Hyundai Mobis, an auto parts maker under Hyundai Motor Group, was picked as one of top suppliers to US carmaker GM for the first time since their partnership has begun in 2010, the company said Tuesday. Hyundai Mobis` test driving track in Seosan (Hyundai Mobis)The Korean company has been delivering core auto components including integrated center stacks to GM. The accumulated value of products supplied to the US carmaker has totaled $1.1 billion, it said.Named the supplier of the year by the De

SEOGWIPO, Jeju -- The New GLC 350 e 4MATIC, the first Mercedes-Benz SUV under the EQ brand, has landed in Korea aiming to get a foothold in the market’s fast-growing green sector. Despite its green ambition, the plug-in hybrid SUV disappoints in regard to its driving range of a maximum of 15 kilometers on pure electric power. However, what the vehicle really wants to prove is its performance, rather than its greenness, through the latest hybrid technology that completes its dynamic yet reliable

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

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

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

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

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

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

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

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

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

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

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

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

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