[THE INVESTOR] South Korean authorities announced July 11 that they will cancel the registration and suspend sales of all Volkswagen vehicles here that cheated on emission tests.The amount is expected to reach up to 60 percent of the total 250,000 units of VW cars that were sold in South Korea since 2007. 　Due to the staggering number, some industry watchers say the move may be designed to eventually kick the brand out of the market for good. The Ministry of Environment said the Seoul Central Di

July 11, 2016

[THE INVESTOR] June sales of the Mercedes-Benz S-Class in Korea set a new monthly record, industry data showed on July 11. According to industry data, the sales of S-Class vehicles -- including 84 units of Mercedes-Maybach S-Class vehicles -- came in at 1,332 units in June. The previous monthly sale record for the model was 1,242 units set in January 2015. Sales in June is thought to have been boosted further by the resumption of S350d sales. Mercedes-Benz Korea had halted S350d sales after it c

July 11, 2016

[THE INVESTOR] The number of Hyundai Mobis ’ modules supplied to Chrysler is set to reach 4 million by the end of the year, industry data showed on July 11. According to the Hyundai Motor Group auto parts maker, more than 3.6 million modules have been produced at its two US plants and supplied to Chrysler since 2006. Hyundai MobisHyundai Mobis’ plant in Ohio produces complete chassis module for the Jeep Wrangler, and the plant in Michigan produces front and rear chassis modules for the Jeep Gran

July 11, 2016

[THE INVESTOR] The prosecution investigating irregularities in GM Korea’s hiring process in 2015 and 2016 filed for arrest warrants on three GM Korea employees.According to the Incheon District Prosecutors’ Office, three GM Korea employees including a former union official have been taken into custody, and that applications for arrest warrants on all three have been submitted on charges of violating the Labor Standards Act.It has been alleged that three GM Korea employees received as much as 100

July 8, 2016

[THE INVESTOR] South Korean auto parts makers need to reduce their dependence on local carmakers in order to advance on the international stage, an industry report said on July 8.“Korean auto parts makers have a high dependence on local automotive groups, therefore (they) need to make an effort to grow in the global market,” Korea Automobile Manufacturers Association said in its latest report. South Korean auto parts maker Hyundai Mobis“In order to become global parts makers, (Korean companies)

July 8, 2016

[THE INVESTOR] South Korean government has launched an investigation into a possible defect in Ford Explorers, following the US probe into complaints that exhaust fumes are leaking into the cabin of the SUVs. The Ministry of Land, Infrastructure and Transport on July 7 said it opened the inquiry to see if the Ford units sold here have a similar problem, after the US’ National Highway Traffic Safety Administration began the investigation.  Ford ExplorerAccording to US media outlets, there have be

July 8, 2016

[THE INVESTOR] GM Korea labor union’s vote on staging a strike was approved on July 7, making it the first carmaker union to set the stage for industrial action.The vote to take industrial action was approved by 71 percent workers. Of the 13,619 members of the carmaker’s union, 81 percent participated in the July 6-7 vote.  GM Korea chief executive James Kim.However, the union’s move is widely perceived as a ploy to get the upper hand in this year’s negotiations rather than a signal for immediat

July 8, 2016

[THE INVESTOR] Hyundai Motor Group announced new leadership measures to push employees to shape the corporate culture that drives innovation, the company said on July 7. Hyundai Motor’s 300 managers and high-level officials gathered at the company’s headquarters in Yangjae-dong, southern Seoul, on July 6 to participate in the seminar titled “Hyundai Motor Work Smart Leadership Seminar.” At the seminar, the company introduced 10 guidelines to become a “smart leader” in the workplace. “Lead the or

July 7, 2016

[THE INVESTOR] The government will roll out measures to help local carmakers’ electric vehicle exports to hit 200,000 units in 2020, and raise domestic sales to 80,000 units by the same year, plans revealed on July 7 show. According to the plans, the government will raise EV subsidy to 14 million won in order to boost sales. The government will launch a project for developing EV batteries that will raise the driving range to over 400 kilometers during the second half of the year. Hyundai Motor E

July 7, 2016