Hyundai Motor, South Korea’s leading automotive firm, said Friday that it plans to repurchase 254.7 billion won ($227.2 million) worth of its shares in an effort to boost shareholder value and stabilize the value of its shares.“Repurchased shares will be used to strengthen shareholder value in the mid- to long term as part of efforts made since 2014 (to deliver) improved shareholder value,” Hyundai said.Last week Hyundai’s stock tumbled below 100,000 won per share for the first time in nine year

US President Donald Trump’s renewed threats of a tariff on imported vehicles have raised a red flag to South Korean carmakers already suffering from declining production in and out of the country, amid growing protectionist moves and fierce competition. The US president on Wednesday tweeted, in response to General Motors’ massive restructuring plan, that the US carmaker would not have to shut down plants in its home county if the same amount of tariffs were applied, referring to the “chicken tax

The market for used cars is expanding rapidly, with anticipated sales this year likely to exceed the 2016 record of 3.78 million units, data from the Ministry of Land, Infrastructure and Transport showed Thursday.According to the ministry, 3.16 million used vehicles were registered upon purchase between January and October this year, up 1.2 percent from about 3.12 million tallied in the same time period last year.  An SK Encar representative inspects a used car. (SK Encar)Over the past five year

Hyundai Motor Group, South Korea's largest automotive conglomerate, said Thursday it has unveiled the Palisade flagship sport-utility vehicle and the all-new Soul boxcar at the Los Angeles Auto Show. The conglomerate, which encompasses vehicle parts manufacturers and a steelmaker, plans to launch the Palisade SUV made by Hyundai Motor Co. and Kia Motors Corp.'s Soul in the United States and other markets next year to stimulate sales, the company said in a statement.  Hyundai Motor`s Palisade fla

LG Innotek Co., an electronics part maker under LG Group, on Monday showcased an ultra-slim vehicle lighting module, Nexlide-L, paving the way for carmakers to develop automobiles with unique designs. (Yonhap)Nexlide is the brand name for LG Innotek‘s automotive LED lighting.LG said the latest product, Nexlide-L, is only 3 mm thick, which is significantly slimmer than the 8 mm thickness of existing models. This represents the thinnest LED lighting module in the market at present.The company said

GM Korea, the local unit of the US automotive company General Motors, on Monday launched the new Malibu midsize sedan in hopes of boosting sales. the new Malibu (GM Korea)GM Korea said the new Malibu adopts Chevrolet’s latest family styling, including a cutting-edge powertrain lineup with improved efficiency and performance alongside upgraded safety with 10 air bags and Chevrolet’s new infotainment system.“Beloved by domestic customers with attractive design and outstanding driving performance,

Lamborghini and other foreign supercar makers are ramping up efforts to tap the fast-growing South Korean market by unveiling new models, industry sources said Monday.Italian supercar brand Lamborghini recently held a Lamborghini Day event in Seoul to share its brand vision, strategy and plans with journalists and customers. It was Lamborghini's inaugural event in South Korea and the carmaker plans to hold it annually. From Left: Lamborghini`s super Urus SUV and Aventador SVJ (Yonhap)At the even

Fun driving doesn’t have to be all about speed and power. French sports utility vehicle QM6, for instance, offers premium audio inside the cabin, making every driving moment exquisite. Wherever you sit -- front or back – the QM6 delivers a premium sound quality, as if you are sitting on the center of a concert hall, thanks to 13 BOSE speakers that create deep base tone together with sophisticated sound. QM6 GDe are lined up for John Carney’s “Sing Street” at a drive-in theater in Seoul. Renault

Hyundai Motor Co.'s performance-oriented Veloster N coupe is off to a solid start in the South Korean market, having sold more than 1,000 units since its launch in June, industry sources said Sunday.Market watchers said that as of Wednesday, South Korea's No. 1 carmaker sold 1,007 units of the N-badged car. Hyundai had initially said it is launching the Veloster N here not to sell a lot of the cars but to showcase its technological prowess and bolster its corporate image among local consumers. I

French carmaker Renault has opened a vehicle test center in Daegu, southeast of Seoul, in partnership with the city government and the Korea Intelligent Automotive Promotion Institute, the company said in a statement.The center, Renault’s first test unit in Asia, will test vehicles under development in the Asia-Pacific region, it added. Renault Samsung CEO Dominique Signora speaks at the opening ceremony of Renault’s vehicle test center in Daegu, Friday. (Renault Samsung)Vehicles to be tested in

General Motors has nominated Roberto Rempel, executive chief engineer for small SUVs and mini vehicles, as the head of its R&D unit that it plans to spin off despite opposition from unionized workers and the state-run Korea Development Bank, the second-largest shareholder of the US carmaker’s South Korean unit.Rempel has been stationed in Korea since 2015. Roberto Rempe (GM Korea)“Roberto Rempel’s experience and deep knowledge of GM’s global engineering and the engineering capability in Korea wi

The Seoul government said Wednesday that it has started the pilot operation of fuel-cell electric bus for a regular route, in an effort to test the viability of hydrogen-powered vehicles as public transportation in the city. The zero-emission bus developed by Hyundai Motor will travel from Yeomgok-dong, southern Seoul, to City Hall, four to five times a day. Five other major cities will also have a combined 30 hydrogen buses for pilot operations next year, said officials at the trade and environ

TOKYO, Japan (AFP) - Nissan chairman Carlos Ghosn was reportedly under arrest in Tokyo on Monday, as his firm accused him of “significant acts of misconduct” and said it would seek to oust him.　Japan's public broadcaster NHK and other media outlets said Ghosn had been arrested after being questioned by Japanese prosecutors for various improprieties including underreporting his income.　“The Tokyo District Public Prosecutor’s Office arrested Nissan chairman Ghosn on suspicion of violation of the F

Hyundai’s own racing team ranked second in WRC

Starting in September 2019, Korea may change the look of its license plates for newly registered cars. Instead of six digits, the new plates under consideration would have seven. The Hangeul character that follows the second digit would instead follow the third. The addition of a digit would allow 210 million new cars to roam the country, a move the Ministry of Land, Infrastructure and Transport calls “ample preparation for the era of a reunified Korea.” The ministry is also considering a change