Two days since GM Korea and the union narrowly avoided court protection, GM headquarters is speeding up its push to reach an agreement with the South Korean government for funds, in a bid to complete negotiations before Thursday evening, when its first quarter earnings conference call will be made.GM has reportedly, for the most part, agreed to accept the government’s request to stay in Korea for over 10 years along with reviving the state-run Korea Development Bank’s veto rights.KDB is GM Korea

Mobility April 25, 2018

Hyundai Steel, the steelmaking arm of Hyundai Motor Group, is engaged in a number of volunteer projects to boost long-term corporate social responsibility and help tackle social problems, according to the company Tuesday.Under the company’s vision to “Create miracle and change for the next 100 years,” it has taken part in volunteer programs here and overseas.Since 2011 Hyundai Steel has been running a project aimed at reducing energy use at low-income households in Incheon, Pohang in North Gyeon

Industry April 24, 2018

SK Engineering & Construction is strengthening its position as a leading global developer on a series of successful contracts overseas, with the latest one from Kazakhstan, the company said Tuesday.Amid intensifying competition in the market, SK Engineering & Construction is gradually transferring its business from the traditional engineering, procurement, and construction-centered to taking on an advanced role as a developer for sustainable growth and higher profitability.Since the early 2000s,

Mobility April 24, 2018

GM Korea and the labor union reached a dramatic agreement just an hour before the extended deadline on Monday afternoon, narrowly escaping court receivership and taking a step toward restructuring the local unit.Although the carmaker has avoided “the worst,” hurdles lie ahead in the coming days with GM headquarters and the government calling on each other to bring viable support programs. After the prolonged standoff due to conflicting stances on job security of 680 workers at Gunsan factory, th

Mobility April 23, 2018

Despite the new deadline set to give the labor and the management of GM Korea a second chance to restart, the fate of the nation‘s third-largest carmaker was still in the dark Sunday as the two failed to narrow differences. The two parties had failed to narrow down differences in job security of 680 workers remaining at the Gunsan plant during the previous wage talks last Friday, the initial deadline. The company‘s board of directors are expected to vote on court receivership on the new deadline

Mobility April 22, 2018

Hyundai Mobis, the auto parts making unit of Hyundai Motor Group, will start developing level-3 and 4 self-driving systems through its autonomous vehicle dubbed M.Billy in the US later this month, followed by Korea and Germany, the company said Thursday.The company’s latest move is aimed at taking the lead in bolstering future mobility technology with the firm’s enhanced role in the move upon Hyundai Motor Group’s structural overhaul last month.M.Billy will contain 25 sensors self-developed by M

Mobility April 19, 2018

Renault Samsung Motor, the South Korean unit of French carmaker Renault, said Thursday its popular SM6 midsize sedans come with various premium options drivers can choose from, giving it a competitive edge in the segment.“Due to size and price it is appropriate to offer a variety of options for midsize sedans, which are mostly used as family cars or for business purposes. Owners of SM6 can install different high-tech and sophisticated options,“ the company said. Renault Samsung Motor‘s 2019 mode

Mobility April 19, 2018

Volkswagen Korea, the local unit of the German carmaker, has introduced its new lineup for 2018 -- three sedans and two sport utility vehicles -- seeking to regain its No. 3 position in the imported car market, the company said Wednesday.The five models are: the new Tiguan midsize SUV, Tiguan Allspace, Arteon four-door coupe, Passat midsize sedan and Passat GT.“The all new model lineup is made up of sedans and SUVs, based on high customer demand in the market,” said Volkswagen Korea Managing Dir

Mobility April 18, 2018

Fiat Chrysler Automobiles Korea rolled out a face-lifted version of the Jeep Cherokee midsize sport utility vehicle for the first time in four years, in line with the starting point of its business strategy to focus on the Jeep SUV brand, the company said Tuesday.“We will focus all efforts on selling SUVs through Jeep. This year we will change 90 percent of our network to Jeep-exclusive showrooms” emphasized Pablo Rosso, president of FCA Korea, in a media event held at the first Jeep showroom in

Mobility April 17, 2018

Innocean Worldwide, the advertising arm of Hyundai Motor Group, posted to YouTube a video to promote braille socks that it made with a local fashion brand to help the visually impaired, the company said Monday.The socks are designed with braille to help wearers match the right colors.Ahead of Disabled Persons Day in Korea on April 20, the company launched the “7 days braille socks” campaign, which aims to ease the difficulties visually impaired people face on a daily basis. The socks were produc

Industry April 16, 2018

Sparking competition in the imported compact sport utility vehicle market, Jaguar Land Rover Korea, the local importer and distributor of the UK-based carmaker, released its first compact SUV E-Pace here on Monday. Jaguar highlighted that the five-seater four-wheel SUV preserves the dynamic design and driving performance of its flagship sports car F-Type.The leaders in the imported compact SUV market in Korea are the Mercedes-Benz GLA, Land Rover Evoque and BMW Mini Countryman. Volvo Korea is al

Mobility April 16, 2018

With the due date for GM Korea to reach a consensus with its labor union approaching on Friday, the GM headquarters and the government remain deadlocked over ways to deal with the local unit’s 3 trillion won ($2.7 billion) loan.US-based auto giant General Motors has turned down the government’s request for a selective capital reduction and instead intensified pressure, hinting at the possibility of withdrawing plans for a debt-equity swap. During a meeting with the state-run Korea Development Ba

Mobility April 15, 2018

Hyundai Motor, South Korea’s No. 1 automotive company, has launched a global campaign dubbed “Hyundai World Football Heritage” in celebration of the upcoming World Cup in Russia this summer, the company said Sunday.Soccer fans can win tickets to World Cup games by posting a picture or video introducing cheering cultures unique to their country on the official website, worldcup.hyundai.com, or on their social media accounts with the hashtag #myfootballheritage until May 13.As the official sponsor

Mobility April 15, 2018

Hyundai Mobis, the auto parts making unit of Hyundai Motor, opened Korea’s first auto parts design research center called the “Design Model Workshop” earlier this month to bolster design competitiveness, the company said Thursday.Equipped with cutting-edge facilities, such as a clay model maker and powder-based 3D printer, the company said it hopes to design auto parts that can harmonize with automobiles.“We believe Hyundai Mobis will gain an upper hand in competition against other global auto p

Mobility April 12, 2018

Energi Mine, a UK-based energy efficiency rewards blockchain platform, has entered the South Korean market in efforts to gather examples of how its blockchain business can be applied to the real world economy, the company said in a press conference in Seoul on Wednesday.By incentivizing people with its digital token dubbed Energi Token when they contribute to reducing energy, such as by taking public transportation or purchasing energy efficient home appliances, the company said it aims to decen

Market April 11, 2018