kaher Kazem, GM Korea Vice President Dale Sullivan, and chief of GM Korea’s union Lim Han

May 16, 2018
Automode

The Korea Herald by Herald Corporation

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