Hyundai Motor is expanding its car-sharing venture to tap into the promising industry, by announcing a collaboration with a local ride sharing startup Luxi on Tuesday.Hyundai Motor has invested some 5 billion won ($4.6 million) in Luxi this August and plans to work together on developing carpooling algorithm and platform in search for new business opportunities. The project is undertaken by the firm’s future research and development project called Project Ioniq.Two years into business, Luxi has

Heads of Hyundai Motor and Kia Motors’ overseas corporate bodies are scheduled to meet in Seoul this week to discuss sales strategies for next year, the company said Tuesday. Some 50 representatives will attend the meeting scheduled to take place Friday at the company’s headquarters in southern Seoul.Hyundai and Kia will hold separate meetings, with Hyundai Motor Vice Chairman Chung Eui-sun expected to lead the meeting for Hyundai. The upcoming meeting, which comes after the one held in July, ma

Workers at Hyundai Motor Co. will stage a partial strike at the carmaker's main domestic plants this week in a push for higher wages and bonuses, the union said Tuesday. Hyundai's 51,000-member union will go on strike for four to six hours Tuesday through Friday at five plants in Ulsan, 414 kilometers south of Seoul, as the union seeks to pressure the company to accept their demands in this year's wage negotiations, spokesman Hong Jae-gwan said over the phone. Separately from the four-hour strik

Head of Infiniti Lab says technology solution for future mobility is key for success, not just hardware

Hyundai Motor, South Korea’s leading automotive company, on Sunday rejected Fiat Chrysler Automobiles CEO Sergio Marchionne’s comments that the two are discussing about a technical partnership.“Hyundai is not is in talks with FCA over a partnership on hydrogen propulsion,” the spokesperson of Hyundai Motor told The Korea Herald.　Marchionne said at the Alfa Romeo Museum in Arese, Italy on Saturday, local time, “There is the potential of a technical partnership with Hyundai, which already supplies

Hyundai Rotem, a tank and train-making affiliate of Hyundai Motor Group, signed a business agreement worth some 900 billion won ($831.1 million) with Iran for passenger rail cars production, the company said Sunday. Iran’s state-run rail Iranian Rail Industries Development and Hyundai Rotem will manufacture 450 diesel-powered rail cars for commuters in the next 78 months. (Hyundai Rotem)The diesel cars will run about 960 kilometers, connecting the capital Tehran and its suburbs, the company said

South Korea's five carmakers said Friday their combined sales fell 12 percent last month from a year earlier mainly due to weak overseas demand. The five automakers -- Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and SsangYong Motor -- sold a combined 762,967 vehicles in November, down from 868,842 units a year earlier, according to the companies' sales data.  (Yonhap)Their domestic sales declined 3.1 percent to 140,342 autos last month from 144,814 units a year ago. Overseas sale

Posco Daewoo, the trading arm of the South Korean steel giant, has signed a $60 million contract with a Pakistani paper manufacturing company, it said Thursday.Under the deal, Posco Daewoo will supply plant equipment to Century Paper & Board Mills, one of the largest paper making companies in Pakistan.  　Posco Daewoo CEO Kim Young-sang (left) shakes hands with Century Paper & Board Mills President Iqbal Ali Lakhani, after signing a $60 million contract in Karachi, Pakistan, Wednesday. (Posco Dae

(Yonhap)Kia’s Stinger sports sedan has been shortlisted as one of three finalists for the 2018 North American Car of the Year, the company said Thursday. The other two finalists are Honda Motor’s Accord sedan and Toyota Motor’s Camry sedan.The final result will be announced at the Detroit motor show in January. Kia Motors’ Stinger is the sixth model of Hyundai Motor Group to be listed as a finalist for the award. The group’s luxury sedan Genesis was its first model to be among the finalists, fol

Mercedes-Benz said Thursday it sees big growth potential in South Korea's high-performance vehicle market as local customers respond to distinct products and services. In a press conference held in Seoul to introduce a series of new models, Mercedes-Benz Korea President and Chief Executive Dimitris Psillakis said the German carmaker will provide "differentiated services" through its performance-based AMG models to meet the needs of customers in South Korea's rapidly growing performance car marke

50TH ANNIVERSARY -- Mercedes-Benz Korea CEO Dimitris Psillakis introduces the latest Mercedes-Benz AMG models and services at the event held to celebrate the 50th anniversary of the German luxury automaker‘s iconic performance division AMG in Seoul on Thursday. (Mercedes-Benz Korea)

Kia Motors on Thursday began sales of the gasoline-powered Stonic in the Korean market in an attempt to counter its sales decline here and abroad. The price of the gasoline Stonic has been set at between 17 million won ($16,000) and 20 million won, 2.4 million won lower than the 1.6-liter diesel Stonic launched in July, according to the company. The gasoline version of the Stonic is also around 1.5 million won cheaper than other small SUV models here.  Kia Motors' gasoline-powered Stonic /Kia Mo

Ailing Korean branch of US carmaker to launch Equinox next year to expand sales volume　

The National Tax Service has begun reviewing the Samsung chief’s assets allegedly withdrawn from accounts opened under borrowed names, after the Finance Ministry said the accounts are subject to taxation regardless of the timeline, officials said Wednesday.The Finance Ministry said as the upper body of the tax office that it could apply the limitation of period for tax assessment for 10 years on the accounts allegedly used for fraud and other wrongdoings. With the ministry’s interpretation, it w